Circular No.603/40/2001-CX I am directed to say that doubts have arisen whether it is the body-builder who is required to furnish a bond for receipt of chassis for body-building thereon and export or the manufacturer of chassis, who sends the chassis for building body and exports the vehicles, may furnish the bond under the provisions of Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2001.
The principal notification was published in the Gazette of India vide notification No. 61/94-Customs (NT), dated the 21st November, 1994 [S.O.828 (E), dated the 21st November, 1994] and last amended by notification No. 56/2000-Customs (NT), dated the 21st September, 2000.
Difficulties, if any, in implementation of these instructions, may be brought to the notice of the Board. Kindly acknowledge receipt of this Circular.
8A Penal rate of interest.- A penal rate of interest of eighteen percent shall be paid for the overdue period in case of public deposits matured and claimed but remaining unpaid. In case of deposit made by a small depositor, the penal rate of interest shall be twenty per cent. compoundable on an annual basis.
I am directed to invite your attention to the subject mentioned above and to say that a doubt has been raised whether the benefit of above exemption can be allowed to Furnace Oil even when the said oil is not directly used in the manufacture of fertilisers.
In the case of exports on an outright purchase in advance as per paragraph 8.59(ii) of the Handbook (Vol 1), the exports have to be completed within a maximum period of 180 days from the date of outright purchase of the precious metal provided the outright purchase was made on or before 11th September, 2001.
The principal notification was published in the Gazette of India videG.S.R. 409(E), dated the 1st June, 2001, and it was amended vide notification No.30/2001-Customs(N.T.) dated the 22nd June,2001 videG.S.R.No.451(E) and notification No.50/2001-Customs(N.T.) dated the 4th October, 2001.
In exercise of the powers conferred by sub-clause (a) of sub-section (3) of Section 14 of the Customs Act, 1962 (52 of 1962) and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No.56/2001-NT-Customs, [S.O.1061(E)] dated the 25th October, 2001 the Central Government hereby determines for the purposes of said section in so far as these relate to export goods, that the rate of exchange of conversion of each of the foreign currency specified in the column (2) of Schedule I and Schedule II appended hereto into Indian Currency or vice versa shall, with effect from the 1st December, 2001
In exercise of the powers conferred by sub-section (2) of section 20 of the Indian Stamp Act 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of Section 14 of Customs Act, 1962 (52 of 1962) and in supercession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No.55/2001-NT-Customs, [S.O.1060(E)] dated the 25th October, 2001 the Central Government hereby.
Representations have been received from the trade that field formations have not been allowing All Industry Rates of Drawback fixed for Ready-made Garments to Embroidered Garments and the rates fixed for Textile Made-ups to Quilted Textile Made-ups.
