The regional offices may accept the logging carried out by the Customs Authorities based on their assessment of the final export product provided the corresponding inputs are accounted for as per the existing norms or those fixed by the competent authorities.
In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby constitutes an Advisory Committee to be called the National Advisory Committee on Accounting Standards, consisting of the following persons, to advise the Central Government on the formulation and laying down of accounting policies and accounting standards for adoption by companies or class of companies under the Act.
For the purposes of this notification, the rate of exchange applicable for the purposes of conversion of tariff value shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue) issued from time to time in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
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. 35/2001-NT-Customs, [S.O.710(E)] dated the 26th July, 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 September, 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.34/2001-NT-Customs, [S.O.709(E)] dated the 26th July, 2001 the Central Government hereby.
The STC number will be alphanumeric. The first part would be the 10-Character PAN issued by Income-tax authorities to the Service Tax assessees (hereinafter referred to as ‘concerned person’) to whom the STC Number is to be allotted. The second part would comprise of a fixed 2-Character alpha code (ST). This will be followed by numeric-code-001, 002, 003, ………. etc. Since all concerned persons requiring registration in terms of Rule 4 of Service Tax Rules, 1994 (hereinafter referred to as the Rules) will be applying for allotment of STC Number, a centralized allotment will be done
Notification 25 (RE-2001) exempts CNG valves for automobile cylinders from BIS registration requirements, with approval from Chief Controller of Explosives.
In the meeting of the derivative exchange/segments, held on August 2, 2001, it was decided that reporting of derivative transactions to the media and the newspapers should be in a uniform format.
Circular No. 12 of 2001-Income Tax The Finance Act, 2001, has substituted the existing section 92 of the Income-tax Act by new sections 92 and 92A to 92F. These new provisions lay down that income arising from an international transaction between associated enterprises shall be computed having regard to the arm’s length
In this regard, it is clarified that import of aforementioned items shall be free in case the specific item has been allowed freely in this book separately. For example, import of table fans (Exim Code No. 84145101) is freely importable. Thus, the table fans in CKD/SKD conditions or in ready to assemble sets shall also be freely importable.
