Whereas the Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the said Act), on the single yarn classifiable under Chapter 55 consumed captively for producing double/multifold yarn falling under Chapter 55 of the Schedule to the Central Excise Tariff Act, 1985
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding.
The Principal notification No. 27/97-Cus(N.T.) dated 7th July 1997 was published in Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated 7th July 1997 under GSR No. 363 (E) and was last amended vide notification No. 21/2000-CUS (N.T.) dated 16th March 2000.
With a view to have a more realistic assessment of the institutional investments it is proposed that custodians should provide the market value of the securities held in custody with them on a monthly basis.
The SEBI (Foreign Institutional Investors) Regulations, 1995 permit FIIs to invest in unlisted securities. Currently the custodians are reporting trades for unlisted securities under ‘no ISIN’ or custodian generated codes.
With a view to have a more realistic assessment of the institutional investments it is proposed that custodians should provide the market value of the securities held in custody with them on a monthly basis.
Circular No. 575/12/2001-CX I am directed to say that the PAC (CX-7) Section of the Board receives at least 23 reports/returns (most of them monthly, some fortnightly, some quarterly, some yearly etc.) from each of the sixty one Central Excise Commissionerates spread all over India.
Circular No. 8/2001-Income Tax The Board’s order under section 119(2)(b), dated 12th October, 1993 and Circular No. 670 dated 26th October, 1993 [F. No. 225/208/93/IT (A-II)] lay down procedure for condonation of delay in belated claims of refunds. These provide that CIT has power to condone delay in case of genuine hardship of refund claims up to Rs. 10,000 and CCIT up to Rs. 1,00,000. The power of condonation
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby exempts cut and polished diamonds falling within Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when re-imported into India after certification/ grading by the laboratories / agencies mentioned in condition (iv), in terms of paragraph 8.13(b) of the Export & Import.
All proposals in excess of the above powers are to be sent to the Ministry through Commissioner (Systems). All Heads of Departments are advised to send consolidated proposal for their Commissionerate. The proposal shall indicate clearly that Head of Department has exercised his powers upto Rs. 2 lakhs for award of AMC in the current financial year.
