Please refer to Board’s Circular Nos. 10/ 97- Cus. dated 17.4.97, 28/ 97 – Cus, dated 30.7.97, 5/98- Cus. dated 23.1.98, 19/98- Cus. dated and 33/98- Cus. dated 13.5.98 regarding DEPB Scheme & TRA facility there under
In this regard, questionnaire were sent to all Registrars to an Issue/Share Transfer Agentson September 19, 1998 and a reminder was sent on October 15, 1998. It is observed that many Intermediaries have not responded and in some cases their system is not Y2K compatible. It is advised that all Registrars to an Issue/Share Transfer Agents shall ensure that their system is Y2K compatible on or before June 30,
The Year 2000 problem poses a significant challenge for the securities market and other related activities. Failure to address this issue in timely manner would cause operational problems to all the institutions operating in the securities market, even to the extent of disruption of financial markets.
Similarly, in respect of turn key civil construction projects, deemed export benefits will be available only for supply of goods as was already clarified under Policy Circular No. 32 dated 20th August, 1998 provided the goods are manufactured in India and these benefits will be available only to the Manufacturer Exporter who manufacture and supply the goods. Policy Circular No. 32 had clearly stated.
We have taken note of the suggestions made by the custodians for modifications in the database. While these suggestions are being examined, the custodians may defer the submission of old FII investment data for the time being.
Safeguard duty-Developing countries notified for the purposes of Section 8B of Customs Tariff Act. – In pursuance of clause (a) of sub-section (6) oi section 8B of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, hereby notifies the following countries as developing countries for the purposes of the said section.
Notification No. 35 (RE-98) adds import guidelines for prime steel items with minimum c.i.f. values under the ITC(HS) Classification, 1997-2002.
The existing threshold limit followed by the exchanges for purpose of levying margins would be reduced to Rs. One crore for the purposes Gross Exposure and Rs.50 lakhs for Net Exposure. There would not be any change for exchanges where these limits are already less than the limits mentioned above i.e. Rs. One crores and Rs.50 lakhs respectively.
DGFT allows inclusion of foreign buyer commissions in FOB value for calculating DEPB entitlement, ensuring consistent treatment with drawback entitlements.
In exercise of powers conferred under section 5 of the of Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.3 and 4.1 of the Export and Import Policy, 1997-2002, the Central Government hereby makes the following amendment in the Policy, 1997-2002 (incorporating amendment made upto 13.4.98) and ITC(HS) Classification of Export and Import) item , 1997-2002 published on 31st March, 1997 and as amended from time to time, namely.
