The Expert Committee appointed by SEBI on the issue of turnover based fees of brokers had recommended that with respect to jobbing transactions identified and included in the turnover as proposed in the said report, concessional rate of fee of one two hundredth of one percent of the jobbing turnover calculated is to be computed.
Representations have been received from various firms’ seeking clarification whether agencies / financial institutions in the business of export factoring, who have already been issued A.D. Codes by the Reserve Bank of India, can also issue Bank Certificate of Export & Realisation.
Circular No. 428/61/98-CX I am directed to say that the Board has received representations from exporters that rebate under Rule 12 of the Central Excise Rules 1944 are not being granted where the goods initially cleared on payment of duty for home-consumption were diverted for export following the procedure contained in Board”s Circular 294/10/97-CX dated 30.10.97 on the ground that the exporters are not furnishing “Disclaimer Certificate” from the manufacturers of goods.
Government amends import policy for raw silk under Notification 28 (RE-98), requiring special import license for mulberry raw silk with specific conditions.
Circular No. 427/60/98-CX The matter has been examined in the Board. Raw asafoetida imported into India is classified under Chapter 13 of the Customs Tariff which covers natural gums, resins and gum resins. Asafoetida in gum form is mixed with water till it is totally diluted and then added to the mixture of wheat flour and edible gum. The mixed substance in dough form is spread on the floor and allowed to set for 8 to 10 days till the colour changes to dark brown.
Notification No. 2151/1998-Income Tax It is notified for general information that “Peerless Abasan Finance Limited, 75-C, Park Street, 7th Floor, Calcutta-700 016”, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Rule 6 & 7 of the Customs and Central Excise Duties Drawback Rules, 1971/1995 an exporter can file an application for fixation of Brand Rate or a special Brand Rate, as the case may be, within 30/60 days of let export date. The Central Government can allow a further period of 30 days after satisfaction that the manufacturer or exporter was prevented by sufficient cause for making the
The Ministry of Commerce issues Notification No. 27 (RE-98) to restrict the import of animals, birds, and reptiles, ensuring compliance with CITES and other regulations.
Notification No. 2150/1998-Income Tax It is notified for general information that “GRUH Finance Limited, Ambica House, B/H.C.U. College, Near Income-tax Circle, Asharam Road, Ahmedabad”, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Import permitted against a licence to Zoos and Zoological parks, circus companies, private individuals, on the recommendation of the Chief Wild Life Warden of a State Government subject to the provisions of the Convention on international Trade in Endangered Species of Wild Fauna and Flora (CITES).
