Notification No. S. O. 621(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause 15 of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies seven years 9.5 per cent. NHB—Golden Jubilee Rural Housing Finance tax Free Priority Sector bonds (1997-98) of Rs. 100,000 each for an amount of Rs. 200 crores
Kindly refer to Ministry’s Circular No. 69 /97- Customs dated 2nd December, 1997 – allowing payment of Drawback by way of fixation of Brand Rates on exports made under DEPB Scheme of those products which cannot avail MODVAT credit of the additional duty of customs (CVD) paid in cash on imported inputs, or excise duty paid on indigenous inputs, utilised in the production of export
In exercise of the powers conferred under Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002, as amended, the Central Government hereby makes the following amendment in the Export and Import Policy, 1997-2002.
In the case of exports of Hand loom products by the exporters, including the merchant exporters, where the Shipping Bills are certified by the Hand loom Export Promotion Council (HEPC) to the effect that goods covered by such Shipping Bills are made from Hand loom fabrics, the Customs
Notification No. 48/98- Cus. dt. 17.7.98 has been issued by the Department of Revenue (copy enclosed). This notification provides that SAD is completely and unconditionally exempt on goods imported under DEPB Scheme (Under Notification No. 34/97-Cus.). In effect, SAD would not be levied on that portion of value the duty payable on which is covered by the credit. The remaining portion of
It has been clarified in these Policy Circulars that the credits earned under the Pass Book Scheme may be utilised for imports within a period of one year from the date of grant of credit. In partial modification of the Circulars, it has now been decided that the credits earned under the Pass Book Scheme shall be valid for a period of one year from the date of grant of credit or upto 31.3.1999 whichever is earlier.
The donee undertakes to observe the procedure, prescribed by the Assistant Commissioner of the Customs having jurisdiction, for transport of the said goods from donor to his premises and such goods shall not be used for commercial purposes, and shall not be sold, disposed of, gifted, loaned, exchanged or parted with without the permission of the said Assistant Commissioner.
The Indian Sugar & General Industry Export Import Corporation (ISGIEIC) Ltd., shall be the sole agency authorised to export Raw Cane Sugar to the U.S.A. against the preferential Ceiling as indicated above. The export of above quantity of Raw Cane Sugar to the USA under the preferential arrangements as indicated above shall also be subject to prescribed pre-shipment Certificate by the Export Inspection Council.
Circular No. 407/40/98-CX I am directed to say that it has been brought to the notice of the Board that the rebates are not being sanctioned to the exporters who paid duty from the “deemed credit register” on the processed fabrics, especially where duty paid fabrics were used in the manufacture of made-up articles and rebate was claimed under the provisions of rule 12(1)(b) of the Central Excise Rules, 1944.
Attention is invited to Ministry’s Budget Notification No. 32/98-Customs (NT) dated the 2nd June, 1998 (Copy enclosed)1 amending Rule 12(1)(a) of the Customs & Central Excise Duties Drawback Rules, 1995, with view to delegating powers of relaxation of this rule to Commissioners of Customs. Rule 12(1)(a) inter alia requires an exporter to make a declaration on the Shipping Bill that a claim for
