I am directed to refer to Board’s Circular No. 29/ 95 dated 29th March, 1995 (issued from F. No. 473/ 6/ 95-LC) on the above subject and to say that as a measure of further relaxation, it has been decided to do away with the requirement of 5% Bank Guarantee in the case of imported goods of 100% E.O.Us/ EHTP/ STP and EPZ Units. However, a transit bond or an insurance policy equivalent to the
I am directed to refer notification 43/ 97-Customs (N.T.) dated 11th September, 1997 issued under Sec. 98A of the Customs Act, 1962 to exempt vessels from the provisions of Section 92, 93, 94, 97, & 98 (1) of the said Act
The Board has received several representations from the Trade and Chambers of Commerce for permitting clearances of export / import goods under DEEC Scheme from the Inland Container Depots at Nagpur, Ahmadabad, Surat, Kanpur, Varanasi, Agra and Jaipur. After examining the feasibility of extending Customs Clearance facilities at these Stations in consultation with Chief
I am directed to refer and enclose a copy of each of The Finance Acts (Amendment) Ordinance, 1997 dated 16th September, 1997 promulgated by the President of India and notification No. 1/ Foreign Travel Tax dated 18th September, 1997. The combined effect of the above said letters is that with effect from 26.9.97 Foreign Travel Tax will be chargeable at the rate of Rs. 750/- (Seven hundred and
Circular No. 334/50/97-CX I am directed to say that a doubt has been raised as to whether liquid vegetable extracts obtained in the course of manufacture of ayurvedic medicines are excisable under the Central Excise Traiff Act, 1985 and if so whether they merit classification under Chapter 13 or under Chapter 30 of the Central Excise Tariff Act, 1985.
Member (Customs) was recently informed in a Meeting with Secretary (Commerce) and Secretary (Textiles) that Garment exporters are facing difficulties at the time of logging of their exports in DEEC Book on the following counts
You may bring this to the notice of your members, however, warehousing of transactions may be permitted only after the exchange has modified its trading software to comply with the above conditions.
All pending Customs cases as on 1.8.1997 involving duty amounts of Rs. 10 lakh and more shall be adjudicated by December, 1997. It is estimated that the total Customs duty involved in these cases is approximately Rs. 500 crones. The objective should be to ensure immediate recovery on completion of adjudication. Wherever appeals are being filed by the importers or their agents, the efforts.
Notification No.S.O.2390 – Income Tax It is notified for general information that M/s. Vibank Housing Finance Ltd., Corporate Office No. 19, Shrutha Complex Primrose Road, Bangalore, have been approved by the Central Government as a housing finance company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 to 1999-2000
Circular No. 333/49/97-CX There have been disputes arising in the classification of products under the Central Excise Tariff Act, 1985, which are being claimed by the manufacturers as Ayurvedic medicines, and as per the contention of the department the same were cosmetics/ toilet requisites falling under Chapter 33 of the Central Excise Tariff Act, 1985.
