Circular No. 183/17/96-CX I am directed to say that doubts have been expressed as to whether chilling of hydrogenated vegetable oil (vanaspati) amounts to “further preparations”, as it results in texturization, thus taking it outside the scope of heading 15004 and making it ineligible for the benefit of money credit as per notification No 45/89-CE(NT).
Circular No. 182/16/96-CX I am directed to say that doubts have been expressed regarding correct classification of Portland Slag Cement and Portland Pozzolana Cement as to whether under sub-heading 2502.29 or 2502.90 during the period 1.3.92 to 28.2.94. The doubts have arisen in view of the changes effected in Chapter 25 of the Central Excise Tariff Act, 1985 in the Budget of 1992-93.
Notification No. G.S.R.117(E)-Income Tax Whereas the Central Government is satisfied that it is necessary and expedient so to do, in the public interest to make modification in regard to the status in which persons, specified in sub-section (2) of section 293A of the Income-tax Act, 1961 (43 of 1961), are to be assessed on their income from the business consisting of the prospecting for or extraction or production of mineral oil.
Circular No. 181/15/96-CX Rule 57T of Central Excise Rules, 1944 repuires that manufacturer intending to take credit of the duty paid on capital goods under Rule 57Q shall file a declaration with the Asstt. Commissioner. Representations have been received from the trade that field formations have been denying the credit in cases where the declaration has been filed after receipt of capital goods inside the factory even though there are the provisions for condoning such delays. It has been represented that many times
Circular No. 180/14/96-CX I am directed to say that the difficulties have been expressed by the trade regarding implementation of the provisions contained in Sud-Rule 96) of rule 52A and sub- Rule (5) of Rule 57GG of Central Excise Rules read with Board Circular No. 152/63/95-CX dated 10.10.95 which interalia provide that each invoice shall bear a printed serial number running for the entire financial year.
It has come to the notice of the Board that the classification of rings and seals of plastic for use in hydraulic cylinders is not being uniformly made in the Customs Houses/ commissionerates. Whereas in some Customs Houses there are being classified as parts of hydraulic cylinders under heading 8412.90 of the Custom
Notification No. S.O.164(E)-Income Tax In exercise of the powers conferred by clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961 (43 of 1961), read with rule 111B of the Income-tax Rules, 1962, the Central Government hereby specifies that the time limit of 3 years for sale of attached immovable property under rule 68B of Schedule II to the Income-tax Act, 1961 (43 of 1961), is to be extended to 4 years
Circular No. 179/13/96-CX Attention of the Board has been invited to difficulties faced by the manufacturers in availing the credit under rule 57G/ 57T where:- (i) the Bill of Entry has been filed in the name of the registered office/ head office of the manufacturer for the inputs to be used in his factory.
I am directed to refer to an audit objection from C & AG received by the Board wherein the Audit has pointed out that the Department had failed to initiate timely action under section 72 of the Customs Act, 1962 in respect of the consignment of imported and bonded ship stores leading to the loss of Government Revenue. On ascertaining the facts it was learnt that the goods were of perishable nature.
Circular No. 178/12/96-CX During oral evidence before the Pubic accounts Committee on Audit para 3.48/91-92 on the Report of the C & AG of India for the year ending 31.3.1992 the matter regarding fraudulent availment of Modvat Credit by M/s. Sipani Automobiles Ltd. Bangalore, a manufacturer of motor -cars who took Modvat Credit fraudulently to tune of Rs. 76.84 lacs in excess of the duty paid on the inputs during the period February, 1991 to March, 1992
