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SEBI : Reporting of spot and off-the-floor transactions.

March 14, 1995 904 Views 0 comment Print

The exchange is advised to inform us about the steps taken in this regard not later than April 10, 1995. The exchanges must also send a report to SEBI indicating the trading floor volumes and off-exchanges volumes separately.

100% EOUs closure/failure to export – Demand of duty

March 10, 1995 1339 Views 0 comment Print

A number of instances have come to the notice of the Board where 100% EOUs had imported capital goods, raw materials and other permissible items under Notification No. 13/81-Cus. dated 9/2/81 but have failed to export any goods or have closed down after exporting a few consignments. A question has been raised as to the stage at which the customs

Notification No. S.O.2524 – Income Tax dated 10/3/1995

March 10, 1995 456 Views 0 comment Print

Notification No.S.O.2524 – Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the United News of India as a news agency set up in India solely for collection and distribution of news, for the purposes of the said clause for the assessment years 1994-95, 1995-96 and 1996-97

VBAL/QBAL – Export Declarations – Further clarifications

March 8, 1995 601 Views 0 comment Print

Your attention is invited to Ministry’s instructions of even number dated the 4th January, 1995 (Circular N0. 1/95) and Subsequent telex dated 13th January, 1995 regarding filing of Ar-4 along with the Shipping Bills

Advance Intermediate Licence for iron & steel under Engg. goods export scheme – Customs instructions

March 8, 1995 1822 Views 0 comment Print

Ministry of Commerce vide their Notification No. 53/ RE/ 92-97 dated the 1st March, 1995 have notified Engineering Products Export (Replenishment of Iron and Steel Intermediates) Scheme. To give effect to this scheme which permits duty free import of

This notification exempts input required for the manufacture of iron and steel intermediates

March 7, 1995 646 Views 0 comment Print

That the imports and exports are undertaken through sea ports at Bombay, Calcutta, Cochin, Kandla, Mangalore, Marmagao, Madras, Nhava Sheva, Paradeep, Tuticorin and Visakhapatnam or through any of the airports at Ahmedabad, Bangalore, Bombay, Calcutta, Coimbatore, Delhi, Hyderabad, Jaipur, Madras, Srinagar, Trivandrum and Varanasi, or through any of the Inland Container Depots at Bangalore, Coimbatore, Delhi, Guwahati, Hyderabad, Kanpur, Ludhiana.

This notification provides effective rates of duty on specified goods when imported from Union of Myanmar

March 6, 1995 877 Views 0 comment Print

Provided that the importer produces evidence to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs that such goods have, in fact, been produced in the Union of Myanmar and are imported into India through the land route from a notified land customs station.

Fishing Passes – Periodicity for Renewals Revised

March 6, 1995 439 Views 0 comment Print

In supersession of Ministry’s instruction contained in circular F.No. 574/ 5/ 77-LC – II dated 1.1.79 and F.No. 581/ 8/ 92-LC dated 30.11.92 regarding issue of passes to mechanised and non-mechanised fishing vessels, I am directed to say that it has now been decided that the periodicity for for renewal of fishing passes should be as under

Reversal of Modvat credit by Exporters

March 2, 1995 955 Views 0 comment Print

Circular No.108/19/95-CX Some doubts have been raised whether the expression “the exporters can be permitted to reverse the credit taken in respect of inputs used in the exported finished product with reference to the actual amount of duty credit taken

Seizure of Books & Records by Excise Collectorate – D-I and Notices or Reversal of Modvat Invoices by the Actual users

March 2, 1995 508 Views 0 comment Print

Circular No. 107/18/95-CX Boards circular No. 69/69/94-CX dated 24.10.94 provided that a registration certificate issued under Rule 174 is valid only for the premises specified in such certificates therefore, registration cannot be granted to person who does not have proper premises for conducting his business and for receipt storage and dispatch of goods.

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