In the Budget 1995-96, Notification No. 49/95-Customs was issued which inter alia prescribed concessional rate of duty on goods of heading No. 84.14 of Customs Tariff Act. However, the earlier exemption available to parts of such refrigerating and air conditioning
I am directed to refer to Notification No. 100/ 95-CE dated 2.6.95 which amended Notification No. 2/95-CE dt. 4.1.95. prescribing the effective rates of duties applicable to goods manufactured by 100% EOUs / EPZ / EHTP / STP / units when cleared into the Domestic Tariff Area
I am directed to say that the matter of long detention of cargo including containerised cargo at various ports by the Customs authorities leading to port congestion as well as hold up of containers has been represented at various forums. This issue has also
Circular No. 712-Income Tax Under section 10(22 ) of the Income-tax Act, any income of a University or other educational institution, existing solely for educational purposes and not for purposes of profit, is exempt from tax
Circular No. 710-Income Tax Chief Commissioners and corporate assessees have been seeking clarification regarding taxability of the perquisite on shares issued to the employees at less than market price
Circular No. 711-Income Tax Section 80HHB of the Income-tax Act provides for a deduction of 50 per cent of profits derived from projects abroad, in the computation of taxable income. The incentive is subject to the condition that 50 per cent of profits derived from such projects be brought into India in convertible foreign exchange
Circular No. 138/49/95-CX I am directed to enclose 3 proforma named A, B & C* with this letter. These 3 proformas relate to the analysis of revenue from major units and major commodities of the Commissionerate. Proforma C has been designed especially to ascertain the effect of liberalised import regime, introduction of MODVAT on the basis of dealers invoices, on the revenue.
t is requested to furnish us with information regarding the turnover and the delivery in value terms as well as percentage delivery for every settlement form April 1, 1995 till date.
The Board has reconsidered the matter and it has been decided that the powers of Appraisers to sanction drawback under section 75 of the Customs Act, 1962 in the Major Custom Houses in Bombay, Calcutta, Madras and Delhi shall be enhanced to Rupees One Lakh.
The Public Accounts Committee in their 91st Report on paragraph 1.22(i) relating to fraudulent drawback on Zinc Oxide have expressed unhappiness over delay in issuance of instruction for taking remedial/ corrective action. In that case two consignments declared to be Zinc Oxide were exported under claim for Drawback through Customs House, Delhi in 1989. No sample was drawn for
