Circular No. 72/72/94-CX I am directed to forward herewith copies of Notification Nos 132/94-CE, 133/94-CE, 60/94-CE (N.T.) to 60/94-CE(N.T.) issued in the context of solving the difficulties in availing of Modvat credit in respect of certain textile inputs.
This has reference to SEBI’s letter No.SMD/SED/94/2114 dated April 12, 1994. SEBI has been receiving complaints that issues are listed on stock exchanges and trading is allowed before a company has completed despatch of all share certificates.
Circular No. 71/71/94-CX I am directed to refer to paragraph 4 of the Notification No 1/93 which provides that under this notification, exemption would not apply if the goods in question bear a brand name or trade name of another person. In this context certain doubts have been raised regarding the scope of the expression brand name and trade name.
Circular No. 70/70/94-CX I am directed to refer to the provisions of Rulr 52A as amended by Notificaiotn No.23/94-CE (NT) dated 20th May, 1994 according to which the duplicate copy of the invoice shall be used for taking credit under rule 57G and Rule 57T of the Central Excise Rule 1944.
Circular No. 69/69/94-CX It has been brought to the notice of the Board that there is a tendency on the part of some dealers to obtain Central Excise registration, merely for the sake of using their invoice for transfer of Modvat credit, even though the dealers do not have proper business premises or without any arrangemnet for receipt, storage and onward dispatch of excisable goods.
Circular No. 68/68/94-CX I am directed to refer the provisions of rule 52A providing that the duplicate copy of the invoice shall be used for taking credit under Rule 57G. By notification No. 23/94-CE(NT) dated 28.5.94 the Rulr 57G was amended by inserting sub-clause 2(A).
Circular No. 67/67/94-CX Reference has been received regarding issue of Show Cause-cum-Demand Notice by Collector-I, in case to be adjudicated by Collector-II, where the Collector of Central Excise is required to issue and adjudicate Show Cause-cum-Demand Notice under the Central Excise Law.
All exchanges are supposed to take stringent action to ensure that the reports for the year 1993-94 are received in time. Please note that deterrent action is to be taken against the members who do not follow the deadline.
In this connection, we enclose a copy of the clarification issued by the Registrar of Companies, Gujarat, Ahmedabad on the subject vide his letter No. ROC/GUJ/94-95 dated September 22, 1994, the contents of which are self-explanatory.
Circular No. 66/66/94-CX I am directed to invite your attention to para 2 of Circular No. 50/50/94-CX dated 19th August 1994 on the above subject. In the said para, for the words “of a manufacturer other than the SSI manufacturer”, the words “or trade name of another person” shall be submitted.
