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Circulars

Excise on jewellery: Export procedure simplified

July 26, 2016 20384 Views 0 comment Print

(i) There shall be no requirement for taking central excise registration by a manufacturer or principal manufacturer or a jeweller, who exports 100% of articles of jewellery manufactured by him or got manufactured by him on job work basis, subject to the following conditions that:

Excise on jewellery: Guidelines for Excise Audit of Manufacturers

July 26, 2016 21061 Views 0 comment Print

In the context of Excise Audit of manufacturers/principal manufacturers of articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the Central Excise Tariff Act [hereinafter referred to as articles of jewellery] the Sub-Committee has made certain recommendations, which have been accepted by the Government.

Excise on jewellery: Computation of exemption, eligibility & exemption limits

July 26, 2016 21696 Views 0 comment Print

Clarification on computation of exemption and eligibility and exemption limits and other related issues for small scale industries [SSI] exemption under Notification No. 8/2003-CE dated 1st March 2003 in respect manufacturer or principal manufacturer of articles of jewellery or parts of articles of jewellery or both -regarding.

Customs Assessment of Bulk Liquid Cargo – regarding

July 26, 2016 23312 Views 0 comment Print

In case of all bulk liquid cargo imports, whether for home consumption or for warehousing, the shore tank receipt quantity i.e., dip measurement in tanks on shore into which such cargo is pumped from the tanker, should be taken as the basis for levy of Customs Duty irrespective of whether Customs Duty is leviable at a specific rate or ad-valorem basis [including cases where tariff value is fixed under Section 14(2) of the Customs Act, 1962].

Customs Authorized Economic Operator (AEO) Programme

July 22, 2016 42896 Views 0 comment Print

The Board has decided to merge the two facilitation schemes namely ACP and AEO into a combined three-tier AEO programme, and also enhance the scope of these programmes so as to provide further benefits to the entities who have demonstrated strong internal control system and willingness to comply with the laws administered by CBEC.

Reg. Classification of Glyphosate Isopropyl amine

July 21, 2016 21171 Views 0 comment Print

Representations have been received from the members of the trade requesting clarification regarding Glyphosate Isopropyl amine (Glyphosate 360 Acid) which was placed under the category of Plant Growth Retardant in the annexure to the circular at Table 1 in the opinion received from IARI.

Basel III Framework on Liquidity Standards

July 21, 2016 20929 Views 0 comment Print

It has been decided that, in addition to the above-mentioned assets, banks will be permitted to reckon government securities held by them up to another 1 per cent of their NDTL under FALLCR within the mandatory SLR requirement as level 1 HQLA for the purpose of computing their LCR.

Operationalisation of Central KYC Records Registry (CKYCR)

July 21, 2016 21449 Views 0 comment Print

  Securities and Exchange Broad of India CIRCULAR CIR/MIRSD/66/2016 July 21, 2016 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. All recognised Depositories 4. Depository Participants through Depositories 5. Association of Mutual Funds in India 6. Mutual funds through AMFI 7. Portfolio Managers 8. KYC Registration Agencies (KRAs) 9. Alternative […]

DD/PO towards appeal/application fee Should be Valid for 60 days

July 20, 2016 20851 Views 0 comment Print

During receipt of Appeal/application in Central Registry, it has been noticed that the DD/PO, submitted towards registration fee, has only few days of validity left on the day of its submission. Keeping above in view, all concerned are requested to ensure that DD/PO submitted towards appeal/application fee must be valid at least for 60 days on the date of submission.

MVAT- 41 FAQ's on Settlement of Arrears in Disputes Act, 2016

July 19, 2016 23187 Views 0 comment Print

Subsequently, further queries have been received from the Trade and Associations about various provisions of the Settlement Act. Same are examined and considered. So as to mitigate the issues raised, a third set of FAQs are added to the existing FAQ’s. A Trade Circular is being issued and all the earlier FAQ’s are clubbed together.

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