Export-Import Bank of India (Exim Bank) has concluded an Agreement dated May 24, 2011 with the Government of the Republic of Burundi, making available to the latter, a Line of Credit (LOC) of USD 80 million (USD Eighty million) for financing eligible goods, machinery, equipment and services including consultancy services from India for the purpose of installation of the Kabu Hydro Electric Project in Burundi. The goods, machinery, equipment and services including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this Agreement.
Circular No. 157/8 /2012-ST Representations have been received, seeking clarification regarding the levy of service tax on certain services provided by the Agricultural Produce Marketing Committee (APMC)/Board, using the ‘market fee’, in the light of Notification No.14/2004-ST. The representations have been examined.
Circular No.12/2012 – Customs Doubts have been raised as regards the classification of Micro / Mini SD Cards in the Sub-heading 852351, which covers Semiconductor media, Solid – state non-volatile storage devices or the Sub-heading 852352, which applies to Semiconductor media, Smart cards. The matter was also deliberated upon in the Bangalore 2011 Conference of Chief Commissioners of Customs.
A question has been raised by certain exporters whether revalidation provision for cotton yarn still continues. This may be due to the fact that the subject header in Public Notice No. 102 dated 16.03.2012 mentions “Procedure for scrutiny and revalidation of Registration Certificate for export of cotton [ITC(HS) code 5201 & 5203]”, but the content of Para 3 refers to both cotton & cotton yarn.
Policy Circular No. 60 (RE-2010)/2009-14 As and when Customs (CBEC) have conveyed their readiness to implement on-line message exchange between Customs and DGFT, Policy Circulars have been issued from time to time by DGFT indicating the names and Port Codes of such Customs Ports where EDI facility would be available. Such Policy Circulars issued in past are listed below:
SEBI has been allocating FII debt limits through open bidding platform since February 2009 as and when free limits are available. The utilisation status of FII debt limits and the free limits available as on 15th of every month and at the end of every month are being disseminated on SEBI website.
Please refer to our Circular UBD.BPD.(PCB). Cir. No.47/13.05.000/2010-11 dated May 11, 2011, on the above subject, advising UCBs that their exposure to housing, real estate and commercial real estate loans should be limited to 10 percent of their total assets which could be exceeded by an additional 5 percent of total assets for housing loans to individuals upto ` 15 lakh.
All the names applications submitted in STP mode will be put for system check and if there is exact match of any of the two words (other than the words private limited/limited) proposed in new company’s name with any existing company’s name, then such name will also be processed in non-STP mode.
As per the extant guidelines, availing of ECB for working capital is not a permissible end-use. On a review of the policy related to ECB and keeping in view the announcement made in the Union Budget for the Year 2012-13, it has been decided to allow ECB for working capital as a permissible end-use for the civil aviation sector, under the approval route, subject to the following conditions:
Policy Circular No. 59 (RE-2010) /2009-14 Director General (Systems) have accorded SEZ port codes to the following 53 SEZs which have been uploaded on DGFT’s website:-
