In this regard, the portfolio managers shall furnish a compliance report to SEBI within a week of expiry of the above deadline. Any non compliance after the extended period.
Representations have been received from the Association of eligible entities who received the licences for rough blocks/slabs of agglomerated/artificial stones stating that on account of slow down in the economy and real estate sector, demand for agglomerated/artificial stones has temporarily come down very significantly. Accordingly, Association has requested that for the said allotted quota, the licence holders may be provided an option to import either the items indicated in the licence or rough marble blocks/slabs as detailed in Policy Circular No.13 ((RE-08)/2004-2009 dated 30.6.2008.
Accordingly, all licence holders of rough marble blocks/slabs, issued to them under the provisions of Policy Circular No.13 (RE-08)/2004-2009 dated 30.6.2008, may apply to the concerned R.A. of DGFT for enhancing the quantity in their licence by upto 25% of the quantity granted to them in the year 2008-09. The import of enhanced quantity shall be subject to all the conditions applicable on import of rough marble blocks/slabs indicated in relevant Circular. It is also informed that the utilization of the additional quantity and actual import may only be made after 1.4.2009. An endorsement to this effect shall be made on the licence by the R.A. concerned.
A system should be developed by which all instruments / items approved earlier should be automatically covered for issuing Free Sale and Commerce Certificate, without referring any subsequent application to Drug Controller General (I) (DCGI) again. DGFT officials may also check the items in the relevant Act / Rules before issuing the certificate. A copy of the approval letter must be endorsed to DCGI.
The Sugar Cess Act, 1982 provides that There shall be levied and collected as a cess, for the purposes of the Sugar Development Fund Act, 1982, a duty of excise on all sugar produced by any sugar factory in India for the development of sugar industry. References have been received from some field formations that some manufacturers purchase sugar, on which central excise duty and sugar cess is paid by sugar manufacturers.
In this background the Commissioners of Customs/Customs & Central Excise, through whose jurisdiction exports under DFIA scheme have taken place, shall review all cases of such exports and take appropriate measures to recover duties wherever required in terms of these instructions
In respect of EOUs which are operating under self-bonding procedure, attestation of ARE-3 shall be done by the office-in-charge for claim of deemed export benefit, on the basis of verification and warehousing by the EOU/STP/EHTP/BTP itself. However, in case of receipt of goods without following ARE-3, the procedure as prescribed above shall be followed.
Circular No. 109/03/2009, dated 23-2-2009 -A query had been raised by the field formation as to whether the activity of screening of film supplied by a film distributor would fall under any of the taxable services and accordingly, whether the theatre owners are required to pay service tax on amount received by them from distributors. Divergent views have been expressed on this issue. One view is that the activity of screening of films supplied by a film distributor falls under the taxable service category of “renting of immovable property”; while an alternative view is that such activity falls under the category of ‘Business Support Service’.
Representations have been received by the Board pointing out divergent practices being followed by field formations with regard to levy of service tax on maintenance and repair of roads
The validity period of the observations issued by SEBI has been enhanced from the existing period of three months to twelve months.
