In view of the above, I am directed to clarify that the classification of ‘Combined refrigerator freezer with separate external doors’ would be under sub- heading 8418 10 and not under 8418 21, as was being followed by certain Customs field formations. Accordingly, these goods are not covered under Sl.No.50 of the notification No.85/2004-Customs dated 31.8.2004.
A new procedure has been prescribed for the payment of taxes, fees and returns by the dealers or employers seeking registration or not registered or not required to registered under MVAT Act vide Trade Circular 42-T of 2008 dated 26th December 2008.
It is brought to the notice of all concerned that vide these Notifications transitional arrangement available under Para 1.5 of FTP have not been stopped. Thus, the transitional arrangements in respect of items whose import has been restricted vide the said Notifications shall continue. Similarly, where the shipment has been made prior to the date of issue of these Notification(s), as per Para 9.11A of HBP- vI, those imports may also be allowed.
The Notification SRO-91 dated 16.03.2006 issued by the Government of J & K states that every registered industrial unit claiming tax (VAT) remission shall make price adjustment in the selling price equivalent to the amount of tax chargeable on the finished goods sold, where after the tax shall be charged on the net selling price so that the benefit of such price adjustment is passed on to the purchasing dealer/consumer
The matter was discussed in the Port Officers meeting held on 25th November 2008. It is hereby clarified that import of Tippers/Dumpers and spares thereof including tyres are allowed to be imported as mining equipment under EPCG Scheme by mining establishments subject to the following conditions.
A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff. Difficulties faced, if any, in implementation of the Circular may be brought to the notice of the Board at an early date.
Circular No. 11/2008-Income Tax Definition of ‘Charitable purpose’ under section 2(15) of the Income tax Act, 1961 – reg.Section 2(15) of the Income Tax Act, 1961 (‘Act’) defines “charitable purpose” to include the following:- (i) Relief of the poor (ii) Education (iii) Medical relief, and (iv) the advancement of any other object of general public utility.
The Ministry of Consumer Affairs and Public Distribution, Department of Consumer Affairs has again brought to the notice of the Board about the need to comply with the requirement of Standards of Weights and Measures (Packaged Commodities) Rules, 1977, in specific reference to import of toys.
The Government of Maharashtra has issued Trade Circular No. 41 T of 2008 dated 18.12.2008 allowing the submission of VAT Audit Reports for the Financial Year 2007-2008 in old Form No.704 also.
. NAV shall be computed and published on daily basis.It has also been decided that a close ended debt scheme shall invest only in such securities which mature on or before the date of the maturity of the scheme.