Notification No. 41/2007-ST, dated 6/10/2007 allows refund of service tax paid on specified services used for export of goods. The Board has from time to time examined the procedural difficulties arising in implementation of this refund scheme.
Attention is invited to the Policy Circular No. 1 dated 11.4.08 on the above subject wherein in clause 2(c) of the said Circular, it was stated that “Clearing and Forwarding (C&F) Agency Service is not leviable to Service Tax”. Department of Revenue have now issued TRU Notification No. 33 dated 7.12.2008 allowing refund of Service Tax paid on the services provided by a Clearing and Forwarding Agent in relation to Export Goods.
To invoke such bank guarantees before it expires, if any issuer company fails to satisfy the shortfall in the deposit amount either by cash or by fresh/renewed bank guarantees, within the time frame given in this regard, inspite of the said advise from the stock exchange.
Circular No. 10 of 2008-Income Tax Representations have been received from various quarters regarding problems being faced by the seafood exporters mainly on account of provisions of Section 40A (3) of the Income-tax Act, 1961.
Vide Notification No. 64 (RE- 2008) dated 24.11.2008, import of items classified under Exim Code 54024400Elastomeric, 5402 47 00 — Other, of polyesters have been restricted. Reports have been received in this Office that these restricted items are being mis-declared and imported freely.
In exercise of powers conferred under Section 37B of the Central Excise Act,1944, Central Board of Excise and Customs considers it necessary, for the purposes of uniformity with respect to levy of excise duty on items like bura, makhana, mishri, hardas and battasas (patashas), and for classification of such goods, to issue the following instructions.
Keeping in view the above, it is reiterated that no export of goods, which are apparently in the nature of ‘Military Stores’ may be allowed without No Objection Certificate from Department of Defence Production, by all units including EOU/EHTP/STP/BTP units.
Representations have been received from manufacturers of vehicles that their claims for refund of TED against deemed export supplies to EPCG Authorization holders through their dealers are being rejected by the Regional Authorities on the grounds that excise invoices are not issued directly in the name of the EPCG authorization holders and capital goods are not supplied directly to the EPCG authorization holder but are routed through the dealer.
specify the legal agreements between the clearing entities for the purpose of margin utilisation in case of liquidation/default etc.
SCENT SPRAYS AND SIMILAR TOILET SPRAYS, AND MOUNTS AND HEADS THEREFOR; POWDER-PUFFS AND PADS FOR THE APPLICATION OF COSMETICS
