Adequate publicity may be given about reduction of compounding amount, in order to make the scheme more popular as to reduce the cases pending in the Court. Further, in order to make best use of compounding of offence scheme, all persons against whom prosecution is initiated or contemplated, should be informed separately in writing, the offer of compounding. Guidelines issued vide Circular No.54/2005-Cus dated 30.12.2005 shall continue to apply, subject to the amendments made vide Notification No.118/2008-Customs (NT) dated 12.11.2008 and the changes mentioned in para 5 above.
.It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the month of September 2008.
Attention is invited to Policy Circular No.9 dated 30.6.2003 as amended from time to time, wherein import of approved and unapproved drugs under the Advance Licensing Scheme (now renamed Advance Authorization Scheme) has been allowed without Registration procedure, subject to pre-import condition and fulfillment of Export Obligation within a period of six months from the date of import of first consignment.
.At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement.
I am directed to invite your attention to para VI of the Board’s Circular No. 834/11/2006-CX dated 05.10.2006 wherein the large taxpayers were requested to opt for e-payment of taxes. The Principal Chief Controller of Accounts, Central Board of Excise & Customs, has reported that e-payment of central excise and service tax has since stabilized.
It is clarified that for the purpose of clearance of imported items against the advance authorization/DFIAs, imports would be allowed as per the balance CIF value in freely convertible currency irrespective of the fact as to whether the CIF value of imports had exhausted in the said authorisation in terms of Rupee. This is subject to other conditions of the Authorisation.
It has been decided to add a condition to the EPCG Authorization that pharmaceutical units would instead be required to submit a copy of Drug Manufacturing Licence to the concerned Regional Authority within a period of three years from the date of issue of EPCG Authorization failing which the Bank Guarantee /Legal Undertaking executed/furnished at the time of clearance of Capital Goods, with Customs authorities/Regional Authorities of DGFT
To monitor the quantity of edible oil exported in branded consumer packs of upto 5 Kgs and to ensure that the ceiling of 10,000 tons is not exceeded, a weekly report shall be sent to Office of DGFT by Joint Secretary, Customs (Central Board of Excise and Customs) and DGCI&S, Kolkata. The weekly report shall contain the quantity (in Kgs. as unit of measurement) and value (in Rupees) of edible oil exported (in branded consumer packs up to 5 kgs.) along with ITC (HS) Codes.
Attention is invited to Notification No. 59 dated 18th November, 2008 and No. 38 dated 15th October, 2007, read with Notification No. 93 dated 1st April, 2008, Notification No. 37 dated 3rd September, 2008, Notification No. 38 dated 5th September, 2008, Notification No. 39 dated 16th September, 2008 and Notification No. 55 dated 5th November, 2008, vide which export of Non-basmati rice stand prohibited.
Representations have been received from trade and industry seeking clarification on the issue whether proportionate credit should be reversed in cases where a manufacturer avails credit of the amount of duty paid by supplier as reflected in the excise invoice, but subsequently the supplier allows some trade discount or reduces the price,
