In this context, the FIPB’s approval is only for the purpose of permitting foreign investment and any such approval does not automatically confer a right on the applicant to open a duty free shop at any port. The observance of any conditions stipulated under the Customs Act, 1962 and rules and regulations made thereunder is mandatory. CBEC has laid down instructions, conditions and guidelines for setting up private bonded warehouse from time-to-time, notably under circulars Nos. 68/95 dated 15.6.95, 99/95 dated 20.9.95, 28/96-Cus dated 14.5.96 and 18/2007-Cus dated 24.04.2007. At present, duty free shops can only be set up in the Customs areas.
Circular No. 878/16 /2008-CX, As e-payment facility has been provided for payment of central excise duty and service tax, large taxpayers shall pay the central excise and service tax dues electronically only, through internet banking. However, in case of difficulties in e-payment, a large taxpayer is permitted to pay the duty through banks (except in such cases where e-payment is mandatory) in the jurisdiction of the LTU Commissionerate only.
Any difficulties which are anticipated in the implementation of the change in computation of export duty from 1st January, 2009 may be brought to the notice of the Board by 20th November, 2008 positively.
It has now been decided that the time period for utilization of the allocated debt limit shall be 11 working days from the date of the allocation.
Permit signing of the electronic contract note with a digital signature so as to make the modified format of the electronic contract note a valid legal document like the physical contract note.
The framework for SLB was specified vide circular no. MRD/DoP/SE/Dep/Cir- 14 /2007 dated December 20, 2007. SLB was operationalised with effect from April 21, 2008.
Para 2 (II) of Policy Circular No. 12 (RE-08)/2004-09 dated 27.06.08 and Para 2 (II) of Policy Circular No. 13 (RE-08)/2004-09 dated 30.06.08 shall be amended to read as under.
.The issue of applicability of NAV on realisation basis in case of Income/Debt oriented schemes (other than liquid fund schemes) was discussed with AMFI and in the Mutual Fund Advisory Committee.
All Stock Exchanges are further advised to communicate to SEBI, status of implementation of the requirements of this circular in their quarterly report for the quarter ended March 31, 2009.
whereby the policy decision of the Government of India regarding foreign investments in infrastructure companies in securities markets, viz. stock exchanges, depositories and clearing corporations was communicated.
