Attention is invited to Board’s circular No. 937/27/2010-CX dated 26.11.10 issued from F.No.52/1/2009-CX1 (Pt.), wherein based on the opinion of the Law Ministry, it was clarified that in view of the specific bar provided under sub-section (1A) of Section 5A of the Central Excise Act, 1944, the manufacturer cannot opt to pay the duty in respect of unconditionally fully exempted goods and he cannot avail the CENVAT credit of the duty paid on inputs.
You are requested to give your comments on the Circular 2 of 2010, if any. Comments received in this Department by 15th February, 2011 will be duly considered for incorporation in the third edition of Consolidated FDI Policy document.
E-services offered by the Department, especially e-return filing and e-payment facility have been welcomed by the dealers and tax practitioners. In view of the positive response received from all the quarters, the e . service of filing e returns is being introduced for the registered employers (PTRC holders) filing monthly returns.
The Reserve Bank, as a part of ongoing supervision, had undertaken an assessment of the practices in vogue at certain banks for ensuring the end use of funds. The review revealed that the expected level of due diligence had not been exercised in some cases facilitating diversion of funds by the borrowers. The shortcomings, amongst others, included, crediting of term loan disbursements to the current/cash credit accounts of borrowers and utilisation thereof for day-to-day operations, as also, exclusive reliance on Chartered Accountants’ certification both in regard to infusion of promoters’ contribution and deployment of banks’ funds.
Circular No. 132/1 / 2011 – ST F.No.354/69/2010-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit North Block, New Delhi January 12th, 2011 To Chief Commissioners of Central Excise and Service Tax (All), Director General (Service Tax), Director General (Central Excise Intelligence), Director General (Audit), Commissioners of Service Tax (All), Commissioners […]
This circular is issued in exercise of the powers conferred under section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Attention is invited to the Handling of Cargo in Customs Areas Regulations, 2009 which provide comprehensive guidelines for receipt, storage, delivery or otherwise handling of goods in the Customs area. These regulations also prescribe the responsibilities of persons
Attention is invited to Board Circular No.58/2001–Cus dated 25.10.2001 which provides detailed guidelines for examination and testing of food item prior to its testing and clearance by Customs officers under the provisions of Prevention of Food Adulteration Act
In such cases, the exporters shall use the manual Shipping Bill filing option on the DGFT’s server to file their application for Export Promotion Schemes (Chapter 3,4 and 5 for the FTP). Moreover, necessary documents in original including Shipping Bills will need to be submitted to jurisdictional Regional Authority of DGFT by the exporter. However, EDI Shipping Bills which are not transmitted properly will need to be EDI cleared and transmitted to DGFT’s Server for grant of benefits. EDI Shipping Bill will not be accepted through manual option mode.
Attention is invited to the Board Circular No.33/2005-Customs dated 2.08.2005 which contains the instructions regarding provisional releas of goods entered for exportation and is seized on the ground of mis-declaration in terms of quantity and value
