It is accordingly informed that import of trim cutting waste or fabric trims of continuous length with maximum width restriction of two inches (2″) falling under heading 6310, required for manufacture of chindi rugs shall not be subjected to restrictions imposed by the present policy of ITC (HS) Code 6310 and shall be cleared without an import licence.
After giving due consideration to the representations from the exporting community, it has been decided, with approval of C&IM, that exports of Cashew [covered by ITC HS codes 080131 & 080132 (Cashew Nuts & Kernel) and covered by ITC HS codes 20081910 (Cashew nut, roasted, salted or roasted and salted)]; Pepper & Chilly both covered by ITC HS 0904; Cardamoms, covered by ITC HS code 090830 as well as Sesamum Seeds [covered under ITC HS Code 120740 at 6 digit level and ITC HS Codes 12074010 / 12074090 at 8 digit level), i.e. Sesamum Indicum (Sesamum, TIL).3
circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
CIRCULAR NO. 7/2007-Income Tax The Board had issued Circular No. 790 dated 20th April, 2000, laying down the procedure for refund of tax deducted under section 195, in certain situations to the person deducting the tax at source from the payment to the non-resident. Representations have been received in the Board from taxpayers requesting that the said Circular may be amended to take into account situations where genuine claim for refund arises to the person deducting the tax at source from payment to the non-resident and it does not fall in the purview of the said Circular.
Since Advance Authorization is issued with AU condition either to manufacturer exporter or merchant exporter tied up with manufactures, it has been decided that the Regional Authorities may henceforth endorse the following End-Use Certificate clause in the condition sheet attached to the advance authorization for duty free import of Boric Acid under the Scheme.
It has been brought to the notice of this office that various customs authorities are not permitting export of rice even in cases where shipping bills have been filed and let export date given much prior to the date of ban. In this connection attention is invited to the provisions contained in paragraph 9.12 of the Handbook of Procedures Vol.I (RE-2007)/2004-09 which, inter-alia, provides as under.
Circular No. 6 of 2007-Income Tax Instances have come to the notice of the Board wherein Assessing Officers have disallowed the claim of harvesting and transportation expenses incurred by the Co-operative sugar mills for procuring sugarcane from farmers, who are members of such Co-operative Sugar Mills and who are bound under an agreement to supply the sugarcane exclusively to the concerned sugar Mill
All precautions may please be taken to ensure that only the correct amount gets credited into the exporters’ accounts. Sample cases may be taken up for manual checking and validation. It may also be ensured that in cases where the exporters have already taken the differential drawback by filing supplementary claims, the EDI system does not again credit the differential drawback amount into exporter’s accounts.
An ‘Explanation’ has been added to Rule 12 (erstwhile Rule 10A), which relates to rejection of declared value, to bring more clarity and objectivity in exercising the authority for rejection of declared value. The Explanation clarifies that this rule as such does not provide a method for determination of value, and that it merely provides a mechanism and procedure for rejection of declared value in certain cases.
While raising doubt about truth or accuracy of the declared value in terms of Rule 8, the proper officer shall issue a query memo specifying reasons for such doubt. Meanwhile, the goods will be released for export against a simple undertaking after drawal of representative sample as indicated in para 5. The decision to initiate the process of investigation into valuation aspects, if any, shall be taken at the earliest at the level of Joint /Additional Commissioner.
