Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 15 dated September 8, 2008, in terms of which the limit for advance remittance for all admissible current account transactions for import of services without bank guarantee was raised from USD 100,000 to USD 500,000 or its equivalent.
The directions contained in this Circular have been issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.
Any dealer who files Audit Report on or after 1st October 2009 for any period shall file the same in the new Form-704. Now, it is mandatory for all the dealers who are required to get their books of account audited as per the provisions of the section 61 of the MVAT Act, 2002 to file Audit Report in Form-704 electronically.
Nothing in this paragraph shall apply to the said registered dealer unless he applies to the Joint Commissioner of Sales Tax (Returns), in Mumbai or as the case may be Joint Commissioner of Sales Tax (VAT Administration) in rest of the State.
In this regard, it is clarified that the value addition on clubbing should be the prescribed minimum value addition stated in the FTP and not the declared value addition given in the application. In case of clubbing of authorisations with different minimum prescribed value addition, the aggregate value addition should be the weighted average based on CIF value utilized in the respective authorisations.
The new notifications issued under the Advance Authorization, DFIA and EPCG schemes continue to stipulate that the exporter shall submit the proof of discharge of export obligation within the periods specified in the respective notifications. It is needless to stress that the stipulated conditions are required to be adhered to strictly; monitoring mechanism may be put in place and recovery action against defaulters initiated promptly.
The representations have been examined and with the approval of competent authority, it is informed that it has been decided to grant another 25% of the quota to the erstwhile licencees under the aforementioned Circulars.
Circular No. 25 /2009-Cus. F.NO.605/49/2009-DBK Government of India Ministry of Finance Department of Revenue New Delhi, the 29th September 2009. To, All Chief Commissioners of Customs/ Customs & Central Excise All Commissioners of Customs/Customs (Prev.)/Customs &Central Excise / Central Excise. DG, CEIB, New Delhi. DG, Central Excise Intelligence/ DGRI/ DG (Export Promotion) /DGI/ DG, NACEN/ […]
TRADE CIRCULAR Date: 25th Sept, 2009 NO. MVAT/ Registration / e-101 Mumbai, Trade circular No:- 25T of 2009 Subject: – Procedure for on line submission of application for obtaining registration under the MVAT Act, 2002 Ref: – Notification no. VAT/AMD-1009/ IB/Adm-6, dated 26 August 2009 Gentlemen/Sir/ Madam, Present Procedure: At present, the applications for registration […]
Further, in continuation with the current practice of uploading the SAI on AMFI website, AMCs shall also upload the soft copy of SID on AMFI website two working days prior to the launch of the scheme.
