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Circulars

Utilisation of Vishesh Krishi Upaj Yojana scrips for imports

December 8, 2005 181 Views 0 comment Print

It has been reported that customs authorities are not permitting the scrips under Vishesh Krishi Upaj Yojana to be utilized for purpose of imports. It is clarified that duty credits issued under Vishesh Krishi Upaj Yojana can be utilized for payment of customs duty on import of inputs and goods which are freely importable.

Regarding last date for submission of applications for claiming benefits under Target Plus Scheme 2004-05

December 8, 2005 265 Views 0 comment Print

The matter has been considered and it has been decided that the last date for submission of application for claiming benefit under Target Plus Scheme will now be 31st March 2006. It is also clarified that this is the last and final extension of last date and no further request will be entertained in this regard.

Regarding last date for submission of applications for claiming benefits under DFCE for Status Holder Scheme under Exim Policy 2003-04

December 8, 2005 256 Views 0 comment Print

The matter has been considered and it has been decided that the last date for submission of application for claiming benefit under DFCE scheme for Status Holders will now be 31st March 2006. It is also clarified that this is the last and final extension of last date and no further request will be entertained in this regard.

Reimbursement of excise duty paid on Fuels procured from Depots of Domestic Oil Companies

December 5, 2005 580 Views 0 comment Print

The matter has been considered. In this connection, attention is drawn to provision contained in para 8.5 of FTP in terms of which deemed export benefits are available both at the input stage as well as terminal stage. The supplies are eligible for deemed export drawback in terms of para 8.3 of the policy on the central excise/customs duty paid on inputs/components and also eligible for refund of terminal excise duty paid on the finished goods provided the recipient of the goods does not avail CENVAT credit/rebate on such goods.

Admissibility of Duty Free Entitlement Certificate for Status holders and target plus Scheme on supply to SEZ

December 5, 2005 307 Views 0 comment Print

Clarification has been sought whether the Duty Free Entitlement Certificate for Status holders and Target Plus Scheme are admissible to DTA Units supplying goods to SEZ Units. It is clarified that supplies from DTA to SEZ are eligible for benefits under DFEC and Target Plus Scheme subject to the conditions specified in para 7.1 (b) of Foreign Trade Policy provided the payments are realized in free foreign exchange.

Import of Air Conditioner without ODS gases

December 1, 2005 925 Views 0 comment Print

It is hereby clarified that the policy of Air conditioners containing HCFC – 22 only is under review. Air Conditioners which do not contain ODS substances will be allowed to be imported freely both under EPCG Scheme and under normal imports.

Circular No. 50/2006-Customs Duty, Dated: 01.12.2005

December 1, 2005 2038 Views 0 comment Print

Looking at the considerable success in expeditious disposal of Section 48 unclaimed cargo as a result of the interim special initiatives taken by government vide Circulars dated 17.10.1997, 13.01.2000, and 28.01.2004, the Task Force viewed that the procedure laid down in the Ministry’s last Circular No. 7/2004 dated 28.01.2004 should be put in place as a permanent measure with some modifications.

Policy Circular No. 24/2004-09 dated 30.8.2005- clarification regarding

November 30, 2005 256 Views 0 comment Print

With regard to eligibility criteria as laid down in para 2(1) of the aforesaid Policy Circular it is clarified that manufacturing / processing units should have been set up during the years when marble was under SIL List or before. Hence documentary evidence showing establishment of manufacturing / processing units during that period should be produced.

Circular No. 9/2005-Income Tax Dated 30-11-2005

November 30, 2005 865 Views 0 comment Print

Circular No. 9 of 2005-Income Tax Reference is invited to Circular No. 6/2004 dated 6.12.2004 wherein the rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of the Income-tax Act, 1961, during the financial year 2004-2005, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2005-2006 and explains certain related provisions of the Income-tax Act

Revised Norms for Execution of Bond and Bank Guarantee under Advance Licence and EPCG Schemes

November 29, 2005 454 Views 0 comment Print

On examination of their request in the Ministry, it has been decided that service providers in the port handling sector who are appointed as Custodians by the jurisdictional Customs/Central Excise authorities shall be eligible for 25% Bank Guarantee for importing capital goods under EPCG Scheme. Circular No.58/2004-Cus. dated 21.10.2004 stands modified to this effect.

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