The Export Obligation period shall be reckoned from the date of clearance of Penicillins and its salts or 6-APA only and not from the date of clearance of other input items mentioned in the licence. For example if the material is imported in 12th month the Export Obligation shall have to be fulfilled in 12+6 = 18 months time.
The Finance Bill (No.2), 2004 has been enacted on 10.09.2004. With the enactment of the Finance Bill, The following new services have come under the service tax levy
I am directed to say that as you are aware that the facility of removal of petroleum products without payment of duty from the factory of production to a warehouse or from one warehouse to another warehouse has been withdrawn w.e.f 6th September, 2004 vide notification No. 17/2004-CE (N.T.) dated 4th September, 2004. However
Please refer to Ministry’s Circular No. 756/72/2003-CX dated 16.10.2003 on the above subject, advising to send SLP proposals against the Tribunal’s orders on the above subject. Some SLPs were accordingly filed, but thereafter Board decided not to file further SLPs on the issue in view of the fact that such orders of the Tribunal are only interim orders and no revenue can be said to be involved
I am directed to say that the Government has decided to withdraw w.e.f. 6.9.2004 the warehousing facility of removal of petroleum products from the refineries to warehouses or from one warehouse to another warehouse without payment of duty. Accordingly, Notification No. 47/2001-CE (N.T.) dated 26.06.2001, issued under rule 20(1) of Central Excise Rules has been rescinded by Notification No.17/2004-CE (N.T.) dated 4.9.2004.
In respect of categories ( i ) to (iii) above Trade Notices / Public Notices may continue to be issued as per the present practice. However, the Commissioners should reproduce the entire circular, instructions and the guidelines of the Board without editing, paraphrasing or summarizing them.
Stock Exchanges are directed to implement the above requirements, except as laid down in para 2.3 with immediate effect. Requirement relating to tripartite agreement between broker-sub broker and clients of sub broker as stated under para 2.3 will come into effect from December 01, 2004.
in light of the above, the depositories shall also freeze the ISIN of GTB after the specified record date i.e w.e.f September 1, 2004. This would be necessary to ensure that no further transfers take place in the GTB scrip, including off market transactions, after the specified record date.
This circular is being issued in exercise of powers conferred by Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 8 and Schedule III of the SEBI (Buy Back of Securities) Regulations, 1998.
Representations have been received from the trade that EOUs are facing difficulties because of this practice as drawal of sample is being insisted by the department for every import consignment of silk by EOUs from China. The matter has been examined by the Board. Board’s Circular 39/2003- Cus was issued to deter unscrupulous importers who misdeclare the grade of silk in order to circumvent anti-dumping duty leviable.
