Attention is invited to Notification No 22 dated 3.7.2008 vide which export of maize has been prohibited till 15.10.2008. Exports under Transitional Arrangements under Para 1.5 of Foreign Trade Policy 2004-09 have also been prohibited under the above Notification.
In order to facilitate the above, all registered intermediaries are required to create a designated email id for regulatory communications.
A copy of this circular is available at the web page “F.I.I.” on our website www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their respective clients.
Further, the condition of 100% supplies and 90% payment apply for 100% TED refund. Accordingly, TED reimbursement on prorata or actual basis whichever is less, would be admissible for part payments received, subject to production of documents evidencing payment of TED.
Further at the time of redemption of EPCG Authorisations for exporters (of goods) where foreign exchange earned on exports made during 1.4.2007 till 31.3.2008 is used for discharge of EO, RAs must examine this aspect once again to ensure that duty credit scrip has not been granted for foreign exchange earned on exports made during 1.4.2007 till 31.3.2008 which has been used for fulfillment of pending EO under EPCG Authorizations (over and above the average).
Further at the time of redemption of EPCG Authorisations of Service Providers where foreign exchange earned during 1.4.2007 till 31.3.2008 is used for discharge of EO, RAs must examine this aspect once again to ensure that SFIS has not been granted for foreign exchange earned during 1.4.2007 till 31.3.2008 which has been used for fulfillment of pending EO.
In view of the difficulties expressed by trade and industry, as a special case, it is clarified that, import of items classified under ITC (HS) Code 2846 (Compounds, in-organic or organic, of rare-earth metals, of yttrium or of scandium or of mixtures of these metals) shall be considered ‘Free’, retrospectively with effect from 01.01.2007.
The Hon’ble Company Law Board vide order dated 3-8-2007 passed under section 141 of the Companies Act-1956 had authorized the Central Government to accept documents relating to registration, modification and satisfaction of charges up to a period of 300 days from the date of event by levying additional fee prescribed in section 611(2)
Section 73C of the Finance Act, 1994 (hereinafter referred to as the Act) provides for provisional attachment of property for the purposes of protecting the interests of revenue during the pendency of any proceedings under section 73 or section 73A of the Act.
In view of the above, Board hereby clarifies that the appropriate classification of Large Format Printers would be under sub-heading 8443 32, in view of the discussion at para 4. Accordingly, the field formations are directed to take necessary action and the pending assessments of LFP imports may be finalized accordingly.
