It has now been decided to permit each mutual fund to invest in foreign securities up to 10% of their net assets as on January 31 of each relevant year ( instead of the present reference date of January 31, 2003). e.g. the reference date upto January 30, 2005 shall be January 31, 2004.
It is also clarified that dependent minor children of the natural persons mentioned in sub-clauses (i) to (vii) of regulation 4(1)(b) of the captioned Regulations need not obtain unique identification numbers or make applications in respect of the same.
The attention of all concerned is invited to the decision of the Hon’ble Supreme Court in the case of M/s Super Cassette Industries vs Commissioner Customs (reported in 2003(58) RLT F9), M/s Motilal Dulichand vs Commissioner Customs, New Delhi (reported in 2003(157) ELT A 265) and M/s HCL Perot Systems Ltd vs Commissioner Customs, New Delhi ( decision dated 6.10.2003 in CA D.No.13751/2003).
The matter has been examined by the Board and it has been decided that in all of the cases , where samples are required to be sent for testing hazardous dyes to Textiles Committee laboratory under the Ministry of Commerce , the testing for composition ,i.e, texturised/non-texturised , should also be done at Textiles Committee laboratory to avoid duplication of work.
Authority for Advance Rulings (Customs & Central Excise) rejected the application filed by M/s.Shonkh Technologies International Ltd., NIRMAL seeking advance ruling as to whether the process proposed to be undertaken by the applicant company amounts to manufacture under Section 2(f) of the Central Excise Act, 1944 or not, at the stage of preliminary hearing itself.
I am directed to refer to para 87 of Manual of Departmental Instructions on Petroleum products in which, inter-alia, it has been stated that for measurement of Mineral Oil by volume, the volume reduction factor may be obtained by using table No. 54 of ASTM/IP with reference to Tank temperature and the density at 15 C as obtained from table No. 53 of ASTM/IP. In this connection
An issue has been raised seeking clarification on the ambiguity in the provisions of Rule 3(5) of the Service Tax Credit Rules, 2002 which reads that ‘in case the service provider, opts not to maintain separate accounts of input service meant for consumption in relation to rendering of such output service which are chargeable to service tax as well as exempted services or non-taxable services, he shall be allowed to utilize service tax credit for payment of service tax on any output service only to the extent of an amount not exceeding thirty five percent of the amount of service tax payable on such output service
RBI, vide Circular No. EC.Co.FII/347/11.01.01(22)/2003-04 dated July 11, 2003 permitted FIIs to participate in exchange traded interest rate derivative contracts and specified position limits for FII transactions in exchange traded interest rate derivatives.
SEBI has decided that Debenture Trustees would be allowed to associate with privately placed unlisted debt issues. The debenture trustees would be responsible for such issues and are accountable.
Import of consumables other than milk and dairy products, vegetable, horticulture and agriculture products would be permitted under the scheme. However, beverages, spirits and vinegar covered under Chapter 22 of ITC(HS) Classification or seafood items ( both processed and semi processed) are permitted to be imported.
