In this context, reference is invited to the earlier Circular no. 62/99, dated 17.9.99, on the subject, wherein on the basis of advice tendered by the Ministry of Law, it was clarified that revised interest effective from 12.5.99 is applicable in respect of goods warehoused prior to that date but only from the expiry of six months or 12.5.99 whichever is later. Accordingly, it is again being clarified that all goods which are cleared after 14.5.2003, irrespective of their date of warehousing, i.e. whether prior to or after 14.5.2003, shall be eligible for the interest- free period of a total of 90 days.
The exchanges are required to give a declaration to SEBI in respect of adoption / implementation / incorporation of provisions of the Model Bye-laws in the byelaws of the exchange, on completion of the exercise.
.The stock exchanges shall also take suitable steps for initiating action against companies for non-compliance, if any, with the aforesaid disclosure requirements.
The representations have been received in this office with regard in the leviability of Service Tax under the category of Advertising Agency Services in respect of persons agencies engaged in canvassing for advertisements for which they get commission from the publishers. The persons involved do not provide any service like making, preparing, displaying and exhibiting and only undertake canvassing for the advertising.
I am directed to refer to Notifications No.49/2003-CE and No.50/2003-CE, both dated 10.06.2003 vide which, inter alia, the goods manufactured by new industrial units which have commenced production on or after the 7th January, 2003 or by existing industrial units which have undertaken substantial expansion by way of increase in installed capacity as per the provisions contained in said notifications and set up in the State of Himachal Pradesh and Uttaranchal have been exempted from payment of excise duty.
In order to ensure that adequate disclosures are made to help investors in taking an informed decision, it has been decided to modify the formats for disclosures under regulation 29 (1), 29 (2) and 31 of the Regulations
The Companies (Appointment and Qualifications of Secretary) (Amendment) Rules, 2003 – Appointment on population basis.
All the Brand Rate applications starting from (date to be notified later) will be dealt with in the Brand Rate Unit in respective RLAs / DCs, as the case may be. The Brand Rate fixation in respect of applications received up to (date to be notified later) and corrections / amendments to the rate already issued will be dealt with in the DBK Cell in DGFT Hq. The exact date of effect would be notified later.
Commissioner of Customs, Trichy , has informed that they have come across certain cases of fraudulent exports of cotton knitted garments where the exporters indulged in over-invoicing of goods to avail of higher unintended duty drawback benefits by adopting the following modus operandi.
Vide the said Circular, it was advised to file Reference Application / Appeal before the jurisdictional High Courts against the Tribunal’s orders on the above subject. However, on re-examination of the matter, it is noticed that filing of a Reference Application / Appeal before the High Court in such cases may not be maintainable as such orders are not passed under Section 35C of the Central Excise Act, 1944. The above Circular is therefore, hereby withdrawn.
