Similarly, in terms of Para 4(ii) conversion of shipping bill from one export promotion scheme to another was permitted provided benefit of that scheme was denied to him by DGFT or Customs. Conversion in such cases was to be permitted by Commissioner on case to case basis subject to the conditions specified in Para 4 (a),(b) and (c) of the said Circular.
Attention is invited to Notification No. 5 (RE-2003)/2002-07 dated 7.4.2003 vide which mandatory standards for import of certain electrical goods and appliances have been stipulated to be complied with by the importers. In this connection representations have been received from various Associations and importers and keeping in view the operative difficulties pointed out, it has been decided that such mandatory standards in respect of the items at sl. No. 143 to 159 of the above mentioned notification shall come into force after 17.08.2003.
The company agrees that in the explanatory statement forwarded by it to the shareholders u/s 393 or accompanying a proposed resolution to be passed u/s 100 of the Companies Act, it shall disclose the pre and post-arrangement or amalgamation (expected) capital structure and shareholding pattern.
I am directed to refer to the subject mentioned above and to say that as you are aware, notification no. 2/03 dated 2.1.03 has imposed antidumping duty on raw silk of grade 2A and below imported from China. According to reports received by the Board, some unscrupulous importers are misdeclaring grades of raw silk consignments in order to avoid payment of anti dumping duty.
Circular No.713/29/2003-CX Vide notification Nos. 34 and 35/2003-CE, both dated 30th April, 2003, exemptions have been given to fabrics and readymade garments and clothing accessories, upto specified clearance values. These exemptions are applicable to manufacturers having aggregate value of clearances below certain limits. For calculations of these limits, it has been, inter alia, prescribed that where these goods are cleared by one or more manufacturers from a factory
The only point that needs attention, in case of stock transfers, is the valuation of the goods. In the case of EOUs, the valuation of goods cleared to DTA is to be done as per the provisions of Section 14 of the Customs Act read with the Customs valuation Rules 1988. While determining value of goods under stock transfer, the fact that it is related person transaction, may also be taken into consideration.
Circular No. 712/28/2003-CX I am directed to say that PAC in its 39th Report has given certain recommendations on para 2.5 and 2.6 of C&AG Report for the year 1998-99 relating to inordinate delay for recovery of confirmed demands and non-adjudication of demands. Simultaneously Board is also deeply concerned about the large number of cases pending adjudication at various levels.
Regulations, 1992 either directly or through the concerned stock exchange do not provide important details required for expeditiously crediting the drafts to the account of the concerned Broker / Sub-broker. This results in avoidable correspondences and delay in crediting these drafts.
The Private Limited Company and Unlisted Public Limited Company (Buy-back of Securities) Amendment Rules, 2003.
Provided further that the accounting ratios disclosed in the offer documents in support of basis of the issue price shall be calculated after giving effect to the consequent increase in capital on account of compulsory conversions outstanding, as well as on the assumption that the options outstanding, if any, to subscribe for additional capital will be exercised
