Circular No. 711/27/2003-CX I am directed to refer to the New Central Excise Manual released on 1.9.2001 and Board’s Circular No. 586/23/2001-CX dated 12.9.2001 wherein it was directed that Merchant Exporters, other than the Status holders (Super Star Trading House, Star Trading House, Trading House and Export House) have to, along with the bond executed for purpose of exports, furnish a security of 25% of bond amount and surety of full bond amount.
It has now been decided to revise and simplify the format of report. A copy of the revised format is enclosed. In accordance with Regulation 22 of SEBI (Venture Capital Funds) Regulations, 1996,
It has now been decided to revise and simplify the format of report. A copy of the revised format is enclosed. In accordance with Regulation 22 of SEBI (Venture Capital Funds) Regulations, 1996, all venture capital funds are directed to henceforth submit the report on venture capital activity to SEBI, complete in all respects, strictly in the new format.
As per our earlier Circular No.D&CC/FITTC/CIR-05/2001 dated December 26, 2001, it was decided that those companies which do not establish electronic connectivity would be put under “trade for trade” settlement mode and would be allowed to be shifted to regular rolling settlement mode only after establishing electronic connectivity with both the Depositories.
In accordance with Reg. 13 (1) of SEBI (Foreign Venture Capital Investors) Regulations, 2000, all the Foreign Venture Capital Investors are directed to henceforth submit the report on venture capital activity to SEBI, complete in all respects, strictly in the prescribed format
It has been provided at Sl.No. 6 of the Annexure to the Board’s Circular referred to above that for the proper discharge of duties, the custodian shall execute a bond equal to the value of the goods likely to be stored in the premises for a period of 30 days, supported by a bank guarantee or a Government bond or cash deposit equivalent to 10% of the value of goods.
The Central Government has issued Notification no.2/2003 dated 1.3.2003 in the current year’s Budget rescinding the earlier Notification no. 6/99 Service Tax dated 9.4.99 which exempted taxable services from payment of service tax so long as payment for services rendered is received in convertible foreign exchange which is not repatriated outside India. Consequent to the issue of Notification no. 2/2003 cited above, service tax would be leviable on all taxable services consumed or rendered in India, irrespective of whether the payment thereof is received in foreign exchange or not
Commissioner of Customs (Import), Mumbai has reported a novel modus operandi adopted by the subject two parties with a view to illegally avail benefits under DEPB Scheme. The exporters used to pick containers from shipping agents at Mumbai and show as if these containers were to be transported to their factory premises at Viralimalai (Tamilnadu) for stuffing of goods.
You are aware that as per the decision taken by the Government, DGFT issued Public Notice No.62 dated 17.2.2003 notifying revised DEPB rates incorporating the element of SAD and such revised rates are made effective from 1.4.2002.
Attention is drawn to Notification No. G.S.R. 545(E) dated 1st August, 2002 whereby the figures in the balance sheet were permitted to be rounded off to the nearest hundreds, thousands, lakhs, millions, or crores, or decimals thereof.
