Attention is invited to Notification No. 4(RE-2006)/2004-09 dated 4.5.2006 by which Condition No 18 of Chapter 1A of the ITC(HS) Classification of Export and import items, 2004-09 as notified vide Notification No.2(RE-2006)/2004-09 dated 7.4.2006 was kept in abeyance. It is hereby clarified that in case of imports where Bill of Lading is 6th July.
directed to forward herewith a copy of the. Companies (Amendment) Act, 2006 (Act No 23 of 2006) notified in Gazette of India Extraordinary, Part-II Section-1 for you information and necessary action.
In order to address the above difficulty being faced at present by exporters, it has been decided that exporters making an application to authorized Agencies for issue of Certificate of Origin (NP), may leave Column No. 2 of the Certificate blank and this column may be filled up after the same is certified and signed by the authorized Agency competent to issue such a Certificate.
The issues raised have been examined by the Ministry. In terms of notification No.19/2006-Cus. dated 1.3.2006 a special additional duty of 4% [leviable under Section 3(5) of the Customs Tariff Act, 1975] is chargeable on all imported goods. In terms of notification No.20/2006-Cus. dated 1.3.2006.
Attention is invited to Policy Circular No. 1 (RE-2006)/2004-09 dated 7th April, 2006 wherein the procedure for import of sandalwood was laid down. It is hereby clarified that in terms of Para 3(i) of the aforesaid Policy Circular, the last date for filing applications will be 31st July, 2006.
I am directed to invite your attention to the Annual supplement to Foreign Trade Policy, 1st September, 2004- 31st March, 2009, brought into effect from 1.4.2006 . The said Annual supplement to Foreign Trade Policy (FTP) and Handbook of Procedures (HBP) brings about certain changes relating to EOU/EHTP/STP Schemes and Gem and Jewellery Sector. To implement these changes, amendments have been made in the concerned notifications governing EOU/EHTP/STP schemes and Gems and Jewellery Sector. In this regard notification Nos 44/2006-Cus and 31/2006-CE, both dated the 17th May, 2006.
It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories on or before 31.03.2006.
It is hereby clarified that the above mentioned condition is applicable only for use as a passenger vehicle. For the limited purpose of carrying out endurance test, evaluation test and for other testing purposes, the vehicle may be registered as provided for in the CMVR Rules.
Circular No. 5/2006-Income Tax Section 80-HHC of the Income-tax Act, 1961, provides for deduction from the total income in respect of profits derived from the export of ‘goods or merchandise’, which are realized in convertible foreign exchange.
A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff. Difficulties faced, if any, in implementation of the Circular may be brought to the notice of the Board at an early date.
