Representations have been received from the trade and industry that a doubt has arisen in the field formations of customs on the issue of allowing alternative inputs as per SION under DFRC scheme even if exactly the same input, in the product value added chain, has not been utilized in the manufacture of the exported product.
directed to forward herewith a copy of each of the following. Notifications that was published in the Gazette of India for your information and necessary action.
Board has examined the leviability of service tax on maintenance or repair or servicing of software under section 65(105)(zzg) read with section 65 (64) of the Finance Act , 1994
Policy Circular No. 29 clarifies product classifications under ITC(HS) 2004-09, addressing queries on imports, standards, and licensing requirements.
Para 4.40 of the Handbook of Procedures (Vol 1) allows certain notified ports to be treated as a single port for the purposes of imports and exports. However, the present distributed architecture of the Customs electronic system does not allow import clearances from all the notified ports in the same city. Therefore, the Regional Licensing Authorities will issue DEPBs (and other licences also) for a single notified Port only along with the unique six digit Location Code of the Customs ‘Port of Registration’ to facilitate speedy clearances against the licences issued.
In terms of Para 3.7.2.1 (vi) of EXIM Policy (2002-07) issued on 31.03.2003, as amended. Representations were received from Trade & Industry to clarify the scope and meaning of nexus with product group, as contained in Para 3.2.6A (II) of the Handbook of Procedures Vol. I as amended.
I am directed to invite your attention to the Board’s Circular No.56/2004-Cus, dated 18th October, 2004 as amended on the above mentioned subject and to say that the Directorate General of Foreign Trade (DGFT) vide Public Notice No.53/2004-09, dated 19.09.2005 has amended the Para 2.32 (i) of the Handbook of Procedures, Volume-1, 2004-09.
Under Sl. No. 276 (which has subsequently been withdrawn w.e.f. 1.3.2005) of the CN.21/2002-Cus., dated 1.3.2002, all parts of the machines of heading 8471, other than PPCB’s, motherboards and power supply units attracted a concessional rate of duty @ 5%. In case the computer casing/chassis is pre-fitted with the power supply unit, it was not eligible for the benefit of the said entry of the notification and the rate of basic customs duty on the same use to be 15%.
The issue as to whether interest in case of export of warehoused goods u/s 69 of the Customs Act, 1962 is payable in terms of the guidelines contained in Board’s letter F.No.475/82/92-LC, dated 27.12.1993 OR whether the same is not required as per Hon’ble Supreme Court’s judgement in the case of M/s Pratibha Processors Vs U.O.I as reported in 1996 (88) E.L.T. 12 (SC) has been examined in the Board.
These guidelines are issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
