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. As per the changes in the Handbook of Procedure (Vol.I), the Board hereby makes following further amendment in the Circular No.56/2004-Cus, as amended dated 18.10.2004.
communicate to SEBI, the status of the implementation of the provisions of this circular in Section II, item no. 13 of the Monthly Development Report for the month of May 2005.
“As a measure of facilitation, I propose to follow international practice and establish large taxpayer units (L.T.Us). To begin with, these units will be set up in major cities. I would like to invite large taxpayers, whether of corporate tax or income tax or excise duties or service tax, to participate in the programme and avail of the single window service. For small taxpayers, I propose to set up Help Centres in cooperation with industry associations, professional bodies and NGOs.”
The matter has been considered in consultation with Central Board of Excise & Customs. It is, accordingly, clarified that since EPCG Scheme is implemented through end use based notifications, the goods being cleared from an EOU under EPCG Scheme would attract a Central Excise Duty equal to aggregate of effective customs duty leviable on like goods imported i.e. Duty calculated after applying end use based notification as per circular dated 15.9.1994 issued from CBEC F.No.305/83/94-FTT. Therefore, EOUs can clear goods under EPCG licence at concessional rate of duty and there is no requirement for any other separate exemption notification in this regard.
The undersigned has been authorized to direct the exchanges to bring the provisions of this circular to the notice of the member brokers and also to disseminate the same on the website.
Kind attention is invited to Sr.Nos.167, 168 and condition No.21of the subject customs notification in terms of which duty free import of lining and interlining materials required by garment exporters for use in the export product is permitted upto 2% of the FOB value of exports of garments made during the preceding financial year.
Since Appendix 17D for DFCE under Exim Policy 2003-04 is being revisited, in view of representations from the trade and industry, it is clarified that the last date of submission of applications for claiming benefits under above scheme shall be 90 days from the date the said revised Appendix 17D is notified afresh.
The Ministry has announced the revised All Industry Rates of Duty Drawback vide notification No.36/2005-Cus (NT) dated 2.5.2005. These rates shall come into force with effect from 5.5.2005. The notification may be downloaded from CBEC website www.cbec.gov.in and perused for details.
In this regard, SEBI had vide letter DPS-II/GTB-ECS/16703/2004 dated July 29, 2004 granted temporary exemption to the Registrars and Share Transfer Agents and the Issuer Companies from making the payment of dividend, interest .
I am directed to refer to Boards letter No. 6/39/2000-CX.I dated 1.7.2002 clarifying certain points relating to the Central Excise Valuation (Determination of Price of Excisable Goods) Rules,2000.
