Circular No.637/28/2002-CX Board’s attention has been drawn to the Supreme Court judgement in Civil Appeal No.5340-5341 of 2000 in the case of M/s. Jaypee Rewa Cement wherein the Apex Court has held that MODVAT credit on explosives used in mines (which are outside the factory premises) for mining of lime stone (intermediate product) shall be available to the manufacturing unit under Rule 57 J of the erstwhile Central Excise Rules, 1944.
Bye-Laws of the exchange to provide for the mechanism of arbitration for determining the amount of compensation in case of delay in transfer of securities and delay in furnishing of the objection memo beyond the specified time.
The new EPCG Scheme also permits granting extension of block-wise EO period more that once during the total EO period by competent authority. In addition, in respect of EPCG License
M/s. Jehangir Art Gallery situated at 161-D, MG Road, Mumbai, are providing facilities to artists/painters/sculptors to exhibit their works of art in their premises on payment of scheduled rent. They are not directly carrying out any sale of art pieces from the gallery. They claim that their establishment is a private trust and the entry to the gallery is freely open to the public. Their basic objective is to promote and propagate visual arts
t has now been decided to revise and simplify the format of the ASR. A copy of the revised ASR is enclosed. You are advised to submit the ASR in the revised format for the financial year 2001-02 by May 15, 2002 and by 30th of April of the succeeding year in future.
These instructions may be brought to the notice of all concerned by way of issue of Public Notices etc. Any difficulty faced in implementation of instructions may be brought to the notice of the Board.
Declaration of NABARD as a Public Financial Institution under section 4A of the Companies Act, 1956
Applications not accompanied by the above mentioned statements duly certified by the stock Exchange shall be returned to the Exchange for resubmission with necessary statements/ details.
Difficulties, if any, faced in the implementation of above instructions may be brought to the notice of the Board. Kindly acknowledge receipt.
Circular No.636/27/2002-CX The problem of accountal of petroleum products resulting from intermingling of different products pumped through pipelines has been engaging the attention of the Board for quite some time. In a recent case, one of the oil companies has represented against the differential duty demanded by the Department on account of shortage of Superior Kerosene Oil (SKO) imported under concessional rate of duty.
