Use of Information Technology in cash transaction of listed companies for payment of dividends.
Circular No. 625/16/2002-CX I am directed to say that doubts have been raised regarding the mode of valuation to be adopted in respect of goods notified under section 4A of the Central Excise Act, 1944, which are partly sold with the retail price printed on the packages and partly sold without printing the retail prices on the other packages. It has been reported that problems are being faced in respect of virtually all the commodities notified under Section 4A; e.g. lubricants, toilet soaps, paints and varnishes, automobile bulbs
Circular No 624/15/2002-CX-8 I am directed to state that it has been brought to the notice of the Board that a manufacture who had opted to avail exemption from payment of duty based on value of clearance as per the SSI Notifaction (present Notification No. 8/2001- C E, dated 1-3-2001) also availed credit of duty paid on inputs used in the manufacture of other branded finished goods which were dutiable. Further, the said manufacturer used inputs on which Cenvat credit was availed, in the manufacture of the exempted finished goods
Presently, FIIs have been permitted to trade in exchange traded index futures contracts. It has since been decided to permit FIIs to trade in all exchange traded derivative contracts subject to position limits.
The proposal has been considered by the Board and it has been decided that Indian flag foreign going vessels operating in routes covering more than one Indian port to a port outside India
Circular No 623/14/2002-CX The matter has been examined in consultation with Ministry of Law. Their opinion is that the Bombay High Court in its judgment dated 30-7-1991 in the case of Prakash Construction and Engineering Company v. Union of India has already decided the issue that the process of preparation of Asphalt Hot Mix does not amount to manufacture as contemplated by Section 2 (f) of the Central Excise Act.
The Custom Houses may, therefore, keep a watch over such imports and to ensure that the goods, namely, polyester woven fabrics are classified correctly and charged to duty accordingly.
Difficulties, if any, faced in the implementation of above instructions may be brought to the notice of the Board. Kindly acknowledge receipt.
Circular No.ST-40/03/2002-CX 21st February, 2002. F.No.137/24/99-CX.4 Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Subject: Introduction of Service Tax Code (STC) Number based on Permanent Account Number (PAN) allotted by the Income Tax – Instructions – regarding. In continuation of Board’s Circular No.35/3/2001-CX.4 (F.No.137/24/99-CX.4) dated 27.08.2001 on the […]
Circular No 622/13/2002-CX One process of manufacture of flavoured tea is that natural flavours like Bergamot and Cardamom etc. are added to 2-3% to black tea. The tea is dried in a suitable dryer like vibro/fluid bed dryer or tray dryer at about 80 C for 15 minutes. Dried tea is cooled to room temperature and then mixed with flavours in a mixer like nauta mixer/planetary mixer or ribbon blender. This is then dried in vibro/fluid bed dryer of tray dryer at bout 55 C for about 15 minutes.
