Circular No 621/12/2002-CX Board’s instructions on this are, F.No.45/7/56-CX(M).II dt.24.7.1957 read with Circular No.1/MOTOR VEHICLES/70 dt.19.2.1970. One of the conditions mentioned in these circulars is that the refund claims from diplomatic missions should be entertained by the Central Excise officers only if they are filed within 3 months from the date of purchase of the motor vehicle. Claims filed beyond three months were not to be admitted without reference to the Ministry of Finance. After the recent amendment to Sec.11B of the Central Excise Act, 1944, in May 2000
When a security (other than debt securities) is not traded on any stock exchange on a particular valuation day, the value at which it was traded on the selected stock exchange, as the case may be.
As defined under Section 65 (16) of the Finance Act, 1994 “C&F agent” means any person who is engaged in providing any service, either directly or indirectly, connected with the clearing & forwarding operations in any manner to any other person and includes a consignment agent. As per clause(j) to Section 65 (72), taxable service means, any service provided to a client by a clearing and forwarding agent in relation to clearing and forwarding operations in any manne
Placement of quantity of 8500 MTs of Raw Sugar from the Freesale Quota of 2000-2002 Season (October 1, 2001 to September, 30, 2002) for export of Preferential Raw Sugar Tariff Rate Quota for the fiscal year 2002 (October 1, 2001 to September, 30, 2002) to USA.
It has been decided to allocate a quantity of 10,000 MTs of sugar out of freesale portion of 2001-2002 season’s production for export to Maldives under Articles VIII and IX of the Trade Agreement between Government of India and the Government of Maldives for the year 2002 and place it at the disposal of M/s Indian Sugar Exim Corporation Ltd., New Delhi for export to Maldives.
The matter has been considered and it is clarified that the port restrictions as per the aforementioned notification shall be applicable on import of natural rubber made by EOUs and units in EPZ. However, these restrictions shall not be applicable on import of natural rubber made by units in SEZ.
Circular No. 620/11/2002-CX I am directed to say that representations have been received from the Trade especially from Small Scale Industries regarding issue of certificate, as a proof of payment of Central Excise Duty, insisted upon by some of the buyers like State Electricity Boards. The request for issue of such certificates, it has been reported, is considered by some Superintendents and in some instances
Circular No.619/10/2002-CX The matter has been examined by the Board. It is observed that the system of getting goods manufactured on job-work basis is not new. Under the provisions of the earlier section 4 and the Rules made thereunder the matter has been finally decided by the Apex Court in the case of Ujagar Prints Ltd [1989(039)ELT0493(SC)] and the case of Pawan Biscuits Co. Pvt Ltd [2000(120)ELT0024(SC)]. It was clearly held that in respect of goods manufactured on job-work basis
Circular No. 2/2002-Income Tax A review of the tax treatment of income arising from Deep Discount Bonds has been under consideration in the Board for some time. The Board had earlier clarified by way of certain letters issued to the Reserve Bank of India and others that the difference between the bid price (subscription price) and the redemption price (face value) of such bonds will be treated as interest income assessable under the Income-tax Act.
Circular NO 618/9/2002-CX I am directed to invite reference to Supreme Court”s judgement in case of SIV Industries v. CCE [2000 (117) E.L.T. 281 (S.C.)] vide which the Apex Court had held that “proviso to Section 3(1) regarding the duty chargeable on goods cleared by EOUs shall be applicable only to sales made in DTA upto 25% of production which are allowed to be sold into India as per provisions of EXIM Policy”.
