The matter has been examined by the Board. It is observed that the office of Commissioner of Customs, Mangalore is about 400 km away from Belgaum where the ICD is located. It has , therefore, been decided that in respect of Inland Container Depot at Desur, District Belgaum, notified vide Notification No.89/2004-Cus., dated 21.7.2004 under clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962.
In the said circular it was also clarified how, when and the date from which the unpaid and unclaimed dividend due for payment prior to and after the amendment of Section 205A and the enactment of Section 205 C by the Companies (Amendment) Act, 1999 should be transferred to IEPF.
As you are aware, the Central Government has issued an Order of Moratorium in respect of Global Trust Bank Ltd (GTB) till October 23, 2004. In terms of the order of Moratorium, depositors of GTB will be permitted to withdraw up to Rs 10,000/- only from their accounts with the bank during the period of moratorium.
Attention is invited to Public Notice No 71 dated 12.07.2004 wherein the suspension of DEPB rates of notified products in the Engineering Product Group made vide Public Notice No 54 dated 28.02.2004 and amended by Public Notice No 56 dated 10.03.2004 was revoked.
Considering the developments in the securities market in India and abroad and also keeping in view the interests of investors, SEBI had desired to revisit the KIM.
The undersigned is directed to state that subsequent to Budget 2004 announcements, a number of representations/ references have been received from the trade as well as from the field formations pertaining to the changes made in the excise duty structure on Textiles and Textile Articles. The point raised
The matter has been deliberated upon in this office and it has been decided to suitably amend the said clause allowing DFRC for inputs with prior import condition. In the meantime , it is clarified that no DFRC would be allowed for the inputs with prior import condition because it defeats the very purpose of prior import condition.
It has come to the notice of Board that in some cases, despite issue of EO Discharge Certificate by the DGFT authorities, Customs has issued show cause notices to the licence holder questioning the value of imported capital goods/quantum of export obligation. Later, when the Commissioner increased the CIF value of imported capital goods by issue of an adjudication order.
Wherever import of Penicillins and its salts (ITC HS Code 29411010) is allowed under advance licensing scheme, export obligation period for such licences shall be restricted to three months from the date of clearance of import of first consignment. An endorsement in the Advance Licence shall be made by the Licencing Authority to this effect.
The circulars dated May 14, 1993 and October 21, 1993 referred to above would stand modified accordingly, with regard to calculation of net-worth of the members.
