The exchanges would prescribe a standard format for the electronic contract note (based on the model format prescribed in Annexure A) in its bye-laws, rules and regulations.
Suitable Public Notice for Trade and Standing Order for the guidance of customs field formations may be issued.
In the wake of changes effected in the duties of Customs and Central Excise on 8.1.2004, Government has revised the All Industry Rates of duty drawback notified in the Duty Drawback Table, 2003-2004, by amending the relevant Notification No.26/2003-Customs (N.T.) dated 1.4.2003.
It is further clarified that the condition on import of edible / food products as per Condition No. 8 of the Chapter I A (General conditions of import), of ITC (HS) Classification of Export and Import items shall not be applicable on imports made under Annual Advance Licenses and Advance Licenses for physical exports issued with A.U. condition. Similarly, this condition will not be applicable on imports made by 100% EOUs and units in EPZ / SEZ.
Before accepting the undertaking certain additional factors should also be kept in mind, e.g. whether the land/building is owned or leased, whether the capital goods are hypothecated to a bank or are free from any encumbrances, etc.
All goods landed upto 31.3.2003 and lying uncleared /unclaimed may be taken up for disposal by the Custodians and the process of disposal should be completed by 30.4.2004 by the respective custodians.
I am directed to say that the Board has circulated the views of Development Commissioner (Handicrafts) vide circulars No. 128/39/95-CX dated 25-51995-CX and No 228/114/96-CX dated 19.12.96 about the classification of goods to be classified as “Handicrafts” for availing exemption of excise duty under notification No. 76/86-CX dated 10-2-86. The circular dated 19.12.96 was issued in the light of judgment of the Hon”ble Supreme Court in the case of CCE.,
Mutual Funds should approach BSE (Mr. Kevin Desouza) or NSE (Mr. Uday Mallya) latest by February 4, 2004 to obtain a unique client code for each of their existing schemes and plans (the later wherever the portfolio of the plans is different).
It may please be noted that the amending notifications do not have any retrospective effect. In other words these notifications will not regularise duty free import/ domestic procurement of goods effected by trading units between 24-6-2002 and 1-1-2004.
The Board has received representations seeking clarification with regard to leviability of Service Tax in respect of maintenance & repair of ATMs in terms of Notification no. 20/2003-ST dated 21.8.2003
