It may be mentioned that the amending notification does not in any way alter the scope of the existing notification and is only in the nature of correction of spelling. The benefit of conecessional rate of duties as applicable, may not be denied on this account and pending cases, if any, may be disposed off accordingly.
The exemption contained in these notifications is applicable either to the new industrial units or units undertaking substantial expansion by way of increase in installed capacity by not less than 25%.
Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately.
I am directed to say that clarification has been sought regarding the time limit for exercising the option in writing for availing of the exemption under notification no. 49/2003-CE dated 10.06.2003 and notification no. 50/2003-CE dated 10.06.2003 as amended vide Notification No. 76/2003-CE dated 5.11.2003.
Recently the Central Board of Excise and Customs issued a circular, Circular No. 4/2004 dt. 16-01-2004 [2004 (163) ELT T29], saying that conversion of Shipping Bills from free Shipping Bill to drawback Shipping Bill or from one export incentive scheme to other should not be encouraged. The said circular imposes conditions which have made it almost impossible to attain such conversion. In this context, the present paper seeks to examine the relevant legal provision for such conversion under the Customs Act, 1962, and propriety and legality of such circular.
DGFT clarifies agency commission limits for DEPB calculation, allowing up to 12.5% of FOB value. Commissions above this limit will be deducted.
With a view to imparting transparency in bulk deals so as to prevent rumours/speculation about such deals causing volatility in the scrip price, it has been decided to bring about greater disclosure
The Stock Exchanges may shift these companies from TFTS to NRS provided there are no other specific grounds for continuation of the trading in these scrips in TFTS.
Stock Exchanges are directed to implement the above requirement with immediate effect and take necessary disciplinary action wherever violation of the above provisions are observed.
It is, therefore, requested that the grievances of the exporters on this account may be redressed urgently and necessary instructions issued to the field formations under your charge.
