I am directed to say that doubts have been expressed regarding the jurisdiction of Maritime Commissioners regarding filing of rebate claims and execution of bonds consequent to issue of notifications No. 79/2003-CE (NT) and No. 80/2003-CE (NT) both dated 29.10.2003, amending the notifications No. 40/2001-CE (NT) and No. 42/2001-CE (NT) both dated 26.6.2001.
I am directed to state that clarification was sought as to whether National Calamity Contingent Duty (NCCD) applicable to Crude Petroleum Oil as per Section 136 (1) of the Finance Act, 2001 should be calculated on the net quantity of Crude Petroleum Oil received in the refinery or gross quantity produced and supplied from the oil field to the refinery
The instructions contained in Circular No.24/2003-Customs, dated 1.4.2003, concerning payment of duty drawback to the supplies from DTA Unit to the SEZ Unit, shall also become operative from the date when Chapter XA of the Customs Act, 1962 comes into effect.
Attention is invited to Board’s Circular No. 746/62/2003-CX dated 22nd September 2003 issued vide F.No . 390/85/2003-JC and Circular No. 710/26/2003-CX dated 23rd April 2003 issued vide F.No .390/198(M-2)/2002-JC, wherein field formations were sensitized on the need to remove deficiencies and inadequacies in the manner of filing department appeals. As you are aware
The final settlement price of the notional bond shall be obtained by discounting the cash flows of the notional bond at the YTM of the basket. The precise formulas for arriving at the settlement price, including, the day count and other conventions, shall be fully disclosed to the market.
In view of the above judgment of the CESTAT, the matter has been re-considered by the Board and it has been decided to withdraw the Board’s Circular No. 618/9/2002-CX dated 13-2-2002. The above-mentioned judgment of CESTAT, which has been accepted by Board, may kindly be taken into consideration in deciding similar pending cases.
I am directed to say that under Section 65 of Finance Act, 1944 and as brought out by Board”s letter no. F.B.43/7/97-TRU dated 11.7.97 there must exist a relationship of principal and an agent for bringing grain agent in the ambit of C & F agent of the farmer and in CBEC Circular no. 48/10/2002-ST dated 13.9.2002, it has been clarified that Adhatiya”s (Food grain agents) activity do not fall under the scope of Clearing and Forwarding Agents services and hence would not be liable for Service Tax under this category.
Circular No. 1 of 2004-Income Tax A non-resident or a foreign company is treated as having a permanent establishment or business connection in India under article 5 of the Double Taxation Avoidance Agreements or under section 9 of the Income-tax Act, 1961, if the said non-resident or foreign company carries on business in India through a branch, sales office etc.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
