Corrigendum to the Notification No. 715(E) dated 19.6.03 regarding effective date of some sections of the Competition Act, 2002.
his circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with Section 10 of the Securities Contracts (Regulation) Act 1956,
It is further clarified that companies under inspection/investigation, or indicated in “vanishing” companies list or “plantation” company or any company involved in any of the stock market scams will not be covered by Simplified Exit Scheme. ROCs/RDs should refer to the Department if they have any doubt about any company.
Apart from duty drawback, exporters also have other schemes for claiming the relief of input stage duties of Central Excise through rebate under Rule 18 of the Central Excise Rules, 2002 or Cenvat Facility under the Cenvat Credit Rules, 2002. It is clarified here that if the input stage duties have been rebated through the instrumentality of any of these schemes, then simultaneous relief under Drawback scheme shall not be admissible.
One of the common feature of all these notifications is that import under the aforesaid two credit certificate schemes and import/export under the new EPCG Scheme has been permitted only through places which are notified in these notifications.
I am directed to refer to representations received from domestic courier companies and field formations of Customs to allow the movement of domestic couriers bags on domestic segment of international flights.
I am directed to invite your attention to the Board’s Circular No. 28/2003-Cus, dated 24.5.2003, on the above mentioned subject. It was clarified that collection of tax revenues is governed by Central Government Accounts (Receipt & Payment) Rules , 1983, and as per the rule 20 of the same , government dues shall be deemed to have been paid in the case of cheques and drafts tendered to the bank on the date on which it is cleared and entered into the receipts scroll.
I am directed to say that the Board has decided to review the Power of Adjudication of the Central Excise officers and the monetary limit prescribed under Section 33 and Section 11A of the Central Excise Act, 1944 with the objective of expeditious adjudication of cases. For this purpose, the Board has decided to prescribe the uniform monetary limit to different categories of officers for the purpose of deciding the competence of adjudication of cases without differentiating whether or not cases involve fraud
I am directed to refer to notification No. 13/2003-CE(NT) dated 1.3.2003 vide which CENVAT Credit Rules, 2002 were amended inter alia to provide for utilization of credit of Additional Duty of Excise leviable under Additional Excise Duty (Goods of Special Importance) Act, 1957{AED(GSI)} for payment of CENVAT duty. Subsequently, Board had issued a circular No. 700/16/2003-CX dated 6thMarch, 2003
The words “National Stock Exchange of India Ltd.”, “NSE” and other references, such as, web-site, etc., need to be suitably replaced by the respective stock exchanges while preparing their own risk disclosure document.
