The positions referred to would exclude the positions pertaining to the pure securities borrowers to the extent that the collateral securities are kept with the clearing house/corporation.
The Rule 7 of the Central Government Account (Receipts and Payments) Rules ,1983 interalia provides that Government dues including taxes can be credited by the taxpayers directly into any branch of an authorised Bank. As per Rule 79 of the Treasury Rules of the Central Government, such payments / credits can be mad by cheques also. Accordingly, a large number of tax payers including the Service tax assessees discharge their tax liabilities by depositing a cheque for the required amount in the authorized Banks.
Please refer to our earlier circular no. SMDRP/Policy/cir-23/2000 dated May 29, 2000 advising inter alia the list of companies for compulsory settlement of trades in dematerialised form for all investors.
F.No. 345/7/2000-TRU It is directed to draw your attention to the recent amendments made in the Central Excise Rules, 1944 allowing the assessees to discharge their duty liability on fortnightly basis. Representations have been received in this regard, whereby some of the assessees have expressed their desire to continue to pay the excise duty on consignment basis.
The Circulars mentioned in the preceding paragraph were issued in regard to clearance of goods stored in a custom bonded warehouse by adjusting custom”s duty in a DEPB scrip. Representations have been received for further extention of the said facility in view of extension of the said facility in view of extension of DEPB Scheme to customs stations notified under DEPB scheme vide
I am directed to invite your attention to the Board”s Circular No. 55/2000-Cus., dated 30th June, 2000 on above mentioned subject. The said circular was issued to create HUBs near gateway ports where the LCL acrgo brought from various ICDs/CFSs will be reworked and thereafter sent to various destinations directly. In regard to the procedure contained in the said circular following
Circular No. 541/37/2000-CX The Tribunal vide Final order No.39/2000-D dated 4.1.2000 reported in 2000 (38) RLT 170 (CEGAT) in the case of Guru Overseas Pvt. Ltd. Vs. CCE, Delhi had decided that the car seat covers – whether of “Leather” or “Textile” are accessories and classifiable under Chapter sub-heading 8708.00.
In terms of our circular SMDRP/POLICY/CIR35/2000 dated August 04, 2000, it was provided that the provisions of this circular shall be applicable to issues for which draft offer documents have been filed with SEBI on or after June 15, 2000.
I am directed to refer to the subject mentioned above and to say that a representation has been received in Board”s office Electronic Components Industries Association (ELCINA) regarding denial of the benefit of notification to BOPP film and Hazy film used in the manufacture of the capacitors
Circular No.749 – Income Tax Under the existing provisions of the Income-tax Act, agricultural income is not included in computing the total income as per the provisions of clause 1 of section 10 of the Income-tax Act. The term ‘agricultural income’ has been defined in sub-section (1A) of section 2 of the Income-tax Act. The provisions of clause ( c) of this sub-section, include within the definition of agricultural income
