This Directorate has been receiving representations from various quarters seeking clarifications as regards the Classification of certain specific items under the ITC(HS) Classifications of Exports and Imports Items, 1997-2002. Such requests made in terms of para 4.13 of the policy for issue of appropriate clarifications etc. have been examined and based on the decision(s) arrived at by the committee set up for this purpose.
The exchanges shall explore the possibility of their clearing banks opening special cells in the bank for providing funds to the market makers and creating a corresponding lien on the shares held/traded by the market makers.
A Compendium of Guidelines, circulars, instructions to merchant bankers relating to issue of capital, issued from time to time by the Primary Market Department, has been placed on the SEBI web site today.
Circular No. 509/05/2000-CX It is directed to enclose a copy of Supreme Court Judgement dt. 24.9.99 in the case of M/s Vimal Printery and others. As is evident from the judgement our civil appeal No. D. No. 8814/99 has been dismissed on the ground of delay as well as on merit. The issue involved in this case was whether the party is entitled to the benefit of exemption notification for small scale industry under Notification No. 175/86 dt. 1.3.86 on the grounds that the raw material namely “duplex board” supplied by M/s ITC Ltd.
Regulation 18(4) (f) makes it obligatory upon the trustees to ensure that before the launch of any scheme the asset management company has prepared a compliance manual and designed internal control mechanisms including internal audit systems.
Circular No. 508/04/2000-CX It is directed to say that a doubt has arisen whether merchant-exporters can file claims of rebate of central excise duty paid on ingots and billets of non-alloy steel and hot-re-rolled products of non-alloy steel notified under section 3A of the Central Excise Act, 1944
Attention is invited to Public Notice No. 33 dated 01.10.99 which allows the competent authority to issue EPCG licences to the applicant on the basis of fixation of nexus by Hqrs, EPCG Committee. It has come to the notice of Directorate General of Foreign Trade that the request for all kinds of amendment are made to HQ, EPCG Committee in respect of licenses issued by RLA/ZLA. Many such amendments are or minor nature and referring such cases to Hqrs may result into delay in import or clearance of the capital goods.
It is directed to refer to Board’s Circular No. 50/97-Cus. Dated 17.10.97 on above mentioned subject. In the said Circular, guidelines fror disposal of unclaimed/uncleared cargo and sharing of sale proceeds on the basis of 50:50 between the custodian and Customs were issued as a one-time measure in respect of cargo landed prior to 31.12.96. In the light of severe congestion at ports, the issue was
Attention is invited to the Ministry’s Circular No. 82/98-Customs dated 29th October, 1998 which permits condonationof delay in filing brand rate application beyond the time limit permitted under Rule 6/7 of the Customs and Central Excise Duties Drawback Rules 1971/1995 in certain situations which are enlisted in the Annexure attached therewith
It has therefore been decided to postpone the date for compulsory dematerialised trading in respect of the above scrips by institutional investors and OCBs to a date which would be announced after they complete the formalities.
