It is further advised that the information on total purchases/sales of sensitive index scrips need not be sent. You may please clarify your custodians accordingly.
Circular No. 503/69/99-CX It is directed to say that various Commissionerates have brought to the notice of the Board that difficulties are being faced in the allotment of New ECC Number because the Central Excise assesses and the registered dealers do not have 10-characters alphanumeric Permanent Account Number (PAN) issued by the Income-tax Department. Several persons have quoted the old Pan/GIR of 8 or 12 characters whereas the New ECC Number should necessarily be based on the 10-characters alphanumeric PAN
In order to bring these trades under similar time schedule as the trades settling through Clearing House, all HDTs will have to be compulsorily settled with the clients’ custodians within two working days of the pay-out date for that settlement at that stock exchange.
Please refer to our circular no. SMD-II/POLICY/CIR-37/99 dated November 26, 1999 whereby the Exchanges were permitted to promote a subsidiary/float a company to acquire membership rights of other Stock Exchange subject to fulfillment of certain conditions as stipulated therein.
Circular No. 502/68/99-CX While reviewing an Order-in-Original passed by a Commissioner, it was observed that the said Commissioner made substantive changes in his order by issuing a corrigendum nearly 10 months after issue of the order-in-original. It was felt, prima facie, that the substantive changes brought about by the corrigendum may be beyond the scope of Section 154 of the Customs Act, 1962
The description under Serial number 1 of fish and fish product was amended to specifically include fish meat only under Public Notice No. 55(RE-99) dated 11.11.98, the same shall only cover fish meat w.e.f. 11.11.98 and therefore other variety of meat shall not be eligible for DEPB benefit between 11.11.98 to 7.5.99. From 8.5.99 meat products shall be eligible for DEPB rate under Serial number 15 of food product as given in Appendix 28A.
Circular No. 501/67/99-CX I am directed to say that the Board has drawn a contingency action plan to deal with any failure of computer system of the banks on account of Y2K problems so that the clearances of dutiable goods are not withheld. Indeed, all the banks have been trying to become Y2K compliant and normally it is expected that the banking system will not be adversely affected. Moreover, the date of occurrence of Y2K problem, if at all it occurs, is Known in advance
Circular No. 500/66/99-CX It has been brought to the notice of the Board that under the existing procedure, the merchant exporters including those manufacturer-exporters, who have to procure the excisable goods for export under bond manufactured in different parts of the country, have to furnish several bonds with the Deputy/Assistant Commissioner of Central Excise of the supplier”s area and submit proof of exports for discharge of such bonds and thus, it is a large documentation and time-consuming procedure.
Circular No. 499/65/99-CX I am directed to say that to encourage the use of Information Technology by every person dealing with the Central Excise Department, the Government has issued notification number 58/99-Central Excise (N.T.) dated 30.11.99 whereby a new rule 226A has been inserted in Central Excise Rules, 1944 providing that any person may electronically maintain or generate records, returns, invoices or other documents using computer. The main features of the new rule
The Stock Exchanges shall comply with the decisions taken above and make suitable changes in their software and hardware so that the schedule for implementation of the first phase of rolling settlement is adhered to.
