In supersession of Circular No. 17/ 97-Cus dated 4.6.97 issued by the Directorate of Drawback, Deptt. of Revenue, Ministry of Finance, on the above subject, the following guidelines regarding requirement/ acceptance of certificates of non- availment of Modvat facility for the purposes of processing the drawback claims may be followed in future
The Ministry has announced the new All Industry Rates of Drawback effective from 2.9.98 vide Notification No. 67/98 dated 1.9.98. A copy of the Press Note issued is enclosed1 highlighting the important changes made in the Drawback Table
Circular No. 416/49/98-CX It has been brought to the notice of the Board that there exists some doubt in the field formations with regard to powers of entertaining refund applications in cases where refund has to be granted under provisions of Rule 97 and Rule 173 (L) read with Section 11B wherein the goods originally manufactured and cleared for home consumption on payment of duty are returned to another factory, related or not to the original factory, for repair,
It is hereby clarified that the items which are canalised can be imported by Canalising Agency only and not by an individual importer. An individual importer shall require an Import licence issued under Paragraph 4.8 of the Export and Import Policy (1997-2002) as amended.
Circular No. 415/48/98-CX I am directed to draw your attention to para 5.2 of the Board”s Circular No. 81/81/94-CX dated 25/11/1994 and para 6.2 of Board”s Circular No. 87/87/94-CX dated 26/12/94, wherein it has been provided that where the AR4 indicates that the export is in discharge of an export obligation under a Quantity-based Advance License or a Value based Advance Licence issued under the Duty Exemption Scheme, the consignment should invariably be examined and sealed by the Superintendent of Central Excise himself.
Regln 6(a) was amended stipulating that the applicant for a temporary licence should be a graduate from a recognized university and have experience of Customs clearance work for a period of not less than three years inthe capacity of form ‘G’ pass holder, in addition to the other earlier existing conditions. The commissioner could relax this period from 3 years to 1 year for reasons to be
Circular No. 414/47/98-CX “From the perusal of the order we find that the Superintendent has placed the draft appeal along with the grounds of appeal and put up for approval with the authorisation letter before the Collector. There is no indication whether Collector had applied his mind with reference to the impugned order for filling appeal or not. There was no mention of his approval for filing the appeal.
The SEBI (Foreign Institutional Investors) Regulations, 1995 have been amended from time to time so as to increase the scope of investments by FIIs and to simplify the registration procedure. The latest copy of the Regulations is available at SEBI website: www.sebi.gov.in . This procedure is also available on our web-site as a press release.
It has come to the notice of the Board that certain Custom Houses had refused to allow drawback and other export benefits on export goods which were procured by foreign buyers during their visit to India by making payment in freely convertible foreign currency which was deposited in case with authorised foreign currency which was deposited in cash with authorised foreign exchange
It has now come to SEBI’s notice that some of the registrars are not aware of the said amendment though it was notified in the Government gazette.
