All past approvals granted by the Inter Ministerial Committee have lapsed on 31.3.2001; renewal of the same shall be considered by the Committee in the light of these guidelines, upon fresh application. If upon consideration, the same is approved for renewal, the renewal shall be effective from 1.4.2001 in these cases.
The matter of requirement of quantitative continuous listing conditions to be complied by the listed companies to maintain a minimum floating stock post listing was discussed in the meeting of the Secondary Market Advisory Committee.
As recommended by the Mutual Funds Advisory Committee of SEBI, it has been decided that the mutual funds shall disclose large unitholdings in the scheme which are over 25% of the NAV.
The above procedure shall apply to all the schemes for which preliminary/final observations have been communicated to the mutual funds.
It is reiterated that in respect of exports made under DFRC Scheme, AIR of drawback or brand rate of drawback, as the case may be, shall be available as mentioned in Para 1 above. Further AIR of Drawback in respect of export made during the period 1.4.2000 to 31.5.2000 shall also be available as mentioned in para 2 above.
DEPB benefit is available only when the inputs gone into the manufacture of export product have suffered duty. Hence, once the party has availed benefit of customs notification No.32/97, facility available under 32/97 (DEPB Scheme) are exclusive and independent of each other.
In terms of Chapter 4 of the Finance Bill, 2001, amongst other proposals of Central Excise Taxes, it has been proposed to subject ready-made garments and clothing accessories bearing a registered brand name or sold under a registered brand name, and falling under Central Excise Tariff Headings 62.01 and 62.02, to a Cenvat levy of 16% ad valorem with effect from 1.3.2001.
Brief details of cases where proof of import of duty payment has been insisted upon for claims under All Industry Rates by the Custom House may be brought to the notice of the Board.
In accordance with Regulation 59, all mutual funds are required to publish their unaudited financial results as specified in Twelfth Schedule before the expiry of two months from the close of each half.
it is clarified that, as a matter of rule, no evidence of actual duties suffered or imported or indigenous nature of inputs, even if the All Industry Rate has customs portion, should be insisted upon by the field formations alongwith declaration filed by exporters under Rule 12(1) (a) (ii) of the Customs & Central Excise Duties Drawback Rules, 1995.
