The one time expenditure payable by the mutual funds to the depository may either be capitalised or may be included as part of recurring expenditure within the limits as permitted under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
Circular No. 765-Income Tax The Central Board of Direct Taxes, vide Circular No. 742, dated 2nd May, 1996, issued guidelines for taxation and computation of income of foreign telecasting companies. The guidelines were applicable up to 31st March, 1998.
Circular No. 386/1/98-CX Fly Ash/ Coal Ash (Cinder) were exempt from Central Excise duty vide Notification No. 76/86 dt. 10.2.1986. In the Budget 1996-97, Notification No. 76/86 was amended vide Notification No. 11/96 dt. 23.7.1996. consequent to which “Cinder” was deleted from the Schedule to Central Excise Tariff Act, 1985.
Board has received information from M/s. Bharat Opthalmic Glass Ltd., Durgapur, West Bengal that certain unscrupulous persons are importing Flint Buttons (which are distintively different from Opthalmic Blanks) and are clearing the same under the description Opthalmic Blanks under Notification No. 11/97 (Sl. No. 95)
Enclosed is a copy of the Standard Offer Document and a copy of the memorandum containing key information for any scheme of a mutual fund.
Circular No. 385/18/98-CX Please find enclosed copy of paras 42 to 45 of the 14th Report of the PAC (11th Lok Sabha) 1996-97. The PAC has observed that the present manner of transfer of cases to Call book is not satisfactory. such transfers raise doubts regarding the manner of disposal of some of the provisional assessment cases themselves, from the list of outstanding cases. While the Board had issued instructions to Commissioners to review the case transferred to call books done (Board”s DO Letter F.No. 101/2/92-CX.3. dated 4th March, 92
It has been brought to the notice of the Board by the trade associations and Ministry of Commerce that the units in EPZ/ EHIP are unable to take out samples to show it to their prospective buyers because of the lengthy procedure to be followed
Instances cone to the notice of the Board through the Commissioner of Customs, Mumbai and also a study of the above mentioned subject by Directorate of Valuation, Mumbai that in a number of cases of import of PTA originating from recognised trading houses in Japan, claiming that the goods are manufactured by M/s. Kohap Chemical Corporation but exported by some other Party are claming
Your attention is invited to the Circular No. 44/97-Custom dated 30.9.1997. The Conference of Commissioner at Chennai had discussed the circular and suggested that the interpretation of Para 6 has created many problem and existing regular importers have started questioning the established assessment practices. They had suggested to review the circular
Circular No. 384/17/98-CX I am directed to say that representations have been received by the Board to the effect that if the EOU is claiming exemption under Notification 8/97-CE dated 1.3.97, the Central Excise Authorities are insisting on payment of additional duties of excise leviable under Section 3 of the Additional Duty of Excise (Textiles and Textile Articles) Act, 1978.
