The existing practice in the Board is to restrict the validity of brand rate letter to 31st May every year, as the new Drawback Schedule normally comes into effect from 1st of June. Further extension is given up to 31st August or a case to case basis on written request made by the exporter. This was also laid down in Para 2.1 of Circular No. 21/94-Cus., dated 15-9-1994
Attention is invited to Para 4.19 of the Export and Import Policy, 1997-2002 (RE-2000), which stipulates that wherever any duty free import is allowed or where otherwise specifically stated, the importer shall execute a Legal Undertaking (LUT)/ Bank Guarantee (BG) with the Customs Authority before clearance of goods through the Customs, in the manner as may be prescribed by them. Attention is also invited to para 4.24 of Handbook of Procedures.
I am directed to refer to the Board’s Circular No. 29/99-Cus., dated 25th May, 1999 [See 1999 (108) E.L.T. T48] on above mentioned subject. In the said Circular, it was provided that no consignment of food articles would be cleared without taking no objection certificate from the Port Health Officers (PHOs). Since then several references have been received from the trade as well as Customs
Pursuant to the discussions in the SMAC and provisions of the IT Act, it is clarified that the brokers are allowed to issue contract notes authenticated by means of digital signatures provided that the broker has obtained digital signature certificate from Certifying Authority under the IT Act, 2000.
share certificates, bonds & debentures and for non receipt of miscellaneous reports, shall continue to be made to SEBI Investors Grievance and Guidance Division at Head Office or respective Regional Office as given in Annexure II.
Representations have also been received seeking clarification whether provisions of the Standards of Weights and Measures (Packaged Commodities) Rules, 1977, are applicable to only 131 products, listed in Notification No. 44, on which quality standards have been applied. In this context, it is clarified that, provision regarding applicability of Indian Quality Standards on 131 product is an independent provision. The conditions regarding compliance of the provisions of the Standards of Weights and Measures (Packaged Commodities) Rules, 1977.
Initially the Exchanges shall introduce European style Index Options which shall be settled in cash. The risk containment measures described hereunder are only for premium style European option contracts.
Circular No. 562/58/2000-CX Notification No.5/98-CE dt.2.6.98, at serial No.27, prescribes a rate of duty of 10% for kerosene. Kerosene has been defined as “kerosene, that is to say, any hydrocarbon oil (excluding mineral colza oil land white spirit) which has a smoking point of 18 mm or more (determined in the apparatus known as smoke point lamp in the manner included in the Bureau of India Standards Specification ISI: 1448(p-31) 1968 as in force for the time being)”
Circular No. 561/57/2000-CX I am directed to invite your attention to Board’s Circular No. 30/88- CX- 3 dated 7.12.88 and 32/90 -CX-3 dated 28th June, 90, wherein it was clarified that vulcanization solution or rubber solution was classifiable under Heading No. 40.05 of the Central Excise Tariff.
Pursuant to the recommendations made by the Secondary Market Advisory Committee of SEBI at its meeting held on November 28, 2000, the stock exchanges are directed to implement
