It has been brought to the notice of the Board that a 100% EOU has cleared cotton yarn manufactured from duty free locally procured cotton yarn and imported Poly Vinyl Acetate, to Domestic Tariff Area, by availing of the exemption notification No. 8/ 97-CE dated 1.3.97. The notification No. 8/97-CE stipulates that benefit would be available to the goods produced or manufactured in a 100%
I am directed to refer to Board’s Circular No. 41/ 97-CUS dated 19.9.97 (F.No. 473/ 31/ 97-LC) on the subject cited above and to inform that the said Circular may be treated as amended as follows
Representations have been received from Exporters for grant of credit under the erstwhile passbook scheme, announced in para 54 of the Exim Policy (1992-97), for certain export consignments for which shipping bills were filed prior to 31.3.97, but where the date of bill of lading or mate receipt falls after 31.3.97. The date of export, as per Handbook of Procedures (Vol.1), related to Exim Policy
Please refer to the clarification No. XXI to the Guidelines for Disclosure and Investor Protection providing for 100% book building process for new issues which was communicated to the stock exchanges vide SEBI Circular No. SMD/POLICY/CIR-33/97 dated December 05, 1997.
Circular No. 367/83/97-CX The Budget of 1994 brought forth ad voleram rate of duty on various mineral oil products which were earlier chargeable to specific rate of duty on the basis of per K.L. at 15 degree centigrade. In light of aforesaid change, Representations have been received from the field formations regarding the problems being faced by them in computation of storage and transit losses with regard to mineral oil products as to whether the same has to be computed at 15 degree centigrade or Natural atmospheric Temperature
Circular No. 366/82/97-CX With the advent of liberalisation, many of the parts and components of machineries and house-hold appliances including items such as televisions, music systems, etc., have been allowed for import without import licence though the equipment itself is not yet allowed for import or is allowable under Special Import Licence. In addition, the import duty on the complete built unit is higher than the import duty on the components.
I am directed to enclose a copy of the Notification No. 86/ 97 dated 24.11.97 and to say that the above Notification has been issued to bring parity of the provisions for the units availing of the exemptions under Notification No. 95/ 93-Cus. & 96/ 93-Cus both dated 2.3.1993 and Notification No. 133/ 94- Cus. dated 2.6.1994
Circular No. 365/81/97-CX I am directed to refer to notification No. 48/97-CE(NT) dated 2nd September, 1997 issued under Section – 12 of the Central Excises Act, 1944 amending notification No. 68/63-CE dated 4th May, 1963, making Section – 142 (1) (c) (ii) of the Customs Act, 1962 applicable to like matters in Central Excise, thereby empowering Central Excise Officers to attach and sell movable and / or immovable properties of any person who has failed to pay any sum due to government. The rules framed under this provision has consequentially become applicable to the Central Excise matters.
Circular No. 364/80/97-CX Despite clear instructions from the Board in regard to the subject, a number of instances are still coming to notice where Commissioners are proposing appeals against CEGAT Orders in cases other than involving determination of any question having a relation to the rate of duty or value of goods for purposes of assessment. Such unnecessary references are causing undue delay in regard to proper course of the action under the law.
We have been receiving requests from stock exchanges seeking clarification regarding trading rights of the members who are corporatising their individual membership, pending SEBI Registration.
