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Circulars

No Cess on imported Synthetic rubber

November 27, 1997 460 Views 0 comment Print

It is clarified that under the Rubber Act, 1947, Cess is leviable only on natural rubber. Since the Customs Tariff Act, 1975 provides levy of additional duty of customs equal to excise duty leviable on like goods produced or manufactured in India, the levy of cess as additional duty on imported synthetic rubber is illegal and therefore not warranted. You are requested to issue suitable instruction to

Customs House Agents Licencing – Regulations, 1984 Amended

November 27, 1997 325 Views 0 comment Print

These amendments have been made in the light of the deliberations at the Commissioner’s Conference, recommendations made by the committee on Subordinate Legislation, -Supreme Court’s Judgement dated 15.7.96 in the case of M/s Jagat Bandhu Mukherjee v. UOI, representations made by the Federation of Freight Forwarders Association and current requirements.

SEBI : Statement from brokers regarding forged/fake/stolen shares

November 27, 1997 424 Views 0 comment Print

t has been observed recently that cases of forged/fake/stolen shares which are introduced in the market are on the increase and most of them might have been introduced through the sub-brokers. You are therefore, advised, that while forwarding applications for registration of sub-brokers

Export of Rough Diamonds purchased from the Market Permitted

November 25, 1997 232 Views 0 comment Print

A doubt had arisen as to whether rough diamonds purchased from the open market can be exported without any restriction. The issue was examined in consultation with Ministry of Commerce and it was clarified by the Board that there should be no bar for export of rough diamonds even if procured from domestic market provided the payment is received is freely convertible currency

SEBI : Registration of Brokers

November 25, 1997 253 Views 0 comment Print

However, it has been observed that in some cases, persons with a past police record who were admitted as a member of the stock exchange had subsequently indulged in fraud and cheating the public

Circular No. 358/97-Central Excise Dated 24/11/1997

November 24, 1997 433 Views 0 comment Print

Circular No. 358/97-CX A reference has been received from Director, Ministry of Commerce regarding the denial of excise duty exemption benefit to personal computers when brought inside the unit located in the EPZ/ FTZ for maintaining accounts under Notification 126/94-CE dated 2.9.94.

Specified Import Cargo- Fast Track Clearance Procedure

November 21, 1997 1450 Views 0 comment Print

Your kind attention is invited to the Board’s circular letter F.No. 450/ 68/93- Cus. IV dated 10.6.94 prescribing a procedure for expeditious assessment and clearance of goods and Board’s Circular F. No. 450/ 51/ 92-Cus.IV, dated 25.5.92 prescribing a self-assessment procedure for Government Departments, Public Sector Undertakings and other importers fulfilling certain conditions

Circular No. 357/73-Central Excise Dated 20/11/1997

November 20, 1997 472 Views 0 comment Print

Circular No. 357/73-CX I am directed to invite your attention to Notification No. 28/96-CE(NT) dated 31.8.96, as amended by Notification No. 47/97-CE(NT) dated 1.9.97, providing for authentication of challan-book under the provision of Sub-Rule 4 of Rule 57F of the Central Excise Rules, 1994. The said Notification states that each foil of the challan-book shall be authenticated by the owner of the factory or the working partner or the Managing Director

Circular No. 356/72/97-Central Excise Dated 20/11/1997

November 20, 1997 490 Views 0 comment Print

Circular No. 356/72/97-CX Attention is invited to Ministry”s Section 73B Order No. 50/4/97-CX dated 5th November, 1997 and 51/5/97-CX dated 20.11.1997 issued from F.No. 103/5/96-CX.3 where under classification of “Nycil Prickly Heat Powder” was ordered to be made under heading 33.04.

Circular No. 355/71-Central Excise Dated 19/11/1997

November 19, 1997 442 Views 0 comment Print

Circular No. 355/71-CX The question of inclusion of after-sale service expenses in the assessable value has since long been settled after the Supreme Court judgement in the case of Bombay Tyre International. However, a doubt has now been raised relating to the inclusion of expenses of pre-delivery inspection (PDS) and three initial services performed free of cost during initial usage of the vehicle by dealers in the assessable value of motor vehicle

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