I am directed to refer to the subject mentioned above and to say that a representation has been received from the Stock Exchange, Mumbai stating that the Customs authorities are insisting on payment of Customs duty when shares held by NRIs abroad are re-imported for sale or dematerialization. It has been stated that presently the NRIs are allowed to invest in India shares and hold
Some of the companies, whose scrips were included in the list of securities for compulsory trading in dematerialised form for all investors, could not sign agreements and establish connectivity.
Attention is invited to Department of Revenue”s Circular Nos. 33/2000-Cus ., dated 2-5-2000 and 42/2000-Cus ., dated 12-5-2000 which were issued outlining the procedure to be followed for permitting export/import under DFRC Scheme. In sub-paras 4.1 to 4.4of Department of Revenue”s Circular No. 33/2000, the procedure to be followed for permitting imports against DFRC licence was
References have been received from trade that the EOUs engaged in development and export of software and software developing units in EPZ/EHTP/STP should be allowed to import software through data communication/tele- communication link and internet. It has been stated that the Reserve Bank of India has permitted authorized dealers to allow remittances towards import of software
Kind attention is invited to the Notification No. 33/94-Cus(N.T.), dated 1-7-1994 delegating powers to Chief Commissioner of Customs for granting waiver of interest on Customs Duty under Section 61 of the customs Act, 1962, in cases where the amount of interest does not exceed Rs. 15 lakhs
Attention is invited to paragraph 4.7 of Handbook (Vol. I), incorporating amendments made up to 31st March, 2000 read with Paragraph 15.4 Ibid which lays down the procedure for issue of fresh/modified IEC in favour of Exporters/Importers. Attention is also invited to Public Notice No.39, 43, 49, 55, 8, 17 dated respectively 16.11.99, 15.12.99, 27.1.2000, 16.3.2000, 28.4.2000, 30.6.2000 according to which all IEC holders were required to modify/update the IEC along with PAN issued in their favour by 30th June, 2000 only on the basis of Appendices 1A, 2A and copy of PAN without any other documents like photograph fee etc. The last date has since expired. It is hereby clarified that modification/issuance of IEC is on going process and will continue even after 30.6.2000.
We have revised the format of quarterly Compliance Test Reports by incorporating the amendments to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. A copy of the revised format, which is effective from the quarter ended June 2000, is enclosed
A review of interim financial information consists principally of applying analytical procedures for financial data and making inquires of persons responsible for financial and accounting matters.
GOVERNMENT OF INDIA MINISTRY OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE UDYOG BHAWAN, NEW DELHI Policy Circular No.14 (RE-99)/97-2002 Dated : 30.06.2000 To, (1) ALL LICENSING AUTHORITIES. (By Name) (2) ALL CUSTOMS AUTHORITIES. (3) ALL EPCs/COMMODITY BOARDS. (4) ALL CHAMBERS OF COMMERCE AND INDUSTRIES/ASSOCIATIONS. Subject:-Classification of various Products under ITC(HS) Classifications of Exports & Imports […]
A number of representatives has been received from trade and industry for allowing consolidation / reworking of LCL cargo at gateway ports or at CFSs near gateway ports, for further despatch to the destination ports. The proposal is to create IIUBs near gateway ports where the LCL cargo brought from various ICDs/CFSs will be reworked and thereafter sent to various destinations
