Circular No. 337/53/97-CX An instance has come to notice of the Board where a jurisdictional Commissioner had filled an appeal in CEGAT against the Commissioner (A)”s order remanding the case to Assistant Commissioner to determine whether various goods were eligible for modvat credit as per definition of the capital goods. As the Commissioner (Appeal)”s order was of the nature of simple remand there was no need of filing appeal against this order
It has come to the notice of the Board that doubts are being expressed in the matter of classification of components of Colour Television Sets in the context of provisions contained in Rule 2 (a) of the General Rule for the interpretation of the First Schedule to the Customs Tariff Act, 1975
SEBI has received queries from Stock Exchanges regarding course of action to be taken against the stock-brokers, who are having multiple memberships, and have been declared defaulter at one of the Stock Exchanges. It has also been brought to our notice that if a stock broker is declared defaulter by a stock exchange, the information with regard to his default, is not being passed on to other Stock Exchanges.
Clarifications have been sought on the scope of the SEBI directions issued on December 23, 1996 as to whether it would cover corporates or only infrastructure companies and municipal corporations, and further whether the directions also cover debt instruments convertible into equity.
Circular No. 336/52/97-CX The Government has decided to apply the new scheme of charging excise duty on the basis of maximum retail price to all goods falling under sub-heading Nos. 3306.10 (Tooth Paste & Tooth powders) and 3401.20 and 3402.90 (detergents) to the Central Excise Tariff. Notification Nos. 53/97-CE (N.T) and 55/97-CE (N.T.) both dated 18.9.1997 have been issued under section 4A of Central Excise Act, 1944 in this context. The scheme shall come into force from the 1st day to October, 1997.
Circular No. 335/51/97-CX The manufacturer at the time of clearance of motor vehicle mentioned against S.No.195 in column (3) of the said Table (hereinafter in this condition referred to as the said motor vehicle) has paid excise duty calculated at the rate of 40% ad valorem
When any person acquires or agrees to acquire any securities beyond 5% of the voting capital, the acquirer and the company shall comply with the relevant provisions of the SEBI (Substantial Acquisition of Shares Takeovers) Regulations, 1997.
I am directed to refer Board’s earlier circular No. 80/ 95-CUS. IV dated 6th July, 1995 (copy enclised1) on the above subject. has come to the notice of Board that in some of the Custom Houses, the containers are still sealed with the punch seals. In order to ensure security and safeguard against tampering, the containers should be sealed with tamper proof ‘bottle’ seals. The cost of such seals
The Export Promotion Board has been examining problems of Export production and export clearance regularly under the Chairmanship of the Cabinet Secretary. A number of Sectors specific problems were raised in the meeting on 3rd Sept., 1997. These have been examined and it has been decided by the Board as under
I am directed to refer to Board’s Circular No. 29/ 95 dated 29th March, 1995 (issued from F. No. 473/ 6/ 95-LC) on the above subject and to say that as a measure of further relaxation, it has been decided to do away with the requirement of 5% Bank Guarantee in the case of imported goods of 100% E.O.Us/ EHTP/ STP and EPZ Units. However, a transit bond or an insurance policy equivalent to the
