F.No. B-4/5/2000-CX I am directed to say that certain changes have been made in relation to the CENVAT rules. These are contained in notification 37/2000-Central Excise( N.T). dated 3rd May, 2000. Copy of the notification is being sent separately. However, this can be downloaded from the web site of the Ministry of Finance
In the above mentioned revised Exim Policy, as has been notified on 31.3.2000, paragraph 10.2(g) has been amended to exclude the supply of goods to oil and gas sector from the ambit of ” deemed exports”. Various representations have been received from the exporters requesting to restore the benefit of discharge of export obligation through supplies made to oil and gas agencies.
It is directed to refer to the Board’s Circular No. 31/99-Cus. Dated the 27th May, 1999 on above-mentioned subject. It has been brought to the notice of the Board that 90% of Indian cargoes are being transhipped over foreign ports i.e. dubai, Singapure, and Colombo, as transhipment through these ports is cheaper than that through the Indiat Ports. Such transhipment through foreign ports
Circular No. 528/24/2000-CX It is directed say that Rule 173 GG of the Central Excise Rules, 1944, which provided for the special procedure for monthly payment of duty by manufacurers availing of the exemption under a notification based on value of clearances in a financial year ( Small Scale Industries ), has been omited with effect from 1st April, 2000.
Keeping in view the genuine problem of the exporters , it has been decided that all exporters who have established irrevocable Letter of Credit for export of items for payment in Indian Rupees prior to 28th January,2000 may be allowed to export under the erstwhile paragraph 11.7 of the Policy (RE-99) , provided that the shipment is effected by 30th June,2000 and there is no change in the description of the goods as reflected in the original Letter of Credit.
Attention is invited to para 7.4 of the Exim Policy and Paras 7.55 to 7.62 of the Handbook of Procedure, Vol.I of Policy period 2000-2001 in terms of which DFRC licence would be issued to eligible manufacturer exporters or merchant exporters for import of inports used in export product. Customs Notification No. 48/2000-Cus. Has been issued on 25th April, 2000 to facilitate import under
Circular No. 527/23/2000-CX It is directed to draw your attention to Para 9.3 and Para 10.1 of Board’s Circular 81/91/94-CX dated 25th Novemeber, 1994 and 87/87/94-CX dated 26th December, 1994 respectively and to say that one of the requisite documents for aceptance of proof of export before sanctioning rebate or allowing credit in running bound account or discharging individual export bond is “atested copy / photocopy of the Shipping Bill ( export Promotion Copy )”.
It has been decided that the short seller who does not either own share or has not borrowed shares (which in that case shall be deposited with the clearing corporation/clearing house) the carry forward charges shall not be payable to the short seller.
SEBI had earlier decided in the meeting of the Inter-Exchange Surveillance Group (ISG) held on January 14, 2000 and communicated vide letter no. IES/LKS/208/2000 dated January 18, 2000, that price bands for the top 100 scrips shall be relaxed.
In this connection, it is clarified that the companies which are already listed on one or more Stock Exchanges would be allowed to change the standard denomination of their equity shares only if they are in the compulsory demat list for all the investors announced by SEBI from time to time.
