Circular No.282/116/96-CX It has been brought to the notice of the Board that after the amendment of Rule 57G vide notification No. 14/96-CE (NT) dated 23.07.96 specifying the documents for the purpose of modvat, the credit is being denied by the field formations is cases where the duty has been paid on the inputs under Rule 57F (1)(ii). In this regard it has been stated that under amended Rule 57G
Circular No. 749-Income Tax Under the provisions of section 203, the Drawing and Disbursing Officers (DDOs) of various Central Government Departments are deducting tax from payments made to its employees, contractors, etc. The taxes so deducted are being paid into Government account by book adjustment.
I am directed to refer correspondence with Ministry of Commerce and other agencies regarding setting up of new ICDs/ CFS. The Port Trusts are also being requested by the Ministry of Commerce to also examine the proposals and offer Comments. It is requested that
Circular No. 281/115/96-CX-3 I am directed to say that doubts have been expressed as to whether Cardenol is a product of Cashew Industry and accordingly entitled to the benefit of exemption from Central Excise duty under notification No. 115/75-CE dated 30.4.75.
With increasing trade interaction, many Business Executives are traveling abroad quite frequently. They carry expensive equipment’s like Camera, Camcorder, Cellular Phone, Note Book Computers etc. with them. At the time of departure, they have to the a Export Certificates with them to enable them to bring back the said goods without payment of duty on return. Normally, some to these goods
I am directed to refer to the decision taken in 25th Meeting of Customs and Central Excise Advisory Council on the above subject and in request that all letters/ representations received from the trade/ associations in the Board should be acknowledged and replied. A
The issue relating to the listing of debt securities of a company without prior requirements of its equity having been listed has been considered by SEBI and it has been decided in view of the consistent changes taking place in the capital markets and with basic intention of offering depth to the debt market.
in the event if cancellation/suspension of the registration as stock broker because of any disciplinary action taken against the member by Exchange/SEBI, the member will not be eligible to be elected and/or to continue on the Governing Board.You are advised to implement the above with immediate effect.
Circular No. 280/114/96-CX Under Boards Circular No. 128/39/95-dated 25.5.95, it was clarified that imitation or real zari made of gold, silver thread or man-made metallic yarn made out of duty paid polyester film (metallised / lacquered) namely kaseb, kalabatu. tilla, wire thread or zari thread and metallic yarn should be treated as handicrafts for the purposes of Notification No. 76/86 dated 10.2.86.
Circular No. 748-Income Tax Sections 54EA and 54EB of the Income-tax Act, 1961 have been introduced by the Finance (No. 2) Act, 1996 with effect from 1-10-1996 will consequently apply in relation to transfer of long-term capital assets on or after this date. Capital gains tax will be exempted in cases where net consideration (section 54EA) or the capital gains (section 54EB) is invested in certain approved instruments.
