Attention is invited to notification no.41 dated 12.2.99 and notification no.42 dated 5.3.99 placing quantitative ceiling at the disposal of the canalising agency for three months (till May,99). Subsequenty instructions were issued from time to time to allow shipments against the NOCs issued till 31.5.99.The last date prescribed hitherto for such shipments was till 15.7.99
Circular No. 492/58/99-CX I am directed to say that doubts have been raised as regards charging of excise duty with references to maximum retail price under section 4 A in respect of “multi-piece packages”, on the basis of claim made by certain manufacturers that there is no statutory requirement for declaration of retail sale price on such packages under Standards of Weights and Measures Act, 1976 or any rules made there under.
Circular No. 491/57/99-CX In regard to introduction of this new system, the Director General of Anti-Evasion, who is a member of the Co-operative Working Group of the Central Excise Projects, has already addressed all Chief Commissioners and Commissioners demi officially vide letter D.O. No. DGAE/CIDA/III/99 dated 6th October 1999 outlining the background and the actions required to be taken by the commissioners and other officers. The same should be followed scrupulously to the extent they are not inconsistent to the decisions and guidelines of the board, contained in this Circular.
Circular No. 490/56/99-CX I am directed to say that representations have been received by the Board that in some Commissionerates, the credit of Additional Duty of Customs paid on the goods (other than Capital Goods) classified under Heading 98.01 of the Customs Tariff imported under Project Import Regulations, 1986 has been restricted to 75% on the ground that Rule 57Q(3) restricts the admissible credit in such cases to the extent of 75% only. They have requested that the credit in respect of raw material,
The problem is confronted in cases where one of the bulk drug of the formulation has a DEPB rate whereas the other constituent bulk drug is not having any rate. The issue of calculation of DEPB rate in respect of formulations consisting of more than one bulk drug was raised in various Open Houses. It has therefore been decided to issue a clarification on the manner in which the DEPB rate is to be calculated.
“Necessary co-operation would be given to the credit rating agency (ies) in providing true and adequate information till the debt obligations in respect of the securities are outstanding.
Circular No. 489/55/99-CX I am directed to say after the imposition of Central Excise duty @ Rs. 2 per Kg. on bulk tea, problem of granting of rebate to the merchant exporters has arisen, especially those who purchased the tea from the market or in public auction and export after blending/packaging the same. The problem has now been sorted out by declaration of All Industry Rate of Drawback under sub-serial Number 0921 @Rs. 2 per Kg. (All Central Excise) [to the extent of in digenous proportion] with effect from 1-6-1999, prospectively.
Circular No. 488/54/99-JC Please refer to the various instructions issued by the Board from time to time particularly Circular No. 313/29/97-CX, dated 6-5-1997, Circular No. 319/35/97-CX, dated 27-6-1997 [See 1997 (93) E.L.T. T31] and Circular No. 476/42/99-CX, dated 3-8-1999 [See 1999 (112) E.L.T. T7].
SEBI has prescribed that every stock exchange has to submit a monthly development report containing developments during that month. In addition to this, stock exchanges are now advised to submit a report to SEBI immediately whenever a substantial number of trading terminal.
However, Part A of this Clarification shall not be applicable to those companies which have filed their prospectus with Registrar of Companies or Letter of Offer with Stock Exchanges on or before October 18, 1999. Unless otherwise modified by this clarification all the existing provisions of the Guidelines and the Clarifications issued by SEBI from time to time shall remain in force.
