Circular No. 215/49/96-CX The matter regarding inclusion of notional interest on advances/ deposits in the assessable value of excisable goods have been re-examined in the light of the decision of the Supreme Court in the case of Metal Box India Ltd. v. CCE Madras (1995(75) ELT 49 (SC) and the Madras High Court decision in the case of UOI & Others – V. Lakshmi machines Works Ltd. (1996(62) ECR 265 (Mad)).
Kindly refer to Drawback / PN-1 / 96, dated the 27th February, 1996, announcing the All Industry rates of Drawback in respect of Cotton Handloom Terry Towels and Terry Towelling Cloth, when dyed, falling under SS No.5803 & 6309 (OId 2610 & 2710) of the existing Duty Drawback Table, as under :
The undersigned is directed to refer to the provision of notification no. 148/94-Cus. dt. 13.7.94, Sl. No. 1 of the Table which exempts the import duties on foodstuffs, medicines, clothing etc. imported by reconised charitable organisation for free distribution
Circular No. 214/48/96-CX Representations have been received from the Trade that Central Excise Field formations have been collecting cess on tea waste. Cess is leviable on all tea produced in the country under the provisions of Tea Act, 1953 and no cess is leviable on tea waste or sweepings collected in tea factories.
It is therefore suggested that a provision in the bye-laws may be incorporated regarding the use of the auction proceeds, whereby claims of SEBI will be treated on par with the claims of the exchange and the clearing house.
Circular No. 213/47/96-CX I am directed to refer to rule 52A and 57GG of the Central Excise Rules, 1944 according to which the manufacturer and the registered dealers are required to maintain the invoice-book in a bound form.
Circular No. 212/46/95-CX I am directed to refer to the Board”s Circular No. 160/71/95-CX dated 29th November “95” issued from F.No. 209/31/95-CX.6, whereby it is provided that the AR 4 procedure is required to be followed for export clearances even by a unit whose value of clearances for home consumption was less than Rs. 30 lakhs in the preceding financial year or during the current financial year.
‘The statement shall be issued under the authority of the Board and shall be signed on behalf of the Board of directors in the manner provided for authentication of Balance-sheet and Profit and Loss Account in Section 215 of the Companies Act, 1956.”
Explanation : for the purpose of this clause a public shareholder shall mean a person who is neither a promoter nor does he hold more than 1% equity capital of the company”.
I am directed to refer to the instructions issued by the Board vide circular No. 68/95 dated 15th June, 1995 (F. No. 473/61/94-LC) and to say that a doubt has arisen whether the applications for grant of licences to private bonded warehouses may be granted even though, if violations committed by the party does not come within the exact ambit/ frame work of five years in terms of the aforesaid
