Exporters have pointed out that while claiming Duty Drawback as above, they are required to submit original EP copy of the Shipping Bills to the Custom Authorities, which they are not in a position to do as the same have already been submitted to the Regional Licensing Authority while claiming DEPB. This issue has been considered in consultation with Deptt. of Revenue.
Attention is invited to Boards Circular No. 71/98-Customs dated 15th September 1998 granting exemption from Bank Guarantee to manufacturer exporters registered with Central Excise Department subject to conditions specified therein
Companies should co-operate with the Credit Rating Agencies in giving correct and adequate information for periodical review of the securities during lifetime of the rated securities.
Associate Shippers may undertake exports directly or may register qualified exporters to whom permits may be granted for undertaking exports. Associate Shippers will be allocated export quota based on their past export performance. A quota of 5000 MTs of Niger seed should be allocated to The Karnataka State Agricultural Produce Processing and Export Corporation Ltd (KAPPEC Ltd).
Finance Minister, Mr Yashwant Sinha while delivering the Budget Speech for the year 1999-2000 has made an announcement to encourage the Indian Stock Exchanges to open their terminals abroad.
F.No. 354/08/98-TRU Notification No. 32/99 exempts all excisable goods that are manufactured in the two types of industrial units mentioned in para 3 of the notification. These units are either new units which have commenced their commercial production on or after 24.12.97, of these are industrial units which have undertaken substantial by way of increase in installed capacity by not less than 25%. The increase in capacity should have been effective on or after 24.12.97.
Banks are once again advised to forward the annual statement of their activities undertaken as Bankers to Issues in accordance with the aforesaid circular and ensure that all the required information are furnished in the specified format and quarterly as well as annual reports pertaining to their activities as Bankers to issues are submitted on time.
Banks are once again advised to forward the annual statement of their activities undertaken as Bankers to Issues in accordance with the aforesaid circular and ensure that all the required information are furnished in the specified format and quarterly as well as annual reports pertaining to their activities as Bankers to issues are submitted on time.
The Stock Exchange should on receipt of the arbitration award, debit the amount of the arbitration award from the security deposit or any other monies of the member (against whom an award has been passed) and keep the amount in a separate account.
Attention is invited to Public Notice No. 55 dated 11.11.98 wherein the DEPB rate for S.No.3 of Fish and Fish product was increased from 8% to 10%. Various representations had been received wherein the exporters including various associations had pointed out that it was not possible to give changed description of the export product in respect of shipments effected prior to Public Notice No. 55 dated 11.11.98.
