It has been clarified in these Policy Circulars that the credits earned under the Pass Book Scheme may be utilised for imports within a period of one year from the date of grant of credit. In partial modification of the Circulars, it has now been decided that the credits earned under the Pass Book Scheme shall be valid for a period of one year from the date of grant of credit or upto 31.3.1999 whichever is earlier.
The Indian Sugar & General Industry Export Import Corporation (ISGIEIC) Ltd., shall be the sole agency authorised to export Raw Cane Sugar to the U.S.A. against the preferential Ceiling as indicated above. The export of above quantity of Raw Cane Sugar to the USA under the preferential arrangements as indicated above shall also be subject to prescribed pre-shipment Certificate by the Export Inspection Council.
Circular No. 407/40/98-CX I am directed to say that it has been brought to the notice of the Board that the rebates are not being sanctioned to the exporters who paid duty from the “deemed credit register” on the processed fabrics, especially where duty paid fabrics were used in the manufacture of made-up articles and rebate was claimed under the provisions of rule 12(1)(b) of the Central Excise Rules, 1944.
Attention is invited to Ministry’s Budget Notification No. 32/98-Customs (NT) dated the 2nd June, 1998 (Copy enclosed)1 amending Rule 12(1)(a) of the Customs & Central Excise Duties Drawback Rules, 1995, with view to delegating powers of relaxation of this rule to Commissioners of Customs. Rule 12(1)(a) inter alia requires an exporter to make a declaration on the Shipping Bill that a claim for
Circular No. 409/42/98-CX As you are aware, in pursuance of the Supreme Court”s decision for reducing litigation between one Govt. Department and another, a Committee on Disputes was created in the Cabinet Sectt. to examine the disputes and give clearance or otherwise to pursue the litigation. Accordingly, Board started receiving a number of proposals from different Commissionerates.
The EPCG licence holder shall, in such cases, be making a request to the concerned licensing authority requesting for change in the export product mentioning the name and address of the manufacturer who shall be converting the intermediate product into final product. The licensing authority shall allow the aforesaid change after enhancing the export obligation by 50%.
The exporters who have exported the product with a coating weight other than 1000 gms/Sq.Mtr ± 5% during 1.4.97 to 14.4.98 have been denied the DEPB rate, it has been decided that the exporters who have exported PVC leather cloth/foam leather cloth of different coating weight shall be eligible for DEPB @ 17% as was applicable under S.No. 94 of plastic product without referring to coating weight.
This issue has been examined and it has been decided that wherever the DEPB rates have been reduced or value capping has been imposed, the reduction of rate or imposition of value cap shall not be applicable wherever the consignment of exports under DEPB have already been handed over to the Customs Authorities prior to the date of notification for examination and clearance for exports.
As per Paragraph 4.30 of the Handbook of Procedures (Vol. 1) 1997-2002, all cases wherever approval of licences is given by the Committees at the Directorate General of Foreign Trade, the licences shall be issued by the Regional Licensing Authorities. Now it has been decided that till the time normalcy is restored in the Regional Licensing Offices, such licences shall also be issued by the concerned section at the DGFT, Headquarters.
When two or more corporate broking firms merge leading to creation of a new entity, the SEBI registration granted to the extinguishing entity does not automatically devolve upon the emerging entity and the new entity has to fulfil the eligibility criteria and apply afresh for registration and pay the registration fees.
