Important changes in respect of Customs and Central Excise duty and legislative changes are contained in the four Annexes appended to this letter. Annex I contains Chapter wise changes relating to Customs; Annex II contains Chapter wise changes relating to Central Excise. Annex III contains the clarifications being issued on various matters.
Clause (76) of section 2 of the said Act define the term ‘related party” In sub-clause (v) of the said clause, the word ‘or’ has appeared inadvertently and therefore defeating the intention of that clause. And whereas difficulties have arisen regarding compliance with the provision.
Attention is drawn to Steel and Steel Products (Quality Control) Order 2012 dated 12.03.2012 and Steel and Steel Products (Quality Control) Second (Amendment) Order 2014 dated 31.03.2014 which enforce quality control on all grade of CRGO steel sheets and strips.
In order to simplify procedures and with a view to ensure timely disposal of E-Forms in the office of Registrars of Companies and keeping in view the penal provisions for false declaration as contained in section 448 read with section 447, the following E-Forms with the conditions mentioned along with will be processed and taken on record using the Straight Through Process mode.
In exercise of the powers conferred under Paragraphs 2.1, 2.4 and 2.29 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby allocates a total quantity of 8,100 MTs of raw sugar (at 98 degree Pol), out of non-levy(free sale) quota for export under tariff rate quota(TRQ) to USA for the US fiscal year 2014 (October 1, 2013 to September 30, 2014). This export will be through M/s. Indian Sugar Exim Corporation Ltd, New Delhi.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in Appendix-5 (List of Inspection and Certification Agencies) ofHandbook of Procedures Vol. I (Appendices and Aayaat Niryaat Forms) 2009-2014.
Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the said Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 49/2009- Customs, dated the 15th May, 2009
SEBI has vide circular no. CIR/MRD/DP/ 01 /2014 dated January 07, 2014 introduced guidelines to strengthen the supervisory and monitoring role of the depositories and their participants with respect to issuance and processing of Delivery Instruction Slips.
Sugar includes Organic Sugar. However, export of Pharmaceutical Grade Sugar [(i) Sucrose IP/BP/EP/USP/JP and (ii) Sucrose AR & LR] and Speciality Sugar [(i) Sugar cubes (ii) Sugar sachets (white & brown) (iii) Castor sugar (iv) Demerara sugar (v) Light brown sugar (vi) Icing sugar (vii) Fondant icing sugar (viii) Kathali sugar (ix) Candy sugar (x) Rainbow sugar (xi) Pearl sugar and (xii) Trimoline (invert sugar)] would not be subject to registration requirement.
On a review, it has been decided to restore the limit of Overseas Direct Investments (ODI)/ Financial Commitment (FC) to be undertaken by an Indian Party under the automatic route to the limit prevailing, as per the extant FEMA provisions, prior to August 14, 2013. It has, however, been decided that any financial commitment exceeding USD 1 (one) billion (or its equivalent) in a financial year would require prior approval of the Reserve Bank even when the total FC of the Indian Party is within the eligible limit under the automatic route (i.e., within 400% of the net worth as per the last audited balance sheet).
