In order to facilitate promoters to dilute/offload their holding in listed companies in a transparent manner with wider participation, it has been decided to allow the offer for sale of shares by promoters of such companies through a separate window provided by the stock exchange(s). The guidelines for the same are as under:
Circular No.03/2012 – Customs – The matter of correct classification of fused silica under the First Schedule to the Customs Tariff Act, 1975 was taken up for discussion during the Conference of Chief Commissioners of Customs on Tariff and allied matters held in May 2011. After examining the various entries in the said schedule and the technical aspects of the product in question, it was decided that the Chief Commissioners under whose jurisdiction the import of fused silica are taking place, shall furnish the technical details of the product to the Board; it was also decided to seek an expert opinion before arriving at a final decision regarding classification of the product. Board now clarifies that ‘Fused Silica’ is correctly classifiable under tariff item 32074000.
AD Category-I banks are advised that a further revision has taken place on January 17, 2012 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.71.456679 with effect from January 20, 2012. AD Category-I banks may bring the contents of this Circular to the notice of their constituents concerned.
PUBLIC NOTICE No. 94 (RE-2010)/2009-14 Description of input items have been mentioned in more specific details and quantities rationalized for export of Assorted Confectionery made of Cane Sugar. Another entry has also been created for Sugar free Assorted Confectionery.
Description of export product is amended to read as ‘Biscuit’ instead ‘Biscuits (with or without Dry Fruits)’. Description of import items have been mentioned in more specific details and quantities rationalised.
PUBLIC NOTICE NO.92 (RE-2010)/2009-2014 This notifies the SION for export product Instant Fruit Juice Powder /Crystals (both with sugar and sugar free). These are two new entries.
n pursuance of clause (b) of paragraph 2 of the Public Provident Fund Scheme, 1968 and of sub-clause (ii) of clause (e) of rule 2 of Senior Citizens Savings Scheme Rules, 2004, the Central Government hereby further auhorises the following 111 branches of Central Bank of India to receive, with immediate effect, subscriptions under the Public Provident Fund Scheme, 1968 and Senior Citizens Savings Scheme Rules, 2004:—
FACTORING REGULATION ACT, 2011 -(No. 12 of 2012)* An Act to provide for and regulate assignment of receivables by making provision for registration therefor and rights and obligations of parties to contract for assignment of receivables and for matters connected therewith or incidental thereto.
On 18th June, 2010, the Authority had put up a draft in the nature of a Discussion Paper on the need to prescribe standards and procedures for Needs Analysis for sale of life insurance policies. Needs Analysis by the intermediaries and the insurance companies is necessary before effecting the sale of a life insurance policy in order to ensure that the product that is proposed to be sold is suitable for the prospect and meets his or her needs.
Notification No. 10/2012 – Customs (N. T.) – Government has increased the tariff values of Brass Scrap (all grades) from USD 4007 to USD 4078 and changed the tariff value of poppy seeds from USD 1970 to 2205.The Tariff Value of Gold is increased from 526 to 556 USD per 10 grams and the tariff value of silver is increased from 953 to 1067 per kilogram. Tariff value was fixed for gold and silver only last month by Notification No. 2/2012-Cus(NT) dated 13th January 2012. There is no change in the tariff value of other items.
