It has been decided that a variation of – 5% in weight against Registration Certificates issued for export of cotton yarn shall be allowed. Thus a variation of – 5% in weight in exports of cotton yarn against registered contracts shall not be treated as default for the purpose of imposition of penalty or debarment from future registrations.
General Circular No. 60/2011 In continuation of the Ministry’s General Circular No. 59/2011 dated 5.8.2011 on the subject cited above, it is stated that the said scheme shall be applicable to Form 52 (filing of annual accounts by a foreign company) as foreign companies are included in the scheme.
It has come to the notice of the Board that some unscrupulous importers are illegally importing pesticides under various headings of harmonised tariff by declaring their chemical names instead of both common and chemical names.
LETTER [F.NO. 137/25/2011 – SERVICE TAX], Representations have been received seeking clarification regarding leviability of service tax on the additional amount that is collected towards the delay in making payment to the stock brokers by their customers (delayed payment charges) in respect of Stock Broker’s services.
Notification No. 107/2011 – Income Tax In exercise of the powers conferred by clause (a) of sub-section (1) of section 3 of the Minimum Wages Act, 1948 (Central Act XI of 1948) read with sub-section (2) of section 5 thereof, the Government of Kerala after considering the objections and suggestions received on the draft proposal previously published under Notification No. 10690/E1/2007/LBR, dated 13-12-2010 in the Kerala
NOTIFICATION No.71 /2011-CUSTOMS in the matter of continuation of anti-dumping duty on ‘Partially Oriented Yarn(POY)’, falling under heading 5402 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, the China PR imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 92/2007-Customs, dated the 3rd August, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.535 (E), dated the 3rd August, 2007, and has requested for extension of anti-dumping duty upto one more year, in terms of sub-section (5) of Section 9A of the said Customs Tariff Act;
Notification No.73/2011-Customs, In the matter of continuation of anti-dumping duty on imports of nylon filament yarn of specification ‘synthetic filament yarn including synthetic monofilament of less than 67 decitex, of nylon or other polyamides falling under Chapter 54 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), excluding all high tenacity yarn of nylon including fishnet yarn of nylon, originating in, or exported from, People’s Republic of China, Chinese Taipei, Malaysia, Indonesia, Thailand and People’s Republic of Korea ,imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 85/2006-Customs, dated the 29th August, 2006, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.512(E), dated the 29th August, 2006, and had recommended for extension of anti-dumping duty, in terms of sub-section (5) of section 9A of the said Customs Tariff Act;
NOTIFICATION No.72 /2011-CUSTOMS Now, therefore, in exercise of the powers conferred by sub-section (2) of section 9A of the said Customs Tariff Act read with rules 13 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the aforesaid findings of the designated authority, hereby imposes on the subject goods, the description of which is specified in column (3) of the Table below, falling under heading of the First Schedule to the said Customs Tariff Act as specified in the corresponding entry in column (2), originating in the country specified in the corresponding entry in column (4), and produced by the producer specified in the corresponding entry in column (5) and exported by the exporter specified in the corresponding entry in column (6), and imported into India, an anti-dumping duty equal to the amount arrived at by applying the percentage indicated in the corresponding entry in column (7), of the said Table.
Notification no 64 of 4th August mentions that only units having installed marble gangsaw machine on or prior to 31.3.2011 and cumulative turnover of atleast Rupees Five Crores during the 5 years 2005-06 to 2009-10( whether domestic or foreign) alongwith other conditions will be eligible to apply for import quota. Intention is to only consider manufacturing turnover and it is with this intention that we have said that marble gangsaw needs to be installed in the unit on or prior to 31.3.2011.
Presently, Repo and Reverse Repo auctions under Liquidity Adjustment Facility (LAF) are conducted between 9.30 am and 10.30 am and the Marginal Standing Facility (MSF) is available between 3.30 pm and 4.30 pm on all working days in Mumbai, except Saturdays. FMD.MOAG. No.62/01.01.01/2011-12
