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Notifications/Circulars

Non-requirement of submission of Proforma Invoice-Amendment in ANF 2B

January 17, 2011 928 Views 0 comment Print

ANF 2B has been prescribed as the application form for import of restricted items. It has 14 entries & 7 declarations. It also contains a set of guidelines for the applicant towards the end of the form. Guideline 4(b) requires a self certified copy of the proforma invoice from the foreign supplier. It has been decided to dispense with this requirement. Such self certified copy of the proforma invoice from the foreign supplier would no longer be needed to accompany the application form.

Import of Natural Rubber under the Tariff Rate Quota (TRQ) Scheme in the current financial year 2010-2011 under Para 2.59 of HBP Vol.I, 2009-2014

January 17, 2011 529 Views 0 comment Print

In view of Customs Notification No. 128/2010-Customs dated 22.12.2010, to allow import of Natural Rubber under exim codes 4001 21, 4001 22 and 4001 29 at concessional duty in the current financial year 2010-11, it has been decided by Director General of Foreign Trade to invite applications for allocation of the TRQ of Natural Rubber.

Clarifications on issues pertaining to EPCG Scheme raised in the Port Officers’ Meeting held on 03.12.2010

January 17, 2011 780 Views 0 comment Print

It cannot be accepted for EO fulfillment against the authorization obtained by the Yarn Supplier unless supplies are covered under Chapter 8 of FTP/HBP.Vol.I as the linkage of supplies to garment manufacturer cannot be established otherwise.

Provision of 0.25 Percent for standard assets of NBFCs

January 17, 2011 10330 Views 0 comment Print

General Provisions (including that for Standard Assets) and loss reserves to the extent these are not attributable to actual diminution in value or identifiable potential loss in any specific asset and are available to meet unexpected losses, to the extent of one and one fourth percent of risk weighted assets.

BCCI no more a National Sports Federation and have to pay duty on goods imported

January 17, 2011 544 Views 0 comment Print

The Ministry of Youth Affairs and Sports has informed that the Board of Control for Cricket in India (BCCI) has not complied with the mandatory requirements of submitting the necessary documents to the Government of India for annual recognition as a National

Amendments to CST Act,1956 – VAT Cir-2T of 2011

January 17, 2011 5446 Views 0 comment Print

The sub-section (1) of section 20 has been amended to provide for appeal to the Central Sales Tax Appellate Authority against the Tribunal order in respect of issues relating to stock transfer or consignment of goods in so far as it involves a dispute of inter-state nature.

SEBI – Reporting of Offshore Derivative Instruments (ODIs)/Participatory Notes(PNs) activity

January 17, 2011 1045 Views 0 comment Print

This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Insurance – Updating policyholders about change in network hospitals and TPAs

January 16, 2011 912 Views 0 comment Print

CIRCULAR NO. IRDA/TPA/GDL/CIR/008/01/2011, DATED 12-1-2011 1. It has come to the notice of the Authority that in some instances policyholders could not get cashless facility at the hospital approached, due to change in the network hospitals and/ or the servicing TPA by the insurers, about which the policyholder was not properly informed. 2. Where the […]

Punjab National Bank e-payment facility

January 15, 2011 2713 Views 0 comment Print

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI OFFICE OF THE COMMISSIONER OF VALUE ADDED TAX DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN,  I.P. ESTATE, NEW DELHI-110 002 No.F.7(7)/Policy-III/VAT/2005-06/ 1878-89 Dated:  06-01-2011 NOTIFICATION No.F.7(7)/Policy-III/VAT/2005-06/ : In exercise of the powers conferred under sub-rule (5) of […]

Re-Credit Certificate for Re-export of defective/unfit goods and/or Re-assessment of Debited Duty and/or re-exports on account of any other reason

January 14, 2011 3025 Views 0 comment Print

In the case of re-export of defective or unfit goods or re-assessment of debited duty, Customs issues a Re-credit Certificate containing particulars of scrip used, date of import of re-exported goods and amount debited while importing such goods / re-assessment details. Customs shall permit use of this Re-credit Amount to the extent of 98%, within a period of 6 months from the date of issuance of re-credit certificate.

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