This refers to HS Code No. 1701 00 00 in the Schedule-2 of ITC(HS) Classification of Export and Import Items, 2009-2014 under which M/s Indian Sugar Exim Corporation Limited, New Delhi is the designated agency for export of Sugar to EU under Preferential Quota
A scheme for issue of Foreign Currency Convertible Bonds and Ordinary Shares (through Depository Receipts Mechanism) was notified in 1993 (hereinafter referred to as “the scheme”) to allow the Indian Corporate sector to access global capital markets through issue of Foreign Currency Convertible Bonds (FCCBs)/Equity Shares under the Global Depository Receipt Mechanism (GDR) and American Depository Receipt Mechanism (ADR).
Notification No. 11/2010 – Customs (N. T.),New Delhi, 15th February, 2010 – S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: –
Section 74A dealing with the powers of the Commissioner to revise Orders passed earlier was introduced with effect from November 16, 2005. Provisions of the Section have now been made effective retrospectively from April 1, 2005. Extension of time limit for disposal of disputes pending under the erstwhile Delhi Sales Tax Act.
With effect from the quarter ending December 31, 2009, electronic submission of returns has been made mandatory for: * dealers claiming refund * dealers having transactions of inter-state sales and inter-state purchases, either presently or previously anytime under the VAT regime
It has been brought to notice of the Board that difficulties are being faced by exporters in classification of articles declared as handicraft/artware items. It has also been brought to notice that divergent practices are being followed in classifying the goods made of different constituent materials in the Drawback Schedule and applying Note 14 of the Drawback Schedule notification No.103/2008-Cus (N.T.), dated 29.08.2008 in this regard.
Please refer to paragraph 160 of the Second Quarter Review of the Monetary Policy for the year 2009-10 (copy of extract enclosed) wherein it was proposed to link the risk weights of banks’ exposure to NBFCs categorised as Infrastructure Finance Companies (IFCs) to the credit rating assigned to these NBFCs by external credit assessment institutions (ECAIs).
Please refer to paragraph 178 of the captioned policy. NBFCs-ND-SI engaged predominantly in infrastructure financing have represented to the Reserve Bank that there should be a separate category of infrastructure financing NBFCs in view of the critical role played by them in providing credit to the infrastructure sector. Currently, the Reserve Bank has classified NBFCs under three categories, viz., Asset Finance Companies, Loan companies and Investment Companies. It has now been decided to introduce a fourth category of NBFCs as “Infrastructure Finance Companies”(IFCs).
Attention is invited to DGFT Policy Circular No. 1 dated 27.8.2009 to be read with Policy Circular No. 77 dated 31.03.09 on the above subject. Representations have been received from Trade and Industry to clarify as to whether the requirement of disbursement of minimum 15% stated at Sl. No. 3(c) of the Circular No. 1 dated 27.8.2009, is to be adhered for each consignment of precious metal being imported by the Nominated agencies (other than the designated banks) mentioned in Paragraph 4A.4 of FTP.
Notification No. 9/2010 – Customs- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R. 118(E), dated the 1st March, 2002, namely :-
