Capital goods in Semi Knocked Down (SKD) / Completely Knocked Down (CKD) conditions to be assembled into capital goods by the importer.
In the budget 2008-09, certain amendments have been carried out in the CENVAT Credit Rules, 2004. Rule 6 of CENVAT Credit Rules, 2004 pertains to an assessee who manufactures dutiable and exempted goods and provision of taxable and exempted services. As a general principle, CENVAT credit is not allowed on input or input service used for the manufacture of exempted goods or provision of exempted services [refer Rule 6(1)]. Exception to Rule 6(1) is contained in rules 6(3), 6(5) and 6(6)
The agency mentioned below is added at Sr. No.6 (Andhra Pradesh) in Appendix 4C, (Certificate of Origin Non-Preferential) of Handbook of Procedure.
The Principal notification No.73/2006-Customs, dated the 10th July, 2006 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (1) vide number G.S.R 408(E), dated the 10th July, 2006 and was last amended by notification No.116/2007-Customs, dated the 30th November, 2007 vide number G.S.R 745 (E), dated 30th November, 2007.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy – 2004-09, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items, 2004-09.
In all past cases where Export Obligation Discharge Certificate (EODC) has not been obtained by 30-06-2008 and where vehicles were not registered as Tourist Vehicles, EPCG authorization holders will get them registered as Tourist Vehicles, by 31-08-2008. Regional Authorities of DGFT will monitor and ensure compliance.
Notification No. 62-Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, vide number S.O. 732(E), published in Government of India
Notification No. 61-Income Tax In exercise of the powers conferred by sub-clause (vii ) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in notification of the Government of India, Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section ( ii) vide number
In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/correction at appropriate places as mentioned in ANNEXURE “A” to this Public Notice are made.
In this context it is clarified that the EPCG Authorizations issued from 1.4.2008 to 11.4.2008 shall be deemed to be issued at 3% Custom Duty as per FTP (Revised 11-4-2008) and Customs shall automatically allow clearance of goods at 3% Customs Duty.
