Import of motor cars, sports utility vehicles/all purpose vehicles shall be allowed only to hotels, travel agents, tour operators or tour transport operators and companies owning/operating golf resorts whose total foreign exchange earning from the hotel, travel & tourism and golf tourism sectors in the current and preceding three licensing years is Rs 1.5 crores or more. The ‘duty saved’ amount on all EPCG licences issued in a licensing year for import of motor cars, sports utility vehicles/all purpose vehicles shall not exceed 50% of the average foreign exchange earnings from the hotel, travel & tourism and golf tourism sectors in the preceding three licensing years. However, the parts of motor cars, sports utility vehicles/ all purpose vehicles such as chassis etc.
Government modifies export controls on rare earths and minerals containing uranium or thorium under the Atomic Energy Act.
Circular No.02 of 2006-Income Tax Section 80-HHC read with section 28 of the Income-tax Act, 1961 has been amended by the Taxation Laws (Amendment) Act, 2005. The section 80-HHC so amended, inter-alia, provides that
In exercise of the powers conferred by sub-section (1), read with sub-section (5) of section 9A of the said Customs Tariff Act, and rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
The above instructions may be brought to the notice of all concerned for effective implementation. Please acknowledge receipt of this circular.
whereas, the designated authority vide notification No. 39/1/1999-DGAD, dated the 1st December, 2005, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 1st December, 2005, after conducting Sunset Review has come to the conclusion that.
The principal notification was published vide number G.S.R. 21(E), dated the 8th January, 1999 and was last amended vide G.S.R. 219(E), dated the 22nd March, 1999.
It is reiterated that the Certificate of Origin (NP) being issued by the agencies listed in Appendix 4-C of HBP Vol. I, should be strictly as per the official format, already notified by this Office as Annexure-II to Appendix 4-C. Agencies listed in Appendix 4-C and found not issuing the Certificate of Origin (NP) as per the prescribed official format, shall invite action as may be necessary, including delisting from the Appendix 4-C of HBP Vol.I.
I am directed to say that certain references have been received from field formations raising doubts over prospective implementation of the orders relating to classification, valuation or other matters having recurring revenue implications when a stay has been granted against recovery by Commissioner (Appeals) or Tribunal.
In exercise of the powers conferred by clause (aa) of sub-section (1) read with sub-section (2) of section 7 of the Customs Act, 1962 (52of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue).
