The Central Government has issued Notification no.2/2003 dated 1.3.2003 in the current year’s Budget rescinding the earlier Notification no. 6/99 Service Tax dated 9.4.99 which exempted taxable services from payment of service tax so long as payment for services rendered is received in convertible foreign exchange which is not repatriated outside India. Consequent to the issue of Notification no. 2/2003 cited above, service tax would be leviable on all taxable services consumed or rendered in India, irrespective of whether the payment thereof is received in foreign exchange or not
Commissioner of Customs (Import), Mumbai has reported a novel modus operandi adopted by the subject two parties with a view to illegally avail benefits under DEPB Scheme. The exporters used to pick containers from shipping agents at Mumbai and show as if these containers were to be transported to their factory premises at Viralimalai (Tamilnadu) for stuffing of goods.
You are aware that as per the decision taken by the Government, DGFT issued Public Notice No.62 dated 17.2.2003 notifying revised DEPB rates incorporating the element of SAD and such revised rates are made effective from 1.4.2002.
Attention is drawn to Notification No. G.S.R. 545(E) dated 1st August, 2002 whereby the figures in the balance sheet were permitted to be rounded off to the nearest hundreds, thousands, lakhs, millions, or crores, or decimals thereof.
In partial modification of General circular No. 5/2000 dated 30th June, 2000, it is hereby further clarified that since the Insurance Regulatory and Development Authority has notified the Insurance Regulatory and Development Authority.
In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in supercession of the notification of the Government of India in the Ministry of Finance & Company Affairs (Department of Revenue) No.25/2003-NT-Customs, dated the 26th March, 2003.
In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of Customs Act, 1962 (52 of 1962) and in supercession of the notification of the Government of India in the Ministry of Finance & Company Affairs (Department of Revenue) No.24/2003-NT-Customs, dated the 26th March, 2003.
I am directed to invite your attention to notification No. 17/2002-ST dated 21.11.2002 granting exemption to taxable Services provided by a Service Provider to Special Economic Zone (SEZ) Developer or to a unit located in SEZ for the development, operation and maintenance or setting up SEZ Units. For availing the exemption, the taxable services to be rendered by the Service Provider is proposed to be authorised by a committee headed by Chief Commissioner of Central Excise having jurisdiction over said Special Economic Zone
I am directed to invite your attention to the Board’s Circular No.128/95, dated 14th December, 1995 which has prescribed a set of guidelines on the undertaking to be given by the custodian before being appointed as custodian of ICDs/CFSs/EPZs.
The matter has been examined by the Board. It has been decided that the administrative control of ICDs/CFSs would be with the territorial Commissioners of Customs. However, where an ICD/CFS does not fall within the territorial jurisdiction of any Commissioner of Customs, the territorial Commissioner of Central Excise will have administrative control over it.
