Government has now decided to allow mutual funds to invest in equity of listed overseas companies. Subsequently, RBI has also written to SEBI in this regard.
We hereby certify that all the above statements are true to the best of my knowledge. I understand that if any part of this declaration is found to be false at any time, the facility of Accelerated Clearance of Import and Export Scheme (ACS) will be liable to be cancelled/withdrawn.
In exercise of the powers conferred by sub-rule (1) of rule 20 of the Central Excise Rules, 2002, the Central Government hereby makes the following amendment in the notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), number 46/2001-Central Excise (N.T.), dated the 26th June
Public Notice No. 5/2002-2007 updates the Indian Rupee value for deferred payment contracts under agreements with the USSR for machinery and equipment deliveries.
Export and Import Policy” means Export and Import Policy, 1 April 2002 – 31 March 2007, published by the Government of India in the Ministry of Commerce and Industry vide notification No. 1 (RE-2003) /2002-07, dated 31st March, 2003, as amended from time to time; (ii)”Handbook of Procedures, Volume I ” means Handbook of Procedures Volume I, 2002-2007 published by the Government of India, Ministry of Commerce and Industry vide Public Notice No. 1(RE-2003)/2002-07, dated 31st March, 2003, as amended from time to time.
The principal notification No. 32/99-Central Excise, dated the 8th July, 1999 was published in the Gazette of India, Extraordinary vide G.S.R. 508(E), dated the 8th July, 1999 and was last amended by notification No. 2/2003-Central Excise, dated the 3rd January, 2003 [G.S.R. 9 (E), dated the 3rd January, 2003.
These guidelines are issued in accordance with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.
In view of above, it was suggested that in case of failure to achieve NFE (EP being deleted in the new Policy), the demand of duty alongwith interest should be in direct proportion to the default as already provided in case of SEZ Scheme. Since the concept is already in existence in case of SEZ Scheme, it has been decided to incorporate the same in EOU/STP/EHTP Scheme also. To implement this, a suitable provision has been incorporated in the notifications Nos. 22/2003-CE and 52/2003-Cus, both dated 31-3-2003, governing duty free procurement and import by EOUs and STP/EHTP.
Amendment to Companies (Acceptance of Deposits) Rules 1975 permits loans from NDDB to companies owned by it, clarifying deposit treatment for regulatory compliance.
I am directed to invite your attention to the Customs Tariff ( Amendment), Act, 2003 vide which the revised 8 digit Customs Classification Codes based on Harmonised Classification has been adopted by the Customs with effect from 1st February, 2003. The new 8 digit codes have also been adopted by Directorate General of Foreign Trade (DGFT) and Directorate General of Commercial Intelligence and Statistics (DGCI&S).
