Amendments to the Export-Import Policy 2000-2001 regarding chemicals, engineering products, and textiles, including changes in input-output norms.
Please refer to our circular letter dated February 12, 1999 advising you to provide us data pertaining to funds mobilised, repurchases/redemptions, net inflow/outflow and cumulative position of net assets. We have revised the format so that some meaningful inferences about the trends in mutual funds industry may be drawn.
The revised methodology to calculate the DEPB rate, as indicated above, shall be adopted only for exports made on or after the issuance of this Circular. Exports of such formulations, consisting of more than one Bulk Drug where some of the constituents are specified while others are non-specified, effected prior to the issuance of this circular shall be governed by the Policy Circular No.39 dated 22.10.99.
In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services in relation to Cattle Insurance provided under the Central Sector Scheme on Cattle Insurance, from whole of the service tax leviable thereon under section 66 of the said Act.
An issue has been raised regarding the admissibility of DEPB benefit for the export of MS Galvanized Sheets/Strips made prior to 01.04.2000 keeping in view the existence of two possible DEPB entries at S.N. 91 and 363 covering such exports. It has been decided that the DEPB benefit for such exports shall be granted as per the entry at S.N. 363 in view of the fact that the DEPB entry at S.N. at 91 covers only those inputs which are both galvanized and coated.
Notification No. 731(E)-Income Tax In exercise of the powers conferred by clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specify the following income-tax authorities for the purpose of the said clause
It has come to the notice of the board that the principles of natural justice are not being followed during adjudication of the cases, which result in frequent remand of cases on the ground of non-observance of the principles
Mark to Market Margin shall be collected separately from daily/exposure margin as the purpose of these margins is different.
Once this margin is imposed by any Exchange having ALBM or MCFS facility, the other Exchanges having ALBM or MCFS will also follow the same from the start of next settlement.
The positions referred to would exclude the positions pertaining to the pure securities borrowers to the extent that the collateral securities are kept with the clearing house/corporation.
