Delivery and payment for all “hand delivery” trades (including Trade for Trade, Negotiated Trades, Cross Deals, Bulk Deals, etc.) must be completed within the time or on the date stipulated when entering into the deal which time shall not be more than 7 days following the date of the contract.
The gold/silver/platinum shall be released to the exporter of jewellery by the nominated agencies/RBI authorised banks in multiples of 10 gms. or in Ten Tola Bars in respect of gold. However, silver shall be released to the exporters in multiples of 1 kg only. Any balance of gold/silver/platinum shall be available to the exporters along with his future entitlement. The gold/silver shall be released by the nominated agencies in terms of 0.995/0.999 fineness and platinum in terms of 0.9999 fineness.
Circular No. 436/02/99-CX I am directed to say that in the context of Self Assessment and Selective Audit Systems which are currently being followed in the Central Excise . It is imperative to have substantially increased participation of the senior officers in the work of audit. Test audit is also being undertaken on the basis of the New Draft Audit Manual and Draft Audit Programme. In this regard, attention is drawn to Parts (4) (iii) of Part-I of the Central Excise Audit Manual
Circular No. 435/1/99-CX As directed by the Delhi High Court, the Board has reconsidered the Circular No. 335/71/97-CX. dated 18.11.97 in the light of the CEGAT judgement dated 13.2.98 in the case of Mahindra & Mahindra Ltd. v. CCE, Bombay [1998(103) ELT 606 (T)].
The application should be forwarded to SEBI with the registration certificate of the transferor member/ corporate and this registration would be cancelled..
Notification No. 522 – Income Tax It is notified for general information that “Vysya Bank Housing Finance Ltd., Bangalore”, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002
Supplies made by foreign buyers or procured by the exporters on the advice of foreign buyers, of labels, price tags, hangers PVC boxes, Inlay cards, printed bags, stickers and trimming materials like buttons, belts, shoulder pads, buckles, Eyelets, Hooks and Eyes and Rivets to be attached to the goods against specific orders placed by foreign buyers on Indian exporters, may be imported without a licence.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column (2) of the Table below when imported into India from Pakistan or Bangladesh from whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and whole of the additional duty.
Notification S.O. 418 corrects the earlier Notification No. 10775 under section 10(23G) of the Income Tax Act, 1961 issued on 2nd January 1999.
Attention is invited to the Public Notice No. 26/97-2002, dated 14th July, 1997, wherein the conditions and procedures to be followed in respect of export of Sandalwood in the form of heartwood chips, mixed chips, flakes of the Sandalwood Classes mentioned in Annexure I to the said Public Notice, Sapwood chips/powder and Sandalwood dust obtained as waste after the manufacturing process have been specified.
