The exporters of newspapers and periodicals are facing problems and are not able to get SIL even after satisfying the eligibility criteria of Paragraph 11.11 of Handbook of Procedures (Vol.1), because such exporters are granted permission by Reserve Bank of India to export their publications without completing G.R. formalities and / or by post parcel without completing PP form formalities.
Notification No. S. O. 1785-Income Tax In exercise of the powers conferred by clause 23 of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Petroleum Sports Control Board, New Delhi, for the purpose of the said clause for the assessment years 1996-97, 1997-98 and 1998-99 subject to the following conditions,
This issue was considered in detail in consultation with Deptt. of Revenue. It was felt that, when the duty paid material is provided by DTA Unit to EOU in terms of Ministry of Finance instructions as stated above, then this duty paid should be refunded back. Accordingly, in respect of such direct exports from EOU based on the duty paid material supplied by the DTA units for job work, duty paid on the inputs would be refunded back by way of Brand Rate of Duty Drawback.
Circular No. 420/53/98-CX The Board has been concerned about the delay in filing of CAs against the adverse CEGAT Orders and with the fact that the Supreme Court has not been condoning such delays and has been dismissing the Revenue appeals without going into the merits of the case. The Board has been emphasising the need for expeditious submission of C.A. proposals and recently it has issued instructions vide Cir. No. 402/35/98-CX (F.No. 390/107/97-JC) dated 9th June, 1998 emphasising against the need for submission of CA proposals, complete in all respects,
The Hon’ble Commerce Minister in the Lok Sabha on the 5th August, 1998, had announced certain measures for boosting India’s exports. One of the measures announced by the Hon’ble Minister was that the said units may be allowed to export their goods through courier. Keeping in view the above commitment of the Lok Sabha, it has been decided that the said units may be allowed to export
The follwing entry shall be added as S. No.38 in the Schedule 2 Appendix I of the Book titled ” ITC(HS) Classification of Export and Import Items 1997-2002.
Circular No. 419/52/98-CX I am directed to say that the Government is concerned about the present practices and their efficiency in properly administering the Modvat Scheme. It is noticed, inter alia, that the payment of duty from the Modvat Credit account as a percentage of total revenue has increased substantially and consistently during the last decade or so. Consequently, the marginal rate of increase in revenue is not high as it should be. It is felt that some of the manufacturers have taken credit for which they were/ are not entitled, thus causing unwarranted distortion in revenue collection.
Circular No. 418/51/98-CX I am directed to say that notification Nos. 31/98-CE(N.T.), 32/98-CE (N.T.), 33/98-CE(N.T.) and 34/98-CE (N.T.), all dated 24.8.1998, have been issued under rule 12 of the Central Excise Rules, 1944, providing for grant of rebate of duty of excise on non-alloy steel ingots and billets and non-alloy steel hot re-rolled products, exported out of India or used as materials in the export goods, where duty is paid under Section 3A of the Central Excise Act, 1944.
Circular No. 417/50/98-CX I am directed to draw your attention to the Central Excise 11th Amendment Rules, 1998, vide notification No. 30/98-CE(N.T.) dated 24.8.1998, whereby sub-rule (3) of rule 12 of the Central Excise Rules, 1944 has been substituted.
In exercise of the powers conferred under Paragraph 4.11 Of the Export & Import Policy 1997-2002, the Director General of Foreign Trade hereby makes the following amendments in Schedule 2 Appendix I of the Book Titled ” ITC (HS) Classification of Export & Import Items 1997-2002.
