Circular No. 407/40/98-CX I am directed to say that it has been brought to the notice of the Board that the rebates are not being sanctioned to the exporters who paid duty from the “deemed credit register” on the processed fabrics, especially where duty paid fabrics were used in the manufacture of made-up articles and rebate was claimed under the provisions of rule 12(1)(b) of the Central Excise Rules, 1944.
Attention is invited to Ministry’s Budget Notification No. 32/98-Customs (NT) dated the 2nd June, 1998 (Copy enclosed)1 amending Rule 12(1)(a) of the Customs & Central Excise Duties Drawback Rules, 1995, with view to delegating powers of relaxation of this rule to Commissioners of Customs. Rule 12(1)(a) inter alia requires an exporter to make a declaration on the Shipping Bill that a claim for
Circular No. 409/42/98-CX As you are aware, in pursuance of the Supreme Court”s decision for reducing litigation between one Govt. Department and another, a Committee on Disputes was created in the Cabinet Sectt. to examine the disputes and give clearance or otherwise to pursue the litigation. Accordingly, Board started receiving a number of proposals from different Commissionerates.
Petroleum products, namely,Indian Oil Corporation Limited a) Aviation Turbine fuel b) Motor Spirit c) High Speed Diesel d) Bitumen (asphalt) – paving grade; and e) Crude OilHowever, Private and Joint Sector refineries can import crude oil freely without an import licence for actual use in their own refineries.
Notification No. 10644/1998-Income Tax Shares to be issued by Energy Development Co. Ltd., Bangalore, a public company registered under the Indian Companies Act, 1956 and having its registered office at 21D, Ist Cross, Ist Floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees eight crores twenty lakhs only which are not transferable before
Notification No. 10645/1998-Income Tax Shares to be issued by Energy Development Co.Ltd.,Bangalore,a public company registered under the Indian Companies Act,1956 and having its registered office at 21D,Ist Cross, Ist Floor,Jayalakshmi Puram,Mysore,within one year from the date of publication of this notification, of an amount not exceeding rupees one crore sixty lakhs only which are not transferable before seven years
Notification No. S. O. 584(E)-Income Tax Shares to be issued by Energy Development Company Limited, Bangalore, a public company registered under the Indian Companies Act, 1956, and having its registered office at 21-D, 1st Cross, 1st floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees eight crores twenty lakhs only which are not transferable before three years after their allotment.
Notification No. S. O. 585(E)-Income Tax Shares to be issued by Messrs. Energy Development Company Ltd., Bangalore, a public company registered under the Indian Companies Act, 1956, and having its registered office at 21-D, 1st Cross, 1st Floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees one crore sixty lakhs only
DGFT amends export & import procedures, DEPB rates, compliance rules, and product descriptions to improve export sector clarity and efficiency.
The EPCG licence holder shall, in such cases, be making a request to the concerned licensing authority requesting for change in the export product mentioning the name and address of the manufacturer who shall be converting the intermediate product into final product. The licensing authority shall allow the aforesaid change after enhancing the export obligation by 50%.
