Circular No. 394/27/98-CX I am directed to draw your attention to Board”s Circular No. 249/83/96-CX dated 11.10.96, regarding introduction of self-assessment system. Under this system, the assessee is himself required to assess the duty liability and prepare a return on a monthly-basis (for SSI on quarterly basis) and submit to scrutinise the returns in the manner prescribed in the aforesaid Circular. The assessees are also required to file declaration under rule 173B for the purpose of classification of the goods and a declaration under rule 173C for the value of goods in certain specified type of cases.
Circular No. 393/26/98-CX I am directed to say that the Government is concerned over lack of systematic and real responsiveness in the Indirect Tax Administration. It is felt that there is immediate need for having a professional and efficient approach towards providing responsive Tax Administration. In this connection, it is necessary that all intimations, declarations and queries received from the Members of trade
Certain representations have been received seeking clarification whether for calculation of NFE the imports effected by 100% EOUs/Units in the EPZ are to be deducted or not. In this context, it is clarified that Paragraph 9.5 of Handbook of Procedures(Vol.1) clearly stipulates that Letter of Permission/Letter of Intent issued to EOU/EPZ/EHTP/STP units by the concerned authority would be construed as a licence for all purposes.
The export proceeds realised in any currency shall be converted, except in cases where the entire imports and the entire exports are made in one foreign currency, into US Dollars at the exchange rate prevailing on the date of issuance of EPCG licence which has been endorsed on the reverse of the licence with a view to ascertain whether export obligation has been fulfilled or not.
Notification No. S.O. 467(E)-Income Tax equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 913 crores by the Reliance Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad–380 006
Notification No. S.O. 468(E)-Income Tax equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding Rs. 1,524.3 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad–380 006
Notification No. S.O. 469(E)-Income Tax Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, of an amount not exceeding Rs. 45 crores which are not transferable before
Notification No. S.O. 470(E)-Income Tax Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, of an amount not exceeding Rs. 45 crores
Please refer to this office letter of even no. dated 20.4.98 prescribing procedure for import of gold/ silver and platinum jewellery Export Promotion Scheme
For taking supplies from such Private Bonded Warehouses no further endorsement of any kind on such specific licence or Advance Licence from the Licensing Authorities would be required. Accordingly, these licences which are valid for imports would be valid for taking supply from Private Bonded Warehouses also.
