The Center will provide for dummy terminals to display the prices of the scrips listed on the Exchange on realtime basis, to enable investors watch the price movements of the stocks.
Various representations have been received from Trade/ Exporters that wherever final goods exported by them are not liable to Central Excise duty, in such cases, the exporters are unable to avail of Modvat Credit of additional customs duty (CVD) paid in cash on imported inputs, or excise duty paid on indigenous inputs, utilised in the production of export goods ; and thus the duties suffered by
I am directed to refer/ notification 84/97-Cus. dated 11.11.97 which exempts goods imported into India by the United Nations or, an International Organisation for execution of the projects financed by them from the duty of customs and additional duty and special Customs duty
Circular No. 359/75/97-CX I am directed to say that doubts have been raised regarding the correct classification and duty liability of used release paper (paper coated with polymers). It is stated that assessee manufacturing coated fabrics/ PVC leather cloth/ rexine use release paper in their manufacturing process and after repeated usage it loses the releasing effect and becomes no more useful.
It is clarified that under the Rubber Act, 1947, Cess is leviable only on natural rubber. Since the Customs Tariff Act, 1975 provides levy of additional duty of customs equal to excise duty leviable on like goods produced or manufactured in India, the levy of cess as additional duty on imported synthetic rubber is illegal and therefore not warranted. You are requested to issue suitable instruction to
These amendments have been made in the light of the deliberations at the Commissioner’s Conference, recommendations made by the committee on Subordinate Legislation, -Supreme Court’s Judgement dated 15.7.96 in the case of M/s Jagat Bandhu Mukherjee v. UOI, representations made by the Federation of Freight Forwarders Association and current requirements.
t has been observed recently that cases of forged/fake/stolen shares which are introduced in the market are on the increase and most of them might have been introduced through the sub-brokers. You are therefore, advised, that while forwarding applications for registration of sub-brokers
A doubt had arisen as to whether rough diamonds purchased from the open market can be exported without any restriction. The issue was examined in consultation with Ministry of Commerce and it was clarified by the Board that there should be no bar for export of rough diamonds even if procured from domestic market provided the payment is received is freely convertible currency
However, it has been observed that in some cases, persons with a past police record who were admitted as a member of the stock exchange had subsequently indulged in fraud and cheating the public
Circular No. 358/97-CX A reference has been received from Director, Ministry of Commerce regarding the denial of excise duty exemption benefit to personal computers when brought inside the unit located in the EPZ/ FTZ for maintaining accounts under Notification 126/94-CE dated 2.9.94.
