I am directed to invited your attention to Board’s instructions of even No. dated 13-5-92 regarding powers of adjudication of Officers of Customs
Inspite of all the precautions taken, recently a blast occurred at CFS, Ludhiana ia a consignment of steel scrap resulting in death of the labourers and injury to 3/4 persons. This particular consignment was imported from Kuwait in six containers and the blast took place when the goods were being loaded on truck. This consignment was originated from a place affected by rebelion or war. The blast
Notification No.S.O.695(E) – Income Tax In exercise of the powers conferred by sub-clause (iii) of clause (17) of section 10 of the Income-tax Act, 1961 (43 of 1961), and in supersession of notification number S. O. 3363, dated 7th December, 1996, of the Government of India in the Ministry of Finance, the Central Government hereby notifies the Constituency Allowance received by the Members of Madhya Pradesh State
Circular No. 340/56/97-CX Notification No. 8/96-CE dated 23.7.96 was issued exempting all goods falling under heading No. 52.02 produced or manufactured in a free trade zone and brought to any other place in India or by a 100% export-oriented undertaking and allowed to be sold in India, form so much of the duty of excise leviable thereon which is specified in the Schedule to the Central Excise Tariff Act, 1985, as is in excess of nil duty.
Circular No. 339/55/97-CX In a case where importer had not only misrepresented that facts before the Commissioner but had also filed manipulated and fabricated documents, the Law Ministry was consulted on the point as to whether fresh Show Cause Notice can be issued by the Department under the proviso for extended period of 5 years.
Circular No. 338/54/97-CX I am directed to say that some of the importers imported “Acrylamide” and claimed duty free clearance under Notification No. 203/92-Cus as “Synthetic Adhesive” for use in the manufacture of leather goods i.e., shoe upper, leather articles, bags etc. In one of the cases, that Asstt. Commrs. of Customs as rejected the claims of the importers for duty free clearance of “Acrylamide” but subsequently the importers have managed to get favourable order at the lavel of Commr.
Circular No. 337/53/97-CX An instance has come to notice of the Board where a jurisdictional Commissioner had filled an appeal in CEGAT against the Commissioner (A)”s order remanding the case to Assistant Commissioner to determine whether various goods were eligible for modvat credit as per definition of the capital goods. As the Commissioner (Appeal)”s order was of the nature of simple remand there was no need of filing appeal against this order
It has come to the notice of the Board that doubts are being expressed in the matter of classification of components of Colour Television Sets in the context of provisions contained in Rule 2 (a) of the General Rule for the interpretation of the First Schedule to the Customs Tariff Act, 1975
SEBI has received queries from Stock Exchanges regarding course of action to be taken against the stock-brokers, who are having multiple memberships, and have been declared defaulter at one of the Stock Exchanges. It has also been brought to our notice that if a stock broker is declared defaulter by a stock exchange, the information with regard to his default, is not being passed on to other Stock Exchanges.
Clarifications have been sought on the scope of the SEBI directions issued on December 23, 1996 as to whether it would cover corporates or only infrastructure companies and municipal corporations, and further whether the directions also cover debt instruments convertible into equity.
