Circular No. 316/32/97-CX In the aforesaid regard, reference is invited to the Board”s instructions under Circular No. 27/27/94-CX dated 2.3.94 issued from F.No. 390/P/253/95-JC In the circular No. 27/27/94-dated 2.3.94, it was pointed out that on receipt of reference of dispute by COD; the operation of the order of proceeding under challenge should be suspended till the COD resolves the dispute or gives clearance to the litigation. In other words, dues cannot be enforced while the reference is pending before COD.
The Ministry has announced the new All Industry Rates of Drawback effective from 1.6.1997 vide Notification No. 22/07-Cus(NT) dated 30.5.97
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts petroleum crude, falling under heading No 27.09 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much of the additional duty leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, as is equivalent to the duty of excise leviable on petroleum crude under sub-section (1) of section 15 of the Oil Industry (Development) Act, 1974.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sub-section (4) of the section 68 of the Finance (No. 2) Act, 1996 (33 of 1996) and in supersession to the Government of India, Ministry of Finance, Department of Revenue notification No. 182/92-Cus., dated the 6th May, 1992, the Central Government being satisfied that it is necessary in the public interest so to do, hereby exempts gold of fineness not less than 0.995 and falling under heading number 71.08 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act).
Circular No. 315/31/97-CX I am directed to refer to Member (CX) s D.O. letter of even number dated 22.1.1997 (Copy enclosed)1 wherein it was directed the Board”s Circular No. 237/71/96-CX dated 12.8.96 regarding classification of Ready Mix concrete be kept in abeyance. After re-examining the matter it has been decided to withdraw the aforesaid instruction contained in Member (CX) s D.O. letter dated 22.1.1997.
details of all unutilised monies out of iSSue of shares or debentures, if any, referred to in sub-item (i) shali be disclosed under an appropT.iate separate 1;ead..in the Balance Sheet of the company indicating the fori-t-.; in which such unutilised 1r/units. have been invested.
Notification No.S.O.378(E) – Income Tax In the notification of the Government of India, Ministry of Finance (Department of Revenue), No. S.O. 895(E), dated the 26th December, 1996, published at pages 1-2 of the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 26th December, 1996, at page 2, para (c), first line, for “17.5 %” read “17.75%
Kind attention is invited to Ministry’s letter F.No. 384/ 945/ 85-AU dated 24.7.87, copy of which is enclosed for reference, wherein the opinion of the them Attorney General, on the above mentioned subject, was circulated to All Commissioners of Customs and Central Excise, for appropriate action
In terms of Sl. No. 1 to Notification No. 148/94-Cus. dated 13/7/97, foodstuffs, medicines, medical stores of perishable nature, clothing and blankets imported by a charitable organisation, as free gift, are exempted from payment of Customs duty subject to condition mentioned therein. Clause (v) of the said condition requires the importer to furnish undertaking to the Asst. Commissioner
– For the purpose of this notification, the expression “maximum retail price” shall have the meaning as assigned to it in clause (r) of rule 2 of Standards of Weights and Measures (Packaged Commodities) Rules, 1977.
