Circular No. 235/69/96-CX Attention in invited to the above cited decision of Madras High Court reported in (1992) 40 EEC 31 (Madras). Hon ble High Court has observed that no manufacturer will be charitable enough to exclude customs duty paid on the raw material, from the price of finished products”. Hon blle Court has further held that what is contemplated in Section 27(2) (a).
Circular No. 746-Income Tax Section 80Q inserted by the Finance (No. 2) Act, 1991, with effect from 1-4-1992 provides that where in the case of an assessee the gross total income of the previous year relevant to the assessment year commencing on the 1st day of April, 1992 or to any one of the four assessment years next following that assessment year
Circular No. 234/68/96-CX Attention in invited to proviso to sub-rule 1 of Rule 12 of Central Excise Rules,1944 whereby the Commissioner of Central Excise can relax all or any of the conditions of any notification issued under this rule if he is satisfied that the goods have actually been exported and records the reasons in writing. A doubt has arisen whether the condition of time-limit which is prescribed in the notifications giving reference to Section 11B of Central Excise & Salt Act, 1944
Circular No. 233/67/96-CX Representations have been received from the Trade regarding denial of MODVAT Credit on invoices generated through Computer by registered dealers where the said persons have failed to submit the details of the software used including the format for information of the Assistant Commissioner of Central Excise in terms of the provisions of Rule 57GG (6) of the Central Excise Rules.
Circular No. 232/66/96-CX Consolidated maintenance of RG 23 A part -II is permitted where the inputs are used in the manufacture of exempted and dutiable final products vide Board”s Circular No. 33/33/94-CX dated 04.05.1994. However, in such cases a statement has to be submitted by the assessee in the prescribed proforma showing particulars of reversal of Modvat credit availed on inputs going into the manufacture of exempted final products.
(i) an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956) to be a university for the purposes of that Act; (ii) an institution declared by Parliament by law to be an institution of national importance; (iii) a college maintained by, or affiliated to, a University;
(i) the total cost of the project; (ii) the cost of the project shared by such Ministry or Department, as the case may be; (iii) the value of the goods already imported under this notification; (iv) that the goods are imported for the purposes of the said project
The goods specified in the Table to the Notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 against S. No. 83 [in column (3) at item Nos. (A) and (C)], 140,160,161 (only blank travellers cheques), 64,245,247,363,367,369 & 370.
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 goods falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), on which a manufacturing process was undertaken in India and which were exported out of India for carrying out further manufacturing processes of coating, electroplating or polishing or a combination of one or more of these processes, as the case may be.
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excises and Salt Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) (hereinafter referred to as the said Special Importance Act),
