In terms of rule 4(ii)(c) of the Foreign Privileged Persons/ Regulation of Customs Privileges Rules, 1957, a foreign privileged person, on relinquishing his post or on his transfer out India may offer the vehicle imported by him for sale to State Trading Corporation, with the permission of Ministry of External Affairs. In terms of rule 5(iv)(i) ibid, where such vehicles have been purchased by the State
Circular No. 718-Income Tax ‘194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to any person any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of cheque or draft
Instances have been brought to the notice of the Board that some Customs Houses are not allowing drawback where the drawback exceed 2% of the FOB value but it less than Rs. 5000 per shipment. This practice appears to be based on the misconception that
Circular No. 719-Income Tax Under section 204(1) of the Income-tax Act, 1961, where salary is paid by a company, the person responsible for deducting tax at source under section 192 is the company itself, including the principal officer thereof. The principal officer is defined under section 2(35) of the Act
Circular No. 143/54/95-CX It has been represented to the Board that the existing description of the kit at serial number 185 of Heading A of the Schedule under the notification is slightly different from the description of the same kits which appeared at serial number 107 of Heading A of the Schedule under notification No. 208/81-Customs, which has resulted in restricting the scope of exemption to only those kits which are based on radioactive elements. The exemption on other immunoassay kits is reportedly not a available.
Circular No. 717-Income Tax 6. The rates for deduction of income-tax at source from “Salaries” during the financial year 1995-96 and also for computation of “advance tax” payable during that year in the case of all categories of taxpayers, have been specified in Part III of the First Schedule to the Act. These rates are also applicable for charging income-tax during the financial year 1995-96 on current incomes
I am directed to invite your attention to Customs Notfn. No. 73/94 dated 1.3.1994 as amended vide Notfn. No. 113/95-Cus. dated 7.6.1995 and to say that by amending notification air conditioned cars have been deleted from the parent notification No. 73/94-Cus. dated 1.3.1994. As a consequence, A.C. cars imported by State Tourism Corporation, Tour Operators etc., under this scheme does not
It has been brought to the notice of the Board that that contents of circular No. 29/95 dated 20.3.95 issued F.No. 473/ 6/ 95-LC by which relaxation in furnishing Bank Guarantee by the 100% EOU / EPZ units for transfer of imported goods for re-werehousing from
Circular No. 142/53/95-CX I am directed to enclose herewith a copy of judgement dated 20.3.95* passed by Hon”ble Supreme Court in CA No. 1315-18 of 1990 filed by CCE, Shillong Vs. M/s. Wood Craft Products Ltd., regarding classification of “Block Board” under the Central Excise Tariff Act, 1985.
Circular No. 141/52/95-CX The production of photo-identity cards involves videography of the person, computerised capture of the videographed image, merging of the image with the data of the person already entered in the computer and the computerised printing out of the merged data and the image through a laser printer. This print out is verified, validated and pasted with the Holograms of the State emblem and then cut, folded and laminated before issue to the person.
