custom_cir_2002m

PWC may go Arthur Anderson way in India after Satyam's investors all set to sue PWC-employees of PWC float their CVs AED or SAED levied on motor spirit and high speed diesel under the respective sections of the Finance Acts and NCCD on goods leviable to it, are not required to be paid for goods exported under bond from a manufacturing unit located in a Special Economic Zone. Similarly, a manufacturer located in a SEZ would be entitled to avail of the facility of export under claim for rebate in terms of rule 18 of the Central Excise Rules in respect of these duties-Central Excise Circular No.881 Under the various incentive schemes under Foreign Trade Policy, the computation of entitlement is to be done on the FOB value of exports inclusive of commissions and discounts, if any-DGFT Policy Circular No.51 Requirement of NOC before clearance of Ozone Depleting Substance (ODS) against Advance Authorizations-DGFT Policy Circular No.52 Bad News for PWC which audited Satyam Computers-Raju admits accounting fraud in company-Raju says it was like riding a tiger not knowing how to get off without being eaten Raju may be arrested and prosecuted Anti-dumping duty imposed on imports of Float Glass of thickness 2 mm to 12 mm (both inclusive) of clear as well as tinted variety (other than green glass) but not including processed glass meant for decorative, industrial or automotive purposes , originating in, or exported from, the Peoples' Republic of China and Indonesia-Customs Tariff Notification No.4 Anti-dumping duty imposed on import of Mulberry raw silk (not thrown), 2A grade and below, originating in, or exported from China-Customs Tariff Notification No.5 Full Bench of HC Ruling-High Court is empowered to condone the delay in filing the Appeals under Section 35G of the Central Excise Act, 1944 which are filed beyond the prescribed period of 180 days-Section 5 of Limitation Act will be applicable to Appeals filed under Section 35G of the Central Excise Act, 1944-AIT-2009-05-HC Co-relation of inputs with the export product under DFIA Scheme-DGFT Policy Circular No.50 Export of Stone Aggregate and River Sand to Maldives for the year 2009-2010-DGFT Notification No.75 Income-tax (First Amendment) Rules, 2009-Rule 40E- Prescribed conditions for the purposes of sub-clause (iii) of clause (B) of sub-section (2) of section 115WB-Income Tax Notification No.1 Income-tax (2nd Amendment) Rules, 2009 –Rule 5D & 5E amended-Income Tax Notification No.2 Government specifies the National Housing Bank (Tax Saving) Term Deposit Scheme, 2008 for the purposes of clause clause (xv) of sub-section (2) of section 80C of the Income-tax Act, 1961-Income Tax Notification No.3 Truckers demand duty free import of radial tyres and lowering of service tax As per provision of Section 47(iv) of Income Tax Act whether the transfer of capital asset by a company to its wholly subsidiary company could be regarded as transfer and therefore capital gains tax could be levied on such transfer-AIT-2008-04-HC Government grants full service tax exemption on taxable services provided to a Goods Transport Agency by their sub-contractors-Service Tax Notification No.1 DEPB Notification No.89/2005-Customs amended to provide benefits on clearances to SEZ- Customs Tariff Notification No. 3 Amendments made in DEPB Rates vide Public Notice No. 102 dated 05.11.2008 in respect of products where DEPB rates were reduced, stand withdrawn w.e.f. 5.11.2008 itself, thereby restoring the DEPB Rates notified prior to 5.11.2008, for the said items-DGFT PN 124 Government releases Rs. 600 crore to regional authorities of DGFT for payment of pending claims of Terminal Excise Duty and Duty Drawback under deemed export scheme-Government also releases Rs. 200 crore to the Development Commissioners of SEZs for payment towards pending claims of CST in respect of supplies made to 100% EOUs Anti-dumping duty on import of acrylonitrile butadiene rubber (NBR) originating in, or exported from, Korea RP -Customs Tariff Notification No.1 Changes in Customs duty on specified goods-Customs Tariff Notification No.2 New Drawback Rates for Boots/half boots/shoes/sandals of leather-cum synthetic/textile materials-Customs Non-Tariff Notification No.1 Drawback Rates on several products hiked-Customs Non-Tariff Notification No.2 Government announces Second Economic Stimulus Package to boost recession hit Sectors-Exemptions from CVD on TMT bars and structurals, and from CVD and Special CVD on cement, withdrawn-Full exemption from basic customs duty on zinc and ferro alloys, withdrawn-Duty drawback benefits on certain items including knitted fabrics, bicycles, agricultural hand tools and specified categories of yarn enhanced retrospectively from 1st September 2008-Accelerated depreciation of 50% provided for commercial vehicles to be purchased on or after 1.1.2009 upto 31.03.09-Click on the link below for details CENVAT Credit of service tax paid on all input services up to the Port allowed to Exporters-Click on the link below for details As demanded by AIT; FinMin finally amends CENVAT Credit Rules to allow benefit of non-reversal of Credit on clearances to SEZ Developers-Central Excise Non-Tariff Notification No.50-Click on the lik below for details Anti-dumping duty on import of Flexible Slabstock Polyol, originating in, or exported from, the People's Republic of China, Republic of Korea, Chinese Taipei and Brazil continued till 23rd July, 2009-Customs Tariff Notification No.138 Tariff Value for import of Brass Scrap is 3252 and for Poppy Seeds 4238-Customs Non-Tariff Notification No. 141 Import of new vehicles having an FOB value of US $ 40,000 or more and engine capacity of more than 3000cc for petrol run vehicle and more than 2500cc for diesel run vehicles exempted from policy provision of Import Licensing Note No. 2-DGFT Notification No.74 CBEC clarifies the classification of 'Combined refrigerator freezer with separate external doors' would be under sub- heading 8418 10 and not under 8418 21-Customs Circular No.23 Procedure relating to sanction and pre-audit of refund claims-Customs Circular No.22 Anti-dumping duty imposed on imports of Sodium Hydroxide(Caustic Soda)originating in, or exported from, Korea ROK and the People's Republic of China-Customs Tariff Notification No.137 Abatement from MRP for payment of excise duty lowered by 3 per cent on most of the products-Abatement on Auto Parts lowered to 30 per cent-Central Excise Non-Tariff Notification No. 49 excise duty of 300 PMT notified on cement clinkers-Central Excise Tariff Notification No.64 10% ethanol blended petrol exempted from excise duty Duty free import of capital goods and spare parts under EPCG-Customs Tariff Notification No.136 Anti-dumping duty on import of phenol-Customs Tariff Notification No.135 Authority for Advance Ruling rules looking at the nature of activities carried on or to be carried on by the liaison office of Ikea Trading (Hong Kong) Ltd. in India, no income would accrue or arise or deemed to accrue or arise in India in terms of section 5(2)(b) of Income Tax Act, 1961-AIT-2008-482-AAR Authority for Advance Ruling rules the swapping premium is profit derived from the business of providing long-term finance (computed under the head 'Profits & Gains of Business or Profession' before making any deduction under this clause) in terms of section 36(1)(viii) of the Income Tax Act, 1961-specified percentage thereof is eligible for deduction u/s 36(1)(viii) of the Income Tax Act in view of the fulfillment of condition for carrying this sum to the special reserve-AIT-2008-483-AAR Definition of 'Charitable purpose' under section 2(15) of the Income-tax Act-Income Tax Circular No.11 Import of Trucks/Tippers/Dumpers and spares thereof, under EPCG Scheme by any other sector except for the mining sector is not permitted-DGFT Circular No. 48 transitional arrangements in respect of items whose import has been restricted, shall continue-DGFT Circular No.49 SION norms for export of Shea Stearine notified-DGFT PN 118 The appellant an international firm of solicitors resident in UK, has no office or fixed base in India-the income of the assessee is charged on hourly basis in India and utilised in India shall only be chargeable to Income-Tax Act as disclosed in the return of Income-AIT-2008-480-HC CBDT clarifies that any return of income for the assessment year 2008-09 filed electronically on 30th September 2008, in respect of which the electronic acknowledgement bears the date stamp of 1st October 2008, shall be treated as having been filed within the due date, i.e. 30th September 2008 Export of cement freely allowed from all Ports-DGFT Notification No. 73 Bombay HC rules it is only after enactment of Section 66-A w.e.f. 18.4.2006 that taxable services received from abroad by a person belonging to India are taxed in the hands of the Indian residents- In such cases, the Indian recipient of the taxable services is deemed to be a service provider-Before enactment of Section 66-A, there was no such provision in the Act and therefore, Union of India had no authority to levy service tax-Click on the link below for details Import of all pre-packaged commodities subjected to compliance of all the provisions of the Standards of Weights and Measures (Packaged Commodities) Rules, 1977-Customs Circular No.21 Larger Bench of CESTAT rules in the case of provisional assessment under the Central Excise Rules, 2002 interest is required to be paid from the first day of the month succeeding the month for which such amount is determined-Interest is required to be paid even if the differential amount is paid before the order, under the Rule 7(3) of the said Rules, is issued finalizing the assessment-AIT-2008-473-CESTAT

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CUSTOM CIRCULARS 2002

Circular No.
Subject
01/2002
Application of PFA Act, 1954 for clearance of consignments of food articles
02/2002
Issue of Export Certificate to frequently travelling international passengers
03/2002
Classification of `hot pepper seeds (chilli seeds) in the Customs Tariff and its eligibility for benefit of notification No.17/2001-Cus.,(Sl.Nos.7 and 24 of the Table).
04/2002
Time limit for market verification of the Present Market Value (PMV) under DEPB Scheme.
05/2002
Customs Overtime
06/2002
Examination norms for export goods at port of export
07/2002
Transfer of Goods Imported/Procured by EOUs/EPZ/STP/EHTP to SEZ Units
08/2002
Admissibility of All Industry Rates of Drawback under SS No.64.13(Leather Sandals)-
09/2002
Import of Pets by Passengers
10/2002
Classification of Uninterrupted Power Supply System (UPSS) under the Customs and Central Excise Tariff.
11/2002
All Industry Rate of Drawback in respect of Ready-made Garments
12/2002
References received from the Field Formations without the approval of Commissioner of Customs concerned
13/2002
Appointment of custodians of EPZs/ICDs/CFSs
14/2002
Mis-declaration of constitution of textile fabrics and classification thereof - evasion of duty.
15/2002
Carriage of coastal cargo from one Indian port to another port in foreign going vessels
16/2002
General permission for release of imported currency through post
17/2002
Extension of the jurisdiction of the Customs Act, 1962 and the Customs Tariff Act, 1975 to whole of the EEZ and Continental Shelf under the Territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976
18/2002
Customs procedure for export of container cargo from ICDs/CFSs in India to Bangladesh and Nepal through LCSs
19/2002
All Industry Rates of Drawback, 2001-2002
20/2002
Grant of All Industry Rate of Drawback on export of Bicycles under Advance License Scheme
21/2002
Import of jute bags & jute products.
22/2002
Extension of the jurisdiction of the Customs Act, 1962 and the Customs Tariff Act, 1975 to whole of the EEZ and Continental Shelf under the Territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976
23/2002
General Permission for release of imported Currency through Post
24/2002
hanges made in Advance License, DFRC, DEPB and EPCG Schemes vide Exim Policy 2002-07
25/2002
Levy of anti-dumping duty on Mild Steel Plates imported form Russia, Kazakhstan and Ukraine under notification No. 100/98-Cus.
26/2002

27/2002

28/2002
Effective date of payment of Government dues by cheque
29/2002

30/2002
General Permission for release of imported currency through Post
31/2002
Examination norms for export goods
32/2002
Import of activated bleaching earth / activated clay as `processed bentonite' ; classification thereof
33/2002
Leviability of customs duty on fuel and other stores consumed on board during extension flights in domestic sector
34/2002
Standard set of guidelines for appointment of custodian of Sea Ports and Air Cargo Complexes.
35/2002
Levy of Special Additional Duty (SAD) on goods chargeable to duty under Additional Duties of Excise (Goods of Special Importance) Act, 1957
36/2002
Export Against Supply by Foreign Buyer- Clarification Regarding the Amount of Bank Guarantee to be Furnished under the Scheme
37/2002
New EXIM Policy 2002-2007 and Handbook of Procedures, 2002- 2007. Amendments in the Provisions Relating to Gem & Jewellery Export Promotion Schemes
38/2002
New Exim Policy 2002-07 and Handbook of Procedures, 2002-2007 - Amendments in the Notifications relating to EOU/EPZ/ETHP/STP/SEZ schemes
39/2002
40/2002
Marble Imports- Finalisation of Provisional Assessments
41/2002
Eligibility of Cash Dispensers under notification No.21/2002-Cus., Sl.No.272.
42/2002
Inspection Schedule for the Systems and Services in Customs and Anti- smuggling Formations
43/2002
Problems faced by Merchant Exporters regarding availment of drawback on garments
44/2002
Duty Drawback on ‘Natural dyed made-ups with latex backing
45/2002
Marble Imports- Finalisation of Provisional Assessments
46/2002
Transhipment of containers to ICDs/CFSs
47/2002
Warehousing – Grant of extension of warehousing period by the Chief Commissioners under section 61 of the Customs Act, 1962
48/2002
Interest on Delayed Payment of Duty
49/2002
Clarification regarding import of Gems, Precious Stones, Semi-precious Stones etc. against Rep Licences and Gem Rep Licences issued under para 8.2 and 8.38 of Exim Policy 1997-2002 respectively under notification No. 60/2002-Cus, dated 7.6.2002-
50/2002
Export Against Supply by Foreign Buyer- Clarification Regarding the Amount of Bank Guarantee to be Furnished under the Scheme
51/2002
Classification of software
52/2002
Guidelines for duty free import/procurement of materials for development, operation and maintenance of Special Economic Zones
53/2002

54/2002

55/2002
Possession of valid documents for Indians entering Nepal and prohibition on carrying Indian currency notes of Rs. 500/- denomination in Nepal
56/2002
Market verification for ascertaining the present market value under DEPB Scheme and admissibility of DEPB credit
57/2002
Full exemption from customs duty to goods imported for the Computerized Inventory Control Project of the Ministry of Defence
58/2002

59/2002

60/2002
General permission for Authorised Dealers to import currency notes from their overseas branches
61/2002
Levy of penalty under section 114A of Customs Act, 1962
62/2002

63/2002
Market verification for ascertaining the present market value under DEPB Scheme and admissibility of DEPB credit
64/2002

65/2002
Permission to send out goods for job work by EOUs/EPZ/STP/EHTP/SEZ Units
66/2002
Simplification of Certain Procedures Relating to Functioning of EOUs/ EPZ /STP /ETHP/SEZ Units–Issue of Procurement Certificate and CT-3-
67/2002
Delegation of financial powers to the Heads of Department under C.B.E.C. in the matter of purchase of computers, awarding annual maintenance contracts, site preparation, training in computers etc.
68/2002
Applicability of interest on warehoused goods under Section 61 of the Customs Act, 1962
69/2002
Eligibility of reusable plastic containers for duty free import under notification No.104/94-Cus.
70/2002
Eligibility of materials for laying synthetic athletic track and wooden flooring system for indoor stadia under notification No.146/94-Cus.
71/2002
Supply/Transfer of Capital Goods/Manufactured Goods from one EOU/EPZ/EHTP/STP/SEZ unit to another EOU/EPZ /SEZ/EHTP/STP
72/2002

73/2002

74/2002
Deduction of Air Freight element from f.o.b. value
75/2002
Implementation of the Circulars and instructions issued by the Central Board of Excise & Customs
76/2002

77/2002
Admissibility of DEPB credit and Market verification for ascertaining the present market value under DEPB Scheme
78/2002
Classification of Metal Oxide Varistors for surge Arresters under the Customs Tariff.
79/2002

80/2002

81/2002
Classification of Plan Stearin.
82/2002

83/2002

84/2002
Revision of All Industry Rates of Drawback in respect of a few entries of the Drawback Table 2002-2003
85/2002
Supreme Court’s decision in the case of GMMCO [ 2001 (127) ELT 508] in the context of Related Party Transaction
86/2002
Valuation treatment of royalty/license fees payable on imported films
87/2002
Powers of Adjudication of Additional / Joint Commissioners of Customs
88/2002
Supply of Goods by EOU/EPZ/SEZ units against Special Entitlement of Duty Free Import of Goods
89/2002
Customs procedure for shipment of export cargo to Bangladesh by the inland waterways route from Haldia Docks Complex
90/2002
Issuance of Transhipment Permit at Ports on Saturdays
91/2002
Transfer of Unutilized Raw Material from one EOU/ EPZ/ STP/EHTP Unit to another EOU/EPZ/STP/EHTP Unit under Paragraph 6.16 of the Policy
92/2002

93/2002
Removal of Brass Borings/Scrap to the Job Worker for Recycling into Brass Bars
94/2002
Import of pets under Baggage
95/2002
Assessment of Duty of Gold/Silver in SEZ
96/2002
Assessment of bulk liquid cargo – ship ullage survey report Vs shore tank receipt – Supreme Court’s order dated 20.2.2002 in Civil Appeal No.6764/1999 in the case of Commissioner of Customs (Import), Mumbai Vs M/s. National Organic Chemical Industries Ltd.(NOCIL).