• DIRECTORATE GENERAL OF FOREIGN TRADE

Notification No. 117 (RE-08)/2004-2009 Dated 13.07.2009 - Rescinds the Notification No. 115 (RE-2009)/2004-2009 Dated 3rd July, 2009

Central Government in exercise of the power conferred by the Foreign Trade (Development & Regulation) Act, 1992 read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, rescinds the Notification No. 115 (RE-2009)/2004-2009 dated 3rd July, 2009 providing for removal of ban on the export of wheat. Consequently, ban imposed on the export of wheat vide Notification No. 33 (RE-2007)/2004-09 dated 8.10.2007 stands revived .

• INDIRECT TAXATION

CUSTOM

Notification No. 80/2009 Dated 07.07.2009 - Exemption to the specified software from levy of customs duty

Central Government in exercise of the power conferred under Customs Act, 1962 exempts the packaged software or canned software, falling under Chapter 85 of the First Schedule of the Customs Tariff Act from so much of additional duty leviable thereon under of section 3(1) of the said Customs Tariff Act , as is equivalent to the duty payable on the portion of the value of such goods determined under section 14 of the Customs Act , subject to conditions provided therein. In order to claim exemption, "packaged software or canned software" would means software developed to meet the needs of variety of users, and which is intended for sale or capable of being sold off the shelf.

Notification No. 79/2009 Dated 07.07.2009 - Exemption from customs duty to specified parts, components and accessories of mobile handsets

Central Government exempts parts, components and accessories of mobile handsets including cellular phones, from the whole of the additional duty of customs leviable under of section 3(5) of the Customs Tariff Act, 1975, provided importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996. 

EXCISE

Circular No. 891/11/09-CX Dated 15.06.2009 Exemption is not Available to 'Pipe Fittings' Used in the Pipe Network for Supply of Drinking Water

The circular examined the issue the issue whether the 'pipe fittings' in the water supply network are also exempted under Notification No. 6/06-CE. manufacturers of pipe fittings (joints, sleeves, elbow, couplings, etc.) are claiming the benefit of the Sl No. 7 of the Notification No. 6/06-CE in view of decision of the Supreme Court in case of M/s Bharat Forge . However, a careful reading of the said judgment revealed that it was delivered in the context of item No 26AA(iv) of the erstwhile Tariff, and in the said judgment, it was also observed that as the entries in the erstwhile Tariff and present Tariff are different, the entries in the present tariff cannot be used to interpret the entries in the old tariff. Therefore, the said judgment is not applicable to the present Tariff, where pipes and pipe fittings are classified under different Tariff items.

Further, intention behind the notification is to provide exemption only to pipes as understood in the common parlance and not to fittings which is a separate commodity and known differently in the market. As pipe fittings are a separate commodity and cannot be subsumed under the generic terms 'Pipes'. A glance at the Tariff shows that the pipe fittings are classified separately from pipes. This clearly implies that the two commodities are different.

• MINISTRY OF LABOUR AND EMPLOYMENT

Notification No. GSR514(E) Dated 10.07.2009 - Employees' Pension (Amendment) Scheme, 2009

The Central Government has issued a scheme further to amend the Employees' Pension Scheme, 1995 by substituting Table-E. It shall come into force on the date of its publication in official Gazette i.e. 1.07.2009.

• PRESS INFORMATION BUREAU

PIB Dated 09.07.2009- EPCs and FIEO exempted from service tax

In recognition of the valuable services rendered by the Export Promotion Councils (EPCs) and the Federation of Indian Export Organisations (FIEO) in the promotion of exports, these organizations are exempted from levy of service tax on the membership and other fees collected by them till 31st March, 2010. These organizations assist in promotion of exports and do not have any commercial motive for their functioning. A plethora of services is provided by these councils which is possible only on the strength of its membership constituted of significant number of members belonging to the Micro, Small and Medium Scale Sector whose ability to pay is limited.

• SECURITIES EXCHANGE BOARD OF INDIA

Mutual Fund Circular No. SEBI / IMD / CIR No. 5/169030/2009 Dated 08.07.2009 - Revision in Filing Fees - Amendments to SEBI (Mutual Funds) Regulations, 1996

Notification No. LAD-NRO/GN/2009-10/11/167759 on SEBI (Payment of Fees) (Amendment) Regulations, 2009 dated 29 June, 2009, provides for amendment to the SEBI (Mutual Funds) Regulations 1996 regarding revision in filing fees. SEBI clarifies that the revised filing fee would be applicable to those scheme(s) whose scheme information document(s) has been filed with SEBI on or after July 1, 2009.

• INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

Circular No. 018/AML-CIR/IRDA/E-Payments/Jul-09 - E-Payments By Life Insurance Companies

Recognizing the increasing utility of electronic payments, which also ensure safety and speed of such payments, it has been decided to permit payments to all policyholders and beneficiaries through electronic payment methods such as ECS, NEFT Systems (as per details enclosed) as approved by the Reserve Bank of India in addition to account payee cheques.

• MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION

Notification No. GSR508(E) Dated 07.07.2009 Sugar Development Fund (Amendment) Rules, 2009

The Central Government has further amended the Sugar Development Fund Rules, 1983 by inserting Rule 16A relating to sanctioning and notifying schemes to give loans for modernisation of sugar factories to purchase and install machinery and equipment required for simultaneous processing of raw sugar with crushing of cane for the manufacture of sugar. The Notifications has also substituted Rule 17A and modified text in Rule 25 and Form III-A has been omitted.

Order No. SO1621(E) Dated 02.07.2009 - Removal of (Licensing Requirements, Stock Limits and Movement Restrictions) on Specified Foodstuffs (Fifth Amendment) Order, 2009

The Ministry vide SO1621(E) dated 02.07.2009 has made further amendments to the extent that for the words and expressions used in respect of purchase, movement, sale, supply, distribution or storage for sale in the Removal of (Licensing Requirements, Stock Limits and Movement Restrictions) on Specified Foodstuffs Order, 2002 shall be kept in abeyance for commodity, namely, Sugar for a further period of six months i.e. up to 8th January, 2010 from the date of commencement of this Order i.e. 9.7.2009. However the transport, distribution or disposal of sugar to places outside the State shall remain unaffected by this order, however the Central Government or State Governments may direct the importers to declare the receipts of stocks of sugar and stocks retained by them.