• DIRECTOR GENERAL OF FOREIGN TRADE

Policy Circular No. 11/2009-14 Dated 13.10.2009 - Reimbursement of Secondary and Higher Education Cess Paid on Excise duty/terminal Excise Duty in Case of Supplies Made Under Deemed Exports

Director General of Foreign Trade has clarified that the clarification dated 11th April 2008 providing for refund of Education cess, including Secondary and Higher Education Cess paid along with excise duty may subject to fulfillment of requisite conditions, is also applicable on claims filed before that date for refund of Secondary and Higher education cess.

Policy Circular No. 10/2009-14 Dated 12.10.2009 - Clarification to enable procurement of spares beyond 5% by granite sector EOUs

Department of Revenue has clarified that there is no limit for the spares required for capital goods for use within EOU while repling to the Representations were received from EOUs in granite sector stating that some of the Customs Authorities apply the 5% limit in regard to procurement of spares also under Customs Notification 52/03

Public Notice No. 14/RE 2009-14 Dated 13.10.2009 - Additions/Amendments to Schedule of DEPB Rates

Director General of Foreign Trade has provided amended DEPB rates for the "Engineering Products" (Product Code: 61) and "Chemical" (Product Code:62) in exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-2014 and Paragraph 1.1 of the Handbook of Procedures (Vol.1).

• INDIRECT TAXATION

CBEC Customs

Notification No. 116/2009 Dated 08.10.2009 - Imposition of anti-dumping duty on imports of Plain Medium Density Fibre Board, originating in, or exported from the People's Republic of China, Malaysia, Thailand and Sri Lanka

Central Government had imposed anti-dumping duty of import of Plain Medium Density Fibre Board of thickness 6 mm and above originating in, or exported from the People's Republic of China, Malaysia, Thailand and Sri Lanka. The anti-dumping duty imposed vide this notification shall be levied with effect from the date of imposition of the provisional anti-dumping duty, and shall be payable in Indian currency.

Circular No. 28/2009 Dated 14.10.2009 - Export against supply by Nominated Agencies- procedure and guidelines reg

In order to address the difficulties in supply of gold, silver and platinum to small jewellery exporters, DGFT has included 5 more new agencies/entities as "nominated agencies" for import of gold/silver/platinum and prescribed certain procedure and guidelines . In order to avoid divergent practices and to streamline supply of precious metal for exports CBEC has prescribed the procedure, supplementing the procedure specified by DGFT and Circular No. 24/98-Cus dated 20th April 1998 stands withdrawn.

Customs Circular No. 29/2009-Customs dated 15. 10. 2009 - Guidelines for compounding of offences under Customs Act, 1962 - regarding.

In order to make best of use of the scheme of compounding of offences board has issued certain guidelines for compounding of offences under the said scheme in supperssion of the board's Circular No. 54/2005 dated 30th December, 2005.

CBEC Excise

Circular No. 901/21/2009-CX Dated 08.10.2009 - Valuation of SKO(PDS), LPG and other goods under Transaction Value System from 01.07.2000

The Board has decided that department should contest the Supreme Court decision in the case of MRPL regarding valuation of SKO (PDS) and LPG (domestic) for the period 01.07.2000 onward, observing that the issue involved was covered by CBEC Circular No. 563/59/2000-CX. Dated 21.12.2000, in respect of other appeals which are being filed before the Hon'ble Supreme Court on the identical issue. Board has requested that the field formation should transfer the cases to call book where notices are pending for adjudication and should file the appeal wherever the cases had been decided.

• SECURITIES EXCHANGE BOARD OF INDIA

SEBI SMD Circular No. MRD/DoP/SE/Cir-14/2009 Dated 14.10.2009 - Revision of Transaction Charges by the Stock Exchanges

In exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, board has laid down certain guidelines to be observed while revising the transaction charges.

• VAT NOTIFICATIONS

State of Maharashtra

Circular No. 28T of 2009 Dated 15.10.2009 - Extension of date for filing refund application electronically

Every registered dealer who is entitled to claim refund as provided under section 51 of Maharashtra Value Added Tax Act, 2002 was required to file refund application in Form-501 electronically and electronic filing of said application was made mandatory with effect from 1st October, 2009. However, said date is extended upto 1st December 2009, accordingly, the dealers are requested to submit the said applications manually till 30th November, 2009.