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Powers to serious fraud investigation office to investigate frauds
The Government has said that the Serious Fraud Investigation Office (SFIO) forwards the complaints received in its office to the Ministry of Corporate Affairs for appropriate action. The Ministry, after examination and wherever required, after calling the reports from the concerned Registrar of Companies (ROC) under section 234 of the Companies Act, 1956, takes appropriate action and based on the report of the ROC, wherever the situation warrants, investigation orders are issued under section 235 of the Companies Act, 1956 for investigation by the SFIO. Giving this information in written reply to a question in Rajya Sabha, Shri Salman Khurshid, Minister for Corporate Affairs, said that the Government is not considering giving the SFIO the powers to trail money stashed abroad by corporates.
Amends Notification No.24/2005-Central Excise (N.T.) dated 13th May, 2005
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF EXCISE AND CUSTOMS)
Notification No 12 /2010 Central Excise (N.T.)
New Delhi, the16 March, 2010.
G.S.R. (E) - In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944 (1 of 1944), the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 24/2005-Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) ,vide, number G.S.R. 304(E), dated the 13th May, 2005, namely:-
In the said notification, in the Table, against serial number 14, in column (2), in item number (2) for the word “Cochin” , the word “Bangalore” shall be substituted ;.
[F.No.390/39/07-JC]
MOHAN LAL
Under Secretary(Judicial Cell)
Note:- The principal notification No.24/2005-Central Excise (N.T.) was published in the Gazette of India, Part II, Section 3(i),vide, number G.S.R.304(E), dated the 13th May,2005 and was subsequently amended by :-
(i) Notification No. 29/2005- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R.380(E), dated the 8th June, 2005.
(ii) Notification No. 35/2005- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R.661(E), dated the 14th November, 2005.
(iii) Notification No. 4/2007- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R.74(E), dated the 9th February, 2007.
(iv)Notification No. 9/2008- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R.101(E), dated the 21th February, 2008.
(v) Notification No. 3/2009- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 53(E), dated the 28th January, 2009
(vi) Notification No. 08/2009- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 270 (E), dated the 21st April, 2009
(vii) Notification No. 11/2009- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R.341(E), dated the 19th May 2009
(viii) Notification No. 1/2010- Central Excise (N.T.) published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 9(E), dated the 06 January2010
Verification Mechanism and monitoring of export obligation under duty exemption / reward Schemes – reg.
Circular No. 5 /2010-Cus.
F.NO.605/16/2007-DBK (Pt.)
Government of India
Ministry of Finance
Department of Revenue
-----------
New Delhi, the 16th March, 2010.
To,
All Chief Commissioners of Customs/Central Excise/Customs & Central Excise.
All Commissioners of Customs/Customs (P)/Customs &Central Excise/Central Excise.
All Director Generals of CBEC,
Chief Departmental Representative of Customs Excise & Service Tax Appellate Tribunal.
*****
Sir/Madam,
Sub: Verification Mechanism and monitoring of export obligation under duty exemption / reward Schemes – reg.
*******
I am directed to invite your attention to the above-mentioned subject and to say that, several references have been received, requesting the Board to put in place a verification mechanism in respect of the duty credit scrips issued under Chapter 3 schemes of the Foreign Trade Policy (FTP) and in respect of the Export Promotion Schemes viz. Advance Authorization / Duty Free Import Authorization (DFIA) / Export Promotion Captial Goods (EPCG) schemes.
2. The matter has been examined by the Board in the light of the conditions specified in the notifications regarding monitoring of export obligation in respect of Advance Authorization / DFIA / EPCG schemes. Board has also considered the reports received from the field formations, which indicated discrepancies found having revenue implications during the verification of the duty credit scrips, issued under Chapter 3 schemes of FTP. Accordingly, it has been decided to put in place the following procedures:-
a)In case of EPCG scheme, the Jurisdictional Customs Authorities at the Port of Import shall ensure that the installation certificates are submitted within 6 months of completion of imports as stipulated in the corresponding customs notifications. The correctness of the installation certificates, which are issued by the Chartered Engineers, shall be verified on a random basis through Central Excise divisions. Further, the EPCG notifications stipulate fulfilment of atleast 50% of export obligation within the first block. This shall be verified in detail. In case the same is found satisfactory, the Export Obligation Discharge Certificate issued by the Director General of Foreign Trade (DGFT) at the end of 2nd block may be accepted without further verification unless there is a specific intelligence suggesting need for detailed verification.
b)In case of Advance Authorization scheme, the Export Obligation Discharge Certificate should normally be accepted unless there is an intelligence suggesting misuse.
c)The Jurisdictional Commissioner of Customs may cause random verification for some of the authorizations issued under EPCG / DFIA / Advance Authorization schemes registered at their port to check the correctness of the address shown on the Authorization. This is important, as the EPCG notification requires installation of the capital goods and the Advance Authorisation scheme (and DFIA scheme in some cases) contemplates actual usage of the imported goods. Such verification may be carried out during the validity of the Authorisation and preferably through the Central Excise divisions.
d)Action to safegaurd customs revenue should be initiated in case the authorization holder does not submit the Export Obligation Discharge Certificate within the time period stipulated in the relevant Customs notifications.
e)As regards the duty credit scrips issued under Chapter 3 of FTP, the verification of genuineness of scrips in terms of Para 3.11.3 of the HBP v.1 shall be done before allowing registration of such scrips. Further, the Commissioner may cause random verification of the shpping bills based on which the said duty credit scrip has been issued to ascertain the genuiness of such shipping bills. A quarterly report on the outcome of the said verification may be forwarded to the Board, which should include inter alia the details of the discrepancies noticed during the verification and the measures taken to redress such discrepancies. This procedure will be reviewed once online transmission of the duty credti scrips issued under Chapter 3 of FTP is operationalized.
f)Wherever the Export Obligation Discharge Certificates issued by DGFT bear the requirement that the Customs department should carry out verification, then such verification should be done. In all cases – EPCG, Advance Authorization, DFIA and Reward Schemes, the Department would retain the right to carry out a complete verification wherever there is specific intelligence available suggesting misuse.
3. The notifications issued under EPCG / Advance Authorization / DFIA schemes provide that the exporter should discharge the export obligation within the specified time period or within such extended period as may be permitted. Further, the notifications issued under EPCG scheme stipulates that in case of non-fulfillment of block-wise export obligation, the importer should pay the proportional duty of unfulfilled portion of export obligation along with specified interest from the date of clearance of the goods and such payment should be made within 3 months from the expiry of said block. Monitoring of export obligation is an integral part of verification mechanism. This would facilitate faster redemption of Bonds / Bank Guarantee executed under the above schemes. In view of above, the Jurisdictional Commissioners of Customs are directed to put suitable systems in place to initiate timely action in all cases of default.
4. The guidelines issued in the past on the subject shall be modified to the above extent.
5. These instructions may be brought to the notice of the trade / exporters by issuing suitable Trade / Public Notices. Suitable Standing orders/instructions may be issued for the guidance of the assessing officers. Difficulties faced, if any, in implementation of the Circular may please be brought to the notice of the Board at an early date.
Receipt of this Circular may kindly be acknowledged.
[TO BE PUBLISHED IN PART-II, SECTION-3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY]
Government of India
Ministry of Finance
(Department of Revenue)
(Central Board of Excise and Customs)
Notification No. 20/2010 – Customs (N.T.)
New Delhi, 15th March, 2010
24 Phalguna, 1931 (SAKA)
S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: -
In the said notification, for the Table, the following Table shall be substituted namely:-
“T A B L E
S. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value US $
(Per Metric Tonne)
(1)
(2)
(3)
(4)
1
1511 10 00
Crude Palm Oil
447 (i.e. no change)
2
1511 90 10
RBD Palm Oil
476 (i.e. no change)
3
1511 90 90
Others – Palm Oil
462 (i.e. no change)
4
1511 10 00
Crude Palmolein
481 (i.e. no change)
5
1511 90 20
RBD Palmolein
484 (i.e. no change)
6
1511 90 90
Others – Palmolein
483 (i.e. no change)
7
1507 10 00
Crude Soyabean Oil
580 (i.e. no change)
8
7404 00 22
Brass Scrap (all grades)
3801
9
1207 91 00
Poppy seeds
4256”
[F. No. 467/4/2010-Cus.V]
(M. Satish Kumar Reddy)
Director to the Government of India
Note: - The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S. O. 748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 19/2010-Customs (N.T.), dated, the 27th February, 2010 (S. O. 515 (E) dated 27th February, 2010).
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 12th March, 2010
Notification No. 33/2010-Customs
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R.118 (E), dated the 1st March, 2002, namely:-
In the said notification, in the Table,-
(i) for S. No 3 and the entries relating thereto, the following shall be substituted, namely:-
S. No.
Chapter or Heading No. or sub-heading No.
Description of goods
Standard rate
Additional duty rate
Condition No.
(1)
(2)
(3)
(4)
(5)
(6)
“3.
0402 10 or 0402 21 00
Goods upto an aggregate of thirty thousand metric tonnes of total imports of such goods in a financial year.
Nil
-
1”.
(ii) after S.No. 3AA and the entries relating thereto, the following S.No. and the entries shall be inserted, namely:-
S. No.
Chapter or Heading No. or sub-heading No.
Description of goods
Standard rate
Additional duty rate
Condition No.
(1)
(2)
(3)
(4)
(5)
(6)
“3AB.
0405
White Butter, Butter oil, Anhydrous Milk Fat upto an aggregate of fifteen thousand metric tonnes of total imports of such goods in a financial year.
Nil
-
1.”
[F.No.354/20/2010-TRU]
(Prashant Kumar)
Under Secretary to the Government of India
Note: The principal notification No.21/2002-Customs, dated the 1st March, 2002 was published in the Gazette of India, Extraordinary, vide number G.S.R. 118(E), dated the 1st March, 2002 and was last amended vide notification No. 21/2010-Customs, dated the 27th February, 2010 published vide number G.S.R.134(E), dated the 27th February, 2010.
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