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July, 2006
Some of the Important Announcements made by the CBEC, Government of India during July, 2006 Department of Revenue Notification No.73/2006-Customs dated 10th July, 2006 is the corresponding Notification on the Target Plus Scheme under Paragraph 3.7 of the Foreign Trade Policy, for the financial year 2005-06. Circular No. 19/2006-Cus dated 13th July, 2006 highlights the important changes in All Industry Rates of Duty Drawback 2006-07. Circular No. 20/2006-Cus dated 21st July, 2006 issues clarification regarding Levy of Special additional duty of Customs (CVD) @ 4% under Duty Free Credit Entitlement (DFCE) Scheme. Notification No.80/2006-Customs (NT) dated 13th July, 2006 makes amendments/modification in Customs and Central Excise Duties Drawback Rules 1995 as the “Customs, Central Excise Duties and Service Tax Drawback (Amendment) Rules 2006”. Notification No.81/2006-Customs (NT) dated 13th July, 2006 notifies the new Duty Drawback Rates effective from 15th July, 2006. Export Warehousing facility is extended to Navi Mumbai in the district of Thane in the State of Maharashtra as per Circular No.830/07/2006-CX dated 3rd July, 2006.
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