New Trademark Rules (search free & application costly)
Patent and trademark seekers will no longer have to wait for weeks to get the go-ahead for their applications from the government’s patent registrar. The Amendment in trademark Rule has made the search facility on the web portal of the Intellectual Property Rights free making application fee costlier by a thousand rupee from Rs. 2500 to Rs. 3500.The above changes have been made applicable w.e.f 29th December, 2010 .
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Norms for Execution of Bank Guarantee in respect of Advance Authorization/ DFIA / EPCG Schemes
Finance Ministry has modified the Circular No.58/2004-Cus.by allowing exemption from Bank Guarantee in respect of Advance Authorisation, Duty Free Import Authorization (DFIA) / Export Promotion Capital Goods (EPCG) Schemes involving any offences other than those which are specifically mentioned in the modified Circular No. 06 /2011-Customs.
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Clarifications on issues pertaining to EPCG Scheme
DGFT, vide its circular No. 12 / (RE-2010) 2009-14, has summarized the clarifications on various issues pertaining to EPCG Scheme which were raised by Regional Authorities.
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Re-Credit Certificate for Re-export of defective / unfit goods and/or Re-assessment of Debited Duty and/or re-exports on account of any other reason
DGFT has directed the Customs department to permit the use of re-credit amount to the extent of 98% within a period of 6 months from the date of issuance of re-credit certificate issued in case of re-export of defective or unfit goods or re-assessment of debited duty and there shall be no need for issue of fresh scrip by DGFT regional offices.
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No CENVAT credit to the downstream units if the Excise duty is paid on exempted goods
CBEC has clarified that if an assessee pays any Excise Duty on exempted goods, the same cannot be allowed as “CENVAT Credit” to the downstream units as the amount paid by the assessee cannot be termed as “duty of excise” under Rule 3 of the CENVAT Credit Rules, 2004.
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