9911796707
TMI BlogAmendment of section 80-HHCX X X X Extracts X X X X X X X X Extracts X X X X ..... l, 1998, namely:- 'Provided further that in the case of an assessee having export turnover not exceeding rupees ten crores during the previous year, the profits computed under clause (a) or clause (b) or clause (c) of this sub-section or after giving effect to the first proviso, as the case may be, shall be further increased by the amount which bears to ninety per cent. of any sum referred t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to choose either the duty drawback or the Duty Entitlement Pass Book Scheme, being the Duty Remission Scheme; and (b) the rate of drawback credit attributable to the customs duty was higher than the rate of credit allowable under the Duty Entitlement Pass Book Scheme, being the Duty Remission Scheme: Provided also that in the case of an assessee having export turnover exceeding rupees ten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , being the Duty Remission Scheme. Explanation. - For the purposes of this clause, "rate of credit allowable" means the rate of credit allowable under the Duty Free Replenishment Certificate, being the Duty Remission Scheme calculated in the manner as may be notified by the Central Government:'; (B) after the fourth proviso as so inserted, the following proviso shall be inserted and shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t day of April, 1998,- (I) in the proviso to clause (ba), for the word, brackets, figures and letter "and (iiic)", the brackets, figures, letters and word "(iiic), (iiid) and (iiie)" shall be substituted and shall be deemed to have been substituted; (II) in clause (baa), in sub-clause (1), for the word, brackets, figures and letter "and (iiic)", the brackets, figures, letters and word "(iiic), ..... X X X X Extracts X X X X X X X X Extracts X X X X
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