Office or place of profit limits revised, requiring company special resolution for substantial remunerations and central approval for larger ones.
Company consent by special resolution is required where an office or place of profit carries monthly remuneration at or above the prescribed threshold, and prior government approval in addition to company special resolution is required where monthly remuneration meets the higher prescribed threshold; the Central Government has revised those monetary thresholds upward by notification under the General Rules and Forms.

Delegation of enforcement powers to securities regulator enables filing of corporate offences complaints, ensuring coordination with company registrars.
Central Government authorized an officer of the securities regulator to file complaints under specified provisions of the Companies Act, 1956 and required the regulator to furnish complaint details to the concerned Registrars of Companies and the Ministry to avoid duplication of action. The regulator must forward any applications for compounding of offences to the relevant Registrars, who will take appropriate action under extant law, and the notification reiterates earlier delegated complaint filing powers in respect of additional company law provisions.

High Power Committee clearance required - appeals may be filed to save limitation but must be referred promptly for suspension.
Before instituting litigation involving Government Departments and Public Sector Undertakings, every endeavour must be made to obtain clearance from the High Power Committee; appeals may be filed to save limitation but where filed without prior clearance the appellant must within one month refer the matter to the Committee and serve prior notice on the Under Secretary (Coordination) in the Cabinet Secretariat. The reference is effective only after lodging that notice, and once made the operation of the challenged order or proceedings is suspended pending the Committee's decision; if unresolved, the Committee must record reasons and grant clearance for litigation.

Foreign trade regulation now combines facilitation and control, with policy power centralised and civil adjudication of breaches.
The Act shifts foreign trade law toward development and regulation, empowering the Central Government to formulate and non delegably announce an Export & Import Policy and making that Policy part of the statutory framework alongside rules and orders. Contraventions are treated as civil offences adjudicated administratively; possession of an Importer-Exporter Code is mandatory; and adjudicating authorities may accept monetary settlements for admitted contraventions.

Excise duty classification: duty on EPZ/EOU rejects and DTA supplies must be credited to Union Excise Duties subhead.
Duty on sale of rejects and on production sold into the Domestic Tariff Area by EPZ and 100% EOUs is chargeable under Section 3 and should be credited to the sub head 0038 Union Excise Duties; trade and field formations are to be informed to ensure uniform accounting and remittance.

Bank guarantee realization: effect revenue recovery upon formal court order, prompting banks to honour guarantees per regulatory guidance.
Realisation of revenue under a bank guarantee is to be effected only upon receipt of a Court's order; banks had required certified copies of judgments before honoring guarantees, and a regulatory circular to commercial banks was issued to address compliance and payment procedures under guarantees in such cases.

Deduction under section 115J follows the computation method of sections 80HHC and 80HHD, not their quantified amounts.
Clause (iii) requires that the net profit shown in the profit and loss account be adjusted as per the Explanation's specified additions and deductions and that the deduction from book profits be computed by applying the procedural proportionate methods used in the export-deduction rules; if the business is exclusively eligible the full adjusted amount is deductible, otherwise the relevant export-related turnover or receipts proportion is applied to the adjusted amount to determine the deduction.

Exemption eligibility for cold finished bright steel bars affirmed, clarifying they qualify for specified central excise relief.
Cold rolled/cold formed/cold finished bars and rods commercially known as bright bars are eligible for benefit under the specified central excise notification. The manufacturing process-acid pickling, surface smoothing, lime neutralization, cold drawing through dies and final polishing/straightening-produces cold finished bright bars and does not amount to disqualifying further working; accordingly those bright bars qualify for the excise exemption.

Guarantee commission not remuneration: department withdraws circular treating it as managerial remuneration, no approval required.
Guarantee commission paid to directors for personal surety on company loans is not to be treated as managerial remuneration, and the Department has withdrawn its earlier circular that classified such payments as remuneration and required central approval, aligning administrative practice with the judicial view that standing surety payments are not remuneration for services.

Centralised numbering system standardises excise orders and circulars, requiring CX.3 register, prescribed prefixes and central allocation.
A centralised numbering regime requires all Central Excise Wing instruments to bear sequential multi part numbers (running serial/serial in year/two digit year-CX) with statutory prefixes for orders under specified provisions. CX.3 will maintain a central register and allocate running numbers; no section may issue instruments without a number from CX.3, and copies of numbered instruments must be circulated to concerned formations. Earlier orders have been re numbered for reference to ensure consistency and ease of field reference.

Reporting requirement for seizures and prosecutions: mandatory monthly progress reports and a management information system to track recovery.
Require monthly consolidated progress reports on significant seizures, prosecutions and recoveries in Central Excise and Customs to the Director General (Anti Evasion) and through Chairman (CBEC), addressing gaps where seizure and prosecution progress information did not reach decision makers. Establish a reporting requirement and implement a departmental management information system for uniform monthly reporting by field formations to ensure visibility of prosecution and recovery actions and submission of reports to Ministers and the Finance Ministry.

Luxury tax exclusion from room charges clarifies Expenditure-tax scope, withdrawing prior guidance and adopting contrary interpretation.
The Board accepts the Income-tax Appellate Tribunal's view that luxury tax and similar State levies do not form part of room charges under section 2(10) of the Expenditure-tax Act, 1987, and withdraws earlier circulars that had required inclusion of such taxes in the room-charge base for Expenditure-tax applicability.

Payment of excise duty required prior to clearance of liquified gas; prior permissions to remove without payment must be withdrawn.
Clearances of liquified gas in tanker lorries are prohibited without prior payment of excise duty and any permissions to remove such gases under a passout system must be withdrawn. Suppliers must clear gas only against buyer orders specifying quantities so gate passes can be issued and duties paid in each case before removal, aligning removals with the Central Excise Rules' requirement of duty payment by debit to account current.

Waiver of interest on customs duty denied for prematurely debonded exclusive EOUs' imports, except in exceptional cases.
Waiver of interest on customs duty for goods imported by exclusive EOUs depends on fulfillment of export obligation; if an EOU is pre-maturely debonded without production or export, interest waiver will ordinarily be refused and will be considered only in very exceptional circumstances. This policy is to be applied by officers deciding waiver requests under warehousing.

Managerial remuneration rules: Schedule XIII permits specified minimum pay in loss years without separate Central Government approval.
Amendment to Schedule XIII effective 1 February 1994: where a company has adequate net profits, remuneration of managerial personnel is governed by section 1 of Part II allowing payment within prescribed percentage ceilings; where profits are absent or inadequate, section 2 of Part II prescribes minimum remuneration and ceilings (with certain perquisites excluded from the ceiling). Remuneration under section 2 is admissible in such years without separate Central Government approval; excess pay must be recovered or regularised by approval, and remuneration must be adjusted if effective capital falls.

Tax deduction under section 80G: donations to CM earthquake relief fund eligible for full deduction; employers may deduct via payroll.
Drawing and Disbursing Officers may allow 100% deduction under section 80G for donations to the Chief Minister's Earthquake Relief Fund if satisfied as to amount and receipt; no upper ceiling applies though donations below a specified minimum are ineligible. Employers remitting payroll collections as lump sums must supply the Fund with a donor-identifying list counter-signed by the Fund and issue employee certificates detailing deductions and remittance particulars. A statutory amendment is pending and the instruction applies to donations made in the referenced financial year.

Dispute resolution with public sector undertakings via mandated administrative consultations before adjudication, preserving show cause rights.
Procedure requires Assistant/Deputy Collector to send a brief summary to the unit head and Collector, who must meet the unit head to seek negotiation; if unresolved, the Collector forwards facts and discussion report to the Principal Collector, who shall meet senior management to attempt resolution. The process preserves the right to issue a Show Cause Notice within limitation periods and, if consultations fail, allows completion of normal adjudication in accordance with law.

Galvanisation not manufacture: Board clarifies galvanised pipes and tubes are covered as Tubes and Pipes, not new manufactured goods.
The Central Board clarifies that galvanisation of pipes and tubes does not amount to manufacture under Section 2(f) of the Central Excises and Salt Act, 1944, following Circular 25/90-CX.4 which treated galvanised pipes and tubes as covered by Tubes and Pipes; tribunal and high court decisions have supported that galvanisation is not manufacturing and collectors are to follow this position.

Concessional duty for Rural Automatic Exchanges clarified: eligible components and certificate requirement for clearance.
Concessionary excise treatment under Notification No. 73/90-C.E. applies to Rural Automatic Exchanges where the manufacturer produces at clearance a certificate from a Department of Telecommunications officer (not below General Manager) that the goods (including quantity and technical specifications) are required for establishment of the rural telecommunication network and will not be used otherwise. RAX includes Base Module, Line Module, Input Output Processor, Alarm Display Unit, Monitor, Software, Documentation, Over Voltage Protection Devices, Spares and Installation materials when cleared together; specified items cleared separately do not qualify.

Restrictions on removal of excisable goods: permissions, declarations and provisional applications required for clearances around Budget Day.
Removal of excisable goods after the prescribed hours on the day preceding and on the Budget Day requires prior permissions, undertakings to pay any enhanced duty, and strict observance of the Self Removal Procedure suspension. Assessees must file advance and, where necessary, final applications for clearance, and furnish declarations of last gate pass numbers and closing stock; failure to declare or furnishing incorrect information attracts penal action. Collectors must designate proper officers to receive applications, supervise removals, permit limited provisional applications in specified circumstances, and report any relaxations to the Ministry for approval.