Rescission of customs notification removes previously applied effective duty rates across specified tariff chapters, restoring prior duty framework.
The Central Government, invoking its statutory power and being satisfied of public interest, rescinds the prior customs notification that had fixed the effective rate of duty for goods classified in Chapters 1-99 of the tariff schedule, thereby withdrawing that earlier exemption/notification instrument and changing the applicable duty treatment for those chapters.

SSI exemption restriction: monetary threshold now excludes manufacturers whose home-consumption clearances exceed the set limit.
The notification substitutes paragraph 3 to provide that the SSI exemption does not apply where the aggregate value of clearances of all excisable goods for home consumption by a manufacturer (from one or more factories), or from any factory by one or more manufacturers, exceeded rupees two hundred lakhs in the preceding financial year; additionally, the third proviso to paragraph 4 is omitted.

Rescission of tax notifications: withdrawal of specified excise exemptions and effective/additional duty rates altering excise liability.
The Central Government rescinds three finance ministry notifications, withdrawing (i) the exemption for cinematographic films under Notification No. 18/93-C.E., (ii) the effective rates of duty for goods of Chapters 15-95 under Notification No. 62/94-C.E., and (iii) the additional duty rates for fabrics of Chapters 51-60 under Notification No. 63/94-C.E., exercising powers under section 5A of the Central Excises and Salt Act, 1944 and, where applicable, section 3(3) of the Additional Duties of Excise Act, 1957, on grounds of public interest.

Compounded rubber exemption: captive intra factory use for specified rubber goods and toy balloons attracts nil excise duty.
Notification exempts compounded rubber from central excise duty when it is captively consumed in the factory of its production for manufacture of specified rubber goods or children's toy balloons, substituting the earlier tariff entry to create a conditional nil duty exemption limited to intra factory use for those specified end uses.

Specified bonds: notification designates a 7 year secured redeemable bond issue as qualifying under the income tax specification.
Central Government specifies for the purposes of clause (ii) of section 80L a Xth Series issue of 7 year, 16.5% taxable, Secured Redeemable Bonds, serial numbers J00000001 to J01875000, denomination one thousand each and the stated aggregate face value, by notification.

Exchange rate determination for export goods establishes prescribed currency-to-rupee conversion rates effective from the notified commencement date.
The Central Government, exercising powers under the Customs Act, determines rates of conversion between specified foreign currencies and Indian rupees for export goods, superseding the prior notification, and directs that the rates set out in Schedules I and II shall apply from the stated commencement date as the operative benchmarks for conversions of the listed currencies.

Exchange rate determination set for imported goods, establishing conversion rates for stamp duty and customs valuation.
The notification prescribes exchange rates for specified foreign currencies for calculating stamp duty under the Indian Stamp Act, 1899 and for determinations under section 14 of the Customs Act, 1962 in relation to imported goods; it supersedes a prior notification and fixes the conversion rates by schedules to be applied for valuation and stamp-duty calculations.

Exemption under section 35AC approves medical trust projects for establishment and maintenance of specialty hospital units.
The Central Government, on the National Committee's recommendation and exercising powers under the Explanation to section 35AC and rule 11M(5), approves Sri Sathya Sai Medical Trust, Anantapur, and specifies the establishment and maintenance of Urology and Nephrology and Neurology units at the Speciality Hospital, Prasanthi Nilayam, as eligible projects for tax-exemption; the National Committee is satisfied with execution and the recognition is extended for a further two years for assessment years 1995-96 and 1996-97.

Extension of eligibility period under Section 35AC: project for Swagat Medical and Educational Centre recognised for an additional assessment year.
The Central Government specifies an eligible project and scheme for Swagat Medical and Educational Centre under the tax incentive provision, extending the recognised period by substituting "two years" with "three years" and expanding the listed assessment years to include the additional year, thereby permitting recognition for the subsequent assessment year at the estimated cost already set out in the original notification.

Section 35AC eligibility approved for school classroom construction; specified portion of project cost allowed as deduction for one assessment year.
Under Section 35AC, M/s. Shanti Gears Limited is specified as the undertaking to carry out construction of six additional classrooms with amenities at a Government Higher Secondary School in Arasur, Coimbatore, with an estimated project cost of Rs.10 lakhs and Rs.10 lakhs recorded as the maximum amount allowable as a deduction; the notification remains in force for one year for the relevant assessment year.

Exemption under the statutory provision: approved institutions' projects authorised for deductible project costs across specified assessment years.
Approval under the statutory exemption provision lists specified institutions with descriptions of eligible projects and the maximum amount of project cost allowable as deduction; the approval is time limited with different projects authorised for one, two or three assessment years, and the notification records a correction and later substitutions amending entries.

Renewal of recognition granted to OTC Exchange of India subject to implementing SEBI inspection recommendations within specified period.
Renewal of recognition for the Over The Counter Exchange of India is granted under the Securities Contracts (Regulation) Act for a five-year period commencing 23rd August 1994 and ending 22nd August 1999, subject to the Exchange taking necessary action to implement the recommendations contained in Section III of the SEBI inspection report (reference SMD-1/4186/94 dated 5-8-1994) and to any other conditions that may be imposed subsequently.

Cost Inflation Index specified to determine indexed cost under section 48, providing annual index values for past financial years.
Central Government, under clause (v) of the Explanation to section 48 of the Income-tax Act, specifies the Cost Inflation Index for financial years 1981-82 to 1994-95 to permit computation of indexed cost for capital gains. The notification bases the indices on the rise in the Consumer Price Index for urban non-manual employees and lists year-wise index values beginning at 100 for 1981-82 and culminating at 259 for 1994-95.

Section 35AC amendment substitutes the beneficiary name in a tax notification, replacing Jagriti with Sri Sathya Sai Gramin Jagriti.
Amendment under section 35AC substitutes the beneficiary name in the Table of the earlier notification: the entry at serial number 12, column 2 is changed from "Jagriti" to "Sri Sathya Sai Gramin Jagriti," effected by the Central Government on the National Committee's recommendation and under the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC.

Import exemption for used personal and household effects of deceased persons, subject to an Indian Mission ownership certificate at clearance.
Exemption applies to import of used bona fide personal and household effects of a deceased person from the whole of customs duty under the First Schedule to the Customs Tariff Act, 1975 and from the whole of additional duty under section 3, on production at customs clearance of a certificate from the concerned Indian Mission confirming ownership by the deceased.

Exemption for Desferrioxamine injection confirmed; excise duty fixed at nil by amendment to central excise notification.
The notification amends the Table to a prior central excise exemption by substituting the earlier entry for desferrioxamine preparations and inserting a new tariff line that specifies Desferrioxamine injection with an excise duty rate of nil.

Appointment of Inland Container Depot enables the designated complex to unload imports and load exports for containerised trade.
The central government, invoking clause (aa) of section 7 of the Customs Act, appoints the Container Corporation complex at Pithampur as an Inland Container Depot authorised to unload imported goods and to load export goods, applying to any class of such goods within the depot's functions.

Invoice requirement for removal of excisable goods mandates duty payment and signed triplicate invoices with production during transit.
Manufacturers removing excisable goods from free trade zones or export-oriented undertakings to elsewhere in India must remove such goods only under an invoice signed by the owner or authorised agent and on payment of excise duty; invoices must show value and duty separately, be prepared in triplicate with prescribed physical standards and copy allocation, have the original accompany the consignment for production on demand, and separate invoices are required for split consignments or separate conveyances. The term "invoice" is defined to include assessee documents like challans or advice.

Exemption for captively consumed inputs extended to specified final products, subject to exceptions and procedural conditions.
Specified intermediate goods are exempt from excise duty and additional excise duty when manufactured and used within the factory in or in relation to manufacture of specified final products listed in the Table, subject to procedural compliance under Chapter X where use occurs in a different factory of the same manufacturer, and excluding inputs used in relation to final products already exempt or charged at a nil rate except for specified export or special zone clearances.

Customs port designation authorises Revdanda for unloading imported iron ore and loading sponge iron for export.
The Central Government, exercising its statutory appointment power, designates Revdanda port in Maharashtra as a Customs port solely to authorise unloading of imported iron ore and ore pellets and loading of sponge iron for export, thereby assigning customs operational jurisdiction for those specific commodities at that port.