Eligible project designation under section 35AC extended; approved cost enhanced for specified healthcare and educational scheme.
The Central Government re-specifies the construction and running of an Eye Hospital, Ayurvedic Clinic, Homoeopathy Clinic and educational activities at Dharamraj by Shree Jalaram Janseva Trust as an eligible project or scheme for a further three-year period beginning with assessment year 2004-2005, and amends the prior notification to increase the approved cost used for computing deductions under the tax provision, following a recommendation by the National Committee for the Promotion of Social and Economic Change.

Tax incentive under Section 35AC: eligibility for free cancer treatment project renewed for an additional period.
The Central Government, under the power conferred by the statutory provision and its Explanation, specifies the project for free treatment for cancer patients at New Civil Hospital Campus, Asarwa, Ahmedabad, carried out by The Gujarat Cancer Society, as an eligible project or scheme for income-tax incentive purposes for a further period commencing from the assessment year 2004-2005, following a recommendation by the National Committee and on satisfaction that the project is being properly executed and will extend beyond the initial notified period; the notification records the executing body, location and estimated project cost.

Eligible project designation under section 35AC extended for a children's orthopaedic hospital, maintaining tax incentive qualification.
Specification under the income tax framework designates procurement, furnishing and operation of a children's orthopaedic hospital in Mumbai as an eligible project under the Explanation to section 35AC, and, on the National Committee's recommendation that the scheme is properly executed, the Central Government extends the period of specification for a further three years, identifying the Society for the Rehabilitation of Crippled Children as the executing entity and recording the estimated project cost.

Eligible project specification under section 35AC extended, maintaining tax-benefit qualification for donations to the destitute centre.
The Central Government specifies the construction and running of a Destitute Centre at Bhilarewadi Katraj, Pune, carried out by Janseva Foundation, as an eligible project or scheme under the Explanation to section 35AC, extending the period of eligibility for a further three years following a committee recommendation that the project is being executed properly and after noting the estimated project cost.

Specification under section 35AC extends eligible charitable hospital project subject to mandatory freeship and public notice.
The Central Government specifies the Shree Pragati Foundation hospital scheme in Mulund (West) as an eligible project under section 35AC for a further one year commencing with assessment year 2004 2005, at the estimated cost including a corpus fund, subject to the condition that 100% freeship is provided for 50% of beneficiaries from weaker sections and that public notice of free benefits is prominently displayed.

Section 35AC eligibility extended for Nirmay Tirth hospital project; further three-year specification and corpus fund concession permitted.
The Central Government specifies the construction and operation of a 200 bed hospital named Nirmay Tirth with mobile dispensaries at Sola, Ahmedabad, by Shree Bhagawat Vidyapeeth as an eligible project under Section 35AC for a further three year period, and amends the earlier notification to record the National Committee's concession in relation to the corpus fund and approved project cost.

Eligible project specification under section 35AC extends tax-advantaged status for a general hospital project in Jammu.
The Central Government specifies the construction of an 80 bed general hospital at Talab Tillo Road, Jammu, by BEE ENN Charitable Trust as an eligible project for the tax incentive under section 35AC for a further three year period commencing with assessment year 2004-2005, following the National Committee's recommendation that the project, which extends beyond nine years, is being executed properly and merits continued recognition.

Eligible project designation under section 35AC extended to support construction and operation of Cancer Hospital and outreach services.
The Central Government, pursuant to sub section (1) read with clause (b) of the Explanation to section 35AC, specifies the construction, purchase of equipment and operation of a Cancer Hospital with outreach services at Mathura and nearby states by Dr. Shella Sharma Memorial Charitable Trust as an eligible project or scheme for tax purposes, extending the prior specification for a further three year period commencing assessment year 2004 2005 at an estimated cost of rupees three crore fifty lakhs, based on the National Committee's recommendation under rule 11M.

Drawback schedule amendment clarifies silk content classification and prescribes differentiated drawback rates for natural silk and noil silk.
Substitutes in the Customs drawback Table for Chapters 50 and 62 distinguish goods made of natural silk from those made of Noil silk/Noil silk yarn and prescribe per kilogram drawback rates computed on silk content for fabrics, readymade garments (including high-fashioned), lungies, and made-up articles; each substituted entry applies under "All Customs" and replaces the corresponding Serial/Sub-serial entries in the prior notification.

Retention of duplicate export declaration forms required upon realisation of export proceeds by authorised dealers.
The Reserve Bank of India amended Regulation 6 of the Export Regulations to require that, upon realisation of export proceeds, duplicate declaration forms (GR, PP and SOFTEX), Exchange Control copies of shipping bills and related Statutory Declaration Forms shall be retained by Authorised Dealers.

Tariff value fixation establishes revised customs valuation for palm and soybean oils via substitution of the tariff table.
Pursuant to powers under Section 14(2) of the Customs Act, 1962, the Board amends notification No. 36/2001-Cus. (N.T.) by substituting the existing Table with a new Table that sets revised tariff values in US dollars per metric tonne for specified palm oil products and for crude soybean oil, thereby establishing the customs valuation reference for those imports.

Maritime Commissioner definition revised to link commissioner jurisdiction to export ports, airports, land customs stations or post offices.
The amendment substitutes Explanation II in Notification No. 42/2001 CE(N.T.) to provide that "Maritime Commissioner" means the Commissioner of Central Excise under whose jurisdiction one or more of the port, airport, land customs station or post office of exportation is located, under the powers of sub rule (3) of rule 19 of the Central Excise Rules, 2002.

Maritime Commissioner definition clarified: Commissioner jurisdiction linked to presence of port, airport, land customs station or export post.
Substitution of Explanation III in Notification No.40/2001-C.E.(N.T.) redefines Maritime Commissioner as the Commissioner of Central Excise whose jurisdiction includes one or more of the port, airport, land customs station or post office of exportation, effected under rule 18 of the Central Excise Rules, 2002 by Notification No.79/2003-CE(N.T.).

Deduction under Section 35AC: specified projects and institutions qualify subject to prescribed conditions for tax deduction.
Approval is granted for specified institutions and projects as eligible for deduction under Section 35AC, with each entry listing project description, estimated cost and the maximum deductible amount. Approvals are generally limited to three assessment years, may include corpus funds, and are subject to conditions such as prohibition on recouping trustee loans from donations, certification on use of government grants, and display of public notices about free or concessional benefits.

Amendment to import classifications: specified ITC (HS) items delisted following withdrawal of prior steel public notices.
Amendment adds Note 2 to Appendix III of Schedule I of the ITC (HS) Classifications, recording withdrawal of earlier steel public notices and deleting the import items listed at serial numbers 77 to 109, effected under the Foreign Trade (Development and Regulation) Act.

Exchange Rate Determination fixes official currency conversion rates for export goods, superseding the prior customs notification and taking effect immediately.
Determination fixes official conversion rates between listed foreign currencies and Indian rupees for export goods, superseding the prior customs exchange rate notification. Schedule I prescribes per-unit rates for specified currencies and Schedule II prescribes the rate per one hundred units for the Japanese Yen, these rates to be used for export-related customs calculations under the authority of the Customs Act.

Exchange Rate Determination sets customs conversion rates for specified foreign currencies, effective from 1 November 2003.
Determination fixes exchange rates for converting specified foreign currencies into Indian rupees for customs valuation of imported goods, effective 1 November 2003, superseding the prior September 2003 notification. Two schedules accompany the determination: Schedule I lists unit conversion rates for major currencies, and Schedule II provides the rate per 100 units for Japanese Yen; those schedule entries are the operative rates for import-related customs calculations.

Purpose of Remittance amendment limits remittance purpose to payments for imports via ocean transport, altering remittance scope.
Amendment adds the words "through ocean transport" after "Payment of import" in item 4 of Schedule II to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, thereby limiting that purpose of remittance to import payments effected via sea transport; enacted by the Central Government under FEMA following consultation with the monetary authority and effective on publication in the Official Gazette.

Multilateral Development Bank access to Government securities permitted, with payment and repatriation conditions under RBI approval.
A Multilateral Development Bank specifically permitted by the Government of India to float rupee bonds may purchase Government dated securities. Payment for such purchases must be by inward remittance through normal banking channels or from funds in an account opened with specific Reserve Bank of India approval. On sale or maturity, the net proceeds after tax may be remitted abroad or credited to a fund account opened with prior RBI permission.

Excise concession for processed textile finishes: Nil duty for pleated, embossed and dew drop fabrics where duty already paid.
Amendment adds two tariff entries exempting from excise duty pleated or embossed fabrics and fabrics subjected to the dew-drop process when manufactured from processed fabrics on which the appropriate excise duty has already been paid, recording Nil in the duty columns and inserting these entries after S.No.51 of the principal notification.