Tax-exempt bonds designated under section 10(15)(iv)(h) confer exemption only when holders register holdings as prescribed.
Central Government designates a specified issue of tax-free secured redeemable non-convertible bonds issued by Power Grid Corporation as falling within item (h) of sub-clause (iv) of clause (15) of section 10, describing the issue by series, distinctive numbers, tenure, interest character and face value. The tax exemption under that item is admissible only if the bondholder registers his name and holdings with the issuer; failure to register renders the benefit unavailable.

Specified bonds under Section 80L gain recognition for tax treatment by Central Government notification, defining eligible instrument series.
Central Government specifies, under clause (ii) of sub section (1) of Section 80L, the 5-year 15 per cent taxable Secured Redeemable Non-Convertible (II Series Issue) Bonds issued by Power Grid Corporation of India Limited, identifying serial numbers B 0000001 to B 2360000 aggregating to the stated issue amount, as the instruments specified for the purposes of that provision.

Customs port appointment allows designated handling of project imports and warranty-related re exports at Dabhol port.
Appointment of Dabhol as a customs port under clause (a) of section 7 of the Customs Act, 1962 authorises unloading of machinery, equipment and fuel imported for the Dabhol Power Project, and authorises loading at Dabhol of imported machinery and equipment for export when such re export is for warranty purposes.

Customs exemption for goods sent for repair: duty relief conditional on section 65 compliance and export requirement.
Specified goods imported for repairs, reconditioning, reengineering, testing, calibration or maintenance (including service) are exempt from the whole of customs duty and the integrated tax under the Customs Tariff Act, subject to (a) the work being undertaken in accordance with section 65 of the Customs Act and (b) the goods, after being repaired or maintained, being exported and not cleared outside the Unit; the exemption applies to listed categories of goods and to goods repaired for export within three years of importation and is subject to the notification's temporal limitation.

Exemption for export linked imports: customs duty relief for goods brought into export zones subject to licence, bond and compliance.
Exemption from customs duty and any additional duty applies to specified goods imported into an Export Processing Zone or Free Trade Zone when used for export production, manufacture, processing (including repair and reconditioning), packaging or export promotion, subject to unit authorisation, import licence, a prescribed bond restricting use and disposal, required record keeping and Development Commissioner satisfaction. The Assistant Collector of Customs may permit re export, temporary removal for repairs or display, and transfers between units subject to conditions, while special provisions address clearance outside the Zone on payment of excise or customs duty and a specific extension covers software development units and on site consultancy exports.

Rescission of exemption: government rescinds prior notification affecting rubber balloons, reinstating central excise charge treatment.
The Central Government rescinds Notification No. 97/94-C.E. (25 April 1994) concerning rubber balloons, withdrawing the prior exemption and restoring the earlier central excise treatment as an administrative measure taken in the public interest by a notification dated 22 June 1994.

Customs duty exemption for goods imported for petroleum operations requires official contract certification and no foreign exchange remittance.
Customs duty exemption applies to goods imported for petroleum operations under contracts between the Government of India, national oil companies and a foreign oil company, subject to a certificate from a Ministry of Petroleum and Natural Gas officer (not below Deputy Secretary) confirming the goods are required for such operations and imported under the specified contract, and an importer certification that no foreign exchange remittance was made for the import. The Table lists the specific categories of goods covered by the exemption.

Customs duty exemption for imports used in petroleum operations, subject to Ministry-issued certificate validating contract use.
The notification exempts specified goods imported for petroleum operations under specified government contracts from customs duty and any additional duty, conditional on production of a certificate from an officer not below the rank of Deputy Secretary in the Ministry of Petroleum and Natural Gas. The exemption covers a listed range of equipment and materials used in exploration, drilling, production, pipeline installation, platform installation and maintenance, including vessels, drilling rigs and equipment, helicopters, specialised service equipment, casings and tubings, chemicals, platforms and associated machinery, line pipes, pipe-laying vessels, pollution-control vessels, stores, spares and oil well cement.

Modvat credit on leased capital goods: conditions require specific documentation and bar depreciation on duty component.
Modvat credit for capital goods acquired on lease, hire-purchase or loan is allowed only if the manufacturer files the rule 57T declaration, produces invoices or agreements evidencing payment of the specified duty and the financing arrangement, or a financier's certificate that the manufacturer paid the duty before the first instalment when financing includes the duty; the duty must represent the whole duty payable, Chapter V procedure must be followed, documents must name both manufacturer and financier, and no income-tax depreciation may be claimed on the duty component.

Credit of specified duty on capital goods allowed when manufacturer acquires them under lease, hire purchase or loan agreement.
Credit of the specified duty paid on capital goods shall be allowed where such capital goods are acquired by a manufacturer on lease, hire purchase or loan agreement, subject to conditions and restrictions specified in a notification issued by the Central Government.

Consumer Welfare Fund amendment updates composition to include senior Rural Development and Bureau of Indian Standards officers.
The amendment substitutes two entries in sub rule (2) of Rule 5 of the Consumer Welfare Fund Rules, 1992: clause (e) is replaced by Secretary/Additional Secretary of the Department of Rural Development, and clause (f) is replaced by Director General/Additional Director General, Bureau of Indian Standards; the Rules commence on publication in the Official Gazette.

Baggage rule amendment: removal of wristwatch value limit and adjusted resident applicability, including foreign residents.
Amendment confines Chapter II of the Baggage Rules to residents arriving from countries other than Nepal or Bhutan while extending rules 4 and 5 to foreign citizens residing in India; it removes the monetary ceiling on wrist watches in rule 4 and replaces Appendix A item 4 with "Alcoholic liquor and wines in excess of one litre each."

Customs duty on baggage: motorcycles, scooters, mopeds and textile fabrics made fully dutiable by amendment.
Notification No. 130/94-Cus dated 15-6-1994 amends Notification No. 136/90-Customs by omitting the entries against item numbers (i) and (iv) in paragraph 2, thereby removing the specified exemption and causing motor cycles, scooters, mopeds and textile fabrics addressed in that paragraph to be subject to the ordinary customs duty regime.

Customs exemption for infantry combat vehicle components extended by notification amendment, maintaining duty-free treatment under the tariff regime.
The Central Government amended an existing customs tariff notification to substitute the prior expiry date in paragraph 2 with a later expiry date, thereby continuing the duty-free treatment of components and accessories of infantry combat vehicles under the original notification while leaving other terms of that notification unchanged.

Exemption for import materials used in manufacture: duty relief subject to licence, endorsements, bond and compliance.
Exemption for materials imported against an import licence or release order on the canalising agency removes whole Customs and additional duty subject to conditions: production of licence at clearance, licence endorsements detailing description, quantity and value of imported and duty-free materials and final goods to be manufactured, exclusive utilisation of materials for manufacture of stated final goods (with a proviso for subsequent use if obligations met), execution of a bond with surety to secure duty liability for non-compliance, evidence of supply of final goods within prescribed time, and specified ports/airports/ICDs for import/export.

Customs exemption timeframe amended, imposing a time-bound condition for imports destined to specified agencies and export zones.
The Central Government amends prior customs exemption notifications by inserting or substituting a deadline phrase into Paragraph 1, condition (1) of Notifications 260/92-Cus, 101/93-Cus and 103/93-Cus, thereby converting licence and import-control references into a time-bound import condition for materials used to manufacture final goods supplied to specified agencies, projects, 100% EOUs and FTZs.

Exemption under section 10(23C)(iv) notified for Institute of Chartered Accountants of India for specified assessment years.
Central Government, exercising the power under sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, has issued a notification recognizing the Institute of Chartered Accountants of India as entitled to the exemption provided by that sub-clause for specified assessment years, thereby conferring exemption status for those assessment periods.

Anti-dumping duty exclusion extended to include People's Republic of China alongside GATT, amending earlier customs notification wording.
Amends the earlier customs notification by substituting the words "General Agreement on Tariff and Trade" with "General Agreement on Tariff and Trade, and People's Republic of China", thereby expanding the anti-dumping duty exclusion to include China alongside the GATT reference under the Customs Tariff amendment authority.

Exemption for export oriented units: duty free import of specified inputs subject to licence, bonds, use, records and conditions.
Customs duty and any additional duty are exempted on specified imported goods used in production, manufacture or packaging of listed export articles by approved hundred percent export oriented undertakings, subject to import licence, Development Commissioner and Assistant Collector bonds/certificates, prescribed use and export obligations for a specified period, maintenance and submission of prescribed accounts, and conditional permissions for re export, temporary removal, or transfer; clearance to domestic locations is subject to payment of duty on depreciated or import value as prescribed, and domestic sale under Export Import Policy attracts excise or equivalent customs duty as applicable.

Rescission of customs exemption notification under the Customs Act withdraws the prior medical equipment exemption.
The Central Government, exercising powers under section 25(1) of the Customs Act, 1962, rescinds Notification No. 66/88 Customs (dated 1 March 1988) relating to medical equipments on the ground that such rescission is necessary in the public interest, thereby withdrawing the earlier exemption notification.