Captive consumption: redefined inputs exclude machinery and certain packaging, narrowing scope of exemption.
The amendment revises the definition of inputs for the captive consumption exemption: excluding machinery and plant used in production or processing; excluding packaging materials for which an exemption equal to excise duty is availed for packaging final products; and excluding packaging materials or containers whose cost is not included in the assessable value of final products under the Central Excises and Salt Act. The Schedule to the principal notification is also substituted to list specific prior notifications and entries retained for the exemption framework.

Avoidance of double taxation: treaty allocates taxing rights, residence rules, permanent establishment and information exchange protections.
Agreement creates a bilateral framework to avoid double taxation and prevent fiscal evasion by allocating taxing rights, defining residents and permanent establishment, and prescribing methods for elimination of double taxation. It specifies source and residence rules across categories of income-business profits, immovable property, shipping and air transport, dividends, interest, royalties, capital gains and personal services-provides non discrimination protections, a mutual agreement procedure for treaty disputes, and confidential exchange of information subject to domestic law limits.

Section 35AC exemption extended for Social Action for Manpower Creation projects, qualifying construction and maintenance for further assessment years.
The Central Government specified the Social Action for Manpower Creation project - comprising construction of six balsadans, maintenance of sixty orphans and destitute children, and construction of a vocational training centre at Village Bhaje, Taluk Maval, District Pune - as an eligible project under Section 35AC, and, following a National Committee recommendation that the project is being properly executed, extended that specification for a further three assessment years commencing from assessment year 1996-97, with the notification recording the estimated project cost.

Section 35AC exemption extended for World Memorial Fund TB mobile teams, project specified for additional assessment years.
The Central Government specifies continuation of tax exemption eligibility for the World Memorial Fund T.B. Project-four mobile teams in Sikkim, Himachal Pradesh, Surat and Delhi of the Memorial Fund for Disaster Relief India-at an estimated cost of forty lakhs forty-one thousand six hundred, as an eligible project for a further three assessment years commencing from the assessment year 1996-97, following the National Committee's recommendation under the Income-tax Rules.

Exemption under section 35AC: girls' hostel project specification extended, continuing donor tax benefits after committee recommendation.
The Central Government specified the Priyadarshini Girls Hostel of Vanvasi Kalyan Kendra at Talasari, Thane District as an eligible project or scheme for tax exemption; following the National Committee's recommendation that the project is being properly executed and may extend beyond two years, the Government extended the project's specification for a further two assessment years, thereby continuing the period during which contributions qualify for the statutory exemption under the governing rules and explanation to the tax provision.

Tax exemption eligibility under section 35AC extended for specified Kachchh development project following regulatory recommendation.
Central Government specified the water harvesting, integrated water management, afforestation, horticulture, irrigation and employment generation project in Kachchh for the rural poor of Vivekanand Research and Training Institute as an eligible project or scheme under the clause (b) of the Explanation to the provision for exemption under section 35AC; the National Committee recommended continuation on finding proper execution and the specification is extended for a further three assessment years commencing from the assessment year 1996-97, with the project components identified and an estimated project cost recorded.

Exemption under section 35AC extended for construction of a community care and research centre as an eligible project.
Construction of a community care and research centre at Miraj by Sanjeevan Medical Foundation is specified as an eligible project or scheme for income-tax exemption; the National Committee recommended, upon satisfaction with project execution and its likely extension beyond the initial period, that the Central Government extend the specification for a further three assessment years commencing from the assessment year 1996-97, with the notification recording the project's estimated cost.

Exemption under section 35AC extended for an integrated rural development project, prolonging its eligible status for additional assessment years.
Approval under section 35AC is made for the integrated rural development project of Jankidevi Bajaj Gram Vikas Sanstha at District Pune as an eligible project or scheme for income-tax exemption purposes. The Central Government, on the National Committee's recommendation under rule 11M, specifies the project for a further three assessment years commencing from the assessment year 1996-97, recording the project's estimated cost.

Section 80L specification: taxable government specified bonds designated as eligible under the income tax provision for subscribers.
Central Government specifies a named series of taxable bonds issued by a public corporation, identifying series, tenor, coupon characteristic, issuing entity, distinctive serial range, individual bond face value and aggregate issue size, and declares the issue specified for the purposes of the income tax provision enabling tax consequences for subscribers.

Customs exemption for edible oils applies when donated as a gift or supplied under a government approved agreement.
Exemption from customs duties is provided for edible oils and materials from which edible oil can be extracted when such goods are donated free of cost as a gift or supplied under an agreement duly approved by the Government of India, removing applicable basic and additional duties subject to those conditions.

Excise amendment adjusts duty rates for polyester filament yarn, distinguishing draw-twisted/textured varieties from non-textured supply.
The Central Government amends Notification No. 36/95 Central Excises by substituting the Table to prescribe distinct excise charges per kilogram for two categories of polyester filament yarn: plain filament yarn (other than draw twisted or textured) and polyester filament yarn that is draw twisted or textured, effecting a change in tariff treatment through table substitution under statutory authority.

Excise exemption for twisted filament yarns applies where upstream excise or additional duty has already been paid.
The amendment inserts two conditional Nil duty entries for twisted polyester and twisted nylon filament yarns (excluding double or multifold, including cabled yarn and sewing thread) which apply only when such yarns are manufactured out of textured or draw twisted yarns falling within the schedule and on which the appropriate excise duty or, as applicable, the additional duty under the Customs Tariff Act has already been paid.

Customs duty exemption for specified imports from Sri Lanka limits excess duty to specified ad valorem rates.
Central Government exempts specified goods imported from Sri Lanka from that portion of customs duty which exceeds an amount calculated at the ad valorem rates set out in the annexed Table. The exemption applies to goods falling within the listed Chapter, heading or sub heading entries of the First Schedule to the Customs Tariff Act, 1975, and limits payable duty to the amount computed at the corresponding rate in the Table.

Exclusion of Negative List imports narrows applicability of exemption for EOU, FTZ, EHTP and STP goods sold domestically.
The amendment provides that the notification exempting goods of 100% EOU, FTZ, EHTP and STP when sold in India shall not apply to goods specified in the Negative List of Imports in Chapter XV of the Export and Import Policy for the period 1 April 1992 to 31 March 1997.

Specification of Foreign Institutional Investors: listed SEBI-registered sub-accounts are recognised for purposes of section 115AD tax classification.
The Central Government, under the Explanation to section 115AD of the Income-tax Act, specifies named SEBI-registered Foreign Institutional Investors acting as sub-accounts of other registered FIIs. The notification lists each sub-account together with its global custodian details, thereby identifying those entities as recognised for the purposes of the referenced tax provision.

Imports for export promotion: amended notifications narrow exemption eligibility and exclude certain goods from select export schemes.
Amendment substitutes specified provisos, conditions and paragraphs in eight named customs exemption notifications under the exercise of powers under section 25 of the Customs Act, 1962, thereby altering the scope of exemptions for imports for export promotion. It expressly bars importers from claiming the exemption for goods under heading 98.01 and from claiming exemptions under any Export Promotion Scheme other than the Export Promotion Capital Goods scheme permitting import of capital goods at the concessional ad valorem rate specified in Notification No. 160/92-Customs.

Customs exemption amendment: limits benefit to advance licences and issuances issued on or before a specified cutoff, narrowing eligibility.
Amendment confines the applicability of Notifications 203/92, 204/92 and 205/92 by substituting their first-paragraph references to licences or issuances with versions qualified to apply only to licences or issuances "issued on or before 31st March, 1995," thereby imposing a temporal eligibility cutoff for the stated customs exemptions.

Exemption from customs duty: goods imported to execute export orders exempt subject to conditions, re export and bond requirements.
Exempts goods imported to execute export orders from customs duty and additional duty, provided they are imported for jobbing, repair, servicing, restoration, reconditioning or renovation and, together with resultant products, are re exported to the supplier within six months (or extended period allowed by the Assistant Collector). The exemption requires goods not be sold or otherwise disposed of, a minimum FOB uplift on resultant exports over CIF of imports, and execution of a bond with security to pay duties if conditions are breached; certain tooling may be retained on duty payment without depreciation with prior policy permission.

Customs duty exemption for imports under Advance Licence conditioned on DEEC coverage, bond, port rules and export obligation discharge.
Customs duty exemption applies to materials imported under Quantity Based Advance Licences issued on or after 1 April 1995 when covered by a Quantity Based Duty Exemption Entitlement Certificate issued in the prescribed form; conditions include production of the licence and certificate at customs clearance, execution of a bond or security (unless export obligation discharged), specified port/depot clearance, utilisation of imports only for discharge of export obligation, transferability only with endorsement, and discharge of export obligation within certificate period or approved extension, with interest and duty consequences on default.

Duty exemption for imports under Value Based Advance Licence contingent on DEEC compliance, bonds, use restrictions and export fulfilment.
Exemption from basic customs duty applies to materials imported against a Value Based Advance Licence and covered by a Value Based Duty Exemption Entitlement Certificate issued on or after 1 April 1995, subject to production of the licence and DEEC at customs clearance, bond and security requirements with specified interest for non-compliance, use restrictions until export obligation discharge, permitted ports/depots for trade, procedural proof of fulfilment to customs authorities within prescribed timeframes, and transferability rules for DEECs with stated exceptions.