Customs exemption for video production equipment, duty capped at a specified ad valorem rate and additional duty waived subject to certification.
The Central Government exempts specified goods within Chapter 84, 85 or 90 imported for initial setting up of a video software generation unit from customs duty in excess of the rate calculated at eighty per cent ad valorem and from the whole of the additional duty under section 3, subject to certification by an officer not below the rank of Joint Secretary in the Ministry of Information and Broadcasting that the goods are required for initial unit set up and recommend the exemption.

Corporate membership eligibility for stock exchanges requires director-shareholder majority and unlimited liability; government may permit specified corporations.
Amendment prescribes that a company is eligible for election as a stock exchange member only if it is lawfully formed, a majority of its directors are shareholder-members of that exchange, and the directors who are exchange members have unlimited liability; the Central Government may recommend relaxation permitting admission of specified public financial corporations, insurance and development institutions, certain registered companies and subsidiaries engaged in merchant banking or securities dealing.

Exemption for glass and glassware: government directs excise duties need not be paid where prior practice saw non-levy.
The Government declares that excise duty and special duty on glass and glassware within the factory of production for further manufacture, which were not levied by prevailing practice during the period commencing on 1st March 1984 and ending on 6th May 1984, shall not be required to be paid in respect of those goods.

Excise exemption for gold potassium cyanide removes duty corresponding to the gold content when used in the electronic industry.
Exemption for gold potassium cyanide manufactured from gold and used in the electronic industry: the Central Government exempts the portion of Central Excise duty equal to the duty attributable to the value of the gold contained in the product, under sub rule (1) of rule 8 of the Central Excise Rules, 1944, as listed in Chapter 28 of the Central Excise Tariff schedule.

Excise exemption for cotton wool and gauze bandages applies when the manufacturer does not sell under a brand name.
Exemption from the whole of the excise duty is provided for absorbent cotton wool, non-absorbent cotton wool and gauze cloth bandages under Heading No. 30.04, provided such goods are manufactured by a manufacturer who does not sell them under a brand name; "brand name" means a name or mark, registered or not, such as a symbol, monogram, label, signature, invented word or writing, used to indicate a trade connection between the goods and some person.

Excise exemption for cinematograph film prints enables duty-free use for government-sponsored foreign festivals, subject to resale duty repayment.
Exemption is granted for prints of cinematograph films under heading 37.06 purchased by the Directorate of Film Festival on behalf of the Government for exhibition in foreign festivals under the Cultural Exchange Programme or Festivals of India, exempting them from the whole excise duty; if the National Film Development Corporation sells or disposes of such films it must within one month intimate the proper officer and pay the duty that would have been leviable, subject to late acceptance for sufficient cause.

Amendment to excise exemption table replaces prior annexed table to notification, listing specified industrial units.
Government, exercising authority under sub-rule (1) of rule 8 of the Central Excise Rules, 1944, substitutes the Table annexed to the first paragraph of Notification No. 1/87-Central Excises (1 January 1987) with a new Table enumerating six specified industrial units: Talcher Unit FCI; Barauni Unit HFCL; Khetri Copper Complex HCL; Madras Fertilizers Limited; Delhi Electric Supply Undertaking; and Damodar Valley Corporation.

Specified debentures designation: transfer benefit requires transferee to notify issuer by registered post within sixty days.
Notification designates certain secured redeemable non-convertible bonds issued by specified public sector companies as debentures for clause (xvie) of section 5(1) of the Wealth-tax Act, 1957, and provides that the benefit on transfer is admissible only if the transferee informs the issuing company by registered post within sixty days of transfer.

Customs warehouse classification: liquid helium gas in containers now falls under the provisions of section 70(2) Customs Act.
Central government specifies that liquid helium gas kept in containers is to be treated as goods to which the provisions of section 70(2) of the Customs Act, 1962 apply when deposited in a warehouse, and accordingly amends Notification No. 122 Customs (11 May 1963) by inserting the words "and liquid helium gas kept in containers" in Item (1) after "diesel oil and furnace oil kept in tanks".

Research approval under section 35(1)(ii) requires separate accounts, annual returns, audited filings and timely renewal.
Approval is granted to Astra Research Centre India, Bangalore, under section 35(1)(ii) as an Association for research-related tax recognition from 1-4-1987 to 31-3-1990, subject to conditions: maintain separate research accounts; furnish annual research returns by 31 May; submit audited accounts, income and expenditure statements and balance-sheet to the prescribed authority, Central Board of Direct Taxes and the concerned Commissioner by 30 June; apply three months before expiry for extension; and separately account for funding from ASTRA Sweden with use of additional Indian receipts only with prescribed authority approval.

Approval under section 35(1)(iii): institution approval conditioned on separate research accounts, annual returns, audited accounts, and renewal timing.
Approval under section 35(1)(iii) for the National Association of Geographers India is subject to maintaining separate scientific research accounts, filing annual returns of research activities by 31st May, and submitting audited annual accounts, income and expenditure statements, and a balance-sheet to the prescribed authority, the Central Board of Direct Taxes, and the Commissioner of Income-tax by 30th June each year.

Specification of HUDCO Capital Gains Debentures under section 54E enables designated investment to qualify for capital gains exemption.
The Central Government, under Explanation 1(d) to sub section (1) of 54E of the Income tax Act, specifies the three year HUDCO Capital Gains Debentures as a qualifying instrument for the purposes of that clause, thereby identifying that security by name as an eligible form of investment for the provision's treatment.

Exemption notification under section 10(23C)(v): Jamshedpur Diocesan Corporation notified for certain assessment years by Central Government
The Central Government, exercising powers under clause (v) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies an organization under section 10(23C)(v) as eligible for that clause for specified assessment years, recording the notification number and the assessment years covered and thereby defining the period of recognition for tax exemption purposes.

Notification under section 10(23C)(v) recognizes Samastha Kerala Jem-Iyyathul Ulema for tax exemption in assessment year 1987 88.
The Central Government, exercising powers under clause (v) of sub section (23C) of section 10 of the Income tax Act, notifies Samastha Kerala Jem-Iyyathul Ulema (Kerala) under that clause for the specified assessment year, formally designating the association within the statutory category addressed by section 10(23C)(v).

Research institution approval enables tax recognition subject to annual reporting, audited accounts, and timely renewal conditions.
The Goa Cancer Society was approved as a research Institution for tax purposes for 1 April 1987-31 March 1988, subject to conditions: maintain a separate account for research receipts; file annual returns of research activities by 31 May; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June; and apply to the Central Board of Direct Taxes at least three months before expiry for extension, with late applications liable to rejection.

Tax exemption notification under 10(23C)(iv) recognizing Indira Gandhi National Centre for Arts for specified assessment years.
Notification designates Indira Gandhi National Centre for Arts as qualifying under section 10(23C)(iv) of the Income-tax Act, the Central Government exercising clause (iv) of sub-section (23C) of section 10, and limits recognition to the assessment years specified in the instrument.

Auxiliary duty amendment alters customs exemption schedule by omitting an entry and inserting a notification reference.
The Central Government amends Notification No. 207/87-Customs under powers conferred by the Customs Act and the Finance Act by omitting S. No. 132 from the Schedule and inserting, after S. No. 295, a new entry referencing Notification No. 277-Customs dated 13-7-1987, thereby modifying the miscellaneous exemption notifications list.

Coking coal import exemption removes customs and additional duties on qualifying low-ash shipments until the notification's expiry.
The Central Government exempts imported coking coal that meets a low ash content criterion, within the customs tariff classification, from the customs duty specified in the Tariff Schedule and from the additional duty otherwise leviable; the exemption is time limited and remains in force only until the notification's stated expiry date.

Excise exemption for goods made in mine workshops permits duty-free manufacture when intended for repair or maintenance use.
Goods in the Central Excise Tariff Schedule manufactured in workshops within the precincts of mines and intended for use in repair or maintenance of machinery used in mines are exempt from the whole of excise duty leviable under the Schedule, and "mines" adopts the statutory meaning from the Mines Act for determining scope.

Notification under section 10(23C)(iv) recognizes tax-exempt status for Indian Dairy Corporation for specified assessment years.
The Central Government, under clause (iv) of sub section (23C) of section 10 of the Income tax Act, notifies Indian Dairy Corporation for the purposes of that clause for the assessment years 1985-86 and 1986-87, thereby declaring the entity within the statutory category specified by the provision for those assessment years.