Post Office Monthly Income Account: deposits made on or after 24 April 1992 earn interest at 14% per annum.
Amendment to rule 8(1) of the Post Office (Monthly Income Account) Rules, 1987 provides that deposits made on or after 24th April, 1992 shall bear interest at the rate of 14 per cent per annum, and the amendment comes into force on publication in the Official Gazette.

Warehousing period: goods in bonded warehouses in export processing zones may be supplied to EPZ units or export oriented undertakings.
The notification amends Notification No. 10/92-Cus. (N.T.) by inserting item (7) to permit goods imported and stored in a private or public bonded warehouse located in an Export Processing Zone to be supplied to units in any Export Processing Zone or to any fully export oriented undertaking; the Central Government exercises powers under the Customs Act to make this change and notes that Export Processing Zone bears the meaning in Explanation 2(i) to sub-section (1) of section 3 of the Central Excises and Salt Act, 1944.

Auxiliary duty amendment adds entries to the customs exemption schedule under statutory authority.
The Central Government, exercising powers under sub-section (1) of section 25 of the Customs Act, 1962 read with a clause of the Finance Bill, 1992, amends Notification No. 122/92-Customs by inserting two new serial entries after S. No. 298 in the Schedule, each referring to a distinct Customs notification and date, thereby adding those notifications to the exemption Schedule.

Exemption of import duty for components under EPCG scheme subject to licence compliance, bond, accounts and certification requirements.
Components imported by a manufacturer for manufacture of capital goods to be supplied to an EPCG licence-holder are exempt from customs duty in excess of 15% ad valorem and from additional duty under section 3, provided imports are under the specified licence, the licence states description/quantity/value of components and capital goods, the importer complies with Policy requirements, and executes a bond undertaking use for supply, maintenance of accounts, production of a supply certificate within three months (or extended period), and payment of duty if conditions are breached.

Customs duty relief on capital goods under EPCG scheme contingent on fulfilment of export obligations and compliance.
Exemption is granted for capital goods imported under the EPCG scheme from so much of customs duty in excess of a prescribed residual ad valorem rate and from all additional duty, subject to production of a valid EPCG licence, a certificate of bond execution from the licensing authority, a declaration to pay duty if conditions are not met, compliance with defined export obligation multiples and periods, and applicable extensions or condonations as per public notices.

Customs port designation: a port authorized to permit unloading for ship breaking and crew baggage under the Customs Act.
The Central Government, exercising its statutory appointment power under clause (a) of section 7 of the Customs Act, designates the port to be a customs port for the purpose of unloading of ships for ship breaking and for handling crew baggage, thereby subjecting those unloading activities to customs control.

Income-tax certificate proceedings: copying fees set at Re.1 per page; urgent supply attracts Rs.4 per document.
The amendment replaces rule 58 to charge copying fees at Re. 1 per page except where copies are free, and establishes an additional urgent-supply fee of Rs. 4 per document payable alongside the per-page fee; rule 59(1)(a) is amended to increase the fee specified there from seventy-five paise to Rs. 2. The changes take effect from 1 May 1992.

Customs duty exemption for courier imports caps chargeable duty and excludes specified consumer electronics and controlled goods.
Exemption limits customs duty on specified tariff heading goods imported through a registered courier service to an amount not exceeding 105% ad valorem, subject to a per consignment value ceiling and excluding enumerated categories such as firearms, alcoholic beverages, tobacco, most consumer electronics, major household appliances, personal computers, and certain office machines; registered courier service means an operator authorised under foreign exchange law and registered with the Collector of Customs at the port of importation.

Baggage exemption expanded to include goods imported through courier service under amended customs notification rules.
Amendment inserts a new entry (V) in para 2 after Sl. No. (IV) of Notification No. 136/90-Customs, adding goods imported through a courier service to the baggage exemption list under the powers of sub-section (1) of section 25 of the Customs Act, 1962.

Customs exemption threshold for commercial samples and prototypes increased, revising the prescribed exemption limit under Customs Act.
Amendment to the customs exemption for commercial samples and prototypes substitutes the previously prescribed amount of rupees two hundred with rupees one thousand three hundred throughout Notification No. 33/86-Cus, thereby raising the exemption limit applicable to imports of such commercial samples and prototypes without changing other terms of the original notification.

Land Customs Station designation enables clearance of goods by land to and from China via a specified route.
Appointment under clauses (b) and (c) of section 7 of the Customs Act, 1962 designates Gunji under the jurisdiction of the Collector of Customs (Preventive), Patna, as a Land Customs Station for clearance of goods imported from or exported to China, and specifies the land route between Gunji (Pithoragarh district) and Pulan (Tibet Autonomous Region) as the sole route by which such goods may pass by land.

Manufacture in Bond: polyester sewing thread and polyester spun yarn included for processing from non-duty paid goods.
The Government amends Notification No. 53/59-Central Excises by inserting a new table entry specifying Polyester Sewing Thread and Polyester Spun Yarn as goods eligible for manufacture in bond of articles from non-duty paid goods under the Central Excise Rules, 1944.

Customs service fees amended: designation-based schedule instituted, with differentiated rates for night and holiday duties.
Amendment substitutes a new designation-based fee schedule for services by customs officers, setting differing hourly fees by officer category and by time bands (day, night, Sundays and holidays). Made under delegated rulemaking powers, the regulations state they come into force on publication in the Official Gazette and replace the table appended to the 1968 Regulations with the prescribed fee structure for specified classes of customs personnel.

Double taxation avoidance: India-Brazil treaty allocates taxing rights, defines residence and permanent establishment, and provides information exchange mechanisms.
Convention creates a bilateral framework under section 90 to avoid double taxation and prevent fiscal evasion between India and Brazil, applying to residents and specified national taxes; it defines residence and key terms, allocates taxing rights across categories of income (including business profits, immovable property, dividends, interest, royalties and capital gains), sets permanent establishment and agency rules, prescribes withholding ceilings for certain passive incomes, establishes elimination of double taxation methods, a mutual agreement procedure, and an exchange of information clause subject to confidentiality and domestic law limits.

Duty computation for irregular marble slabs: option to treat block volume as equivalent area for slab duty calculation.
The amendment permits a manufacturer clearing irregularly shaped marble slabs to elect to discharge duty by treating one cubic metre of marble blocks as equivalent to thirty square metres of marble slab, with block volume determined by reference to the maximum length, width and height of the block.

S.S.I. exemption amendment preserves prior clause(a) relief and widens recognised agencies for exemption eligibility.
Amendment to the S.S.I. exemption notification replaces paragraph 4's second proviso so clause (b) will not apply where a manufacturer has previously availed exemption under clause (a); omits the proviso to paragraph 5; and expands paragraph 7's list of recognised agencies to include the National Small Industries Corporation and the State Small Industries Development Corporation.

Extension of exemption for photographic equipment by substituting the notification expiry date, maintaining existing tariff relief.
Amendment extends the validity of a customs exemption for photographic cameras and lenses by substituting the expiry date in Paragraph 2 of the earlier notification, continuing the existing exemption regime for the specified goods for an extended period without altering its scope, conditions, or procedures.

Gold wastage allowances permit specified allowable losses during jewellery manufacture subject to Assistant Collector approval and conditions.
Amendments substitute conditions in specified customs exemption notifications to authorize the Assistant Collector of Customs, subject to conditions he may specify, to allow percentage losses of gold during manufacture of different categories of jewellery. The substituted provisions categorize jewellery as plain unstudded articles meeting a minimum value addition threshold, studded articles with graded value addition bands, and mountings and findings, and prescribe corresponding allowable gold wastage for each category.

Exemption under section 35AC: project specification enables tax benefit for specified medical units in Andhra Pradesh.
Specification under the explanatory clause to section 35AC designates the Sri Sathya Sai Medical Trust, Anantpur project for establishment of Urology and Nephrology, and Neurology units in the Speciality Hospital at Prasanthi Nilayam as an eligible project for tax exemption purposes, following Central Government action on the National Committee's recommendation.

Age limit for SEBI leadership: Chairman capped at 65 years and Members capped at 62 years.
The amendment replaces the proviso to rule 3(2) to provide that the Chairman shall not hold office after attaining the age of sixty-five and a Member (other than the Chairman) shall not hold office after attaining the age of sixty-two, and states that the rules come into force on publication in the Official Gazette, enacted under the ordinance power cited.