Cost Inflation Index specified; government amends notification to update indexation for capital gains tax calculation.
The Central Government, under the Explanation to the income-tax provision for indexation, specifies the Cost Inflation Index for the financial year commencing 1 April 2000 and ending 31 March 2001 based on the Consumer Price Index for urban non-manual employees, and amends the earlier notification by adding a new table entry identifying that financial year and its Cost Inflation Index.

Rescission of anti dumping notification withdraws prior notification prospectively while preserving past acts.
The Central Government rescinds an earlier government notification issued under the Customs Tariff framework and anti dumping rules, withdrawing its operative effect prospectively while expressly preserving the legal consequences of acts or omissions completed before the rescission.

Anti dumping duty on seamless pipes imposed, with duty calculated as margin over landed import value.
Imposition of anti dumping duty on seamless tubes and pipes under headings 7304.10, 7304.29 and 7304.39 originating in or exported from Russia, Romania, Austria and the Czech Republic. Duty applies to listed categories, grades and exporters and is calculated as the difference between specified per metric ton amounts in the annexed table and the landed value of imports. Legal authority is section 9A of the Customs Tariff Act, 1975 read with rules 18 and 20 of the 1995 Rules; duty effective from the provisional duty imposition date.

Tax exemption under section 10(23C)(vi) notified, subject to regular filing of returns for specified assessment years.
The Central Government notifies The Tiranthanjali Educational, Indore as entitled to exemption under sub-clause (vi) of clause (23C) of section 10 of the Income-tax Act for a specified period, subject to the condition that the assessee will regularly file its return of income before the income-tax authority in accordance with the provisions of the Act.

Tax exemption under section 10(23C)(vi) granted to ASCI subject to regular income tax return filing obligation.
Notification grants The Administrative Staff College of India, Hyderabad recognition under clause (vi) of clause (23C) of section 10 for specified assessment years, subject to the condition that the assessee will regularly file its return of income before the income-tax authority in accordance with the Income-tax Act.

Section 10(23C)(iv) exemption granted to charitable trust subject to income application, investment limits, business-incidental and filing conditions.
Notification grants a tax exemption under section 10(23C)(iv) to His Holiness The Dalai Lama's Charitable Trust for assessment years 1996-97 to 1998-99, provided the trust applies or accumulates income exclusively for its objects, limits investments to forms specified for charitable trusts (except certain tangible voluntary contributions), excludes business income unless incidental with separate books maintained, and files income-tax returns regularly.

Tax exemption notification grants conditional recognition to Small Farmers Agri-Business Consortium requiring exclusive income application and compliance.
Notification admits the Small Farmers Agri-Business Consortium to the tax-exemption category under clause (iv) of clause (23C) of section 10 for specified assessment years, subject to conditions that income be applied wholly and exclusively to its objects, investments comply with modes permitted by sub-section (5) of section 11 (except certain voluntary contributions in kind), business income is excluded unless incidental with separate books maintained, and regular filing of income-tax returns is observed.

Drawback rate amendment revises FOB-based drawback and imposes a per-square-meter maximum cap, effective April.
Amendment to Notification No.31/1999 Customs (NT) substitutes the Table entry for Serial/Sub Serial No. 57.01 so that the drawback is calculated as a percentage of the f.o.b. value subject to a specified maximum per square meter, under the Customs and Central Excise Duties Drawback Rules, 1995, with effect from 1st April, 2000.

Avoidance of double taxation: treaty allocates taxing rights and limits source state withholding on dividends, interest and royalties.
Bilateral Convention allocates taxing rights between India and Portugal to avoid double taxation and prevent fiscal evasion, defining residency and permanent establishment rules, prescribing source state limits on withholding for dividends, interest and royalties when beneficial owners are resident in the other State, attributing business profits to permanent establishments under an arm's length standard, and providing bilateral methods for elimination of double taxation, non discrimination, mutual agreement procedures, exchange of information, collection assistance, entry into force and termination rules.

Drawback rate amendment replaces prior calculation for a specified serial, imposing a fixed f.o.b. percentage effective retroactively.
The Central Government, invoking rules 3, 4 and 5 of the Customs and Central Excise Duties Drawback Rules, 1995, amends Notification No.31/99-Cus(NT) by substituting the entry in column 4 against Serial/Sub Serial No. 57.01 in the annexed Table with a drawback stated as a percentage of the f.o.b. value, effective from the end of December 1999.

National Savings Scheme: amends rules to reference rule 6 for interest rates in specified provisions.
Amends the National Savings Scheme Rules, 1992 by substituting the fixed phrase "interest at the rate of eleven per cent per annum" with "interest at the rate as specified in rule 6" in rule 7(3) and in the proviso to rule 10, centralising interest rate determination in rule 6 and commencing on publication in the Official Gazette under authority of the Government Savings Banks Act, 1873.

Export Notification Requirement: license-free exports to Chemical Weapons Convention states subject to notification and End Use Certificate submission.
Amendments substitute the Notes to Exporter for category 1B and amend 1C to allow exports of specified chemicals to States Parties to the Chemical Weapons Convention without an export licence, subject to notification to designated authorities in the prescribed format, submission of an End Use Certificate, and filing a copy of the bill of entry into the destination State Party with the DGFT; exports to non parties remain restricted and require a licence, and S.No.37 in Appendix 1 of Schedule 2 is deleted.

Customs amendment revises tariff classifications and adds ad valorem duties on specified edible oils, altering import duty treatment.
Amendment under the statutory power in section 25 revises an earlier notification by substituting certain tariff items and inserting two new table entries specifying that edible oils under designated headings and sub headings are to be assessed to customs duty under the First Schedule to the Customs Tariff Act, 1975 at specified ad valorem rates, thereby altering their import duty treatment.

Import exemption for edible vegetable oil permitted for manufacture of vanaspati or refining, subject to specified free fatty acid standards.
Amendment revises the customs exemption entry to allow edible vegetable oil imports for manufacture of vanaspati or for refining, defines vegetable oil by specified free fatty acid content thresholds for different oil types, includes crude palm oil and its fractions of edible grade meeting its threshold, and conditions the hydrogenated vegetable oil manufacture exemption on the importer being a manufacturer with a captive hydrogen generation facility.

Tariff amendments modify import duty rates and introduce quota-based preferential rates and registration conditions for edible oils and related goods.
The notification revises tariff classifications and duty rates for specified edible oils and related goods, establishes a Tariff Rate Quota mechanism requiring an Allocation Certificate from the Agricultural and Processed Food Products Export Development Authority for concessional access, and adds registration and procedural conditions-including Directorate registration and compliance with Customs rules-to qualify imports for lower duties, with technical criteria (free fatty acid content) specified for certain classifications.

Rescission of customs notification: prior anti-dumping notification formally revoked under statutory rule-based authority.
The Central Government, invoking its statutory and rule-based authority relating to anti-dumping assessment and collection procedures, formally rescinds Notification No. 81/97-Customs (published 24 October 1997) by issuing Notification No. 87/2000-Customs dated 8 June 2000, as recorded in the Gazette of India.

Anti dumping duty on acrylic fibre imposed to address below normal value imports from specified countries and protect domestic industry.
Imposition of anti dumping duty on acrylic fibre under Chapter 55 applies to imports originating in or exported from USA, Thailand and Korea RP based on designated authority findings that the product was exported below normal value and caused material injury to the domestic industry; country and exporter specific duty rates are prescribed and the duty remains effective up to and inclusive of a stated date unless revoked or extended.

Anti-dumping duty on Bisphenol-A imposed for imports from European Union and Taiwan, applying to all exporters.
Imposition of anti-dumping duty on Bisphenol-A follows preliminary findings that imports from the European Union and Taiwan were dumped, caused material injury to the Indian industry, and produced cumulative injury; under sub-section (2) of section 9A of the Customs Tariff Act and applicable rules, the Central Government prescribes specified per kilogramme duty rates for all exporters of Bisphenol-A under Chapter 29, effective until the Notification's stated expiry date.

Anti-dumping duty rescission: provisional levy on sodium cyanide withdrawn, preserved only for prior administrative acts.
The Central Government rescinded the prior notification imposing provisional Anti-dumping duty on sodium cyanide under powers granted by the Customs Tariff Act and anti-dumping rules, withdrawing Notification No. 134/99-Customs and preserving actions or omissions taken before the rescission.

Anti-dumping duty on sodium cyanide imposed; imports from designated countries face per-tonne levy, limited exclusions permitted.
Anti-dumping duty is imposed on Sodium Cyanide from the United States of America, European Union, Czech Republic and Korea RP, calculated as the difference between specified per-metric-tonne amounts and the landed value; a limited exclusion applies for Sodium Cyanide manufactured by M/s Tong Suh Petrochemicals Corp Ltd. and exported by M/s Hanwha Corporation, subject to customs verification; the duty is effective from the date of imposition of provisional measures and "landed value" is defined as assessable value under the Customs Act excluding certain tariff duties.