Powers under section 120: Chief Commissioners in Schedule II to exercise all Income-tax Act powers for PAN applicants.
Chief Commissioners of Income-tax in column (2) of Schedule II are directed under Section 120 to exercise all powers and perform all functions under the Income-tax Act for persons who applied for Permanent Account Number on or after 1 July 2003 and who are otherwise assessable by the Income-tax authorities specified in column (4) of that Schedule.

Customs exemption amendment expands coverage to include export of other goods manufactured by the importer.
The amendment modifies the Explanation to Notification No.55/2003-Customs by changing the proviso to sub clause (i) of clause (4): replacing wording in item (d) to append an additional connector to the reference to Import Policy and inserting a new item (e) to expressly include export of other goods manufactured by the importer within the notification's exemption.

Export realisation and repatriation exemption: SEZ exports relieved from specified repatriation period under amended FEMA regulations.
Regulation 9 is amended to exempt Special Economic Zone units from the stipulated period for realisation and repatriation of full export value of goods or software; clause (2)(a) has the SEZ reference removed and clauses (2)(b) and (2)(c) substitute 'the said exporter/s' for 'unit'.

Payment in precious metals permitted for SEZ and EOU gem and jewellery exports where contract and declaration requirements are met.
The Reserve Bank amended the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 to permit receipts in the form of precious metals (gold, silver, platinum) equivalent to the value of jewellery exported by Gem & Jewellery units in Special Economic Zones and Export Oriented Units, provided the sale contract so provides and the value is declared in the relevant GR / SDF / PP forms.

Electronic filing of tax-deduction returns requires prescribed data formats, intermediary validation, and deemed acknowledgement upon provisional receipt.
The Scheme prescribes that e-deductors must prepare E-TDS Returns in prescribed forms and data structures, include required account numbers, submit returns on labelled computer media or via designated server with Form No. 27A, and provide compression software if used; E-TDS Intermediaries validate, upload and transmit data, issue provisional receipts which may be deemed acknowledgements subject to deficiency procedures, and retain electronic records for one year while ensuring confidentiality and compliance.

Electronic filing of TDS returns required to follow Board-specified scheme and be submitted with accompanying Form.
Electronic submission is required where persons deducting tax under Chapter XVII-B must file returns or statements on computer media; such filings must follow a scheme specified by the Board, be delivered within the time prescribed by the relevant rules, contain all information required by those rules, and be accompanied by the prescribed Form No. 27A, which is substituted in the appendix.

Deduction documentation: new requirement to file Form 56FF with income-tax return to claim specified deduction.
Requires assessees claiming the deduction under clause (b) of sub-section (1B) of section 10A to furnish prescribed particulars with their return of income in the prescribed format, and prescribes Form No. 56FF as the format to be inserted in Appendix II of the Income-tax Rules.

Anti-dumping duty on sun and dust control polyester film from specified countries; provisional duties applied pending final determination.
Provisional anti-dumping duty is imposed on Sun and/or Dust Control Polyester Film (Chapter sub-heading 3920 69) following a Designated Authority finding of dumping from UAE and Taiwan causing material injury; duties are set as the difference between specified US dollar amounts per kilogram and the assessable landed value, payable in Indian currency, with calculation using the Ministry of Finance exchange rate on the bill of entry date, and effective up to and inclusive of 25 February 2004.

Exchange rate determination for export goods: notified conversion rates effective replacing prior notification for currency conversion.
The Board, under powers conferred by the Customs Act, 1962 and superseding the earlier notification, determines exchange rates for conversion of specified foreign currencies into Indian rupees for export goods, effective from 1st September, 2003; Schedule I sets rates per one unit for listed currencies and Schedule II sets the rate per 100 units for Japanese Yen.

Exchange rate determination for customs: specified currency conversion rates govern valuation of imported goods from September.
The Board, under the Customs Act, determines and fixes specific foreign-currency-to-Indian-rupee conversion rates for imported goods, superseding the prior notification; these operative rates, set out in Schedule I (per-unit rates) and Schedule II (per 100 units for Japanese Yen), apply for customs valuation with effect from 1st September, 2003.

Special economic zone designation confirms Sitapura area as specified land for SEZ purposes under central excise powers.
Specifies Sitapura as a special economic zone under powers conferred by the proviso to sub section (1) of section 3 of the Central Excise Act, 1944, identifying Sitapura SEZ at Jaipur, Rajasthan, with a total area of 8.70 hectares comprising parcels in Dehlavas (7.07 hectares) and Sheopur (1.63 hectares) and listing the relevant khasra numbers for the land.

Special Economic Zone designation: Indore SEZ specified with defined territorial parcels and perimeter boundaries.
The Central Government, under the proviso to sub section (1) of section 3 of the Central Excise Act, designates Indore Special Economic Zone at Indore, Madhya Pradesh as a special economic zone, specifying its aggregate area and defining its territorial extent by district, village, patwari halka numbers and detailed survey numbers, and delineating its external boundaries by named adjoining localities.

Anti-dumping duty: exemptions for certain Chinese exporters removed and tariff schedule amended to impose duties on lead-acid batteries.
The Central Government amended Notification No. 1/2002-Customs dated 2nd January, 2002 by substituting the entry for S. No. 1 in Table II to impose anti-dumping duties on lead acid batteries from the People's Republic of China; the substituted entry specifies duties applicable to industrial and specified automotive battery categories and applies to all exporters / manufacturers, reflecting a corrigendum issued by the designated authority and the Tribunal's order setting aside earlier exemptions.

Excise duty exemption for NE region units: capped duties with mandatory reinvestment, certification and a ten-year lock-in requirement.
Exemption caps basic, special and additional excise duties for specified Chapter 24 goods produced in eligible units in the seven North Eastern States, exempting duty in excess of the tabulated rates provided units meet commencement, prior-notification benefit and continuity conditions. The differential duty must be reinvested in plant and machinery in an eligible State within prescribed quarterly timelines, evidenced to a three-member Committee which issues certification for submission to the jurisdictional Central Excise Officer. Investments carry a ten-year lock-in or trigger immediate duty liability if withdrawn and not reinvested as required.

Differential duty requirement imposed for imported textile autoconers; notification adds specific mills subject to payable differential duty.
Central Government amends Notification No. 12/99-Customs (NT) by inserting two Annexure entries after S. No. 12 that record the mills, numbers of autoconers imported and the differential duty payable for each named importation, thereby establishing explicit differential duty liability for those entries.

Renewal of recognition to exchange granted subject to compliance with regulatory inspection observations and further prescribed conditions.
SEBI renewed recognition of O.T.C. Exchange of India under Section 4 of the Securities Contracts (Regulation) Act for a further limited period, conditional on the Exchange complying with the observations in the SEBI inspection report dated June 17-20, 2003 as communicated to the Exchange and subject to any further conditions that SEBI may prescribe or impose.

Tax exemption notification conditioned on exclusive application of income, restricted investments, separate business accounts, and return filing.
Notification designates Prajapita Brahma Kumaris Ishwariya Vishwa Vidyalaya as entitled to tax exemption under clause (23C)(iv) of section 10 for assessment years 2003-04 to 2005-06, on conditions that income be applied or accumulated solely for its objects, investments be limited to forms in subsection (5) of section 11 (except specified voluntary contributions), business profits qualify only if incidental with separate books, returns are regularly filed, and surplus/assets on dissolution transfer to a similar charitable organisation.

Central Listing Authority regulations established a centralized listing approval and oversight framework; later repealed.
Establishes the Central Listing Authority under SEBI's powers in the SEBI Act to create a centralized mechanism for listing approvals and oversight, and notes that these 2003 Regulations were later repealed by a subsequent notification.

Investor grievance redressal: SEBI Ombudsman established under the SEBI Act to provide complaint resolution mechanisms.
Establishes a statutory framework creating the office of the Ombudsman under powers conferred by the SEBI Act to receive, consider and facilitate resolution of investor grievances in securities and to govern matters connected with or incidental to the Ombudsman's establishment and functioning within SEBI's supervisory remit.

Exemption for maintenance or repair of computer services removes service tax liability for qualifying customer-facing repairs.
Exemption of service tax is granted for services supplied to a customer by any person relating to the maintenance or repair of computers, computer systems or computer peripherals, thereby excluding such services from the service tax levy under the statute; this exemption was subsequently rescinded by a later notification.