Specified Authority for sick company amalgamations: the industrial reconstruction board is designated for applicable tax conditions.
The Central Government specifies the Board for Industrial and Financial Reconstruction as the Specified Authority under section 72A of the Income-tax Act, 1961. The designation applies to amalgamations of sick industrial companies with other companies under the Sick Industrial Companies (Special Provisions) Act, 1985, for the relevant conditions governing such amalgamations, and partially modifies an earlier notification.

Drawback eligibility for exports to Nepal limited by payment, product and routing conditions; bank certificate and specific land ports required.
The amendment excludes certain exports to Nepal from the customs exemption except where goods are exported under claim for drawback either against irrevocable letters of credit in freely convertible currency established by Nepalese importers in favour of Indian exporters, or where specified capital goods are exported against a global tender by the Nepalese government with payment in Indian currency, subject to a bank certificate of payment receipt and, for land exports, routing only through Jogbani, Nautanwa or Raxaul land customs stations.

Excise duty exemption for body-built motor vehicles aligning levy with prevailing practice and excusing excess payment.
Exemption relieving excess excise duty on body-built motor vehicles manufactured from chassis on which excise duty had been paid but no credit taken, directing that the portion of duty in excess of what would have been payable under the prevailing practice need not be paid in respect of vehicles short-levied during the specified period.

Export under bond allowed for capital goods to Nepal upon bond execution, bank payment certificate, and procedural compliance.
Amendment allows export of specified capital goods to Nepal under bond when exported against a global tender and payment is received in Indian currency, provided the exporter executes the bond and follows Appendix II procedure and furnishes a bank certificate of full payment; upon receipt of that certificate and satisfaction of bond conditions the Collector shall discharge the exporter of bond liabilities.

Excise duty exemption for missile systems equipment requires an authority certificate and verification before clearance and use.
Equipment and stores intended for use in systems and sub-systems of the Integrated Guided Missiles are exempt from the whole of the excise duty specified in the Central Excise Tariff Schedule, subject to production of a certificate from the programme authority confirming intended use, further evidence as required by the proper officer to verify actual use, and adherence to Chapter X procedures when use occurs outside the factory of production.

Exchange rate amendment: substitution of Swedish kroner entry alters the conversion rate applied for customs valuation.
Amendment substitutes the Schedule entry for Swedish Kroner in Notification No. 329-Cus., replacing Serial No. 15 with a revised exchange rate for use in customs valuation and related tariff and stamp calculations. The change is effected under the Indian Stamp Act and the Customs Act and is effective from 12-12-1987.

Central Excise duty rates revised for fabrics based on width, fibre composition and value per square metre.
Substitutes a new Table revising Central Excise treatment for specified fabrics by classifying them according to width, fibre composition and value per square metre, and prescribing corresponding excise rates per square metre; issued under rule 8(1) of the Central Excise Rules, 1944 read with section 3(3) of the Additional Duties of Excise (Goods of Special Importance) Act, 1957.

Exemption of additional excise duty for man-made staple fibre fabrics where production follows an approved pricing programme.
Notification exempts fabrics of man-made staple fibres under Headings 55.11 and 55.12 from additional excise duty insofar as it exceeds the amount computed at the rate of 50 paise per square metre, provided manufacture occurs under a programme approved by the Textile Commissioner and a Joint Secretary in the Ministry of Textiles and where maximum ex-factory prices are fixed under that programme; the exemption also covers defined fents, rags and chindies arising in manufacture up to an aggregate limit of eight per cent of clearances.

Effective rate cap on additional excise duty for knitted or crocheted man-made fabrics limits duty liability to a prescribed rate.
Notification limits additional excise duty on knitted or crochetted fabrics of man made textile materials under sub heading 6001.12 by exempting any duty in excess of the amount calculable at the prescribed effective rate per square metre, thereby capping liability under the Additional Duties of Excise (Goods of Special Importance) Act for goods classified at that tariff entry.

Omission of Excise Rule 56B: rule to be omitted effective 10 March 1988, with savings for prior acts.
The Central Excise (9th Amendment) Rules, 1987 omit Rule 56B of the Central Excise Rules, 1944, with a specified commencement date for the omission and a savings provision preserving things done or omitted prior to that date.

Rescission of central excise amendment restores prior regulatory position, withdrawing the 1987 rule change.
The central government rescinds a previously issued amendment to the Central Excise Rules from 1987, nullifying that regulatory change and restoring the prior regulatory position under the executive power granted by the central excise statute; the notification formally withdraws the amendment affecting excise tariff administration and miscellaneous exemptions for semi finished goods.

Modvat credit restriction on paper and paperboard limits admissible input duty credit to actual duty or a statutory per tonne cap.
The amendment restricts the credit of excise duty and special excise duty on inputs of paper and paperboard used in the manufacture of final products in India to the lesser of actual duty paid or a prescribed per tonne ceiling, while excluding specified tariff categories and paper produced in free trade zones or by one hundred percent export oriented undertakings from that restriction.

Tax exemption under section 10(23C)(iv) notifies Sardar Vallabhbhai Patel Memorial Society for specified assessment years.
The Central Government notifies Sardar Vallabhbhai Patel Memorial Society, Ahmedabad as eligible under clause (iv) of sub-section (23C) of section 10 of the Income-tax Act for the assessment years specified in the notification, exercising the powers conferred by that clause and recording the society's statutory tax recognition for the stated period.

Tax exemption under section 10(23C)(iv) confirms notification of a public pollution control board's charitable status.
Notification under the Income-tax Act confers tax-exempt recognition on a public pollution control board by invoking clause (iv) of sub-section (23C) of section 10, with the Central Government formally notifying the board for the specified assessment years and recording the notification reference for administrative and compliance purposes.

Customs exemption amendment expands exempted goods to add palm kernel alongside groundnut seeds under existing notification.
Amendment to a customs exemption notification substitutes the enumerated goods to include palm kernel in the exemption list by replacing the words "and groundnut seeds" with "groundnut seeds and palm kernel", thereby extending the scope of the existing exemption under the relevant statutory power.

Ad valorem rate reduction modifies the applicable customs exemption under an amended notification, altering concession scope.
The Central Government amends Notification No. 86/80-Customs to substitute the figures and words "65 per cent ad valorem" with "45 per cent ad valorem," thereby reducing the rate-based customs concession for caprolactam under the earlier notification.

Tax exemption notification under section 10(23C)(iv) recognizes a trade body for a specified assessment year.
The Central Government, exercising powers under clause (iv) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies the Federation of Indian Chambers of Commerce & Industry, New Delhi, for the purposes of that clause, specifying its recognition under the exemption provision for the designated assessment year.

Charitable trust notification under section 10(23C)(iv) grants recognition and tax-exempt status for specified assessment years.
The Central Government, under clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961, notifies Atma-Vallabh Samaj Utkarsh Trust, Bombay for the purposes of that clause for the assessment years 1983-84 to 1988-89, thereby recording the trust's recognition under the statutory provision.

Tax exemption notification for National Welfare Fund for Sportspersons confirms administrative recognition and eligibility under income tax rules.
The Central Government, exercising powers under clause (iv) of sub section (23C) of section 10 of the Income tax Act, notified the National Welfare Fund for Sportspersons as eligible for the tax exemption under that clause for the assessment years specified in the notification, thereby administratively recognizing the Fund for income tax purposes.

Notification under section 10(23C)(v) recognizes Sri Venkatachalapathy Annachathram for income tax exemption for the assessment year.
The Central Government, exercising its power under section 10(23C)(v) of the Income tax Act, 1961, notifies Sri Venkatachalapathy Annachathram, Kabisthalam, Tanjore as an institution covered by that clause for the specified assessment year, providing formal recognition for application of the exemption provision to the named institution.