Modvat rate revised upward under amendment to notification, substituting the prior per square metre amount with a higher rate.
Amendment increases the specified input credit rate by substituting "Rs. 5.25 per square metre" with "Rs. 5.50 per square metre" in clause (ii) of the fourth proviso to Notification No. 177/86-Central Excises, effected under rule 57A of the Central Excise Rules, 1944.

Customs exemption for cocoa beans caps ad valorem duty on imports above a specified rate.
The central government exempts cocoa beans under Heading 18.01, whole or broken, raw or roasted, when imported, from so much of the customs duty as exceeds the amount calculated at the rate of twenty five per cent ad valorem, thus capping the chargeable duty at that ad valorem rate.

Customs exemption for power transmission components caps payable customs duty at specified ad valorem rate if certification requirements satisfied.
Exempts imported components for manufacture of power transmission systems for earth-moving machinery, fork lift trucks and locomotives from customs duty in excess of a 15 per cent ad valorem rate, subject to certification that the components are listed and required, certification that the import is under a Ministry-approved manufacturing programme issued by an Industrial Advisor, and subsequent verification that the components were used for the specified manufacturing purpose within a period set by the Assistant Collector of Customs.

Customs exemption: addition of recuperator and heat exchanger equipment eligible for duty relief in carbon black manufacture.
The Central Government amended Notification No. 30/88-Cus by inserting Sl. No. 17 in its Table to add Recuperator/Heat Exchangers for use in the manufacture of carbon black, thereby extending the notification's exemption coverage to that specified energy conservation machinery under the Customs Act.

Customs duty cap for computer peripherals limits payable duty to prescribed ad valorem rates, distinguishing listed core peripherals.
Central Government caps customs duty on imports under Heading 84.71 by exempting that portion of duty exceeding the amount calculated at the ad valorem rate specified in the notification's Table; the Table distinguishes listed computer peripherals from all other goods under the Heading and prescribes different ad valorem rates for each category, and the notification supersedes the earlier specified notification.

Excise duty exemption for mats manufactured from grass, straw, rushes or reeds removes excise liability except for synthetic plaiting materials.
This notification exempts mats manufactured from grass, straw, rushes and reeds from the whole of excise duty otherwise leviable, providing tariff-based relief for products made from natural plaiting materials, and expressly excludes mats where the plaiting materials are synthetic or artificial.

Excise duty exemption for ultramarine blue permits manufacture duty-free when inputs have previously borne excise or customs duty.
Exempts ultramarine blue falling under the relevant tariff subheading from the whole of the excise duty leviable thereon, subject to a proviso that the exemption applies only where the ultramarine blue is manufactured out of ultramarine blue on which excise duty or additional customs duty has already been paid.

Armed Forces definition expanded to include central paramilitary units, extending excise notification coverage for ordnance factory goods.
The notification amends the Explanation to Notification No. 278/82 C.E., expressly defining "Armed Forces of the Union" to include specified central paramilitary and security organisations (Central Reserve Police Force, Indo Tibetan Border Police, Special Services Bureau, Border Security Force, Central Industrial Security Force and National Security Guard) for the purpose of excise treatment of goods manufactured in Central Government ordnance factories, under the powers in section 5A of the Central Excises and Salt Act, 1944 and section 3(3) of the Additional Duties of Excise Act, 1957.

Research approval under section 35(1)(ii) requires universities to keep separate research accounts and file annual returns and audited accounts.
Approval is granted to Shreemati Nathibai Damodar Thackarsey Women's University under clause (ii) of sub section (1) of section 35 as a University subject to conditions: maintain a separate account for scientific research; furnish an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31st May; and submit audited annual accounts showing income, expenditure, assets and liabilities to designated tax and research authorities by 30th June each year.

Exemption for Raw Feed or Slurry: directive waives excise and special duty where prior practice resulted in non-levy.
Pursuant to section 11C of the Central Excises & Salt Act, 1944, the Central Government directs that the whole of the excise duty and the special duty which would have been payable on Raw Feed or Slurry captively consumed in the manufacture of cement clinkers, but for a generally prevalent practice of non-levy, shall not be required to be paid in respect of such Raw Feed or Slurry on which duty was not levied during the specified period.

Excise duty exemption for donated relief goods enabling tax-free supply to earthquake victims, subject to certification and distribution checks.
Exemption from excise duty and additional excise duty is granted for specified relief goods donated or purchased from cash donations for earthquake relief in the State, subject to manufacturer certification of intended free, non discriminatory distribution, direct shipment from factory to authorised relief agencies, and production within a prescribed period of a district certificate confirming free, non discriminatory distribution.

Approval under section 35(1)(iii) grants institution status with annual research returns, audited accounts and renewal procedure obligations.
Approval is granted to Sur Smarak Mandal, Agra as an Institution for purposes of clause (iii) of sub section (1) of section 35 of the Income tax Act for the period 1 4 1990 to 31 3 1992, subject to compliance: maintain separate accounts for scientific research; submit an annual research return to the scientific department by 31 May; and furnish audited annual accounts showing income, expenditure, assets and liabilities to specified tax and research authorities by 30 June each year.

Tax-free bond specification: secured redeemable railway bonds qualify for exemption only if holders register their holdings with the issuer.
The Central Government specifies secured, redeemable, non convertible railway bonds issued by the Indian Railway Finance Corporation as eligible for a tax exemption under the relevant item of section 10, subject to the condition that the holder registers their name and holding with the issuing corporation as a prerequisite for the benefit.

Tax exemption for specified IDBI bonds under section 80L; transferee must notify issuing bank within sixty days.
Central Government specifies three categories of bonds issued by the Industrial Development Bank of India as qualifying under Section 80L: 15% Non Convertible Bonds (Cumulative Series I), 15% Non Convertible Bonds (Non Cumulative Series I), and Deep Discount Bonds (Series I) redeemable at face value after a long term. The specified benefit is admissible on transfer only if the transferee informs the issuing Bank by registered post within sixty days of the transfer.

Commencement of Customs Tariff amendments: specified Finance Act changes appointed to come into force on a fixed date.
The Central Government, exercising the power conferred by clause (b) of section 121 of the Finance (No. 2) Act, 1991, appoints the first day of January, 1992 as the date on which the amendments to the Customs Tariff Act, 1975 specified in the Third Schedule to that Finance Act shall come into force.

Approval under section 35(1)(ii): organisation must keep separate research accounts and file annual returns plus audited accounts.
Approval granted to Diabetic Association of India as an Institution under section 35(1)(ii) requires the organisation to maintain a separate account for scientific research receipts, furnish an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May, and submit audited annual accounts showing income, expenditure, assets and liabilities to designated tax and research authorities by 30 June. The approval is effective from 1 April 1990 to 31 March 1992 and contains prescribed procedures for applying for extension of approval.

Charitable recognition for exemption subject to exclusive application of income and prescribed investment and business conditions.
Notification grants charitable exemption recognition to Sevagram Ashram Pratishthan, Wardha under sub clause (iv) of clause (23C) of section 10 for specified assessment years, conditional on applying or accumulating income wholly and exclusively to its objects, restricting investments and deposits to prescribed modes (excluding certain voluntary contributions retained as jewellery or furniture), and excluding business profits unless incidental to objectives with separate books of account.

Income-tax notification under section 10(23C)(iv): exemption granted subject to exclusive application of income, specified investments, and business limits.
Notification under section 10(23C)(iv) notifies the Jayaprakash Institute of Social Change, Calcutta for specified assessment years subject to conditions: the institution must apply or accumulate its income wholly and exclusively for its objects; invest or deposit funds only in forms permitted by sub-section (5) of section 11, except voluntary contributions in kind; and any business income is excluded unless the business is incidental to objectives and separate books of account are maintained.

Exemption under section 10(23C)(iv): charitable institution notified subject to income application, permitted investments, and separate books for incidental business.
Notification designates Muncherjee Nowrojee Banajee Industrial Home for the Blind as eligible under section 10(23C)(iv) subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments and deposits (excluding voluntary contributions retained in kind) are limited to prescribed forms or modes; and exemption does not cover business income unless incidental to objectives with separate books maintained.

Auxiliary duty amendment adds a new Schedule entry to Notification 27/91-Cus expanding exemption coverage under statutory authority.
Amendment inserts, after Sl. No. 73 in the Schedule to Notification No. 27/91-Customs, a new Sl. No. 74 identifying Notification No. 155/91-Customs dated 5-12-1991, thereby adding that notification to the list of entries in the Schedule. The Central Government exercised its powers under the Customs Act and the Finance Act to make this textual addition to the notification's Schedule.