Commencement of Amendment Act appointed to come into force on 12 March 1992 under statutory empowerment.
The Central Government, exercising the authority conferred by sub-section (2) of Section (1) of the Constitution (Sixty-fifth Amendment) Act, 1990, appoints the 12th day of March, 1992 as the date on which the Act shall come into force by notification of the Ministry of Welfare.

Auxiliary duty amendment inserts a prior customs notification into exemption schedule under delegated executive power.
The Central Government amends Notification No. 122/92-Customs by inserting Sl. No. 186A in its Schedule, referencing Notification No. 142-Customs dated 27th March, 1987, thereby adding that earlier notification to the list of Miscellaneous Exemption Notifications.

Tariff amendment replaces tariff entry for forgings and forged stainless steel articles with an ad valorem duty rate.
The Government, invoking its statutory power under the Central Excises and Salt Act, amends Notification No. 223/88-Central Excises by substituting the Table entry for forgings and forged articles of stainless steel at the specified serial number and column so that the applicable charge is an ad valorem duty.

Amendment to excise exemption: substituted tariff description for ingots, bars, rods and re-rollable iron and steel products.
Amendment to an excise exemption notification substitutes the tariff description for certain iron and steel products with the entry "Ingots, bars, rods and other reliable or re-rollable material, of iron and steel other than stainless steel," effected by the Central Government exercising powers under the excise statute and stated to be in the public interest.

Customs exemption for dead burnt magnesite: imports exempt from duty above specified ad valorem threshold when composition criteria met.
Exemption for imports of dead burnt magnesite classified under Chapter 25 that meet specified silica, magnesium oxide and bulk density criteria, relieving such imports from customs duty to the extent the duty specified in the First Schedule exceeds a prescribed ad valorem threshold, under section 25(1) of the Customs Act, 1962.

Project import documentation: applications must include original contract deed, true copy, required import licence, and approved items list.
The substituted provision requires that an application for project import be accompanied by the original deed of contract with a true copy, the import trade control licence where applicable, and an approved list of items issued by the technical approval or sponsoring authority.

Appointment to securities regulator: Secretary, Ministry of Corporate Affairs appointed as Member under section 4(1) clause (b).
The Central Government, exercising powers under sub section (1) of section 4 of the Securities and Exchange Board of India Ordinance, 1992, appoints Ms. Deepti Gaur Mukerjee, Secretary, Ministry of Corporate Affairs, as a Member of the Securities and Exchange Board of India under clause (b), in substitution of Dr. Manoj Govil; the notification records the ministry, file reference and issuing joint secretary.

Customs exemption amendment: animal feeds added to the tariff notification's exemption table, expanding covered items.
Amendment to Notification No. 203/90-Cus. by Notification No. 141/92-Cus. adds a new entry in the Table of the earlier notification: immediately after serial No. 93, insert serial No. 94 labelled "ANIMAL FEEDS," thereby expanding the schedule of items covered by the exemption under the parent customs notification.

Rescission of notification under statutory power repeals the earlier customs notification while preserving prior actions.
The Central Government, exercising powers under the Customs Act, rescinds Notification No. 124-Cus., dated 14 June 1966, on grounds of public interest, with the rescission not affecting things done or omitted before such rescission.

Exchange rate determination for export goods sets prescribed conversion rates for listed foreign currencies, effective immediately.
The Central Government, under the Customs Act, prescribes rates of exchange for conversion between specified foreign currencies and Indian currency for export goods, effective from the notification date. A schedule to the notification lists named foreign currencies with corresponding equivalents to be used as the operative conversion rates for export transactions.

Exchange rate determination for imported goods prescribes conversion rates into Indian currency for customs and stamp duty.
The notification prescribes official exchange rates for specified foreign currencies to be used for converting into Indian currency (and vice versa) for the purpose of calculating stamp duty under the Indian Stamp Act and for section 14 of the Customs Act insofar as they relate to imported goods, and it supersedes the prior notification by providing a Schedule of fixed conversion rates effective as stated therein.

Customs bond cancellation clause amended to remove 'no objection' statement and officer signature requirement in notifications.
The Central Government deleted from Part I of the Schedule the words stating there was "no objection to the cancellation of the bond/legal undertaking so far as the Customs Department is concerned," and removed the related signature, designation and seal block for the Customs Officer at the Port of Registration, thereby amending the procedural text governing bond or legal undertaking cancellation under the notification.

Exemption for polyester tops and tows - non payment of higher excise duty for specified clearance period.
An exemption was directed for polyester tops and tows under sub heading No. 5501.20 cleared during the specified period, because a generally prevalent practice resulted in duty being levied at a lower rate than technically applicable; accordingly, the Central Government directed that the portion of excise duty which, but for that practice, would have been payable shall not be required to be paid in respect of those short levied clearances.

Charitable deduction recognition: temple notified as place of public worship, limited to approved renovation works.
The Central Government notifies Arulmigu Viruthagiriswarar Temple as a place of public worship for section 80G purposes, enabling charitable deduction recognition; this notification is limited in validity to the first-phase repair/renovation work and is conditional on approval by the HR & CE Commissioner.

Customs notification amendment modifies tariff exemptions, adding tartaric acid for manufacture use and omitting an earlier entry.
Statutory authority under the Customs Act is used to amend two miscellaneous exemption notifications: Notification No. 64/79-Customs is expanded by adding an entry exempting specified tartaric acid isomers for the manufacture of methyl dopa, while Notification No. 213/88-Customs is modified by omitting Sl. No. 8 and its entries, thereby removing that exemption from the Table.

Exemption from TDS on commission payments to IATA and approved travel and cargo agents, subject to PAN and reporting requirements.
Exemption from withholding tax on commission or brokerage payments is granted to airline companies paying the International Air Transport Association and approved air travel and air cargo agents, subject to conditions: recipients must furnish their Permanent Account Number to the paying airline, and the airline must submit within two months of the financial year end a list to the Commissioner of Income tax containing names, addresses and amounts of commission or brokerage in respect of cases where tax was not deducted at source.

Exemption from tax deduction on commission payments hinges on PAN submission and annual reporting to tax authorities.
Exemption under clause (a) of sub-section (2) of section 194H exempts payers of commission or brokerage to commission agents or dealers in the food-grain trade where the agents, being residents, furnish their Permanent Account Number and the payers file with the Commissioner of Income-tax, within two months of the end of the financial year, a list of agents or dealers in whose cases tax was not deducted at source, with addresses and amounts of commission or brokerage paid.

Exchange rate determination for export goods: prescribed foreign currency conversion rates set as operative benchmarks under customs notification.
The Central Government, exercising powers under the Customs Act, prescribes by notification the rates of exchange for specified foreign currencies in relation to Indian currency for export goods; the notification fixes the equivalent of each listed foreign currency to Rs.100 as the operative conversion rate and takes effect from the stated commencement date, with a Schedule enumerating the currencies and corresponding rates to be applied in customs procedures for exports.

Exchange rates for imported goods prescribed as official conversion rates for customs and stamp duty purposes nationwide.
The Central Government prescribes official exchange rates for specified foreign currencies to be used for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 purposes of the Customs Act, 1962 insofar as they relate to imported goods; the notification supersedes an earlier notification and directs that, from the notified commencement date, the rate for each currency shall be the figure shown opposite it in the schedule.

Excise exemption for aerated waters reduces duty to specified per bottle rates according to bottle size and tariff subheading.
Notification exempts specified aerated waters from excise duty in excess of the per bottle amounts stated, applying to goods under the listed tariff sub headings and limiting the levy to specified rates according to bottle capacity; sub heading 2201.19 provides a base cap with incremental additions for larger bottles, while sub heading 2202.19 provides stepped caps by size band and incremental additions for the largest bottles.