Customs duty amendment creates zero-duty tariff entries, adding electronic integrated circuits and making specified line nil.
The Central Government amends prior customs notifications to change tariff schedule entries: it substitutes the column(4) entry for S.No.316B in Notification No.21/2002-Customs with "Nil", and inserts S.No.65 into Notification No.20/2006-Customs adding tariff item 8542 "Electronic integrated circuits" with column(4) entry "Nil", thereby reflecting zero duty for those specified tariff lines.

Settlement Commission procedure requires notifying the Assessing Officer and new forms for application and annexure transmission.
The Wealth-tax Rules amendments require the assessee to intimate the Assessing Officer in Form DAA when applying to the Settlement Commission; the Commission must forward a copy of the application in Form DA (excluding Annexure and accompanying documents) with its order or intimation when calling for the Commissioner's report, and, where an application is permitted to proceed, the Annexure and accompanying statements and documents must be sent to the Commissioner.

Settlement Commission procedure: applicants must notify the Assessing Officer and Commission must forward application materials accordingly.
The rules require the applicant to intimate the Assessing Officer on the date of filing by furnishing Form No. 34BA. The Settlement Commission must forward a copy of the application in Form No. 34B (excluding the Annexure and accompanying documents) with its order or intimation, and where an application is permitted to proceed, the Annexure and accompanying statements and documents must be sent to the Commissioner.

Newsprint Control Amendment adds an indigenous mill to the registered manufacturers under the regulatory order, maintaining supply oversight.
Amendment to the Newsprint Control Order adds M/s. Sam Turbo Industries Limited (Paper Division), Sathyamangalam, Erode, Tamil Nadu, to the Schedule of indigenous newsprint manufacturers, updating the list of recognised domestic producers under the regulatory framework and taking effect on publication in the Official Gazette.

Acceptance of resignation: central government accepts a part time securities regulator member's resignation, effective as notified.
The Central Government accepts the resignation of Dr. Ashok K. Lahiri from the office of part-time Member of the securities regulator under the authority of Sub section (2) of Section 5 of the Act read with the Rules governing terms and conditions of members; the acceptance is notified as taking effect from 21 July 2007 by a Ministry notification dated 3 August 2007.

Cost Inflation Index sets indexed cost computation for capital gains for the relevant financial year.
The Cost Inflation Index for financial year 2007-08 is specified as 551 under the Explanation to section 48 of the Income-tax Act, 1961. The notification inserts this entry into the existing Cost Inflation Index table for application in computing indexed cost under the capital-gains provisions.

Zero coupon bond designation confirms tax classification for specified PFC bonds, subject to compliance with rule conditions.
Specification designates a fifteen year zero coupon bond of Power Finance Corporation (PFC) as a zero coupon bond under clause 48 of section 2 of the Income tax Act, identifying its life, issuance deadline, fixed maturity amount per bond, discount to be determined by PFC, and authorised number of bonds, and making the specification conditional on fulfilment of certain sub rule conditions in the Income tax Rules governing eligibility and issuance.

Anti-dumping duty on partially oriented yarn from China imposed, creating import duty obligations and exchange rate payment rules.
Definitive anti-dumping duty imposed on partially oriented yarn (POY) from the People's Republic of China at 545.22 US$ per metric tonne, payable in Indian currency; duty effective from provisional duty date (2 August 2006). Applicable exchange rate is set by Government notification and the relevant date for rate determination is the date of presentation of the bill of entry. Notification remains in force up to and inclusive of 10 February 2012 unless revoked earlier.

Cenvat credit amendment adds a notification reference to procedural provisos, broadening listed exemptions' applicability under CENVAT rules.
The amendment adds a prior notification reference into the proviso lists that determine admissibility and procedural application of CENVAT credit: the specified notification is inserted as an additional enumerated item after the existing seventh item in the designated proviso of rule 12 and in two provisos of rule 12A (sub rule (1) and sub rule (4)), and the rules commence on publication in the Official Gazette.

Customs duty on vegetable fats and oils amended to set FFA/acid value thresholds and conditional manufacturing exemptions.
Amendment substitutes S.No.30 in Notification No.21/2002 Customs to define two categories: non edible oils/fractions with specified Free Fatty Acid thresholds for manufacture of soaps, industrial fatty acids and fatty alcohols by manufacturers with splitting plants; and edible grade crude palm oil, crude palmolein and fractions with specified acid value and carotenoid ranges for refining and production of refined palmolein, vanaspati, bakery shortening or inter esterified fats, includes a definition of "Crude palm oil" and omits S.No.34.

Effective rate of duty: new tariff entries add central excise liability for certain plaster and related pharmaceutical goods.
The Central Government, exercising statutory authority, amends the principal excise notification by inserting two new table entries: 62B (tariff heading 3005 90 40 - "All goods") and 62C (tariff heading 3005 90 90 - "Plaster of paris (pharmaceutical grade)"), each assigned an effective rate of duty of 8 percent by Notification No. 34/2007-Central Excise dated 2nd August 2007.

Effective Rate of Duty adjustment: specified edible fats and oils excluding crude palm stearin now attract nil duty.
Notification No. 33/2007 substitutes the S.No.9 entry in the Table of notification No. 3/2006 Central Excise to cover tariff headings 1507-1515 and declares that all goods other than crude palm stearin within those headings shall have a nil effective rate of duty.

Duty free procurement for export use: DTA units may obtain specified inputs from EOUs subject to bond, CT 1 and export verification.
Notification permits duty free supply of specified goods produced in an EOU to a DTA exporter for use in manufacture or processing of export goods, subject to registration under rule 9, furnishing of a bond or undertaking, issuance of Form CT 1, export within six months (or permitted extension), maintenance of bond and stock records, verification by Superintendents, inclusion of specified goods details in ARE 2 and shipping bills, submission of export proof and payment receipts to the EOU, and duty recovery where goods are not received or not exported within the prescribed period.

Post Office Monthly Income Accounts: limits raised to 4.5 lakh and 9 lakh; deposit limit increased to 1,500.
The notification amends the Post Office (Monthly Income Account) Rules, 1987 by substituting monetary figures: in rule 4, "three lakh" and "six lakh" are replaced by four lakh fifty thousand and nine lakh; and in rule 5(1) "one thousand", "three lakh" and "six lakh" are replaced by one thousand five hundred, four lakh fifty thousand and nine lakh, respectively; the amendments take effect on publication in the Official Gazette under Section 15 of the Government Savings Banks Act, 1873.

Special Economic Zone inclusion: additional SIPCOT Sriperumbudur land notified for electronics and telecom hardware development.
The Central Government, under section 4 and rule 8 of the Special Economic Zones framework, notifies inclusion of an additional 41.36.9 hectares at SIPCOT Industrial Area, Sriperumbudur into the Special Economic Zone for Electronics/Telecom Hardware and support services. Specific survey numbers and parcel areas in Thirumangalam and Mambakkam villages are listed as the operative description of the land. The inclusion follows fulfilment of section 3 requirements and a letter of approval dated 3 May 2007; subsequent notes record later de-notifications referencing separate notifications.

Renewal of recognition granted to OTC Exchange under Securities Contracts Regulation Act, permitting one year operation subject to prescribed conditions.
Renewal of recognition has been granted to OTC Exchange of India under the Securities Contracts (Regulation) Act, 1956 for a one-year period commencing 23rd August, 2007 and ending 22nd August, 2008, subject to conditions that may be prescribed or imposed subsequently.

Industrial park approval under tax law: sets eligibility, infrastructure and compliance requirements to claim tax benefits.
Notification declares M/s. Gopalan Enterprises (India) Private Limited's undertaking as an industrial park for purposes of clause (iii) of sub section (4) of section 80IA, listing location, allowed industrial activity (data processing and related services), allocable area percentages, minimum number of units, investment and infrastructure requirements, minimum infrastructure expenditure proportions, limits on single unit occupation, requirement for separate statutory approvals, continuation of operation by the developer while benefits are claimed, transfer intimation procedures, and grounds and consequences for invalidation or withdrawal of approval.

Industrial park notification: tax deduction eligibility tied to approved park operations, investment thresholds, and compliance.
Notification designates M/s. Cyber Park Development & Construction Limited as an approved industrial park operator for tax deduction purposes, specifying permitted activities, area allocation, minimum unit count, project commencement, and investment thresholds. Entitlement to deductions is conditional on meeting infrastructure expenditure minima, unit occupancy requirements, continued operation by the operator, separate statutory approvals for investments, and adherence to approval terms; misinformation, nondisclosure, transfer without notification, delayed commencement beyond the allowed period, or unapproved project amendments may invalidate approval.

Registrar appointment designates regional registration responsibility under the Companies Act for territorial company registrations and administrative oversight.
The Central Government, by notification S.O.1291(E) under Section 609(2) of the Companies Act, designates the Registrar of Companies, Tamil Nadu as the Registrar responsible for registration of companies in the Union Territory of Andaman and Nicobar Islands, effective 20th August, 2007, thereby allocating territorial registration duties and statutory company registration functions to that Registrar office.

Duty credit scrip incentives for agricultural and high-technology exports established, with actual user condition and non-transferability.
Status Holders exporting agricultural goods receive a Duty Credit Scrip usable for duty free import/procurement of capital goods for agro processing, subject to the Actual User condition and non transferability. High technology product exports in free foreign exchange are eligible for Duty Credit Scrip computed either on export value or on incremental growth, with choice available to exporters and ineligibility for nil base year exporters. EOUs/EHTPs/BTPs not availing direct tax benefits may qualify unless excluded. DFIA pre export authorisations bear actual user condition and specified duty exemptions.