National Advisory Committee on Accounting Standards constituted to advise on company accounting policies and standards.
Constitution of the National Advisory Committee on Accounting Standards under the Companies Act to advise the Central Government on accounting policies and standards for companies. The notification specifies the Committee's statutory mandate and lists its membership drawn from professional institutes, regulators, government nominees and industry representatives, with each member's term prescribed to continue until a common terminal date. The notification is effective from publication in the Official Gazette.

Export exemption for sugar to Bhutan and Maldives permits shipments despite a general prohibition under foreign trade policy.
The prohibition on sugar exports is amended so that it shall not apply to exports of sugar to Bhutan and Maldives, creating a specific exception to the general export prohibition, effected by administrative notification under the Foreign Trade Act and Foreign Trade Policy.

Export obligation extension: licence discharge periods extended by the duration of imposed export prohibitions under trade policy.
The period for discharge of export obligation against advance licences shall be extended by the period of the prohibition imposed, provided the export obligation period did not expire prior to the imposition of export restriction; this addition amends Paragraph 3 of Notification No.18 (RE-2006)/2004-2009 under powers of Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 and relevant Foreign Trade Policy provisions.

Special Economic Zone notification establishes a footwear sector SEZ at Mambattu under SEZ Act approval.
Notification declares a Special Economic Zone for the footwear sector at village Mambattu following grant of a letter of approval to M/s. Apache SEZ Development India Pvt. Ltd.; it lists the constituent survey numbers and land parcels comprising the SEZ and records that the government, satisfied that prescribed preconditions under the SEZ regulatory framework were met, hereby notifies the area as an SEZ.

Special Economic Zone notification designates Kolkata IT Park land parcels as an SEZ for IT/ITES under the SEZ framework.
Notification designates specified survey-numbered land parcels at Kolkata IT Park as a Special Economic Zone for the IT/ITES sector, following grant of a letter of approval to M/s. M. L. Dalmiya & Company Limited and satisfaction of statutory prerequisites; the schedule lists parcel identifiers and areas totalling 48.5623 hectares, thereby defining the territorial extent subject to SEZ governance and regulatory application.

Port notification: Karanja Port designated to handle loading and unloading of explosives under Customs Act provisions.
Notification designates Karanja Port as a notified port by inserting item (15) to permit the unloading and loading of explosives, amending the principal Customs notification and thereby authorising Karanja Port for those specific explosive handling operations under the Customs Act powers.

Exemption to lightweight coated paper imports for magazine printing removes additional customs duty, making them nil.
The Central Government inserts a new schedule entry exempting lightweight coated paper, imported by actual users for printing magazines, from the additional customs duty by prescribing a nil rate for that entry, as an amendment to the principal customs notification under its statutory powers.

Exemption from additional customs duty for Nepal origin manufactured goods subject to origin and certification conditions.
Exempts specified goods imported from Nepal from the whole of the additional duty of customs when the goods are either wholly manufactured in Nepal from Nepalese or Indian materials or have undergone manufacturing in Nepal that effects a change in four digit HS classification and is not limited to insufficient operations. Claimants must present a prescribed certificate of origin certified by a Nepalese authority to the satisfaction of Indian Customs; third country input value is subject to a value content ceiling and CIF valuation rules for verification.

Export exemption for sugar to Bhutan removes prior export restrictions, effective immediately under foreign trade policy.
Export of sugar to Bhutan is exempted from the export restrictions imposed by Notification No.18 (RE-2006)/2004-2009 by an amendment to Paragraph 3 adding that such export is exempted with immediate effect; the change was made under powers conferred by the Foreign Trade Act and Foreign Trade Policy and issued in the public interest.

Export exemption for pulses to Bhutan removes prior export restrictions and takes effect immediately under trade policy.
The Central Government amends Paragraph 3 of Notification No.15(RE-2006)/2004-2009 (dated 27.06.2006) to insert that the export of pulses to Bhutan is exempted from the restrictions imposed by that Notification, with immediate effect, pursuant to statutory authority under the Foreign Trade (Development and Regulation) Act, 1992 and the Foreign Trade Policy, 2004-2009.

Correction of Notification Date clarifies the notified instrument's operative date and preserves other corrigendum terms.
A departmental corrigendum amends the effective date of Notification No. 44/2006 to read as 7th March, 2006 instead of 30th March, 2006; this amendment is limited to the date reading and all other terms of the earlier corrigendum dated 11th July, 2006 remain unchanged.

Capital protection oriented schemes: new definition, rating, close ended requirement, fee and repurchase restrictions.
The amendment defines a capital protection oriented scheme and conditions its launch on unit ratings by a registered credit rating agency and close ended structure, permits the Board to specify further requirements, replaces "service fee" with "annual fee," establishes a two stage filing fee payment (minimum at filing and balance as specified), adds rating fees as permissible expenses for such schemes, prohibits repurchase of units before maturity, and revises Second Schedule fee bases and minima.

Charitable trust income exemption: receipts taken on behalf of a temple not includable in recipients' income subject to specified conditions.
Any income received by any person on behalf of Sree Padmanabhaswami Temple Trust shall not be included in the recipient's total income for the indicated assessment years, subject to conditions: application or limited accumulation of income to the Institution's objects, permitted modes of investment, business income only if incidental with separate books, regular filing of returns, and transfer of surplus and assets on dissolution to an organization with similar objectives; the notification applies only to recipients' receipts on behalf of the Institution and not to other receipts.

Exemption under Section 10(23C)(v): income received on behalf of Mata Amritanandamayi Math excluded from donors' taxable income.
Any income received by any person on behalf of Mata Amritanandamayi Math is excluded from such person's total income for assessment years 2003-04 to 2005-06 under Section 10(23C)(v), subject to conditions: application or limited accumulation of income for institutional objects, prescribed investment modes, business income only if incidental with separate books, regular filing of returns, and transfer of surplus on dissolution to a like-minded organization.

Export restriction on sugar amended to permit exports only when specifically authorised by DGFT under policy.
The Central Government, invoking Section 5 of the Foreign Trade (Development and Regulation) Act and relevant Foreign Trade Policy provisions, amends Paragraph 2 of Notification No.18(RE-2006)/2004-2009 to substitute the Nature of Restriction wording: replacing "Not permitted to be exported" with "Unless specifically permitted for export by DGFT", thereby making exports contingent on specific DGFT permission and issued in public interest.

Provisional antidumping duty on partially oriented yarn from China imposed pending final determination, payable in Indian currency.
Provisional antidumping duty is imposed on partially oriented yarn (tariff items 5402 44 00 and 5402 46 00) originating in or exported from China, following preliminary findings that such goods were dumped into India below normal value, causing material injury to the domestic industry. The Central Government, under section 9A(2) of the Customs Tariff Act and relevant Anti-dumping Rules, prescribes a per MT duty specified in US dollars, to be effective until the stated date and payable in Indian currency, with exchange conversion as per Ministry of Finance notifications.

Excise duty exemption extended for goods produced in specified hilly areas, prolonging benefit until March 2010.
Amendment substitutes the terminal date in paragraph 2 of Notification No. 49/2003-Central Excise and Notification No. 50/2003-Central Excise: where "31st day of March, 2007" previously appeared in specified clauses, those words and figures are replaced by "31st day of March, 2010," thereby extending the temporal application of the excise duty exemption for goods produced in specified hilly areas.

Special Economic Zone designation enables establishment of a biotechnology SEZ for Biocon following statutory approval.
Notification designates a contiguous area at Bommasandra-Jigani Link Road Industrial Area, Anekal Taluk, Bangalore District, as a Special Economic Zone for Biocon Limited under Section 4 of the SEZ Act read with SEZ Rules, following grant of a letter of approval and satisfaction of the requirements of Section 3; the area is specified by survey and plot numbers across Yarandahalli and Kyalasanahalli villages and aggregated in the accompanying table.

Exemption from Annual Financial Information Statement: specified assessees relieved from furnishing routine financial reporting obligations.
Exemption from clause (a) of sub rule (2) of rule 12 of the Central Excise Rules, 2002, relieves specified assessees from furnishing the Annual Financial Information Statement. The classes exempted are assessees below the prescribed duty threshold, Indian Ordnance Factories of the Department of Defence Production, and manufacturers or principal manufacturers of jewellery or parts under tariff heading 7113.

Sub-broker fee structure sets initial and renewal block fees for registration and mandates payment timelines as specified by Board.
Amendment to Schedule III sets a fee regime for sub-brokers: different initial and subsequent five financial year block fees depending on whether registration was granted before August 1, 2006 or on/after that date, with payment to be made within the time specified by the Board.