Exemption amendment adds tariff and duty exemptions for specified goods, including duty-free monofilament long line systems for tuna fishing.
The notification removes earlier entries at S.No.81 and S.No.82 and inserts three new tariff entries: a specific duty per metric ton for certain goods, an ad valorem duty for isolated soya protein, and a nil-duty classification for monofilament long line systems for tuna fishing. Clearance of the nil-duty goods requires production, before clearance, of a certificate from an officer not below the rank of Director in the Marine Products Export Development Authority confirming the goods are monofilament long line systems intended for tuna fishing.

Exemptions amended: tariff headings revised, definition of machines narrowed, and new Nil-duty goods added under Central Excise.
The notification amends existing Central Excise exemptions by substituting a tariff entry with 5205 or 5206 or 5207, excluding manually operated hand implements from the term "machines" in chapter 57 (examples: hooking, tufting and knitting guns), and inserting new Nil-duty entries listing guar meal/guar gum refined split; specified cocoa goods; unbranded hooka/Godaku tobacco; raw or tanned and dressed furskin; umbrella cloth panels; and drawing instruments.

Service tax exemption for Farm Income Insurance Scheme inserted into existing notification to exclude it from levy.
The Central Government amended Notification No. 3/2000-Service Tax by inserting the words "or the Farm Income Insurance Scheme" after "Seed Crop Insurance", thereby extending the notification's exclusion to provide a Service Tax exemption for the Farm Income Insurance Scheme under the statutory power to notify exemptions.

Renewal of recognition granted to a regional stock exchange, subject to prior approval for establishment of a Settlement Guarantee Fund.
The regulator granted renewal of recognition to The Guwahati Stock Exchange Limited under section 4 of the Securities Contracts (Regulation) Act, 1956 for a one year term, conditioned expressly that the Exchange may commence trading only after obtaining final approval for establishment of the Settlement Guarantee Fund.

Tax exemption approval under section 10(23G) conditional on compliance, audit and operation requirements for irrigation projects.
Approval under section 10(23G) read with rule 2E is granted to Krishna Bhagya Jala Nigam Ltd for execution of specified irrigation projects on the Krishna River for a three year period commencing 01.04.2004, conditional on continued conformity with statutory provisions; the Central Government may withdraw approval if the enterprise ceases the eligible business, fails to maintain and audit accounts or to furnish the audit report, or fails to operate and maintain the developed infrastructure facility.

Approval under Section 35(1)(ii) imposes research accounting, audited filings and auditor certification for donor deduction eligibility.
Approval under Section 35(1)(ii) was granted to Vivekananda Institute of Bio-technology for 1.4.2002-31.3.2005 as a university/college partly engaged in research, subject to maintaining separate research accounts, submitting audited Income and Expenditure accounts for each approved year to the Commissioner/Director of Income-tax (Exemptions) by the return due date or within 90 days of notification, and enclosing an auditor's certificate specifying donor-eligible research receipts and certifying that expenditure was for scientific research.

Freely convertible currency requirement: exports to Nepal and Bhutan qualify for notification benefits when payment is in listed convertible currencies.
Amendment confines applicability of the Central Excise notification to exports to Nepal and Bhutan only where payment is in specified freely convertible currency, lists acceptable currencies and treats Indian Rupees bought by the Asian Development Bank via payment to the Reserve Bank of India in foreign exchange as convertible; it also applies the conditions, safeguards and procedure of the Ministry of Finance notification for such exports.

Industrial park notification affirms tax benefit eligibility subject to area, infrastructure and compliance requirements.
The Central Government notifies M/s. Bagmane Developers Pvt. Ltd.'s Bagmane Enclave in Bangalore as an industrial park under section 80-IA(4)(iii), subject to annexed terms including permitted industrial activities, proposed area and unit count, specified allocable percentages for industrial and commercial use, and declared investment. Conditions require a minimum industrial area allocation, a cap on commercial land, prescribed infrastructure expenditure thresholds and defined infrastructure components, a limit on any single unit's share of industrial area, requisite foreign investment approvals, continued operation by the developer for the benefit period, and potential withdrawal or invalidation of approval for non-compliance or undisclosed material facts.

Anti dumping duty on Nylon Tyre Cord Fabric imposed, with definitive duties applied to specified Chinese producers and exporters.
Definitive anti dumping duties are imposed on all grades of Nylon Tyre Cord Fabric originating in and exported from the People's Republic of China based on findings of dumping and material injury; specific per unit duty rates in foreign currency are assigned to identified producers and exporters and to other consignments, with duties effective from the provisional duty imposition date, payable in Indian currency, and with the applicable rate of exchange determined by the Ministry of Finance notification for the bill of entry date.

Appointment as Part-time Member: Venu Srinivasan named to SEBI for a three-year term subject to age and orders.
The Central Government appoints Shri Venu Srinivasan, Managing Director of Sundaram Clayton Ltd., Chennai, as a Part-time Member of SEBI under the SEBI Act, 1992 and related Rules, for a period of three years from assumption of charge, subject to earlier termination upon attainment of age sixty-two or by further government order.

Notification under section 10(23C)(iv) grants tax-exempt status to a charitable institution subject to compliance conditions.
Notification under sub-clause (iv) of clause (23C) of section 10 notifies the Tibetan Homes Foundation as a charitable institution for the relevant assessment years, subject to conditions: apply or accumulate income wholly for its objects with excess accumulation beyond fifteen per cent limited to five years; restrict investments to modes specified in section 11(5) (except certain voluntary contributions in kind); exclude profits of business unless incidental and separately accounted; file returns regularly; and on dissolution transfer surplus and assets to a like charitable organisation.

Exchange rate determination sets specified foreign currency conversion rates for exported goods, replacing the prior notification.
The Board, under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962, supersedes a prior notification and determines the rate of exchange for conversion of specified foreign currencies into Indian rupees (and vice versa) for export goods: Schedule I lists rates per one unit of each currency and Schedule II lists the rate per one hundred units for Japanese Yen, these rates being the operative conversion rates from the notified commencement date.

Exchange Rate Determination sets official currency conversion rates for imported goods effective from first May under Customs Act.
Determines the official rate of exchange for converting specified foreign currencies into Indian rupees for imported goods valuation, superseding the earlier notification; lists conversion rates in Schedule I (per unit for major currencies) and Schedule II (per 100 units for Japanese yen) to operate with effect from the 1st May, 2005 under the referenced provision of the Customs Act.

Renewal of recognition to a regional stock exchange granted subject to SEBI directives and expedited investor grievance redressal.
Renewal of recognition to Ludhiana Stock Exchange Association Limited is granted under section 4 of the Securities Contracts (Regulation) Act, 1956 for one year from 28 April 2005 to 27 April 2006, on satisfaction of public and trade interest, and is subject to compliance with SEBI's earlier unimplemented advice: expedite the Girnar Fibres matter within one year, redress investor complaints within six months, and ensure the Investor Grievance Committee settles grievances within six months.

Rate of interest on late payment of refunds fixed, applying immediately under the VAT interest provision for refunds.
Annual rate of interest for delayed payment of tax refunds under the Delhi Value Added Tax framework is fixed at eight percent, effective with immediate commencement from 25 April 2005, by notification of the Finance (Accounts) Department invoking the statutory power to prescribe the interest rate for late refunds.

Interest on late tax payment prescribed under statute; notified rate applies immediately to dealers' VAT liabilities.
The notification prescribes an annual rate of interest for delayed payment of tax by dealers under sub section (2) of section 42 of the Delhi Value Added Tax Act, 2004, fixing the statutory interest rate to be applied to late VAT payments and declaring that the rate takes effect immediately from the date specified in the notification.

Bank collection of VAT: banks authorised as government treasuries subject to remittance, interest and electronic reporting conditions.
Certain specified commercial banks are designated as the appropriate Government Treasury to receive sales tax and Value Added Tax liabilities of dealers under the Delhi VAT Act, 2004, effective 1 April 2005. Their authority is conditional on remitting collections to the RBI Sales Tax Account within three days of realization, payment of interest on delayed remittances at the latest bank rate plus two percent, implementing on-line computerized collection systems that supply prescribed MIS and electronic data, and accepting sales tax payments of any denomination at any authorised branch regardless of dealer banking relationship.

Industrial inputs classification subsumes Bitumen, maintaining its prior VAT treatment after a statutory schedule amendment.
The amendment to the Third Schedule omits the specific entry for Bitumen and inserts a new entry for Industrial Inputs, thereby subsuming Bitumen within the industrial inputs category and preserving its existing tax treatment; the notification is issued under the enabling provision of the Delhi Value Added Tax Act and takes immediate effect, with an administrative note explaining the transitional lists of industrial inputs and their operation during the defined interval.

Port authorization update permits unloading specified imported bulk fuels and loading clinker and cement for export.
The Central Board of Excise and Customs amends the Schedule entry for Muldwarka Port, authorising the unloading of imported coal, petroleum coke, furnace oil and gypsum and the loading of clinker and cement for export, by substituting the specified wording in the Table against the State of Gujarat entry in the principal non-tariff customs notification.

Tax exemption under Section 10(23C)(iv) notified for a charitable trust subject to specified compliance and dissolution conditions.
Notification under Section 10(23C)(iv) grants tax-exempt status to Adhi Prasakthi Charitable, Medical Educational & Cultural Trust for assessment years 2006-07 to 2008-09 subject to conditions: apply income wholly to objects, invest only in modes specified in Section 11(5) (except certain retained voluntary contributions), exclude business income unless incidental with separate books, regularly file returns, and transfer surplus on dissolution to a similar charitable organisation.