Rescission of notification restores prior customs manifest regime for coastal vessels by exercise of statutory power.
The Central Government, under sub section (3) of section 98 of the Customs Act, 1962, issues Notification No. 14/98 Cus. (N.T.) dated 27 February 1998 rescinding Government Notification No. 52 Customs dated 1 February 1963, as published in the Gazette of India Extraordinary Part II, Section 3, Sub section (i) vide G.S.R. 228.

Delegation of Central Excise powers: vigilance officers authorised to exercise equivalent excise ranks and nationwide jurisdiction.
Vigilance officers of the Directorate General of Vigilance, Customs and Central Excise are appointed as Central Excise Officers and invested with the powers exercisable by specified Central Excise ranks throughout India. The notification equates the Director General (Vigilance) with Chief Commissioner and Commissioner powers, Additional Commissioner (Vigilance) and Deputy Commissioner (Vigilance) with Deputy Commissioner powers, and Assistant Commissioner (Vigilance) with Assistant Commissioner powers, and supersedes the prior notification under the Central Excise Act and Rules.

Appointment of Central Excise Officer: Commissioner of Customs, Pune vested with nationwide powers to investigate and adjudicate cases against a company.
Commissioner of Customs, Pune is appointed and designated as Central Excise Officer and vested with all powers of a Commissioner of Central Excise under clause (b) of section 2 of the Central Excise Act, 1944 read with rule 4 of the Central Excise Rules, 1944, to investigate and adjudicate assigned cases against M/s. Zinc Smelters and Refiners (I) Pvt. Ltd., exercisable throughout India.

Bulk licence conditions for rough diamonds require supply to authorised holders or re export within a specified time and compliance.
Bulk licences for rough diamonds permit import from any source with an obligation to supply such diamonds to holders of valid REP/Diamond Imprest Licences, EOU/EPZ units or to re export them; such supply or re export must be completed within twelve months. Eligibility for bulk licences is restricted to specified public enterprises and to private exporters or overseas companies meeting prescribed export or turnover thresholds. Private and public bonded warehouses in EPZ/DTA may handle import, re export and DTA sales of rough and uncut precious and semi precious stones against REP/GEM REP/Diamond Imprest Licences, subject to customs duty and procedural requirements, and cut and polished gems must meet a minimum value addition requirement.

Exchange rate determination sets statutory conversion rates for export goods under Customs Act, superseding prior notification.
Determination of exchange rates for export goods under section 14(3)(a)(i) of the Customs Act by superseding the earlier notification; statutory conversion rates for specified foreign currencies are fixed in Schedule I (rate per one unit) and Schedule II (rate per 100 units) and shall operate from the stated commencement date, serving as the authoritative conversion table for export goods.

Exchange rate determination sets official conversion rates for calculating stamp duty and customs valuation on imported goods.
Prescribes official foreign to Indian currency conversion rates for purposes of calculating stamp duty and for section 14 of the Customs Act in relation to imported goods, superseding the earlier notification and effective from the first day of March, 1998; operative rates are set out in Schedule I (rate per one unit) and Schedule II (rate per one hundred units) for the listed foreign currencies.

Customs exemption scope expanded to include PEC Limited alongside State Trading Corporation for gold and silver imports.
Exercising powers under sub-section (1) of section 25 of the Customs Act, 1962, the Central Government amended Notification No. 80/97-Customs (21 October 1997) by substituting the words that identify the beneficiary entity so as to add an additional trading enterprise alongside the previously named importer, thereby expanding the textual scope of the miscellaneous exemption governing imports of gold and silver.

Loan limits for Nidhis and Mutual Benefit Societies: tiered caps based on deposit tiers and prior profit history.
Amendment replaces the prior sub item to set tiered maximum loans and advances for Nidhis and Mutual Benefit Societies based on bands of total member deposits, and imposes a lower lending cap where the society has not made profits in the three preceding years.

Managerial remuneration exemption for nidhis and mutual benefit societies: no whole-time manager, directors' pay within profit cap, special resolution.
Exemption from Central Government approval under section 309(4) for managerial remuneration of nidhis and mutual benefit societies is permitted where the entity lacks a managing director, whole-time director, or manager; aggregate directors' remuneration in a financial year does not exceed a ceiling tied to net profits or a lower monetary cap; and such remuneration is approved by a special resolution of the nidhi or mutual benefit society.

Customs port functions updated: Muldwarka authorised to unload imported fuels and load clinker and cement for export.
Exercising powers under section 7(a) of the Customs Act, 1962, the Central Government amends Notification No. 62/94 (N.T.) to substitute the Table entry for Muldwarka Port in Gujarat, authorising specifically the unloading of imported coal, petroleum coke and furnace oil and the loading of clinker and cement for export.

Exemption under section 10(6C): fees for technical services under government agreement excluded from taxable income for notified foreign companies
Declaration under section 10(6C) that fees for technical services received by Redecon Australia Private Limited and NEDECO under the agreement dated February 27, 1997 with the Government of India for services in or outside India in projects connected with the security of India shall not be taken into consideration for computing the total income of those foreign companies.

Income tax exemption under section 10(23) conditioned on exclusive application of income and permitted investment modes.
The Central Government notifies The U.P. Cricket Association, Kanpur for income tax exemption under clause (23) of section 10 subject to conditions: income must be applied or accumulated exclusively for the association's objects in line with section 11 rules; funds and accumulations must be invested only in modes permitted by section 11(5) or Board notifications; income may not be distributed to members except as grants to affiliated bodies; and business profits are excluded unless incidental and maintained in separate books.

Anti dumping investigation initiated over alleged dumping of P Tert Butyl Catechol from France; parties invited to submit information.
The Authority has initiated an anti dumping investigation into imports of P Tert Butyl Catechol from France after prima facie findings that normal value in France exceeds export prices to India, producing a dumping margin above de minimis and that domestic industry indicators collectively indicate injury. Known exporters and importers are invited to submit prescribed information and representations within the prescribed deadline, other interested parties may also submit information, and a public file of non confidential evidence is available for inspection. The Authority may base findings on facts available where parties impede the investigation.

Anti-dumping investigation initiated into chloroquine phosphate imports from China PR alleging dumping and injury; interested parties invited to submit information.
The Designated Authority has initiated an anti-dumping investigation into chloroquine phosphate imports from China PR after a joint petition by domestic producers establishing standing and treating domestic product as like goods. Petitioners produced prima facie evidence that constructed normal value in China PR exceeds export prices to India, indicating dumping, and submitted economic indicators suggesting injury to the domestic industry. Investigations cover the specified period of investigation; known exporters and importers must submit prescribed information within the time limit, interested parties may inspect the public non-confidential file, and the Authority may use facts available where necessary.

Rejection of declared value allows customs officers to request evidence and deem valuation indeterminable if doubts persist.
A new rule allows the proper officer to require further information or evidence where there are reasonable doubts about the truth or accuracy of an importer's declared value and, if doubt persists or no response is received, to treat the value as indeterminable under the valuation rules; at the importer's request the officer must provide written grounds for doubt and afford a reasonable opportunity to be heard before a final decision.

Export of imported goods permitted without licence subject to negative list and special import licence exclusions, rupee exports require value addition.
Export of imported goods may be made without a licence if exported in the same or substantially the same form, except when the item appears on the Negative List of Imports or Negative List of Exports or was imported under a Special Import Licence. Exports of goods imported against payment in freely convertible currency may be effected against freely convertible currency; if exported for payment in Indian rupees, a minimum value addition of 100% applies, subject to the same exclusions.

PAN application requirement: persons meeting income, turnover, or filing thresholds must apply under new PAN series by prescribed dates.
Application for allotment of a Permanent Account Number is required under section 139A(4) for persons assessable by an Assessing Officer who (i) had total income above the non-taxable limit, (ii) carry on business or profession with sales, turnover or gross receipts likely to exceed the prescribed threshold, (iii) are required to furnish a return under section 139(4A), or (iv) hold a PAN under a different series; such persons must apply to the Assessing Officer for allotment under the new series within prescribed deadlines, with exemptions for those already applied or already allotted under the new series.

Exemption under section 35AC extended for the specified hospital construction and operation project for three further assessment years.
Relying on the National Committee's recommendation and powers under the Explanation to section 35AC and Income-tax Rules, the Central Government specified the construction, furnishing, equipment and running of the hospital at Crozaria by Smt. Samarthben Chunilal and Sheth Dosabhai Madhavji Sarvajanik Trust as an eligible project or scheme for a further three assessment years commencing from the assessment year 2000-2001, at the estimated cost stated in the notification.

Import liberalisation for woven fabrics of manmade filaments allowed on Open General Licence via SIL route, policy free.
Woven fabrics mixed or solely of manmade filaments are authorised for import on the Open General Licence via the SIL route under Notification No. 37/1997 amending the ITC(HS) Classification, with policy designated as free and imports to be effected under SIL/public notice.

Customs exemption for computer software: tariff classification clarified and software defined, with duty set to nil.
Amendment substitutes S. No. 173 to classify computer software under heading 49 or 85.24 with nil customs duty and defines computer software as any machine readable representation of instructions, data, sound or image (including source and object code) usable with an automatic data processing machine under heading 84.71, excluding software required for operation of machines performing specific non data processing functions.