Customs exemption for raw pearls and precious stones permits duty free import when made under specified replenishment licences.
Exemption from customs duty is granted for raw pearls, natural or cultured, and precious or semi precious stones (excluding rough diamonds), unset and uncut, under Chapter 71 when imported into India, provided imports are made under a Replenishment Licence or a Replenishment Authorisation for Gems issued in accordance with the Foreign Trade Policy; the relief covers basic and additional duties as specified and is subject to the licence conditioned procedural requirements.

Tax exemption recognition for Jehangir Art Gallery granted subject to compliance with income application, investment and reporting conditions.
The Central Government notified Jehangir Art Gallery as a charitable institution eligible for income-tax recognition for specified assessment years, subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to forms permitted for charitable trusts; treat business income as incidental with separate accounts; file income-tax returns regularly; and on dissolution transfer surplus and assets to a similar charitable organisation.

Tax exemption under section 10(23C)(iv) grants conditional charitable status subject to use, investment, filing and dissolution rules.
Notification grants conditional tax exemption to National Horticulture Board, Gurgaon, for specified assessment years, requiring the assessee to apply or accumulate income wholly and exclusively to its objects; restrict investments to statutory modes (excluding certain voluntary contributions held in kind); exclude business income unless incidental and separately accounted; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.

DEPB benefit for supplies to SEZ replaces drawback, allowing DTA suppliers entitlement and export performance discharge.
Amendment to FTP 2002-07 adds that DTA suppliers to SEZ units are entitled to DEPB in lieu of Drawback for supplies to SEZ, alongside relevant entitlements under paragraph 8.3 and allowing discharge of any export performance obligations.

Anti-dumping duty on graphite electrodes imposed provisionally, rate tied to dumping margin and landed value conversion.
Provisional anti-dumping duty imposed on Ultra High Power graphite electrodes (diameters up to and including 24"), under sub-heading 85.45, originating in or exported from Poland and Brazil; duty equals the difference between a specified US dollar amount per metric tonne and the landed value of imports, effective until 4 December 2002 and payable in domestic currency. "Landed value" is defined as assessable value under the Customs Act excluding certain duties, and the applicable exchange rate is the Government-notified rate on the bill of entry date.

Anti-dumping duty on zinc oxide imports from Nepal calculated per exporter to offset dumping-caused injury to domestic industry.
Anti-dumping duty is imposed on Zinc Oxide imports from Nepal after findings that the product was exported below normal value and caused material injury to the domestic industry; duty is calculated per exporter as the difference between a specified reference amount and the assessable landed value per metric tonne, with rates listed for named producers and a default reference for others, payable in domestic currency and levied from the date of provisional imposition, subject to an exemption under a specified customs notification.

Renewal of recognition under securities law requires a settlement/trade guarantee fund and compliance before trading resumes.
Renewal of recognition is granted to Bhubaneshwar Stock Exchange Limited under Section 4 of the Securities Contracts (Regulation) Act for 5 June 2002 to 4 June 2003, subject to commencement by the Exchange of a Settlement Guarantee Fund/Trade Guarantee Fund after final regulatory approval and commencement of trading only after that requirement is met, and subject to compliance with the actions and measures detailed in the regulator's letter dated 3 June 2002.

Tax exemption approval under section 10(23b) conditioned on compliance and audited accounts, subject to withdrawal for noncompliance.
Approval is granted to M/s Reliable Internet Services Ltd under section 10(23b) read with rule 2E for its cellular mobile telephone project at the Kolkata Metro Service Area, subject to compliance with section 10(23G) and rule 2E and to maintaining and furnishing audited accounts as required; the Central Government may withdraw approval if the undertaking ceases infrastructure operations or fails to maintain or produce the required audited accounts.

Research exemption approval requires maintenance of separate accounts, annual reporting to authorities, and audited submissions.
K.J. Research Foundation is approved as an Association under clause (ii) of sub section (1) of section 35 for the period 1 April 2000 to 31 March 2003, subject to maintaining separate books for research, filing an annual return of scientific research activities with the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited Income & Expenditure Account for research activities to designated authorities by 31 October each year, in addition to filing its income tax return; renewal applications must be made in triplicate and sent to the Secretary, DSIR.

Jurisdictional allocation under central excise amended: territorial divisions of Chief Commissioners and Commissioners redefined.
The Central Board of Excise and Customs, invoking sub rule (2) of rule 3 of the Central Excise Rules, 2002, amends Notification No.14/2002 CE(N.T.) by substituting Table I, Table II and Table III. The substitutions redefine territorial jurisdictions: Table I lists Chief Commissioners with their constituent commissioners; Table II prescribes precise territorial limits for each Commissioner of Central Excise (municipal wards, taluks/tehsils, districts, Union Territory areas and specified exceptions); Table III maps Commissioners (Appeals) to their subordinate commissionerates.

Demutualisation: broker members prohibited from serving as exchange office bearers to segregate ownership and management.
SEBI mandates separation of ownership, management and trading membership and requires exchanges to amend their instruments to prevent broker members from serving as office bearers. SEBI amends CSE's Articles of Association by deleting the word "elected" in Article 82E(i) and adding a proviso that no broker member shall be President, Vice President or Treasurer, aiming to harmonise governing board composition and advance corporatisation and demutualisation.

Import licensing for films now governed by public notice procedures, bringing film media imports under relevant chapter controls.
An amendment inserts sub paragraph (2) in the import licensing notes of the ITC(HS) classification, stating that import of films, including videotape, compact video disc, laser video disc or digital video disc, shall be governed by the provisions of the specified public notice appended to the relevant chapter; the change is effected under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 and paragraph 2.1 of the Export and Import Policy, 2002 2007.

Excise duty amendment adds specific tariff entries for petrol and diesel, altering the duty schedule and effective soon.
Amendment inserts two tariff entries into the existing excise notification: entry 32B for motor spirit (petrol) and entry 32C for high speed diesel oil, specifying the applicable excise duty columns in the notification's Table and taking effect from the stated commencement date.

Nidhi notification amendment removes a specified sub item, modifying applicable Companies Act notification provisions.
The Central Government amends the Government notification of 26 July 2001 concerning Nidhis by omitting sub item (ii) of item (B) in clause (1), sub clause (i), thereby modifying the operative provisions of that notification under powers conferred by the Companies Act.

Tax exemption notification: Petroleum Sports Control Board recognised under income-tax clause, subject to application, investment, distribution and business conditions.
The Central Government notified the Petroleum Sports Control Board for tax exemption purposes under clause (23) of section 10 for assessment year 2002-2003, subject to conditions: the Board must apply or accumulate income solely for its objects in accordance with the modified rules; refrain from investing or depositing funds except in permitted forms (with limited tangible-form exception for certain voluntary contributions); not distribute income to members except as grants to affiliated institutions; and exclude business profits unless the business is incidental and maintained in separate accounts.

Charitable trust notification: tax exemption granted subject to exclusive application of income and compliance obligations.
Notification grants charitable trust recognition to the Sri Ganapati Sachchidananda Avadhoota Datta Peetha Trust (R), Mysore under clause (23C)(v) of section 10 for specified assessment years, subject to conditions: apply or accumulate income wholly and exclusively for trust objects; restrict investments to modes specified in section 11(5) (excluding certain voluntary contributions held as jewellery, furniture, etc.); deny benefit for business income unless incidental with separate books; file regular returns; and on dissolution transfer surplus assets to a like charitable organisation.

Charitable status recognition under tax law grants exemption subject to exclusive income application and compliance conditions.
Recognition of Gujarat Ecological Education Research (GEER) Foundation is notified under section 10(23C)(iv) for assessment years 1999-2000 to 2001-2002, subject to conditions: exclusive application or accumulation of income to its objects; investments limited to modes specified by law (excluding certain voluntary contributions held as chattels); business income taxable unless incidental with separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like charitable organization on dissolution.

Tax exemption notification under clause 23C(iv) designates Research and Information System as charitable, subject to compliance conditions.
Notification designates the Research and Information System for the Non-Aligned and other Developing Countries, New Delhi as a notified institution under clause (23C)(iv) of section 10 of the Income-tax Act for the assessment years 1999-2000 to 2001-2002, subject to conditions: exclusive application or accumulation of income to its objects; investment restrictions to forms in section 11(5) (except certain voluntary contributions); business income excluded unless incidental and separately maintained; regular filing of returns; and transfer of surplus on dissolution to a similar charitable organization.

Tax exemption notification grants conditional recognition to a charitable trust, imposing investment, accounting, return filing, and dissolution rules.
Notification grants tax exemption recognition to Sundaram Charities for the specified assessment years subject to conditions: apply or accumulate income exclusively to its objects; restrict investments to statutory modes; exclude business income unless incidental and maintained in separate books; file returns regularly; and on dissolution transfer surplus assets to a like charitable organization.

Industrial park approval under section 80 IA: subject to area allocation, infrastructure expenditure and compliance conditions.
The Central Government notifies M/s. Tata Housing Development Company Limited's undertaking as an industrial park under clause (iii) of sub section (4) of section 80 IA, approving the project subject to the schedule's terms: specified location, permitted activities, allocable area proportions, caps on commercial use, definitions of allocable area and infrastructure, minimum infrastructure expenditure thresholds, single unit occupancy limits, requirement for separate foreign investment approvals, continuity of operation while tax benefits are claimed, and government power to withdraw approval for non compliance or nondisclosure.