Excise duty exemption for copper and aluminium blanks used in mint coin manufacture removes specified tariff duty.
Exemption from excise duty is granted for blanks and sheets of copper and aluminium produced by the mint and used within the factory of production for manufacture of coins, removing the whole of the excise duty specified in the Central Excise Tariff under the rule-making powers of the Central Excise Rules.

Exemption amendment adds National Aeronautical Laboratory to central excise miscellaneous exemptions under rule-based notification.
Amendment to Notification No. 184/86-C.E. adds a new Serial No. 5 in the Annexure, specifying National Aeronautical Laboratory as an exempted entity under the miscellaneous exemptions created pursuant to sub-rule (1) of rule 8 of the Central Excise Rules, 1944.

Exemption scope expanded: wording now covers use in the manufacture or repair of ocean-going vessels under central excise rules.
Amendment broadens the exemption's scope by substituting the words "intended for use in the manufacture of ocean-going vessels" with "intended for use in the manufacture or repair of ocean-going vessels", thereby extending applicability to goods used in repair as well as manufacture.

Administrative authority substitution: condition (iii) now names Department of Rural Development replacing Ministry of Works and Housing.
The amendment modifies condition (iii) of Notification No. 158 Customs dated 2 April 1987 by substituting the words "Ministry of Works and Housing" with the words "Department of Rural Development," effected under the power conferred by sub section (1) of Section 25 of the Customs Act, 1962.

Customs jurisdiction extended to specified territories; Collector and subordinate customs officers are designated to exercise authority there.
The notification substitutes Item No. 8 to designate the Union Territory of Delhi, the State of Haryana and the NOIDA Export Processing Zone at Ghaziabad as a customs jurisdiction under the Collector of Customs, Delhi, with Deputy Collectors and Assistant Collectors of Customs working under the control of the Collector; the NOIDA Export Processing Zone boundaries are as specified by the earlier notification referenced.

Income tax rates and compliance reforms: new rate schedule, TDS regime, capital gains and Settlement Commission restructuring.
The Act revises income tax charging for the 1987-88 year by prescribing new rates (First Schedule), detailing aggregation rules for net agricultural income and methods for calculating income tax and advance tax, and enacts extensive amendments to definitions, capital gains computation (section 48), withholding obligations and TDS administration (including tax deduction account numbers and penalties), special deemed profit provisions for specified businesses, and restructuring of Settlement Commission benches and procedures, with parallel consequential changes to wealth tax and gift tax laws.

Auxiliary duty exemption: parts for initial machinery set up relieved to the extent duties exceed those on the complete article.
Exempts from excess auxiliary duty component parts of machinery imported for initial setting up, assembly or manufacture of specified articles by granting relief equal to the difference between duty on the parts and duty on the complete article; relief requires proof to the Assistant Collector of Customs and compliance with conditions in notification No. 155/86 Customs. Scope is defined by specified tariff headings and listed articles, with certain exclusions noted.

Auxiliary duty exemption for component parts of medical electronic equipment on import, conditional on proof and prior notification requirements.
Exempts from auxiliary duty certain component parts imported for manufacture of electronic medical equipment, excluding parts with specified semiconductor or capacitor components; relief is limited to the excess over the auxiliary duty rate applicable to the complete equipment and is conditional on proof to the Assistant Collector of Customs and compliance with prior notification conditions.

Partial auxiliary duty exemption for imported cinematograph film prints limited to a proportion of print cost plus freight and insurance.
Notification exempts imported cinematograph films under Heading 37.06 from that portion of the auxiliary duty that exceeds an amount calculated at a prescribed rate of value limited to the cost of the print and the freight and insurance charges incurred in respect of that print, thereby restricting the assessable base for auxiliary duty to those value components.

Auxiliary duty exemption caps customs levy on imported aeroplane simulator parts to the rate for aircraft component parts.
Exemption limits auxiliary customs duty on imported component parts of simulators of aeroplanes and other aircrafts by capping duty at the rate applicable to component parts of aeroplanes or other aircrafts, under the exercise of powers conferred by Section 25(1) of the Customs Act and Section 93(4) of the Finance Act, superseding notification No. 116/87-Customs.

Partial auxiliary duty exemption limits additional customs levy to a capped share of goods' value under specified notifications.
The Central Government exempts goods that are wholly or partially exempt from basic customs duty under specified notifications from the portion of auxiliary customs duty that exceeds an amount calculated as a capped share of the goods' value as determined under customs valuation; the exemption applies only to notifications listed in the Schedule and remains subject to any conditions attached to those notifications.

Partial exemption from auxiliary customs duty reduces excess levy above specified rate on listed imported goods.
Partial exemption from auxiliary duty is granted for specified imported goods by statutory power, exempting that portion of duty in excess of the amount calculated at the rate of 25 per cent of the value of such goods as determined under customs valuation. The notification lists discrete tariff chapters and headings covering chemicals, textile products, machinery and electrical apparatus, transport equipment, cinematographic goods and certain industrial items which are eligible for the stated partial exemption when imported into India.

Exemption from auxiliary customs duty: goods already exempt from basic customs duty are relieved from auxiliary duty, subject to original conditions.
Exemption from auxiliary customs duty is granted for goods wholly or partially exempted from basic customs duty by the listed prior notifications, superseding an earlier notification. The auxiliary-duty exemption applies to the goods specified in the Schedule and is subject to the same conditions under which those goods were exempted from basic customs duty under the respective notifications.

Auxiliary duty exemption for specified imported goods removes duty liability where goods fall within listed tariff headings and definitions.
The Central Government exempts specified imported goods listed in the annexed Table from the auxiliary duty of customs leviable under section 93(1) of the Finance Act, 1987, by exercise of powers under section 25(1) of the Customs Act, 1962; applicability depends on the goods falling within the identified Chapters of the First Schedule to the Customs Tariff Act, 1975 and on fulfilment of the definitional criteria set out for fuel and instrument classifications.

Auxiliary duty exemption caps customs levy on specified imported goods, limiting duty payable above prescribed rates.
The Central Government limits auxiliary customs duty on specified imports by exempting from duty any amount in excess of prescribed caps. An annexed Table sets fixed per-item caps for crude petroleum and for certain stepper motors and a percentage-of-value cap for all other goods; valuation for the percentage cap follows customs valuation rules. The notification supersedes an earlier notification and preserves any existing exemption under other notifications, operating as an excess-duty exemption rather than a complete duty waiver.

Customs exemption scope expanded to include Chapter 85 alongside Chapter 84, broadening covered systems under notifications.
Under authority of section 25(1) of the Customs Act, 1962, the government amends two miscellaneous exemption notifications to include Chapter 85 alongside Chapter 84: Notification No. 48/84 is amended by inserting "or Chapter 85" after "Chapter 84," and Notification No. 397/86 is amended by substituting "systems falling under Chapter 84" with "systems, which systems fall under Chapters 84 or 85," thereby expanding the scope of the exempted goods/systems.

Rescission of notification under Central Excise Rules cancels a previously issued exemption order by government action.
The Central Government, invoking the powers conferred by sub-rule (1) of rule 8 of the Central Excise Rules, rescinds the earlier exemption notification issued by the Ministry of Finance (Department of Revenue), withdrawing the miscellaneous exemption previously granted.

Exemption to specified man-made fabrics establishes tiered excise rates by value per square metre under amended tariff table.
Amendment substitutes a revised tariff table prescribing excise exemption and charge rules for certain man-made fabrics under headings 54.09, 55.08, 54.12 and 55.11, made under rule 8(1) of the Central Excise Rules, 1944 and section 3(3) of the Additional Duties of Excise Act, establishing tiered rates linked to the value per square metre with specific per square metre charges for lower value bands and ad valorem treatment for higher value bands.

Exemption amendment: specified cotton fabrics entry removed, altering prior central excise notification's tariff exemption framework.
The Central Government, invoking rule 8(1) of the Central Excise Rules, 1944 and section 3(3) of the Additional Duties of Excise Act, 1957, amends Notification No. 57/87-Central Excises (1 March 1987) by omitting S. No. 04 and the entries relating thereto from the Table annexed to that notification, effecting a textual deletion from the schedule of exemptions for specified cotton fabrics.

Reduced duty for specified cotton fabrics: levy set proportionate to duty under textile heading, subject to yarn count and value criteria.
The Central Government substitutes the Table in the earlier notification to prescribe that fabrics under sub headings 5207.90 and 5208.19 shall attract a charge equal to twenty five per cent of the duty leviable under heading No. 52.06, with the applicable duty determined according to any notification in force linking duty to the fabric's average yarn count and value per square metre.