Provisional anti-dumping duty on imported lead acid batteries to offset dumped pricing and injury to domestic industry.
Provisional anti-dumping duty is imposed on imports of lead acid batteries from Taiwan, Singapore and Hong Kong, calculated as the difference between specified per-kilogram benchmark amounts for battery types and the landed value; industrial batteries from M/s Shenyang Matsushita Storage Battery Company and M/s BB Battery Company Limited exported via specified entities are excluded. The duty is effective up to and inclusive of 21st November 2002, payable in Indian currency, with "landed value" defined by the Customs Act and exchange rates as notified by the Ministry of Finance for the bill of entry date.

Import concession for repaired dies allows preferential duty treatment when returned in exchange, subject to time and drawback conditions.
Adds a concessional customs entry for dies for drawing metal returned after repair abroad in exchange for similar worn dies exported for repair, subject to Condition 28A. Condition 28A requires re-import within one year of export and absence of drawback on export, and prescribes that duty be levied as the aggregate of labour charges for repair, cost of repair materials, other repair charges paid by the importer, and insurance and freight charges both ways.

Demutualisation rule: broker members barred from serving as exchange office bearers under SEBI directive to corporatise governance.
SEBI amends the Articles of Association of the Calcutta Stock Exchange to remove the word "elected" in the relevant article and to add a proviso that no broker member of the exchange shall be an office bearer, i.e. President, Vice President or Treasurer, thereby segregating ownership, management and trading membership to expedite corporatisation and harmonise governing board composition.

Anti-dumping duty on Vitamin AD3 imports imposed, excluding specified exporter, calculated against landed value.
Imposition of anti-dumping duty on Vitamin AD3 500/100 imports from the European Union and Singapore, excluding consignments exported by M/s BASF Aktiengesellschaft, Germany through M/s BSEA, Singapore; duty calculated as the difference between the notified per kilogramme amount and the assessable landed value, levy payable in Indian currency, retrospective to the provisional duty date; definitions set for landed value and applicable rate of exchange based on bill of entry date.

Demutualisation: prohibition on broker members serving as exchange President or Vice President to enforce governance separation.
SEBI substituted Article 112 of UPSE's Articles of Association to require election of the President and Vice President by the Board within ten days after the annual general meeting, each to serve one year terms with re eligibility subject to a one year cooling off after two consecutive terms, and to prohibit any broker member of the exchange from being elected President or Vice President, pursuant to its powers under the Securities Contracts (Regulation) Act to implement demutualisation and corporatisation.

Import exemption for broadcast vehicles permits telecasting-equipped vans if fitted with right-hand steering controls.
The ITC(HS) Classification is amended to exempt the import of Digital Satellite News Gathering Vans and Outdoor Broadcasting Vans fitted with telecasting equipment from the conditions at Sl. No. 1 and 2 of Chapter 87 import licensing notes, provided such vehicles (other than two- and three-wheelers) have right-hand steering and controls.

Specification under section 80L: Certain IDBI Flexibonds II debentures designated as bonds for tax purposes.
The Central Board of Direct Taxes, by notification dated 17 May 2002, specifies certain debentures issued by the Industrial Development Bank of India, Mumbai, in its Flexibonds II Series (200102) as debentures "in the nature of bonds" for purposes of section 80L of the Income tax Act, 1961. The notification identifies three instruments - Regular Income Bond, Growing Interest Bond, and Infrastructure (Tax saving) Bond - each of face value Rs. 5,000 and each described by distinctive number ranges and option designations.

Specified debentures under tax deduction provision designated as qualifying bonds, enabling tax favored treatment on listed issues.
The notification designates specified debentures issued in the Flexibonds II public issue-Regular Income Bonds (Options A-D), Growing Interest Bonds, and Infrastructure (tax saving) Bonds-with defined distinctive numbering ranges and a uniform face value as qualifying bonds for the purposes of the section 80L tax deduction provision, thereby administratively recognizing those instruments as eligible for the tax treatment applicable to designated bonds.

Tariff values revised for palm oil, palmolein and brass scrap, substituting updated per tonne rates under customs law.
The Central Government, under section 14(2) of the Customs Act, 1962, substitutes the Table in Notification No.36/2001-Customs (N.T.) by issuing Notification No.29/2002-Customs (N.T.) dated 16 May 2002, fixing tariff values in US dollars per metric tonne for crude palm oil, RBD palm oil, RBD palmolein, crude palmolein and brass scrap (all grades) as the operative schedule for customs valuation of those imported goods.

Import licensing for radio communication equipment now requires a WPC Wing licence for importation under the amended ITC(HS).
The amendment inserts an import licensing note to Chapter 85 of the ITC(HS) Classification stating that items formerly under erstwhile Code 852520 09 ("Other radio communication equipment including VHF, UHF and microwave communication equipment") are not permitted to be imported except against a licence to be issued by the WPC Wing of the Ministry of Communication.

Exemption fee for hotel companies: applications for Schedule VI disclosure relief must be filed with prescribed fees.
The amendment requires every application by a hotel company under sub-section (4) of section 211 for exemption from paras 3(i)(a) and 3(ii)(d) of Part II of Schedule VI for a three-year period to be accompanied by the appropriate fee specified in Table IV, which classifies fees according to authorised share capital bands and is a precondition to the Central Government's consideration.

Export procedure to Nepal: amended documentation and cross-border customs certification required for goods under central excise.
Amendment requires production of goods before the Nepalese Customs officer at the corresponding border check post with the original invoice; the Nepalese officer must complete prescribed entries, endorse receipt of goods in Nepal, and return the duplicate invoice to the Indian land customs officer. Annexure II is replaced by a four-copy invoice form specifying exporter and importer details, package and tariff particulars, duty information and a four-step certification sequence: exporter declaration, Central Excise sealing, Indian border identification, and Nepalese customs receipt and assessment with official endorsement.

Foreign inward remittance certificate requirement or irrevocable letter of credit required before export to Nepal or Bhutan.
Importers in Nepal or Bhutan must make full payment before export by furnishing a Foreign Inward Remittance Certificate from an RBI authorized foreign exchange bank or by opening an irrevocable letter of credit in favour of the Indian exporter. When the export is against an irrevocable letter of credit, that circumstance is to be stated before provisions requiring the exporter to furnish specified documentation.

Tax-exempt notification requires applying income to charitable objects, restricted investments, separate business accounts, and return filing compliance.
Notification grants tax-exempt status to Ramakrishna Math, West Bengal subject to conditions: apply or accumulate income wholly and exclusively for its objects; restrict investments or deposits to forms permitted under the Income-tax law; exclude business profits unless incidental and maintained in separate books; regularly file income-tax returns; and on dissolution transfer surplus assets to a charitable organization with similar objectives.

Tax exemption notification requires exclusive application of income and specified investment, accounting, filing, and dissolution conditions.
Notification designates Ramakrishna Mission, West Bengal as eligible for tax exemption under clause (23C)(iv) for specified assessment years, on conditions: income must be applied or accumulated solely for the institution's objects; funds may not be invested except in forms permitted by section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); business income is excluded unless incidental and separately accounted; the institution must file returns regularly; and on dissolution surplus assets must pass to a like charitable organisation.

Remittance limits revised; NRIs and PIOs may remit inherited assets with tax clearance through authorised dealers.
The amendment defines Non-Resident Indian (NRI), replaces the prior rupee limit with an annual foreign-currency ceiling for remittance of assets, and permits NRIs/PIOs to remit inherited assets up to that annual ceiling on production of documentary evidence and a tax clearance/no-objection certificate; all installments must be made through the same authorised dealer. Authorised dealers may effect eligible remittances without prior Reserve Bank approval, and a related provision concerning remittances exceeding the annual ceiling on account of legacy, bequest or inheritance to persons permanently resident abroad is substituted.

Customs tariff amendment: substitution of tariff entry for serial number four under the existing notification update.
The Central Government has amended Notification No.21/2002 Customs by substituting, in the Table against S. No. 4, the entry in column (2) with the tariff designation "0406.90"; the change is effected by Notification No.52/2002 Customs under the powers of sub section (1) of section 25 of the Customs Act, 1962 as a further modification to the principal notification.

Rescission of Customs Notification - prior exemption instrument revoked in the public interest by governmental notification.
The Central Government, invoking its powers under the Customs Act, rescinds Notification No. 22/2002 Customs (dated 1 March 2002) in the public interest by issuing Notification No. 51/2002 Customs dated 13 May 2002, thereby revoking the earlier Gazette published exemption instrument.

Effective excise rate reduced for goods cleared by specified North East refineries, limiting duty liability to a capped portion.
Exempts First Schedule goods cleared from four specified North East refineries from so much of each excise duty as exceeds the amount calculated at fifty per cent. of that duty, thereby capping the payable excise at fifty per cent.; applies to duty of excise, special duty, additional duties under the Finance Acts and special additional excise duty. The exemption also covers removals under bond to a warehouse and later removals on payment of fifty per cent. of the duties.

Special additional excise duty exemption for ethanol blended petrol and bio-diesel blends under specified standards
Special additional excise duty is exempted, subject to the blend composition and Bureau of Indian Standards specifications prescribed in the notification, for specified motor spirit, ethanol blended petrol and high speed diesel blended with bio-diesel. The table prescribes Nil rate for ethanol blended petrol at multiple ethanol percentages and for high speed diesel oil blended with bio-diesel up to 20% by volume, while motor spirit intended for use in ethanol blended petrol is covered at a concessional rate where applicable. The notification also defines the relevant duties and tax references for the exemptions and supersedes the earlier notification on the subject.