Interest on delayed customs duty: rate fixed under section 47, superseding earlier notification and applying to warehousing dues.
Exercising the power under section 47(2) of the Customs Act, the Central Government has superseded the earlier notification and fixed an annual rate of interest that applies to delayed payment of customs duty, including warehousing dues, thereby replacing the prior notification and establishing the operative interest rate for compliance under the Act.

Rescission of Excise Notification: previous tariff reduction withdrawn under Central Excise Act altering effective duty rates.
The Central Government, exercising powers under the Central Excise Act, has rescinded Notification No. 18/2002 Central Excise (published in the Gazette on the first of March), thereby terminating the legal force and administrative effect of that prior excise tariff notification concerning duty rates and miscellaneous exemptions.

Interest rate on delayed customs duty fixed under section 28AB for special cases by central government; supersedes prior notification
The Central Government, in exercise of powers under the Customs Act, 1962, fixes the rate of interest for delayed payment of customs duty in special cases at fifteen per cent per annum for the purposes of the applicable statutory provision and supersedes Notification No. 33/2000-Customs (N. T.), dated 12 May 2000.

Interest rate for delayed customs duty fixed under section 28AA, superseding prior notification and establishing statutory interest obligation.
Notification No. 26/2002-Customs (N. T.) fixes the rate of interest at fifteen per cent per annum for delayed payment of customs duty under section 28AA of the Customs Act, 1962, and expressly supersedes Notification No. 32/2000-Customs (N. T.).

Interest rate on delayed customs refunds fixed under section 27A; prior notification superseded, new statutory rate specified.
The Central Government, exercising powers under section 27A of the Customs Act, 1962, fixes the rate of interest at eight per cent. per annum for the purposes of interest on delayed customs refunds and expressly supersedes the earlier related notification.

Statutory interest under central excise fixed by notification, prescribing an annual interest rate and superseding earlier notice.
Fixes the rate of interest for delayed payment of central excise duty by exercising powers under statutory interest provisions of the Central Excise Act and replaces the earlier notification dated 12 May 2000 by prescribing an annual interest rate of fifteen per cent for the purposes of the relevant provision; the instrument is regulatory and notes a later supersession reducing the rate.

Interest rate fixed for central excise liabilities prescribing the statutory annual charge and superseding prior notification.
Fixes the annual rate of interest for central excise liabilities at fifteen per cent by exercising the Central Government's power under the Central Excise Act, superseding the prior May 2000 notification and prescribing the statutory interest chargeable on excise dues.

Interest rate fixation under section 11BB establishes a prescribed annual interest rate for central excise recovery, later superseded.
Prescribes a statutory annual interest rate for purposes of the Central Excise Act, 1944 by superseding an earlier notification and establishing an administrative rate for recovery of excise dues; notes that a later notification subsequently revised the prescribed rate.

Research exemption under section 35(1)(ii): approval with annual reporting, audit obligations and renewal application procedure
Approval under section 35(1)(ii) is granted to Thapar Centre for Industrial Research & Development for 1 April 2000 to 31 March 2003 as an "Association," subject to maintaining separate research books, filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research activities to designated income-tax and departmental authorities by 31 October, in addition to the regular income-tax return.

Research exemption approval requires separate research accounts, annual DSIR return and audited research accounts submission by prescribed deadlines.
Approval under Section 35(1)(ii) is granted to the Indian Register of Shipping as an Association subject to maintaining separate books for research, filing an annual scientific research return to the Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research to designated tax and research authorities by 31 October, in addition to the regular income tax return; renewal applications must be filed in triplicate through the tax authority and sent in three copies to the research department.

Income tax exemption approval for infrastructure projects granted, subject to compliance, audited accounts and reporting requirements.
Approval is granted to Fascel Ltd. for its cellular mobile telephone services project in Gujarat under the Income-tax Act exemption scheme for infrastructure undertakings and the corresponding rule, subject to compliance with statutory provisions, maintenance and audit of books of account, furnishing of the prescribed audit report, and the Central Government's power to withdraw approval if the enterprise ceases operations or fails to meet the audit and reporting conditions.

Approval under section 35(1)(ii) enables institutional research exemption subject to annual reporting and audited accounts requirements.
Approval under section 35(1)(ii) was granted to M/s Ramakrishna Mission Seva Pratishthan for 1.4.2001-31.3.2004, subject to maintaining separate books for research, filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May each year, and submitting audited annual accounts and audited income & expenditure accounts for the research activities to designated tax and DSIR authorities by 31 October each year, in addition to the institution's income tax return.

Service tax inclusion: Armenia added to the Notification schedule under amendment governed by statutory provision.
Notification No.7/2002, issued under the power of section 93 of the Finance Act, 1994, amends Notification No.1/2001-Service Tax by inserting a new serial number 84 in the Schedule immediately after serial number 83, the new entry specifying "Armenia".

Service tax amendment adds Armenia to the schedule, modifying the territorial scope of the service-tax notification.
The central government, exercising statutory power under the Finance Act, issues a notification amending the schedule of an earlier service-tax notification by inserting a new serial entry (No. 66) identifying "Armenia" after serial number 65, thereby adding that territory to the notification's schedule.

Diplomatic telephone exemption applies to Armenia embassy and diplomatic mission members' phones under amended service tax notification
The amendment inserts proviso clause (vii) to Notification No.5/96 specifying that the entry at serial No.98 relating to Armenia is applicable only to telephones of the Embassy and telephones of members of the mission holding diplomatic rank, and adds a corresponding Schedule entry for serial No.98 (Armenia) after serial No.97.

Companies rules amendment increases prescribed fee in rule 20, effective mid May, under powers of section 642.
Amendment revises rule 20 of the Companies (Central Government's) General Rules and Forms, substituting the previously specified fee with a higher amount; enacted under the powers of section 642(1)(a) and (b) of the Companies Act, 1956, and given a specified commencement date in May 2002.

Specified capital gains bonds: transfer benefit requires transferee to notify issuer by registered post within sixty days.
The Central Government designated the NABARD Capital Gains Bonds issued by the National Bank for Agriculture and Rural Development, Mumbai, as qualifying instruments for proviso tax treatment; if such bonds are transferred by endorsement or delivery the transferee must inform the Bank by registered post within sixty days of the transfer for the benefit to be admissible.

Relief and rehabilitation of handicapped individuals added to tax-exempt charitable activities under income-tax rules, expanding eligibility.
The Central Board of Direct Taxes amends the Income-tax Rules, 1962 by inserting item (s) in clause (i) of Rule 11K to add relief and rehabilitation of handicapped individuals to the enumerated purposes; the Income-tax (Sixth Amendment) Rules, 2002 take effect on publication in the Official Gazette.

Diplomatic telephone exemption confined to embassy telephones and mission members of diplomatic rank under amended service tax notification.
The notification is amended to insert a proviso clause restricting the benefit for Serial No.97 (Sri Lanka) so that it applies only to telephones of the Embassy and members of the mission holding diplomatic rank; a corresponding schedule entry for serial 97 (Sri Lanka) is also added under the government's statutory amendment power.

Tax exemption approval under section 10(23G) granted to power project, subject to compliance and audit conditions.
Approval is granted to a 335 MW liquid-fuel power generation project at Kondapalli by Lanco Kondapalli Power Limited for assessment years 2002-2003 through 2004-2005, conditional on conformity with the tax provision and implementing rule. The Central Government may withdraw approval if the undertaking ceases to carry on an infrastructure facility, fails to maintain books of account and obtain audits as required, or fails to furnish the prescribed audit report.