Exchange rate determination: revised import currency conversion rates take effect under Customs Act, updating prior notification.
Determination of the rate of exchange for conversion of foreign currencies for imported goods, effective 1 July 2006, under the authority of the Customs Act, superseding the earlier notification and prescribing specific conversion rates in Schedule I (per unit) and Schedule II (per one hundred units) for use in customs valuation and related import calculations.

Anti-dumping duty continuation on hexamine extended pending review, amendment mandates continued duty and payment in Indian currency.
The Central Government amends the earlier notification to extend the continuation of anti-dumping duty on Hexamine from Saudi Arabia and Russia pending review, substituting the prior paragraph to make the duty effective up to the newly specified terminal date and to require that the duty be paid in Indian currency, exercising powers under the Customs Tariff regime and applicable anti-dumping procedural rules.

Money-laundering information sharing permits the Financial Intelligence Unit to furnish data to specified enforcement and regulatory agencies.
The Central Government specifies that the Director, Financial Intelligence Unit, India, and any authority designated by that Director may furnish or cause to be furnished information received or obtained by them to specified authorities for the purpose of performing their functions. The notification lists enforcement, intelligence, security, investigative, regulatory, tax, vigilance, and other specialised agencies as permitted recipients of such information under the Prevention of Money-laundering Act.

Service Tax Valuation: replacement of air travel agent with rail travel agent alters taxable service valuation scope and applicability.
Amendment to the Service Tax (Determination of Value) Rules substitutes "rail travel agent" for "air travel agent" in rule 6(2)(iii), effecting a change in terminology that governs the valuation of the specified travel agency service; the amendment takes effect on publication in the Official Gazette under the rule making authority granted by the Finance Act.

Security receipts: FII investment permitted with specified exceptions; registration term shortened and fees revised.
The amendment reduces FII registration validity from five years to three years and expressly permits investment in security receipts with specified exceptions: regulatory conditions in sub regulation (2) do not apply to investments in security receipts issued by securitisation or asset reconstruction companies under the relevant Act, FIIs may not invest in security receipts on behalf of sub accounts, and purchases or sales of security receipts are excluded from clause (c); statutory definitions from the Securitisation and Reconstruction Act are adopted. The Second Schedule fee entries are increased.

Waiver of interest allowed where return filed and principal tax paid, subject to specified discretionary conditions.
Senior tax officers may reduce or waive interest charged for delayed payment or shortfall of advance tax only after the return is filed and the principal tax paid; waiver applies where delay is caused by search seizures, unforeseen income paid subsequently, retroactive legal changes creating tax liability, or voluntary filing after unavoidable prevention, and officers may impose further conditions.

Customs amendment substitutes expiry date in exemption table, extending applicability of the notification under statutory powers.
Amendment substitutes the expiry date in the Explanation to S.No.18 of the Table in notification No.39/96-Customs, replacing the earlier prescribed date with a later one to extend the temporal applicability of the exemption. The change is effected under the statutory power conferred by sub-section (1) of section 25 of the Customs Act, 1962 by Notification No.64/2006-Customs.

Special Economic Zone notification declares Mundra specified areas as an SEZ under the SEZ Act following approval and requirements met.
Notification under Section 4 of the SEZ Act and rule 8 of the SEZ Rules declares specified land parcels at Mundra, Gujarat, as a Special Economic Zone following grant of a letter of approval under Section 3(10) and satisfaction of the Section 3(8) conditions; it lists villages, detailed survey numbers, parcel boundaries including Mundra Port limits, and records the consolidated notified area.

Delegation of Adjudicatory Authority: Mumbai Customs Commissioner authorised to adjudicate DRI show-cause notices concerning Sagar Electronics.
Delegation of adjudicatory authority to the Commissioner of Customs (Imports), New Customs House, Mumbai, authorises that office to exercise powers and duties of specified Commissioners/Joint Commissioner for adjudicating show-cause notices issued by the Directorate of Revenue Intelligence relating to Sagar Electronics, consolidating cross-jurisdictional proceedings under the authorised Mumbai Commissioner.

Appointment of Adjudicating Authority: Commissioner designated to adjudicate DRI-issued show cause notices against specified parties.
The Central Board of Excise and Customs designates the Commissioner of Customs (Administration and Airport) to act as Commissioner of Central Excise, Kolkata III and as Commissioner of Customs (Port) for adjudicating show cause notices issued by the Directorate of Revenue Intelligence concerning M/s. Ruia Cotex Limited and other specified parties, pursuant to powers under the Customs Act and Central Excise Rules.

Common Adjudicating Authority appointment centralises adjudication for a specified customs show cause notice.
Appointment of a Common Adjudicating Authority empowers the Commissioner of Customs (Imports), Jawahar Customs House, Nhava Sheva to act as the Commissioner of Customs (Import) and Commissioner of Customs (Export), New Custom House, Mumbai, solely for adjudicating matters arising from the show cause notice issued by the Directorate of Revenue Intelligence to M/s. Vastupal Tejpal (India) and others.

Authorised courier ports now include Coimbatore, expanding the listed locations for courier import and export clearance.
Courier Imports and Exports (Clearance) Amendment Regulations, 2006 amend the definition of authorised courier port under the Courier Imports and Exports (Clearance) Regulations, 1998 by adding Coimbatore to the listed locations after Trivandrum and Cochin. The amendment took effect upon publication in the Official Gazette.

Customs exemption for white sugar: nil duty tariff entry added, enabling duty-free importation under the amended notification.
Notification No.63/2006 amends notification 21/2002 by inserting serial No.38A in the tariff Table to cover goods under headings 1701 91 00 or 1701 99 90 described as white sugar, assigning a Nil duty entry and specifying that the goods at serial No.38A are exempt on or after 1st October, 2006.

Export condition relaxation for Red Sanders logs permits limited auctioned log exports for a restricted period under amended ITC classification.
The Central Government amends the ITC (HS) Schedule by substituting S. No.154(a) of Chapter 44 and relaxes the condition against that entry to permit export of specified A, B, C and D grades of Red Sanders wood in log form obtained from the Government of Andhra Pradesh through auction, authorized for a limited period commencing 22.06.2006, issued in public interest under the Foreign Trade Policy.

Central Excise amendment alters entry for newsprint exemption, substituting column entry and modifying tariff classification.
Substitutes the entry in column (2) against S.No. 92 of Notification No. 4/2006 with "48", changing the tariff classification for the item listed at that serial number (newsprint in reels), effected by Notification No. 35/2006-Central Excise under the executive authority of the Central Excise Act.

VAT on fuel: VAT to remain calculated on pre increase petrol and diesel prices until government notification.
Value Added Tax on petrol and diesel shall be charged on pre revised prices; the increase in prices (including central duties and levies) shall not form part of the sale price for VAT purposes until the Government provides further notification, and the exclusion takes effect only when the benefit is passed on to consumers.

Continuation of Whole Time Member appointment approved, extending tenure until the specified end date or until further orders.
Approval is granted for the continuation of Shri G. Anantharaman as Whole Time Member of the Securities and Exchange Board of India, exercised by the Central Government under the SEBI Act and the Rules governing terms and conditions of service for Chairman and Members, and authorized to run until 31-8-2006 or until further orders.

Customs exemption modifies tariff table wording and substitutes product description, implementing sugar exemption through notification.
The Central Government, invoking its statutory power on public interest grounds, amends Notification No. 21/2002-Customs by substituting the word "Pulses" in column 3 of the Table against the specified serial entry, and implements an exemption for white sugar effective from the stated future date through publication in the Gazette.

Excise duty exemption for certain unpacked food preparations and waters during specified period due to prevailing non-levy practice.
The Central Government directs that the whole of the duty of excise payable under section 3 on food preparations and waters not cleared in sealed containers shall not be required to be paid in respect of such items on which the duty was not being levied during the period in accordance with the prevailing practice.

Appointment of Land Customs Stations adds Chakan-da-bagh for baggage and Salamabad for cargo clearance at designated border roads.
Amendment appoints Chakan-da-bagh as a Land Customs Station for baggage clearance and Salamabad as a Land Customs Station for cargo clearance, and inserts corresponding entries in the notification's table identifying each location and its connecting road and district.