Rescission of exemption notifications: administrative withdrawal terminates prior exemption instruments under excise authority.
The Central Government rescinds specified prior notifications concerning miscellaneous exemptions under the Central Excises framework, invoking its administrative powers under excise and finance legislation and acting in the public interest, thereby terminating the operative effect of those notifications and the exemptions they conferred.

Manufacture in bond allowed for goods subject to special excise duty, subject to the same bond conditions.
Manufacture in bond from goods liable to special duty under the Finance Bill is permitted for the purposes of that clause where bonded manufacture is already allowed under the Central Excise Rules, and such permission is subject to the same conditions and procedural requirements governing bonded manufacture under the relevant rule.

Rebate of special excise duty allowed on exports where excise duty rebate is permitted, subject to same conditions.
A rebate of special duty of excise shall be allowed on goods exported outside India (excluding Nepal and Bhutan) where a rebate of excise duty on such goods under the Central Excises and Salt Act has been allowed on export; the special duty rebate is subject to the same conditions as the excise duty rebate.

Exemption from special excise duty for goods made in free trade zones or export-oriented units now effective.
Exemption from special excise duty is granted for goods falling under the Central Excise Tariff Schedule when produced or manufactured in a free trade zone or in a hundred per cent export oriented undertaking, relieving such goods from the whole of the special duty of excise leviable under the specified sub clause.

Set-off of special excise duty: goods exempted to extent of duty already paid on inputs when corresponding notifications issued.
Exemption allows set-off of special duty of excise paid on specified inputs against the special duty leviable on the final goods manufactured from those inputs, reducing the duty on final goods by an amount equivalent to duty already paid on inputs, but only where the Central Government issues a notification exempting those goods to the equivalent extent for the specified inputs.

Special duty of excise amended to reflect Finance Bill provision given provisional force, updating Modvat notification references.
The notification amends an earlier Modvat-related excise notification by adding a clause to cover the special duty of excise enacted by sub-clause (1) of clause 4 of the Finance Bill, given force of law under the Provisional Collection of Taxes Act, and substitutes references in the first proviso to replace the prior special duty reference with the special duty under that Finance Bill provision.

Exemption from special excise duty removes duty liability for specified tariff-schedule goods under Finance Act for a limited period.
Notification No. 6/91-C.E., dated 5 March 1991, exempts all goods listed in the Central Excise Tariff Schedule from the whole of the special excise duty leviable under the Finance Act, 1990, the exemption being exercised under central excise statutory powers on public interest grounds and applying for the period from 5 March 1991 to 31 March 1991.

Special excise duty effective rates limit excess levy, with listed tariff items exempt and others subject to a residual rate.
Notification exempts goods from that portion of special excise duty exceeding specified effective rates. Goods within listed tariff headings are assigned a nil effective rate; all other goods in the Schedule are subject to an effective rate equal to five per cent of the excise duty chargeable under the Central Excises and Salt Act, subject to any applicable notifications.

Research institution approval under tax law requires separate research accounts and annual audited returns to designated authorities.
Approval is granted to Ghandian Institute of Studies as an institution for research under the income-tax provision, conditional on maintaining a separate account for scientific research receipts, furnishing annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the local Commissioner/Director of Income-tax (Exemptions) by 30th June each year.

Approval under Section 35(1)(ii) for scientific research subjects organisation to separate accounts, annual returns and audited filings.
Approval is granted to Escorts Heart Institute and Research Centre as an Association under Section 35(1)(ii) of the Income-tax Act for scientific research, conditioned on maintaining a separate account for research receipts, furnishing annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the relevant Commissioner/Director of Income tax (Exemptions) by 30th June each year.

Approval under section 35(1)(ii): institution recognised for scientific research subject to annual accounting and reporting conditions.
Approval under section 35(1)(ii) is granted to Jayramdas Patel Scientific Research Foundation for 1-4-1990 to 31-3-1991, subject to maintaining a separate account for research receipts, filing annual research returns with the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director-General (Exemptions), the Secretary, and the relevant Commissioner/Director by 30 June; an extension application procedure with timing and copy requirements is prescribed.

Research institution approval under section 35(1)(iii) requires annual DSIR returns and submission of audited accounts.
Ganesh Scientific Research Foundation is approved as an Institution under the Income-tax provision for scientific research, conditional on maintaining a separate account for research receipts, filing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) by 30 June each year.

Approval under section 35(1)(ii): institutional research status subject to annual returns by end-May and audited accounts by end-June.
Forbes Research Centre is approved as an Institution for research-related tax purposes on condition that it maintains a separate research account, files annual returns of scientific research activities with the Secretary, Department of Scientific and Industrial Research by 31st May each year, and submits audited annual accounts to the Director-General (Exemptions), the Secretary, DSIR, and the relevant Commissioner/Director by 30th June annually; approval covers 1 April 1990 to 31 March 1991 and extension applications must follow the prescribed procedure.

Exchange rate amendment: Canadian dollar valuation updated for customs valuation purposes, effective from the notified date.
The amendment replaces the Schedule entry for serial No. 4, revising the exchange rate applicable to Canadian Dollars for customs and stamp purposes under the cited statutory powers, and declares the revised rate effective from the subsequently notified date; the substitution amends Notification No. 80/90-NT-Cus. to establish the operative rate for valuation and related non tariff customs applications.

Mutual fund recognition: GIC Mutual Fund and its subsidiaries specified as a mutual fund under income-tax exemption provisions.
The Central Government specified "GIC Mutual Fund", set up by the General Insurance Corporation of India, as a Mutual Fund of a public financial institution, and included its four wholly owned insurance company subsidiaries within that specification for assessment year 1991-92 and subsequent assessment years under the income-tax exemption provision.

Customs notification amendment removes specified sub item from clause b, changing airport loading and unloading rules.
The Central Government, exercising powers under the Customs Act, amends Notification No. 6/89 Customs (N.T.) by omitting item (iv) in clause (b), thereby modifying the notification's provisions concerning loading and unloading of goods at customs airports.

Transferee notification requirement preserves tax proviso benefit for specified bond transfers when the transferee notifies the issuer promptly.
The Central Government specifies secured, redeemable non-convertible private placement bonds issued by the National Hydroelectric Power Corporation Limited as specified bonds for the proviso to section 193; the proviso benefit is admissible on transfer by endorsement or delivery only if the transferee informs the issuing corporation by registered post within sixty days of the transfer.

Specified secured redeemable non-convertible bonds: tax benefit under section 80L conditioned on transferee's notice to issuer.
Central Government specifies 7 year secured redeemable non convertible CIL bonds (F Series), issued by National Hydroelectric Power Corporation Limited, as qualifying securities for the tax concession under clause (ii) of sub section (1) of section 80L of the Income tax Act. The notification conditions access to the tax benefit on transfer: the transferee must inform the issuing Corporation by registered post within sixty days of transfer for the benefit to be admissible.

Tax proviso benefit for specified non-convertible bonds requires transferee notice by registered post within a prescribed time.
Central Government specifies certain secured, redeemable non-convertible bonds issued by Neyveli Lignite Corporation Limited under the proviso to section 193 of the Income-tax Act. The proviso's benefit on transfer of those bonds by endorsement or delivery is admissible only if the transferee informs the issuing corporation by registered post within sixty days of the transfer.

Specified taxable secured redeemable NLC bonds require transferee notification by registered post to claim tax benefit on transfer.
Central Government specifies 7-year 13% taxable secured redeemable non-convertible NLC bonds (F Series), issued by Neyveli Lignite Corporation Limited, as qualifying instruments under clause (ii) of sub section (1) of section 80L of the Income tax Act. The tax benefit on transfer by endorsement or delivery is admissible only if the transferee informs the Corporation by registered post within sixty days of the transfer.