Tax exemption notification: recognition granted with conditions on income application, permitted investments, business income, filing, and dissolution.
Notification grants tax-exempt recognition to the National Foundation of India, New Delhi under clause (23C)(iv) of section 10 for assessment years 2002-03 to 2004-05 subject to conditions: apply income solely to objects or accumulate for them, restrict investments to permitted forms (excluding certain tangible voluntary contributions), exclude business income unless incidental with separate accounts, file returns regularly, and on dissolution transfer surplus to a like-minded charitable organisation.

Research exemption approval under Income Tax Act requires separate research accounts, annual scientific return and audited accounts submission.
Approval recognizes M/s Indraprastha Cancer Society & Research Centre as an Institution for research-related tax exemption for the notified period, subject to maintaining separate research accounts (unless an Association), furnishing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited research income & expenditure accounts to designated tax and scientific authorities by 31 October each year, plus filing the tax return; renewal applications must be submitted in triplicate through and to specified authorities.

Tariff value revision fixes import valuation for crude soyabean oil and updates the customs valuation table effective immediately.
Administrative amendment substitutes the tariff-value Table in the principal Customs notification, fixing import valuation for goods listed including a specified tariff value for Crude Soyabean Oil, while retaining existing values for other listed palm oil and brass scrap entries; the notification No.22/2005-Customs (N.T.) dated 14 March 2005 takes effect on 15 March 2005.

Interest on late duty: interest accrues until payment and instalment privileges are forfeited for prolonged default.
Rule 8 now charges interest on unpaid excise duty from the day after the due date until actual payment and forfeits the monthly instalment facility where duty remains unpaid beyond thirty days, requiring payment by debit to account current and deeming nonpayment as clearance without payment. Rule 12 permits scrutiny of self-assessed duty based on returns and further enquiry and requires assessees to produce documents and records for verification. Rule 22 expands mandatory records to include accounting of goods, input services and financial statements and adopts the CENVAT Credit Rules' definitions of first and second stage dealers.

Customs amendment: substitution of tariff table column five entries for specified serial numbers to a dash under statutory authority.
The amendment directs substitution in the Table of notification No. 21/2002-Customs: entries in column (5) for serial numbers 239-242 are to be replaced at all places by the entry "-", effectuating a change to the tariff table under the enabling Customs Act powers.

Customs facility designation: Hazira added for unloading imported goods and loading export goods under notification amendment.
The Central Board of Excise and Customs amends Notification No. 62/94-CUSTOMS (N.T.) to insert Hazira (Surat) in the Table for the State of Gujarat, authorising the unloading of imported goods and the loading of export goods or any class of such goods at that facility under the powers conferred by clause (a) of sub section (1) of section 7 of the Customs Act, 1962.

Corporatisation and demutualisation exemption: national stock exchange exempt from filing a scheme, subject to regulator approval for structural changes.
The regulator specifies that National Stock Exchange, having represented itself as already corporatised and demutualised, is not required to submit a scheme for corporatisation and demutualisation, provided it does not change its corporate or demutualised structure without prior regulatory approval and complies with further conditions the regulator may impose.

Duty drawback for furnace oil announced for supplies to EOU and SEZ units under FTP schemes until further orders.
Announcement of an All Industry Rate of Duty Drawback fixing the rate at Rs. 1300 per metric tonne for furnace oil supplied by domestic oil companies to EOU and SEZ units under the schemes contained in the Foreign Trade Policy; operative until further orders under paragraph 2.1 of the FTP.

Tax exemption recognition subject to conditions on income application, investment modes, business incidental limits, filing and dissolution.
Notification designates the institution for charitable income-tax exemption, conditional on exclusive application or accumulation of income for its objects, investments or deposits only in permitted forms (with an exception for voluntary contributions maintained as jewellery or furniture), exclusion of business income unless incidental and separately accounted, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a like charitable organisation.

Tax exemption notification for charitable status conditions entitlement and compliance obligations for specified assessment years.
Central Government notifies Ramakrishna Mission, Belur Math, Howrah under clause (23C)(iv) of section 10 for assessment years 2006-2007 to 2008-2009, subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to forms specified in section 11(5) (with limited exceptions for voluntary contributions in kind); treat business income as exempt only if incidental and separately accounted; file regular income-tax returns; and on dissolution transfer surplus and assets to a similar charitable organisation.

Tax exemption recognition: Ramakrishna Math notified subject to exclusive application of income, permitted investments, filing and dissolution conditions.
Notification designates Ramakrishna Math, Belur Math, Howrah as eligible under clause (23C)(iv) of section 10 for assessment years 2006-07 to 2008-09, subject to conditions: income must be applied or accumulated exclusively for its objects; investments or deposits of funds limited to legally permitted modes (except certain voluntary contributions held as jewellery, furniture etc.); business income excluded unless incidental and separately accounted; regular filing of income-tax returns; and on dissolution surplus and assets to be given to a charitable organisation with similar objectives.

Export relaxation for shavings of shed antlers permits temporary export of chital and sambhar antler products under FTP.
A relaxation of export conditions is prescribed to permit shipments of shavings of shed antlers of Chital and Sambhar and manufactured articles made from those shavings by amending the ITC(HS) Classification; the Central Government invoked its Foreign Trade Act and Foreign Trade Policy authority to suspend the specific restriction in Schedule 2 against the identified entries and allow their export for a limited period.

Research approval under section 35 requires separate research accounts, audited income & expenditure returns, and auditor certification of scientific research.
Approval is granted to Rajiv Gandhi Foundation as an Institution for purposes of clause (iii) of sub section (1) of section 35, subject to conditions: maintain separate accounts for research (unless categorized as an Association); submit audited Income & Expenditure accounts for approved research to the Director General (Exemptions) and the Commissioner/Director having jurisdiction and to the designated assessing officer by the return due date; and furnish an auditor's certificate that the amounts incurred are for scientific research.

Anti-dumping duty rescission on Vitamin A Palmitate follows review finding continued dumping but no material injury to domestic industry.
The Central Government rescinds the anti-dumping duty notification on Vitamin A Palmitate (tariff item 2936 21 00) for imports from the European Union, Singapore and Georgia after a review by the designated authority which found continued dumping but no material injury to the domestic industry and no likelihood of injury recurring; the rescission is effected under the Customs Tariff Act and the applicable anti-dumping rules, and is subject to actions already taken under the rescinded notification.

Classification of chassis: heading 8706 now includes chassis whether or not fitted with a cab, revising tariff wording.
The Central Government amends the First and Second Schedules to the Central Excise Tariff Act to declare that Heading 8706 shall include chassis, whether or not fitted with a cab, substitutes the relevant note in Chapter 87 and revises Note 9(iv) of the Second Schedule to reflect that wording, and inserts "16%" in column (4) against tariff item 5806 32 00 in Chapter 58.

Charitable exemption notification: trust granted income-tax exemption for specified assessment years subject to compliance conditions.
Notification designates Vivekananda Kendra Pratishthan, Chennai as eligible under clause (23C)(iv) of section 10 for specified assessment years, subject to conditions: income to be applied or accumulated solely for its objects; investments limited to modes specified in Section 11(5) (excluding certain voluntary contributions); business income exempt only if incidental with separate accounting; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a like-minded charitable organisation.

Income-tax exemption under section 10(23C)(iv) applies to Rajiv Gandhi Foundation subject to specified compliance conditions.
Income-tax exemption under clause (23C)(iv) of section 10 is granted to the Rajiv Gandhi Foundation for assessment years 2001-02 to 2003-04 subject to conditions: apply income wholly to objects or accumulate; restrict investments to permitted forms; notification excludes business profits unless incidental and separately accounted; file returns regularly; and on dissolution transfer surplus and assets to a similar charitable organisation.

Definition of output service which is exported clarifies export treatment under Export of Services Rules for CENVAT Credit.
The Explanation to rule 5 of the CENVAT Credit Rules, 2004 is substituted so that "output service which is exported" means output taxable services exported in accordance with the Export of Services Rules, 2005, thereby tying the export characterisation relevant to CENVAT credit to compliance with those Export of Services Rules.

Rescission of notifications: specified service tax notifications are rescinded, effective as of a forthcoming mid-month date.
The Central Government, invoking statutory power under the Finance Act, rescinds two specified service tax notifications published in the Gazette, except as respects acts done or omissions committed before rescission, and sets an operative commencement date for this rescission, thereby removing those notifications from future application while preserving prior legal effects.

Export of services: qualifying services may be supplied without service tax and may attract rebate subject to conditions.
Export of taxable services are defined by location of performance, use and recipient: services in relation to immoveable property outside India and services performed outside India for specified categories qualify as exports; other services qualify when provided and used in commerce or industry for a recipient located outside India provided the order originates outside India, the service is delivered and used outside India, and payment is received in convertible foreign exchange. Exported taxable services may be supplied without payment of service tax and may be eligible for rebate subject to notification conditions.