Pricing norms for issue or transfer of shares to persons resident outside India require specified valuation standards and minimum price safeguards.
The amendment requires that rights offers to persons resident outside India be priced: for listed company shares, at a price determined by the company; for unlisted company shares, at no less than the price offered to resident shareholders. Schedule I now mandates minimum issue prices for non-residents: (a) per applicable SEBI guidelines for listed shares; (b) fair valuation by a SEBI-registered Category I Merchant Banker or a Chartered Accountant using the discounted free cash flow method for unlisted shares; and (c) pricing for preferential allotment as per Reserve Bank guidelines for resident-to-non-resident transfers.

Special Economic Zone expansion authorised: additional land included under SEZ Act and Rules, increasing the notified SEZ area.
The Central Government, under the Special Economic Zones statutory framework and rules, notifies addition of 6.985 hectares to the sector specific Special Economic Zone for Free Trade and Warehousing at Village Sai, Panvel, thereby increasing the notified SEZ area to 52.745 hectares and specifying the survey/hissa numbers and parcelwise areas of the newly included land.

Customs exemption for cotton waste exports caps payable duty to a set ad valorem rate, exempting excess.
The Central Government exempts cotton waste, all sorts, when exported from India from customs duty to the extent that duty exceeds an amount calculated at the rate of 3% ad valorem, thereby capping the payable customs duty on such exports at that ad valorem rate.

Export duty exemption altered by removing specified table entries, changing which goods remain exempt under the principal customs notification.
The Central Government, under powers conferred by the Customs Act, amends Notification No.100/89-Customs by omitting Sl. Nos. 14 and 15 and the entries relating thereto from the Table of goods exempted from export duty, thereby modifying which goods qualify for the export duty exemption under the principal notification.

Anti-dumping duty on PTFE from China continued to counter dumping and protect the domestic industry.
Final and continued anti-dumping duty on Polytetrafluoroethylene (PTFE) from the People's Republic of China is imposed after findings of dumping below normal value and material injury to the domestic industry; a mid-term review confirmed significant dumping margins and recommended continuation. The Central Government, under section 9A of the Customs Tariff Act, prescribes differentiated per-kilogram duties in US dollars by producer and exporter (a lower rate for specified producer-exporter and a higher rate for other exporters), payable in Indian currency, with the applicable rate of exchange determined as of bill of entry presentation.

Foreign currency accounts for resident project offices allowed subject to RBI directions, permitting non interest and multiple accounts.
Authorized dealers, subject to Reserve Bank directions, may allow Project Offices set up in India by foreign companies to open, hold and maintain non-interest bearing foreign currency accounts in India for projects to be executed in India; this provision is deemed effective from May 17, 2005. The phrase "one or more foreign currency accounts" replaces "foreign currency account," permitting multiple accounts, deemed effective from July 31, 2008.

Restriction on input tax credit: closing stock credit carried forward until sale, with specified exceptions and verification.
Rule 6A restricts input tax credit by requiring closing stock credit to be carried forward until sold and entitles credit only to the proportion of goods sold in a tax period; exceptions allow refunds or immediate credit for sales already effected, exports, inter-state trade, and manufacturers buying higher-taxed raw materials while selling manufactured goods at a lower tax rate. Assessing authorities must verify clause (g) conditions before allowing credits. Section 10(5) reductions apply to credit notes for discounts and similar adjustments, excluding ordinary business losses, and sales under administered oil company prices are exempted from section 10(5). Rule 34 requires clause (g) verification before refunds.

VAT schedule amendment revises taxable and exempt commodities, adding domestic LPG and substituting items across schedules.
Amendment under section 103 of the Delhi Value Added Tax Act, 2004 effects omissions, substitutions and additions to the First, Third and Fourth Schedules: First Schedule adds Deferasirox and domestic LPG; Third Schedule deletes certain entries, substitutes descriptions for utensils, declared goods (excluding cereals, pulses, sugar, textiles, tobacco and domestic LPG), electronics and mobile devices within a retail cap, UPS and parts, readymade garments excluding khadi, specified writing and kirana items, distinguishes non domestic LPG and adds bio inputs and kerosene stoves and spares; Fourth Schedule replaces diesel entry and adds aerated drinks and higher value watches. The notification is immediate.

Commencement of sections 3 and 4 of Delhi VAT Amendment notified as operative from the appointed date.
Under the authority conferred by sub section (3) of section 1 of the Delhi Value Added Tax (Amendment) Act, 2009 read with the proviso to sub section (3) of section 1 of the Delhi Value Added Tax Act, 2004, the Lieutenant Governor appoints 1 April 2010 as the date on which sections 3 & 4 of the Amendment Act shall come into force.

Exemption for medical instruments clarifies tariff entries and excludes parts and spares, prescribing an effective customs duty rate.
Substitutes a tariff entry to create S. No. 357A covering goods classifiable under headings 9018-9022 "required for medical, surgical, dental or veterinary use," prescribes the applicable effective duty rate for those goods, and expressly limits "Goods" to medical instruments/appliances for those uses while excluding parts and spares.

Customs duty exemption for bulk consumers: nil duty on imported raw sugar with Chartered Accountant certification of bulk use.
Amendment adds tariff entry 38CC exempting raw sugar (chapter 1701) from basic and additional duty when imported by a bulk consumer and adjusts the operative date. It inserts Annexure condition 5C requiring a Chartered Accountant's certificate at import time certifying bulk consumer status, defines bulk consumer by monthly consumption exceeding ten quintals as raw material for production or non-sale use, and requires the certificate to be based on the previous twelve months' consumption.

Import licensing for rough marble blocks: eligibility, entitlement ceilings, floor price endorsement and compliance rules for the licensing year.
Policy confines import licences for rough marble blocks for 2010-11 to units owning a marble gangsaw on or before 23.10.2009 (excluding leased machines, EOUs and SEZ), with five years' operation and specified minimum indigenous processed slabs/tiles turnover for the prior five years. Licences require a floor price endorsement, are subject to an overall national ceiling, individual entitlement caps linked to number of gangsaws, an actual user condition, monthly import returns to the Regional Authority, and an application/verification process routed through the RA to DGFT HQ.

Tariff value fixation amended for specified edible oils, brass scrap and seeds affecting customs valuation under Customs Act.
Amendment substitutes a revised Table into Notification No. 36/2001-Cus (N.T.) under the Board's powers under the Customs Act, 1962, fixing tariff values per metric tonne for specified goods including crude palm oil, RBD palm oil, palmolein variants, crude soyabean oil, brass scrap (all grades) and poppy seeds, with several oil entries marked as no change and specified values set for brass scrap and poppy seeds for customs valuation purposes.

Subordination of income-tax authorities: DGIT designated supervisory authority for Dispute Resolution Panel functions under section 144C.
A notification under section 118 designates the Director General (International Taxation) as the supervisory income-tax authority with administrative control over specified Commissioners or Directors who are members of named Dispute Resolution Panels for the purposes of performing functions under section 144C; the direction takes effect on publication in the Official Gazette and the notification is noted as superseded by a later notification.

Jurisdiction of income-tax authorities revised to reallocate territorial areas and taxpayer categories among local commissioners.
Amendment substitutes entries for serial numbers 80, 82 and 83 to prescribe territorial areas and allocate categories of persons and cases to specified Commissioners of Income Tax in Kerala, covering companies with registered offices, directors with substantial interest, trusts, co-operative societies, associations claiming exemptions or registration, and persons deriving income or having principal places of business within the territorial areas; all listed cases are assigned to the corresponding commissioner entries. The amendment is effective from 1 April 2010.

Approval under section 35(1)(ii) requires approved organizations to use donations for social science research and maintain audited records.
Approval under the Income-tax Act has been granted to B.M. Birla Science & Technology Centre, Jaipur as an approved organization for research in social sciences, subject to utilization of sums for such research and conduct of research through faculty or enrolled students. The organization must maintain separate books of account for research receipts, obtain an audit by a qualified accountant and furnish the audit report and a certified statement of donations and sums applied for research to the tax authorities by the return due date. The Central Government may withdraw approval for failures in accounting, reporting, genuineness of research, or non compliance with statutory rules.

Winding up procedures: rules govern voluntary and tribunal-ordered LLP liquidation, appointments, assets distribution and creditor rights.
The Rules establish procedural frameworks for voluntary winding up and winding up by the Tribunal of an LLP: qualifying partner resolutions, creditor consultation and solvency declarations for voluntary liquidations; petitioners, grounds and interim appointments for Tribunal proceedings; appointment, disclosure, duties and removal of LLP Liquidators/Liquidators; filing of statements of affairs, custody, valuation and sale of assets; proof and ranking of creditor claims; distribution of assets after priority payments; auditing, reporting and banking controls; transfer of unclaimed sums to a public account and Tribunal supervision including powers to investigate fraud and direct completion timelines.

Prohibition on pulse exports (excluding Kabuli Chana) extended, maintaining export ban under foreign trade regulations.
The executive notification extends the prohibition on exports of pulses except Kabuli Chana by substituting the operative paragraph of earlier export-control notifications, invoked under the Foreign Trade Act and Foreign Trade Policy and issued in public interest to maintain the export-control regime for the specified commodities.

Service tax deferment on rail freight extended by substituting April with July, postponing the levy for three months.
Substitutes the word 'April' with 'July' in paragraph 3 of Notification No. 09/2010-Service Tax, thereby extending the deferment of service tax on rail freight for an additional three-month period under the powers of section 93(1) of the Finance Act, 1994.

Service tax deferral for rail freight: effective date shifted later, extending the period before levy applies.
Amendment postpones the effective date for service tax on rail transport of specified goods by substituting the month 'April' with 'July' in paragraph 2 of the principal notification, exercising powers under the Finance Act and citing public interest; no other substantive changes to scope or conditions are made.