Exchange Rate Determination: Revised foreign currency conversion rates for imports and exports under Customs Act authority.
The Central Board of Excise and Customs determines distinct exchange rates for foreign currencies into Indian rupees for imported and export goods, effective 22nd May, 2015, superseding the earlier notification of 7th May, 2015; the rates are set out in Schedule I (per unit) and Schedule II (per 100 units) for use under section 14 of the Customs Act in relation to valuation and conversion for imported and exported goods.

Anti-dumping duty on sodium citrate imports from China imposed to counter dumping and protect domestic industry for five years.
Imposition of definitive anti-dumping duty on imports of Sodium Citrate originating in or exported from the People's Republic of China for five years following designated authority findings that subject goods were dumped, caused material injury to domestic industry, and that dumped imports were the cause. The notification prescribes duty rates by tariff item and product description, applies reductions for applicable safeguard duty, requires payment in Indian currency, and fixes exchange rate determination to government notifications with the bill of entry date as relevant date.

Import exemption for ship-breaking fuels: incidental HSD and LDO imports declared free, LDO via authorized channel.
Import of High Speed Diesel (HSD) (ITC (HS) 2710 1930) and Light Diesel Oil (LDO) (ITC (HS) 2710 1940) that are brought on board old ships or vessels intended for breaking and are incidental to such ships or vessels - whether within machinery/engine or as remnant fuel - is declared free; HSD remains under State Trading Enterprise control and LDO imports continue through IOC with reference to the Foreign Trade Policy framework.

Service tax exemption for RLNG regasification and transport under Power System Development Fund, subject to operator appointment and certification.
Exempts service tax for re gasification of imported LNG and transportation of incremental RLNG to specified gas based power plants under the Power System Development Fund Scheme, subject to appointment of GAIL/GSPCL as e bid RLNG Operators, eligibility limited to stranded and certain domestic gas plants with PLF below target, PSDF support confined to incremental RLNG fired generation, prescribed certification by CEA, GAIL, plants and Discoms within a stipulated period, and ineligibility for captive generating plants.

Effective Date of Exemption Amendment: specified service tax exemptions for job work and admission services come into force.
The Central Government, under section 93(1) of the Finance Act, 1994, appoints 1-6-2015 as the date on which sub-paragraphs (ix) and (xii) of paragraph 1 and sub-paragraph (b) of paragraph 2 of the Service Tax notification dated 1 March 2015 shall come into force, thereby activating amendments concerning job work (alcoholic liquors for human consumption) and services by way of right to admission under the Mega Exemption Notification.

Refund of unutilized Cenvat Credit restricted for manpower and security services; amendment removes related provisions and form entry.
Amendment to Notification No. 12/2014-C.E. (N.T.) restricts refund of unutilized Cenvat Credit to service providers by excluding refunds for supply of manpower and security services with effect from 1 April 2015, while preserving actions and omissions up to and including 31 March 2015. The amendment omits clause (ii) of paragraph 1(a) on safeguards, conditions and limitations and deletes Sl. No. 2 and its entries in the table in Form A.

Effective date for revised compounded service tax rates appointed; specified notification provisions to come into force.
The Central Government appoints 1 June 2015 as the date on which specified provisions of Notification No. 05/2015-sub clauses (a), (b) and (c) and item (A) of sub clause (d) of clause (ii) of sub paragraph (e) of paragraph 2-shall come into force, thereby implementing revised rates of the compounded levy under Rules 7, 7A, 7B and 7C.

Service tax rate increase takes effect with specified Finance Act provisions commencing; government and Swachh Bharat Cess dates deferred.
The notification appoints 1 June 2015 as the date on which specified provisions of the Finance Act, 2015-namely clauses (a), (c) and (f) of section 107, section 108, sub-sections (2), (3) and (4) of section 109, section 153 and section 159-shall come into force, and declares the increased service tax rate effective from that date while deferring separate notification for services by government/local authorities to business entities and for the Swachh Bharat Cess.

Reversal rate increase under Cenvat Credit Rule raises mandatory credit reversal obligation effective from June implementation.
Amendment to Rule 6, sub rule (3) of the Cenvat Credit Rules, 2004 inserts the words "seven per cent. of value of the" into clause (i) and substitutes 'seven' for 'six' in the second proviso, thereby increasing the prescribed credit reversal rate. The amendment is effected under section 37 of the Central Excise Act, 1944 and section 94 of the Finance Act, 1994 and is effective from 1st June 2015.

Service tax definition amendment removes chit entry, altering the scope of taxable services under the Finance Act.
The Central Government omits clause 'a' in paragraph 2 of Notification No.26/2012 Service Tax, removing the definition entry relating to chits and thereby altering the definitional scope applicable to chit-related services under the abatement notification; the amendment is effected by Notification No.13/2015 ST issued under the Finance Act and published in the Gazette.

Nomination under Companies Act provision: Institute of Company Secretaries' nominee appointed to the specified panel replacing prior entry.
The Central Government amends a prior notification by substituting serial number 3 with a new entry naming Shri Atul Hasmukhrai Mehta as President and as the nominee of the Institute of Company Secretaries of India, designated as the member nominated under the applicable nomination clause of the Companies Act provision.

Rescission of notifications withdraws specified prior corporate notifications, effective immediately while preserving prior actions.
The Central Government, exercising powers under the Companies Act, rescinds two earlier Gazette notifications issued by the Ministry of Corporate Affairs with immediate effect, removing their operative force while expressly preserving things done or omitted to be done prior to rescission.

Shipping bill declaration requirements updated to mandate specified document attachments and a FEMA undertaking for exporters.
The amendment replaces the declaration in the Shipping Bill (Electronic Declaration) Regulations, 2011 to require exporters to affirm that particulars are true, to enclose specified documents (duty exemption/advance authorisation, invoice/invoice cum packing list, quota/inspection certificates, and others), to provide exporter and customs broker identification and signature, and to undertake compliance with the Foreign Exchange Management Act regarding foreign exchange realisation or repatriation; APPENDIX 1 is omitted.

Anti dumping duty on morpholine continued for imports from China and European Union; United States imports excluded.
The Central Government, after a mid term review, revoked anti dumping duty on morpholine imports from the United States and continued definitive anti dumping duties on imports originating in or exported from the People's Republic of China and the European Union, with specified producer and exporter specific rates per kilogram in US Dollar terms and pairing rules for country of origin and export. The duties remain in force up to and including 19th September 2016, and the rate of exchange for calculation is as notified under the Customs Act with the bill of entry date as the relevant date.

Category I foreign portfolio investor inclusion expands eligibility and exempts regulated broad based FPI funds from certain mutual fund requirements.
Amendments add Category I foreign portfolio investors to regulation 24(b) and provide that requirements of that clause will not apply where funds managed are of Category I and/or Category II foreign portfolio investors that are appropriately regulated, broad based funds; the Explanation is adjusted to exclude the proviso to clause (vi) of the first proviso to clause (b).

Tariff value fixation for specified imported commodities updated, substituting prior tables and prescribing new per unit customs valuation.
Substitutes TABLE-1, TABLE-2 and TABLE-3 of the principal customs non-tariff notification to fix tariff values in US dollars per metric tonne (or other specified unit) for listed imported commodities, including crude palm oil and variants, crude soybean oil, brass scrap, poppy seeds, areca nuts, and unit values for gold and silver when certain notification entries are availed.

Foreign Trade Policy alignment modernises customs exemption definitions and procedural cross references across notifications.
Amendments align multiple customs exemption notifications with the Foreign Trade Policy 2015-2020 and the corresponding Handbook of Procedures by substituting prior cross references and explanatory clauses. Key substitutions redefine terms including "Foreign Trade Policy", "Handbook of Procedures", "Replenishment Authorisation", "Nominated agencies" and "Status holder" to the 2015-2020 framework, update paragraph citations, and adjust operative rules for EOUs and related units on inter unit transfers, sharing of infrastructure, external warehousing and fast track de bonding.

Inter unit transfer rules amended: centrally sourced input transfers treated as inflow/outflow for NFE calculation, with procedural flexibilities.
Amendments permit return of rejected transferred goods without duty via re warehousing; allow Unit Approval Committee to permit inter unit transfer for centrally sourced inputs with transferred values treated as inflow for the transferring unit and outflow for the receiving unit for Net Foreign Exchange calculation; provide fast track de bonding for units not availing duty benefits; permit sharing of infrastructure and external warehousing near ports subject to conditions; extend exemption to after sale service spares cleared into DTA within overall concessional entitlement; and update policy and handbook definitions.

Corrigendum corrects wording in Central Excise notifications so the phrase now reads "shall also apply", clarifying operative text.
Corrigendum amends two Central Excise notifications by replacing the phrase "shall apply" with "shall also apply" at specified page and line references in the originally published Gazette notifications, thereby correcting the published operative wording without altering the notifications' substantive scope.

Deduction under Section 80-IA: industrial park approved for tax benefits, subject to eligibility, reporting and compliance requirements.
Approval recognises M/s Dosti Corporation (Pinnacle) industrial park as an approved undertaking for tax deductions under the industrial park scheme effective from the date of commencement, subject to Industrial Park Scheme, 2008 and annexure terms. Eligibility requires minimum constructed area, majority allocable area for industrial use, limited commercial area, and a prescribed minimum number of industrial units; associated-enterprise units count as one unit and area occupancy limits apply. The approval is non-transferable, requires separate accounts, timely tax returns, annual reporting, and is withdrawable for misinformation, unapproved amendments, non-compliance, or duplicate approvals.