Exemption for loans from National Dairy Development Board allows companies it owns to treat those funds as non-deposits.
The Companies (Acceptance of Deposits) Rules, 1975 are amended by inserting a provision in rule 2(b) excluding any amount received as a loan from the National Dairy Development Board by companies owned by it, directly or through subsidiary companies, from the definition of deposits; the amendment is effected under section 58A read with section 642 of the Companies Act, 1956 and comes into force on publication in the Official Gazette.

Research exemption under section 35 grants institutional recognition subject to separate accounting and annual reporting obligations.
Approval under section 35(1)(ii) recognises Kasturba Health Society as an "Institution" for research-related tax benefits, conditional on maintaining separate research accounts, filing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by the prescribed deadline, and submitting audited annual accounts and audited Income & Expenditure accounts for the research activities to designated tax and scientific authorities by the prescribed annual deadline, alongside the regular return of income; renewal applications must be made in triplicate through the tax authorities and sent to the Secretary, DSIR.

Approval under section 10(23G) permits tax-exempt status for a power infrastructure project subject to compliance and audit conditions.
Approval under section 10(23G) is granted to M/s BSES Andhra Power Limited for its 220 MW Combined Cycle Power Project at Samalkot, subject to conformity with section 10(23G) read with rule 2E. The approval is conditional and may be withdrawn if the undertaking ceases to carry on the infrastructure facility, fails to maintain books and obtain audits as required by rule 2E(7), or fails to furnish the required audit report.

Approval under section 35CCB: conservation programme approved with conditions on accounts, reports and authority oversight.
Approval is granted to M/s Vanarai and its conservation of natural resources programme for 1 April 2001 to 31 March 2002, subject to conditions requiring separate accounting of donations, submission of a progress report for the financial year, annual audited accounts showing total income and liabilities to be sent to the prescribed authority and the tax commissioner, and the institution's obligation to furnish these reports at the earliest; the approval is subject to ongoing oversight and may be withdrawn retrospectively.

Rescission of customs exemption notification preserves prior acts while repealing the earlier exemption going forward.
The Central Government, invoking powers under the Customs Tariff Act and the Anti dumping Rules, rescinds Notification No. 55/2002 Customs, preserving actions or omissions completed before the rescission and publishing the change via official notification and Gazette entry.

Anti-dumping duty on lead acid batteries imposed, with category-specific rates and an exclusion for specified consignments.
Anti-dumping duty is imposed on lead acid batteries under tariff heading 8507 originating in or exported from Taiwan, Singapore and Hong Kong, at rates equal to specified US$ per kg amounts minus the landed value per kg for listed battery types and exporters. A specific exclusion is provided for industrial batteries from two named Chinese manufacturers when exported by identified Singapore and Hong Kong traders. Landed value and applicable exchange rate are defined by reference to the Customs Act and Department of Revenue notifications. The duty is payable in Indian currency and is effective from the provisional duty date, with a limited proviso for certain other battery types.

Export permission extension for onion allows previously released unutilised export quantities to be shipped within an extended deadline.
The Central Government, under the Foreign Trade Act and the Foreign Trade Policy, permits export of unutilised previously released onion quantities by amending the ITC(HS) classifications framework to allow shipment of the balance allocations within a specified extended period; the action continues allocations made by earlier notifications and is adopted in the public interest.

Conversion of debentures: scheduled banks may convert only after issuer default and after prior notice.
The amendment adds a definition of scheduled bank, includes scheduled banks alongside public financial institutions in conversion-related rule provisions, and inserts a proviso permitting conversion by a scheduled bank or public financial institution only upon the company's default in repayment, redemption or interest and after prior notice of intention to convert given to the company at least one month before the intended conversion date.

Direct investment in overseas equity permitted for resident individuals, listed companies and mutual funds subject to ownership and routing conditions.
Adds Regulation 6A permitting resident individuals, listed Indian companies and registered mutual funds to invest in shares of listed overseas companies that hold a minimum shareholding in any listed Indian company, subject to limits-listed Indian companies capped by a percentage of their latest audited net worth and mutual funds governed by securities regulator ceilings-and requiring all purchase and sale transactions to be routed through the designated branch of an authorised dealer in India.

Depreciation rates adjusted for specified machinery and plant entries under Income tax rules, increasing statutory allowance for those assets.
The notification amends Appendix I, Part A (Tangible Assets), III. Machinery and Plant, sub item (3) by substituting the figures in column 2 for entries (viii), (ix) and (x), thereby altering the numerical schedule entries applicable to those machinery and plant classifications.

Notification amendment updates amendment numbering and corrects the footnote citation in an income tax notification published in the Gazette.
The notification amends S.O. 278(E) dated 11 March 2003 by replacing the parenthetical designation in rule 1, sub rule (1) from "(Second Amendment)" to "(Third Amendment)" and by correcting the footnote citation from No. S.O. 104(E) dated 28th January, 2003 to No. S.O. 138(E) dated 6th February, 2003.

Anti-dumping duty on lead acid battery imports alters customs tariff treatment for specified goods under amended notification.
The Central Government, under section 25(1) of the Customs Act, 1962, amends Notification No. 21/2002-Customs by substituting the entry at S. No. 166 in the Table to impose a revised customs treatment for goods under the specified tariff heading relating to imports of lead acid batteries from Taiwan, Singapore and Hong Kong, via Notification No. 62/2003 dated 1 April 2003.

Provisional anti-dumping duty on sodium hydrosulphite imports from Germany and Korea; duty equals specified margin over landed value.
The Central Government imposed a provisional anti-dumping duty on sodium hydrosulphite (tariff item 2832 10 20) equal to the difference between USD 1058.866 per metric tonne and the landed value of imports; the duty applies to all specifications and to imports involving Germany and the Republic of Korea, is payable in Indian currency, and is effective up to and inclusive of 30 September 2003, with "landed value" and applicable exchange rate defined by reference to the Customs Act and Government notifications.

Anti dumping duty on sodium tripolyphosphate imports from the People's Republic of China imposed, payable in Indian currency effective from provisional measures.
Definitive anti dumping duty is imposed on Sodium Tripolyphosphate from the People's Republic of China, equal to the difference between a specified benchmark amount (in US dollars per metric tonne) and the landed value of such imports per like unit. The duty applies to goods under the stated tariff item, to any producer or exporter, is payable in Indian currency, and is levied from the date provisional measures were imposed. "Landed value" is defined as the assessable value under the Customs Act excluding specified customs duties, and exchange rates are to be those published by the Government for customs purposes.

Customs tariff amendment creates nil-duty exemption for goods specified in companion notification under section 3A.
An amendment inserts entry 53D into notification No. 23/2002 Customs, establishing a nil-duty exemption for all goods specified against S.No. 426A of the Table annexed to notification No. 21/2002 Customs; the Central Government acts under section 3A of the Customs Tariff Act, 1975 to set the duty as Nil.

Customs exemption for metro equipment requires certificate confirming procurement for the metro project and final ownership.
The amendment inserts an exemption entry for all equipment, machinery and rolling stock procured by or on behalf of the Delhi Metro Rail Corporation Ltd. for use in the Delhi MRTS Project, exempting such goods from customs duty; it also adds Condition 92 requiring, at importation, a certificate from the Chairman or Managing Director of the Corporation certifying procurement for the project, inclusion in the Corporation's inventory, and final ownership by the Corporation.

Customs exemption amendments expand import permissibility and define SEZ and deemed export documentation requirements for duty relief.
Amendments to notifications modify conditions for permitting imports, add public notice as an alternative to special order, align the term "manufacture" with the Export and Import Policy, extend Duty Entitlement Pass Book conditions to supplies to SEZ units, define SEZ by policy reference, require excise-certified invoice details and values for deemed export supplies, permit imports from any specified port for deemed exports, and substitute a provision exempting materials supplied to Export Oriented Units, SEZs and specified parks from customs and certain additional duties subject to paragraph 1 conditions.

Advance licence duty exemption for inputs subject to actual user, bond, and export obligation compliance.
Exemption from customs and additional duty is granted for materials imported against an Advance Licence for Annual Requirement with Actual User condition, subject to conditions including issuance to qualifying exporter certificates, specification of CIF and FOB values, entry of import and export particulars in the Actual User Duty Exemption Entitlement Certificate, production of licence and certificate at clearance, execution of a bond with security to cover duties and interest where conditions are breached, discharge of export obligation within eighteen months or authorised extension, restriction of use to export obligation or replenishment, and compliance with permitted ports and documentation requirements.

Concessional duty on capital goods under EPCG: concessional rate granted subject to licence, bond and block wise export obligations.
Exempts customs duty in excess of a concessional rate on specified capital goods, components and spares imported under the EPCG Scheme, conditioned on production of a valid EPCG licence, execution of a bond securing an export obligation equal to a multiple of duty saved, fulfillment of that obligation in prescribed block-wise proportions over specified periods (with alternative longer schedules for certain large or agri-zone licences), production of installation certification, compliance with port/airport/ICD routing, payment of proportionate duty with interest for shortfalls, and procedural provisions for re-export of defective goods and sectoral reduction of obligations.

Duty Free Service Entitlement Exemption allows specified imports to be relieved from customs and additional duties when certificate conditions are met.
Exemption applies to spares, office equipment and furniture, capital goods, professional equipment and consumables (excluding agricultural and dairy products) imported against a Duty Free Service Entitlement Credit Certificate under paragraph 3.8 of the Export and Import Policy; such goods are exempt from customs duty, additional duty and special additional duty, provided the certificate is produced at clearance with sufficient credit, the certificate and goods are non-transferable, installation/use evidence for capital and related equipment is submitted within six months or extended period, and imports are effected through specified ports, airports, ICDs, LCSs or SEZs.