Exchange rate determination for export goods prescribes official conversion rates and supersedes earlier notification forthwith.
The Central Government prescribes official conversion rates for specified foreign currencies for export goods, superseding the earlier notification; Schedule I lists rupee equivalents per one unit of each listed currency and Schedule II lists rupee equivalents per one hundred units for specified currencies, and those rates are the operative exchange rates for export-related customs conversions.

Exchange rate determination: Government prescribes conversion rates for foreign currencies for customs and stamp duty purposes.
The Central Government prescribes rates of exchange for specified foreign currencies to be used for calculating stamp duty and for purposes of section 14 relating to imported goods, and implements those rates by two appended schedules listing conversion factors to be applied by customs and stamp duty authorities.

Input credit admissibility limited by prescribed input norms, valuation rules and quality standards; credit is non-transferable.
Credit under the V.B.A.L. notification is admissible only for inputs specified with quantity limits in the prescribed standard input output norms and declared as actually used; exports must be manufactured from prime quality inputs unless norms allow scrap. Credit is allowed at customs duty rates as if inputs were imported on the export clearance order date; where duties are value based the ordinary transaction price between unrelated parties is used and valued using the exchange rate on presentation of the shipping bill. Credit is subject to a ceiling relative to FOB value unless DGFT permits otherwise. The Pass Book or credit is not transferable.

EPCG scheme amendment removes specified explanation clauses, altering the scope of customs exemption concessions.
Amendment to the EPCG scheme notifications excises specified Explanation clauses from Notification No. 110/95-Customs and Notification No. 111/95-Customs, thereby altering the interpretive language applicable to those customs exemption directives and modifying the operative text that governs entitlement or application of the EPCG-related concessions.

Project import regulations amended: defines sponsoring authorities, industrial plant exclusions, and sets substantial expansion threshold at 25%.
Replaces the Project Imports Regulations' definitions to define industrial plants (with specified exclusions), sponsoring authority, substantial expansion (not less than 25 per cent increase in installed capacity), and unit; substitutes "concerned sponsoring authority" for prior ministry references in regulations 5 and 6; and adds a Table assigning sponsoring authorities for SSI units, designated power plants, and other projects.

Tax exemption recognition: charitable institution allowed under income tax provision subject to exclusive income application and investment limits.
Notification designates Guruvayur Devaswom under sub clause (v) of clause (23C) of section 10 for the specified assessment year, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except voluntary contributions in jewellery, furniture etc.) must be invested only in permitted modes; and the notification does not cover business profits unless the business is incidental and separately accounted.

Notification under section 10(23C)(v) recognizes Guruvayur Devaswom for tax-exempt status for specified assessment years by Central Government
Central Government, exercising powers under section 10(23C)(v) of the Income-tax Act, 1961, notifies Guruvayur Devaswom as qualifying under that sub-clause for the purposes of exemption in respect of the specified assessment years, thereby treating the institution as eligible for the tax treatment conferred by the cited provision for those years.

Market manipulation: Prohibition on transactions and information designed to artificially distort securities prices and induce trades.
The regulations prohibit fraudulent dealing in securities and comprehensively forbid market manipulation, including transactions designed to artificially move prices, create false trading appearances, non genuine transactions and inducements to affect market prices. They bar dissemination of materially misleading statements made recklessly or knowingly that could induce trades, and proscribe unfair trade practices such as client order front running, unjustified delays in transfer or dispatch of securities, record falsification and agency price manipulation. The Board may investigate, compel production of records and statements, and issue directions or seek suspension or cancellation of intermediary registration to secure compliance.

Exemption under section 35AC: extension of eligibility for a special education centre project for disabled children.
The Central Government specifies the building of a centre for special education for disabled children at Guwahati by Shishu Sarothi Spastics Society of Assam as an eligible project for exemption under section 35AC, and, following the National Committee's recommendation that execution is proper, extends the project's eligibility for a further three assessment years commencing from assessment year 1996-97.

Income tax exemption provision: specified charitable rehabilitation project retains eligible status after administrative extension based on committee approval.
Central Government specifies the Half Way Home for Alcoholics and Drug Addicts at Tumkur, run by R. S. Aradhya Charitable Trust, as an eligible project for income-tax exemption under the relevant statutory provision, extending the prior three-year specification for a further three assessment years commencing 1996-97 following the National Committee's recommendation that the project is properly executed; the notification names the trust, location and estimated project cost and records the exercise of the Government's power to specify eligible projects.

Drawback claim filing window now runs from receipt of rate determination, allowing exporters to submit claims after rate notification.
The amendment removes the words "in triplicate" from rule 13(2) and inserts a new rule 13(7) allowing a manufacturer or exporter who applied for determination of the rate under rule 6 or rule 7 to file a drawback claim in the prescribed manner within three months from receipt of the communication of the rate determination under rule 6 or rule 7.

Drawback rule relaxation permits relief from procedural non-compliance when exporters remain otherwise entitled to customs duty drawback
The amendment removes the requirement in rule 5(2) to submit the relevant document in duplicate. New rule 7A permits the Central Government to relax compliance with any rule where non-compliance resulted from reasons beyond the exporter's or authorised agent's control, provided the person remains entitled to drawback. The relaxation requires consideration of any representation and written reasons.

Anti-dumping duty imposed on theophylline and caffeine imported from China under Customs Tariff Act; specified per kilogram rates apply.
An additional duty has been imposed on imports of theophylline and caffeine from the People's Republic of China under the Customs Tariff Act and anti dumping rules, based on a designated authority finding of dumping; the notification prescribes specific per kilogram rates for each of the two goods.

Anti-dumping duty imposed on 3,4,5 Trimethoxy Benzaldehyde imports from China as a trade remedial measure.
Imposition of anti-dumping duty on 3,4,5 Trimethoxy Benzaldehyde imported from the People's Republic of China pursuant to powers under the Customs Tariff Act, 1975 read with rule 21 of the Customs Tariff Rules, based on designated authority findings of dumping; an additional duty is specified at a per kilogram rate for the product falling under Chapter 29 of the First Schedule.

Central Excise notification amendment expands permitted supply origin to include warehouses and substitutes Collector with Commissioner.
Notification No. 113/95-C.E. amends earlier notifications to (i) substitute the phrase "from the factory of production" with "from the factory of production or from the warehouse" and to replace the word "Collector" with "Commissioner" in Notification No. 136/94-C.E., and (ii) change the bracketed paragraph label "(1) the user industry" to "(a) the user industry" and substitute "directly from the factory of manufacture" with "directly from the factory of manufacture or from the warehouse" in Notification No. 1/95-C.E.

Tax exemption for association conditioned on exclusive income use, prescribed investments, limited distributions, and separate business accounts.
Notification grants exemption to the assessee under clause (23) of section 10 for assessment years 1990-91 to 1992-93, conditional on: exclusive application or permitted accumulation of income in line with section 11 provisions as modified; investment or deposit only in forms/modes specified by section 11(5) except certain tangible voluntary contributions; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business profits unless incidental to objectives with separate accounting.

Public financial institution designation: Indian Renewable Energy Development Agency Limited added to notified list under Companies Act.
The Central Government specified the Indian Renewable Energy Development Agency Limited as a public financial institution by amending the prior notification under the Companies Act, inserting a new entry to add the institution to the list of notified public financial institutions.

Tax exemption under section 35AC approved eligible projects, permitting specified deductions for listed institutional schemes.
Approval under Section 35AC is granted for two specified corporate-sponsored projects, each listing the institution, the eligible project or scheme, the estimated cost and the maximum amount of such cost allowable as a deduction. The first project concerns health, sanitation, drinking water, family planning, eye camps and energy income activities in District Kheri; the second concerns construction and furnishing of six classrooms with amenities at a government higher secondary school in Coimbatore. The notification limits the temporal scope of each approval to the assessment years stated.

Exemption under section 35AC: approval of listed institutions' projects permits specified deduction for eligible project costs.
Exemption under section 35AC approves specified institutions and designates eligible projects or schemes, providing estimated project costs and specifying the maximum amount of such cost allowable as a deduction. The notification lists project descriptions (construction, equipment, furnishing, running expenses), records estimated costs and deductible ceilings for each institution, and limits the notification's force to specified assessment years while noting subsequent substitutions and amendments to certain entries.

Tax exemption notification grants qualified charitable status subject to application, investment and incidental business conditions.
Notification under sub-clause (v) of clause (23C) of section 10 notifies Swargashram Trust, Rishikesh, for assessment years 1993-94 to 1995-96 subject to conditions: income must be applied or accumulated wholly and exclusively to the trust's objects; investments of funds during the relevant previous years are limited to modes specified in section 11(5) except voluntary contributions held as jewellery, furniture, etc.; and business income is excluded unless incidental to objectives with separate books maintained.