Anti-dumping duty on Poly-Iso-Butylene imposed, calculated as the difference between prescribed amount and landed value.
Imposition of anti dumping duty on Poly Iso Butylene (sub heading 3902.20) is based on findings that certain imports were dumped and caused material and cumulative injury; the duty is calculated as the difference between the tabled US dollar amount per metric tonne and the landed value, is payable in Indian currency, and the notification defines landed value and the applicable rate of exchange for calculation.

Section 35 approval for research institutions requires separate research accounts, annual DSIR return and audited account submissions.
Approval under section 35(1)(ii) grants IUCAA institutional tax-exempt status for 1 April 2001-31 March 2004, subject to maintaining separate research books, filing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and an audited Income & Expenditure Account for research activities to specified tax and scientific authorities by 31 October each year, in addition to filing its income-tax return; renewal applications must be submitted in triplicate through the tax-exemption authority and directly to the Secretary, DSIR.

Export of mineral oil products: payment obligation imposed for supplies as aircraft stores on foreign run.
Exports of mineral oil products supplied as stores for consumption on board an aircraft on foreign run are made subject to payment equal to the amount specified in the TABLE in clause (c) of the first paragraph of Notification No.40/2001-Central Excise (NT), issued under rule 18 of the Central Excise Rules, by amendment effected under sub-rule (3) of rule 19 of the Central Excise Rules.

Anti-dumping duty on High Styrene Butadiene Copolymer imports imposed with exporter-specific rates and retroactive effect.
The Central Government imposes anti-dumping duty on High Styrene Butadiene Copolymer imports from Poland and the European Union, applying exporter-specific and residual rates as set in the annexed table for named exporters and all other exporters/producers. The duty covers specified tariff sub-headings, excludes identified product variants, is effective from the provisional duty imposition date, payable in Indian currency, and uses the Government-notified exchange rate with the bill of entry date as the relevant date for rate determination.

Anti-dumping duty on choline chloride imposed, specifying exporter-based rates and retroactive application payable in local currency.
Final anti-dumping duty imposed on Choline Chloride imports from the People's Republic of China and the European Union after findings of dumping and material injury; specific exporter- and territory-based duty rates are prescribed for all forms, grades and concentrations (with non-100% concentrations assessed pro rata). The duty is retrospective to the provisional duty imposition date, payable in Indian currency, and conversion uses the exchange rate specified in separate Government notifications with the bill of entry date as the relevant date.

Differential Voting Rights rules amended to revise textual eligibility criteria and clarify financial year references in issuance conditions.
Amendment to the Companies (Issue of Share Capital with Differential Voting Rights) Rules, 2001 substitutes specific phrases in rule 3: "three financial years" replaces the prior wording in sub rule (1) and "the financial year" replaces the prior expression in sub rule (2); the amendment comes into force on publication in the Official Gazette.

Avoidance of double taxation: treaty allocates taxing rights, limits source state withholdings and provides credit and mutual agreement procedures.
The Convention allocates taxing rights between India and Ukraine and prescribes relief and cooperation mechanisms to avoid double taxation and prevent fiscal evasion. It defines residency (with tie breaker rules), permanent establishment criteria (including agency and construction-site rules), and source rules for immovable property, business profits, shipping, dividends, interest, royalties and capital gains. It limits withholding taxes for beneficial owners, requires arm's length attribution for associated enterprises, provides a tax credit method for relief, imposes non discrimination, and establishes mutual agreement, information exchange and tax collection assistance procedures.

Excise duty amendment reduces concession rate and inserts specific tariff entries affecting petrol and high speed diesel.
The amendment substitutes forty per cent for the earlier fifty per cent concession on the duty of excise specified in the First Schedule and inserts two tariff entries for goods under headings 2710.19 and 2710.90 excluding motor spirit (petrol) and high speed diesel respectively, subjecting those goods to the specified excise duty; the notification is temporary, in force from the stated commencement date until the stated termination date.

CENVAT increase on high speed diesel and special excise on petrol implemented temporarily via substituted tariff entries.
The Central Government exercised emergency tariff powers to substitute higher tariff entries for excise on high speed diesel and motor spirit (petrol) in the First and Second Schedules, specifying substituted column entries against the relevant sub headings and a defined commencement and cessation period for the amended rates; the notification was framed as a temporary fiscal adjustment and was later rescinded.

Anti-dumping duty on acrylic fibre imposed with differential exporter rates, payable in Indian currency until specified expiry.
Provisional anti-dumping duty is imposed on Acrylic Fibre below 1.5 denier from Italy with exporter-specific and residual rates; the duty is effective until 9 July 2002, payable in Indian currency, and the exchange rate for conversion is determined by Ministry of Finance notifications with the relevant date being the bill of entry presentation.

Anti-dumping duty imposed on Trimethoprim for dumped imports, payable in local currency with prescribed exchange-rate rules.
Anti-dumping duties are imposed on Trimethoprim imports from the People's Republic of China following findings of dumping and injury; a per-kilogramme duty is prescribed for all producers/exporters, payable in Indian currency. The applicable exchange rate is the rate published periodically by the Government of India, and the relevant date for exchange-rate determination is the date of presentation of the bill of entry.

Import duty increase on raw cotton enacted, amending the Customs Tariff Schedule with immediate effect by government notification under emergency powers.
The First Schedule to the Customs Tariff Act is amended to substitute a new import duty rate for cotton not carded or combed by replacing the existing entry in the tariff rate column for the relevant cotton heading; the change is made under the executive provision for urgent tariff adjustments and is brought into force by a government customs notification with an effective implementation date.

Tax exemption for HUDCO tax free bonds requires holder registration to qualify under the specified income tax provision.
Under Section 10(15)(iv)(h) the Central Government specified HUDCO Tax Free Bonds issued during 2000-01 as exempt from income tax; bonds are of face value one lakh, bear a stated interest rate and ten year tenor, issued across Series XVII A, XVII B and XVII C with specified distinctive numbers. The exemption is admissible only if the holder registers his or her name and the holding with the issuing corporation.

Inland Air Travel Tax timing reduced to a shorter statutory notice period, effective on publication in the Official Gazette.
The amendment substitutes the words "thirty days" in rule 6 of the Inland Air Travel Tax Rules, 1989, with "fifteen days", shortening the statutory notice period. The change is effected under clause (a) of sub-section (2) of section 48 of the Finance Act, 1989, and is effective from the date of publication in the Official Gazette as notified in Notification No. 1/2002-Inland Air Travel Tax.

Foreign Travel Tax deadline shortened; rule four's prescribed period reduced by government, effective upon Gazette publication.
The Foreign Travel Tax (Amendment) Rules, 2002, shorten the prescribed compliance period in rule four of the Foreign Travel Tax Rules, 1979 by substituting the prior longer period with a shorter period; the amendment is effected under powers conferred by the Finance Act and comes into force upon its publication in the Official Gazette.

Non-market economy determination in anti-dumping investigations now permits rebuttal through evidence of firm-level market conditions.
Non-market economy country status in anti-dumping investigations may be presumed where a country has been so treated during the preceding three years, subject to rebuttal by the country or concerned firms. The designated authority assesses market-based decision-making, State interference, input values, legacy economic distortions, legal certainty under bankruptcy and property laws, and market-based exchange rates. Firms establishing market conditions through written evidence may be assessed under the general fair-value principles applicable to market-economy cases.

Approval under section 10(23G) grants tax benefit to a specified infrastructure power project, subject to compliance and audit.
Approval under section 10(23G) was granted to G.V.K. Industries Limited for the 235 MW combined cycle power plant at Jegurupadu for the assessment years 2002-2005, conditional on conformity with the Income-tax Act and rule 2E. The Central Government may withdraw approval if the enterprise ceases to provide the infrastructure facility, fails to maintain books of account or obtain the required audit, or fails to furnish the audit report required by sub-rule (7) of rule 2E.

Section 10(23G) approval for infrastructure enterprise granted, subject to compliance, audit obligations and withdrawal on noncompliance.
Approval granted to M/s Malana Power Company Limited for income-tax exemption under section 10(23G) in respect of the 86 MW Malana Hydro Electric Project. The approval is conditional on compliance with the statutory exemption framework and rules, maintenance of books of account, obtaining an accountant's audit and furnishing the required audit report; the Central Government may withdraw approval if the undertaking ceases to be an infrastructure facility or fails to comply with these audit and record-keeping requirements.

Anti-dumping duty on lead acid batteries imposed, applying country specific margins and an undertaking based exemption for specified models.
Anti-dumping duty is imposed on imports of lead acid batteries under heading 85.07 from China, Korea, Bangladesh and Japan because dumped imports were found to be below normal value and to have caused or threatened material injury; the duty equals the difference between specified per kg amounts and the landed value per kg, applies by product type and exporter as listed, is payable in Indian currency from the provisional duty date, and certain maintenance free automotive battery models exported by a Korean exporter are exempt if landed value meets the submitted undertaking prices.

Valuation requirements tighten for overseas equity investments; specified expert valuations and disclosure required in ODI applications.
Valuation and documentation requirements mandate that overseas investments by remittance be supported by share valuations: investments above a specified threshold require valuation by a Category I Merchant Banker registered with SEBI or an appropriately registered foreign investment/merchant banker; other investments may be valued by a Chartered Accountant or Certified Public Accountant. Share acquisitions paid for by issuance of the Indian party's shares must always be valued by a Category I Merchant Banker or an appropriately registered foreign banker. Form ODI applications must include the prescribed valuation reports. A new Form ODB permission permits proprietary concerns to accept foreign shares as fees subject to caps of fifty percent of fees per company and a ten percent shareholding limit per foreign company.