Customs exemption period extended for drilling rigs and spares for rural water supply projects, prolonging import duty relief.
Amendment extends the exemption for drilling rigs and spares imported for rural water supply projects by substituting the terminal date in paragraph 2 of Notification No.129-Customs, under the powers of section 25(1) of the Customs Act, thereby continuing the existing tariff relief for the specified imports for an additional year.

Rescission of central excise notifications under rule 8(1) removes the force of specified prior notifications.
In exercise of the authority conferred by sub-rule (1) of rule 8 of the Central Excise Rules, 1944, the Central Government rescinds the following notifications: No. 56/75-Central Excises dated 1-3-1975; No. 57/75-Central Excises dated 1-3-1975; No. 116/75-Central Excises dated 30-4-1975; and No. 12/79-Central Excises dated 6-1-1979.

Exemption for specified excisable goods: duty waived when produced by government, khadi bodies, village industries or prisons.
Exemption from excise duty is provided for goods under the Central Excise Tariff when manufactured by Central Government factories for departmental use; by State Government factories for purposes Parliament deems incidental to government functions; by village industries certified by the Khadi and Village Industries Commission and marketed under the Act; or when manufactured in prisons, with "prison" defined to include subsidiary jails, reformatories and similar institutions.

Research institution approval requires separate research accounts, annual returns and audited accounts to prescribed authority, and timely renewal applications before expiry.
Approval of the Institute of Management in Government, Trivandrum, as an approved research institution is granted conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities to the prescribed authority by the annual deadline, submitting audited annual accounts and a balance sheet with copies to the concerned tax authority by the annual deadline, and applying for extension of approval to the central tax administration several months before expiry to avoid rejection.

Approval under section 35(1)(iii): institution recognised for research tax treatment subject to accounting, reporting and renewal conditions.
The Spastics Society of Eastern India is approved as an approved institution for tax recognition of scientific research expenditure, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities to the prescribed authority in the prescribed form and by the prescribed date, submitting audited annual accounts and a balance sheet to the prescribed authority with copies to the Commissioner of Income-tax, and applying for approval extension in advance to the tax board to avoid rejection.

Research institution approval requires separate research accounts, annual scientific returns, audited accounts submission and timely renewal application.
Approval is granted to Maharashtra Rajya Draksha Bagaitdar Sangh as an Institution for research-related provisions of the Income-tax law, conditional on maintaining a separate account for research funds, furnishing annual returns of scientific research activities to the prescribed authority by 30th April, submitting audited annual accounts and a balance sheet with copies to the Commissioner by 30th June, and applying to the Central Board of Direct Taxes for extension of approval at least three months before expiry.

Customs tariff amendment: ad valorem duty imposed on specified electrical apparatus parts, altering their tariff treatment.
An amendment inserts a new tariff entry covering parts of goods related to electrical apparatus falling under specified subheadings and prescribes an 60 per cent ad valorem duty rate for those parts, by adding a serial entry after the existing second entry in the Table of the prior exemption notification.

Customs tariff amendment replaces specified tariff entries for iron or steel, altering applicable headings under the existing notification.
The Central Government amends Notification No. 61/86 Customs by substituting, against Serial No. 6 in column (2) of the Table annexed to that notification, the existing entries with the specified tariff headings for iron or steel, thereby changing the applicable customs tariff entries under the notification.

Approval restriction under section 35(1)(ii) limits a trust's approved status to a defined period; renewal may be required.
Approval under section 35(1)(ii) of the Income-tax Act, 1961 granted to Dr. Vikram A. Sarabhai Ama Memorial Trust, Ahmedabad is restricted to the period terminating on 10-4-1988, as specified by an administrative notification which modifies the earlier approval issued by Ministry of Finance Notification No. 433 dated 14-8-1973.

Exemption for small scale units expanded to include clearances chargeable to nil rate of duty, broadening relief scope.
Amendment expands the exemption for small scale units by inserting the phrase "which are chargeable to nil rate of duty or" into Explanation II of Notification No. 175/86-Central Excises, thereby including clearances chargeable to nil rate of duty within the scope of the exemption.

Tax exemption notification under section 10(23C)(iv) designates Cawasjee Jehangir Charitable Trust for specified assessment years.
The Central Government notifies The Cawasjee Jehangir Charitable Trust, Bombay, as recognised under the income-tax exemption provision for charitable institutions, designating the Trust for the period covering the assessment years 1984-85 to 1986-87. The designation is effected by Notification No. S.O.2235 dated 17-3-1986, issued under the relevant clause of the income-tax statute.

Approval under section 35(1)(iii): institution must keep separate research accounts and file annual audited returns timely.
Approval of the National Labour Law Association as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act is subject to maintaining separate accounts for scientific research, filing annual research returns by 30 April, submitting audited accounts and balance-sheet to the prescribed authority and the Commissioner by 30 June, and applying for extension to the tax authority three months before approval expiry.

Exemption procedure amended to designate the Development Commissioner of the zone for specified imported capital goods on export.
The government, exercising statutory powers under the Customs Act, amended the Hindi text of an earlier notification by inserting the words "Development Commissioner of the said Zone" in condition No. (7) after the phrase "in this behalf by the", thereby clarifying the administrative authority responsible for exemptions relating to certain imported capital goods on export.

Customs exemption added for Gateway Telephone Exchange Project extending project imports relief under Customs Tariff Act provisions.
The Central Government, exercising powers under sub item (6) of Heading No. 98.01 of the First Schedule to the Customs Tariff Act, 1975 and having regard to economic development, amends notification No. 110 Customs by inserting a new serial entry to include the Gateway Telephone Exchange Project among exempted project imports.

Income tax notification amendment corrects the beneficiary name under clause 23C exemption, updating the notified organisation's designation.
Amendment issued under the powers conferred by sub clause (iv) of clause (23C) of section 10 of the Income tax Act revises notification No. 6182 dated 2 4 1985 by substituting the previously recorded designation with the corrected organisational name, thereby formally amending the earlier notification.

Input duty credit for specified intermediates allowed when accompanied by duty evidence documents, subject to turnover based exclusion.
Credit of duty on specified inputs used in manufacture of intermediate products is allowable under rule 57A when those intermediate products are received for use in manufacture of listed final products; specified inputs include polyvinyl chloride and PVC compound used for insulated electric wires and cables, and credit is conditional on presentation of documents evidencing payment of duty (Gate Pass, AR-1, Bill of Entry or other CBEC specified documents). The notification excludes manufacturers whose aggregate clearances of excisable goods for home consumption exceeded the statutory turnover threshold in the preceding year.

Input credit for specified inputs used in intermediate and final product manufacture allowed subject to notification and conditions.
Amendments redefine inputs to include materials manufactured and used within the factory and paints and packaging; permit sending materials out of the factory for testing, repair, refining, reconditioning or other necessary operations provided waste is returned; require declarations tying inputs to intended final products; and introduce rule 57 J empowering the Government to notify specified inputs used in intermediate products for duty credit under rule 57A subject to conditions and restrictions.

Tariff substitution: central excise notification replaces serial entry to classify machinery under revised tariff headings '82 or 84'.
The Central Government, under sub rule (1) of rule 8 of the Central Excise Rules, 1944, amends Notification No. 64/86-Central Excises by substituting in the Table at serial No. 2 the entry in column (2) with "82 or 84", thereby changing the tariff column entry applicable to the item listed at serial No. 2 for machinery, appliances and implements.

Customs exemption amendments modify notifications to expand cinematographic equipment coverage and remove several listed entries.
Amendments pursuant to executive power under section 25(1) of the Customs Act substitute, omit and insert specified entries in three Customs miscellaneous exemption notifications dated 1 March 1986: 187-Cus replaces the Sl. No. 48 entry with "Automatic film processor for use in the printing industry"; 189-Cus omits Sl. No. 12, removes the phrase excluding power cranes from Sl. No. 15, and inserts Sl. Nos. 26A and 26B listing cinematographic laboratory machines and cinematographic machines and apparatus; 190-Cus omits Sl. Nos. 31, 37, 52 and 63 from its Schedule.

Customs exemption amendments update listed notifications to omit entries, substitute tariff descriptions, and insert specific tariff items.
Customs exemption amendments direct targeted alterations to seven existing miscellaneous exemption notifications by omitting specified entries, substituting tariff descriptions, inserting additional tariff items, and varying description of parts and rates. The changes include omissions of listed serial entries, substitution of descriptive phrases for tariff items (for example replacing generic descriptions with references to specific sub headings or expanding "Parts" to "Parts and accessories"), and insertion of detailed tariff items with associated ad valorem rates for engines, pumps, compressors, air conditioning and refrigeration equipment, electrostatic precipitators, and parts of specified machinery.