Alteration of depreciation schedule: government revises depreciation rates for aeroplanes and removes a specified schedule item.
Central Government, exercising the power to alter schedules under the Companies Act, substitutes the Schedule XIV entry for sub-item B.1 to prescribe new Written Down Value and Straight Line depreciation rates for aeroplanes, aero engines, simulators, visual systems and quick engine change equipment across shift categories, and omits sub-item C.1 from the Schedule, thereby modifying the Schedule XIV depreciation treatment for those asset classes.

Rescission of exemption withdraws customs exemption for plague medicament under central government's public interest powers via notification.
The Central Government, invoking its authority under the Customs Act and acting in the public interest, has rescinded the earlier notification granting an exemption for a medicament for plague, thereby withdrawing that specific customs exemption and returning the medicament to regulation under existing customs law.

Exchange rate determination fixes foreign to rupee conversion rates for export goods under Customs Act notification effective thereafter.
The Central Government, exercising powers under the Customs Act, determines specific foreign to rupee conversion rates for export goods and supersedes a prior notification; rates are set in Schedule I (per one unit) and Schedule II (per 100 units) and apply to conversions into Indian currency or vice versa from the stated effective date for customs purposes.

Exchange rates for imported goods prescribed to determine customs valuation and stamp duty effective from the specified date.
The notification prescribes exchange rates for conversion of specified foreign currencies into Indian rupees for calculating stamp duty and for determining values of imported goods under the Customs Act, superseding the earlier notification and applying the rates set out in Schedule I and Schedule II with effect from 1 November 1994.

Exemption for metal inputs: copper and aluminium exempt when used in-factory or to make utensils and handicrafts, with specified exclusions.
Exemptions apply to specified copper and aluminium goods when used within the factory or intended for manufacture of utensils or handicrafts; conditions include restriction where input duty credit has been taken and exclusion of manufacturers who produce metal from ore or concentrate, and a specific duty is prescribed for aluminium circles where the input-credit condition is not satisfied.

Excise exemption for untrimmed copper sheets and circles limits duty where goods are for handicraft or utensil manufacture.
The Central Government exempts untrimmed sheets or circles of copper under heading 74.09 from excise duty in excess of the amount calculated at the rate of Rs. 2000 per tonne, subject to conditions that the goods are for manufacture of handicrafts or utensils, no input duty credit has been taken under rule 57A or 57Q, and excluding manufacturers who produce copper from ore or concentrate.

Tax exemption under 10(23C)(v) notified for institute, subject to exclusive application, permitted investments, and business conditions.
Notification designates the Institute of the Franciscan Missionaries of Mary as eligible under 10(23C)(v) for specified assessment years subject to conditions requiring exclusive application or accumulation of income for its objects, investment of funds only in permitted forms (except certain voluntary contributions held as movable assets), and exclusion of business profits unless incidental and maintained in separate books.

Board nomination authority shifted to SEBI replacing central government under securities contracts rules amendment notification.
The amendment substitutes the marginal heading "Government nominees" with "Nominees of the Securities and Exchange Board of India" and replaces references to "The Central Government" with "The Securities and Exchange Board of India" in the Securities Contracts (Regulation) Rules, 1957, thereby allocating nomination and reference responsibility to the regulator.

Imports against Special Value Based Advance Licence: amendment clarifies non availment of pre existing procedural facilities and updates declaration wording.
The notification amends a customs exemption to substitute clause (b) of condition (iv), specifying that facility under rule 191A/191B as in force immediately before 1 October 1994, or under rule 12(1)(b) or rule 13(1)(b), has not been availed; and inserts corresponding wording in the Schedule II (Export) Part H declaration 2 to reference those pre October 1994 formulations or the equivalent Central Excise Rules provisions.

Customs exemption condition: prior use of the specified facility disqualifies entitlement to the notification relief.
The amendment to Notification No. 299/92-Customs substitutes clause (b) in condition (v) to require that the facility available under the earlier rule framework or the corresponding provisions of the cited rules must not have been availed, making prior use of that facility a disqualifying condition for entitlement to the notification's exemption.

Imports against Advance Licence: amendment restricts excise benefit claims, permitting only a specified excise notification exemption under Central Excise Rules.
The notification amends the Advance Licence conditions to provide that benefits under rule 191A or 191B as in force immediately before 1 October 1994, or rule 12(1)(b) or rule 13(1)(b) of the Central Excise Rules, 1944, shall not have been availed for materials under the licence, except for the benefit allowed by a specified Central Excise notification; and replaces the export declaration to require exporters to declare non-availment of those excise benefits for exports under the DEEC, except the expressly allowed notification relief.

Imports against Value Based Advance Licence: amendment clarifies non availment of specified rule based facilities as an entitlement condition.
Amendment substitutes clause (b) of condition (v) to require that the facility under the previously in force rules or under specified alternative rules has not been availed; and inserts language in Schedule Part 2 (Export), declaration 2, adding transitional and alternative rule references to the existing list of applicable rule citations.

Appointment of Collector of Customs to adjudicate specified company show-cause cases under the Customs Act, conferring jurisdiction transfer.
The Central Government, invoking sub-section (1) of section 4 of the Customs Act, appoints the Collector of Customs-II, Delhi, to be the Collector of Customs, Calcutta, solely for adjudicating show-cause matters concerning three specified companies as set out in the referenced show-cause notices, thereby transferring adjudicatory jurisdiction for those listed proceedings to the appointed officer.

Modvat credit expansion: inputs of specified textile headings permitted as credit when used in designated intermediate products.
The Central Government amends Notification No. 351/86 by expanding the Table at Sl. No. 1 to permit Modvat credit for inputs falling under headings 51.01, 51.02, 52.01 and 52.02 when used in specified intermediate products, substituting those headings into columns (2) and (3) and adding them to the description of final products in column (4).

Modvat extension adds tariff headings 51.06, 56.04 and 56.06 to the excise notification schedule amendment.
The Central Government amended an earlier excise notification to extend Modvat credit to additional tariff headings by substituting the figures and letters in column (4) of the Table for specified Sl. Nos., thereby broadening the list of headings eligible for Modvat credit under the notified schedule.

Modvat extension broadens input tax credit eligibility by adding specified tariff headings to the notification.
The Central Government, in exercise of powers under rule 57A of the Central Excise Rules, 1944, amends Notification No. 5/94-Central Excises (N.T.) by substituting entries in the annexed Table: column (2) replaces the prior reference with heading and sub heading numbers 51.01, 51.02, 52.01, 52.02, 53.04, and column (3) replaces its entries with 51.01, 51.02, 51.03, 51.05, 52.01, 52.02, thereby extending Modvat coverage to those tariff headings.

Central Excise amendment removes specified tariff headings, altering Modvat treatment for certain capital goods.
The Central Excise (12th Amendment) Rules, 1994 omit the figures "52.01, 52.02" from item (ii) of the Annexure below Rule 57Q of the Central Excise Rules, 1944, thereby altering the list of tariff headings and affecting the Modvat treatment applicable to the capital goods referenced.

Customs amendment permits export via post parcels and intra-complex transfers, with limited re-export of broken stones.
Amendment to Notification No. 3/88-Cus omits condition (v), renumbers subsequent conditions, and inserts permissions allowing export under the notification through post parcels as per Collector-prescribed procedure. It further empowers the Assistant Collector of Customs, subject to conditions, limitations and the Export-Import Policy, to permit transfers or supplies of imported goods or goods manufactured/packaged in the unit to another unit of the Jhandewalan Complex and to permit re-export of dead stock or broken stones up to a limited proportion of the import value of such stones.

Customs exemption for gem and jewellery imports permits duty free inputs for export production subject to authorisation, bonds and usage conditions.
Specified goods imported into Export Processing Zones and Free Trade Zones by gem and jewellery units for manufacture, packaging or promotion of exports are exempt from basic customs duty and additional duty under the Customs Tariff Act, subject to conditions: prior authorisation, applicable Reserve Bank permits and import licences, execution of a bond binding use within the Zone and prescribed disposal, maintenance and submission of import and export accounts, Development Commissioner confirmation of use, Assistant Collector powers over intra Zone transfers and re exports, and prescribed gold wastage allowances during manufacture.

Exemption for wool and cotton inputs when captively consumed or produced on job work and used in manufacture.
Exemption applies to wool, woollen yarn, cotton and cotton waste yarn when captively consumed or produced on a job work basis and used in manufacture of specified goods; the notification amends earlier Central Excise notifications by substituting expanded tariff heading and sub heading references and enlarging the set of tariff items in the Table so these inputs qualify for the exemption under the stated conditions.