Customs exemption amendment expands the list of partner countries whose imports of specified goods are covered under the exemption.
Amendment expands the list of countries covered by the exemption in Notification No. 236/89-Cus by inserting additional country entries into Appendix I and by adding entries to Appendix II, effected under the Central Government's powers under section 25(1) of the Customs Act, 1962, on the ground of public interest.

Expansion of MODVAT eligibility to include units in Electronic Hardware Technology Parks under excise notification amendment.
Amendment to Notification No. 177/86-C.E. substitutes, in sub clause (b) of clause (1) of the first proviso, the word "undertaking" with "undertaking or a unit in an Electronic Hardware Technology Park", thereby extending the proviso's coverage to units in Electronic Hardware Technology Parks under the authority of rule 57A of the Central Excise Rules, 1944.

Specified bonds under section 80L: transfer benefit conditioned on transferee notifying issuer within required period.
The Central Government specifies the 18 per cent taxable secured redeemable non-convertible (IVth Series) bonds issued by Damodar Valley Corporation, Calcutta, as specified bonds under clause (ii) of sub-section (1) of section 80L; the benefit on transfer by endorsement or delivery is admissible only if the transferee informs the company by registered post within sixty days of such transfer, and the specification applies for the assessment year 1992-93 and subsequent years.

Exemption for bona-fide gifts imported by courier or under tariff heading, subject to value limit and exclusion of postal charges.
Bona-fide gifts (excluding alcoholic drinks) imported by courier or falling under tariff heading 98.04 are exempt from customs duty and additional duty, subject to a prescribed value limit; postal charges and air freight are excluded from the value determination.

Customs duty exemption for export zone imports allowed subject to authorisation, bonds, usage and export obligations.
Specified goods imported into the Vishakapatnam Export Processing Zone are exempt from customs duty when used for production, packaging or promotion of exports, conditional on unit authorisation, import licences, Development Commissioner approval, execution of a bond securing export obligations, use and accounting within the Zone, and compliance with transfer, re export and temporary removal permissions; duty becomes payable where goods are not used, re exported or accounted for as required, with prescribed exemptions for lost, damaged, scrap, samples, training goods and approved transfers.

Customs exemption caps ad valorem duty on specified imports for the National Stock Exchange Project under statutory authority.
The Central Government, exercising statutory power in the public interest, exempts goods under the relevant tariff heading imported for the stock exchange project from customs duty in excess of the amount calculable at a specified ad valorem rate, thereby limiting payable duty to that ad valorem ceiling.

Customs exemption: National Stock Exchange Project added to notification under Customs Tariff Act for tariff treatment.
The Central Government, under sub-item (6) of heading No. 98.01 of the First Schedule to the Customs Tariff Act, 1975 and for reasons of economic development, amends Notification No. 110/86-Customs by inserting a new Serial Number (24) listing the National Stock Exchange Project, immediately after Serial Number (23), to include that project within the notification's exemption framework.

Customs tariff scope expanded to include machinery, components and raw materials altering previous chapter-based coverage.
The Government amends the earlier customs notification by substituting the phrase "goods falling within Chapters 84, 85 or 90 of" with "machinery, instruments, apparatus and appliances, components (whether finished or not) or raw materials for the manufacture of aforesaid items and their components, falling within", thereby broadening the notification to cover specified machinery, components and manufacturing inputs rather than solely chapter-based goods classifications.

Customs notification amendment alters exemption coverage, omits a table entry and inserts a tariff item for specified notifications.
Central Government directs amendments to three customs exemption notifications: substitute the reference Chapter 29 with Chapter 29 or Chapter 30 in Notification No. 213/88; omit Serial No. 4 and its entries from the Table to Notification No. 250/92; and insert a new tariff item "4. 8-DM" after item 3 in the Table to Notification No. 20/93, thereby modifying the coverage and entries of those exemption schedules.

Customs duty exemption for L-Base imports enables reduced duty on inputs for chloramphenicol manufacture under public interest notification.
The Central Government, invoking section 25(1) of the Customs Act, exempts imported L-Base falling within the First Schedule to the Customs Tariff Act when imported for manufacture of Chloramphenicol powder or Chloramphenicol palmitate, from so much of the customs duty leviable thereon as exceeds the notified ad valorem rate; the exemption is stated to be in the public interest.

Customs exemption for rHu Erythropoietin waives excess import duty and entire additional duty under tariff law.
The Central Government exempts rHu Erythropoietin (Hemax) within Chapter 30 from customs duty in excess of an amount calculated at a fixed ad valorem rate and from the whole of the additional duty leviable under the Customs Tariff Act, the exemption being exercised under powers conferred by the Customs Act as necessary in the public interest for imports.

Excise exemption amendment: substitution of nil entry and widening sulphur description in notification, altering tariff treatment.
Amendment to Notification No. 7/92 C.E. exercises section 5A powers to revise the Table: it substitutes the entry "Nil" in column (5) against Serial No. 10 and replaces the words "sulphur powder" with "sulphur" in column (3) against Serial No. 12, thereby altering the exemption/tariff notation and the commodity description for classification purposes.

Exemption for Chapter 90 goods extended to manufacture of equipment using non conventional energy, aligning conditions with machinery.
Amendment broadens Notification No. 123/87-Cus by adding goods falling within Chapter 90 to the class of inputs exempt when imported for manufacture of equipment that functions with the aid of non-conventional forms of energy, and replaces "said machinery" with "said machinery or goods" in conditions (i) and (ii) so that the exemption's conditions apply to both machinery and Chapter 90 goods.

Post Office Monthly Income Account deposits made on or after 2 Sept 1993 bear interest at 13% per annum.
Amendment to the Post Office (Monthly Income Account) Rules, 1987 inserts into rule 8(1) that deposits made on or after 2 September 1993 shall bear interest at the rate of 13 per cent per annum, the amendment coming into force on publication in the Official Gazette.

Exchange rate determination sets prescribed currency conversion rates for export goods under statutory power, superseding prior notice.
The Central Government, under powers conferred by section 14(3)(a)(i) of the Customs Act, 1962, prescribes specific rates of exchange for conversion between foreign currencies and Indian rupees for export goods, superseding the earlier notification; two Schedules set unit and per-100-unit rates to be applied for export valuation and related formalities from the stated effective date.

Exchange rate determination for imported goods set effective 1 September 1993, governing stamp duty and customs valuation.
The Central Government prescribes exchange rates for specified foreign currencies, effective 1 September 1993, to be used for calculating stamp duty under the Indian Stamp Act and for purposes of section 14 of the Customs Act insofar as they relate to imported goods, superseding the earlier notification; two Schedules annexed set rates per unit (Schedule I) and per one hundred units (Schedule II).

Due date for tax audit reports for working partners specified, requiring submission by the notified deadline for the assessment year.
The Central Board of Direct Taxes specifies 31st October, 1993 as the due date for furnishing tax audit reports by working partners of firms for the assessment year 1993-94. This applies to working partners entitled to remuneration under the partnership deed where firms were required to have accounts audited for the previous year ended 31-3-1993, and where such remuneration is payable as a proportion of book profits.

Customs duty relief for paperboard manufacture expanded to include additional duty in amended notification provision.
The notification substitutes the prior phrase by providing that paperboard making qualifies for relief (a) from so much of that portion of the duty of customs leviable thereon which is specified in the First Schedule as is in excess of the amount calculated at the pre-existing ad valorem rate; and (b) from the whole of the additional duty leviable thereon under section 3 of the second mentioned Act.

Delegation of government powers to Regional Directors enables local exercise of authority over directors' interested contracts under company law.
Notification GSR 563(E) dated 19 8 1993 delegates to the Regional Directors at Bombay, Calcutta, Madras and Kanpur the powers and functions of the Central Government under the proviso to section 297(1) of the Companies Act, 1956 concerning contracts in which directors are interested, and comes into force from the date of its publication in the Official Gazette.

Tax exemption under section 10(23C)(v) granted subject to conditions on income application and permitted investments.
The central government notified the Congregation as entitled to tax exemption as a charitable institution for assessment years 1993-94 to 1995-96, subject to conditions: income must be applied or accumulated wholly and exclusively for the institution's objects; investments or deposits are restricted to forms permitted by law (excluding voluntary contributions retained as movable items); and business income is excluded unless incidental to objectives and maintained in separate books of account.