Amendment of Exemption Notifications postpones operative date for specified customs motor vehicle exemptions under Customs Act authority
The Central Government, under section 25(1) of the Customs Act, 1962, issues Notification No. 330/87-Cus. directing that paragraph 2 of Notification Nos. 74/85-Cus., 75/85-Cus. and 222/87-Cus. be amended by substituting the previously stated operative date with a later operative date, thereby deferring the commencement of the exemptions in each notification.

Extension of exemption period: notification expiry date for light commercial motor vehicles moved to March 1988.
Amendment substitutes the expiry date in Notification No. 463/86-Central Excises: paragraph 2's "30th day of September, 1987" is replaced by "31st day of March, 1988" under the authority of sub rule (1) of rule 8 of the Central Excise Rules, thereby extending the notification's operative period for light commercial motor vehicles.

Research institution approval under income-tax law requires separate research accounts, annual returns and audited submissions before renewal.
Approval is granted to Sankara Medical Research Centre, Madras, as an approved research association subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 31st May; submit audited annual accounts, income and expenditure statement and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner of Income-tax by 30th June; and apply to the Central Board of Direct Taxes for extension at least three months before approval expiry.

Approval under section 35(1)(ii) recognition for research institution - conditional compliance requirements, annual reporting obligations and renewal timing.
Approval under section 35(1)(ii) is conferred on National Hospital and Medical Research Centre, Bombay, as an Institution for research purposes, conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 31st May, submitting audited annual accounts and balance sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June, and applying for extension to the Central Board of Direct Taxes before approval expiry; late applications may be rejected.

Rates of exchange prescribed as binding conversion benchmarks for stamp duty and customs calculations under statutory authority.
Prescribes statutory rates of exchange for specified foreign currencies to be used in calculating stamp duty under the Indian Stamp Act, 1899, and for determinations under section 14 of the Customs Act, 1962. The Central Government, exercising delegated powers and superseding an earlier notification, fixes conversion rates for each listed currency as set out in the Schedule, effective from the stated operative date, making the Schedule the binding reference for stamp and customs calculations.

Warehousing station designation enables customs warehousing to support export-oriented undertakings in a specified locality.
The Central Board of Excise and Customs, under section 9 of the Customs Act, 1962, declares Village Graddagunta, Tada Mandalam, District Nellore, Andhra Pradesh, to be a warehousing station for the purpose of setting up export-oriented undertakings operating entirely for export.

Warehousing station designation: Village Dabolim declared a customs warehousing station under statutory authority enabling regulated storage.
The Central Board of Excise and Customs, exercising powers under the Customs Act, has declared Village Dabolim in Marmagoa Taluka, District Goa, State of Goa to be a warehousing station, effectuating an administrative designation for customs purposes and enabling regulated storage and customs oversight at the named location.

Extension of exemption period for steel sheets and blanks-expiry date moved to 31st March 1988 to aid auto industry.
Amends a prior customs exemption notification by extending the operative period for relief concerning steel sheets and blanks used in the domestic automobile industry by substituting the earlier expiry date in paragraph 2 of Notification No. 522/86-Customs with a new later date, thereby continuing the tariff concession to support domestic automotive development without changing the substance of the exemption.

Extension of exemption period for titanium dioxide under Customs notification, prolonging the temporary exemption deadline.
Amendment extends the temporary exemption for imports of titanium dioxide by substituting the original expiry date in the earlier notification with a later date, thereby prolonging the operation of the exemption under the Customs Act; the change alters paragraph 2 of the prior notification to replace the former terminal date with the new terminal date.

Rescission of central excise notification withdraws earlier exemption under rule 8(1) of the Central Excise Rules.
The Central Government, exercising the power under sub-rule (1) of rule 8 of the Central Excise Rules, 1944, rescinds Notification No. 208/69-Central Excises dated 27 August 1969 by Notification No. 228/87-C.E. dated 25 September 1987, withdrawing the miscellaneous exemptions previously conferred by the rescinded notification.

Research institution approval under section 35(1)(ii) requires separate accounts and annual audited returns to maintain compliance.
Approval under section 35(1)(ii) is granted to Bhartiya Vidya Bhavan, Bombay as an "Institution" subject to conditions: maintain a separate account for scientific research; furnish annual returns of scientific research activities by 31 May; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June; and apply for extension at least three months before expiry. The approval is effective from 1 January 1986 to 30 September 1988.

Approval under section 35(1)(ii) requires separate research accounts, annual returns and audited accounts plus advance renewal application.
Approval was granted to Bhaskaracharaya Pratisthan, Pune, as an Association for recognition of scientific research expenditure, subject to conditions: maintain separate accounts for research receipts; furnish annual research activity returns by 31 May; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June each year; and apply to the Central Board for renewal at least three months before approval expiry.

Notification under income-tax provision recognizes Hyderabad Stock Exchange Limited's notified status for specified assessment years.
The Central Government, invoking the power under the provision corresponding to subsection (23C)(iv) of section 10 of the Income-tax Act, notifies The Hyderabad Stock Exchange Limited for the purposes of that clause and records its coverage for the specified assessment years set out in the notification.

Notification under section 10(23C)(iv): Madras Stock Exchange Limited notified for specified assessment years for clause applicability.
The Central Government, exercising powers under clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961, notifies Madras Stock Exchange Limited as a notified entity for the purposes of that clause and specifies the assessment years for which the clause's applicability is recognised.

Notification under section 10(23C)(iv): Tax exemption recognition granted to Cochin Stock Exchange for specified assessment years.
Notification under section 10(23C)(iv) records the Central Government's recognition of Cochin Stock Exchange Limited for the limited purpose of that clause of the Income-tax Act, thereby engaging the fiscal consequences associated with such notification for the enumerated assessment years and creating a time-bound statutory classification for tax treatment purposes.

Notification under section 10(23C)(iv): Bangalore Stock Exchange Limited notified as qualifying institution for specified assessment years.
The Central Government, exercising powers under clause (iv) of sub section (23C) of section 10 of the Income tax Act, notifies Bangalore Stock Exchange Limited as a qualifying institution for income tax purposes for the specified assessment years, thereby designating the Exchange within the category contemplated by that clause for the stated assessment years.

Income tax exemption notification recognizes Madhya Pradesh Stock Exchange for specified assessment years under section 10(23C)(iv) law.
The Central Government, by Notification S.O.111 dated 24-9-1987, designates the Madhya Pradesh Stock Exchange as an entity notified under section 10(23C)(iv) of the Income-tax Act for the assessment years 1985-86 to 1988-89, thereby classifying it within the tax-exempt category contemplated by that provision for those years.

Notification under section 10(23C)(iv) declaring Ahmedabad Share & Stock Brokers' Association notified for specified assessment years.
The Central Government, exercising powers under clause (iv) of sub-section (23C) of section 10, notifies The Ahmedabad Share & Stock Brokers' Association (Stock Exchange) by Notification No. S.O.110 dated 24-9-1987 for the purpose of that clause for the assessment years 1985-86 to 1988-89.

Customs ad valorem rate amendment lowers the applicable ad valorem duty under the specified exemption notification.
Amendment substitutes the ad valorem rate in Notification No.129/76-Customs by replacing the earlier rate of twenty-five per cent with ten per cent ad valorem, effected under the powers of the Central Government under sub section (1) of section 25 of the Customs Act, 1962, by textual substitution in the original exemption notification dated 2 August 1976.

Customs exemption scope expanded to cover initial setup, substantial expansion and modernisation of caustic soda units.
Amendment broadens the exemption to cover initial setting up, substantial expansion, or modernisation of caustic soda units; substitutes the Table entry to exempt Monopolar and Biopolar Membrane Electrolysers and their components including secondary brine purification components; and inserts an explanation defining substantial expansion as an increase in existing installed capacity meeting the prescribed threshold.