Export permission for rice: certified stock in specified godowns may be exported despite the general prohibition.
Amendment permits export of rice brought into the godowns of Kakinada city before the specified cut off date, provided the State Government of Andhra Pradesh certifies that the rice was stored in those godowns prior to that date; this exception is added to the notification prohibiting export of non basmati rice and issued in the public interest.

Excise exemption for naval fuels conditioned on supplier registration, recordkeeping and monthly reconciliation, with duty for unaccounted supplies.
Amends the Central Excise notification by exempting fuels under Chapter Heading 2710 when manufactured and supplied by Indian Oil Corporation Limited, or procured by IOCL from another manufacturer and supplied, as stores for consumption on board Indian Navy or Coast Guard vessels, subject to IOCL obtaining registration with the jurisdictional Assistant/Deputy Commissioner, maintaining records of receipt and supply, submitting monthly reconciliation statements and proving supplies to the satisfaction of the jurisdictional central excise officer; non-compliance attracts payment of excise duty on unaccounted fuels with interest.

Export prohibition exception for non-basmati rice: price-threshold exemption permits exports when Minimum Export Price conditions are met.
Prohibition on export of non-basmati rice is subject to an MEP-based exemption: the ban does not apply where the Minimum Export Price exceeds a specified FOB threshold. The exemption excludes exports under letters of credit opened by the stipulated cut-off and rice entered into port godowns for export by the stipulated cut-off, as certified by port authorities.

Index fund scheme regulation permits securities lending, short selling and exchange-traded derivatives subject to regulatory frameworks.
Amendments define an index fund scheme and impose caps on its investment/advisory fees and total expenses. Scheme funds are prohibited from carry forward transactions but may enter into derivatives on recognized exchanges and may engage in short selling and securities lending and borrowing, each subject to the Board's specified frameworks. Mutual funds must generally trade on a delivery basis, with express exceptions permitting short selling and exchange traded derivatives under the Board's frameworks.

Amendment to foreign trade notification adjusts the notified effective date for provisions, altering commencement of those measures.
An amendment to Notification No. 38 (RE 2007)/2004 2009 substitutes the previously stated effective date with a new date, made under the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 and relevant paragraphs of the Foreign Trade Policy, 2004-2009, and declared to have immediate effect in the public interest.

Scientific research association approval contingent on direct research, audited accounts and certified donation statements.
Northern India Textile Research Association is approved as a scientific research association from 1 April 2000, subject to conditions: its sole objective must be scientific research conducted by the organization itself; it must maintain books of account and obtain an audit by a defined accountant, furnishing the audit report by the income tax return due date; and it must maintain an auditor certified separate statement of donations received and amounts applied for scientific research.

Research exemption approval: recognition subject to utilization, audit and reporting requirements, and possible withdrawal for noncompliance.
Approval granted to Hari Shankar Singhania Elastromter & Tyre Research Institute, Rajasthan as an other Institution partly engaged in scientific research from 1 April 2004, subject to conditions: utilization of sums for scientific research; research conducted by faculty or enrolled students; maintenance of books of account and audit by a qualified accountant with the audit report filed by the income tax return due date; and maintenance of an auditor certified statement of donations and amounts applied for research. Approval may be withdrawn for failures to maintain accounts, furnish required reports, or for cessation or non genuine research activities.

Anti-dumping duty on Vitamin A Palmitate imposed, applying definitive per-kilogram rates to imports from specified countries.
Anti-dumping duties have been imposed on Vitamin A Palmitate (tariff item 2936 21 00) originating in or exported from Switzerland and the People's Republic of China following findings of dumping, substantial dumping margins, and material injury to the domestic industry. The Central Government has prescribed definitive per-kilogram duty rates in a table differentiating by country of origin/export and by producer/exporter where identified. The duties are effective from the date provisional duties were imposed and the notification contains a specified expiry date unless earlier revoked.

Special Economic Zone designation for information technology and IT enabled services establishes a notified development area at Nowluru.
Notification designates a Special Economic Zone for information technology and information technology enabled services at Nowluru Village, Guntur District, pursuant to central government approval and SEZ rules, and specifies the notified parcels by survey number and extent, aggregating to a defined total area for development, operation and maintenance of the sector specific zone.

Anti-dumping duty rescission restores tariff status for vitrified and porcelain tile imports under statutory authority.
The Central Government rescinds Notification No.96/2005-Customs that imposed anti-dumping duty on imports of vitrified and porcelain tiles (other than vitrified industrial tiles), exercising powers under the Customs Tariff Act and the Customs Tariff Rules, 1995, with the rescission not affecting actions done or omitted before its commencement.

Anti-dumping exemption for specified producers and exporter removes duty on their vitrified and porcelain tile imports into India.
Inserting a proviso into the principal anti dumping notification to state that no anti dumping duty shall be imposed on imports of vitrified and porcelain tiles falling under Chapter 69 when produced by the two specified related companies and exported by the named exporter; the amendment is effective from the date provisional assessment was ordered for that exporter, reflecting the designated authority's finding of negative dumping margin in the new shipper review.

Export exemption for rice: port-certified stocks at port godowns may be exported despite general prohibition under the policy.
Amendment permits rice brought into port godowns for export by the cutoff date, as certified by port authorities, to be exported despite the prohibition on non-basmati rice, as an addition to the specified Notification under the Foreign Trade Policy issued in the public interest.

Deeming of Special Economic Zones as Inland Container Depots enables customs treatment under the Customs Act.
The Central Government appoints 23 October 2007 as the date from which the specified Special Economic Zones are deemed to be Inland Container Depots under section 7 of the Customs Act, 1962. The notification lists named SEZs with their developers and locations, and effects the administrative deeming so that, from that date, those SEZ premises are subject to the customs regime applicable to Inland Container Depots.

Export exemption for rice to Maldives allowed, lifting notification restrictions under bilateral trade agreement terms.
The amendment adds that exports of rice to Maldives under the bilateral Trade Agreement between the Government of India and the Government of Maldives are exempted from restrictions imposed by the cited Notification, creating a treaty based carve out within the Foreign Trade Policy framework effective immediately.

Export restriction exemption for onions: NOCs from designated canalizing agencies permit exports despite the restriction.
The amendment provides that the export restrictions on onions do not apply to exports undertaken against No Objection Certificates issued by designated canalizing agencies, limited to NOCs issued up to the date specified in the amendment; the change is made under powers granted by the Foreign Trade Act and relevant Foreign Trade Policy provisions and is issued in the public interest.

Fair market value of employee share options determines fringe benefit tax liability on vesting under prescribed valuation rules.
Rule 40C prescribes that fair market value of an equity share for fringe benefit tax is determined on the option vesting date: for listed shares it is the average of opening and closing prices on that date (using the exchange with highest trading volume where multiple listings exist, or the nearest preceding closing price if no trading occurs); for unlisted shares it is the value determined by a category I merchant banker on the specified date. Definitions specify opening/closing price, merchant banker, recognised stock exchange, specified date and equity share.

Surrender of foreign exchange: resident individuals must deliver received or unspent foreign currency to authorised persons promptly.
The amendment narrows applicability of certain provisions to persons not being individual residents in India and inserts regulation 6A requiring resident individuals to surrender received, realised, unspent or unused foreign exchange, including currency notes, coins and travellers cheques, to an authorised person within a specified period from receipt, realisation, purchase, acquisition or return to India.

Remittance of FCNR(B) maturity proceeds to third parties permitted if authorised by account holder and bona fides are satisfied.
Authorised dealers may permit remittance of maturity proceeds of FCNR (B) deposits to third parties outside India provided the remittance is specifically authorised by the account holder and the authorised dealer is satisfied about the bona fides of the transaction.

Foreign direct investment access from Bangladesh allowed with prior approval under the FDI scheme, subject to specified conditions.
Regulation 5 is amended to permit citizens of Bangladesh and entities incorporated in Bangladesh to purchase shares and convertible debentures of Indian companies under the FDI Scheme, subject to prior approval of the Foreign Investment Promotion Board and the terms and conditions specified in Schedule 1; Schedule 1 is substituted to state that persons referred to in clauses (i) and (ii) of sub regulation (1) of Regulation 5 may purchase such securities to the extent and on the terms set out in the Schedule.

Section 35AC exemption extended for home for spastics project; scheme eligibility renewed but prior year certificate not issued.
Notification notifies the Handicapped Children's Parents Association project "Construction, aids/applications/equipments, vans, furnishing and running of home for spastics" as an eligible project or scheme for a further three-year period beginning with financial year 2006-2007, without change in the approved cost of Rs.245 lakh; however, since financial year 2006-07 has elapsed, no certificate for exemption of donations shall be issued for that year.