Duty Free Credit Entitlement deadline extended; Status Holders may submit entitlement applications until the revised end-of-March filing date.
The deadline for filing applications for the Duty Free Credit Entitlement Certificate for Status Holders for the period 2003-04, as prescribed in Para 3.2.6 A-IV of the Handbook of Procedure Volume I (2002-07), has been administratively extended so that such applications may be submitted until the revised cutoff date, this extension having been issued with executive approval.

Cum-duty valuation circular withdrawn after apex court dismissed review; tax authorities instructed to notify and act accordingly.
The Board's Circular No. 749/65/2003-CX of 26/9/2003 on valuation of goods for Central Excise on a cum duty price basis is withdrawn following dismissal of the department's review petition by the higher court; departments are instructed to notify all concerned and take action accordingly.

Import port restriction for metallic waste and scrap now specifies permitted ports, altering authorised entry points for such consignments.
Amendment prescribes that imports of metallic waste and scrap in unshredded, compressed and loose form are permitted only through a specified list of ports and ICDs, and deletes Paragraph 2.32(i)(I)(c) of the Handbook of Procedures, thereby altering authorised entry points and associated import compliance requirements.

Pathogen-free import restrictions: SPF egg imports limited to countries free of avian influenza and subject to health protocol.
Amendment substitutes SION entry E-59 for Specific Pathogen Free (SPF) Eggs, specifying export/import composition and prescribing that imports be permitted only from countries free of Highly Pathogenic Avian Influenza. Imports must comply with the General Notes on Import Policy in the ITC (HS) Classification, meet phytosanitary requirements, and be accompanied at import by a Health Protocol from the Ministry of Agriculture, Department of Animal Husbandry and Dairying.

End of textile quota regime - customs to accept export documents early and permit shipment without quota certificates.
Customs field formations are directed to accept export documents for processing from 25th December, 2004 for textiles and readymade garments sailing on or after 1st January, 2005, and to allow clearance destined for quota countries without Quota Certificate/Visa/Export Certificates for goods shipped on or after 1st January, 2005.

End of textile quota regime: customs clearance permitted without quota certificates and expedited document processing ensured.
From January 1, 2005, exporters need not produce Quota Certificates, Visas, or Export Certificates from textile export promotion councils for textile and readymade garment consignments to quota countries; customs formations shall allow clearance without those certificates for shipments on or after that date and shall accept export documents from December 25 for ships sailing on or after January 1, with ports and airports remaining open on the first two January days without overtime charges.

Inclusion in Appendix: Intertek Group Plc added as a notified testing agency under foreign trade policy powers.
Under paragraph 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade issues a public notice adding Intertek Group Plc., with full contact details, to Appendix 28 of the Handbook of Procedures (Vol. I). The inclusion is made by exercise of the Director General's powers and published for public information.

Exporter flexibility to fix price and repay gold loan within prescribed period after export under amended handbook provisions.
The amendment grants exporters the flexibility to fix the price and to repay gold loans within 180 days from the date of export, by substituting the first sentences of Handbook sub-paragraphs 6.5.3 and 7.9.5. The change is effected under paragraph 2.4 of the Foreign Trade Policy, 2004-2009, through a public notice, thereby establishing a uniform time-bound repayment mechanism for gold loans linked to export transactions.

Special currency basket value revised - rupee valuation updated, affecting deferred payment protocols and AD bank obligations.
The rupee value of the special currency basket for Deferred Payment Protocols has been revised from Rs.58.6989 (effective June 24, 2004) to Rs.60.5127 effective November 27, 2004; Authorised Dealer banks are directed to inform their constituents. The circular is issued under the Foreign Exchange Management Act, 1999 and is without prejudice to other statutory permissions or approvals.

Addition of inspection agencies: two private firms added to the Handbook roster authorizing their inspection designation.
Addition to the official list of recognized inspection agencies under Appendix 28 of the Handbook of Procedures, Vol. I pursuant to paragraph 2.4 of the Foreign Trade Policy: two firms-SGS Lanka Private Limited (Colombo) and Alex Stewart International (Australia) Pvt. Ltd. (Burwood, NSW)-are added to Appendix 28, authorizing their designation for inspection-related functions and updating the Handbook's roster of approved inspection service providers.

Service tax on goods transport: notifications set exemptions, payer liability, consignment-note and compliance modalities.
Service tax on goods transport agency, defined by Finance (No.2) Act, 2004, is governed by Notifications 32-35/2004 effective 1 January 2005. These notifications establish exemptions (75% exemption with no input/capital duty credit; exemptions for fruits, vegetables, eggs or milk; exemptions for consignments below specified gross-charge thresholds), designate liability to pay (freight payer in specified institutional cases; otherwise the goods transport agency), require serially numbered consignment notes with specified particulars, limit registration to persons liable, permit centralized registration, restrict en-route verification absent Commissioner-authorized intelligence, and limit penalties for pre-31December2005 lapses to recovery with interest except where fraud or intentional evasion is found. Double charging for the same consignment is disallowed.

Service tax on goods transport agencies: liabilities, exemptions, consignment note and administrative safeguards for collection and enforcement.
Levy of service tax applies to services by a goods transport agency in relation to transport of goods by road in a goods carriage. Notifications prescribe exemptions (partial conditional exemption, perishable commodities, low-value consignments), allocate liability to the freight payer for specified commercial consignors/consignees with remaining liability on the goods transport agency in other cases, and mandate a serially numbered consignment note containing enumerated particulars. Administrative guidance limits registration to liable persons, allows centralized registration, restricts en route verification and subordinate audits without senior authorization, limits pre-imposition record demands, and prescribes recovery with interest but no penalty for transitional omissions except in cases of deliberate evasion.

Advance licence issuance on self-declaration allowed where SION absent, with specified exclusions and NOC for biotech items.
The amendment permits issuance of Advance licences where SION are not fixed based on self-declaration and an undertaking for final adjustment by ALC, while excluding Advance licences for imports of horn, hoof and other animal organs, pepper, items notified by the licensing authority, and exports of perfumes, perfumery compounds and feed ingredients containing vitamins (which must follow the alternative application route). Licences involving biotechnology items require a No Objection Certificate from the competent biotechnology authority.

Change in status of sub brokers requires prior approval, coordinated surrender or fresh registration, and liability undertakings.
Procedures require prior SEBI approval and payment of prescribed fees for changes in status or constitution of sub brokers; prior approval lasts six months during which the outgoing sub broker must apply for surrender and the surviving/incoming sub broker must seek fresh registration, both filed through the Exchange with recognition/de recognition letters and a joint undertaking accepting liability for pre change obligations. Surrender applications must include the Exchange's de recognition letter, disabling certificate, two public advertisements, original registration certificate, fees, and an undertaking, and Exchanges must forward such applications to SEBI with confirmations on pending proceedings and fee payment.

Deemed export benefits conditioned on recipient non-availment of CENVAT, with prescribed declarations and claim procedures.
Deemed export benefits are permitted only if the recipient has not availed CENVAT credit; suppliers must furnish recipient non-availment declarations with Central Excise registration details or a recipient declaration of non-registration, and a supplier declaration on excisability and CENVAT/rebate non-availability. Claim procedures are specified: certain supplies require claims against banked payments in Appendix-22A within six months of payment; other supplies allow claims based on proof of supply or payment, filed monthly, quarterly, or half-yearly as chosen, within six months from the end of the chosen period, including part payment claims. Appendix 12(B) is amended to include these document requirements.

Self-declared Advance licences allowed where SION absent, subject to final adjustment under ALC-fixed Adhoc or SION.
The amendment deletes specified Standard Input Output Norms and permits the licensing authority to issue Advance Licences where SION are not fixed based on applicant self-declaration and an undertaking, with a final adjustment to be made according to Adhoc norms or SION fixed by the ALC; issuance is expressly excluded for imports of horn, hoof and other animal organs, pepper, and any items the DGFT may notify.

Standard Input Output Norms amendments expand and revise SION entries affecting chemical, textile, plastic and food import-export inputs.
DGFT, invoking powers under the Foreign Trade Policy and Handbook of Procedures, amends the Standard Input Output Norms in Handbook of Procedures Vol.2 by making substitutions, corrections and deletions listed in Annexure A, and by adding new SION entries: chemical and allied products A-3471 to A-3490 (Annexure B), textile products J-363 to J-368 (Annexure C), and miscellaneous products K-169 to K-170 (Annexure D), each specifying export items and corresponding permitted import inputs and quantities for incorporation into the Handbook.

Notice period for corporate actions increased for securities with derivatives, requiring longer advance notice to stock exchanges.
Companies whose shares carry listed derivatives or form part of an index with derivatives must give extended advance notice to stock exchanges for corporate actions limited to mergers, de mergers, splits and bonus issues. Stock exchanges must implement the change immediately, amend bye laws and listing agreements where necessary, notify companies and publish the circular for investor access.

Return of pre-deposits: refunds must be made within three months and accrued interest paid as directed.
Pre-deposits ordered to be returned following favourable appellate or final authority decisions must be refunded within three months of the final order unless a superior court stay exists. Departmental procedures for refund and payment of interest on delayed refunds are reiterated. Delays beyond this period will prompt disciplinary action and potential recovery of interest liability from defaulting officers. Commissioners must monitor implementation, ensure payment of awarded interest, withdraw similar pending appellate litigation, and report compliance.

Education Cess accounting codes established, provisional minor heads opened and receipts to be transferred from Receipt Awaiting Transfer.
Principal Controller instructs Pay and Accounts Offices to account education cess deposits temporarily under the Sub Head/Minor Head "Receipt Awaiting Transfer" within the Major Heads for Customs, Union Excise Duties (Non-shareable Duties) and Service Tax until newly approved Minor Heads for Education Cess are opened, and directs transfer of amounts from Receipt Awaiting Transfer to the new Education Cess Heads when operational.