Transhipment of cargo from port to ICDs: IGMs can serve as implicit transhipment requests for registered MLOs under specified conditions.
The IGM's SMTP portion will be treated as a transhipment request for Middle Line Operators (MLOs) provided MLOs register once with Customs, specify a different Port of Destination from Port of Discharge, accept system-calculated bond values based on container size (via ISO codes), pay transhipment fees from an MLO PLA, ensure the transporting agency has a carrier code, and register either their TP/GB bond or authorization to use a carrier's bond for auto-debiting.

Importability of compressors using non-ozone depleting substances allowed; registration requirement not applicable, permitting customs clearance.
Clarification that registration under the Ozone Depleting Substances rules applies only to compressors using ozone depleting substances; compressors filled with non-ozone depleting substances or containing no refrigerant gas are exempt from that registration requirement, and customs may allow their import and clearance accordingly.

Review of release of seized assets requires departmental audits and staged reporting to identify and resolve unreleased property.
The Board directs a departmental review of seized assets remaining in custody and not released, requiring prescribed proforma data identifying seizure values and asset breakdowns, release dates or reasons for non-release, and staged submission of reports supervised by Chief Commissioners to the Board to enable appropriation and resolution of unreleased property.

Reporting requirements: standardized quarterly investigation and assessment reports plus historical data submission for parliamentary queries.
Standardized quarterly reports are mandated from DGsIT(Inv.) and CCsIT(Central): Investigation Quarterly Report I on search functions, seized asset appropriation/release and rewards, and Investigation Quarterly Report II on assessment functions related to search cases. These prescribed proformas must be submitted to the Board by the post quarter deadline, while monthly DOs and telex search reports continue. A one time submission of historical data in a specified Annexure format is required to build a central data bank for parliamentary and RTI requisitions, with provision for electronic copies.

Notification of Annual Supplement to Handbook of Procedures under Foreign Trade Policy; updated appendices now in effect and available online.
Notification exercising Paragraph 2.4 of the Foreign Trade Policy to incorporate an Annual Supplement into the Handbook of Procedures (Volume I), stating the Annual Supplement and Appendices are available on the Directorate General of Foreign Trade website and that the update takes effect from 1 April 2006.

Import restriction on sandalwood: imports allowed only with DGFT licence issued in consultation with environment ministry.
Import of sandalwood is restricted and allowed only against an import licence issued by the DGFT in consultation with the Ministry of Environment and Forest; the ceiling for each licensing year will be monitored by that Ministry. Licences are valid for one year and not revalidatable. Applications must be submitted on the Aayaat Niryaat Form to DGFT headquarters with a Certificate of Origin, a phyto sanitary certificate, species/quantity/source details, stated purpose, proof of legal registration for processing units or past performance for traders, and, for subsequent imports, utilisation certificates and transit permits. The Exim Facilitation Committee will consider applications and may specify conditions.

FII debt investment limits increased; allocation rules, headroom and listed debt restriction set for government and corporate securities.
SEBI raised aggregate ceilings for FII investments in Government securities/T Bills and corporate debt and allocated those ceilings between 100% debt FIIs and general 70:30 FIIs/Sub Accounts, with separate headrooms for general FIIs that trigger approval procedures once exhausted; the Board may withdraw unused allocation. FIIs are restricted to listed corporate debt securities and FII subscriptions to commercial paper count within the corporate debt ceiling, with revised individual limits for 100% debt FIIs/Sub Accounts to be advised separately.

Amendment to DEPB Schedule updates export product descriptions, revising industrial valve and calcium hypochlorite entries.
Amendment to the Schedule of DEPB rates revises export product descriptions: Product Group Engineering (Product Code 61) entry at Sl. No.484 is recorded as "Industrial Valve (cast or forged body)" effective from the stated retrospective date; Product Group Chemicals (Product Code 62) entry at Sl. No.958 is amended to "Calcium Hypochlorite Hydrated." These modifications are made under powers in the Foreign Trade Policy and Handbook of Procedures and issued in the public interest.

Employees Stock Option Scheme liberalisation allows authorised banks to permit overseas ESOP remittances and repurchases with conditional reporting.
Authorised Dealer banks may permit remittances for acquiring ESOP shares whether issued directly or via trust/SPV/step down subsidiary provided the issuing company holds not less than 51% of the Indian company, the ESOP is offered globally on a uniform basis, and an Annual Return with remittance and beneficiary details is submitted to the Reserve Bank (Annex I). Foreign companies are granted general permission to repurchase such shares if issuance complied with FEMA rules, repurchase follows the initial offer document, and an Annual Return is filed (Annex II).

Issuance of GSP Certificates facilitated via Nagpur extension counter; FTDO available weekly on Mondays and Tuesdays.
Issuance of GSP Certificates will be facilitated through the Nagpur Extension Counter for matters within the Zonal Jt.DGFT, Mumbai jurisdiction; a Field Trade Development Officer from Raipur will be available at Nagpur on Mondays and Tuesdays and Trade members are requested to use this facility as a facilitation measure.

Initial Issue Expenses: closed-ended schemes may charge initial issue expenses; open-ended schemes must use entry load.
Initial issue expenses are permitted only for closed-ended schemes, which then must not levy entry load; amortised issue expenses may be recovered proportionately on redemption prior to full amortisation, and conversion to open-ended status or fresh issuance is allowed only after full recovery of unamortised issue expenses. Trustees must fix dividend quantum and record date, dividends are payable only from distributable surplus, NAV will be adjusted for payout and statutory levy on the record date, and AMCs must issue timely public notice; frequent dividend options with disclosure may be exempt from notice requirements.

Abatement for goods transport agencies confirmed withdrawn where Notification 32/2004 and Notification 35/2004 conflict.
The Directorate confirms withdrawal of its earlier clarification that the benefit of Notification No. 32/2004-S.T. is not available where the provisions of Notification No. 35/2004-S.T. apply; the letter dated 30-3-2005 was withdrawn by Directorate letter dated 11-4-2005, and this withdrawal is reiterated for administrative guidance on goods transport agency abatement.

Indian Depository Receipts listing rules require in principle approval, immediate board disclosures and comprehensive corporate governance reporting.
Model Listing Agreement for IDRs requires issuers to obtain in-principle listing permission, submit SEBI observation letters, merchant banker and depository due diligence reports, deposit prescribed security and pay listing fees. Issuers must make rapid disclosures (within 15 minutes of board closure) of dividends, buybacks and corporate actions, file quarterly and annual audited financials (under Indian GAAP, IFRS or US GAAP as chosen), consolidated statements, shareholding patterns, EDIFAR filings and immediate public disclosure of material events to prevent false markets.

Issuer eligibility for Indian Depository Receipts: listing, regulatory compliance and disclosure standards govern permissible IDR issues.
Chapter VIA supplements the IDR Rules by prescribing an integrated regulatory framework for issuance of Indian Depository Receipts (IDRs), including issuer eligibility (home listing, regulatory non-prohibition, compliance record), investor restrictions and subscription mechanics, mandated minimum subscription and refund/interest obligations, comprehensive prospectus and abridged prospectus disclosure requirements covering offer terms, risk factors, audited financial statements with GAAP reconciliation, capital structure, use of proceeds, governance and investor grievance redressal, and procedural certifications and filings by Merchant Bankers and intermediaries.

Disclosure rationalization for listed issuers allows abridged rights offer documents and conditional omission of detailed disclosures.
Amendments permit listed issuers meeting specified periodic filing and investor grievance criteria to omit certain detailed disclosures from prospectuses and letters of offer if certified by the Lead Merchant Banker and accompanied by an undertaking and public availability of the immediately preceding offer document; authorise abridged letters of offer for rights issues with prescribed contents; allow rights issue pricing before record date in consultation with the Designated Stock Exchange and fixed price public issue pricing prior to prospectus filing with ROC; permit further share issues after draft filing if total capital to be raised is fully disclosed; and clarify that the one year lock in runs from allotment.

Deduction under section 10A: STP unit approvals by Directors will not alone disqualify claims if other conditions met.
Section 10A grants a ten year deduction for profits of export oriented undertakings subject to commencement, formation and machinery use conditions. Where STP units were approved or registered by Directors of Software Technology Parks, such approval alone shall not defeat a claim under section 10A; the Inter Ministerial Standing Committee will review past Director approvals. Assessments denying section 10A solely for lack of Committee approval should have resulting demands kept in abeyance, and allowance of deduction must await verification that all other statutory conditions are met.

E filing of returns encouraged; commissioners to promote electronic filing and enforce registration and charter timelines.
The Board directs promotion of e filing of returns for excise and dealers' returns, regular convening of Regional Advisory and Public Grievance Committees chaired by Commissioners to secure trade participation, strict compliance with the prescribed registration procedure including immediate acknowledgements and issuance of deficiency notes within two days, and adherence to timeframes in the Citizen's Charter; immediate action with intimation to the Board is requested.

Prior permission for inspections required for visits to non-SSI units; officers must follow SSI visit procedures.
Visits to manufacturing units outside the SSI category require prior permission from the Assistant Commissioner or Deputy Commissioner, and officers must follow SSI inspection procedures, including making entries in the assessee's Visitor's Book and observing established entry and verification practices; strict compliance is required and violations will be viewed seriously.

Centralization of preventive units emphasized; prompt return of documents and safeguards against vexatious searches mandated.
Centralize Preventive/Anti-evasion wings at Commissionerate headquarters with permitted branch offices in distant divisions. Return unrelied documents promptly and provide certified copies for statutory and financial purposes within thirty days at assessee cost; retain relied-upon documents until case finality. Officers must carry identity cards, present them on visits and record particulars in assessees' visitor books. Reiterate prohibition on vexatious searches, detentions or other injurious acts without reason to believe they are required for execution of duty; senior officials must ensure compliance and strict implementation.

Export valuation and inspection dispensation reaffirmed, requiring uniform implementation, publicity, strict compliance and reporting by field formations.
Field formations must uniformly apply existing CBEC instructions on valuation of export goods, valuation of second-hand machinery, export sample-drawal frequency, and dispensation of examination for factory-stuffed export cargo; those instructions must be widely publicised, strictly complied with, and a report on action taken submitted to the Board.