Load on bonus and reinvested units prohibited; AMCs must disclose non-levy in offer documents and issue addenda for investors.
Mutual fund AMCs are directed not to levy entry or exit load on bonus units and on units allotted on reinvestment of dividend; AMCs must disclose this non-levy in draft offer documents filed with the regulator. The no-load requirement applies to redemptions by existing unitholders from the regulator's effective date, and AMCs must issue addenda to scheme documents to implement the change, under the regulator's statutory investor protection and market-regulation powers.

Duty Drawback rate revision requests industry data on input consumption and tax incidence to update export refund rates.
Revision of All Industry Rates under the Duty Drawback Scheme requests stakeholders to submit, in the prescribed multi-part proforma, comprehensive lists of inputs used in export manufacture together with actual export costs, sales realizations and service tax incidence; submissions should be representative, supported by Bills of Entry, Shipping Bills, invoices where possible, sent to the designated e-mail and received by the stated deadline for use in reworking drawback rates.

Customs preventive supervision required for movement and clearance of import containers to an appointed buffer yard under custodian control.
An additional buffer container yard is designated for import container storage with M/s India Gateway Terminal Pvt. Ltd. appointed as custodian. Movements between docks and the yard must be under Customs preventive supervision and escorted when required; the yard operates during specified daytime office hours. Custodian and Customs must maintain registers recording seal numbers and entry/exit times; clearance from the yard is permitted only under supervision of the Customs Preventive Officer who must ensure completion of all formalities and report any tampering or abnormalities to the relevant AC/DCs.

Inclusion of National Investment Fund as eligible investor expands issuer eligibility under SEBI disclosure guidelines, effective immediately.
Amendment inserts sub clause (l) into sub clause (v) of clause 2.2.2B after sub clause (k), stating: "National Investment Fund set up by resolution F. No. 2/3/2005 DD II dated November 23, 2005 of Government of India published in the Gazette of India." The amendment is effective immediately and the revised Guidelines are published on SEBI's website.

Proprietor name inclusion in excise invoices required; registration and returns revised to capture proprietor identity and inventory.
Excise rules now require excise invoices and registration certificates to include the proprietor or Hindu Undivided Family name so the Department records the person responsible for manufacture and clearance. Existing proprietorship registrations need not be resubmitted and may be updated suo moto; partnership application forms must list all partners. ER 1 and ER 3 return formats have been revised to record opening and closing balances of manufactured and cleared goods, to add serial numbering and totals, and to separately disclose CENVAT credit utilized for rule specified payments and for other payments, facilitating scrutiny and calculation.

Extension of export obligation block: regional authorities grant extensions subject to duty-saved payment; larger cases referred to HQ.
Regional Authorities are empowered to consider requests for extension of the Block of years for fulfilment of export obligation and may allow extensions on payment of 2% of duty saved on unfulfilled export obligation for each block for licences up to Rs.50 crores; cases above Rs.50 crores are to be forwarded to DGFT (HQ) for EPCG Committee consideration. The rule applies to all licences irrespective of date of issue and is effective from the date of the circular.

Access to registered premises: authorised officers may enter for scrutiny to safeguard revenue under Rule 5A.
An officer authorised under Rule 5A of the Service Tax Rules is empowered to access premises registered under these rules for scrutiny, verification and checks necessary to safeguard revenue. Inspectors and above in Service Tax Divisions I/II/III of the Pune III Commissionerate and in specified Headquarters units are authorised to exercise these powers within their jurisdictions.

Service tax audit coverage expanded to additional specified services and significant refund claimants, increasing enforcement capacity.
The Commissionerate expanded service tax audit activity to include previously sparsely audited categories-GTA, cargo handling and packaging, outdoor caterers, mandap keepers, custom house agents, computer training institutes, broadcasting agencies, event management, tour operators and architects-while continuing audits in major service sectors. It also directed targeted audits of entities claiming significant refunds under Rule 5 of the CENVAT Rules and augmented administrative capacity by adding two audit teams to the existing eight.

Dematerialisation requirement enables shifting securities from trade for trade to rolling settlement once compliance and certification are met.
Companies with connectivity to both depositories may be shifted from the Trade for Trade Segment to the Rolling Segment if at least one-half of non promoter holdings under the listing agreement are in dematerialised form, evidenced by a certificate from the Registrar and Transfer Agent or, if no RTA, from a practicing company secretary or chartered accountant, and if there are no other grounds for continuation in the Trade for Trade Segment. Stock exchanges must report actions taken in their periodic development reports.

Service tax on agency commission: nodal bank netting can reduce declared tax, prompting compliance review and corrective action.
Banks must include the full agency commission received on government transactions in their service tax base; instances were found where nodal branches netted commissions and currency chest branches paid service tax only on the net amounts, prompting a review of nodal bank registration and reporting to ensure correct tax liability and remedial action by field formations.

Excise duty exemption for water-supply pipes now covers both initial installation and replacement with certificate requirement.
Excise duty exemption under notification No. 6/2006-C.E. for machinery and auxiliary equipment for water treatment and supply plants covers pipes used for delivery and storage, including outer diameter exceeding 20 cm when integral to the project, subject to a Certificate from the District Collector/Magistrate that the goods are required for the intended purpose; the exemption applies to both initial installation and replacement of worn-out or damaged pipes.

FDI reporting obligations require companies to file FC GPR and annual returns with RBI detailing share issuances and inflows.
Foreign direct investment reporting under FEMA requires Indian companies to file the prescribed FC GPR through an Authorised Dealer Category I bank and an annual Part B return to the RBI. The FC GPR demands detailed investor and issuance particulars, mode and amount of inflow, fair value disclosure, post issue shareholding, and accompanying declarations and certificates from the authorised representative, company secretary and statutory auditors. The Part B annual return reports outstanding foreign liabilities and assets, portfolio positions, market and net asset values, and shareholding patterns as at end March for statistical monitoring.

EPCG scheme compliance requires bonds and bank guarantees to secure duty exemptions until export obligations are discharged.
Procedure prescribes registration, security and closure formalities for the EPCG scheme: licence registration requires original licence, prescribed bond and applicable Bank Guarantee or Corporate Guarantee; bonds must cover duty ordinarily leviable and interest, with BG norms and possible reduced BG on certified export performance or specified registration proof. Installation of imported capital goods must be certified by Central Excise or an independent chartered engineer. After fulfillment of export obligation, exporter must obtain EODC and apply with specified documents for cancellation of Bond/LUT and BG, upon which customs will cancel and return security.

Import cutoff date for sandalwood applications set annually; late filings handled on first-come-first-served basis if quota remains.
Cutoff for filing applications to import sandalwood is fixed as the 31st of July in each licensing year; thereafter further applications will be processed on a first come first served basis provided the earmarked quantity has not been exhausted.

Price band policy: waive first-day bands for corporate reorganisations and specified restructuring, retain bands in other cases.
SEBI removes the requirement for a price band on the first trading day where trading follows mergers, de mergers, amalgamations, capital reductions, schemes of arrangement under the Companies Act or court sanction, rehabilitation packages under the Sick Industrial Companies framework, and Corporate Debt Restructuring packages; price bands remain applicable in other cases. Stock exchanges must implement the policy immediately and report compliance in their Monthly Development Report.

Monitoring of export proceeds: EDI BRC alerts require exporters' bank certificates and affidavits to secure drawback payments.
Exporters must furnish port-wise Authorized Dealer certificates or BRCs and an affidavit listing ADs when filing Drawback Shipping Bills; normal exporters file such certificates quarterly and status holders or exporters with extended realization periods file half-yearly. An ICES BRC module will register submissions, issue alerts for missing BRCs/negative statements against Shipping Bills keyed to LEO dates, allow officers to clear alerts by entering BRCs, negative statements or recovery order details, and support recording adjudication to prevent further drawback disbursal until recovery.

Publication of names under section 73D for serious service tax offences; criteria and procedure set for media disclosure.
The guidelines operationalise section 73D via the Service Tax (Publication of Names) Rules, 2008, permitting publication in the public interest where material evidence shows fraud, collusion, wilful mis-statement or suppression to evade tax; penalty particulars may not be published until appeal opportunities lapse or appeals are disposed. They set monetary thresholds for offence and repeat cases, allow naming of associated officials when justified, prescribe a proposal-and-review process through jurisdictional officers, Chief Commissioners/DGCEI, a Board committee and Central Government approval, and mandate sparing use.

Foreign investment in titanium mineral mining permitted with full ownership under prior approval, subject to technology transfer and tailings rules.
Foreign direct investment up to 100% with prior Government approval is allowed in mining, mineral separation, value addition and integrated activities for titanium bearing minerals and ores, subject to sectoral regulations and the Mines and Minerals (Development and Regulation) Act. FDI in separation is conditioned on establishing value addition facilities in India with technology transfer and on tailings disposal complying with Atomic Energy Regulatory Board rules including the Atomic Energy (Radiation Protection) Rules, 2004 and Atomic Energy (Safe Disposal of Radioactive Wastes) Rules, 1987. FDI is not allowed for mining of substances listed as prescribed under Notification S.O. 61(E).

Double cess liability: exporters may be charged both agricultural and processed-food export cess if an item is scheduled under both Acts.
Where an export item is included in the schedules of both the Agricultural Produce Cess Act and the Agricultural and Processed Food Products Export Cess Act, each Act imposes an independent cess and both cesses may be levied on the same export; field formations are to finalize pending assessments reflecting that legal position and the earlier single-charge Circular is withdrawn.

FDI policy in petroleum refining now permits increased foreign equity with prior approval; compulsory divestment removed.
The Press Note removes the prior compulsory divestment requirement for foreign equity in actual trading and marketing of petroleum products, and permits foreign investment up to 49% in petroleum refining by Public Sector Undertakings subject to prior approval of the FIPB, without dilution of existing domestic PSU equity; it also reaffirms automatic-route FDI permissions for private-sector exploration, marketing, pipelines and refining.