Export Promotion Council listing updated to reflect EEPC India with revised contact and territorial office details.
Amendment to Appendix-2 revises Sl. No. 11 to list EEPC INDIA (formerly Engineering Export Promotion Council) with its registered/head office in Kolkata and territorial division in New Delhi, providing updated addresses, telephone, fax, email and website details under the power conferred by paragraph 2.4 of the Foreign Trade Policy 2004-09 to ensure accurate official listing.

Certificate of Origin Non-Preferential: new authorised issuing agent added in Gujarat, expanding recognised DGFT issuing centres.
Amendment adds EXIM CLUB, Association of Exporters & Importers, Vadodara, as an authorised issuing agency at Sr. No.11 (Gujarat) in Appendix 4C for Certificate of Origin Non-Preferential in the Handbook of Procedures Vol. I, under paragraph 2.4 of the Foreign Trade Policy 2004-09; the public notice provides the agency's contact details and states the amendment is issued in the public interest.

Dematerialisation requirement: securities may shift from trade-for-trade to rolling settlement when non-promoter holdings are dematerialised.
Shifting securities from Trade-for-Trade Settlement to Rolling Settlement is allowed once a company connected to both depositories demonstrates that at least 50% of other-than-promoter holdings are dematerialised via a certificate from its RTA or, if no RTA exists, from a practicing Company Secretary or Chartered Accountant; exchanges must also confirm absence of other grounds for continuation of TFTS and report the action in their development reports to the regulator.

Exit option for regional stock exchanges: conditions for asset retention, broker de registration and shareholder exit.
Guidelines permit de recognised or surrendering Regional Stock Exchanges to retain assets subject to conditions: transfer Investor Protection and Services Funds and the 1% security deposit to SEBI's Investor Education and Protection Fund (with refund conditions for the 1% deposit); transfer outstanding statutory dues to SEBI; brokers cease to be trading members with automatic SEBI registration cancellation and remain liable for registration fees payable until de recognition, recoverable by the exchange and transferrable to SEBI. Exchanges continuing as companies must drop 'stock exchange' from names; exclusive issuers must seek new listing or provide shareholder exit under delisting norms; exchanges must reserve funds to settle pending claims and liabilities.

Tariff classification of combined refrigerator-freezers with separate doors excludes them from preferential notification benefits thereby.
Combined refrigerator-freezers with separate external doors are classifiable under sub heading 8418 10 (household units under 8418 10 90) and not under 8418 21; accordingly they are not covered by Sl. No. 50 of Notification No.85/2004-Customs for preferential treatment. Field formations and importers should review past clearances and initiate recovery of any differential duty where concession was wrongly extended, and report implementation difficulties to the Board.

Special currency basket value revised, requiring authorised dealer banks to apply the updated rupee valuation under FEMA directives.
The rupee value of the special currency basket has been revised and fixed at the updated level effective from November 19, 2008; Authorised Dealer Category I banks must implement the revised valuation and notify their constituents. The circular states that the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to permissions under other laws.

ACU settlement options now permit transactions in ACU Dollar or ACU Euro, enabling correspondent accounts for cross border settlement.
Effective January 1, 2009, ACU participants may settle transactions in either ACU Dollar or ACU Euro, with each unit equivalent to one US Dollar and one Euro respectively. Authorised Dealer Category I banks may open and maintain ACU Dollar and ACU Euro accounts with correspondent banks in participating countries and are required to settle eligible payments through those accounts. Amendments to the relevant FEMA regulations and the ACU Memorandum of Procedure will be issued separately.

Duties of Range and Sector Officers clarified: supervisory roles, return scrutiny, export monitoring and recovery procedures mandated.
Consolidates operational duties and supervisory responsibilities of Range Officers and Sector Officers under the Central Excise Act, 1944: Sector Officers perform verification, data entry, preliminary scrutiny of returns, export monitoring and maintenance of registers, while Range Officers verify, certify, supervise, escalate discrepancies, initiate demand and recovery actions, and ensure compliance with statutes and departmental manuals; the list prescribes procedures, timelines, audit response, export controls and comprehensive record keeping, and is indicative subject to statutory provisions and supervisory directions.

Line of Credit to Madagascar secures India sourced exports with prescribed local content and FEMA compliance for remittances.
Exim Bank's USD 25 million Line of Credit to Madagascar finances two projects with exports eligible under India's Foreign Trade Policy; at least 85% of contract value must be supplied from India and up to 15% (excluding consultancy) may be procured abroad. The Credit Agreement is effective from December 4, 2008; LCs/disbursements must be opened within 48 months from project completion for project exports and within 72 months from execution for supply contracts. Shipments require GR/SDF declarations. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realization. AD Category I banks must inform exporters and implement these directions under FEMA.

Market linked focus products amended-exports to linked markets eligible for specified export incentives, subject to bicycle use proof.
Appendix 37D Table 10 is amended to specify revised product descriptions and tariff classifications for bicycle components and related fittings, and to add Algeria to the linked markets for Focus Product Codes 10.1-10.10. Exports of these products to the listed linked markets are eligible for the export incentive under Para 3.10.7 for shipments from 1 April 2008. A mandatory condition for Focus Product Codes 10.2-10.10 requires exporters to provide documentary proof that the products are for bicycle use only to the Registration Authority before claiming benefits.

Focus Products Scheme inclusion: Staples in Strips added and made eligible for scheme benefits from the specified export date.
Appendix 37D is amended to insert ITC(HS) Code 85052000 at Sl. No. 17 in Table 2 and to add "Staples in Strips" to the Description column; Staples in Strips (ITC(HS) Code 85052000) are made eligible for Focus Products Scheme benefits for exports made with effect from 1.4.2008 under Paragraph 2.4 of the Foreign Trade Policy 2004-09.

SFIS deadline clarified: current year applications due twelve months after the end of the application frequency period.
Amendment to the Handbook of Procedures revises SFIS submission deadlines: previous financial year SFIS has a specified last date, while current financial year SFIS is due twelve months from the end of the application frequency period, effected under powers in Paragraph 2.4 of the Foreign Trade Policy 2004-09 via Public Notice replacing the last two sentences of Para 3.23.10.

Assessable value: notional VAT price adjustments under remission schemes cannot be deducted when charging central excise duty.
The circular clarifies that for excise purposes transaction value equals the price actually paid or payable and only taxes actually paid or payable to government are deductible. VAT shown as a price adjustment under the remission scheme in invoices, which is not paid to the government, is not deductible when determining the assessable value for central excise duty.

Transitional arrangements for restricted imports remain applicable, allowing prior shipments to be processed under existing FTP provisions.
Transitional arrangements under the Foreign Trade Policy continue to apply to items restricted by the Notifications, permitting affected consignments to be processed under the existing transitional mechanism. Shipments made prior to the issuance of the restriction notifications may be allowed entry consistent with the Handbook provision permitting clearance of pre-notification shipments, and Licensing Authorities and Customs Commissioners should continue processing such cases accordingly.

Extension of filing deadlines for VAT reconciliation and declaration forms grants additional time to submit quarterly returns.
Extension of filing deadlines under rule 49A of the Delhi VAT Rules and corresponding Central Sales Tax provisions authorises additional time for submission of reconciliation returns in Form DVAT 51 for specified quarters and for furnishing the original portion of declaration forms C, EI, E II, F, I, J and H, issued by the Commissioner of Value Added Tax and circulated to departmental offices and stakeholders for implementation and publicity.

EPCG import rule permits tippers and dumpers for mining use only with registration and no public road use.
Import of trucks, tippers, dumpers and spares by mining establishments is allowed under the Export Promotion Capital Goods (EPCG) Scheme only if the equipment is registered in the authorization holder's name, installed and used for production within the declared mining area, not registered as public vehicles, not transferred (including within group companies), and not used on public roads; applications will be considered by Headquarters in consultation with the Department of Heavy Industry, while railway wagons and tractors are not permitted and non-mining sectors are excluded from this concession.

Pre-audit of refund claims to be conducted by Assistant/Deputy Commissioner (Audit) at commissionerate headquarters, followed by divisional order and commissioner review.
All refund applications at or above the prescribed threshold shall be pre-audited by the Assistant/Deputy Commissioner (Audit) in the Commissionerate Headquarters Office; thereafter the Assistant/Deputy Commissioner of the Group/Division will pass the order-in-original disposing of the claim, and the Commissioner concerned will review such orders-in-original. The Circular amends the relevant portion of Circular No. 24/2007-Cus and directs issuance of Public Notice and Standing Order for guidance.

SION amendment revises permitted import inputs for Shea Stearine, updating authorised input items and required quantities.
Amendment to the Standard Input Output Norms modifies the SION entry for Shea Stearine, updating the authorised import inputs to include a primary oil feedstock (either shea nuts with specified oil content or shea butter) and specified processing aids such as bleaching earth and acetone, as corrections to the Handbook of Procedures (Vol.2) effected by the Director General of Foreign Trade under the Foreign Trade Policy.

Charitable purpose test: commercial activities disqualify organizations from exemption when advancing objects of general public utility.
The proviso to section 2(15) excludes from charitable purpose any advancement of objects of general public utility that involves trade, commerce or business activities or rendering services related thereto for consideration; the proviso does not affect relief of the poor, education or medical relief, which remain charitable even if incidental commercial activities are undertaken, provided the business is incidental to the objectives and separate books of account are maintained.

Packaging declaration requirements: imported pre-packaged toys barred from clearance unless mandatory labeling is present, non-compliance triggers seizure.
Imports of pre-packaged toys must comply with the Standards of Weights and Measures (Packaged Commodities) Rules, 1977, especially Rule 6, requiring importer name and address, commodity name, net quantity, packing/importation month and year, and maximum retail sale price; DGFT Appendix-V items must meet Indian quality standards and exporter BIS registration. Customs shall not clear non-compliant packaged toys for home consumption and may confiscate such goods or allow re-export only, with penal action against the importer.