Risk Management System for exports to automate Shipping Bill selection, LEO facilitation, assessment and post clearance audit processes.
A Risk Management System (RMS) for exports will process Shipping Bills in the Indian Customs EDI System to determine whether bills receive a Let Export Order (LEO) or are selected for verification of self-assessment, examination or assessment by the Export Appraising Section. RMS outputs and associated appraisal/examination instructions are to be followed by officers. The RMS incorporates Compulsory Compliance Requirements (CCRs) from allied Acts, requires exporters/CHAs to submit prescribed documents at goods registration, and will be extended to include Post Clearance Audit (PCA) in a subsequent phase.

Risk Management System enabling automated clearance of compliant self assessed import consignments with targeted assessment and PCA.
Implementation of a Risk Management System (RMS) at ICD Borkhedi will enable system processing of electronic Bills of Entry and IGMs via ICES/ICEGATE to permit Out of Charge for compliant, self assessed consignments without officer assessment or examination, while routing selected B/Es for appraisal, examination or Post Clearance Audit based on risk criteria, random selection or intelligence. The RMS integrates facilitation for Authorized Economic Operator importers, provides system driven duty/challan and bond debits, prints Compulsory Compliance Requirements and allied act documentation lists on B/Es, and replaces concurrent audit with Post Clearance Audit.

Fair and transparent market data access mandated, requiring monitoring, load management and clear disclosures to all market participants.
Exchanges must adopt a comprehensive policy ensuring fair and transparent market data dissemination, deploy monitoring tools to measure service quality, and implement mechanisms like load balancers and randomizers to maintain consistent response times for all participants; communications must clearly disclose technology features and risks, especially for colocation users. Exchanges must ensure synchronization of system clocks across servers and related systems using suitable mechanisms, amend governing rules as needed, notify brokers and publish the provisions, and report implementation status to the regulator under its investor-protection and market-regulation powers.

Commodity derivatives eligibility criteria require template based suitability assessment and a turnover based retention regime before reintroduction.
A structured eligibility framework requires exchanges to assess commodity derivative proposals using a weighted template covering Commodity Fundamentals, Trade Factors, Ease of Doing Business and Risk Management. Exchanges must apply the template to new and existing contracts, submit analyses to the regulator, and adopt numerical weightages for product design. Retention and re introduction rules impose a minimum annual turnover criterion with a three year gestation period and a mandatory moratorium before reconsideration or re launch following ineligibility or suspension.

All Industry Rate of Duty Drawback updated, altering drawback calculation and conditions for exporters and customs compliance.
Circular No. 02/2017 Customs (dated 13 01 2017) amends the All Industry Rate of Duty Drawback and revises Notes and Conditions No. 3(ii) of AIR Notification No. 131/2016 Cus (N.T.), with those changes effective from 15 01 2017; the Principal Commissioner of Customs, Visakhapatnam, has issued the circular to customs officers, importers, exporters and brokers and enclosed Notification No. 03/2017 Customs for guidance, requesting that implementation difficulties be reported to the customs office.

Indirect transfer provisions kept in abeyance pending resolution of multiple taxation concerns raised by stakeholders.
Circular No.41/2016 on Indirect Transfer Provisions was met with representations from FPIs, FIIs, VCFs and other stakeholders alleging potential multiple taxation of the same income; those representations are under consideration and, pending a decision, operation of the Circular has been kept in abeyance.

Equalisation levy on specified digital services introduced as a final withholding to tax nonresident suppliers.
The Finance Act, 2016 revises direct tax rates and withholding rules; phases in POEM residence with a transition chapter for first time resident foreign companies; implements BEPS style master file and Country by Country reporting with penalties; introduces sectoral tax measures including exemptions for strategic oil storage, DDT exemption for SPV distributions to business trusts, a new securitisation trust regime, start up and patent incentives, and phased out investment deductions; creates an exit tax for charities converting to non charitable entities; tightens penalty and compliance frameworks including electronic data processing; and establishes the Direct Tax Dispute Resolution Scheme and an Equalisation Levy on specified digital services.

Bhavnagar Port launch: ICES 1.5 enables electronic filing and automated customs processing for imports and exports.
ICES 1.5 at Bhavnagar Port mandates electronic filing and processing of Bills of Entry and Shipping Bills, with pre registration of IE Codes, Customs Brokers, shipping agents and DGFT licenses in ICES/ICEGATE. Self assessment is completed when a BE/SB number is generated; ICES validates directories, converts currency, computes duty and assigns cases to Appraising Groups. The system workflow covers first/second check examinations, query handling, concurrent audit, RMS triage, payments via TR 6/e payment, and centralized Bond and license ledgering for exemptions and debits. Digital signatures, service centre and remote filing procedures and service charges are prescribed.

GST migration requires provisional ID from GSTN via ACES, completion on GSTN portal, ARN issuance and provisional certificate.
GSTN will generate provisional IDs for assessees with a valid PAN and send them to CBEC; CBEC will publish the provisional ID and password on the ACES portal. Assessees must use these credentials to log into the GSTN portal, complete details, upload documents, receive an ARN, and on the GST roll out date be migrated and issued a Provisional Certificate. Registrations without a valid PAN must update PAN on ACES before migration; certain fields will be non editable and submitted data will be verified by tax authorities.

Annual return requirement suspended pending GST implementation; annual returns for non-GST goods may be required thereafter.
Central Board amendments replaced Central Excise Forms ER-4 to ER-7 with a consolidated Annual Return under Central Excise, CENVAT Credit and Service Tax rules, originally requiring filing by 30 November; a Board circular deferred filing for the specified year due to impending GST implementation and stated that post-GST an annual return may be required for non-GST goods. Trade associations are asked to publicize the change and report implementation difficulties to local offices.

Provisional registration for existing excise/service taxpayers will be issued on PAN and communicated for migration to GSTN.
Existing Central Excise and Service Tax registrants with a valid PAN will receive provisional registration under GST; GSTN will generate provisional IDs and passwords and communicate them securely via the ACES portal. The Directorate General of Systems has arranged secure transmission, and the Commissionerate has nominated nodal officers to assist taxpayers; trade is requested to utilise these services for migration to GSTN.

Change of Advance Rulings office address notified; trade associations must publicize relocation and inform constituents.
Notification reiterates relocation of the Authority of Advance Rulings for Central Excise, Customs & Service Tax to a new office address, referencing the earlier Public Notice. Trade associations, chambers of commerce and members of the Regional Advisory Committee are directed to widely publicize the new address among their constituents so that applications, communications and enquiries reach the relocated Authority; departmental file reference for the communication is noted.

Migration of Central Excise and Service Tax assessees to GST regime: provisional registration for PAN holders with guidance support.
Every Central Excise and Service Tax assessee with a valid PAN will be granted provisional GST registration under the draft CGST Act and draft GST Registration Rules; assessees are to use prescribed stepwise guidance on the government GST migration web pages and may contact nominated nodal officers listed in the annexure for assistance and clarifications.

Mandatory certification: Energy efficient three-phase squirrel cage induction motors must conform to the Indian standard and bear Standard Mark.
The Order requires Energy Efficient Induction Motors - Three Phase Squirrel Cage to conform to the specified Indian standard (IS 12615:2011) and to bear the Bureau of Indian Standards Standard Mark. Manufacturers must obtain a BIS licence before regular production; nonconforming motors are prohibited, with limited export exemptions. Appropriate authorities may inspect, seize, require samples and information, and testing must occur in Bureau-recognised laboratories. Substandard motors must be destroyed and disposal completed within three months. Refusal to comply with information requests or concealment of records is punishable by imprisonment or fine.

Declaration of undisclosed income allowed for cash and specified-deposit accounts under scheme, subject to exclusions and procedural conditions.
The circular explains that the Scheme permits declaration of undisclosed income only when represented as cash or deposits with specified entities (including banks and post offices), excluding assets and foreign bank deposits; declarations are available despite assessment notices or search/survey actions, no credit for advance tax, TDS or TCS is allowed, seized cash may be adjusted towards tax, surcharge and penalty (but not for the mandatory deposit), deposits by any transfer mode and certain returned advances are eligible.

Central Excise/Service Tax taxpayers must obtain provisional ACES IDs, complete GSTN registration and secure an ARN for migration.
Taxpayers must obtain a provisional ID and password via the ACES portal, use these credentials to log into the GSTN portal, verify pre-filled non-editable details (including legal business name and PAN), upload supporting documents, submit GST REG-20, and receive an ARN and provisional certificate enabling migration to GST on the rollout date; taxpayers lacking a valid PAN must obtain and update it on ACES before migration.

Single Window Interface for Facilitation of Trade extended to exports, streamlining export clearances under a central circular.
Extension of the Single Window Interface for Facilitation of Trade (SWIFT) to export transactions is announced and Circular No. 01/2017 (Customs) dated 04.01.2017 is enclosed for guidance; importers, clearing agents and the trading public are directed to consult the circular, available on the central customs website, for procedural instructions to align export clearances with the SWIFT platform.

All Industry Duty Drawback amendments notified, altering drawback rates and providing guidance to importers and clearing agents.
Amendments to the All Industry Rates of Duty Drawback effective 15 January 2017 were notified by Circular No. 02/2017; the circular adjusts the schedule of duty drawback rates and is issued for the guidance of importers, clearing agents and the trading public and published on the Board's website for operative details and implementation guidance.

Tariff value fixation governs import valuation for listed commodities; importers must apply notified customs values and guidance.
Fixation of tariff values has been notified for specified imported commodities including edible oils, brass scrap, poppy seeds, areca nut, gold and silver; the notification fixes the tariff value applicable for customs valuation. The public notice transmits Ministry of Finance Notification No. 04/2017-Customs (N.T) dated 13.01.2017 for guidance and directs importers and agents to consult the official CBEC website for operative values and compliance instructions.

AIR of duty drawback amendment notified; guidance issued to importers and clearing agents on procedural requirements.
Amendment to the procedure for AIR of duty drawback has been notified by the Department of Revenue through Notification No. 03/2017 Customs (N.T.), modifying Notification No. 131/2016 Customs (N.T.) and changing the administrative requirements for advance information reporting and duty drawback procedures; the notice is circulated for guidance to importers, clearing agents and the trading public and the full text is available on the department's website.