Amendment non-retroactivity: changed warehousing conditions do not apply to goods warehoused before amendment, per departmental clarification.
An amendment to the Customs Act altering the terms under which goods remain warehoused shall not apply to the goods warehoused prior to the amendment; earlier Board instructions based on a Law Ministry advisory are modified to this extent following acceptance of High Court interpretations that the reduced warehousing period is not retrospective.

Delivery Instruction Slip controls tightening to prevent unauthorized transfers; enhanced DP verification and issuance limits mandated.
Safeguards require controls on Delivery Instruction Slips (DIS) and depositor-depository procedures to prevent unauthorized transfers from Beneficial Owner accounts. DPs must not accept pre-signed or blank DIS, must limit booklet and loose DIS issuance, cancel slips when loss is reported, and issue new booklets only after substantial use or validated loss. DPs must verify signatures, record verification details on instruction slips, and cross-check with BOs for transfers that move all ISIN balances from inactive accounts or multiple ISINs from active accounts. Depositories must amend rules, notify DPs, monitor compliance and report implementation.

Dematerialisation requirement enables shift from Trade-for-Trade to rolling settlement upon prescribed non promoter dematerialisation and certification.
Establishment of connectivity with both depositories permits shifting securities from the Trade for Trade Segment to rolling settlement provided prescribed levels of non promoter holdings are held in dematerialised form and certified by the Registrar and Transfer Agent or, if no separate RTA exists, by a practising Company Secretary or Chartered Accountant; shifting must not occur where other grounds justify continuation in Trade for Trade. Stock exchanges must report actions taken in the Monthly/Quarterly Development Report (Section II, item no. 13).

FII regulatory amendment notifies revised compliance and procedural framework for foreign institutional investors; circular attaches the notification.
Amendment to SEBI (Foreign Institutional Investors) Regulations communicates a regulatory change affecting foreign institutional investors and custodians, transmits the official gazette notification as an annexure, makes the amendment text available on the regulator's website, and directs recipients to take necessary action under the revised regulatory framework.

Security deposit under Customs Act may be dispensed; officers must ensure statutory departure conditions and recover dues.
The Board directs discontinuance of the routine collection of small security deposits from foreign and coastal vessels as a trade facilitation measure, relying instead on recovery of duty, charges and penalties through existing statutory recovery and attachment mechanisms; proper officers must still ensure compliance with Section 42 conditions before permitting a conveyance to depart.

Abolition of produce cess laws ends export cess requirement for covered commodities; exporters exempt from paying cess.
The Produce Cess Laws (Abolition) Act repeals the Agricultural Produce Cess Act, 1940 and the Produce Cess Act, 1966 subject to specified savings; exporters need not pay cess on exports of commodities formerly covered by those Acts and trade stakeholders are directed to note the repeal and resulting exemption.

Electronic transmission of DEPBs removes port verification requirement, with online validation and DEPB number required on bill of entry.
Electronic transmission of shipping bills and DEPBs exempts such DEPBs from Customs verification at EDI ports; DEPBs received online will be subject to prescribed electronic validation and made available on the portal. Temporarily, importers must present hard copies to the designated officer until procedures stabilise. For online DEPBs the DEPB number must be quoted on the bill of entry for duty payment. Commissioners shall implement the instructions from a specified date in consultation with the Directorate General of Systems; the prior procedure remains for DEPBs issued before that date and for manually received DEPBs at non-EDI stations.

Customs duty exemption limited: ad-hoc relief only for narrow security, defence, or disaster imports; budgetary provision required.
Ad-hoc customs duty exemptions are limited to narrowly defined cases: secret or strategic government imports; defence and defence R&D imports; and, only in exceptional unforeseeable security situations, police and para-military equipment when no budget provision for duty could be made. Customs duty is not dispensable; routine functional imports and project-related imports by governments, autonomous bodies, municipalities, or public undertakings must be funded through their budgets. Relief and rehabilitation imports in unforeseen disasters are an exception and will be considered on merits. Ministries are directed not to forward inappropriate exemption requests.

Standard Input Output Norms updated to amend import item descriptions, units of measure and input norms for specified products.
Amendments to the Handbook of Procedures (Vol.2) modify specific Standard Input Output Norms (SION) entries by adding import items, correcting import-item descriptions (e.g., to "Acetic Acid Glacial/Acetic Acid"), correcting a chemical name to "Parabenzoquinone", changing Chlorine units from kg to MT, and revising input norms for Aluminium Metallized BOPP Film to specify permitted alternative inputs and quantities.

Execution and attestation of bonds: ensure proper signing and independent witnessing to validate bond obligations.
Execution requires signing, sealing and delivery as the formal completion of a deed; attestation means a witness signs after seeing the executant execute or after receiving personal acknowledgment. A party to the instrument cannot serve as attesting witness. Administrative requirement: bonds and guarantees must be properly signed and attested, with executants and witnesses being distinct persons to prevent disputes over surety liability.

Testing requirement for stainless steel exports: exporters must provide sample test reports to obtain nickel-content dependent drawback.
Exporters claiming drawback under sub. sl. No. 732301 for stainless steel household articles must submit analytical test reports at assessment or examination because drawback varies with nickel content; proof of submission for factory-drawn samples must be shown to staff, and exporters must cooperate with sample drawal in dock stuffing. Assessing and export-shed staff will require test reports and issue proper examination orders; drawback benefit will not be allowed without constituent analysis.

Relief bond repayment procedures require investor notice, no post maturity interest, strict payment and reporting controls.
Designated agency branches must notify holders in advance of individual bond maturities, ensure compliance with the investor investment limit and recovery of interest on excess investments, and inform investors that post maturity interest does not accrue. Discharge may be effected by COH or a prescribed stamped receipt, with PAN/Form 60 required where repayments exceed the threshold. Payments must be made by the branch maintaining the BLA, recorded and authenticated in the BLA, with principal and interest accounted separately. Monthly reporting to the Controller of Accounts and PDO is required; reimbursement claims to CAS Nagpur must be electronic, digitally signed, auditor certified, and reconciled with submitted details.

Rebooking of cancelled forward contracts: FIIs may rebook a capped portion tied to portfolio market value with mandated reporting.
AD Category I banks may allow FIIs to cancel and rebook forward contracts up to a limit of 2 per cent of the market value of their entire investment in India, with eligibility based on portfolio market value at the beginning of the financial year. Outstanding and rebooked contracts must be supported by underlying exposure; total forward cover must not exceed portfolio market value. Banks must monitor forward cover fortnightly and report using a revised format; other Schedule II instructions remain unchanged.

Focus Product Scheme expands to include value added coir products, making listed coir items eligible for scheme benefits.
Amendment to Appendix 37D of the Handbook of Procedures (Vol. I) adds a category of value added coir products to the list of items qualifying for benefits under the Focus Product Scheme. The public notice lists specific ITC (HS) codes and item descriptions-covering coir bristle and mattress fibre, curled/machine twisted fibre, processed coir pith in value added forms, mechanically/manual produced fibre, coir yarn, woven geotextiles of coir, coir cordage and ropes, and other coir products-thereby incorporating these items into the Appendix for scheme eligibility.

Preferential white sugar quota allocation for EU from free sale portions under Foreign Trade Policy takes immediate effect.
Using powers under Paragraphs 2.1, 2.4 and 2.29 of the Foreign Trade Policy, 2004-2009, the Directorate General of Foreign Trade allocates specified quantities of white sugar from the free sale portions of the 2005-06 and 2006-07 seasons for export to the EU as a preferential white sugar quota for 2006-07, amending Paragraph 1 of Public Notice No.57(RE-2006)/2004-2009 with immediate effect.

Line of Credit for export projects requires predominant Indian content, GR/SDF reporting, and prohibits bank-paid agency commissions.
Export Import Bank of India has extended a Line of Credit to the Government of Mozambique to finance export of Indian goods and services for electrification projects; eligible supplies must be at least 85 per cent Indian-origin and shipments are to be declared on GR/SDF forms. The Credit Agreement fixes utilisation periods and disallows agency commission under the LOC, though exporters may use own funds or EEFC balances for commission after full realisation. AD Category I banks must notify exporters and obtain full LOC details from Exim Bank. The directions are issued under sections 10(4) and 11(1) of FEMA.

Abeyance of a trade notice suspends the earlier trade guidance immediately pending further administrative directions.
Trade Notice No. 2/am07 dated 2 February 2007 is placed under abeyance with immediate effect by Trade Notice No. 03/am07 dated 7 February 2007, suspending the earlier notice pending further directions; issued by the Zonal Joint Director General of Foreign Trade as an administrative communication to trade and industry.

Export credit line permits Exim Bank to fund exports to PTA member countries with specified terminal dates and commission limits.
Exim Bank provides a foreign currency Line of Credit to PTA Bank to finance exports from India to PTA member countries for goods and services eligible under the Foreign Trade Policy; the agreement is effective from 28 December 2006 with a 36 month terminal date for opening Letters of Credit and 42 month terminal date for disbursements. Shipments under the LOC must be declared on GR/SDF forms. Agency commission is generally not payable, but RBI may allow up to 5% for exports requiring after sales service (paid in PTA countries by invoice deduction), with the reimbursable amount to the negotiating bank specified as 90% of the f.o.b./c&f/c.i.f. value minus the commission. AD Category I banks must inform exporters and may permit commission remittances under prevailing rules; the directions are issued under FEMA.

CENVAT credit prohibition requires exporters under DFIA to submit a joint declaration confirming non availment, otherwise penalties apply.
Exports under DFIA are subject to a prohibition on availing CENVAT credit for inputs used in exported products. Exporters applying for DFIA must furnish a declaration that neither they nor their supporting manufacturer(s) has availed CENVAT credit or equivalent excise facilities for those inputs, accept penal liability for false declarations, and, where supporting manufacturers are used, provide a joint signature by the exporter and supporting manufacturer(s).

Exemption scope for cannulas clarified: IV cannulas used in peripheral vessels are not covered by the notification exemption.
The notification exempts cannulae described for aorta, vena cavae and intra-corporal spaces, but IV cannulas-being short, small-lumen devices for peripheral veins and arteries-are materially different in construction and intended use and thus are not covered by that description. Expert medical advice highlights anatomical and physiological differences between great vessels and peripheral vessels, and notes that occasional emergency or off-label use of IV cannulas in larger vessels or cavities does not justify classifying them as cannulae for aorta, vena cavae or intra-corporal spaces; therefore the exemption is not available to IV cannulas.