SMS status retrieval enables applicants to obtain application status via mobile message, reducing transaction time and cost.
Notification establishes an SMS status retrieval procedure via Hutchison Max Telecom (TM Orange) allowing applicants to obtain application status by sending a message with the DGFT prefix, first three characters of the applicant's name and the application key number to the designated short code; the office seeks to extend the service to other cellular providers and invites trade feedback to reduce transaction cost and time.

Rounding off of DEPB rates affirmed; nearest rounded figure must be used for export DEPB calculations.
Calculation of DEPB entitlement rates for exported pharmaceutical formulations permits rounding off of fractional rates under the Policy Circular methodology: fractions below 0.50 round down, fractions 0.50 round up. The practice is regarded as standard and revenue neutral. Verifying authorities must accept the resulting rounded rate and take the nearest rounded figure when determining DEPB credits for products under the formulations schedule.

Foreign investment in proprietorships and partnerships: repatriation limited for NRIs/PIOs and permitted only with prior approval; RBI may allow others.
NRIs and PIOs may invest in firms or proprietary concerns on a non-repatriation basis if funds are remitted inward or come from NRE/FCNR/NRO accounts with an Authorised Dealer and the enterprise is not engaged in agriculture, plantation or real estate. Repatriation benefits for investments in sole proprietorships or partnership firms require prior approval from the Secretariat for Industrial Assistance or the Reserve Bank. Persons resident outside India other than NRIs/PIOs are generally prohibited from such capital contributions unless the Reserve Bank grants permission on application and subject to conditions.

Foreign investment framework: rules on permissible routes, sectoral caps, instruments and reporting obligations under FEMA regulations.
The Circular summarises the FEMA 1999 and RBI Regulations (FEMA 20/2000-RB and amendments) governing foreign investments: prohibitions and restricted activities, the distinction between the Automatic Route and Government approval route, sectoral caps and conditions across industries, permitted investment instruments (equity, convertible instruments, ADR/GDR/FCCB, ESOPs), FII/NRI/Venture Capital investment rules, pricing and reporting requirements (including Form FC-GPR), transfer restrictions requiring prior approvals, and RBI and AD procedural obligations for receipt, utilisation and reporting of foreign investment proceeds.

Customs area designation allows loading of cement in barges for export to Bangladesh under regulatory compliance.
Designation of a portion of North Workshop Jetty, outside K.P. Dock, Kolkata, as a Customs Area under Section 8 of the Customs Act, 1962 permits loading of cement into barges for export to Bangladesh via riverine routes. The authorization covers the jetty and stack yard (320.951 sq. m.) with specified surroundings, and is strictly subject to compliance with the Customs Act and Public Notice No. 50/03.

Event Management service: tax applies to services managing events, not to sponsor self organized events like trade fairs.
Service tax attaches to the Event Management service when an external event manager is engaged to organise an event at the behest of a sponsor; the tax is on the management service itself, not on the event, and does not apply where the sponsor organises and manages the event without hiring an event manager.

No Objection Certificate waiver for re-export permitted; Commissioner may allow re-export on discretion after bona fide mistake verified.
Where goods were imported by bona fide mistake and contrary to the importer's instructions, the Commissioner may, in his discretion, permit re-export without requiring a No Objection Certificate, or may allow re-export on payment of a nominal penalty or without penalty, provided he is satisfied the import was a bona fide mistake.

Issue of shares against external commercial borrowings permitted for convertible foreign currency receipts, subject to tax liabilities and procedures.
Issue of equity shares is permitted against all External Commercial Borrowings received in convertible foreign currency, excluding instruments treated as deemed ECBs, provided that all applicable tax liabilities are met and prescribed procedures are complied with prior to issuance.

Prohibition on dual-marked measuring tapes: import banned; confiscation or re-export required unless metric exception applies.
Importation of measuring instruments that do not conform to metric units or that bear dual markings is prohibited under Sections 49, 4 and 23 of the Standards of Weights and Measures Act, 1976. The proviso to Section 49(2) applies only to markings on commodities, not to weights or measures imported as such. Customs formations are directed to ensure such non-standard instruments are, on import, either confiscated absolutely or allowed re-export only, except where Section 23 permits limited exceptions.

Customs area approval designates ICD Surajpur for export loading and import unloading, subject to customs law compliance.
Approval designates ICD Surajpur as a place for loading of export goods and unloading of imported goods under Section 8(a) of the Customs Act, 1962, subject to strict observance of the Customs Act, rules and directions of the Central Government and the Commissioner. The Commissioner specifies the Customs Area limits under Section 8(b), describing a 25.38 acre perimeter with boundary walls, fencing, entry and exit gates and adjoining roads and plots to support customs supervision and access control.

Inclusion of Dharmada: declared includible in assessable value under central excise; departments instructed to apply ruling.
Amount labelled as Dharmada charged and recovered from buyers is includible in the assessable value of goods for central excise valuation; the Department is directed to follow the higher court decision and issue a Trade Notice to inform trade.

Notice period reduction for book-closure/record dates: dematerialised scrips now subject to shorter notice than physical scrips.
SEBI has directed stock exchanges to reduce the advance notice for fixing the book-closure/record date, cutting the previous 30-day intimation requirement for dematerialised securities and 42-day requirement for physical securities to shorter calendar notice periods (reduced to 15 days for demat scrips and 21 days for physical scrips in the first phase), with immediate implementation, requisite listing agreement and bye-law amendments, dissemination to members, and publication for investor access under SEBI's powers under Section 11(1) read with Section 10 of the SCRA.

Reporting obligation for offshore derivative instruments may allow quarterly nil reports after undertaking; transactions still require fortnightly reporting.
FIIs without outstanding offshore derivative instruments may replace fortnightly 'Nil' reports with a quarterly 'Nil' report if they submit an undertaking to revert to fortnightly reporting upon issuance. Quarterly 'Nil' reports, containing the undertaking, must be filed within three working days after each quarter; FIIs with outstanding instruments or any issuance/renewal/cancellation/redemption must continue fortnightly reporting. Reports must follow the prescribed format and be emailed to the designated address. The instruction is issued under Regulation 20A and is effective immediately.

Proprietary trading disclosure required: brokers must inform clients of proprietary trading status upfront and before any change.
Brokers must disclose whether they undertake proprietary trading as well as client based business: inform existing clients within one month, provide upfront disclosure to new clients in the Know Your Client agreement, and notify clients before commencing proprietary trading if begun later. Stock exchanges must amend bye laws, notify members, publish the requirement, and report implementation to the regulator.

Portfolio management: require benchmark performance disclosure, board oversight, internal audit, and half yearly compliance reporting.
Portfolio managers must include benchmark index performance in client periodical reports under Regulation 21, selecting indices that match client objectives and recording any later changes. Boards must review portfolio performance against benchmarks and take corrective action. Boards must also receive quarterly compliance reports, monitor due diligence and investor grievance redressal, and place SEBI deficiency or warning letters before the Board. An internal audit by a practicing CA or CS must assess internal procedures and be submitted to the Board. Managers must exercise due diligence and submit half-yearly compliance reports to SEBI within thirty days for prescribed reporting dates.

Reconstitution of committees for tax arrears write-off mandates three-tier committees, monthly review and specified reporting procedures.
Reconstitution creates three-tier Committees-Zonal, Regional and Local-with specified permanent members and co-option of the presenting officer; Committees meet monthly to review write-off cases, report procedures require monthly brief reports (Zonal to Director of Income Tax (Recovery) and Board; Regional to cadre-controlling CCIT; Local to CCIT), temporary substitutions permitted for vacancies, and Chief Commissioner comments must accompany Zonal recommendations for cases exceeding prescribed monetary limits.

Professional equipment import rules: DFCEC permits only service necessary professional and office equipment; capital goods must use EPCG route.
DFCEC permits import of spares, office equipment, furniture, professional equipment and consumables to enhance service capability; only professional equipment required for rendering services and earning free foreign exchange is allowable under DFCEC. Import of other capital goods is not permitted under DFCEC and must be pursued through the EPCG route. A corrigendum replaces "capital goods" with "professional equipment" in the customs condition, and customs formations are to issue guidance to trade and field officers.

Tax deduction at source on salaries: prescribed rates, employer duties, perquisite valuation and TDS compliance for payroll.
Deduction of tax at source under Section 192 requires employers to estimate salary income for the year, compute tax at prescribed slab rates, deduct tax on average at each payment, and account for employer-paid tax on perquisites as deemed TDS. Employers must maintain records and furnish TDS certificates (Form No. 16 and Form No. 12BA where applicable), take employee declarations (Forms 10E, 10BA, 12C), apply standard and Chapter VIA deductions when estimating taxable salary, and follow detailed valuation rules for perquisites; non-compliance attracts interest, penalties and prosecution.

Project Office general permission allows foreign entities to set up project offices subject to funding, contractual, reporting and remittance conditions.
General permission allows foreign entities to set up Project Offices in India subject to conditions: a contract with an Indian company and specified funding sources (inward remittance, international finance agency funding, appropriate authority clearance, or term loan to the Indian contracting party). Foreign entities must report detailed project and office particulars to the Reserve Bank Regional Office. Project Offices may seek permission to open Foreign Currency Accounts with reasons and contract excerpts, and remittances of surplus on completion or winding up may be made through Authorised Dealers subject to regulatory conditions, with intermittent remittances requiring Reserve Bank approval.

Simplified Exit Scheme: companies formed after the amendment may avail it despite non-contribution to paid-up capital.
Companies incorporated after the Companies (Amendment) Act, 2000 that have not made the contributions to paid-up capital described in Section 3(1)(iii) and 3(1)(iv) are eligible to avail the Simplified Exit Scheme, provided they meet all other prescribed requirements.