Direct investment ceilings liberalisation in SAARC and Myanmar expands automatic route access for Indian investors under FEMA.
The Reserve Bank of India has liberalised Indian direct investment by raising the ceiling for investment in Myanmar and SAARC countries (excluding Pakistan) under the automatic route and increasing the rupee-denominated investment ceiling for Nepal and Bhutan; implementing amendments to the Foreign Exchange Management Regulations will be issued separately and authorised dealers must inform constituents, the directions being issued under the statutory FEMA framework.

Stevedoring charges excluded from assessable import value as they are covered by loading/unloading allowance under customs valuation rules.
Stevedoring charges, representing unloading onto land, must not be included separately in the assessable value of imports because they are covered by the standard loading/unloading and handling allowance under the customs valuation framework; field formations should finalise provisional assessments and report implementation difficulties to the Board.

Export-import linkage for white sugar requires prior import of raw sugar under specified sucrose purity range.
The SION for white sugar is amended to require import of raw sugar as the permitted input for export of white sugar, with raw sugar sucrose content measured by polarimeter required to fall within the prescribed range; export is permitted only after the corresponding import, and cases outside the specified range must be applied for under the procedural provision for exceptional cases.

Registration of intermediaries with AMFI required, with certification, conduct rules, empanelment controls and compliance reporting.
Registration of intermediaries with AMFI is mandated subject to passing a certification examination and adherence to prescribed guidelines and code of conduct; mutual funds must empanel intermediaries, follow regulator and AMFI parameters for commission payments, monitor compliance across business, and report compliance in board meetings and periodic filings. An exemption allows senior citizens with prior distribution experience to be registered and exempted from the examination subject to training and submission of a fund-endorsed certificate. The code of conduct forbids commission sharing with investors and inducements, with limited transitional honouring of prior incentives.

Logging of DEEC books: Customs to complete pending entries using triplicate shipping bill and bank realisation certificate.
Logging of DEEC books must be completed expeditiously by Customs based on the original triplicate copy of the DEEC shipping bill and the bank realisation certificate; where originals are unavailable Customs shall issue duplicate original triplicate shipping bills from available records, and exporter declarations or earlier test reports may be accepted when current test reports are missing.

Classification of metal oxide varistors as resistors under the customs tariff confirmed; not classed as surge arrester parts.
Metal oxide varistors imported for use in surge arresters are classifiable under the Customs Tariff heading for resistors rather than as parts of surge arresters; the Board, following the applicable section note and WCO advice under the General Interpretative Rules, clarified that surge arrester-specific headings do not apply to these varistors and invited reports of any difficulty in applying the guidance.

DEPB Rate Amendments update export entitlement rates and value caps for specified engineering products, affecting export benefit eligibility.
Amendment to the Schedule of DEPB Rates updates DEPB percentages and value caps for specified engineering exports, modifying entries for carbon steel pipes, machined/formed rings, cryogenic tanks, hi chrome castings, and lamp caps, and adds new entries with set DEPB rates and per unit or per weight caps for watch dials, steel cops/pirn/bobbins, and specified hermetically sealed compressors, thereby governing DEPB entitlement calculation for the listed products.

Companies Act schedule amendments circulated for implementation and acknowledgement by company registries.
Amendments to Schedule V and Schedule VI of the Companies Act, 1956 were notified by Gazette instruments and circulated by the Department of Company Affairs to Regional Directors and Registrars of Companies for information and necessary action, with a request for acknowledgement of receipt.

EPCG scheme import eligibility for service providers requires technical justification via Chartered Engineer Certificate to permit restricted item imports.
Service providers who require items such as carpets, crockery, marble and chandeliers may be granted imports under the EPCG Scheme; regional offices must follow Customs guidance when issuing licences. For items restricted under the Scheme, applicants must submit a Chartered Engineer Certificate in the prescribed annexed format certifying that the technical description, specification and quantities are correct and that the items are actually required for the EPCG application.

FOB value retained as primary basis for DEPB credit; market verification only on intelligence of over valuation.
FOB value shall generally be the basis for granting DEPB credit as recognised in export transactions. Market verification to determine Present Market Value (PMV) may be initiated only on specific intelligence or evidence of FOB inflation, sensitive destinations, or sub standard goods, and requires express written approval of the Commissioner of Customs. If investigation conclusively proves artificial inflation, DEPB entitlement will be calculated on PMV; verifications must not be routine and should be completed expeditiously to avoid trade harassment.

Evidence of import documentary acceptance extended to audited autonomous bodies; authorised dealers may accept auditor/CEO declaration.
Authorised dealers may accept either the Exchange Control copy of the Bill of Entry for home consumption or a certificate from the CEO or auditor confirming goods were imported for eligible importers; the facility, previously limited to listed companies meeting a net worth threshold and public sector entities, is extended to autonomous bodies and specified scientific/academic institutions whose accounts are audited by the statutory government auditor, provided a declaration from the auditor/CEO confirming such audit accompanies the documentary evidence.

Submission of soft copy of Cost Audit Reports must be on non rewritable media in prescribed two part formats to ensure uniformity.
Cost Auditors must submit the soft copy of Cost Audit Reports on a non rewritable CD ROM with two parts: Part I as a single file in PDF (Adobe Acrobat v4.0+) or Microsoft XLS format containing the full report and annexures, and Part II as an Excel worksheet reproducing Paras 4-28 of the Annexure in the prescribed format. The electronic submission must not disclose any identifying or location information of the unit or company. These format and anonymity requirements are effective immediately.

DEEC book logging: exporters urged to submit pending case lists for expedited customs action and DGFT coordination.
Delays in DEEC book logging have exposed exporters to DGFT penalties; exporters must submit lists of pending DEEC cases to the Joint Commissioner of Customs so Customs can expeditiously log the DEECs or communicate genuine reasons for further delay to DGFT.

Deduction of tax at source: revised undertaking and accountant certificate formats ensure correct withholding for remittances.
Remitters must furnish revised proforma undertakings accompanied by an accountant's certificate certifying the nature and amount of income, tax payable and tax paid; authorised dealers and the Reserve Bank shall obtain and forward these documents to the Assessing Officer. The new formats replace earlier proformas to ensure correct deduction of tax at source, require particulars and reasons for nil or lower withholding claims, and reiterate remitter liability for any shortfall with interest and penal consequences.

Foreign currency loans against FCNRB deposits restricted: prohibitions on relending, agricultural and real estate use apply.
Foreign currency loans in India granted against the security of FCNR(B) deposits to account holders are subject to the same prohibitions as rupee loans against NRE/FCNR deposits, including bans on relending, agricultural or plantation activities, and investment in the real estate business; authorised dealers must inform their constituents and the directions are issued under the Foreign Exchange Management Act, 1999.

Excise duty recovery required for DTA sales under excluded policy provision; differential customs-equivalent duty must be collected.
Clearances into DTA of goods manufactured from wholly indigenous raw materials under Exim Policy paragraph 6.8(f) are not covered by the central excise notification permitting exemption; such clearances are liable to excise duty recoverable as an amount equivalent to customs duties on similar imports, and jurisdictions are directed to examine DTA sales under paragraph 6.8(f), recover any differential duty, and report details to the Board.

Export warehousing to Nepal: exporters may clear goods on payment of duty without interest when transactions are in Indian rupees.
Exports to Nepal from export warehouses may be allowed on payment of duty without interest when transactions are in Indian rupees and duty rebate is given to Nepal. Merchant exporters may clear goods directly from job-worker premises to export warehouses on the basis of the exporter's certificate, subject to procedural conditions prescribed by the Commissioner.

Foreign exchange remittance permissions expanded for miscellaneous current account transactions, allowing authorised dealers to permit specified cross border payments.
The Reserve Bank permits remittance of foreign exchange for specified miscellaneous current account purposes and directs authorised dealers to implement Annexure provisions superseding parts of the Exchange Control Manual. Authorised dealers may allow remittances without prior Reserve Bank approval for items such as travel passes, overseas hotel reservations, prepaid telephone card sale proceeds, overseas TV subscriptions and eligible advertisement charges, subject to conditions on commission, travellers' entitlements and beneficiary residence, and may facilitate foreign currency payments between export units and for centrally authorised project bids.

Resident Foreign Currency Account allows residents to hold non interest foreign currency balances for permitted current and capital transactions.
A Resident Foreign Currency (Domestic) Account may be opened, held and maintained with an Authorised Dealer in India from foreign exchange acquired as currency notes, bank notes and travellers cheques, including unspent travel foreign exchange, honoraria, gifts and payments from non residents visiting India. Debits are permitted for current account transactions under the Current Account Transactions Rules and for permissible capital account transactions; the account must be a non interest bearing Current Account and there is no ceiling on balances.

ADR/GDR/FCCB proceeds may be used to fund divestment subject to repatriation, approvals, and sectoral FDI limits.
Sponsored issues of ADRs/GDRs/FCCBs against existing shares are permitted for divestment, subject to compliance with depository receipt scheme rules and government guidelines; companies must offer the facility pari-passu, secure a special resolution, repatriate proceeds within one month, limit escrow retention to three months, treat tranches as separate transactions, furnish full particulars to the Exchange Control Department within 30 days, and obtain required approvals including FIPB clearance where foreign equity induction occurs.