Custody of bonds and bank guarantees reorganised: assessing groups process while BBG Cells safeguard originals and monitor compliance.
Exclusive BBG Cells will safekeep originals after Assessing Groups process and accept Bonds and Bank Guarantees; Assessing Groups retain duplicate copies, ensure monitoring and issue demand letters or reminders, and may enter bond/BG details and debits in ICES themselves or through BBG Cells; SVB bonds and guarantees are processed by the SVB Cell, and Assessing Groups must take over and monitor previously submitted bonds and guarantees from the centralized BBG Cell.

PAN-IEC linkage requirement: declare matching PAN in GSTIN to validate IEC for IGST credit and export refunds.
A matching PAN must be declared in GSTIN so GSTIN will validate IEC/PAN linkage; where PAN in GSTIN differs from PAN in IEC registration, exporters/importers must immediately amend the PAN in IEC records and may use the GSTN special drive provided for updating IEC in GSTIN.

Classification of eNodeB as switching and routing apparatus confirms tariff treatment under communications equipment heading.
eNodeB combines BTS/NodeB radio transceiver functions with BSC/RNC control and switching intelligence, enabling distributed radio architectures. Applying GIR 1 and 6, it falls within machines for reception, conversion and transmission or regeneration of data, including switching and routing apparatus, and should be classified under the tariff description for such communications equipment; pending assessments may be finalised accordingly.

Submission of Negative Statements for earlier shipping bills required; failure may prompt recovery action for drawback.
Submission of BRCs or Negative Statements for EDI shipping bills with LEO dates prior to 01.04.2013 is required in the prescribed six monthly format to the Nodal Officer so BRC/Negative Statement entries can be made in the EDI system. A published list of non compliant exporters must submit the documents by the stated deadline; failure to do so will lead to recovery action for drawback.

Masala bond issuance rules centralized with revised maturity, pricing ceiling, and investor eligibility for overseas rupee bonds.
Proposals for issuance of Rupee denominated bonds overseas will be examined at the Foreign Exchange Department, Central Office, Mumbai. Revised issuance parameters include differentiated minimum original maturity by issuance size, an all in cost ceiling set as a margin over the Government securities yield of corresponding maturity, and recognised investors limited to those permitted under the Master Direction who are not related parties within the meaning of Ind AS 24.

Correction of fiscal year reference: Circular No.1's year amended to the correct fiscal cycle for administrative clarity.
A departmental corrigendum amends the fiscal-year designation in an earlier circular, directing that the circular issued on 03.04.2017 be read as Circular No. 1 of 2017-18 instead of the previously cited prior year, to correct the record and ensure accurate application of the instruction.

Tariff classification clarified: dioctyl orthophthalate (ortho isomer) belongs to the specific ortho tariff heading, not the residual heading.
DEPH, the ortho isomer of dioctyl phthalate, is classifiable under tariff item 2917 32 00; Chapter Note 3 does not govern competing sub headings because sub heading Note 2 excludes it, and the specific HSN entry for the ortho variety takes precedence over the residual 2917.39 sub heading, which instead covers the meta and para isomers.

Blocking of auto-downloaded statutory forms triggers TIN suspension and document production procedures for suspicious dealer activity.
Controls on auto-downloading of statutory forms apply to dealers meeting risk indicators: High GTO with Nil/Negligible tax, missing dealer credentials, or non-filing of DP-I. For suspicious downloads, the procedure requires immediate blocking of the dealer's TIN, physical inspection, issuance of a notice to produce documents to substantiate transactions, and, if non-compliance persists, declaring the forms obsolete, serving a show-cause notice and cancelling registration with recovery actions for tax, interest, penalty and other amounts.

Exemption from sample drawal for AEO holders streamlines drawback grant, subject to exceptions on specific information or intelligence.
AEO Tier-I holders are exempted from routine drawal of physical samples for grant of export drawback, consistent with earlier exemptions for Tier-II and Tier-III AEOs, while retaining the exception that samples may be drawn when specific information or intelligence warrants verification.

Import and export manifests must be submitted; manual filing allowed at non-EDI locations, statutory penalties apply.
Section 30 requires the person-in-charge to submit an Import Manifest/Report electronically prior to arrival for vessels/aircraft and within 12 hours for vehicles, with penalties for failure; Sections 41 and 42(2)(b) require electronic submission of Export Manifest/Report before departure and bar departure without it. The Commissioner permits manual submission of Import and Export Manifest/Reports at non-EDI locations under the provisos to Sections 30 and 41. Car passes do not substitute for statutory manifest/report obligations. Prescribed forms are those under the Import Report (Form) Regulations, 1976 and Export Report (Form) Regulations, 1976.

Rotation Number Generation facility: shipping lines can self-generate rotation numbers online after ICEGATE registration and OTP authentication.
Introduces online self-generation of Rotation Number by Shipping Lines/Agents via ICEGATE: registered users with digital signature complete a web-form with vessel and voyage particulars and receive a system-generated Rotation Number after authentication and OTP; casual users have inquiry access; stakeholders must register with ICEGATE and contact designated Customs officials for difficulties.

Transmission of shares by operation of law permits companies to use transmission procedure instead of issuing duplicate securities.
Where shares are transferred to the IEPF by operation of law, companies may follow the transmission procedure used for transmission of shares instead of issuing duplicate share certificates; this aligns the corporate process with the legal nature of transfers to the IEPF under the applicable rules.

Export shipments may be zero rated; approved exporters may use self-sealing with electronic seals and GST-based refund procedures.
Supplies for export are zero rated, allowing exporters to export under bond or LUT without integrated tax and claim refund of unutilized input tax credit, or to export on payment of integrated tax and claim refund; refunds under each option follow prescribed electronic procedures via the GST Common Portal and Customs, with shipping bills and export manifests triggering processing. Container stuffing and sealing have been simplified: self-sealing at approved premises is permitted subject to GST registration, prior premise approval following inspection, use of tamper-proof electronic seals with declared unique numbers, prescribed transport documents, and continued risk-based Customs examination and verification of e-seal integrity.

GST Council finalises tax rates and procedural rules for GST rollout, IT readiness, anti-profiteering and e-way bills.
The GST Council confirmed and amended prior minutes, reviewed GSTN IT preparedness and timelines, approved amended Transition and Return Rules (including deemed ITC percentages, extended filing periods, auto-populated returns, summary HSN reporting and GST Practitioner transitional provisions), finalized GST rates and concessions for numerous goods (notably exemptions, differentiated rates for textiles, footwear, machinery, gold, bidi/tendu leaves, CSD concessions), endorsed a complaint-screening and investigation framework to implement Section 171 anti-profiteering rules, and directed notification of key CGST/IGST provisions including Section 10 for Composition levy effective 19 June while deferring an all-India e-Way Bill roll-out decision.

Acceptance of late charges authorised round-the-clock with restricted payment modes and mandatory handover and accounting procedures.
The JNCH control room will accept amendment fees and late charges beyond working hours, ordinarily by cheque, demand draft or pay order, with limited cash acceptance; the duty officer must record details in a prescribed register and hand over all documents and payments to the cash section before 12 AM of the next working day. The cash section shall account for receipts, deposit them to the government account on the day of receipt, and pursue immediate action where cheques are not realised.

Declaration of valid GSTIN required in customs declarations to enable IGST credit on imports and GST refund on exports.
Declaration of a valid GSTIN in customs BE/SB is mandatory to claim IGST credit on imports or GST refund on exports; the GSTIN will be validated for correct IEC/PAN linkage. Traders must ensure GSTIN records show the correct IEC and the same PAN used for IEC registration, and amend PAN in IEC where discrepancies exist. A GSTN update window has been provided to enable IEC updation in GSTIN.

Manual processing restrictions: manual bills of entry allowed only in exceptional cases, with system job numbers and e payment integration.
Manual filing of bills of entry/shipping bills is restricted to exceptional cases and must be authorised by designated senior officers and monitored by Commissioners. Noting Sections must enter manual BE details into ICES 1.5, assign a system Job No., link IGM/cargo details, and obtain Assistant/Deputy Commissioner concurrence; the system issues a running Bill of Entry number. Duty is to be paid via a system generated challan on the ICEGATE e payment portal with automatic receipt integration. Post clearance updates, preservation of manual BE copies, random cross verification and timely data transmission to integration partners are mandated.

Declaration of GSTIN mandatory in customs documents to enable IGST credit and GST refund eligibility.
Declaration of a valid GSTIN in customs documents is mandatory from GST commencement to enable IGST credit on imports and GST refund on exports; the GSTIN will be validated for correct IEC/PAN linkage, and where PAN discrepancies exist between GST registration and IEC, amendment of PAN in IEC must be undertaken, with a special GSTN updation window provided to facilitate corrections.

Online registration for mutual funds enabled; all registration applications must be filed via the SEBI Intermediary Portal with limited physical filings.
SEBI has mandated that all mutual fund registration applications be submitted and processed through the SEBI Intermediary Portal, which provides online application, processing, in-principle approval and final registration. Specified declarations and undertakings must still be submitted in physical form for records only, without affecting online processing. Assistance contact details for the portal are provided.

Legal Entity Identifier requirement mandates LEI for OTC derivatives participants, making LEI mandatory to continue market participation.
A mandatory Legal Entity Identifier has been introduced for all participants in OTC rupee interest rate, foreign currency and credit derivatives markets; failure to obtain an LEI by the regulator's phased deadlines will render entities ineligible to participate. LEIs must be obtained from GLEIF accredited Local Operating Units, with a recognised issuer available domestically. Entities must comply with application, documentation and renewal procedures; lapsed LEIs are invalid for Trade Repository reporting. The requirement is issued under the regulator's statutory authority and applies to both current and future participants.