Import control of un shredded metallic waste and scrap: procedural conditions for sea port clearance under revised trade policy.
The Director General of Foreign Trade amends Public Notice No.38/ (2015-2020) by inserting a new paragraph (v) in Para 2.54 of the Handbook of Procedures (2015-2020) to set out conditions governing clearance of imports of un-shredded Metallic Waste and Scrap by sea ports, and replaces the wording HMS I and HMS II with un-shredded Metallic Waste and Scrap.

Tax exemption for land acquisition compensation extends to awards under RFCTLARR Act, ensuring non-taxability under income-tax law.
The tax authority clarifies that compensation exempted from levy of income-tax under the RFCTLARR Act shall also not be taxable under the Income-tax Act, 1961, even where the Income-tax Act contains no separate or specific exemption for that compensation, thereby addressing uncertainty on taxability of awards or agreements for compulsory acquisition of both agricultural and non-agricultural land.

Disclosure formats for listed insurance companies require regulator-prescribed quarterly reporting and continued newspaper-format compliance under listing rules.
Insurers listed on stock exchanges must submit quarterly financial results and segment-wise reports in formats prescribed by the insurance regulator for specified quarters; newspaper publication formats remain governed by SEBI-prescribed formats with possible additional regulator-prescribed disclosures; other requirements of earlier SEBI circulars continue to apply.

Rebate of State levies on garment exports: opt in EDI claims, FOB based calculation, payment subject to textiles budget.
ROSL establishes an opt in, item level rebate administered by CBEC alongside Duty Drawback for garments (Chapters 61/62) from specified export dates, with average rebate rates and per unit caps under two schedules. Exporters must declare eligibility, not claim other refunds, and select an EDI scheme code to claim. Rebate is calculated on FOB value, paid subject to Ministry of Textiles budget and EGM filing, and recovery follows Drawback processes with the Textile Commissioner empowered to recover wrongful payments as arrears of land revenue.

Refund of Additional Duty: AEO tiering mandates expedited claim processing timelines for accredited importers under the merged programme.
Refunds of 4% Additional Duty for qualifying importers are now administered under the merged three tier Authorised Economic Operator programme; the ACP pre audit waiver is discontinued and refund claims must be sanctioned within the expedited timeframes prescribed for AEO tiers, with other existing refund provisions remaining applicable.

Registration category requirement prompts jewellery manufacturers to amend registration so they can file the modified ER-8 return.
The modified ER-8 return is being implemented on the ACES portal with a ticker prompting jewellery manufacturers to amend registration to the Business Category Jewellery; divisional offices must prioritise processing of such amendment requests and physical verification is not required at original registration or amendment.

Rebate of State Levies on garment exports: optional scheme requiring exporter declaration and integration with duty drawback process.
Rebate of State levies on garment exports is an optional CBEC-administered scheme integrated with Duty Drawback: exporters must opt in via item-level claim/declaration on shipping bills, rebate is calculated on FOB value using schedule rates and per-unit caps (with special rates for duty-free imported fabric), and payments are processed in parallel with Drawback subject to Ministry of Textiles budgetary allocation. Overpayments, non-realised proceeds, and wrongful declarations follow Drawback-like recovery procedures with coordination between CBEC and the Textile Commissioner.

Financial disclosure requirements mandate comprehensive audited InvIT financials, projections, NDCF framework and detailed related party reporting.
Offer documents must present audited financial information for the last three completed financial years and any necessary interim period (or combined financial statements if InvIT history is insufficient), prepared under Ind AS and adjusted for prior period errors, accounting policy changes and auditor reported modifications. Required statements include balance sheet, profit and loss/income and expenditure, changes in unitholders' equity, cash flows, net assets at fair value, total returns at fair value, and specified notes; additional mandatory disclosures cover project wise cash flows, EPU, contingent liabilities, commitments, related party transactions, capitalisation, debt history, auditor reliance rules, NDCF framework, projections with auditor and manager certification, MDA, and combined statement principles.

Rupee Drawing Arrangement limit capped per transaction; authorised banks must ensure compliance under FEMA and regulatory guidance.
The circular caps permitted trade transactions under the Rupee Drawing Arrangement at fifteen lakh rupees per transaction, directs Authorised Dealer Category I banks to implement this ceiling while other related instructions remain unchanged, notes the amendment in the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 with an update to Master Direction No.2, and issues the directions under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.

Foreign investment in Other Financial Services allowed on full automatic route with regulator-specified conditions; government route for unregulated activities.
Full foreign equity participation in Other Financial Services is permitted under the automatic route when activities are regulated by a financial sector regulator, subject to regulator- or government-specified conditionalities including minimum capitalisation norms; statutory limits govern activities specifically regulated by an Act. Unregulated or partly regulated financial services require government approval for foreign investment, and downstream investments must comply with sectoral regulations and the Principal Regulations.

FVCI registration allows direct investment in startups and specified sectors without prior Reserve Bank approval.
Registered FVCIs may invest without RBI approval in equity, equity-linked or debt instruments of unlisted Indian companies in specified priority sectors, in qualifying startups, and in units of SEBI-registered Venture Capital Funds or Category I AIFs; downstream investments by recipient funds must comply with Schedule 11 downstream investment provisions.

Composite foreign investment cap clarified to aggregate direct and indirect investments, with compliance duties on the investee company.
The circular mandates that the composite limit/cap on foreign investment be calculated as the aggregate of all direct and indirect foreign investments, with equity resulting from debt conversion counted within the cap and certain debt-like instruments excluded. It defines Total foreign investment as the sum of direct and indirect investments, assigns the compliance obligation to the investee company, permits portfolio investment up to a prescribed threshold without government approval provided no change of ownership leading to control by non-residents occurs, and allows permitted foreign investment routes in LLPs, automatic-route sectors, NRI non repatriation investments deemed domestic, and share-swap arrangements subject to specified valuation and sectoral conditions.

Rebate of State Levies: designated Customs and Textile contacts set for processing claims and monthly reporting.
Customs field formations are directed to send communications on RoSL rebate implementation to the Textile Commissioner at Nishta Bhawan, New CGO Building, New Marine Lines, Mumbai and [email protected]; monthly lists of manually processed RoSL claims must be emailed by the Systems Directorate and any Customs location that processed claims manually to the Ministry of Textiles, Director (Export), Room No. 266, Udyog Bhawan, New Delhi at [email protected].

Inclusion of inland container depots as ports of registration enables exporters at those ICDs to access Chapter 4 benefits.
The Director General of Foreign Trade adds Kalinganagar and Tumb Village (Taluka Umbergaon, District Valsad) to the list of Inland Container Depots in paragraph 4.37(a) of the Handbook of Procedures (2015-2020) as Ports of Registration, enabling exporters using those ICDs to avail export promotion benefits under Chapter 4 of the Foreign Trade Policy; names will be alphabetised in the revised Handbook.

Foreign exchange receipts and payments: prescribed modes include ACU settlement, rupee and freely convertible currency for authorised dealers.
Authorised Dealer Category I banks must follow the Regulations prescribing permitted modes and currencies for foreign exchange receipts and payments: ACU settlement or freely convertible currency for ACU members with specific rules for Nepal, Bhutan, Myanmar and Iran; for other countries, receipt/payment in rupees from a foreign bank account or in any freely convertible currency; currency appropriate to shipment or destination for exports/imports as declared; and specified allowances for third party transactions, card receipts/payments, FCNR/NRE debits, Exchange House rupee receipts, and precious metal settlement where contracted.

Extension and conversion of external commercial borrowings allowed by authorised banks subject to lender consent and reporting.
Designated Authorised Dealer Category I banks are empowered to approve extensions of matured but unpaid External Commercial Borrowings and conversions of such borrowings into equity, provided there is no additional cost, lender consent is obtained, and reporting requirements are fulfilled; conversions must comply with existing conversion terms and, where the borrower has other banking credit, are subject to prudential restructuring guidelines and coordination or consent of other lenders.

Use of stock exchange infrastructure now permitted for RIAs to purchase and redeem mutual fund units for clients.
SEBI permits SEBI Registered Investment Advisors (RIAs) to use recognised stock exchange infrastructure to purchase and redeem mutual fund units directly from Mutual Funds/Asset Management Companies on behalf of their clients, including direct plans, while other provisions of the earlier circular for distributors remain unchanged and implementation follows existing exchange, clearing and depository protocols under the regulatory authority of Section 11(1).

Empanelment of Chartered Engineers for valuation of second hand machinery; advisory certificates and importer borne service charges.
Empanelment of Chartered Engineers is sought for valuation and examination of imported and second hand machinery within the Ahmedabad customs jurisdiction; applicants must be affiliated to the Institution of Engineers, show relevant specialization and submit supporting certificates. Selected engineers will be panelled for one year, submit annual self appraisals, and produce advisory valuation reports following prescribed circular instructions after verification of goods. Importers bear service charges. Incomplete or false applications risk cancellation and penal action, and a public list of empanelled engineers will be published.

Verification of Certificates of Origin: procedural checks and custodian led specimen comparison ensure preferential tariff claims are validated.
Verification of certificates of origin under Free/Preferential Trade Agreements requires production of a prescribed Certificate of Origin and permits verification where there is doubt about genuineness of format, signature or seal, doubt about accuracy of origin or where random checks are selected based on risk factors. Specimen seals and signatures are circulated to Chief Commissioners; an online ICES repository is being developed. Each Customs House must designate a JC/ADC as custodian of specimens for on site comparison, with escalation to CBEC Director (ICD) if specimens are unavailable. Other verification requests need Commissioner approval and supporting documents.

Cargo handling compliance mandates timely container evacuation and transparent charges to reduce dwell time in customs areas.
Port terminals, CFSs, shipping lines, transporters and other Customs Cargo Service Providers must comply with the Handling of Cargo in Customs Areas Regulations, 2009 by providing adequate infrastructure, equipment and manpower, publishing schedules of charges, making movement information available, and accepting Commissioner-specified facilities. To reduce dwell time, port terminals must ensure imported containers are removed within 24 hours of Entry Inward, issue advance arrival intimations, implement ICES gate modules, record gate-out time of vehicles, and report defaults for action under the Regulations.