Bonded container re-export requires timely extensions, prescribed particulars and valid reasons; off-hiring cannot justify delayed re-export.
Bonded imported containers exempt from customs and additional duty must be re-exported within six months, subject to a bond. A recorded-reason extension may generally be granted for three months, with further extensions available only for genuine difficulty and at specified approval levels; off-hiring is not a valid ground. Requests for movement permission and re-export extensions must contain prescribed container, vessel, bond, manifest and location particulars. Failure to obtain a valid extension may lead to duty, interest, bond enforcement and penal action.

Account opening documentation preference: clients choose electronic or physical delivery; brokers must provide and log documents accordingly.
Stock brokers and depository participants must provide specified standard documents in the account opening kit in electronic or physical form per the client's preference recorded in the account opening form; electronic delivery must be logged. Exchanges and depositories must keep these documents on their websites and inform clients. Exchanges and depositories must notify participants, amend rules for uniform implementation, and monitor compliance through half-yearly audits and inspections.

Assessment notice formats revised under section 143(2): three standardized templates and email-based communication option introduced.
CBDT has mandated three standardized templates for notices under section 143(2)-Limited Scrutiny, Complete Scrutiny and Manual Scrutiny-each providing an opportunity to produce evidence or submit communications, reserving issuance of specific questionnaires for adverse views. The circular directs use of these revised formats, updates to the ITD module, and offers an opt-in email-based assessment procedure using the return's email with option to nominate an alternate or opt out.

Know Your Customer requirements mandate KYC documentation for shipping lines and freight forwarders including ID, address, IEC, and authorisations.
Know Your Customer norms require shipping lines, container lines, agents/sub-agents and freight forwarders to collect photo identity, address proof, IEC copies, and letters of authority from persons booking containers; freight forwarders must additionally supply registration, employee letters of authority where applicable, and a declaration confirming collection of mandated documents. Compliance for recurring, unchanged transactions remains valid for a subsequent period. The same requirements apply mutatis mutandis to imports.

Extension of TRQ application deadline for maize gives state trading enterprises additional time to submit import quota applications.
Extension of the time limit for submitting completed ANF-2M applications for allocation of the Tariff Rate Quota on maize is granted under paragraph 2.04 of the Foreign Trade Policy (2015-20), relaxing Para 2.62(I) of the Handbook of Procedure and directing State Trading Enterprises to file ANF-2M applications with prescribed documents and fees to the DGFT by the revised deadline under the allocation framework of Para 2.60.

Purchase limit in Indian currency increased, allowing passengers to buy duty-free goods in rupees; DFSs must display INR prices.
Passengers may purchase goods at duty free shops in Indian currency up to the revised limit aligned with RBI rules; customs commissioners must inform DFS operators, ensure display of the facility and limit at shops and websites, and require display of prices in Indian Rupees and the applicable exchange rate (commercial bank rate or CBEC fortnightly rate). Operators must be familiarized with procedures for duty free procurement of excisable goods and any implementation difficulties should be reported to the Board.

Input-Output Norms amendment updates SION for upgraded ilmenite exports, revising export/import descriptions and entitlement formula.
Amendment revises SION A 1875 by specifying the export product as Upgraded Beneficiated Ilmenite (Synthetic Rutile) with declared Titanium Dioxide concentration and by listing permitted import items with specified quantities. Entitlement to imported inputs is to be calculated using the declared TiO2 concentrations of export and import items, applying a 13.6% wastage uplift on actual net TiO2 content; export and import documentation must state the specific TiO2 percentages.

Site definition determines exemption eligibility for goods manufactured on premises specifically designated in the construction contract.
The term site for exemption under Notification No. 12/2012 applies where: the premises are specifically made available to the manufacturer by explicit contract/agreement for the construction work; the goods claimed (notably goods under Chapter 68 except specified subheadings) are manufactured at those premises; and such goods are exclusively used in the said construction work as per the contract. Distance between manufacture and use is not a permissible disqualifying criterion; eligibility is to be determined on the contractual and factual matrix.

Excise duty on branded garments where retailer brands, labels or repacks products with high retail prices.
Excise duty applies to readymade garments and made up textile articles that bear or are sold under a brand name and meet the notified retail price threshold. Affixing a brand, labeling, repacking or similar treatments to render products marketable constitute deemed manufacture and can trigger excise liability. A broad definition of "brand name" is provided. Exemptions exist for products below the retail price threshold and for retailers whose annual aggregate clearances fall below the prescribed turnover limit (subject to a prior year condition). Mere shop naming does not create brand liability; liability arises only where the retailer affixes the brand and retail price label. Enforcement visits to retail outlets require specific inputs and senior approval.

Foreign exchange risk management requires exposure-backed hedging, differentiated derivative access, treasury limits, and timely market reporting.
Authorised Dealers must classify foreign-exchange derivative users as retail or non-retail and offer products within applicable eligibility and product restrictions. Deliverable INR derivatives are available for hedging, subject to exposure-backed hedging: no duplicate hedge, and the contract's notional amount and tenor cannot exceed the underlying exposure. Exposure changes generally require hedge adjustment, while estimated exposures require periodic review. Eligible providers may offer INR NDDCs to residents for hedging and to non-residents without a purpose restriction. Retail users must receive mid-market or bid-and-ask pricing before dealing and in deal confirmation.

Constitution of counsel panel invites applications for senior and junior standing counsels to represent indirect tax matters.
Announcement constituting a regular panel of Senior and Junior Standing Counsels to handle indirect tax cases; applicants must meet eligibility, terms and fee schedule as per specified legal communications (Annexure I and Annexure II), submit Proforma A to the Additional Commissioner at the zonal Central Excise office, and download required annexures from the zonal website before the stated deadline.

Ind AS implementation: phased reporting formats and temporary filing relaxations to facilitate transition for listed entities.
Listed entities must adopt Schedule III formats for Balance Sheet and Statement of Profit and Loss for reporting after Ind AS applicability, except banking and insurance entities which follow regulator prescribed formats. Until Ind AS Rules apply, AS Rules govern. Minimum quarterly/annual segment disclosures must include segment revenue (including inter segment revenue), segment results, segment assets and segment liabilities, with unallocated items shown separately and aggregate inter segment revenue deducted from segment revenue.

E-payment of refund/rebate claims: direct bank-credit mechanism with authorization, UTR tracking, and PAO reconciliation required.
Introduction of an e-payment facility requires claimants to submit a one-time authorization for direct credit to the exporter's bank account; the refund sanctioning authority will forward consolidated statements and a cheque to the nominated bank, which will credit claimant accounts via NEFT/RTGS after applicable charges and retain authorization copies. Banks must generate UTRs for transfers, submit monthly UTR reports and periodic scrolls to the sanctioning authority and PAO, and the PAO must reconcile cheques with bank scrolls and report discrepancies for verification and compliance.

TDS exemption on interest paid by IFSC Banking Units confirmed; no tax deduction on qualifying non-resident deposits or borrowings.
IBUs established in IFSCs are treated as Offshore Banking Units; accordingly, tax need not be deducted at source on interest paid by such IBUs on deposits made on or after 1 April 2005 by non-residents or persons not ordinarily resident in India, and on borrowings from such persons made on or after that date, and such interest is excluded from total income under the corresponding exemption for interest paid by offshore banking units.

Container scanning compliance ensures selected import containers are scanned before exit, with penalties for terminal or custodian noncompliance.
Containers selected by the Customs RMS must be scanned at the Mobile Container Scanning Facility before leaving port or reaching CFS/ICD; terminals must mark EIRs with "Selected for scanning", inspectors must verify container and seal numbers, and after scanning endorse EIRs as "SCANNED CLEAN", "MIS MATCH; SEND TO DC/AC, Container Scanning Division" or note reasons for non scanning. Mis matches trigger scrutiny and may require 100% examination of related containers. Custodians and terminal operators face penalties under the Customs Act and Handling of Cargo in Customs Area Regulations for non compliance. Reporting and weekly statements of selections, scans and outcomes must be submitted to DC/AC(CSD).

Recovery of confirmed demands limited: no recovery during pending appellate stay; initiate only after sixty days if no higher stay.
Recovery of confirmed duty demands is restricted while stay applications are pending before Commissioner (Appeals) or CESTAT for matters prior to 06.08.2014; for matters from 06.08.2014 onward, Circular No. 984/08/2014-CX applies pursuant to statutory amendments. The Board rescinds Circular No. 967/1/2013-CX. Where CESTAT or High Court confirms demand and a stay is pending before a higher forum, recovery may be initiated only after sixty days from the confirming order if no higher stay is in effect.

Drawback eligibility: imported and re exported goods must be identical; stricter first check examination and documentation required.
The notice warns that drawback under section 74 is ineligible where imported and re exported goods are not the same, directs Deputy/Assistant Commissioners to conduct thorough first check examinations of re exported spares claiming drawback, requires spare part names and serial numbers to be recorded in the Bill of Entry at import, and mandates that shipping bill examination reports explicitly and separately address identity and use, avoiding vague phrases.

Inclusion of Inland Container Depots as Port of Registration enables access to export promotion benefits.
Two Inland Container Depots at Hosur (Tamil Nadu) and Nattakkam Village (Kottayam Taluk and District) are added as Ports of Registration under the Handbook of Procedures for the Foreign Trade Policy 2015-2020, thereby enabling exporters using these ICDs to avail export promotion benefits available to Ports of Registration.

Bunker fuel exemption: procedure requires undertakings, dated acknowledgments and quarterly utilization certificates, with recovery for non compliance.
Procedure for duty-free supply of IFO 180 CST and IFO 380 CST from OMC warehouses to Indian-flag container vessels under Sl. No. 65A of notification no. 12/2012-CE: existing export/warehouse procedures apply; Masters/agents and OMCs must submit one-time undertakings; dated receipt acknowledgments required for each supply; quarterly utilization certificates must be filed; non-receipt or misuse triggers recovery of duty, interest and penalty from the Master, with jurisdictional Commissioners empowered to resolve implementation difficulties.

Central Excise registration extension allows consolidated payment for prior months following commencement of excise liability.
Deadline for central excise registration by jewellers is extended to 31.07.2016; excise liability is effective from 1 March 2016. Assessees may pay duty for March, April and May along with June by the extended date. The circular references prior related communications, requests wide publicity, and asks that implementation difficulties be reported to the Board.