Deposit requirements for debt-segment members require specified deposits for clearing members and limited exemptions for existing or gross-only clearers.
Deposit obligations for the dedicated debt segment require Stock Broker/Proprietary Trading Members to comply with the Base Minimum Capital requirement; Clearing Members and Self Clearing Members must deposit ` 10 lacs with no exposure to be granted against that deposit. Exemptions apply where the entity is already a CM/SCM or stock broker in another segment, or where a CM/SCM clears and settles only on a gross basis with no settlement guarantee. Stock Exchanges and Clearing Corporations must amend rules and implement systems within one month and report implementation to SEBI.

Periodic Call Auction rationalization narrows illiquidity criteria, mandates minimum auction sessions and allows order carryover.
Rationalization tightens the Periodic Call Auction framework by defining illiquid scrips through a low average turnover measure applicable across all trading exchanges and prescribing exclusions based on market capitalization, dividend history, and a combined profitability, pledged promoter holding and book value test. Exchanges must keep a scrip in the auction for at least one quarter, provide at least two daily auction sessions with a uniform closing session, allow orders to remain valid all day and carry un matched orders into the next session, and implement systems and bye law amendments from the next quarter.

Opaque structure exemption: ring fenced regulated FIIs avoid opaque classification where broad based funds and disclosure undertaking exist.
An FII or sub account that must ring fence assets and liabilities by home law is not treated as having an opaque structure if it is regulated in its home jurisdiction, each fund or sub fund is broad based, and the applicant undertakes to provide beneficial owner information when requested by the regulatory authority.

Declaration of CFS required at assessment for FCL cargo; changes may be permitted by the assessing shed officer during carting.
Exporters of Full Container Load shipments must manually declare the Container Freight Station on the hard-copy checklist of the shipping bill at assessment; assessing officers must record that the goods are to be carted and examined in the declared CFS. Changes to the declared CFS at carting time may be permitted by the Assistant/Deputy Commissioner of the assessing shed.

Reversal of input tax credit required when credit or debit notes change taxable purchase value, excluding cash discounts.
Reversal of Input Tax Credit is required where a credit or debit note changes the tax credit claimed by a purchaser for Delhi sales/purchases; purchasers must adjust ITC in the period the note is issued. Credit notes arising from post sale discounts, returns, rate/quantity variation, consideration for facilities, or expense reimbursements trigger purchaser ITC reduction; cash discounts for early payment are excluded from output tax adjustment and need not be reported or lead to ITC reversal.

Service tax registration surrender procedure requires ACES filing with specified documents; pre migration registrations can use manual surrender.
Procedure requires electronic filing of surrender applications via the ACES module with submission of a signed printout and supporting documents to the jurisdictional Superintendent or Centralized Surrender Cell; required documents include Annexure I application and undertaking, up to six ST 3 returns, profit & loss and balance sheets (or alternative evidence), and Annexure II disclosures of show cause notices, demands, appeals, audits and investigations. Pre migration registrations may file manually; the Superintendent processes requests, may seek reconciliations (with specified exemptions), and will notify cancellation by e mail, subject to a 15 day cure period for deficiencies.

On the spot IEC application scrutiny ensures deficient submissions are returned immediately and only complete applications are accepted.
Creation of an IEC Assistance Cell at the IEC counter to verify IEC applications and supporting documents on the spot; deficient applications will be noted in the margin, returned immediately to the applicant and not recorded as 'Received', while only applications complete in all respects will be accepted and acknowledged.

Relaxation of time-frame for intimation under section 143(1) allows processing and issuing intimations in delayed refund cases.
The Board, invoking its general powers, directs that returns filed with refund claims which were not intimated within the prescribed time due to technical or other reasons not attributable to the assessee and whose intimation deadline lapsed before 01-04-2013 shall be processed and intimations issued by the Assessing Officer notwithstanding the statutory time-limit; the relaxation applies only to refund cases where no demand is shown or determined and progress is to be monitored by Additional/Joint CIT.

Import of power generating equipment under EPCG scheme: stakeholders invited to propose methods for counting export obligations.
DGFT seeks stakeholder views on permitting import of power generating equipment under the EPCG scheme despite Notification No.7 disallowing such imports, requesting proposals for methods to satisfy the Export Obligation-including using imputed value of power or treatments for common service providers-when power itself is not directly exportable, and inviting feedback to the designated contact by the stated deadline.

Shift from Trade for Trade Settlement allowed where dual depository connectivity and required dematerialisation certificate are in place.
Shift from Trade for Trade Settlement to Normal Rolling Settlement is permitted where listed companies have connectivity with both depositories and at least fifty percent of non promoter holdings are dematerialised, certified by the Registrar and Transfer Agent or, if no separate RTA exists, by a practising Company Secretary or Chartered Accountant; exchanges must ensure no other grounds for TFTS continuation and report actions in their development reports.

Special Currency Basket valuation revised, requiring authorised dealer banks to apply new rupee conversion and notify constituents under FEMA.
Revision of the Special Currency Basket rupee valuation is fixed at the updated value to apply from the specified effective date; Authorised Dealer Category I banks are required to apply this revised rupee value in their dealings and to notify their constituents. The Directions are issued under FEMA and are without prejudice to permissions or approvals required under other laws.

Dispute Resolution Panel under section 144C constituted; members and reserve appointed and duties additional, effective from date.
Order constituting a three-member Dispute Resolution Panel for Hyderabad with a specified reserve member; named officials are appointed to the panel, required to perform DRP duties in addition to regular duties, effective from the stated date and issued with administrative approval under the applicable dispute-resolution rules.

Submission of production and consumption data mandatory for listed SIONs; non submission bars Advance Authorisation and DFIA benefits.
Notification identifies six SIONs in Chemicals & Allied Products for review and requires manufacturers and Export Promotion Councils to submit revised data in ANF 4B, including mandatory production and consumption data, as per para 4.10.1 HBP vol.1; failure to provide the required data by the specified deadline will result in stoppage of the benefit of Advance Authorisation and DFIA for export products covered by these SIONs.

Ban on Thuraya satellite phones: mandatory brand declaration and confiscation risk for unlicensed devices in Indian waters.
Ban on Thuraya satellite phones requires steamer agents and masters to declare Thuraya, Iridium and similar satellite phones in the Pre Arrival Notification and in vessel stores and private property lists, specifying the brand/make. Agents must sensitize crew about the ban. Customs may inspect for usage in Indian waters and unlicensed or prohibited Thuraya/Iridium devices found in possession or use are liable for confiscation.

Applicability of Section 40(a)(ia) clarified: 'payable' includes amounts paid during the year and may trigger disallowance.
The Board clarifies that under Section 40(a)(ia) the term "payable" includes amounts payable at any time during the previous year and expressly includes amounts actually paid during the previous year without deduction of tax at source, thus attracting disallowance; where a High Court decision contradicts this departmental view, the CCIT must notify the CTC for priority examination to determine whether to pursue further proceedings or seek legislative amendment.

Input tax credit risk: buyers lose credit and face prosecution if sellers fail to file returns for tax invoices.
Buyers must ensure selling dealers both issue tax invoices and file returns; a seller's 2B statement alone is insufficient. If a seller fails to file or disappears, the buyer may lose input tax credit, be required to pay the tax with interest and penalty, and face criminal prosecution for relying on invoices from noncompliant dealers.

DTAA work allocation revised: directors reassigned DTAA, MAP, transfer pricing, and exchange of information responsibilities.
Revision of FT&TR directorate duties: Director (FT&TR II) handles DTAA for Asian countries (excluding Japan), non TP MAP for those countries, UN/SAARC capacity building, foreign training, OECD Global Relations coordination, dispute resolution panels, specified Income tax Act provisions, and related policy inputs. Director (FT&TR IV) manages DTAA and exchange of information for African and assigned jurisdictions, APAs, MAP including TP issues for assigned jurisdictions, Global Forum engagement (excluding automatic exchange), OECD Tax and Development coordination, capacity building (excluding UN/SAARC), training coordination, specified treaty provisions, and policy inputs. Director (FT&TR V) covers DTAA for South America, Australia/Pacific and Japan, non TP MAP for those regions, FIPB, multilateral group engagements, OECD ITD/tax crime coordination, parliamentary committee matters, specified procedural sections, and policy inputs.

Extension of advance tax deadline: administrative order shifts the December quarter payment date for all taxpayers.
The Central Board of Direct Taxes, under section 119(2)(a) of the Income tax Act, 1961, extended the due date for payment of the December quarter instalment of advance tax for Financial Year 2013-14 from 15th December 2013 to 17th December 2013, applying the extension uniformly to all assessees, both corporate and non corporate.

Submission of reports to ITSC: jurisdictional CIT must sign and timely submit reports; adjournments and vague enquiries discouraged.
Jurisdictional Commissioners must personally sign and submit all reports to the Income Tax Settlement Commission; subordinate reports forwarded without the Commissioner's signature are unacceptable. Reports must identify and make available seized material or relevant records relied upon and produce them when requested. Adjournments should be sought only for extraordinary reasons with prior notice. Requests for enquiries must specify precise issues. Rule-based reports must be submitted within the prescribed timeframe or any Commission-granted extension and must not be delayed due to pending statutory enquiries.

Risk Management System: exporters must populate designated shipping bill fields or face selection for examination.
Notice directs exporters and CHAs to furnish specific shipping bill information in designated fields: indicate factory stuffing and seal type, state whether Central Excise examined the consignment, and record claims under Chapter 3 reward schemes in the 'Whether export under Reward Scheme' column. Omission or misplacement of these particulars at submission may prompt selection for physical examination under the Export Risk Management System and cause processing delays; exporters/CHAs must provide complete details at submission and report any difficulties to the Commissioner (Export).