Redemption of export obligation defaults allowed by paying customs duty plus limited interest to close cases.
Authorization holders may regularize pending and adjudicated defaults in export obligation by paying applicable customs duty corresponding to the shortfall plus interest, with the interest not to exceed the customs duty payable; the facility covers duty exemption and EPCG scheme defaults and applies also to cases adjudicated or pending appeal, as a time limited mechanism for closure of pending cases.

Risk Management System in exports automates shipping-bill selection, directing assessment, examination or direct clearance based on risk.
The Risk Management System (RMS) in ICES electronically processes Shipping Bills to classify consignments by risk and direct them to verification of self-assessment, physical examination, or direct Let Export Order (LEO). Officers must follow RMS instructions; exporters/CHAs must comply with Compulsory Compliance Requirements and submit required documents at goods registration and at LEO. Amendments trigger reprocessing and may lead to assessment. In a later phase, RMS will select post-LEO Shipping Bills for Post Clearance Audit to examine potential short levies or undue incentive claims.

Risk Management System to govern export shipping bill selection, enabling facilitation for low risk consignments and targeted verification and audits.
The Risk Management System will electronically process Shipping Bills in the ICES to select consignments for verification, assessment, examination or direct Let Export Order (LEO). Low risk, self assessed bills may be facilitated to LEO after required documents and duty payment; high risk consignments will be interdicted for verification/examination. RMS decisions and instructions, including suggested Compulsory Compliance Requirements (CCRs), must be followed by officers; amendments require prior approval and may trigger reprocessing. Selected bills may be subjected to Post Clearance Audit to monitor compliance and data quality.

Advance ruling jurisdiction excludes questions of law already decided by Tribunal or Court; authority must confirm identical coverage.
Advance ruling authorities lack jurisdiction to hear questions of law already decided by the Appellate Tribunal or any Court for the same party under the cited provisos; the Authority must ensure the prior Tribunal or Court decision fully and squarely covers the identical issue of law before declining an application.

Long term foreign investors designation clarifies eligible foreign categories for participation in infrastructure debt funds.
Specified categories of foreign institutional investors are designated as Long Term Foreign Investors for Infrastructure Debt Funds, including foreign central banks, governmental agencies, sovereign wealth funds, international/multilateral organizations, insurance funds and pension funds; regulated foreign feeder funds are also included when a stipulated portion of their assets under management is held by investors from these categories.

Compliance timeline extension for employee benefit schemes under SEBI guidelines permits additional alignment while disclosures remain mandatory.
SEBI extended the compliance timeline for alignment of existing employee benefit schemes with SEBI (ESOS and ESPS) Guidelines, 1999, amending the Equity Listing Agreement to replace the prior compliance date with a later deadline while reiterating that all other disclosure and compliance requirements from earlier SEBI circulars continue to apply during an ongoing consultative review to frame more enforceable regulations addressing trust composition, disclosures, and safeguards for secondary market transactions.

Filing extension for R.10 block of CST Form 1 granted; non compliance attracts penalty under the DVAT Act.
Extension of the online filing deadline is provided for the R.10 block of Form 1 for the CST return for 2009-10 as part of the 2nd quarter 2013-14 return, with a short additional window for submission of the print/hard copy; failure to file this block after the extended date invites penalty under section 86 of the DVAT Act, 2004. The Central Sales Tax (Delhi) Rules, 2005 are amended to require issuance of Form DVAT-56 receipt on return submission and to substitute a revised Form 1 prescribing detailed turnover, deduction, tax computation and verification fields and instructions, including attachment of C portion challans and reporting of H Form transactions.

Risk Management System: automated selection of export shipping bills for verification or direct clearance enhancing facilitation and compliance oversight.
An automated Risk Management System will process Shipping Bills in ICES to select consignments for verification of self assessment, physical examination, or direct clearance; exporters must comply with consolidated Compulsory Compliance Requirements, submit required documents at goods registration, and follow amendment procedures, while selected bills undergo assessment by the Export Appraising Section and may be subject to subsequent Post Clearance Audit.

Safe harbour reporting: taxpayer details and eligible international transaction specifics requested under Form 3CEFA for return analysis.
A revenue administration requests, from returns filed up to the specified cut off, the name, address, PAN and Assessing Officer of each taxpayer who filed Form 3CEFA and the details of eligible international transactions for which benefit under the Safe Harbour Rules has been opted, to enable analysis of taxpayers electing Safe Harbour treatment and support compliance assessment.

Foreign investment limit in credit-enhanced bonds: purchases monitored, subject to depository approval and mandatory divestment on breach.
FIIs and QFIs may invest in credit enhanced bonds within the corporate bond foreign investment ceiling and a dedicated sublimit. Depositories must monitor and publish aggregate holdings daily, receiving same-day ISIN-wise and investor-wise transaction reports from Custodians/QDPs. When a threshold of the sublimit is reached, depositories will announce it, suspend fresh purchases without prior depository approval, and coordinate prior-approval requests received via Custodians/QDPs; approvals are granted after market hours on a first-come-first-served basis and valid for two trading days. Breaches require notified FIIs/QFIs to divest excess holdings within seven working days.

Regularization of export obligation defaults: one time facility permits payment of duty with capped interest to close outstanding cases.
A one time facility allows regularization of Export Obligation defaults under duty exemption and EPCG schemes by payment of customs duty corresponding to the EO shortfall plus interest, where interest payable is capped at the amount of customs duty. The scheme covers pending cases including those adjudicated or under appeal and requires compliance with the procedures in the referenced Public Notice and Policy Circular; stakeholders are invited to use the facility within the prescribed deadline.

Expedited tribunal hearings: directives issued to clear long-pending settlement cases and strengthen departmental representation.
Directives require expeditious disposal of long-pending ITSC applications with Benches fixing hearings and improved representation; strict no-adjournment practice and timely submission of reports; proactive steps to vacate Supreme Court stay orders on pre-31.5.2007 applications; prior intimation to Member(Inv) before filing writs under disclosure-based settlement provisions; amendment of Rule 44CA to forward entire settlement applications to Commissioners to assess "full and true disclosure"; consideration of placing ITSC settlements within Chapter XIX-A; note on transfer pricing bench designation to expedite adjudication and collection.

Compliance with Settlement Commission directions: immediate reporting, review of stayed cases and prior intimation before filing a writ.
Commissioners must submit reports to the Settlement Commission on time and avoid adjournments, especially for cases filed before 01.06.2007. Chief Commissioners and Directors General must review pending Settlement Commission cases from applications filed before 31.05.2007 where a judicial stay exists, take steps to vacate stays, and send a status list with reasons for pendency to the Member (Inv) CBDT by 28.11.2013. Advance intimation must be given to the Member (Inv) prior to filing any writ challenging a Settlement Commission order under the applicable provision.

Pre-shipment inspection agency notification: new PSIA added to Appendix five of the Handbook, effective immediately.
Amendment to the Handbook of Procedures adds Global Consortium for Inter Border Trade Inspection and Certification Ltd. as a notified Pre-shipment Inspection Agency (PSIA) in Appendix 5, listing its head office and branch offices across multiple regions and taking effect immediately under the Director General of Foreign Trade's authority.

Refund claim filing requirement: dealers must submit statutory form details online or refunds processed using department records.
Dealers with pending refund claims involving central sale or stock transfer against statutory forms must file online the information for pending statutory forms in Block R 10 of the CST return Form 1 by the prescribed deadlines; receipts can be obtained from the website. Absent timely submission, refund claims will be processed on the basis of the latest statutory form information available with the Department.

Transaction value regime: each removal must be valued independently under section 4(1) or applicable valuation rules.
Amendment clarifies that each removal of excisable goods must be assessed independently under section 4(1)(a) or the specific valuation rule applicable to that removal; rules 8, 9 and 10 now expressly apply whether the whole or part of clearances fall within their circumstances. The rules are not to be applied sequentially; each clearance is valued according to its factual contingency. The circular gives examples (independent buyers, captive consumption, related-party transfers) and notes deletions of prior clarifications, effective 1 December 2013.

Voluntary Compliance Encouragement allows regularisation of past service tax liabilities subject to strict limits on rejections and procedural safeguards.
Designated authorities must accept and acknowledge declarations under the Voluntary Compliance Encouragement Scheme, assist declarants to cure defects, and avoid returning declarations. Rejection on grounds of pre existing inquiries, investigations or audits must be construed strictly and limited to the specific period or issue under inquiry; where reasons for rejection exist a timely written notice of intention to reject must be issued. Payments made after the scheme began but before filing may be included in a declaration provided Cenvat credit was not used; amounts already discharged before the scheme are not eligible for declaration.

E-payment threshold reduction requires electronic deposit of service tax by qualifying assessees and notifies parallel central excise change.
An amendment lowers the electronic payment threshold for service tax so that an assessee who paid a total of service tax in the preceding financial year, including amounts paid by utilisation of CENVAT credit, must deposit service tax electronically through internet banking under the proviso to Rule 6(2) of the Service Tax Rules. A parallel amendment to the third proviso to Rule 8(1) of the Central Excise Rules imposes a corresponding obligation; both notifications take effect from the stated implementation date and Commissioners must issue public notices.

Jurisdiction reassignment directs a new tax assessing authority to assume control of a dealer and procure file transfer.
Directs appointment of Assistant Commissioner-cum-Value Added Tax Officer, Ward-64, to exercise jurisdiction over M/s Jain Departmental Store, TIN-07800213820, for the financial years 2008-09 through 2012-13 under provisions of the Delhi Value Added Tax Act and the Central Sales Tax Act; existing Assessing Authorities shall cease jurisdiction for those years and must forward the dealer's files and records for the period to the Assistant Commissioner, Ward-64 within three days of this order.

Forward-forward swap permission for overseas foreign currency borrowings enables delivery extension until year-end with penalty for non delivery.
Banks with a firm loan sanction or commitment on or before November 30, 2013 may enter into a forward-forward swap selling forward the contracted foreign currency for delivery up to December 31, 2013; failure to deliver on the contracted date requires payment of the difference between the contracted concessional swap rate and the market swap rate plus one hundred basis points, with all other notified swap terms unchanged and the relaxation available only for contracts entered into up to November 30, 2013.