Subscription access to customs import/export daily lists requires payment by demand draft and stipulates delivery and usage conditions.
Subscription facility for the Bangalore Customs Commissionerate Daily List of Imports and Daily List of Exports is extended on payment of prescribed charges payable only by Demand Draft/Pay Order to the Commissioner of Customs, Bangalore; payments are non refundable. Outstation subscribers may receive data by e mail, registered post or speed post; subscribers must state the mode of use. The Notice lists the specific import and export data fields to be supplied and notes that fields may change with updates to the ICES publication format.

ITC HS Code harmonization updates modify eligibility for export incentive scrips under VKGUY and FPS.
Revisions to Appendices 37A (VKGUY) and 37D (Focus Product Scheme) update ITC (HS) Codes, product descriptions and serial entries for specified export items; shipping bills bearing existing or revised codes remain eligible for incentives. The Notice corrects previously notified codes and descriptions, withdraws a value cap on VKGUY scrip for dried fish, amends RCMC registration provisions in Para 2.63(d) to clarify EPC responsibility for certain exporters, and inserts a product specific eligibility note. Effective dates for each revision are stated in the tables.

Assessment orders required where a statutory notice is issued, even if the resulting demand is nil.
Extension of time for default assessments is granted until 28.02.2013. Where statutory forms are complete and no apparent discrepancies exist, information under Section 59 need not be sought and reconciliation alone is sufficient. However, if a notice under Section 59 is issued, the Assessing Authority must pass an assessment order under Sections 32 and/or 33 of the DVAT Act, 2004, even if the outcome is a nil demand.

XBRL filing permitted for cost audit and compliance reports, allowing late submissions without penalty under an extended timeline.
Cost auditors and companies may file Cost Audit Reports and Compliance Reports in XBRL format for 2011-12 and overdue years without penalty if filed within 180 days from the close of the relevant financial year or by January 31, 2013, whichever is later.

Declaration of Intent waiver allows chapter three benefits for specified exports without late fee until the filing deadline.
Regional Authorities shall grant chapter three benefits for exports where shipping bills were filed under Chapter Four (including drawback), Chapter Five or Chapter Six during 1 January 2011 to 2 June 2011 even if the Declaration of Intent was not mentioned; such requests must be filed with the respective Regional Authorities by 30 April 2013 and will not attract any late cut or late fee, and no applications will be accepted after that date.

Revolving bank guarantee permitted for import of precious metals where export obligations are met and proceeds realised.
Bank guarantees furnished for duty free import of gold, silver, platinum and related items may be reused for subsequent consignments where the importer has fulfilled export obligations and export proceeds for earlier consignments have been realized; the guarantee must be sufficient to cover the duty involved and remain valid for an adequate period with a self renewal provision, and field formations must ensure continued validity until proceeds are realised.

Job work removals: inputs may be sent to job workers under prescribed challan procedure; duty arises if not returned within the prescribed period.
Rule 16A allows removal of inputs to a job worker under a duplicate printed challan signed by the sender; the document must record sender registration details, registering Range/Division/Commissionerate, goods description, quantity and value, dispatch date, and job worker particulars, with accountability remaining with the sender. The job worker must acknowledge receipt. Goods must be returned within the prescribed period or the sender must pay duty with interest thereafter. After processing, goods may be returned without duty or cleared for home consumption/export under Cenvat procedures. Simple accounts must be maintained; 100% EOUs are excluded and the Commissioner may vary conditions.

Refund verification required: assess and upload or reconfirm demands so electronic refunds align with outstanding tax liabilities.
Assessing Officers must verify e-filed returns with high-value refunds to determine whether outstanding demands exist and upload any such demands to CPC-FAS; where refunds already accompany uploaded demands, Assessing Officers must reconfirm or update those demands so that CPC can adjust refunds against outstanding demands. Chief Commissioners of Income Tax must monitor, certify completion within twenty-one days, and file compliance reports to Zonal Members with copies to CIT(CPC) Bengaluru and DIT(S)-III, failing which returns will be processed at CPC Bengaluru.

Status recognition applications by EHTPs and STPs must be filed with the concerned jurisdictional regional authority.
The amendment to Para 3.2.1 specifies that applications for Status Recognition shall be filed with the concerned jurisdictional Regional Authority/Development Commissioner of DGFT. It further clarifies that where export performance of EOUs/SEZs is clubbed with a company/firm/Group Company in the domestic tariff area, such cases will continue to be considered only by the jurisdictional RA of DGFT, and that EHTPs and STPs shall file status recognition applications with their jurisdictional RAs.

Transfer pricing reference: a new TPO referral is needed only if fresh facts emerge after a search.
A fresh reference to the TPO under Section 92CA(1) is not automatic in search-related reassessments; it is required where the AO deems it necessary or expedient. If a prior TPO reference existed but the TPO report was not received or the assessment was not completed before initiation of action under Section 132/132A, those proceedings abate and a new reference will be required during Section 153A/153C proceedings. If the assessment was completed taking the TPO report into account before the search, it does not abate and a fresh reference is needed only if further facts relevant to transfer pricing are discovered.

Offer For Sale mechanism updated with revised order types, upfront margin, real time margin handling and next day settlement.
OFS rules amended to require promoter eligibility for top market cap companies, define Indicative Price as the volume weighted average of valid bids, mandate trading hours order placement and a separate OFS window with two order categories (100% upfront margin orders permitting modification/cancellation; institutional non margin orders restricting reductions), require Clearing Corporation collection of margins with real time handling on order changes, display cumulative bid quantities and indicative price during sessions, prescribe trade for trade next day settlement for margin backed and non institutional orders, and impose a penalty on pay in defaults credited to the Investor Protection Fund.

Dedicated debt segment enables separate trading, clearing, settlement and membership frameworks for retail and institutional debt markets.
Establishment of a dedicated debt segment on stock exchanges providing separate listing, electronic trading (retail and institutional markets), clearing and settlement frameworks, reporting to a common trade repository, prescribed trading conventions and timelines, permitted market making, and membership/registration requirements with specified margin and risk management regimes for retail and institutional markets.

Beneficial ownership identification required for intermediaries, mandating KYC/AML verification of ultimate natural owners and controllers.
SEBI requires intermediaries to identify and verify natural persons who ultimately own, control or influence non-individual clients by: (1) identifying persons with a controlling ownership interest (specified ownership thresholds for companies, partnerships and unincorporated bodies); (2) identifying persons who exercise control by other means (voting rights, agreements, arrangements); and (3) where no such persons exist, identifying the senior managing official. For trusts, identify settlor, trustees, protector, beneficiaries with significant interest and any person exercising ultimate effective control. Listed companies and majority-owned subsidiaries are exempt. Immediate implementation and monitoring obligations are mandated.

Permitted transactions for Vostro accounts now include specified medical and hotel payments by certain non-resident nationals.
Two items in Part (B) of Annex I to the A.P. (DIR Series) Circular No. 28 are modified: Vostro accounts may be used for payments to Indian medical institutions and hospitals for treatment of NRIs/their dependents and nationals of Gulf countries, Hong Kong, Singapore and Malaysia; and for payments to hotels by nationals of those jurisdictions and by NRIs for their stay. All other instructions in the referenced circular remain unchanged, and AD Category I banks must inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999.

Foreign investment limits increased for FIIs in government securities and corporate debt, easing maturity and lock in requirements.
The circular raises FII investment ceilings in Government securities and corporate debt, increases the sub limit available to FIIs and long term investors for dated government securities while removing the prior residual maturity condition (subject to exclusion of short term Treasury Bills), expands overall corporate debt limits with sectoral sub limits and exclusions for CDs/CPs, preserves a separate QFI corporate debt ceiling above the revised limit, and relaxes lock in and residual/original maturity conditions for infrastructure and QFI investments.

Extension of filing deadlines for VAT returns-online and hard copy schedules revised; tax must still be deposited on time.
Extension of filing deadlines for DVAT/CST returns: December 2012 monthly dealers' online and hard copy return deadlines are extended; quarterly dealers' third quarter filing deadlines are staggered by prior year net tax paid with earlier deadlines for higher net tax categories and later deadlines for lower categories. Tax due for the extended periods must be deposited as required by law, and interest and penalty provisions apply for late payment.

Customs pass issuance for self-clearance: eligibility and documentation required; two-year validity and renewal permitted, subject to IEC verification.
Issuance procedure for Customs passes in the "Self" category prescribes that passes are available to proprietors, partners, directors and full time regular permanent employees for regular visits to Air Customs import section; temporary or probationary employees are excluded. Applications must include entity proof with BIN/IEC indicated, attested identity and education documents, appointment and residential proof, attestation forms, past B/E or S/B copies if any, list of pass holders, a two year business volume statement, and for power of attorney holders a notarized bond and bank attested specimen signatures. Passes are valid for two years and renewable on employer request.

ASBA facility expansion: SCSBs must designate branches and brokers may collect forms, enabling wider ASBA access.
The circular mandates expansion of the Application Supported by Blocked Amount (ASBA) facility to syndicate, sub-syndicate and non-syndicate broker networks; requires Self Certified Syndicate Banks with branches in broker-center locations to name at least one branch to receive ASBA forms; directs stock exchanges to publish broker-center locations; requires merchant bankers to disclose the arrangement in offer documents; and makes the instructions applicable to public issue offer documents filed on or after March 1, 2013, with the circular later rescinded by a master circular dated February 9, 2026.

Extension of return filing deadline: online and hard-copy dates extended; tax deposit obligation and penalties remain applicable.
The Department extended the last date for online filing of DVAT/CST returns for the third quarter of 2012-13 to 01.02.2013 and the last date for filing the hard copy to 05.02.2013 under Rule 49A of the DVAT Rules, 2005; tax must be deposited as per Section 3(4) of the DVAT Act, 2004 and penalty and interest for late deposit remain applicable.

Custom House Agent licence eligibility requirements announced; applications invited with specified qualifications, financial viability, bonds, and procedural conditions.
Invitation for grant of Custom House Agent licence under Regulation 4 requires applications on Form A with firm/company particulars and identification of the person to carry out customs clearance. The nominated person must meet Regulation 8 qualifications (specified academic/professional credentials, experience, or examination passage or retired Group A service), demonstrate financial viability through acceptable bank or state authority evidence, and be an Indian citizen. Successful applicants must submit prescribed bonds, a security instrument in favour of the Commissioner, the licence fee, twenty year bio data, declarations regarding other CHA licences and any customs prosecutions, and may be required to attend written and oral examinations.