Pro rata customs duty on electricity from mixed imported and domestic coal: liability apportioned by the import/domestic coal ratio.
Where a SEZ power unit uses a blend of imported and domestic coal, customs duty on electricity cleared to the DTA or non processing areas is chargeable on a pro rata basis corresponding to the proportion of imported coal in the fuel mix for the relevant period, by applying the duty rate for units using imported coal multiplied by the ratio of imported coal to total coal used during the period.

Outsourcing risk management requires board approved policies, due diligence, binding contracts and regulator access for outsourced services.
SEBI requires intermediaries to adopt Board approved outsourcing policies and a comprehensive risk management programme, refrain from outsourcing core business and compliance functions, and complete a self assessment of existing arrangements. Intermediaries must conduct due diligence on third parties, preserve central records, mandate legally binding contracts specifying service levels, monitoring, confidentiality, IT security, business continuity, exit rights and regulator access, and remain fully liable and accountable for outsourced activities while ensuring investor protection and reporting suspicious transactions to the Financial Intelligence Unit.

Company Law Settlement Scheme extension announced; final extension with unchanged terms and no further renewals permitted.
Extension of the Company Law Settlement Scheme, 2011 is announced until a specified final cutoff, with an express statement that the scheme will not be extended further; all terms and conditions of the earlier circulars remain unchanged and continue to govern eligibility and settlement procedures.

Director identification compliance: PAN submission deadline extended; DIN holders must file DIN-4 to update PAN and avoid penalties.
Extension of time for furnishing PAN by existing Director Identification Number (DIN) holders: the Ministry directs DIN holders who did not furnish PAN at the time of allotment to file Form DIN-4 to update PAN details, and instructs dissemination through professional bodies and DIN Cell notifications to ensure compliance and avoid penal action.

Forward contract rebooking restriction now bars rebooking of cancelled forwards; deliverable hedges and reduced position limits follow.
The circular withdraws the facility permitting cancellation and rebooking of forwards by residents; forwards once cancelled cannot be rebooked. Past performance hedging limits are reduced and such contracts must be fully deliverable, with no passing of exchange gains on cancellations to customers. Cash/tom/spot client transactions must be for actual remittance/delivery and non cancellable. FIIs may roll over forwards but cancelled contracts cannot be rebooked. Net Overnight Open Position Limits for Authorised Dealers are reduced and intra day limits must not exceed the approved NOOPL.

Standard Input-Output Norms for PTFE export require specified precursor imports or alternative inputs with licensing conditions.
SION H-571 fixes input norms for Polytetrafluoroethylene (PTFE) exports: manufacture of 1 kg PTFE may use either Monochloro Di Fluoro Methane (Refrigerant R-22/HCFC 22) or, alternatively, Methanol together with Fluorspar in the stated quantities. Use of Import Item No.1 is subject to conditions under Import Licensing Note (1) to Chapter 29 of the ITC (HS).

Registration documentation requirements for service tax: identity, residence, constitution and authorisation proof required or application may be rejected.
Applicants for service tax registration must submit a copy of the Permanent Account Number, proof of residence, evidence of the applicant's constitution, and a power of attorney for authorised persons; these documents must be filed with the registering authority within the prescribed short-period after application or the registration may be rejected. The statutory timeframe for the officer to grant registration runs from the date the application is complete with those documents.

Infrastructure Debt Fund reporting: MCR format updated to require inclusion of IDF scheme data and revised reporting obligations.
The prescribed Monthly Cumulative Report format is revised to require mutual funds to include Infrastructure Debt Fund schemes in the MCR layout, capturing IDF investment data as set out in the annexure; mutual funds must adopt the revised reporting format from the regulator's specified reporting month, thereby updating their reporting obligations and compliance expectations for IDF scheme disclosures.

Compounding authority for FEMA contraventions delegated to regional RBI offices to streamline reporting and documentation.
Delegation of compounding authority under the Foreign Exchange Management Act, 1999 permits specified Regional Offices of the Reserve Bank to compound contraventions relating to delayed reporting of inward remittances, delayed filing of Form FC GPR after share allotment, and delayed issue of shares beyond the prescribed period; some Regional Offices may compound subject to a specified monetary limit while others have no limit. Applications within the delegated jurisdictions are to be submitted to the relevant Regional Office with the prescribed fee and detailed annexed schedules and supporting documents; other applications remain with the central Compounding Authority in Mumbai.

Copyright service taxation applies where copyrights are temporarily transferred; revenue-sharing may attract business support or renting classification.
Temporary transfer or permitting use of copyright by a distributor or transferee to an exhibitor is taxable as copyright service, and the transferor must collect and remit service tax. If no copyright is transferred, the transaction must be examined for levy under Business Support Service (including operational or administrative assistance) or Renting of Immovable Property, depending on whether the exhibitor merely provides premises or also furnishes support services; arrangements creating an unincorporated joint venture that constitutes a distinct person are likewise taxable under applicable service heads.

Representation by Development Commissioners: DCs must handle SEZ litigation with Government Counsel, referring only policy issues for departmental vetting.
Development Commissioners of SEZs are the primary officers to examine, prepare and represent litigation concerning their SEZs, including drafting counter affidavits after consultation with Government Counsel. Draft replies involving Department of Commerce policy issues must be vetted by that Department. If departmental directions are needed on specific issues, the DC should request clarification from the Department of Commerce, otherwise the DC should proceed to represent the Union of India in court.

Foreign investment in pharmaceuticals: greenfield allowed under automatic route; brownfield requires government approval under revised FDI policy.
FDI policy for the pharmaceuticals sector is amended so that FDI up to 100 per cent is allowed under the automatic route for greenfield investments, while brownfield investments are permitted under the Government approval route; AD Category I banks are to notify customers, and amendments to FEMA regulations will be separately notified, the directions being issued under the Foreign Exchange Management Act, 1999.

Conversion of import payables into FDI under Government route requires complete application within prescribed 180-day period.
Conversions of import payables for capital goods into FDI under the Government route require applications complete in all respects to be filed within 180 days from shipment; applications for capitalization must be complete and filed within 180 days from the company's incorporation. Other instructions of the earlier circular remain unchanged and amendments to FEMA regulations will be notified separately.

Revision of special currency basket value alters exchange valuation applicable to authorised dealer banks under FEMA directions.
The Reserve Bank notified Authorised Dealer Category I banks that, after a recalculation on November 23, 2011, the Rupee value of the special currency basket under the Deferred Payment Protocols has been revised and fixed with effect from November 28, 2011, and directed banks to inform their constituents; the circular is issued under FEMA and without prejudice to other statutory permissions.

Oral directions lack statutory force; written confirmation is required to validate supervisory instructions and prevent disciplinary exposure.
Directions from an official superior must ordinarily be in writing; oral directions should be avoided and, if given, must be confirmed in writing immediately thereafter. Oral or informal directions not confirmed in writing carry no statutory force and cannot be used by either subordinate officers or supervising officers to shield official actions from disciplinary scrutiny. Both superiors and recipients must ensure prompt written confirmation, failing which reliance on such directions is not permissible.

Centralized KYC registration enables single-client KYC verification across intermediaries, reducing duplication and enabling regulated data sharing.
The Regulations establish a centralized KYC Registration Agency regime requiring a SEBI-registered intermediary to perform initial KYC and upload authenticated client details to the KRA system so other intermediaries can verify and download those details, avoiding repetitive KYC. Stock exchanges and depositories must notify intermediaries, amend rules for implementation, monitor compliance via internal audits and inspections, and report implementation status to SEBI, with data security and a code of conduct forming essential compliance obligations.

Classification of Chlorinated Paraffins: solid waxes classed as artificial waxes under customs tariff; liquids classed under chemical preparations.
Chlorinated paraffin waxes in solid form are to be treated as artificial or mineral modified waxes and classified under the customs tariff provision for artificial waxes following the 2010 budget change; chlorinated paraffins in liquid form are to be classified under the customs heading for certain chemical preparations, consistent with the HSN Explanatory Notes. Field formations are to be instructed to apply these classifications.

Rupee value adjustment of special currency basket announced, requiring authorised dealer banks to apply the revised valuation in settlements.
The circular revises the Rupee valuation of the special currency basket used for settlement under the Deferred Payment Protocols with the erstwhile USSR, notifies Authorised Dealer Category I banks that a prior value has been superseded by a further revision effective from the stated date, and directs AD Category I banks to inform their constituents. The Directions are issued under the Reserve Bank's statutory powers and are without prejudice to other permissions or approvals required under law.

Tobacco products must carry new pictorial health warnings from 1 December 2011, with customs to enforce compliance.
The Ministry notified new pictorial and textual health warnings under the Packaging and Labelling Rules to apply to all tobacco products produced, supplied, imported or distributed for sale; these warnings include artwork for printing and take effect from the notified commencement date. The Central Board of Excise & Customs directs customs formations to ensure strict compliance and to verify that all tobacco products manufactured, packaged, or imported for sale bear the newly specified health warnings at the time of clearance.

Stamp duty on high sea sales confirmed; trade stakeholders must comply with stamp obligations for such sale instruments.
Stamp duty applies to contracts of sale executed in respect of goods sold while at sea (high sea sales) under the schedule to the applicable stamp law; Article 24 identifies instruments related to such transactions as subject to stamp duty. Trade stakeholders including importers, exporters and agents are informed that the registration and stamps authority has confirmed the levy and are directed to comply with the stamp duty requirements when documenting high sea sale transactions.