Zero rated supply: exporters can claim Compensation Cess refund or export under bond with cess credit recovery.
Provisions defining zero rated supply under the IGST framework apply mutatis mutandis to the Compensation Cess on exports. Exporters may either claim refund of Compensation Cess paid or export under bond/Letter of Undertaking without paying Compensation Cess and claim refund of unutilised input tax credit of Compensation Cess attributable to the exports. The circular directs issuance of trade/public notices and reporting of implementation difficulties.

Position limits based on deliverable supply set client, member and exchange caps for agricultural commodity derivatives.
SEBI mandates that overall client-level open position limits for agricultural commodity derivatives be calculated as a fixed percentage of the commodity's deliverable supply (production plus imports) based on annual joint classification of commodities into sensitive, broad and narrow categories using five-year averages; exchanges must jointly compute, disclose sources, notify annual revisions when materially changed, and apply revised limits to running contracts from the prescribed effective date.

Composition intimation filing extended: FORM GST CMP-01 under Rule 3 deadline moved to 16 August 2017.
Extension of time granted for filing intimation to opt for composition levy under sub rule (1) of Rule 3 of the Delhi Goods and Services Tax Rules, 2017: intimation in FORM GST CMP-01 may be filed until 16 August 2017. The extension is issued under the authority of section 168 of the Delhi GST Act and applies only to the procedural filing requirement for composition levy.

Exemption from trade rules: specified government, diplomatic, transit and bonded imports excluded from Rules subject to conditions.
The Order exempts specified categories of imports and exports from application of the Rules, including imports by Central and State Governments and their agencies, defence procurements, consignments placed through the Directorate General of Supplies and Disposals, diplomatic and UN imports with duty exemptions, passenger baggage and tourist imports subject to re export obligations, postal and in transit consignments in custody of postal or customs authorities, and goods imported and bonded for re export, subject to prescribed conditions and penalties for failure to establish re export.

Tax Deduction at Source under GST requires DDOs to register, deduct prescribed TDS on large contracts and remit timely.
DDOs must register as tax deductors on the GST portal using TAN, obtain GSTIN, and deduct prescribed TDS on taxable government procurements above the threshold (excluding supplies from outside the State) calculated on the taxable contract value excluding GST and cess. Deducted amounts must be remitted via the GST challan process within the statutory time after the month of deduction, using the designated bank account and quoting CPIN/CIN; an electronic TDS certificate must be issued within five days of remittance and a monthly TDS return filed by the due date. Interest, fees and penalties attach for delay or default and DDOs are personally liable.

Single Window Interface for Facilitation of Trade extended for online WCCB referrals at all customs EDI locations, local mapping required.
Extension of the Single Window Interface for Facilitation of Trade (SWIFT) in exports to provide online referral of shipping bills for CITES/wildlife items to the Wild Life Crime Control Bureau (WCCB) at all Customs EDI locations; mapping to follow import-side mapping; Local System Managers of ICES to map roles to WCCB officers as defined in the SW NOC module and user manual; Chief Commissioners to sensitize staff, agencies and brokers, issue public notices to trade, and report difficulties to the Board.

Computation of book profit for MAT now starts with Profit before Other Comprehensive Income; transition adjustments specified.
The starting point for computing book profits for Ind AS compliant companies is Profit before Other Comprehensive Income. MTM gains and losses on FVTPL recognised through profit or loss are included in book profit, and MTM losses on such instruments need not be added back under clause (i) of Explanation 1 to section 115JB(2). Transition Amount is measured using Ind AS adjustments at the opening date of the first Ind AS reporting period; it excludes proposed dividend, deferred tax on transition, provisions for doubtful debts, and share application money reclassified to Other Equity, but includes equity components of financial instruments and service concession adjustments.

Re-testing of import samples: second-test requests allowed and Competent Authority decides which laboratory result to rely upon.
Re-testing of import samples is available on written request within ten days; the Additional/Joint Commissioner specifies an appropriate laboratory and re-tests must use original remnants or duplicate sealed samples in Customs custody, with fresh sampling only in the presence of the importer. The Competent Authority considers re-test results alongside the first test, records reasons in writing when relying on either result, and may order a further re-test in appropriate cases while consignments remain under Customs control. Re-testing is ordinarily permitted but may be denied on reasonable recorded grounds.

Exemption from reporting under section 143(3)(i) applies to eligible private companies' audit reports filed after notification.
The exemption from reporting under section 143(3)(i) applies to audit reports in respect of financial statements for financial years commencing on or after 1 April 2016, where those audit reports are made on or after the date of the notification.

Extension of time for composition levy intimation: filing of Form GST CMP-01 extended under relevant rule.
Extension of the period for filing intimation to opt for the composition levy by directing submission of Form GST CMP-01 within an extended deadline, issued under the administrative powers conferred by the GST enactment and the relevant rule governing composition intimation.

Public grievance redressal committee reconstituted to examine trade complaints about administrative decision delays and accept sponsored grievances.
Public Grievance Redressal Committee in Central Excise, Hyderabad IV Commissionerate is reconstituted with the Commissioner as Chair and specified internal and external members; its remit is to examine trade complaints about delays in decision making by officers below Commissioner and to consider grievances sponsored by trade bodies or members.

Bond or Letter of Undertaking for export without integrated tax may be accepted by the local Deputy/Assistant Commissioner.
A Bond or Letter of Undertaking required to export without payment of integrated tax must be furnished prior to export in Form GST RFD-11. Acceptance of that Bond or Letter of Undertaking will be by the jurisdictional Deputy/Assistant Commissioner having physical jurisdiction over the exporter's principal place of business. Until the online module is available, the instrument may be furnished manually in the specified format to that Deputy/Assistant Commissioner. Container sealing under customs supervision continues as stated and a sealing report is to be forwarded to the Deputy/Assistant Commissioner having jurisdiction.

Mandatory online filing for REITs and InvITs required; use intermediary portal for registrations and regulatory filings.
All applicants and registered entities qualifying as Real Estate Investment Trusts and Infrastructure Investment Trusts must submit registration applications, reports and regulatory filings exclusively through the SEBI Intermediary Portal. The portal supports application for registration, ongoing reporting and statutory filings under the applicable REIT and InvIT regulations; a user manual and helpline are provided and existing InvITs must activate their online accounts.

Continuity bond recognition: EOU bond treated as continuity bond; inter unit transfers invoiced with CST and customs implications.
The B 17 running bond will serve as the continuity bond for EOUs under the Import of Goods at Concessional Rate of Duty rules; units must provide estimated quantities and values of imports for up to one year and may amend those submissions; during the transitional period units may follow Rule 5 procedures or use procurement certificates; inter unit transfers are invoiced with applicable CST and without upfront customs duty, suppliers must endorse the customs duty exemption availed and recipients are liable to pay basic customs duty when goods or finished products are cleared for domestic tariff area, and procurement certificates are not required for inter unit transfers.

Transshipment Procedure Compliance now requires EDI processing; manual acknowledgements for bonded or air transshipments to Chennai disallowed.
The notice mandates exclusive use of the online Transshipment Permit and Cargo Transfer Manifest processes via Electronic Data Interchange for import cargo transshipped to Chennai Air Cargo Complex, requiring EDI transmission of CTM/TP filings, customs approvals, bond and TP fee debits, post-transshipment loading reports and destination gate-in processes; manual acknowledgements or handwritten receipts for bonded truck or air transshipments will not be accepted, to preserve system integration and avoid fresh IGM filings.

Electronic Shipping Bill Regulations: amendment notified, guidance issued for importers, clearing agents and trading public; details online.
Amendment to the Shipping Bill (Electronic Declaration) Regulations is notified, updating procedures and compliance requirements for electronic filing of shipping bills; the Government notification is provided and stakeholders including importers, clearing agents and the trading public are directed to consult the enclosed notification and online portal for operative details and to align their filing and clearance practices accordingly.

Shipping Bill and Bill of Export forms: notification issues revised forms and guidance for importers, clearing agents, and traders.
The Shipping Bill & Bill of Export (Forms) Regulations, 2017 notification prescribes revised formats and related requirements for shipping bills and bills of export and is circulated as guidance to importers, clearing agents and the trading public, with the full text available on the departmental website.

AIRS of duty drawback amendment issued; importers and clearing agents must consult the official notification on CBEC website.
Amendment issued to the customs framework governing AIRS of duty drawback by Notification No. 59/2017-Customs (N.T.), affecting Notification No. 131/2016-Customs (N.T.); importers, clearing agents and the trading public are advised to consult the enclosed amending notification on the CBEC website for operative details and compliance requirements.

Drawback rule amendment notifies procedural changes to drawback claims; importers should consult the official notification online.
Amendment to the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995 by Notification No. 58/2017 revises the regulatory framework for drawback entitlements and procedures. The public notice circulates the notification for the guidance of importers, clearing agents and the trading public and directs stakeholders to consult the enclosed notification and the official departmental website for implementation particulars and compliance.

Continuity bond and import reporting clarified for EOUs: B-17 bond accepted, estimations amendable, inter unit transfers GST invoiced.
The notice confirms that the B-17 running bond fulfils the continuity bond requirement under the Import of Goods at Concessional Rate rules; estimated import quantities and values need be provided for up to one year but may be submitted for shorter periods and amended as required; transitional option allows use of Rule 5 or procurement certificates for imports; inter unit transfers occur on invoice with GST without immediate customs duty payment, supplier must endorse exemptions and recipient is liable for basic customs duty when goods are cleared to DTA or made into finished goods.