Rebate of State Levies revised for garment exports; updated ROSL rates apply once revised drawback rates take effect.
Rebate of State Levies under the ROSL Scheme has revised Schedule I and Schedule II rates which become applicable to exports with Let Export Order dates from the date the revised drawback/average input rates replace the earlier notification; EDI implementation of the revised ROSL rates will be undertaken by the Systems Directorate.

Online transmission of SEIS scrips enables automatic Customs EDI integration, replacing manual registration while requiring port verification.
SEIS scrips will be transmitted from the issuing authority to Customs and automatically integrated into the ICES database, removing the need for manual entry at the port; a one-time physical verification at the port is required before use. Manual debits effected prior to integration or verification are permitted but must be recorded in the EDI ledger and on the hard copy of the scrip, and supporting documents should be presented to the departmental officer for entry within ten days of the notice.

Taxation of cross-border OIDAR services: non-resident suppliers or liable intermediaries must collect and remit service tax.
Cross-border OIDAR services supplied from non-taxable territory to non-assesse online recipients in India are taxable from 1 December 2016: PoPSR amendments make the place of provision the recipient's location for OIDAR, redefining OIDAR and removing prior exceptions. Non-resident suppliers (or appointed Indian agents) must register, collect and remit service tax on supplies to non-assesse recipients under forward charge; cross-border B2B OIDAR supplies remain subject to reverse charge. Intermediary/deeming rules and indicia to determine recipient location are provided, with LTU Bengaluru as administrative authority.

Withdrawal of legal tender status for specified high-denomination banknotes, with limited airport and tourist exchange exceptions.
Withdrawal of legal tender status for existing and older series high-denomination banknotes is effective from midnight of November 8, 2016, with limited transitional exceptions permitting exchange at international airports and by foreign tourists for small-value holdings until November 11, 2016; Authorised Persons must implement and notify constituents, and the directions are issued under FEMA provisions without prejudice to other legal permissions.

Legal tender exemption for specified bank notes allows limited transactions and mandatory record-keeping during transitional period.
The Central Government provided a temporary legal tender exemption for the specified bank notes, permitting their use for narrowly defined transactions-payments at Government hospitals and pharmacies with prescription, ticket purchases at railway, government bus and airline counters, authorised consumer cooperative stores and milk booths, fuel stations of public sector oil companies, crematoria and burial grounds, and limited exchanges by international passengers and foreign tourists-and required all such establishments to maintain complete accounts and records of stock and sales of transactions effected with the specified bank notes during the transitional period.

Actual user condition imposed on boric acid imports, rendering them ineligible for Duty Free Import Authorisation.
Import of boric acid is made subject to the Actual User condition through amendments to multiple SION entries and renumbering of existing notes; as a result, boric acid is ineligible for import under the Duty Free Import Authorisation scheme.

Annual return requirement suspended for combined central excise and service tax filings pending GST implementation.
In view of the impending implementation of GST, the Board has decided that the Combined Annual Return for the year 2015-16 need not be filed; after GST implementation an annual return may be required only for non-GST goods and a final decision will follow consultation with trade, with trade asked to report implementation difficulties to the Board.

Transferability of SFIS-imported goods permitted after prescribed retention period; DGFT to consider legacy scheme transfer requests with exceptions.
Goods imported or procured by debiting duty in SFIS scrips under FTP 2009-14 may be sold or transferred after a three year retention period from date of clearance; requests under FTP 2004-09 will be considered by DGFT on merits in line with the High Court's reasoning. Consumables, including food and alcoholic beverages, remain non transferable even after the retention period. DGFT may permit export sale of imported/procured goods any time post import provided no export incentives or refunds are claimed and any return to India will be treated as fresh import.

Random verification of EPCG export obligations ensures selective customs scrutiny; EODCs are generally accepted with specified exceptions.
Customs will normally accept Export Obligation Discharge Certificates issued under EPCG in terms of FTP/HBP without repeating DGFT's block-wise verification, subject to random detailed checks of a limited number of cases, verification prompted by specific intelligence, endorsement by Regional Authorities, and mandatory genuineness checks of non-EDI shipping bills. Selection for detailed checks will be made by the Joint/Additional Commissioner, with the exporter informed on the date of selection via official email.

ECB hedging requirement: borrowers must fully hedge principal and coupon from liability creation, with at least one-year tenor and rollover.
ECB borrowers must cover principal and coupon through financial hedges where mandated, with hedges starting when the liability is created and maintained to ensure continuous coverage. A minimum one-year tenor for hedges is required with periodic rollovers to avoid any unhedged exposure. Natural hedge is acceptable only to the extent of matching projected inflows in the same currency within the same accounting year, net of outflows; revenue-indexing arrangements do not qualify. Designated authorised dealer banks must verify compliance and update Master Direction procedures.

Electronic Delivery Orders required; carriers must offer multiple e-payment options with real-time 24x7 acknowledgement.
Shipping lines, freight forwarders and NVOCCs are Customs Cargo Services Providers required to register under the Handling of Cargo in Customs Areas Regulations, 2009; to provide required infrastructure and manpower; to adopt Electronic Delivery Orders and electronic invoicing; to offer multiple e-payment options with real-time 24x7 acknowledgement; to restrict manual DOs to prescribed exceptions; and to publish and display transparent schedules of charges, with non-compliance liable for action under the Regulations.

Discontinuation of manual debits on physical Advance Authorisations-customs to rely on and verify EDI debits instead.
The practice of endorsing physical Advance Authorisations with manual usage debits is discontinued for future authorisations electronically registered at EDI ports; examining officers must confirm proper debit in the EDI system. For ARO/invalidation or domestic sourcing, holders must obtain an Advice Letter from the Group DC/AC updating records, emailed to the Regional Authority and retained in office files. Manual clearance during EDI breakdowns is permitted only with safeguards ensuring subsequent EDI debit entry; TRA facility use at non-EDI ports is unaffected.

Clearance of metal scrap now separates shredded free movement from risk-based checks and mandatory scanning for un shredded consignments.
Imports of metal scrap in shredded form are permitted through all ports without pre-shipment certificates under existing practice. Un-shredded, compressed or loose scrap must be cleared only at EDI ports with operational Risk Management Modules and is subject to documentary or physical checks based on risk selection; designated ports are to install radiation portal monitors and container scanners, and, pending installation, scanning will occur where facilities exist. Authorities may allow removal of sealed containers to importer premises under re-warehousing at the importer's risk and cost, subject to scanning and risk-assessment conditions.

GST Council sets multi band tax structure, five year compensation funded by a sunset cess and mandates fitment and system readiness work.
The Council adopted a multi band GST rate structure (exempt, 5%, 12%, 18%, 28%; services generally 18%), authorised a five year compensation mechanism funded by a cess on specified items above 28% credited to a public Compensation Fund with a five year sunset and equal residual sharing between Centre and States, instructed an officers' Committee to carry out fitment of goods and to report back, received GSTN implementation and migration updates for phased portal rollout and deferred final decision on cross empowerment for single interface administration pending further political consultations.

Unaccompanied baggage clearance now processed via EDI with BDF submission, assessment, and gate-pass procedure ensuring documentation verification
Procedures require passengers or authorised CHAs to submit a duly completed Baggage Declaration Form with supporting documents to the Superintendent of Customs for scrutiny and signature, then present the BDF to the designated EDI service centre for submission into ICES 1.5. A Preventive Officer examines goods and uploads an Examination Report; the Superintendent verifies assessment and either assesses the BDF or forwards it to AC/DC UB Centre where Transfer of Residence is claimed, baggage value exceeds the threshold, or imports appear prohibited. After assessment, payment of duties/fines is made and Out of Charge is endorsed; CFS gate pass and demurrage/handling payments complete delivery.

Rebate of State Levies opt-in via shipping bill scheme code enables FOB-based rebate credited to exporter account.
The ROSL scheme provides a voluntary rebate of specified State levies on textile garments; exporters must opt in by selecting prescribed scheme codes in the EDI Shipping Bill, which is the sole method of claim. Rebates are calculated on FOB value using notified rates and caps, credited to the exporter's drawback AIC, and displayed at item and shipping-bill levels on ICEGATE. Shipping Bills with LEO on or after 20-09-2016 are eligible if amended to include the scheme code before LEO.

Rupee denominated bonds overseas permitted for bank capital instruments and infrastructure and affordable housing financing.
Banks may issue rupee denominated bonds overseas to raise funds through perpetual debt instruments qualifying as Additional Tier 1 capital, debt instruments qualifying as Tier 2 capital, and to finance infrastructure and affordable housing, subject to applicable prudential norms and FEMA guidelines and relevant existing instructions.

Document Management System expansion to an additional CFS; existing procedures remain in force and stakeholders urged to cooperate.
Implementation of a Document Management System (DMS) centre at the specified CFS is placed into immediate operation to extend existing electronic document-handling facilities; current operational processes and measures will remain unchanged and continue to follow procedures set out in the earlier facility notice. Stakeholders are requested to cooperate and report any difficulties or suggestions for improvement to the issuing office.

Rupee denominated bonds overseas now permitted for Indian banks as issuers for capital and long term infrastructure funding.
Indian banks may issue Rupee denominated bonds overseas within the foreign investment limit for corporate bonds, including Perpetual Debt Instruments qualifying as Additional Tier 1 capital, Tier 2 debt instruments, and long term rupee bonds for infrastructure and affordable housing. Such issuances must comply with Basel III capital regulations and the Reserve Bank's guidelines on long term bonds for infrastructure and affordable housing. Underwriting by overseas branches or subsidiaries of Indian banks is not permitted. The change treats Indian banks as eligible borrowers while other provisions remain unchanged.

Standard Input Output Norms changes restrict Advance Authorization use and impose CIF caps and actual user conditions on food SIONs.
The Directorate General of Foreign Trade has issued immediate amendments to Food product SIONs: specified SIONs are deleted or suspended with no Advance Authorization under the Advance Authorization route to be issued and applicants directed to apply under the alternate Handbook of Procedures route; individual SIONs are revised by deleting input items, adding or renumbering notes, imposing CIF value caps on specified inputs, applying actual user conditions, replacing DFRC with DFIA in notes, and adjusting input quantity rules for certain products.