FDI caps in space sector updated: automatic entry up to specified thresholds; above that requires government route under space guidelines.
The Press Note amends FDI norms for the space sector by specifying sectoral caps and entry routes: satellite manufacture/operation, satellite data products, and ground/user segments permit FDI via automatic route up to a set threshold with higher proposals routed to government approval; launch vehicles and spaceports permit automatic entry up to a lower threshold with higher investments on government route; manufacturing of components/subsystems is permitted fully under the automatic route. Investee entities are subject to sectoral guidelines issued by the space authority and the changes take effect after the FEMA notification.

Penalty increase for customs contraventions: the standing order's maximum sanction was administratively raised by corrigendum.
Amendment to Standing Order No. 01/2024 revises Serial No. 13 to increase the maximum monetary sanction for any person who contravenes, abets, or fails to comply with provisions of the Act; the Corrigendum corrects the prior penalty figure and operates as an administrative amendment to that enforcement parameter.

Bond and bank guarantee cancellation expedited on submission of EODC/Redemption Letters, with QR-coded EODCs eligible for same-day closure.
A special administrative drive mandates cancellation of Bonds/Bank Guarantees for EPCG and DEEC licences upon submission of DGFT-issued EODC/Redemption Letters, prioritising licences with QR-coded EODCs for same-day closure after verification and issuance of an acknowledgement; submission must be made to nominated officers or designated email addresses, and nominated nodal officers are available to resolve difficulties.

Electronic submission of vessel manifests allowed; IGM/EGM to be emailed with attested PDFs and required subject details.
Temporary procedure permits electronic submission of IGM and EGM by email to designated addresses with PDF scans duly attested by the Authorized Signatory; emails must state Rotation Number, Vessel Name and ASA name in the subject. Cargo Declarations continue via ICEGATE and certain declarations remain submitted at Imports/Exports as mandated. Physical originals required for closure (e.g., bonds, draft survey reports) are to be presented at the Sevottam Counter against acknowledgement; Port Clearance will be issued electronically.

Change of CFS operator to CC Logix Parks India: appointed custodian with bond, insurance, liability and compliance obligations.
CC LOGIX PARKS INDIA PRIVATE LIMITED is appointed custodian of the Haldia CFS under Section 45 of the Customs Act, 1962 and HCCAR, 2009 until 03.11.2024, subject to review; it must execute a Rs. 8.64 crore bond, maintain insurance (Rs. 30 crore submitted), assume liabilities of the prior operator, comply with applicable customs provisions and indemnify the Commissioner against loss or damage to cargo.

Rectification of errors apparent on record under section 161 permits correction of clerical or arithmetical mistakes without litigation.
Section 161 permits rectification of errors apparent on the face of record, suo motu or on application, subject to time limits and natural justice; rectification is limited to ex facie clerical or arithmetical mistakes that do not require further arguments, and FORM GST DRC-08 must be used to record such rectifications.

Processing of delayed income-tax refunds: electronic returns with refund claims may be processed with administrative approval and intimation.
Electronically filed returns with refund claims that remained unprocessed due to technical or administrative reasons may be processed despite lapse of the statutory timeframe, subject to prior administrative approval by the Pr. CCIT/CCIT; DGIT (Systems) will enable the Assessing Officer on a case-by-case basis and the Pr.CIT/CIT will monitor disposal, while returns selected for scrutiny, returns showing or likely to generate demand, and returns unprocessed for reasons attributable to the assessee are excluded.

e-Verification high-risk cases: Assessing officers must initiate reopening proceedings and issue reopening notices via the Insight portal.
Assessing Officers must review High-Risk e-Verification cases where Prescribed Authorities have prepared PVRs and FVRs including an estimated Value at Risk; they may obtain specified authority approval and initiate reopening proceedings and issue reopening notices without first issuing the intermediary verification notice. All verification materials, PVRs and taxpayer submissions are available on the Insight portal e-Verification module for AO review, and initiation of proceedings is performed via the portal which pushes the activity to ITBA for notice generation.

Customs penalties clarified: specified caps for valuation and duty evasion, reduced 25% relief if promptly paid, and strict adjudicator reasoning.
Guidance prescribes specific penalty maxima under the Customs Act for Sections 112, 114A and 114AA: varied caps under Section 112 tied to value, duty evaded or valuation differentials; Section 114A mandates penalty equal to determined duty or interest with a 25% reduced rate if paid within thirty days subject to appellate adjustments; Section 114AA allows up to five times the value of goods for knowingly false material. It directs that 114A penalties preclude penalties under 112 or 114, that 114AA be used sparingly, and that adjudicators give clear reasons for choice and quantum of penalty.

Compliance Management transfer: NS IV commissionerate to assume zonewide compliance functions and designated sections reassigned.
All Compliance Management functions for Mumbai Customs Zone-II are reallocated to Nhava Sheva IV (NS IV) Commissionerate, which will be redesignated NS IV (Compliance Management). Sections transferred include SIIB (Import), Local Risk Management, IPR Cell and Environment Protection Unit, and all officers up to Additional Commissioner handling these functions will be posted to NS IV with effect from 01.03.2024; the amendment is declared a Standing Order.

Personal Hearing final opportunity in export-drawback non-realization cases; appearance and written submissions required, virtual option available.
A final opportunity for Personal Hearing is offered in cases listed in Annexure B concerning non-realization of export proceeds and alleged ineligible drawback availed. Noticees must submit written replies to the CRU or by email and may appear physically, through a representative, or virtually; virtual attendees must provide ID and contact details in advance. Failure to represent will lead to an ex-parte decision based on available records.

Input-output norms updated for cold-finished stainless steel tubes: imported hot-finished inputs, grade match, and weight limits enforced.
Amendment to SION C-831 requires imported hot-finished/mother hollow seamless stainless-steel tubes with outside diameter not less than 65 mm as input, grade correspondence between input and exported cold-finished tubes, an export weight-per-meter cap at fifty percent of the input weight-per-meter, and a mandatory pre-import condition for duty-free licences.

Weighment of self sealed export containers required at CPP before Customs registration for non AEO exporters with high drawback or IGST refund claims.
Mandatory weighment of self sealed export containers at the Central Parking Plaza (CPP) is required prior to Customs registration for shipping bills of non AEO exporters where claimed drawback or IGST refund amounts exceed the notice's thresholds; containers must carry a CPP custodian's weighment slip to be presented during EDI shipping bill registration, and the custodian is responsible for arranging weighment to avoid delay.

GST applicability clarified: treatment of vehicle leasing, electricity reimbursements, job work for malt, DMFT exemptions and horticulture supplies.
The CBIC circular is applied mutatis mutandis under the DGST Act, 2017 to clarify GST treatment: leasing of motor vehicles without operator is excluded from "same line of business" and treated like sale of motor vehicles; electricity bundled with renting/maintenance is a composite supply taxed at the principal supply rate, while pure agent or actual reimbursement is excluded from value; job work converting barley to malt is job work in relation to food products and attracts the lower job work rate; DMFTs set up by States are Governmental Authorities eligible for exemptions; and horticulture services to CPWD with goods value not exceeding 25% are exempt under the notification.

Customs cargo service provider appointment: port authority named custodian for liquid cargo, subject to compliance review.
The Commissioner of Customs (General) appoints M/s Jawaharlal Nehru Port Authority as Custodian of imported liquid cargo unloaded at Liquid Berth LB03/04 and designates it as Customs Cargo Service Provider for that berth under the Customs Act and the Handling of Cargo in Customs Areas Regulations, 2009, subject to compliance with those statutory and regulatory provisions and to review and possible revocation by the Commissioner for failure to comply or as per Government directions.

Procedure for filing and processing Bill of Entry amendment requests: online filing, e Sanchit uploads, and approval rules.
Procedure permits importers or customs brokers to file Bill of Entry amendment requests online via the Common Portal or Service Centre and to upload supporting documents in e Sanchit. Supplementation of Bill of Lading details and additions to supporting documents are auto approved by the Customs automated system pursuant to Section 149; all other amendments require proper officer approval and are routed by the system according to whether they are filed before assessment, after assessment but before Out of Charge, or after Out of Charge, with specified requirements for document uploads and approvals.

Empanelment of Chartered Engineers for valuation of second hand machinery at JNCH; applications and documents required by 29 March 2024.
Invitation for empanelment of Chartered Engineers for appraisal, inspection and valuation of second hand, old and used machinery and capital goods at JNCH Mumbai Zone II. Applicants authorised by the Institution of Engineers (India) must apply using the prescribed proforma with supporting certificates, GST registration if applicable, experience records and an undertaking. Applications will be scrutinised, vetted for adverse records, verified by certificate issuing authorities and shortlisted candidates interviewed by a panel before empanelment and publication. Empanelled engineers must submit half yearly self appraisals; fees are payable by importers/CHAs; false information attracts penalties.

Declaration of additional customs area for M/s Triway Container Freight Station increases CFS to 31.415 acres.
The Commissioner of Customs, exercising powers under Section 8(b) of the Customs Act, 1962, declared an additional 1.57 acres of denotified area and 7.415 acres of new adjoining land as Customs Area for M/s Triway Container Freight Station Pvt. Ltd., increasing the total CFS area to 31.415 acres for handling import and export cargo; survey numbers and boundary bearings are specified and the notice is effective from 22-02-2024.

Average Export Obligation relief: EPCG Annual EO for affected product groups to be proportionately reduced.
Regional Authorities must re-fix the Annual Average EO for EPCG Authorizations for 2022-23 by proportionately reducing the Average Export Obligation where a sector/product group recorded more than a five percent decline in exports in 2022-23 versus 2021-22; reductions must be endorsed in licence files and amendment sheets. Before issuing demand notices or EODC actions for EO shortfall, RAs must consider earlier policy circulars (para 5.11.2 HBP 2009-14 and para 5.19 HBP 2015-20) and include this requirement in the EODC check-sheet. An annex lists the affected product groups.

Transparency in liquidation: liquidators must share quarterly progress reports with SCC members after confidentiality undertakings.
Liquidators must share quarterly progress reports filed under Regulation 15 with Stakeholders' Consultation Committee members after obtaining confidentiality undertakings, continue such reporting until filing the final report, seek and consider SCC suggestions when preparing the Preliminary Report under Regulation 13, and submit the final report with Form H and the process closure/dissolution order to the Board by email under powers conferred by section 196.