Standardized IPO application form mandates a single ASBA/non ASBA booklet with uniform fields, serialisation and disclosure.
SEBI mandates a single standardized Application Cum Bidding Form for ASBA and non ASBA applicants in A4 booklet format, with prescribed color coding by investor/repatriation status, mandatory eight digit serial application numbers with date/time stamping, and strict prohibition on altering spacing or data fields. The circular lists required data fields (PAN, single 16 digit depository account field, investor category/status, bid options with bid price/discount/net price, payment options including ASBA authorizations), signature and stamping rules, acknowledgement slips, and bid revision mechanics; it applies to RHPs/prospectuses filed on or after the specified effective date and is issued under SEBI's statutory powers.

External Commercial Borrowings in Renminbi allowed for infrastructure companies under approval route, subject to annual cap and conditions.
Indian infrastructure companies are permitted to raise External Commercial Borrowings (ECB) in Renminbi (RMB) under the approval route subject to an annual cap and review. Reserve Bank approvals are valid for three months; the loan agreement must be executed within that period and Form 83 filed for Loan Registration Number within seven days of signing or approval will be cancelled. Designated AD Category I banks may open RMB Nostro accounts, must monitor end use, cannot provide guarantees, and all other ECB conditions and reporting requirements remain unchanged.

Tax deduction at source conflicts: refund procedure extended where treaty rate exceeds domestic rate, enabling relief for excess withholding.
The Board extends the refund procedure in Circular No. 7/2007 to cases where tax has been deducted at a higher rate under a Double Taxation Avoidance Agreement than the lower rate prescribed under domestic law, recognizing the genuine hardship to the resident deductor and modifying the earlier Circular to cover such treaty-rate withholdings.

Duty drawback rate revision: revised AIR framework updates input-duty calculations and integrates DEPB items affecting export drawback claims.
Revised All Industry Rates of Duty Drawback for 2011-12 are effective from October first, incorporating input prices, SION, import shares, FOB values, applied duty rates, diesel/furnace oil duty incidence and service tax on input services; DEPB items have been integrated into the drawback schedule with transitional rate adjustments and specific classification and retrospective application clarifications for selected tariff entries.

MCA21 NEFT payments allow SRN generation, fund transfer to designated accounts, and UTN-SRN linking for fee processing.
NEFT is authorised for MCA21 fee payments: user uploads eForm, selects NEFT, generates SRN/eChallan, executes an NEFT transfer to designated MCA21 accounts and obtains a UTN; banks notify MCA21 in several hours and the user must link UTN and SRN in MCA21 by providing originating account number and amount, after which MCA21 verifies and creates work items. Separate SRNs and separate transfers/accounts are required for stamp duty; SRNs can expire and payments must be made in a single transaction.

ECB liability-equity ratio now measures proposed and outstanding ECB against broadened equity for lender eligibility under ECB rules.
The metric for assessing ECBs from foreign equity holders is revised: the ECB liability-equity ratio replaces the debt-equity concept, counting proposed plus outstanding ECB from the same foreign equity lender as liabilities, and treating equity as paid-up capital together with free reserves and foreign currency share premium per the latest audited balance sheet (with lender-specific share premium considered where multiple foreign equity holders exist). Approval-route permissions are extended to additional service sector units, indirect equity holders meeting a controlling threshold, and group companies where borrower and lender share a parent, subject to aggregate ECB limits relative to equity.

External Commercial Borrowings policy now allows foreign equity holders to provide credit enhancement under the automatic route.
Direct foreign equity holders with at least 25% holding and indirect foreign equity holders holding at least 51% of paid-up capital may provide credit enhancement to Indian infrastructure companies and Infrastructure Finance Companies under the External Commercial Borrowings framework; such credit enhancement by eligible non-resident entities is permitted on the automatic route with no prior Reserve Bank approval, while all other terms and conditions of the earlier circular remain unchanged and the amendment is effective immediately.

Service tax on cross-border services arises from enactment-based commencement, making liability effective from the statute's commencement.
Service tax on taxable services provided by non-residents or persons located outside India to recipients in India is chargeable under the reverse charge mechanism only from the date when the statutory provision bringing such services within tax came into force; the Board accepts this position and has rescinded the earlier instruction that directed defence of levy from an earlier date, directing appropriate action in pending disputes.

Mandatory e filing of service tax returns via ACES requires online registration, validated uploads, and interim non-requirement of digital signatures.
Mandatory electronic filing of half-yearly service tax returns is required through the ACES platform. Users must complete online "Registration with ACES" to obtain a permanent User ID and system credentials; existing assessees receive activation details and non-assessee registrations are available for specified transaction purposes. Returns may be filed online or via an offline utility uploaded to ACES, where returns undergo validation and receive statuses such as "uploaded," "filed," or "rejected." Digital signature support exists but will not be activated initially; Customer Facilitation Centres and a service desk are available for assistance.

Takeover Regulations update requires amended listing disclosures and prescribed formats for takeover filings and public offers.
Notification of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and consequential amendments to Clause 35 of the Equity Listing Agreement require stock exchanges to adopt revised disclosure tables for Promoter/Promoter Group and public shareholdings (including treatment of warrants, convertible securities and encumbrances) and to use prescribed standardized formats for takeover related intimations, reports, public announcements, letters of offer, offer period disclosures and annual/encumbrance disclosures listed in the circular.

Mandatory e-filing of central excise returns required; electronic ACES registration and filing procedures prescribed for all assessees.
Mandatory electronic filing of prescribed Central Excise returns is instituted through ACES from 1 October 2011, covering ER 1, ER 2, ER 3, ER 4 (unless exempt), ER 5 and ER 6 (where not exempt), ER 7, and ER 8 for specified exemption beneficiaries. Users must register with ACES (new, existing, non assessee procedures outlined), obtain permanent user IDs and credentials, complete statutory registration forms with jurisdictional offices, and file returns either online or via offline utilities that perform validations; ACES validates uploads and provides status tracking. Digital signatures are initially not required; Customer Facilitation Centres and a service desk are available for assistance.

Validation of Show Cause Notices restores retrospective proper officer status but limits adjudication by intelligence units.
Amendment to Section 28 of the Customs Act retrospectively deems officers appointed under sub section (1) of section 4 to have always had the power of assessment under Section 17 and to have been the proper officers, thereby validating Show Cause Notices issued prior to the administrative notification. Officers of designated intelligence formations are administratively assigned proper officer functions but are directed not to exercise adjudicatory authority under clause (8) of Section 28; an earlier instruction to reissue certain notices is withdrawn and pending matters are to follow the amended statutory position.

Removal of export ban on onions: exports now permitted subject to minimum export price and continued monitoring by authorities.
DGFT amended the prohibition and lifted the ban on onion exports with immediate effect; exports are permitted subject to a Minimum Export Price of $475 per metric tonne or as notified by DGFT, and customs field formations must strictly monitor compliance with the notification while continuing to submit the reports previously prescribed.

External Commercial Borrowings reform expands automatic-route access and permits INR-designated ECBs with specified end-use conditions.
The circular expands automatic-route access for External Commercial Borrowings, permits INR-designated ECBs from overseas equity holders and continues INR-designated ECB access for microfinance NGOs; it recognises Interest During Construction as a permissible end-use for infrastructure companies provided IDC is capitalised and part of project cost, while other ECB parameters and reporting arrangements remain unchanged.

Bridge finance for infrastructure: short term import credit must be replaced by compliant long term ECB with prior RBI approval.
Bridge finance in the form of short term credit for import of capital goods by infrastructure companies is permitted under the approval route, provided the bridge finance is replaced by a long term ECB complying with all extant ECB norms and with prior Reserve Bank approval. Designated AD Category I banks must monitor end use and verify imports via Bill of Entry; Indian banks may not provide guarantees. All other ECB conditions and reporting obligations remain unchanged.

External Commercial Borrowings for infrastructure allowed to refinance domestic rupee capital loans under specified conditions and monitoring.
ECB policy for the infrastructure sector permits a specified portion of fresh ECB proceeds to refinance outstanding Rupee term loans taken for capital expenditure on earlier completed infrastructure projects, under the approval route and subject to conditions: a majority of proceeds must fund capital expenditure for new infrastructure projects; refinance is limited to Rupee loans for capital expenditure and to loans outstanding with the financing bank; applications via Authorised Dealer Category I banks must include project and auditor certifications and AD confirmation of outstanding Rupee loans; AD banks shall monitor end use and domestic banks may not provide guarantees.

Forum for valuation appeals must be chosen correctly to prevent jurisdictional dismissal and limitation bar.
Appeals on the rate of duty or value of goods must be filed in the Supreme Court where statutorily required; filing in High Courts has produced jurisdictional dismissals and subsequent limitation-barred dismissals. Commissioners must examine the dispute carefully, secure Chief Commissioner concurrence on forum selection, and ensure field formations file appeals in the correct forum to prevent loss through incorrect forum or limitation.

Tariff rate quota allocation permits export of raw sugar to USA subject to delivery and certification requirements.
A total quantity of 5,175 MTs of Raw Sugar (98 degree Pol) is allocated for export to the USA under the Tariff Rate Quota through M/s. Indian Sugar Exim Corporation Ltd, and is subject to existing procedural and certification requirements for preferential sugar exports to the USA, including issuance of the GSP certificate. Exports under this allocation must be completed by 31.10.2011.

All Industry Rates of Duty Drawback updated, incorporating DEPB items and setting revised eligibility and classification rules.
Revised All Industry Rates of Duty Drawback for 2011-12 are effective 1 October 2011 and incorporate DEPB items into the drawback schedule. Rates reflect input prices, SION, import share, FOB export values, applied duties, duty on HSD/Furnace Oil and service tax on input services; exporters must not claim duplicate refunds. Transitional modest reductions apply to DEPB items, no value cap where composite rate is 3% (with exceptions for wide price variation), and field formations must report classification doubts. Clarifications include Cenvat eligibility, specific tariff item rates, FIBC classification, and prioritised processing of DEPB consignments with LEO up to 30 September 2011.

Foreign hospitality restrictions require prior government permission for specified officeholders and designated persons before accepting benefits abroad.
Acceptance of foreign hospitality under FCRA, 2010 requires prior permission from the Central Government for members of legislatures, political-party office-bearers, judges, government servants and employees of government-owned or -controlled bodies, with emergent medical aid as a limited exception subject to intimation. Rule 7 mandates application in Form FC 2 (with invitation and administrative clearance where relevant), ordinarily two weeks before travel; emergent medical hospitality must be intimated within sixty days. Permission under FCRA does not replace separate administrative clearance; responsibility for compliance rests with the person accepting hospitality.