General insurance business treated as taxable after review: DICGC activities attract service tax under existing law.
DICGC's insurance activity falls within Section 65(105)(d) of the Finance Act, 1994 as general insurance business and is chargeable to service tax. Section 36(1)(e) of the General Insurance Business (Nationalization) Act evidences legislative treatment of DICGC as insurance business; definitions incorporated into the Finance Act apply as part of that Act. The Corporation's functions qualify as "business" in fiscal context, and statutory transactions arising from mandatory registration are to be treated as contractual, satisfying the requirement of effecting insurance contracts.

Export certificate facilitation allows frequent travelers to secure pre departure customs proof, enabling duty free re importation compliance.
Passengers frequently traveling may obtain a serially numbered, sealed Export Certificate in advance from the Assistant Commissioner of Customs (Tech), Bangalore, valid for one year and recording product, manufacturer, marks/numbers/mode and year of manufacture after inspection. Airport issuance after inspection remains available. The certificate requires a declaration that articles are private property not for sale and notes that articles must remain in the exporter's or family's ownership and be re imported within three years with customs endorsement on each departure.

Compliance of Companies Act provisions made effective, requiring implementation of prior circular on corporate compliance obligations.
The Ministry directs enforcement of compliance with the Companies Act, 1956 and rules thereunder and states that an earlier circular (No. 63/2011) on corporate compliance will be implemented from the date specified, requiring Regional Directors and Registrars of Companies to ensure observance and administrative implementation of the prior guidance.

Exemption for guaranteed public telephones confirms local-call village phones remain service-tax exempt despite corporatization.
Notification No.3/94 ST includes an exemption for Guaranteed Public Telephone operating only for local calls; Village Panchayat Telephones limited to local-call facility fall within this category, and therefore services rendered by BSNL through such VPTs remain exempt from service tax despite corporatization, with officers advised to decide pending matters accordingly.

SEZ approvals and regulatory conditions updated: co developer tax caveats, authorized operations limits, area and de notification safeguards.
The Board recorded approvals, refusals and deferrals across SEZ matters including formal and in principle approvals, co developer permissions subject to tax and lease treatment caveats, authorized operations constrained by SEZ Act and EGoM guidelines with exclusive use conditions for non processing facilities, area changes subject to contiguity and DC certification, de notifications conditioned on refund of benefits, extensions of formal approvals and LoPs with some matters deferred as sub judice, acceptance that equity transfers do not constitute sale of land subject to continuity and eligibility conditions, and grant of industrial licences for defence supplies with prescribed safeguards.

Cross-border inward remittance agents must consider FATF-identified AML/CFT risks and comply with RBI, FEMA and PMLA directives immediately.
Authorised persons under the Money Transfer Service Scheme are directed to consider an enclosed FATF Statement identifying jurisdictions with strategic AML/CFT deficiencies, to inform their constituents, obtain Principal Officer acknowledgement, integrate FATF risk considerations into cross-border inward remittance operations, and note that directions are issued under FEMA and PMLA with penal consequences for non-compliance.

Money changing activities: consider FATF jurisdictional AML/CFT risk statements and align compliance under FEMA and PMLA.
Authorised persons in money changing activities must consider the FATF Public Statement identifying jurisdictions with strategic AML/CFT deficiencies, bring the statement to their constituents' attention, have their Principal Officer acknowledge receipt, and incorporate the FATF risk considerations into compliance practices; non compliance may attract penal provisions under the Foreign Exchange Management Act, the Prevention of Money Laundering Act, and related rules.

Cross-border inward remittances: agents must apply enhanced AML/CFT scrutiny for transactions involving listed high-risk jurisdictions.
Authorised Persons under the Money Transfer Service Scheme must consider FATF-identified AML/CFT deficiencies and apply enhanced customer due diligence and risk mitigation when dealing with persons or financial institutions from listed jurisdictions, with special attention and counter-measures advised for Iran and DPRK; legitimate trade may continue but non-compliance with statutory AML and foreign exchange obligations attracts penal consequences.

AML/CFT risk advisory: enhanced due diligence urged for business with jurisdictions identified as having strategic deficiencies.
Authorised Persons must account for AML/CFT risks when dealing with persons and financial institutions from jurisdictions identified by FATF-notably Iran and DPRK, and additionally Bolivia, Cuba, Ethiopia, Kenya, Myanmar, Sri Lanka, Syria and Turkey-and apply Enhanced Due Diligence and other risk mitigation measures while not precluding legitimate trade. The advisory highlights risks from correspondent relationships, the need for effective suspicious transaction reporting, and instructs Authorised Persons to notify constituents and have Principal Officers acknowledge receipt. Directions are issued under the Foreign Exchange Management Act and the Prevention of Money Laundering Act and non-compliance may attract penal provisions.

Monetary limits on tax appeals require filing review or recall petitions as advised, despite policies limiting higher appeals.
Field officers must file either a review petition or a recall petition in the High Court as recommended by the Senior Standing Counsel; recall may be used where review time limits have lapsed. Even where the Board has decided not to pursue higher petitions for cases of small tax effect, review or recall petitions are to be filed if an appeal to the High Court was permissible under the instructions applicable at the time of the original filing.

Medical payments for visiting NRI close relatives now permitted as resident to resident payments under FEMA notification covering related services.
Resident individuals may pay medical expenses of visiting NRI/PIO close relatives (as defined in Section 6 of the Companies Act, 1956); such resident to resident payments are covered as "services related thereto" under Regulation 2(i) of Notification No. FEMA 16/RB 2000 dated May 3, 2000. Authorised Dealer banks are to notify constituents and customers. Directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to permissions required under other laws.

DEPB filing allowed for post-restoration exports; online applications accepted, earlier-period procedure pending notification by authorities.
The Trade Notice permits online filing of DEPB applications for exports of cotton yarn and cotton made on and after 04.08.2011. For cotton yarn exports from 01.04.2011 to 03.08.2011 and cotton exports from 01.10.2010 to 03.08.2011, a separate procedure is being devised with the Department of Revenue and will be notified later.

Repayment by close relatives: residents may repay loans of non resident close relatives by crediting the borrower's loan account.
Where an authorised dealer in India has granted a loan to a non resident Indian in accordance with the Borrowing and Lending in Rupees Regulations, such loans may be repaid by a resident close relative of the Non Resident Indian by crediting the borrower's loan account through the bank account of such relative.

Loans in rupees to NRI close relatives permitted subject to interest free, one year minimum maturity and specified usage and repayment conditions.
Resident individuals may lend rupee loans to NRI/PIO close relatives by crossed cheque or electronic transfer if the loan is interest-free, has a minimum one-year maturity, is credited to the borrower's NRO account, is not remitted outside India, is used only for the borrower's personal or permitted business purposes in India (excluding activities prohibited for non-resident investment), and is repaid via inward remittance, debit to NRO/NRE/FCNR accounts, or sale proceeds of pledged assets.

Rupee gifts to NRI close relatives allowed; credit to recipient NRO account subject to LRS overall limit compliance.
Resident individuals may make rupee gifts to NRI/PIO close relatives by crossed cheque or electronic transfer, with the amount credited to the recipient's NRO account as an eligible credit. Gifts must comply with the overall limit under the Liberalised Remittance Scheme and the donor is responsible for ensuring LRS limits are not exceeded. AD banks are to implement the facility pending amendments to the Deposit Regulations and FEMA notification, and the directions are issued under FEMA subject to other legal permissions.

Mandatory electronic filing of central excise returns expands required e submission and assistance obligations for assessees.
Mandatory electronic submission is imposed for prescribed Central Excise returns under amendments to the Central Excise Rules, 2002 and the CENVAT Credit Rules, 2004. Electronic filing is compulsory for returns under Rule 12(1), Rule 17, and Rule 12(2A)(a), while ER 4 and ER 5/ER 6 continue electronically where no exemption applies. The obligation applies irrespective of duty paid in the preceding financial year. Field formations must assist assessees and inform trade to facilitate adoption of the new e filing procedure.

Credit of FDI sale proceeds to NRE/FCNR(B) accounts permitted under Regulation 11; banks to implement FEMA guidance.
Sale proceeds of foreign direct investment in India may be credited to NRE/FCNR(B) accounts of NRIs/PIOs under Regulation 11 of the FEMA (Transfer or Issue of Security) Regulations, 2000; this clarifies that the facility previously reflected in Schedules 3-5-subject to purchase having been by inward remittance or from existing NRE/FCNR(B) funds and applicable taxes-will continue to apply. Authorised Dealer banks are to implement and notify customers. Directions issued under Sections 10(4) and 11(1) of the FEMA, 1999.

Joint holding of RFC/EEFC accounts with resident close relatives permitted, but joint holder cannot operate account during lifetime.
Resident individuals may include resident close relatives as joint holders in their EEFC and RFC accounts on a former or survivor basis, provided the joint holder is not permitted to operate the account during the lifetime of the resident account holder; regulatory amendments will follow and authorised banks must notify account holders, without prejudice to other legal permissions.

Gift of securities to non-resident relatives requires prior RBI approval and now permits a higher annual transfer threshold.
Transfers of securities by way of gift from residents in India to persons resident outside India require prior approval of the Reserve Bank under Regulation 10A(a) of the FEMA (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000; all other conditions of Regulation 10A(a) remain unchanged. The circular increases the applicable annual monetary ceiling for such gifts and notes that amendments to the Regulations will be issued separately, directing Authorised Dealer banks to notify their constituents.

Joint NRE/FCNR(B) accounts with resident close relatives now permitted on former-or-survivor basis, with POA operation allowed.
NRIs and PIOs may open NRE and FCNR(B) accounts jointly with a resident close relative on a former-or-survivor basis, with the resident eligible to operate the account as Power of Attorney during the NRI/PIO's lifetime; authorised banks must notify account holders and regulatory amendments to deposit regulations will be issued.