E-payment of customs duty now mandatory for high-value transactions and accredited clients, via ICEGATE and designated banks.
E-payment of Customs duty is mandated for importers paying one lakh rupees or more per transaction and for Accredited Clients regardless of amount; payments must be made via the Customs E-Payment Gateway (CEG) on ICEGATE through designated authorised banks. Registered ICEGATE users log in to view unpaid challans; unregistered users may pay by entering the importer's IE Code. On successful bank payment a cyber receipt is issued and ICEGATE transmits payment particulars to ICES so the Bill of Entry moves to the examination queue. A VERIFY option and a 24-hour helpdesk are available for incomplete transactions.

Self-assessment of customs duty shifts assessment to importers/exporters while preserving customs' power to verify and re-assess.
Self-assessment requires importers/exporters to declare correct classification, value, duty rate and exemptions by electronically filing Bills of Entry or Shipping Bills, with customs empowered to verify selectively via the Risk Management System and to re-assess or provisionally assess (on security) where necessary; manual filing and provisional assessment are permitted only in genuine, exceptional cases, and on-site post-clearance audits may verify declarations at traders' premises.

Condonation of delay in filing statutory documents enables filing with surcharge and grant of immunity from prosecution.
The Company Law Settlement Scheme, 2011 permits defaulting companies to file belated Balance Sheets and Annual Returns due up to 30 6 2011, pay statutory filing fees plus an additional surcharge on the standard additional fee under section 611(2), and, upon withdrawal of any appeals and filing of required electronic applications, obtain an immunity certificate from the designated Registrar who may withdraw pending prosecutions; the Scheme excludes specified forms and companies subject to action under subsection (5) of section 560 and allows immunity applications after closure within a six month window.

Online transmission of export authorizations now requires EDI filing and online customs communication for the specified port.
Addition of Air Cargo Complex, Cochin (LOCODE INCOK4) to ICES locations makes DEPB applications for shipping bills from this port mandatory in EDI mode, and requires that Regional Authority issuances of DES (Advance Authorization), EPCG and DEPB for this port be communicated to Customs on-line.

Port of Registration inclusion enables ICD Merripalem to access export promotion benefits under Handbook provisions.
Inclusion of ICD Merripalem as a Port of Registration under Para 4.19 of the Handbook of Procedures (Vol. I) amends the export procedure framework by adding the Inland Container Depot to the list of eligible registration ports, enabling exporters using ICD Merripalem to avail export promotion benefits under the Handbook.

DEPB benefit reinstatement: cotton exports now eligible under Miscellaneous product group entry, restoring export entitlement.
The Director General of Foreign Trade amends the Schedule of DEPB Rates to include cotton under Sl. No. 22D of the Product Group 'Miscellaneous', making cotton exports eligible for DEPB benefit for exports made on or after 01.10.2010, thereby restoring the entitlement that had been previously withdrawn.

DEPB benefit restored for cotton yarn exports; entitlement applies to shipments on or after the effective date.
The Director General of Foreign Trade has added 'Cotton yarn including Melange yarn' to the Schedule of DEPB Rates at DEPB entry Sl. No. 78 in the Product Group "Textiles", restoring DEPB benefit and making exports of that product eligible for DEPB credit for shipments on or after the effective date stated in the notice.

Tariff Rate Quota increase for skimmed and whole milk powder expands import entitlement under FTP with immediate effect.
The Directorate General of Foreign Trade amended the List under Para 2.59 of the Handbook of Procedures and the Foreign Trade Policy to increase the import quota for skimmed and whole milk powder classified under the tariff codes for milk powder; the change raises the permitted import quantity under the Tariff Rate Quota Scheme and is effective immediately.

Legal metrology requirement: importers and exporters must declare measurements in approved metric units on customs documents.
The amendment substitutes the Standards of Weights & Measures Act, 1976 with the Legal Metrology Act, 2009 effective 1 August 2011 and requires importers, exporters and Customs House Agents to declare measurements (weight, volume, length or area) in Bills of Entry and Shipping Bills only in units approved under the Legal Metrology Act, 2009; earlier public notices referring to the previous Act stand amended as applicable.

Shelf life condition exemption for re imported perishable food allows relabelling and re export subject to specified safeguards.
The DGFT states that the shelf life 60% condition in Para 13 of Chapter 1A of ITC(HS) does not apply to re imports of perishable edible/food products under the Foreign Trade Policy re import provision when the goods are re imported for export purposes, provided they meet phytosanitary requirements, the importer undertakes they will not be sold domestically, and the importer submits a certificate to Customs confirming re export.

Delayed payment charges excluded from taxable value when separately billed; otherwise service tax applies to gross amount charged.
Delayed payment charges imposed for late payments are penal in nature and do not form part of the consideration for taxable services, and thus are not includible in taxable value. However, service tax is chargeable on the gross amount charged, so if invoices or account statements do not show delayed payment charges separately, the tax must be applied to the entire gross amount; these charges are excluded from taxable value only when separately indicated in billing documentation.

Prohibition on carrying rice in passenger baggage to the USA bans non commercial rice consignments and mail.
Phytosanitary regulations prohibit non-commercial rice consignments from pest affected countries and bar rice carried in passenger baggage or sent by mail to the United States; air passengers must not carry rice and Commissioners of Customs are to issue public notices and advisories to staff, trade and passengers to ensure compliance.

Prior approval for change in control required for regulated intermediaries; single window SEBI application streamlines multi registration approval process.
Prior approval from SEBI is required for change in control of specified intermediaries (excluding Sub-brokers) and, where an applicant holds multiple registrations, a single application must be made to MIRSD SEBI with disclosures about the applicant and acquirer, regulatory history, investor complaints, litigation, fees paid, commitment to honour past liabilities, and board incumbency; registered stock brokers and depository participants must also obtain approvals/NOCs from relevant stock exchanges and depositories and forward self attested copies to SEBI.

Investor complaints processing must occur through a centralized electronic SCORES system, requiring online ATR submission and officer registration.
SEBI mandates exclusive electronic processing of complaints through the centralized SCORES system, which provides a central complaints database, online routing to intermediaries, online upload of Action Taken Reports with supporting documents, and investor access to complaint status; physical ATRs for SCORES complaints will not be accepted or permit status updates. Intermediaries must register a Compliance Officer (name and email) to receive SCORES credentials and will receive daily alerts on pending complaints.

Line of Credit establishes export financing with Indian content and LC/disbursement timelines under foreign exchange rules.
Exim Bank extended a Line of Credit to Guyana to finance eligible Indian exports for fixed and mobile irrigation pumps, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non consultancy goods/services to be sourced abroad. The Credit Agreement is effective from July 19, 2011 and sets LC and disbursement windows (48 months from project completion for projects; 72 months from execution for supplies). Shipments must be declared on GR/SDF forms; no agency commission is payable under the LOC though exporters may remit commission from own funds or EEFC balances after realization.

Administrative appointment assigns additional charge to DGIT for CCIT functions until further orders in departmental administration.
Shri K. Madhavan Nair is appointed as a Member of the Central Board of Direct Taxes and, consequently, Shri B.T. Luckose, DGIT(Inv.), Kochi, is directed to hold the additional charge of the Chief Commissioner of Income Tax, Kochi, with immediate effect and until further orders to secure continuity of departmental functions.

Close-ended debt mutual funds may disclose credit policy, excluded sectors, instruments, and allocation bands; final portfolio must match publicized allocation.
SEBI permits specified additional disclosures for close-ended debt oriented schemes: disclose credit evaluation policy, sectors excluded, instrument types (e.g., CPs, CDs, Treasury bills), and allocation floors and ceilings within a 5% range of intended allocation by sub-asset class/credit rating. After NFO closure the AMC must report the publicized allocation and the final portfolio to the AMC and Trustees; variations between the indicative allocation and the final portfolio are not permissible.

Classification of chlorinated paraffins: liquid forms under chemical tariff heading; wax forms under manufactured waxes tariff heading.
Liquid chlorinated paraffins are classifiable under the chemical/tariff heading for chlorinated organic chemical preparations in accordance with HSN Explanatory Note (B)(9). Solid chlorinated paraffin waxes are classifiable as artificial/manufactured waxes under the tariff heading for waxes following the deletion of a prior specific subheading, and trade and field formations should apply these classifications.

Subscription access to customs daily import export lists extended; demand draft payment only, data delivered by email or post.
Extension of subscription access to the Daily List of Imports and Exports for Bangalore Customs for 2011-12 on monthly, half yearly or annual terms; payment must be made by Demand Draft/Pay Order in favour of the Commissioner of Customs and sent to the Deputy Commissioner (Preventive). Subscriptions are non refundable, subscribers must state intended use of data, and outstation delivery is by e mail or registered/speed post. The notice enumerates import and export data fields to be supplied and notes such fields may change with ICES Version 1.5 updates.

Verification requirement: company management must submit information certified by chartered accountants, company secretaries or cost accountants.
The corrigendum amends paragraph (c) of General Circular No. 54/2011 to require that the Official Liquidator file an application asking the Court to direct company management to submit specified information duly verified by a Chartered Accountant, a Company Secretary, or a Cost Accountant in practice; all other clauses of the Circular remain unaltered.