Additional excise duty accounting: new minor heads opened to record levy on pan masala and specified tobacco products.
Additional Duty of excise on pan masala and certain tobacco products, previously recorded under an interim "Receipt Awaiting Transfer" head, will be recorded under newly opened Union Excise Duty minor heads and specific account codes provided by the Controller General of Accounts; trade associations are requested to notify constituents of the new accounting arrangement.

Zero duty wheat import permitted under ad hoc exemption, subject to FCI handling, specified ports and a time limit.
Import of wheat is authorised at Zero Duty under an ad hoc exemption invoking Foreign Trade Policy powers. Imports are time limited, must be effected through the designated central procurement authority, be confined to the specified ITC (HS) commodity classification, and be landed only at the listed coastal ports subject to policy paragraph conditions.

Declaration of Customs Area expands CFS to permit handling of FCL import containers under prescribed procedures.
Declaration modifies prior public notices to include an additional 8.82 acres of specified vacant land as a Customs area for handling import FCL containers; operations in the added area must follow existing FCL procedures set out in earlier public notices and the declaration is effective from the date of issue until further orders.

Bank guarantee waiver for air cargo transhipment exempts carriers above a volume threshold from furnishing guarantees.
Airlines and other carriers with annual transhipment volume above 2500 MT to or from any airport are exempt from the requirement to furnish a bank guarantee for carriage of goods on transhipment; jurisdictional Commissioners of Customs may also, in deserving cases, grant waivers and trade is to be notified by public notice.

Examination norms for courier consignments require universal X ray screening and targeted physical checks based on risk and intelligence.
All courier consignments must undergo non intrusive screening (X ray or equivalent) for documents and cargo; physical examination of selected export/import documents, gifts, samples and goods is limited to targeted checks (maximum 10% of consignments) with those selected examined fully. Selection is risk based using parameters like nature of goods, value, weight and importer status; Commissioners may order random checks and any consignment may be fully examined on specific intelligence or X ray doubt. Standing Orders must be issued for implementation.

DEPB application requirements updated: shipping bill or bill of exports allowed and specific postal parcel documentation mandated.
Amendments require the Export Promotion copy of the Shipping Bill for DEPB applications, allow Bill of Exports for notified land customs, and mandate that Post Parcel exports submit the postal receipt plus an invoice showing Product Group and DEPB Schedule serial number, attested by Customs. The DEPB application form (Sl. No.5, subsection VC) is replaced with a detailed tabular set of fields including SB/PPR number and date, date of let export, BRC details, invoice identifiers, product group, DEPB serial, item description, FOB values, exchange rate and computed FOB in rupees.

Transferable DFIA: authorities should not insist on supporting manufacturers' registration when export obligation is fulfilled and DFIA redeemed.
For transferable DFIA redeemed after completion of the export obligation, Regional Authorities need not insist on SSI or Central Excise registration certificates of supporting manufacturers or jobbers at the time of EODC issuance or DFIA transfer; Paragraph 4.16 procedures remain mandatory only for Actual User DFIA/Advance Authorisation import cases.

Job work valuation: recommend amending manufacturer definition and valuation rules to use principal's transaction value.
The Sub Group recommends legislative and rules level changes to close valuation gaps for goods manufactured by job workers: amend Section 2(f) to include both job worker and principal manufacturer within the definition of manufacturer; expand Section 4(3)(b) to treat principal and job worker as related persons; and insert a new Rule 8A in the Valuation Rules providing that where goods manufactured for another are not sold at removal, valuation shall be the transaction value at the place/time of first sale or, if consumed, 110% of cost of production.

Dematerialisation requirement for non promoter holdings must be met before shifting securities from trade for trade to rolling settlement.
SEBI directed exchanges to shift listed securities from Trade for Trade to rolling settlement where both depository connectivities exist and the dematerialisation of non promoter holdings meets the prescribed threshold, evidenced by a certificate from the Registrar and Share Transfer Agent or, if no RTA, from a practicing Company Secretary/Chartered Accountant; exchanges must confirm absence of other grounds for continued TFTS and report actions to SEBI in the Monthly/Quarterly Development Report.

Custodian appointment for courier consignments authorises DHL to hold shipments pending customs clearance under statutory custody rules.
M/s DHL Express (India) Pvt. Ltd. is appointed custodian under Section 45(1) of the Customs Act, 1962 for its courier consignments at DHL facilities in the Air Cargo Complex, Bangalore, to hold consignments until clearance for home consumption, export or transhipment. The custodian must comply with Section 45(2) and all relevant rules, regulations and departmental instructions; the designation is extended to operate until 31/07/2008.

Amendment to Target Plus Scheme application alters duty free credit calculation and lowers the export turnover threshold.
Amendment to Appendix 17D specifies that Eligible Export for Duty Free Credit Entitlement is calculated as (Row 04 - Row 05) and reduces the export turnover threshold in Note 4(i) from ten crore rupees to five crore rupees.

Centralized CHA Directory requires PAN-based registrations and branch-specific IDs for filing, replacing old CHA numbers.
The notice implements a Centralized CHA Directory using 15 digit PAN-based registration numbers maintained by designated Policy/CHA sections; CHAs must register or update at their issuing policy section, resolve duplicate registrations by retaining one, and quote the PAN-based registration with branch extension when filing-old CHA numbers are invalid for filing from 11 September 2006; ICEGATE lists registration status and provides a helpdesk.

Jurisdictional amendment: Uttaranchal exporters may use previous licensing authorities during transition; new licensing office added.
Amendments to Appendix I establish a Deputy Director General of Foreign Trade office at Dehradun for Uttranchal, revise territorial jurisdictions of the Central Licensing Area (New Delhi) and the Moradabad licensing office, and permit exporters/importers in Uttranchal the option to file with their earlier licensing authorities for a transitional period to ensure an orderly transfer; contact details for the revised authorities are recorded and the amendment is effective on notification.

Timely disposal of statutory form applications: units must log and issue receipts, resolve deficiencies or refer pending cases.
Applications for statutory forms must be received by operational units by early afternoon, acknowledged with a receipt, and entered in a prescribed Form Issue Register. The Record Keeper forwards the file to the Ward Officer for decision; deficiencies are notified via a Deficiency Memo to the dealer's representative and must be rectified within a short prescribed period or the application may be rejected. Undisposed applications must be reported daily to the Zonal Officer, who will issue disposal instructions; weekly review of pending cases is required.

Mode of payment for NRI/PIO property purchase: only inward remittance or non resident account funds permitted.
The Mode of Payment for acquisition of immovable property by Indian citizens resident outside India and Persons of Indian Origin is limited to funds received in India through normal banking channels by inward remittance from abroad, or funds held in any non-resident account maintained under FEMA and RBI regulations; payments by traveller's cheques, foreign currency notes or other modes are not permitted.

Large Taxpayer Unit single-window facilitation allows eligible large taxpayers to centralise filing and assessment of excise, income and service taxes.
A Large Taxpayer Unit (LTU) at Bangalore will function as a single-window tax administration for large PAN-based taxpayers, centralising filing and assessment of central excise, income/corporate tax and service tax, and providing services for payments, returns, refunds and dispute settlement. Eligible entities assessed to income/corporate tax in one of five designated cities and meeting prescribed high-turnover thresholds may opt into the LTU scheme; the Bangalore LTU is functional from 1-10-2006 at the stated office address and affected assessees will be notified separately.

Capital protection oriented scheme: portfolio based protection requires rating, disclosure, close ended structure and no pre maturity repurchases.
Capital protection oriented schemes must be designated and disclosed as oriented to capital protection but not guaranteeing returns, with protection arising from portfolio structure rather than external guarantees. The proposed portfolio must be rated by a SEBI registered credit rating agency, reviewed quarterly, with trustees and the AMC reporting on portfolio structure in half yearly and bi monthly reports respectively, the debt component carrying highest investment grade, schemes being close ended, and no repurchases before maturity.

SSI exemption for non-BIS water pumps extended; manufacturers must obtain BIS certification to retain exemption thereafter.
Extension of the SSI exemption for power driven pumps designed to handle water has been made conditional on obtaining BIS certification by the end of 2006; from 1-1-2007 pumps not conforming to BIS will not be eligible. Authorities are instructed to notify associations and small scale manufacturers, advise them to secure BIS certification within the extended period, assist units facing difficulties, and liaise with BIS to expedite applications.

Re-export of defective imports permitted subject to port, time, identity and unused conditions; customs certificate enables fresh scrip issuance.
Re-export of goods imported under SFIS and VKGUY that are defective or unfit for use may be permitted by Customs if re-export occurs from the same port within six months, the goods remain unused and identity is verified by the Deputy/Assistant Commissioner. Upon re-export, Customs will issue a Certificate documenting the original scrip and particulars of the goods and recognising 98% of the credit amount debited; the Regional Authority will then issue a fresh SFIS/VKGUY scrip for 98% of the credit, with validity equal to the remaining period on the original scrip.

Special additional duty of Customs (CVD) applied under Duty Free Credit Entitlement after ministry circular modification and trade notice.
Levy of a special additional duty of Customs (CVD) is declared applicable under the Duty Free Credit Entitlement (DFCE) scheme, following Public Notice No. 40/2006 and Ministry Circular No. 18/2006-Cus, as partially modified by Ministry Circular No. 20/2006-Cus; the modified circular is enclosed for guidance and importers, exporters, CHAs and trade members are directed to note the change and report implementation difficulties to the Commissioner of Customs (Exports).