Focus Product Scheme eligibility expanded to specified auto and asbestos products for designated export markets.
Amendment adds a set of automotive and asbestos products to Appendix 37D under the Focus Product Scheme, supplying ITC(HS) commodity codes and designated linked export markets; consignments of these products to the specified markets are eligible for benefits under the export incentive provision of the Foreign Trade Policy from the policy's effective export date.

Market Linked Focus Products designation expands to specific motor vehicle categories, enabling export benefits under trade policy.
Amendment adds specific automotive products to the Market Linked Focus Products list in Appendix 37D, specifying motor cars, chassis and motorcycles by ITC(HS) codes and linked export markets, and states that these product market combinations are eligible for benefits under the Focus Product Scheme as provided in the Foreign Trade Policy.

Import ban on dairy products from China imposed; transitional import relaxations suspended and customs instructed to enforce.
An immediate import prohibition on dairy products, including milk and milk products from China has been added to the ITC(HS) Schedule for Chapter 4; transitional arrangements under the Foreign Trade Policy are expressly not permitted for such imports during the prohibition period, and customs authorities are instructed to enforce the prohibition in conjunction with a food-safety advisory on contamination risks.

Jurisdiction of appeals reassigned to Joint Commissioner B.L. Sharma; Internal Audit oversight added without extra remuneration.
Jurisdiction of Appeals for Zone III, Zone IV and Zone V is entrusted to Joint Commissioner B.L. Sharma, who shall look after appeals for those zones. Joint Commissioner Manjit Rai Arora is assigned oversight of the Internal Audit Branch in addition to his existing duties. Both reassignments are to be executed without additional remuneration and were issued with the prior approval of the Commissioner, Trade & Taxes.

Due date extension for tax audit reports and income-tax returns in Jammu and Kashmir following law-and-order disruption.
The administrative order under Section 119 extends the due date for obtaining tax audit reports under Section 44AB and for filing income-tax returns for assessees in Jammu & Kashmir, shifting the statutory filing deadline to a later prescribed date as relief for disruption caused by law-and-order problems.

Served from India Scheme frequency rules revised, allowing periodic ANF 3H filings and setting specific SFIS filing deadlines.
Amendments to HBP Vol.1 require a single ANF 3B application for FX of 2007-08 and, for FX in 2008-09, ANF 3H filings at an applicant chosen monthly/quarterly/half yearly/annual frequency (elected with the first application) with on time filing up to 12 months from the end of the relevant period or the fiscal cut off. SFIS deadlines are set (previous year cut off 31 December 2008; current year within six months of the application period end). ANF 3H prescribes detailed applicant data, itemised FX reporting under Para 9.53, entitlement calculation, declarations, and mandatory CA/ICWA/CS certification.

Standard Input Output Norms revised for specified glycol solvent exports, updating permitted input compositions and deleting duplicate entry.
DGFT Public Notice dated 23.9.2008 amends Handbook of Procedures (V2) 2004-2009 by adding new SION entries A-3633, A-3634 and A-3635, revising SION A-3303, and deleting duplicate SION A-3447. Annexure A specifies, for each listed export product, the unit export quantity and the permitted input items with their exact input quantities per unit of export product, thereby prescribing the input output norms to be applied by exporters.

Export town designation expanded to include a new centre for soya meal and soya products, updating the Handbook of Procedures.
The notification inserts a new entry in Appendix 7 of the Handbook of Procedures (Vol. I) adding a town as a Town of Export Excellence for the product category of soya meal and soya products, formalising the amendment as a public notice and recording administrative file references.

Foreign Currency Exchangeable Bonds allow overseas subscription and exchange into listed shares subject to RBI approval and end use limits.
The scheme permits Indian promoter group companies to issue Foreign Currency Exchangeable Bonds to non residents, exchangeable into equity of a listed Offered Company; issuers must hold the offered shares and meet FDI and market eligibility, subscribers must comply with FDI caps and approvals, proceeds may fund overseas investments or promoter group companies (subject to ECB end use restrictions and prohibitions on Indian capital market or real estate use), pricing follows specified averaging floors, minimum five year maturity, physical share delivery on exchange, and prior RBI approval and ECB reporting are required.

E-Auction of seized goods now hosted on central MSTC portal; bidders must register to participate.
E-Auction of seized, confiscated and time-expired bond goods will be conducted through the Central Portal of a designated government undertaking; the Custom House has discontinued its own e auction system and directs interested bidders, including importers, exporters and Customs House Agents, to register on the central portal and participate in auctions on behalf of the Custom House.

E-filing requirement clarified: agents of non-residents exempted from mandatory electronic return filing due to software and representation constraints.
The Board confirmed that mandatory electronic filing for the specified assessment year applies to firms and companies as per the revised return forms and e-filing rules, but, due to software limitations and multiple-agent representation scenarios, agents acting as representative assessee for non-residents are not required to electronically furnish the returns of non-residents for that assessment year.

External Commercial Borrowings policy liberalisation increases rupee-expenditure limit for infrastructure borrowers, imposing longer maturity and higher cost ceilings.
The circular liberalises External Commercial Borrowings by increasing the rupee-expenditure ceiling for infrastructure borrowers under the Approval Route and requiring a longer minimum average maturity for amounts exceeding the prior sub-limit. It also raises the all-in-cost ceiling for the longest maturity category while keeping other maturity ceilings and other ECB framework provisions unchanged; amendments take immediate effect and regulatory changes to the Foreign Exchange Management Regulations will follow.

Interest rate cap on NRE deposits ties fresh term deposit rates to LIBOR/SWAP plus a fixed margin.
Interest rates on fresh Non-Resident (External) Rupee (NRE) term deposits for one to three years' maturity shall not exceed the LIBOR/SWAP rates for corresponding US dollar maturities plus fifty basis points, as on the last working day of the previous month; the three year rate applies to maturities exceeding three years and to renewals, with other NRI deposit terms unchanged.

Work allocation for tax appellate representation assigns senior representatives to high value, search related and special bench appeals.
Allocation of representation distinguishes matters to be argued by CIT (DRs) - including core search/block assessment appeals, appeals before special or third member benches, appeals under section 263, scam related matters and other high value appeals - from those to be handled by Sr. DRs. The CCIT may reassign cases for administrative reasons. Both CIT (DRs) and Sr. DRs must submit monthly performance reports in the prescribed proformas detailing categories of cases represented and adjournments sought.

Interest rate ceiling on FCNR(B) deposits set against LIBOR/SWAP with a reduced margin and six month reset for floating rates.
Interest on FCNR (B) deposits with AD Category-I UCBs shall be payable within a ceiling equal to the applicable LIBOR/SWAP benchmark rate minus a reduced margin; floating rate deposits are capped against the applicable SWAP rate minus the same margin, with interest resets every six months. All other terms and conditions of FCNR (B) deposits remain unchanged.

Excess landed cargo: unmanifested imports are liable for confiscation and must be recorded, investigated, and disposed.
Excess landed cargo-goods unloaded without entry in the Import General Manifest-is liable for confiscation under 111(f) of the Customs Act. Custodians and airline representatives must record such items in a Segregation Report; the I.F.O. will maintain a register and capture data in EDI. Airlines seeking IGM amendments must apply to the Assistant Commissioner (Import Noting), who may require adjudication for major amendments. If unsatisfied, the Assistant Commissioner shall designate goods as excess, notify AC(CIU) for investigation and seizure, and ensure referral of details for confiscation and disposal; custodians must submit monthly lists to AC/CIU.

Extension of filing deadline for income-tax returns after law and order disruption, via administrative order for affected taxpayers.
An administrative order under section 119 authorized an extension of the due date for filing income tax returns-postponing returns otherwise due at the end of July to a later date in September-for income tax assessees affected by law and order disruption, thereby suspending the original filing deadline and related procedural consequences for that class of taxpayers.

Extension of tax-filing deadline for affected Bihar assessees after floods, covers audit reports and income returns.
The Central Board of Direct Taxes, exercising administrative powers under the income tax statute, extended the due date for obtaining tax audit reports required under the audit provisions and for filing income tax returns that were otherwise scheduled to fall on the statutory deadline for income tax assessees in the State of Bihar, in view of flood-related disruption.

Additional duty credit scrip entitlement extended to specified cucumber and gherkin exports, effective from the stated export date.
Amendment to Appendix 37A (Table 13, Flower, Fruit & Vegetables) adds specified cucumber and gherkin products to VKGUY; exports made with effect from 1 April 2008 are made eligible for an additional duty credit scrip entitlement over and above normal VKGUY benefits, and a corrigendum clarifies the corrected serial numbers and VKGUY product codes for the new entries.

Back to town procedure: cargo may be returned after cargo examination confirms conformity, enabling LEO cancellation and shipping bill amendment.
Procedure permits exporters/CHAs to seek Back to Town (BTT) for full consignments either before or after LEO and either from CFS or from port provided the cargo is examined and found to conform with the shipping bill (description, RITC, quantity and value). AC/Exports may permit BTT on paper, record examining officer observations in EDI, cancel LEO per prescribed procedure when examination confirms declaration, and then cancel or amend the shipping bill in ICES; prior ADC/JC approval is not required.