Sample forwarding to designated outside laboratories: direct transmission allowed, subject to prescribed sampling and procedural requirements.
Samples for testing of specified items may be forwarded directly by Customs field formations to designated outside laboratories as listed in the circular's annexure; field formations must follow the procedure in Para (3) and adhere to sampling instructions issued by the Commissionerate when dispatching samples.

Mutual fund scheme performance must be benchmarked to Total Return Index; use composite CAGR where TRI is unavailable.
Performance benchmarks for mutual fund schemes must be aligned with the scheme's investment objective and measured using the Total Return Index (TRI). If TRI data do not cover the entire history of a scheme, funds must compute a composite CAGR combining PRI values for the earlier period and TRI values thereafter, using the prescribed formula and disclosing the date ranges used. This requirement applies to all schemes from February 1, 2018.

Transporter recordkeeping obligations require production of transport and storage records on demand, permitting inspections and penalties.
Transporters, whether registered or not, must maintain records of goods transported, delivered, and stored in transit, including the GSTINs of registered consignors and consignees, and ensure stored goods are identifiable item wise and owner wise. Carriers of registered persons must keep true records and produce them on demand. Authorized officers have powers to inspect transporter premises and enforce compliance; other authorities must assist state tax officers. Failure to maintain or furnish records attracts statutory penalty, and obstructing officers is a punishable offence with enhanced penalty for repeat conviction.

GST valuation for accommodation, casino betting and horse racing applies transaction-value principles, with reverse charge for advocate services.
GST on accommodation is charged on the actual amount received, while declared tariff determines the applicable rate slab. Casino entry and gambling are separate taxable supplies, with gambling and horse-racing GST calculated on total bet value. Below-threshold accommodation providers using electronic commerce operators need not register where the operator pays GST. Sale of books is a supply of goods where the supplier owns and may sell them on its own account. Legal services supplied by advocates to business entities are taxable under reverse charge, payable by the recipient.

GST on betting and accommodation: gross transaction value taxed for casino entry, bets and actual accommodation charges.
Declared tariff determines the applicable tax slab but GST is payable on the actual amount charged for accommodation; declared tariff is the highest published rate and the tariff for the season or at time of supply applies. Casino entry and gambling (including horse racing) are taxed on the gross transaction value, with GST leviable on admission fees and on the total bet value. Legal services to business entities attract GST under reverse charge, with the recipient liable to pay.

Refinancing of external commercial borrowings: overseas bank branches may refinance eligible corporates and PSUs subject to specified conditions.
Overseas branches and subsidiaries of Indian banks may refinance External Commercial Borrowings of highly rated corporates and Navratna/Maharatna PSUs provided the outstanding maturity is not reduced and the all-in-cost of the fresh ECB is lower than the existing ECB; partial refinancing is permitted on the same conditions. Other ECB policy provisions remain unchanged and the Master Direction will be updated accordingly.

Foreign investment framework under FEMA sets entry routes, sectoral caps, pricing rules, and transfer conditions for non-resident investors.
Foreign investment in India is regulated under FEMA and the Non-Debt Instruments framework, with the Reserve Bank administering the rules through directions to authorised dealers and related reporting and payment requirements. The direction consolidates the legal meaning of foreign investment, foreign direct investment, foreign portfolio investment, investment vehicles, LLP investment, downstream investment, non-repatriation holdings, pricing, valuation, and transfer mechanics, while making the underlying NDI Rules and other FEMA notifications prevail in case of inconsistency. It also sets out prohibited sectors, Government-route restrictions for specified ownership patterns, and the permitted routes, instruments and transfer mechanisms for non-resident investors.

Delegation of recovery powers to Assistant Commissioner enables initiation of recovery under Customs Act and Finance Act.
The Commissioner of GST & Central Excise, Aurangabad delegated authority to the Assistant Commissioner, Tax Recovery Cell to initiate recovery proceedings for Central Excise arrears under the Customs Act and for Service Tax arrears under the Finance Act, to expedite arrears collection within the GST & Central Excise office in Aurangabad.

Transaction charge parity required: exchanges must cap fee differentials within turnover slabs to ensure uniformity and transparency.
The circular substitutes a provision requiring exchanges to ensure that the ratio between highest to lowest transaction charges in the turnover slab of any contract is not more than 2:1, standardising fee differentials. Exchanges must amend relevant bye-laws, notify members, and publish the provision on their websites, with implementation from the specified commencement period; the directive is issued under the regulator's powers to protect investors and regulate the market.

All Industry Rates of Duty Drawback amended with enhanced rates for select goods and reclassification for polypropylene mats.
Amendments adjust the All Industry Rates of Duty Drawback effective from 25.01.2018, increasing rates/caps for specified marine products, selected rubber articles, leather goods, wool yarns and fabrics, glass handicrafts, bicycles, and certain man made textile nets; reducing rates/caps for specified chemicals; and deleting tariff item 391802 so polypropylene mats are reclassified under tariff item 460101 with the existing rate/cap.

Outsourcing prohibition by insolvency professionals bans requiring third-party eligibility certificates for resolution applicants under the Code.
An insolvency professional is prohibited from outsourcing statutory duties under the Code; engaging assistants is permitted for support but does not transfer responsibility, and an insolvency professional shall not require third party certificates certifying a resolution applicant's eligibility.

Insolvency professional duty: ensure compliance with applicable laws; personal liability for non-compliance not recoverable as insolvency costs.
An insolvency professional acting as Interim Resolution Professional, Resolution Professional or Liquidator must exercise reasonable care and diligence and take necessary steps to ensure the corporate person undergoing insolvency or liquidation complies with all applicable laws; losses or penalties arising from non-compliance shall not form part of insolvency resolution or liquidation process costs, and the insolvency professional will be held responsible for non-compliance caused by their conduct.

Registered address and registration number requirement: insolvency professionals must use registered contact details in all communications.
Insolvency professionals must prominently state their registered name, address, email and registration number, and the capacity in which they are communicating, in all communications; they may add a process-specific address and email so long as those are additional to the registered details and are maintained for at least six months after conclusion of their role.

GST trader verification instructions require geo-tagged surveys, turnover-based checks, and REG-30 compliance for new and migrated registrants.
Instructions were issued for the survey and verification of newly registered and migrated GST traders through employee-led checks, handheld devices, and mobile-app-based photography with geo-location capture. Traders not operating at the declared address, traders who migrated to GST and later cancelled registration, traders who did not migrate, and cancelled service tax registrants found carrying on business were all to be identified and checked under prescribed turnover thresholds and timelines. Newly registered e-way bill users and low-tax traders were also assigned for verification in REG-30 format under GST rules.

GST refund processing requires manual applications, prescribed undertakings, inter-authority payment coordination, and bars credit refunds where drawback is availed.
Manual GST refund processing applies to accumulated input tax credit from inverted duty structure, deemed exports and excess electronic cash ledger balances until the portal module is available. Applications in FORM GST RFD-01A require prescribed periodic returns, supporting statements and, where applicable, undertakings. Deemed-export claims may be made by the supplier or recipient subject to reciprocal non-claim undertakings. Rejected debits are re-credited to the electronic credit ledger, while Central and State tax authorities coordinate payment of their respective sanctioned components. Accumulated input tax credit refund is unavailable where GST drawback has been availed.

Schemes of Arrangement: revised filing, independent valuation, public shareholding safeguards and mandatory lock-in and listing timelines.
Amendments require draft schemes for wholly owned subsidiary mergers to be filed with stock exchanges for disclosure; mandate that valuation reports and fairness opinions be supplied by an Independent Chartered Accountant and an Independent SEBI-registered Merchant Banker absent material conflicts; impose a minimum public-holding safeguard in the post-scheme shareholding on a fully diluted basis; prescribe staged lock-in of pre-scheme share capital for unlisted issuers seeking listing with limited exceptions and permitted pledges or inter-se promoter transfers; and require completion of listing and commencement of trading within a specified period after the court order with prior newspaper disclosures.

SION modification: import quantity requirement increased for raw sesame seeds against hulled sesame seeds export.
Modification of SION K 36 revises the input requirement for Hulled Sesame Seeds: the prescribed input quantity of Raw Sesame Seeds at S. No. 1 is amended to a higher quantity per unit of export. The change is notified under Paragraph 1.03 of the Foreign Trade Policy, 2015-2020 and updates the Handbook of Procedure Vol. II SION entry for the specified export item.

Revised process requires mandatory preliminary Customs feasibility assessment before online IMC submission for ICD/CFS/AFS projects.
Developers must obtain a mandatory preliminary feasibility assessment from the jurisdictional Customs Commissioner-completed within one month-covering land availability and title, land use permissions, promoter antecedents and project viability, before submitting applications online to the IMC; CBEC will forward Commissionerate views and the IMC will consider proposals via the new electronic module.

Customs authorization for drugs consignments allows a designated CDSCO Drugs Inspector to clear import and export entries at the port.
Authorization is granted for a designated CDSCO Drugs Inspector to process and clear import Bills of Entry and export Shipping Bills for drugs and pharmaceuticals under the Drugs and Cosmetics Act, 1940 and rules at Krishnapatnam Port, Nellore, and stakeholders are directed to utilize the inspector's services and report any implementation difficulties to the customs office.

Payments in Indian rupees allowed at duty free shops via INR cards; arrival payments limited, departure payments unrestricted.
Payments by passengers at Duty Free Shops may be made directly in Indian rupees through INR credit or debit cards without conversion of foreign exchange and without conversion charges; DFS must display all prices in Indian rupees only. The pre existing cash ceiling in Indian currency remains applicable; INR card payments in the arrival hall are subject to the incoming passenger Indian currency ceiling, while INR card payments in the departure hall are permitted without limit for outgoing passengers. If a passenger opts to pay in foreign currency, the DFS shall apply the exchange rate notified under Section 14 of the Customs Act, 1962.