Extension of e filing deadline allows Gujarat income tax assessees additional time to file returns under Section 119.
The Central Board of Direct Taxes, invoking statutory powers under Section 119, permitted a limited extension of the electronic filing deadline for income tax returns for assessees of the State of Gujarat, allowing returns otherwise due by the original deadline to be filed by a later date; the order was issued in compliance with a High Court direction and was made subject to the outcome of any further appeal or special leave petition the Board might file.

Reconciliation return filing: Form 9 filing requirement extended; dealers with specified interstate sales must file the reconciliation return.
The Commissioner extends the last date for filing the online reconciliation return in Form 9 for 2014-15. Filing is required only by dealers who made interstate sales at concessional rates against statutory forms 'C', transferred stock against 'F' forms, sold against 'H' forms to non Delhi dealers, or claimed deductions using E I/E II or I/J forms; others need not file.

Regularisation of undisclosed foreign assets prevents FEMA proceedings where Black Money Act taxes and penalties are paid.
Where a resident declarant has declared assets under the Black Money Act and paid the prescribed taxes and penalties, no proceedings shall lie under FEMA in respect of those declared assets and no FEMA permission is required to dispose of the asset and repatriate proceeds through banking channels within one hundred and eighty days from the date of declaration. If the declarant seeks to continue holding the asset, an application for RBI permission may be made within that period and will be decided under extant regulations; refusal requires disposal and repatriation within one hundred and eighty days or any RBI-permitted extension.

Fixing official responsibility required - Ministries must implement SAC recommendations and initiate action for lapses promptly.
Ministries must expedite implementation of Standing Audit Committee recommendations to ensure action is initiated against officers responsible for serious lapses in furnishing remedial or corrective Action Taken Notes on audit paragraphs, and put in place a system for fixing responsibility. All Ministries/Departments are directed to comply with the Public Accounts Committee's recommendations and monitor implementation; full recommendations are available on the PAC website.

Registration of Commodity Derivatives Members now requires compliance with prescribed eligibility and application procedures under SEBI regulations.
Registration of commodity derivatives exchange members is required under the amended SEBI framework: existing members meeting exchange membership eligibility must apply to SEBI within the transitional window from September 28, 2015. Applicants must meet SCRR eligibility and Stock Broker Regulations registration conditions, file applications through their exchange in prescribed form with fees and additional information, and compute minimum net worth per the prescribed formula. Business related to underlying goods or incidental to derivatives trading is not disqualifying. Exchanges must notify members, amend bye-laws and report implementation to SEBI.

Safeguard duties rebatable as drawback; claimable via Brand Rate when duties borne inputs are verified used in exports.
Safeguard duties on imports are rebatable as duty drawback but, because they are excluded from All Industry Rates, their refund must be claimed by applying for a Brand Rate; drawback is admissible only where inputs that bore safeguard duties were actually used in the exported goods as verified for Brand Rate fixation. If imported goods subject to safeguard duties are exported as such, drawback on export as such will include the safeguard duty component as part of total duties paid, subject to other drawback conditions.

Rupee denominated bonds overseas: corporates may issue under ECB rules subject to eligibility, maturity, end use and reporting conditions.
Issuance of Rupee denominated bonds overseas is authorised under the ECB framework for corporates and specified investment trusts with investors from FATF compliant jurisdictions. Bonds must be plain vanilla instruments placed privately or listed abroad; Indian banks may arrange or underwrite but not subscribe. A minimum maturity requirement and market based all in cost standard apply. Proceeds are usable broadly except for a specified negative list of end uses. Transactions must comply with existing ECB reporting, registration and prudential requirements, and larger issues need prior central bank approval.

Online transmission of MEIS scrips now auto-integrated into customs system; verify once at port before nationwide use.
MEIS scrips/licenses will be transmitted online from DGFT and integrated with ICES 1.5; they require only approval and a one-time verification at the port of registration and will thereafter be usable across India. Exporters/CHAs/CBs must select the "Y" option in Shipping Bills to enable transmission of data to DGFT. Manual registration will be discontinued for MEIS scrips but will continue for Chapter 3 schemes under the earlier FTP.

Corporate governance compliance reporting: listed entities must file prescribed governance formats and place reports before their boards.
Regulatory direction requiring submission of corporate governance compliance reports by listed entities to recognised stock exchanges in prescribed formats. SEBI prescribes three annexures: Annexure I for quarterly reporting, Annexure II for end of year disclosures and annual affirmations, and Annexure III for submission within six months after the financial year end. The reports must include board and committee composition, meeting details, related party transaction disclosures and affirmations on compliance, and must be placed before the board; stock exchanges are to disseminate the formats and the circular specifies its operative commencement and issuing provisions.

Cross-border payment facilitation via online gateways permitted with bank due diligence and segregated collection accounts ensuring compliance and fund sweep.
AD Category-I banks may enter standing arrangements with OPGSPs to process import and export payments subject to due diligence, separate Export and Import Collection accounts, appropriate purpose codes, reporting to the Reserve Bank, quarterly reconciliation and audit, and adherence by foreign OPGSPs to liaison office approval, IT law compliance, dispute resolution, refund reserves and seller onboarding procedures. Import and export collections are limited to prescribed transaction values with specified permitted credits and debits; NOSTRO collection accounts must be used for exports and funds swept into Indian export collection accounts and exporter accounts within prescribed timelines.

Foreign currency accounts by ship-manning agencies: permitted in India with restricted credits, no credit facilities, and limited duration.
Ship manning and crew management agencies rendering services to overseas shipping or airline companies may open non interest bearing foreign currency accounts with AD Category I banks in India; credits limited to freight/passage collections or inward remittances from the overseas principal, debits limited to local ship/crew management expenses, no credit facilities against account balances, no EEFC facility, banks to meet reserve requirements, and accounts allowed only during the agreement's validity.

Out of Charge verification required before container exit: CFSs must check ICEGATE, originals and secure EDI approval if unavailable.
CFSs must verify authenticity of Out of Charge authorisations and accept lists from Shed Appraising Officers at 11 AM, 3 PM and 6 PM when system access is unavailable; custodians must maintain specimen signatures and ensure officer signatures on Bills of Entry. Before issuing gate passes CFSs shall check OOC status on ICEGATE and verify original Bill of Entry, OOC copy and original duty payment challan, and confirm the bearer's valid customs pass. If EDI is down or status is unupdated, clearance requires DC/AC (EDI) approval sent by official email to AC(EDI) with copy to AC(Docks). CFSs shall monitor and report suspicious movements to DC/AC (Docks).

Extra Duty Deposit online payment now required via ICES, blocking clearance until e-payment is completed.
Integration of an Extra Duty Deposit module in ICES 1.5 mandates online e payment of EDD: the Appraising Officer generates an invoice based EDD challan and forwards particulars to the bank; the system bars issuance of "Out of Charge" for a Bill of Entry until EDD is paid. Brokers and importers must verify challans before payment and may request the Appraiser to delete and reissue a challan if incorrect. Manual EDD payments are no longer accepted and the procedure is effective immediately.

Permission for ICD Ankleshwar operations under export promotion schemes now allowed, subject to specified procedural and product restrictions.
ICD Ankleshwar is authorised for imports and exports under the EPCG, Advance Authorisation and Duty Free Import Authorization schemes, excluding specific polyester/nylon textiles, fabrics, synthetic waste and non-ferrous metals. Permission is conditional: assessments by officer not below Assistant/Deputy Commissioner; chemical sampling of synthetic textile exports at prescribed laboratories; selective container/package weight checks; Shipping Bills/Bills of Entry submitted at least three working days in advance; and production of Release Advice where port of registration differs from port of import.

Industrial license validity revised to extended term; applies to existing and future licences, expired require fresh application.
The amendment revises the initial validity of industrial licences for the defence sector to 15 years, further extendable up to 18 years, applying to existing and future licences; licences that have already expired require a fresh application.

Stock taking banned at retail and corporation liquor vends; scanning mandatory; violations may lead to prosecution and licence cancellation.
Stock taking is prohibited for all retail private and Corporation vends after the final cutoff; any liquor found as stock take sold thereafter will be treated as repeat stock and may lead to prosecution and licence cancellation. Retail vends must receive and sell liquor only through mandatory scanning; exceptions for network failure require intimation, documentation, and prior approval.

Transhipment permit authority reassigned to AC (Docks/CFS) to streamline movement to SEZs and ICDs.
Authority to grant transhipment permits for movement of cargo to SEZs, ICDs and other customs stations is reassigned to the AC (Docks/CFS) stationed at the CFS, GDKL, Vallarpadam, replacing prior requirement to obtain approval from the Customs House section and AC (Transhipment / I&B); implementation issues are to be notified to the Commissioner of Customs.

Transfer of Sub inspectors: immediate reassignments to Enforcement and Entertainment branches effective immediately.
Transfer/posting orders dated 21/09/2015 direct immediate reassignment of two Grade III (DASS) Sub Inspectors: Victor Raj M.J. to continue Enforcement and Race Course duties with additional charge of Entertainment, and Virender Tyagi to transfer from Enforcement to the Entertainment branch with responsibility for Race Course matters, cinema hall and event ticketing, and all court cases pertaining to the Entertainment branch.

Temporary import/export exhibits: either Customs bond/security or ATA Carnet now suffices for six month temporary admission without authorisation.
Amendment to Para 2.63(a) permits temporary import/export of freely importable/exportable exhibition exhibits and related construction or decorative materials for up to six months on a re-export/re-import basis without Authorisation upon submission of either a bond/security to Customs or an ATA Carnet, replacing the prior requirement to submit both instruments.

TRO staffing and tenure: mandates senior officer postings, tenure stability, reputation vetting, and periodic supervisory reviews and inspections.
Mandates that a senior Income Tax Officer (minimum three years' seniority) be posted as TRO with a minimum two year tenure, extendable to three years, and that similar tenure be applied to TRO office staff; prohibits posting officers with unsavory records to recovery work. Requires Principal Commissioner of Income Tax to hold quarterly review meetings with AOs and TROs and to perform annual inspections of TRO offices to ensure register maintenance and monitoring. These instructions are issued for compliance under the Board's approval.