Judicial supremacy: Board circulars conflicting with Supreme Court rulings must not be followed and should be referred for rescission.
Board circulars conflicting with Supreme Court law are non est in law and must not be followed; such circulars should be referred to the Board for rescission or the Board may act suo moto. All pending matters, including those in the Call-Book and decisions rendered after the judicial pronouncement, must conform to the law declared by the Supreme Court or High Court. Where the Board chose not to appeal a High Court decision the instruction applies; where revenue has appealed, matters should be kept in the Call-Book and appeals maintained. Difficulties must be reported to the Board.

Adjudication delay must be avoided; authorities directed to conclude proceedings within a reasonable period and digitize records.
Adjudicating officers must conclude tax adjudicatory proceedings within a reasonable period; failure to decide long standing Show Cause Notices can render proceedings unsustainable. All Commissioners should ensure adjudication orders are passed within prescribed time limits, employ monitoring mechanisms, and explore scanning and digitization of papers related to adjudication and litigation to prevent undue delay.

Manual refunds restrictions require higher-level approval and place refund vouchers under Range Head custody for security.
Restriction on manual refunds permits issuance only in narrowly defined exceptional circumstances and requires supervisory approvals per the instruction. Refund Vouchers must be kept in the custody of the respective Range Head, who is responsible for their safe custody and proper use, and the custody rule and approval safeguards must be communicated to all officers for strict compliance.

Posting of Excise Inspectors: several inspectors reassigned to Enforcement, Confiscation and Permit branches with immediate effect.
Posting of Excise inspectors ordered with immediate effect: specified inspectors and sub inspectors are reassigned to Confiscation/Enforcement, Enforcement (from IMFL and other postings), and Permit branches. The administrative transfer directive is issued by the Office of the Commissioner of Excise and approved by the competent authority, taking effect immediately.

Insider trading disclosure formats revised; exchanges must implement amended forms and notify listed companies promptly.
Revised Forms A-D standardise disclosures under the Prohibition of Insider Trading Regulations, requiring initial, appointment, continual and other connected person disclosures of securities holdings, transactions and derivatives positions. The formats specify security types, transaction modes, dates, open interest details, and a method for calculating options notional value. Stock exchanges must implement the formats immediately, amend relevant bye laws, issue guidelines, and circulate the requirements to listed companies.

EGM filing compliance required; steamer agents must close pending EGMs in EDI or face penalties under customs law.
Requirement for timely filing and closure of Export General Manifests (EGM) is emphasized to ensure accurate export data and entitlement to export incentives. Masters or authorized agents must file EGMs within the statutory period after sailing; EGMs open in ICES Version 1.5 must be updated and closed by steamer agents through coordination with the Assistant Commissioner (MCD) or designated MCD officers.

Export of non-basmati rice restricted to privately held stocks; exporters must file self-declaration and procurement list.
Export of non basmati rice is limited to privately held stocks (including permitted State Trading Enterprises) and must be through Customs EDI ports, except specified non EDI LCS exports subject to DGFT quantity registration. Exporters must submit at filing a self declaration in the prescribed proforma confirming the rice is non basmati and from privately held stocks and provide all documents. Exports from Kakinada EDI port carry an additional requirement to submit, within ten days of vessel sailing, a procurement list with supplier name, full postal address with PIN code and quantities for all Shipping Bills of the vessel.

Export credit line requires majority Indian-sourced supplies and EDF/SDF reporting, with limited foreign procurement permitted.
A Government-supported Line of Credit administered by the Export-Import Bank finances specified power-sector contracts in Nicaragua subject to a requirement that at least 75% of contract value for goods and services (including consultancy) be supplied from India and up to 25% of goods and services may be procured abroad; shipments must be declared on EDF/SDF forms, disbursements and LC openings are bound by contract completion or a fixed outer date, and no agency commission is payable under the LOC though exporters may use own funds or EEFC balances for commission subject to remittance rules.

Corporate social responsibility committee deadline extended after ministerial approval for submission of its report within the new timeframe.
A High Level Committee constituted to suggest measures for improved monitoring of Corporate Social Responsibility under Section 135 of the Companies Act, 2013, has been granted a one-month extension by ministerial approval to submit its report by 22.09.2015.

Transfer Pricing Officer designation: Specified domestic transactions continue to be handled by TPOs under Commissioner (Transfer-Pricing).
Cases concerning Specified Domestic Transactions shall continue to be handled by the Transfer Pricing Officers working under the Commissioner (Transfer-Pricing) for determination of Arms Length Price. The Board has issued Notifications 58 and 59/2014 under its statutory powers to confirm this jurisdictional allocation and has directed that the clarification be brought to the notice of all concerned.

Dossier case threshold revision reallocates monitoring authority and raises monetary thresholds for focused tax recovery oversight under income tax instruction
Revision increases monetary thresholds for classification and monitoring of Dossier cases, raising the primary threshold and re allocating supervisory responsibility across hierarchical monitoring levels while preserving existing reporting and review protocols except as amended by the new monetary limits.

Partly paid shares and warrants allowed as eligible capital instruments under FDI policy; issuance subject to RBI terms.
The FDI policy now treats capital as including equity shares (which may be partly paid), fully, compulsorily and mandatorily convertible preference shares and debentures, and warrants; preference shares and convertible debentures must be fully paid and mandatorily convertible, and 'warrant' includes share warrants. An Indian company may issue warrants and partly paid shares to non residents subject to terms and conditions prescribed by the Reserve Bank of India.

Facility sharing arrangements allowed under FDI policy if arm's length pricing and lease income remains proportionally low.
Facility sharing agreements between group companies through leasing/sub leasing arrangements for business purposes will not be treated as real estate business under the Consolidated FDI Policy provided such arrangements are at arm's length in accordance with applicable tax pricing standards and annual lease rent earned by the lessor company does not exceed a small proportion of its total revenue.

Disclosure requirements for NBFC debt offers require group exposure, NPA reporting and sectoral portfolio transparency in offer documents.
NBFC offer documents for public debt issues must disclose aggregated exposure to top borrowers, details of loans overdue and classified as non performing per RBI norms, and identify any borrowers within the NBFC's defined Group with borrower name, exposure amount and percentage of total AUM; they must also present sectoral portfolio summaries, secured versus unsecured borrowing proportions, promoter holding changes beyond the RBI threshold, and borrower level classification as per the prescribed template.

Customs test automation: CRCL module enables electronic sample forwarding and online test reports, expediting BE processing.
Introduction of a CRCL Test Module in ICES 1.5 creates an electronic workflow for forwarding customs samples to the designated Central Revenue Laboratory and receiving online test reports. It prescribes role-based actions: Group Appraising Officer to record test requirements and select lab; Group AO to generate Test Memo Numbers; Shed Examiner to draw, record and dispatch samples and print Test Memos; CRCL Admin to acknowledge receipt and assign tests; Lab Officers to enter or verify reports. Recorded reports advance the bill of entry for Shed AO action. The module applies only to the designated laboratory.

Valuation of second-hand machinery must be conducted and certified only by qualified Chartered Engineers, delegation prohibited.
Valuation and physical examination of imported second-hand machinery must be carried out and certified only by a professionally competent, qualified Chartered Engineer listed by the empanelled inspection agencies, with the inspecting engineer issuing the certificate; delegation to unauthorized or unqualified persons is prohibited.

Bank public holiday policy: specified Saturdays treated as holidays, ESCIMS will block challan generation on those days.
Banks will observe public holidays on specified Saturdays each month while other Saturdays remain working days; the ESCIMS operator is authorized to restrict users from generating challans on those specified Saturdays, and licensees are instructed to plan payments and compliance accordingly.

Online modification of Importer Exporter Code now required; applicants must use DGFT portal and pay the prescribed fee online.
The Director General of Foreign Trade notifies that amendments to both electronic and physically issued Importer Exporter Codes (IECs) are operationalised for online processing from 21 September 2015; applicants must use the DGFT website "Modify your IEC" option and complete online payment through net banking or credit/debit cards, and henceforth modifications in IEC will be done online only.

Container movement time limits established for transfers between VCTPL and CFSs; compliance required within specified transit windows.
Prescribes maximum permissible transit durations for container movements between VCTPL and specified destinations: VPL Integral CFS - 2 hours and 30 minutes; CONCOR MMLP - 2 hours; L 17 area, docks - 45 minutes. These time windows apply to steamer agents, shipping lines, customs house brokers, CFS operators/custodians and main line operators. All prior instructions in Public Notice No. 22/2008 and No. 06/2013 continue to apply, and operational difficulties are to be reported to the Assistant Commissioner of Customs (Preventive).

Amendment to Appendices updates nominated agency designation and imposes export obligation period for specified imported inputs.
The Public Notice inserts The State Trading Corporation of India Ltd. as a Nominated Agency in Appendix 4B and corrects Appendix 4J to record that Natural Rubber imported under the pre-import condition is subject to an Export Obligation Period of six months from the date of clearance of each import consignment by Customs.