Restrictions on removal of excisable goods: pre-budget and budget-day clearance suspended, obligations and permits required.
A suspension and supervisory regime applies to removals of excisable goods on the pre-Budget day and on Budget Day under rules 173G(2), 223B and 224: Self Removal Procedure is suspended after the prescribed hour; assessees must file advance clearance applications, declare last invoice numbers and closing stock, and obtain acknowledgements. Range offices must designate a proper officer to receive filings, supervise and countersign removals. Targeted stock verifications and penal action for false or missing declarations are mandated. Commissioners may grant limited relaxations for specified operational exceptions subject to reporting and conditions.

Provisional DEPB shipment permitted for specified drug formulations pending formal rate notification; textile caps include with or without embroidery.
Provisional DEPB entitlement is permitted for specified bulk drug formulations-injection, intravenous infusion, syrup, oral suspension, tablet and capsule-pending formal notification of DEPB rates, on the basis that rates are expected to be notified shortly. For textile products with a DEPB value cap, the export product definition for entitlement includes items supplied "with or without" embroidery.

DEPB import facility expanded to permit registered scrips to be used at designated ports via TELEgraphic Release process.
Permits DEPB scrips registered at specified sea-ports, airports and ICDs to be used for imports at any of those listed locations via Telegraphic Release Advice, while DEPBs registered at other ports remain limited to their port of registration. The facility applies only to imports and requires the TRA to specify goods description, value, quantity, DEPB serial number, date of issue and entitlement; the receiving Customs House must forward import details to the issuing Customs House for register entry. This circular supersedes earlier circulars on the matter.

Export obligation regularisation permits one-time release of booked precious metals after penalty payment for delayed exports.
One-time relief permits nominated agencies to consider replenishment claims where exports were completed but not claimed, and to regularise bonafide exporters who completed exports late on payment of a penalty equal to interest at 24% on the duty for the delayed period; thereafter release of Gold/Silver/Platinum may continue subject to normal terms. The measure, exercised under Paragraph 4.11 of the Exim Policy, is conditional and exporters are required to adhere strictly to prescribed time limits.

Monthly Technical Report compliance: new proforma, signed submission by Commissioner and consolidated ATR reporting ensured.
The revised Monthly Technical Report must be submitted in a new proforma, signed by the concerned Commissioner and received by the 10th of the following month with no column left blank, especially the "Reasons for pendency." Revenue Analysis is delinked from the MTR and will be dealt with by TRU separately. Marks/grades/ranking for Commissioners are discontinued. The format comprises Part-A (pendency position) to be fully completed and Part-B (Action Taken Report) consolidated by the Chief Commissioner and sent directly to the Board by the 10th with a copy to DGI.

Eligibility for excise exemption: only units using wholly indigenous raw materials qualify; imported consumables allowed.
The excise exemption under Notification No. 8/97-CE for DTA sales by 100% EOUs/FTZ units is available only to units manufacturing goods wholly from indigenous raw materials; units using both imported and indigenous raw materials are ineligible. Use of imported consumables does not disqualify a unit provided all other Notification conditions are met.

Re-import permission under rule 173MM: Assistant Commissioners authorised to grant expedited approvals within prescribed working hours.
Assistant Commissioners are authorised under rule 173MM to grant permission for entry of exported goods re-imported and returned to the factory for repair; Para 14.1(a) of Circular 87/87-CX is amended to substitute 'Assistant Commissioner' for 'Collector (now Commissioner)'. Applications must be processed within 24 working hours and, if in order, permission granted within 48 working hours. Assistant Commissioners are already proper officers for disposal of waste or refuse and for remission of duty subject to conditions prescribed by the Commissioner.

Special Currency Basket valuation revised for deferred-payment USSR contracts, altering rupee conversion under the applicable protocols.
Reserve Bank of India revised the Indian Rupee value of the Special Currency Basket, effective 6-3-1998, for conversion of payments under deferred payment contracts entered under the Indo USSR deferred payments protocols. The revision applies to contracts concluded under both the 30 April 1981 and 23 December 1985 Protocols and is communicated in Public Notice No.12/(RE-98)/1997-2002 for administrative application.

Deemed export benefits extended for pre-aid-withdrawal contracts supplying MPEB projects, subject to certification and licence conditions.
Deemed export benefits are extended to supplies for MPEB Thermal Power Project where Letters of Intent were issued before the aid withdrawal date and tenders were evaluated under aid-mandated procedures; benefits cover supplies during the contracted delivery schedule, including authorised extensions, but completed contracts are ineligible for Special Imprest Licence unless licence applications were made before supply, and project authorities must certify pre-withdrawal contract entry using the Appendix XVIII form.

Monitoring of EPCG export obligations updated to cover multiple duty bands; bonds remain required and show cause procedure standardized.
Amendments to Board Circular No. 5/97 Cus. expand monitoring procedures for the EPCG Scheme to cover 15%, 10% and Zero duty variants, update annexures to prescribe year/block pro rata export achievement schedules and proportionate FOB reporting, and substitute Annexure IV with standardized show cause and final notice formats for recovery of duty foregone. The circular reiterates that bonds/bank guarantees remain required under existing Notifications despite EXIM Policy textual deletions, and directs Customs Houses to issue standing orders and maintain monthly and quarterly supervisory records for enforcement.

EPCG Scheme changes expand capital goods, recognise supplies to energy sectors as deemed exports and adjust export obligations.
Changes to the EPCG Scheme permit import of jigs, fixtures, dies and moulds as capital goods within a capped proportion of licence value; treat supplies to power, oil and gas sectors as deemed exports for EPCG export-obligation fulfilment; reduce eligibility thresholds and set sector-specific export-obligation multipliers and a six-year discharge schedule with phased proportions; provide automatic revalidation of zero-duty EPCG licences with adjusted export obligations based on actual utilisation, while bonds or bank guarantees remain payable only after revised obligations are met.

Charitable exemption eligibility clarified: applying income wholly and permitted investments can satisfy notification requirements under tax law.
An institution that applies its income wholly and exclusively to its objects or accumulates it for application, and that invests surplus in the modes permitted by law, is eligible for notification under the relevant provision, provided other statutory conditions are met; the requirement to apply a specified percentage of income within the same year is not a prerequisite for notification.

Permission for removal of export oriented goods must be granted promptly to enable offsite repair and maintenance.
Units in STP/EHTP/FTZs may remove goods and equipment from bonding areas for repair and re processing without payment of duty upon prior permission from the Assistant Commissioner of Central Excise; the Board directs that such permission be granted within 24 hours of receipt, requires Commissioners to monitor delays and harassment, to take action against erring officials, and to report delayed cases for further review.

DEPB scheme credit rates updated, with annexures and corrigenda setting rates, value caps, and product descriptions for exports.
Notification under the DEPB scheme sets specified percentage credit rates for export product groups in Annexure A and Annexure B, identifies applicable shipment windows, and prescribes value caps where relevant. Corrigenda to prior Public Notices correct shipment-period wording, delete listed entries, amend product descriptions, adjust DEPB percentages, and fix value caps and calculation rules (including composite formulations), thereby integrating Annexure B into Appendix 28A and directing use of corrected schedules for computing DEPB entitlements.

Service tax reporting: monthly deposit notifications required to jurisdictional superintendent and central authority by prescribed deadline.
Assessees liable to Service Tax must intimate the amount of Service Tax deposited into the Government Account to the jurisdictional Superintendent of the Service Tax Cell on or before the fifteenth day of the month following the month to which the deposit relates, and monthly revenue collection reports are to be sent to the Director General of Service Tax as directed by the Ministry.

Licence validity extension and procedural amendments change import/export licence terms, revalidation, fees and benefit claim procedures.
Handbook amendments extend licence validity to 18 months and reclassify Special Import Licence as Special Imprest Licence with coterminous validity for projects; require original applications with TR/Demand Draft to regional licensing authorities and copies to DGFT for revalidation; correct benefit base from customs to excise duty saved; mandate additional EPCG fee where actual CIF exceeds licence CIF; permit extension requests subject to penalty on unfulfilled FOB measured against CIF of related imports; and modify SIL eligibility and numerous appendix and declaration requirements.

FOB value determination: include domestic transport to the land customs station, exclude international transport beyond it for drawback and DEPB.
FOB value for exports through land customs stations must include the cost of domestic transportation from the point of loading anywhere in India up to the Land Customs Station from which export is effected, while excluding the cost of international transportation beyond the Indian Land Customs Station; this rule applies for calculation of drawback and DEPB entitlements.

Import liberalisation from SAARC: designated ITC(HS) goods allowed freely subject to origin and new/prime condition.
The notice makes specified ITC(HS) classified goods freely importable from SAARC countries provided the goods are in new/prime condition and are of origin of those countries in accordance with the Customs Tariff (Determination of Origin under the Agreement on SAARC Preferential Trading Arrangement) Rules, 1995; Exim Codes refer to ITC(HS) Classification of Export and Import Items, 1997-2002.

Export restrictions on sandalwood oil require procurement certificates and DGFT authorisation before shipment completion.
Authorisation to export Sandalwood Oil is issued by the DGFT only after prospective exporters apply in the prescribed form and submit a confirmed export order or irrevocable letter of credit, valid RCMC and I.E. Code, and original Certificate(s) of Origin or Legal Procurement Certificate(s) in the prescribed format; physical verification of stocks by designated wildlife or forest officers and endorsement of the procurement certificates are required prior to issuance, and export must be completed by the prescribed year-end deadline.

Tax deduction at source quarterly reporting by foreign firms discontinued; payments to Indian residents remain subject to verification.
The administrative requirement that foreign companies and foreign law and accountancy firms without presence in India send quarterly statements of payments made to Indian residents is discontinued; the withholding obligation for payments for professional services remains, and payment details may be verified or collected as required.