Import of currency by post permitted under general permission subject to conditions; customs may release low value consignments without RBI referral.
Customs may release imported Indian and foreign currency received by post without prior reference to the central bank for low value consignments, provided approval is given by an officer not below Additional Commissioner/Deputy Commissioner, a detailed record of exemptions is maintained, remitter and addressee details are logged, and any unusual increase in such receipts is reported to the central bank's regional office; dissemination and reporting requirements to the Board apply.

Clearance of uncleared cargo instructs disposal where no court impediment and prompt reporting of action
Directive requires clearance and disposal of unclaimed and uncleared cargo at ports and air cargo complexes landed up to 31.12.1998, provided there are no court cases preventing disposal; customs formations are to take expeditious action and report results, and similar action may be taken in future on field initiative.

Mis-declaration of goods: seizure under customs law after phones and batteries were cleared as plastic buttons-vigilance advised.
Consignments falsely declared as plastic buttons showed EDI records of examination despite remaining intact; X ray screening revealed high density electronic items. On inspection, numerous cellular telephones and battery cells were found and seized under Section 110 of the Customs Act, 1962, and the inspecting officer was suspended. Officers are directed to note this modus operandi, use appropriate screening, and issue standing orders to prevent such mis declaration and concealment.

Companies amendment: authorises buy back and sweat equity, establishes investor protection fund and nomination facility.
The Companies (Amendment) Act, 1999 recognises an infrastructure finance entity as a public financial institution, authorises companies to buy back their own securities, and permits issuance of sweat equity shares for know how or intellectual property consideration. It establishes a nomination facility for security holders, mandates an Investor Education and Protection Fund, creates a National Advisory Committee on Accounting Standards for Companies, and removes the need for prior Central Government approval for inter corporate investment and lending proposals.

Import entitlements for gem and jewellery allow duty free inputs and polished stone imports for export linked manufacture.
Amendments permit import of old plain gold, silver or platinum jewellery for repair/remaking for export, reclassify certain mangal sutra and mechanised bangles as plain gold jewellery, and allow exports via authorised couriers and personal carriage from EOUs subject to assessment and sealing at the zone. Dust and sweepings may be cleared into DTA on duty payment with assaying; imports for manufacture for export are to be assessed at the effective customs duty rate of Notification No. 80/97, with penalties for clandestine removal. Duty free replenishment consumables and limited duty free import entitlement for cut and polished stones are allowed on actual user and certification conditions.

Personal carriage of gem and jewellery permitted with courier export options and limited weight variation on re-imported repairs.
The revised EXIM Policy and Handbook align customs provisions to permit export of specified samples under intimation without counting their value towards export obligation; operationalise personal carriage and courier export of gem and jewellery from EOUs, EPZs and certain DTA units via appraised sealed parcels or deputed customs processing; allow a limited weight variation on re-imported jewellery re-exported after repair or remaking; and confirm raw material utilisation periods with liberal customs extensions where no mala fides is suspected.

Review of company law forms: stakeholders asked to propose defects, revised formats and cite applicable rules within deadline.
A committee chaired by U.C. Nahta has been formed to review and streamline forms under the Companies Act, 1956; stakeholders are invited to identify defects, suggest modifications or revised formats, and specify each form's number/title/annexure and the governing rules, with submissions requested within a short prescribed time frame.

Special Advance Licensing Scheme: registration and mandated recordkeeping for manufacturer exporters, noncompliance treated as statutory contravention.
The Special Advance Licensing Scheme mandates registration of every manufacturer exporter with Central Excise and strict maintenance of prescribed records of imported materials and their use in export products. Range Superintendents must inspect units at least once every three months to verify records. Department of Electronics handles technical verification of input relevance and utilization, while Central Excise enforces recordkeeping to prevent abuse. Failure to maintain records constitutes a statutory contravention and the scheme disallows modvat credit, rebate or duty drawback.

EPCG licence validity aligned with export obligation period, requiring co terminus endorsement, affecting import of spares under export policy.
Amendments reallocate security and documentation: eligible large exporters and designated houses must furnish a Legal Undertaking; other manufacturers must post a bond with bank guarantee for 25% of excise duty saved; merchant exporters (excluding specified categories) must post a bond with bank guarantee for 100% of excise duty saved on indigenous procurements in lieu of imports. EPCG licence validity for spares is made co terminus with the export obligation period and must be endorsed on the licence; deemed export benefits are conditioned on certification, procurement under international competitive bidding or specified customs notifications, with restricted benefit categories for domestic suppliers.

DEPB classification guidance clarifies which engineering and textile exports qualify for specified DEPB rates.
Clarification determines DEPB rate applicability where product descriptions differ: non-alloy skelp is covered under engineering-product entry Serial No. 391; non-alloy steel rails and sleepers under Serial No. 381; stainless steel in coil form under Serial No. 389; items under Serial Nos. 69, 113 and 244 shall be covered under Serial Nos. 178, 466, 508 and 517 with DEPB rates extending to ungalvanised form; and garments from netted fabrics shall be treated as knitted garments for DEPB benefits as per Appendix 28A.

Free Sale/Commerce Certificate: exporters apply to DGFT; non Drugs items cleared by DGFT, regulated devices sent for health ministry endorsement.
Exporters must apply to designated DGFT officers in a prescribed form with required documents; DGFT will issue Free Sale/Commerce Certificates for items not covered by the Drugs and Cosmetics Act and not prohibited for export. For medical devices regulated under the Drugs and Cosmetics Act, DGFT will forward applications to the Ministry of Health for endorsement, and the Ministry may demand supporting documents such as a GMP licence.

Exemption under Customs Tariff Act exempts cess on imported sugar, so separate sugar cess exemption is unnecessary.
The Board concluded that an exemption issued in respect of Additional Customs duty under the Customs Tariff framework operates to exempt imported sugar both from Central Excise duty and from the cess, so no separate exemption under the Sugar Cess Act is necessary; pending cases should be finalised accordingly.

Service tax head allocation directs specified service providers to deposit tax under assigned major and minor account heads.
Allocation of designated Major Head, Minor Head and Sub Head account codes requires specified service providers to deposit service tax under assigned heads; the notice lists new account codes under Major Head 0044 for listed services and prescribes sub heads for tax collections, other receipts and deduction of refunds, with an annexed schedule supplying detailed account codes for each service category.

Attestation requirement for approved bulk drugs removed; prior DCGI or pharmacopeia approval suffices to avoid port-level attestation delays.
Export consignments of bulk drugs need not be routed for port-level attestation by Drug Controller officers where the bulk drug is an approved drug, including those listed in the Indian Pharmacopoeia or those approved by the office of the Drug Controller General of India; customs and licensing authorities should not insist on separate attestations at ports, to prevent shipment delays where Drug Controller officers are not stationed.

Manufacture definition: Upgrading computer systems is not manufacture if no distinct new name, character and use emerges.
Upgrading computer systems does not constitute manufacture where enhancements to storage or processing do not produce goods with a distinct new name, character and use. Components replacing old parts have already borne duty and the original system was dutiable; the place of upgradation and the extent of value addition do not convert such activity into manufacture.

Field classification clarifies applicability of automatic route foreign collaborations; only proposals matching prior ventures' NIC codes apply.
Defines "same field" as the four digit NIC 1987 code and "allied field" as the three digit NIC 1987 code for determining applicability of the Press Note on automatic route foreign/technical collaborations where the foreign collaborator has prior ventures or tie ups in India; only proposals matching those NIC classifications in respect of past or existing joint ventures in India attract the Press Note.

Downstream investment permission: foreign owned Indian holding companies may invest in Annexure III activities under automatic approval subject to conditions.
Foreign-owned Indian holding companies may undertake downstream investments in Annexure III activities eligible for Automatic Approval provided investments stay within permitted foreign equity limits, the investee's activities are confined to Annexure III, increases in equity result from expansion or fresh equity, and excluded categories (EOU/STP/EHTP projects, compulsory licensing items, SSI reserved items, transfers or buybacks) obtain prior Government/FIPB approval. Holding companies must notify SIA within thirty days, support inductions of foreign equity with board resolutions, agreements and consent letters, follow SEBI/RBI rules on share issue and valuation, and bring funds from abroad rather than leverage domestic markets.

Filing cross objections: require prompt cross objections or considered comments to support departmental defence and protect revenue.
Commissioners must promptly examine appeals raising important law points or substantial revenue and either file Cross Objections in the Tribunal or send considered comments with relevant documents to regional departmental representatives; the memorandum of Cross Objections or comments must be furnished to the concerned CDR/JCDR/SDR within 45 days of receipt of Tribunal notice, and any subsequent requests for clarifications must be attended to expeditiously to safeguard revenue interests.

Section 37B orders: publication and prospective effect; Section 11A demands may be issued but not enforced.
Section 37B orders shall have prospective effect, be published and offered for sale on the date of issue and may be circulated by Commissioners. Pending the Larger Bench decision in Cotspun Ltd., demand notices under Section 11A may be issued pursuant to a Section 37B order but shall not be enforced; paragraph 3 of the earlier circular is deleted.

Advance licence application procedures require SALC fixation of adhoc input output norms before final adjustment or regularisation.
Procedural framework requires applicants for Advance Licences where Input Output norms are unfixed to file applications in triplicate with registration certificates, consent letters where applicable, a self declaration accepting final adjustment to adhoc/standard Input Output norms fixed by SALC, and accountant certificates of export performance. File numbers are generated and copies forwarded to SALC for norm fixation; applicants must submit required sets to SALC quoting file numbers. Licences with actual user condition may be issued adhoc subject to later adjustment and possible surrender for regularisation; licences without actual user condition are issued only after SALC norms are received.