Time bar under Section 11A not applicable to recovery of consequential erroneous refunds when issue is finally decided for department.
When a refund paid consequentially is followed by a final decision in favour of the revenue, the limitation under Section 11A does not bar recovery of the refunded amount; field formations are to note and act on this position and refer to earlier Board circulars for related guidance.

Valuation guidance suspension: marble slab and block valuation provision kept in abeyance pending Board review.
The Board has found discrepancies in the valuation guidance for marble slabs and blocks (para 2(d) of the earlier circular) and has decided to keep application of that provision in abeyance pending final reconsideration. Field formations are instructed to report implementation difficulties to the Board and to acknowledge receipt of this instruction.

Uniform calculation of sale and repurchase price mandates loads applied to NAV and standard rounding for NAV disclosure.
Loads must be charged as a percentage of Net Asset Value and applied to NAV to calculate transaction prices: Sale Price = Applicable NAV x (1 + Sales Load) and Repurchase Price = Applicable NAV x (1 - Exit Load). Offer documents must disclose this method and illustrate by example. NAV rounding is standardized to four decimal places for liquid/money market schemes and two decimal places for other schemes, and these disclosures must be included in new and updated offer documents.

Duty drawback eligibility: natural dyed made-ups with latex backing qualify when not grey, permitting drawback claims.
The entry for dyed made-ups with rubber/latex backing includes natural dyed made-ups; such goods that are not 'grey' and show processing with dyes or chemicals are eligible for duty drawback because they have borne input-stage duties. Pending claims should be decided accordingly and public notices and standing orders issued to inform trade and guide staff.

Transaction reporting obligations expanded to include buybacks, open offers and debt trades with revised reporting and confidentiality measures.
The circular mandates revised electronic reporting (Version 2.0) for FII transactions, expanding daily reporting to include buybacks, open offers, write-offs and, imminently, debt transactions while custodians must continue legacy debt reporting until further notice; the revised guidelines supersede earlier instructions. It also requires exchanges to reinforce employee confidentiality obligations and directs FIIs and custodians to adopt safeguards to prevent leakage of sensitive trade information.

Motor vehicle definition clarified: trailers and semi trailers qualify as motor vehicles for excise exemption on tyres and tubes.
The Board clarifies that the term motor vehicles in the referenced notifications covering exemption of tyres, tubes and flaps includes all vehicles required to be registered under the Motor Vehicles Act, 1988; accordingly, trailers and semi trailers that must be registered qualify as "motor vehicles" for the purpose of the excise exemption. Departments are directed to issue trade notices, circulate the circular for information and inform field formations.

Cenvat non availment declaration allows higher duty drawback for knitted garment exports, subject to verification and refund obligations.
Knitted garment exporters may claim the higher All Industry Rate of Drawback by furnishing the prescribed exporter and supporting manufacturer/job worker declarations instead of CENVAT non availment certificates; this facility applies to exports from the date Central Excise levy on knitted garments commenced. Commissioners of Customs must verify declarations per the earlier circular's procedure, settle pending cases accordingly, and issue public notices and standing orders. Declarations require statements of non registration with Central Excise, non payment of duty, and non availment of CENVAT, and an undertaking to refund excess drawback if CENVAT is later found to have been availed.

Use of DEPB scrips permitted to discharge customs duty on freely importable natural rubber, notwithstanding prior circulars.
The Policy limitation on duty-free imports does not prevent using DEPB scrips as a mode of payment of customs duty for natural rubber, which is lawfully importable on payment of prescribed duty; earlier circulars and the cited public notice do not affect this position.

Inspection schedule for customs systems ensures regular multi tiered inspections and mandatory centralized reporting.
The circular mandates a formal inspection regime for Customs systems and services (Visadex/alerts, EDI/computerisation, wireless, detection equipment, marine fleet, vehicles, weapons, drug test kits). Jurisdictional Commissionerates bear primary responsibility; Deputy/Assistant Commissioners shall inspect monthly and report results under a dedicated MTR section. Additional/Joint Commissioners shall verify quarterly and Commissioners half yearly. Failures must be recorded in MTRs with corrective actions and timeframes; DGRI will consolidate reports and specialised directorates (DRI, DPO, Commissioner Systems, Director (Communication)) will conduct targeted verifications per assigned schedules.

Advance Licence export obligation extensions allowed on monthly composition fee proportionate to unfulfilled obligation, subject to exclusions and compliance.
RCMC will not be required for exports of shoddy and specified wool products. Advance Licence export obligations may be extended beyond 30 months on payment of a monthly composition fee proportionate to the unfulfilled FOB value vis-a -vis CIF of imports actually made; extensions are barred for former Value Based Advance Licences, where breaches, misrepresentation, fraud, or prior adjudication orders exist. Appendix 3 (IEC application) is amended with prescribed declarations and banker's certificate requirements. DEPB/DFRC applications may accept FIRC for direct negotiation of documents with a declaration linking remittance to the Shipping Bill(s).

Extension counter facility: optional local filing and scrutiny for export import applications, forwarded to JDGFT Bhopal for issuance.
An Extension Counter of JDGFT, Bhopal is set up in Raipur to collect export import applications, provide guidance, and perform initial scrutiny to remedy deficiencies before forwarding cases to JDGFT, Bhopal for issuance of licences/IEC. Original files will be retained at JDGFT, Bhopal; issued documents will be posted to the Raipur counter for delivery to exporters upon surrender of the original receipt and presentation of valid ID. Use of the counter is optional and exporters may still apply directly to JDGFT, Bhopal.

Export eligibility rules require three consecutive years of exports; concessional recognition limited to qualifying manufacturer exporters.
An exporter must have export performance in each of the three preceding years to qualify for status certificates; any year without exports disqualifies the applicant. The special concessional recognition is restricted to manufacturer exporters of specified small or regional categories, excludes merchant exporters, and requires ISO certificates covering the full three years and an explicit Chartered Accountant certification. The C.A. certificate must detail serial number and date, product, F.O.B. value, date of realisation and country of destination, with each page attested.

Eligibility of Automatic Teller Machines for concessional duty under customs classification clarified; cash dispensers excluded.
Automatic Teller Machines are multifunctional banking terminals performing cash dispensing and additional banking transactions, while Cash Dispensers are single-purpose machines that only dispense cash; both fall under the office machines tariff heading, but only Automatic Teller Machines qualify for the concessional rate of duty, whereas Cash Dispensers are excluded.

Classification of imports: use petrological test reports to finalise provisional marble assessments; valuation and refund rules apply.
Finalise provisional marble import assessments using petrological classification and GSI, Nagpur test reports (GSI prevailing over CRCL if conflicting); reconstruct missing documents or obtain duplicate laboratory reports and decide cases on merits; do not condone excess imported quantity-initiate penal proceedings where excess exists; apply prescribed benchmark values for valuation with declared higher values prevailing; apply unjust enrichment principles to refunds while presuming pre-cleared duty was passed on; finalise pending cases per these instructions.

CENVAT credit reversal required for inputs written off as obsolete; partial write-offs allowed if inputs remain usable in manufacture.
Admissibility of MODVAT/CENVAT credit depends on whether written-off inputs or capital goods remain available and usable; fully written-off unused inputs and capital goods written off before use require repayment of credit, whereas partial write-offs do not require repayment if the inputs remain capable of and available for use in manufacturing.

Bond redemption eligibility: early release allowed after two years post import if the vehicle remains untransferred.
Regional Licensing Authorities may permit early redemption of bonds on vehicle imports originally subject to a five year No Sale Period if two years have elapsed since importation and the vehicle has not been transferred during that time.

Tax deduction exemption for entities with unconditionally exempt income-no TDS required even if payments exceed the threshold.
Where a recipient's income is unconditionally exempt under the income-tax law and the recipient is statutorily not required to file a return, there is no requirement to deduct tax at source on payments to that recipient even if payments exceed the prescribed threshold; the circular identifies specified categories of funds, authorities, boards and bodies that qualify for this non-application of TDS.

Credits to NRE accounts allowed for current income where tax is deducted, paid or provided and eligibility certified.
Authorised dealers may credit current income such as rent, dividend, pension or interest to Non-Resident (External) Rupee Accounts where they are satisfied the receipts represent current income and income-tax on such amounts has been deducted, paid or provided for; authorised dealers may rely on an appropriate Chartered Accountant certification asserting remittance eligibility and tax compliance.

Valuation of computer systems: loaded software must be included in assessable value while separate media are assessed separately.
Valuation of computer systems must include the value of any software loaded, etched, burnt or otherwise installed on the machine at the time of clearance, whether operating, application, or firmware/basic software; tangible copies of software supplied separately on removable media are to be assessed separately. The adoption of transaction value does not change this rule; valuation is determined by the form in which the goods are cleared.

Condonation of procedural lapse in EPCG shipping documentation permitted subject to specified affidavits, declarations and verification safeguards.
Relaxation permits condonation of omission of EPCG licence number and date on shipping bills for EO discharge, subject to documentary safeguards: for direct exports a CA certified affidavit preventing double counting, a list of licences, and proof that exported goods used imported EPCG machinery; for third party exports a no objection certificate, CA certified affidavits preventing double counting, licence lists for both parties, a CA certified declaration that goods were manufactured by the licence holder, and shipping bills naming both parties. Regional Licensing Authorities may decide such cases without headquarters reference.