Broadcasting services taxability: Prasar Bharati now liable for service tax as provider; registration required for its units.
The omission of section 22 removed the statutory protection previously available to Prasar Bharati (Doordarshan and All India Radio), and consequently Prasar Bharati is liable as the provider of Broadcasting Services to pay service tax. Departmental instructions are modified to require immediate registration of all Prasar Bharati units as service providers for service tax compliance.

Export finance eligibility expanded to include capital goods and Exim Policy exports; authorised dealers must notify exporters.
Clarifies that Exim Bank Lines of Credit to foreign banking/financial institutions are not limited to illustrative lists; capital goods, plant and machinery, industrial manufactures, consumer durables and other items eligible under the Exim Policy may be financed. Authorised dealers must notify exporter constituents. Directions are issued under FEMA authority.

Employee trading restrictions updated to align with insider trading regulations, shortening approval and cooling-off periods.
SEBI aligns employee trading rules with the SEBI (Insider Trading) Regulations: compliance officer approval for an access person's security transaction is valid for one week instead of ten calendar days, and the prohibition on profiting from matched purchase-and-sale transactions by employees is reduced from sixty days to thirty days; issued under Regulation 77 of the SEBI (Mutual Funds) Regulations, 1996.

Ad-hoc DEPB rates framework enables provisional duty credit rates for SION-covered exports, subject to documentation and conversion.
Guidelines provide a provisional procedure for fixation of ad-hoc DEPB rates where SION exist but exporters lack sufficient data. Ad-hoc rates, notified by Public Notice and valid for six months, require Appendix 10A applications with declared FOB per unit and allow CIF input valuation via customs data or recognised sources. The Advance Licensing Committee computes value addition, the DEPB Committee fixes the ad-hoc rate accounting for customs duty and uses FOB as the value cap, and exporters must submit actual export details within four months for conversion to permanent rates.

Service tax on storage of empty containers confirmed as within storage and warehousing services scope.
Handling, storage and warehousing of empty containers are within the scope of storage and warehousing services because empty containers are treated as goods under section 65(87) of the Finance Act, 1994; accordingly service tax is leviable and prior clarification excluding empty containers from cargo handling services is not relevant to this classification.

Tariff Rate Quota eligibility expanded to include a government enterprise and application deadline extended for specific oil imports.
Amendment to the Tariff Rate Quota procedure revises the final submission date for completed application forms and prescribed documents for specified TRQ items and adds Project and Equipment Corporation of India Ltd. as an eligible entity for quota access for crude sunflower/safflower oil (and fractions) and refined rape/colza/mustard oil; all other previously prescribed conditions and modalities remain unchanged.

EPCG licence issuance: units with merchant-exporter RCMC and provisional registration may receive licences subject to full bank guarantee.
Regional Licensing Authorities may treat units as manufacturer exporters for EPCG licences when the unit furnishes an RCMC as a merchant exporter together with a provisional registration number; in such cases EPCG licences shall be issued subject to a full bank guarantee irrespective of the provisions of the Handbook of Procedures (Vol. I).

Venture Capital Reporting: Revised format mandates quarterly submission of comprehensive fund and industry investment data within a short deadline.
SEBI requires registered venture capital funds to use a revised reporting format and to submit complete quarterly reports within three days after each calendar quarter end, providing cumulative funds raised by scheme across investor categories with percentage shares and an industry-wise break down of cumulative investments across specified sectors.

Prior approval for change in broker status required; defined circumstances, fee obligations and procedural filings now mandated.
Prior approval under Rule 4(c) is required for specified changes in broker status-change in designated/whole-time directors, change in control, conversion of business form, transfers, consolidation/merger/amalgamation, and surrender of registration. Exchanges must approve and forward applications to SEBI within one week with confirmations on absence of defaults, pending complaints or investigations, payment of applicable fees and prescribed turnover details; full fees and interest are payable where indicated and certain approvals permit a six-month period for fresh registration.

Service tax accounting heads require notification of assigned codes and issuance of trade notices to inform assessees.
Accounting heads under Major Head "0044 Service Tax" were opened for seven newly taxable services with distinct 8 digit codes for Tax Collection, Other Receipts, and Deduct Refunds; Commissioners must be notified of the codes and advised to issue a Trade Notice. "Other Receipts" covers interest and penalties on delayed payment; "Deduct Refunds" is reserved for the Excise Department when granting refunds and is not for use by assessees.

Capitalisation of import payables: shares may be issued against certain foreign currency payables subject to tax and procedures.
Policy now allows issue of equity shares to non residents against lumpsum fees, royalties and External Commercial Borrowings in convertible foreign currency already due for payment or repayment, subject to meeting all applicable tax liabilities and required procedures; previously issue was permitted only against inward remittance in convertible foreign exchange or debit to NRE/FCNR accounts.

TRA/GRA issuance procedure for cross port clearances: off site debiting and coordinated electronic registration ensure licence debits and reporting.
Requires filing the prescribed triplicate application at the Port of Registration with dated acknowledgement; present one acknowledged copy plus the original licence and documents at the Port of Clearance. The Port of Clearance records licence and consignment in the S/32 Register, verifies alerts and specimen signatures, forwards details for RA/TRA electronic registration, and the Group Appraiser debits quantity and value on the reverse of the licence at assessment. Ports of Clearance send daily debit reports to Ports of Registration, and importers must submit licences and the receipted application to the Port of Registration within three working days for completion of the debit procedure.

Monetary limit for appeals clarified as revenue effect, covering tax, interest, penalties and other sums, guiding appeal filings.
The instruction clarifies that "monetary limit" and "tax effect" are to be read as "revenue effect", meaning the amount of tax, interest, penalty, fine or any other sum involved; this clarificatory reading promotes uniformity in departmental appeal filing and extends to litigation under other direct taxes.

Fixation and modification of input and output norms: standard SIONs amended and new input entries added across product groups.
The Director General of Foreign Trade, under Paragraph 2.4 of the Export and Import Policy 2002-2007, issues a Public Notice amending Handbook of Procedures, Vol.2 by substituting, correcting and adding Standard Input Output Norms (SIONs). Annexure A details substitutions, corrections and new notes affecting chemical, electronics and engineering SIONs (including a net-to-net components rule for electronics and restrictions such as limits on steel melting scrap). Annexures B and C add new detailed SION entries for chemicals and engineering products specifying permitted input items and quantities and related conditions.

Excise duty refund extended to hydrocarbon oil for official vehicles of diplomatic missions, enabling recovery of duty paid.
Refund of excise duty on fuel used in official vehicles of diplomatic missions is expanded to cover all hydrocarbon oil, including petrol, diesel and fuel oil, replacing the earlier instruction that limited refunds to petrol; the Protocol Division will circulate the revised instruction to diplomatic and consular missions for implementation.

Duty free import of natural rubber: licensing authorities to determine admissibility under court decision and Exim provisions.
All licensing authorities are directed to assess and decide admissibility of imports of natural rubber by reference to the judicial determination and the relevant Export-Import (Exim) provisions and procedures, applying existing Advance Licence and related scheme terms when processing applications; this replaces earlier internal instructions that advised against issuance of duty-free licences for natural rubber.

Line of Credit for exports to Sri Lanka sets financing, shipment deadlines, declaration and commission conditions under exchange control.
A Line of Credit has been provided to a Sri Lankan bank to finance eligible Indian exports including capital goods and related services, requiring shipments to be declared on GR/SDF forms and letters of credit to be opened and utilised within prescribed terminal dates. Agency commission is generally disallowed but the Reserve Bank may permit limited commission for after sales service subject to prior approval and invoice deduction payment in the borrower's country, with the reimbursable finance amount adjusted accordingly. Directions are issued under the Foreign Exchange Management Act.

Employee stock option governance tightened; new disclosure, valuation and listing requirements and trust consolidation rules.
Amendments expand definitions, require a Compensation Committee and prescribed Disclosure Document, mandate disclosure of valuation method and, if intrinsic value is used, disclosure of the difference from fair value and its impact on profits and EPS. Schedule III prescribes fair value measurement and assumptions; Schedule IV prescribes pre grant disclosures. Repricing needs shareholder approval; listing rules require filings and in principle approvals, special IPO ratification and prospectus disclosures for pre IPO ESOS/ESPS shares; trust administration must be consolidated under AS21.

TRA issuance procedure withdrawn for specified ports; DEPB scripts to be manually debited at clearance and recorded in EDI.
TRA issuance by New Custom House for Jawaharlal Customs House, Air Cargo Complex and CFS Mulund is withdrawn; DEPB/DEEC/DFRC licences verified by New Custom House may be presented to those formations for manual debiting on the original script at clearance, after which the original must be submitted to New Custom House licence section for EDI debiting and endorsement before being returned. The same process applies to GRAs; TRA for other ports follows existing procedure.

Assessable value must include the value of caps fitted to tubes even if manufacturers do not separately charge for them.
The Board clarifies that the assessable value of tubes must include the value of plastic caps fitted to them even if manufacturers do not levy a separate charge for those caps, applying the principle that assessable value comprises the entire intrinsic value of the article as reflected in Union of India v. Metal Box Co. of India Ltd. Field formations are directed to inform officers and secure acknowledgements of the circular to ensure consistent valuation practice.