Interest on warehoused goods is chargeable where customs duty is discharged by debit under DEPB scrips.
Debits under the DEPB Scheme constitute payment of the basic and additional customs duties for goods cleared from warehouse rather than an unconditional exemption; because the duty element must be debited from DEPB scrips, the statutory interest chargeable on warehoused goods applies where duty is discharged by DEPB debit. Amendments permitting Cenvat credit or duty drawback for duties debited under DEPB and requirements to debit education cess and special CVD support treating the debited duty as payable for interest purposes.

Deduction of tax at source on remittances to non residents requires remitters to furnish prescribed undertaking and CA certificate.
Remittances to non residents, including trade and business payments, attract deduction of tax at source under Section 195 read with Rule 29B; remitters must submit the CBDT prescribed undertaking and Chartered Accountant's certificate to the authorised dealer at the time of making the foreign exchange remittance, and authorised banks must obtain these documents and inform customers while remaining subject to any other statutory permissions.

Maintenance of collateral by clearing corporations allows demat holding, transfer and liquidation of foreign sovereign securities for derivatives trading.
Permits SEBI-approved clearing corporations and their clearing members to open and maintain dematerialised accounts with foreign depositories to acquire, hold, pledge, transfer and liquidate foreign sovereign securities offered by FIIs as non-cash collateral for derivatives transactions, and to remit proceeds from corporate actions. Requires monthly reporting by clearing corporations of balances of such foreign sovereign securities held as non-cash collateral to the Reserve Bank by the tenth of the following month, and notes that regulatory amendments will be issued separately.

All Industry Rate of Duty Drawback revised, with most rates increased and procedural measures for credits and grievances.
Notification No.68/2007 revises All Industry Rates of Duty Drawback: most drawback rates increased (effective retrospectively from 1 April), some rates reduced (effective prospectively from notification), new tariff entries added, and caps adjusted or removed for items meeting specified thresholds. Rates are set by input duty incidence, input prices, SION norms, import share and applied duties; fuel and service tax incidence are included and duplicate refunds are prohibited. Administrative measures require immediate crediting after Let Export, a 72 hour grievance response target, a help desk and a cell to process supplementary claims.

Installation certificate requirement: importers must obtain authorised installation proof or engineer certification within prescribed periods.
Amendment requires authorization holders to produce to the concerned Regional Authority an installation certificate from the Jurisdictional Central Excise authority or an independent Chartered Engineer confirming installation of capital goods at the factory premises of the authorization holder or its supporting manufacturers/vendors within the prescribed post import period; for imported spares the installation certificate must be submitted within a longer specified post import period.

Port of registration expanded to include Indore; BRC descriptions must reference commercial invoice and packing list.
Adds Indore to airports listed under Port of Registration (paragraph 4.19). Revises Column 5 heading of Appendix 22A BRC to require the description of goods to match the Customs Authenticated Shipping Bill and the Commercial Invoice/Packing List.

Amendment to export allocation of raw sugar updates total and EU consignments; all other conditions remain unchanged.
Amendment to Public Notice revises the quantitative allocation of raw sugar by specifying a revised total quantity and a revised EU allocation, while confirming that all other conditions of the earlier Public Notice remain unchanged and that the amendment is issued in the public interest under the authority of the Foreign Trade Policy.

Summary disposal of pending appeals scheme enables remand and reframing of ex parte assessments after dealer application within seven working days.
The Special Drive for Disposal of Pending Appeals allows dealers who appealed ex-parte assessments or who could not produce statutory forms at assessment to apply in prescribed formats ('SDPA-X' or 'SDPA-F') with enclosures and proof of stay deposit; the Appellate Authority will acknowledge the application and issue an appellate/remand order directing re-framing of the assessment by the Assessing Authority within seven working days, and the scheme is operative only for a limited period.

Case allocation thresholds guide assignment of income-tax cases; delegated adjustment permitted to balance workload with recorded reasons.
Reiterates Board income limits for assigning cases between DCsIT/ACsIT and ITOs, extending the metropolitan threshold to Hyderabad. Allows the CCIT/DGIT to adjust the limit by up to a prescribed margin to remedy substantially uneven workload distribution, subject to recording reasons and informing the Board.

Monetary limits for appeals updated: tax effect excludes interest and recurring legal questions may be appealed regardless of limits.
The instruction clarifies that the tax effect for computing monetary limits means tax only, excluding interest, and substitutes prior guidance to allow appeals raising questions of law of a recurring nature to be considered on merits without being constrained by monetary limits; earlier instructions on departmental appeals continue to apply subject to these changes.

Import source registration introduced; pre-shipment inspection permitted for shipments with bills of lading dated before commencement.
Amendment substitutes ICD Tughlakabad with ICD Loni, Ghaziabad in para 2.32.2(b) and revises para 2.32.2(c) to introduce a new system of import from registered sources effective 1.4.2008, while allowing imports with Bills of Lading dated on or before 31.03.2008 to continue under the Pre Shipment Inspection regime per paragraph 2.32 of HBP Vol. I; the list of Pre Shipment Agencies remains available on the DGFT website.

Central Public Information Officer appointment: contact list published under RTI Act to provide designated information officers and contact details.
Sh. Praveen Jain is designated Commissioner of Central Excise, Delhi I and will act as the Central Public Information Officer under the Right to Information Act, 2005. Pursuant to Section 4(2) an updated list of the Appellate Authority, the CPIO and listed Central Assistant Public Information Officers is published, providing each official's designation, office address and contact details to facilitate public access to information.

Drawback rate revision: recalibrated all-industry duty drawback rates and administrative measures for prompt export crediting and claims processing.
Revision of the All Industry Rates of Duty Drawback recalibrates rates using input prices, SIONs, import shares, applicable duties and duty incidence on fuel and service tax; it introduces new tariff items, adjusts rates and caps across multiple sectors (notably textiles, leather, base metals, chemicals and plastics), removes caps for low-rate chemicals and omits excise on certain plastics in the CENVAT chain, and prescribes administrative measures for prompt crediting, dedicated cells for retrospective supplementary claims and escalation procedures for unresolved grievances.

Amendment to DEPB rates: revised export credit rates applied retrospectively from start of fiscal year under trade policy authority.
Amendment to DEPB rates issued by the Director General of Foreign Trade via Public Notice No. 18 amends Public Notice No. 17 and declares that the revised DEPB rates shall be effective from 01/04/2007, updating exporters' tariff credit entitlements and fixing the temporal application of those rates under the Foreign Trade Policy.

e-Payment collection procedure: banks accept electronic receipts centrally with commissionerate-wise scrolling and reconciliation.
Designated banks may accept electronic payments across Commissionerates while Focal Point Branches collate physical and e-payments to prepare Commissionerate-wise and Major Head-wise scrolls. A specified CBS branch will handle e-payments for Commissionerates without physical collection and prepare stamped receipted challans in four copies for distribution to the Pay & Accounts Office, taxpayers, and divisional officers. Reporting to the bank link cell and fund settlement with the Reserve Bank of India will follow existing Commissionerate-wise and Major Head-wise procedures.

Duty drawback rate revision increases export entitlements and mandates EDI-based online claim payment with rapid grievance handling.
Revision of All Industry Duty Drawback Rates for 2007-08 increases drawback percentages and revised caps across numerous export product categories, effective 1.4.2007. Rates were adopted following a Committee review using input prices, SION, import shares, applied duties and the inclusion of education cess, fuel duty incidence and service tax on input services. Customs implemented EDI so the shipping bill functions as the drawback claim and payments are credited on-line immediately after let-export order and manifest filing; Commissioners must address drawback grievances within 72 hours or escalate to Member (Customs/Export Promotion).

Amendment to DEPB rates updates export entitlement schedule; revised rates apply to shipments until further amendment.
The Director General of Foreign Trade, invoking powers under the Foreign Trade Policy and the Handbook of Procedures, issues amendments, additions and corrections to the Schedule of DEPB Rates by Public Notice, declaring that the revised DEPB rates apply to shipments with export dates up to the date specified and remain subject to further amendments; an annexure contains the detailed rate changes and a subsequent notice amended the sunset clause.

Advance Authorisation export procedure for ATF requires supervised supply to foreign aircraft with Shipping Bill, ADR and inspections.
Exports of Aviation Turbine Fuel under the Advance Authorisation Scheme require manual Shipping Bills with GR forms, endorsement of export particulars and next port, recording in the Advance Authorisation Alphabet Register, and opening of a serial file per licence. Appraising Officers must ensure invoices, GR forms, contract/LC, quality certificates where applicable, prescribed export declaration and a copy of the Advance Authorisation are appended; ARE 1 declarations must be verified. Supply is effected from Central Excise registered warehouse tanks under Customs supervision, with an Aircraft Delivery Receipt based on flow meter readings forming the basis for Shipping Bill endorsement and "Let Export".

SEBI amends Clause 41: companies may file audited or unaudited quarterly results with limited review and publication rules.
Revised Clause 41 allows companies to file audited or unaudited quarterly and year-to-date results within one month of quarter end; unaudited results must undergo a limited review with the report submitted within two months. Explanations for variations are required only for net profit/loss after tax and exceptional/extraordinary items where variation exceeds 10% or Rs. 10 lakhs. Companies with subsidiaries may submit consolidated results and must publish and disclose stand-alone or consolidated figures as prescribed. Quarterly results require Board or authorised committee approval, authentication by senior officers, and immediate submission to the exchange in specified formats, with compliance effective for accounting periods from July 1, 2007.

Infrastructure sector exemption: regulatory relaxations for government-linked issuers in IPO pricing, contribution, and lock in rules.
SEBI amended the DIP Guidelines to exempt government companies, statutory authorities/corporations and their special purpose vehicles engaged in an enumerated "infrastructure sector" from specified pricing restrictions, certain promoters' contribution requirements and minimum pre-issue holding rules, and to exclude such issuers from particular invitation/subscription clauses, adopting a detailed Explanation that defines infrastructure by categories of facilities/services and a residual Board opinion clause; the exemptions apply to draft offer documents receiving SEBI observations on or after the circular date.