Computerized processing of Drawback shipping bills implemented; exporters must comply with ICES1.5 filing requirements and annexure conditions.
Computerized processing of Shipping Bills under the Draw Back Scheme at ICD Maliwada will be implemented in the ICES1.5 EDI system from 11.08.2010; exporters filing DBK Shipping Bills must meet the additional requirements in Public Notice No. 10/2009 (Para 3.5, Para 20, Annexures E and F) and follow the prescribed electronic filing procedures. Contact details for Superintendent of Customs, ICD Maliwada and Superintendent (Computers), Customs and Central Excise Aurangabad are provided for assistance with filing or queries.

EGM error correction: certified container and LEO documentation enables administrative rectification without formal application.
Procedure requires shipping lines to submit certified statements with container numbers and mate receipts for C-errors and prior shipping bills showing actual LEO dates for pre shipment L-errors; authorized AC/DCs in the EGM Co ordination Unit will verify and carry out corrections administratively without awaiting applications, subject to submission within the prescribed period and potential penal consequences for non compliance.

Additional duty refund procedure simplified: accredited clients get presumptive sanction, electronic filing and optional direct bank credit.
Accredited importers may receive full sanction of additional duty refunds on preliminary scrutiny of original duty payment challans, VAT/ST challans, an electronic summary of sale invoices and a statutory auditor/chartered accountant certificate confirming correlation of duty and sales and non-passing-on of duty; pre-audit is dispensed with and detailed verification deferred to post-audit. Paper invoices are not required, optional direct bank credit via RTGS/NEFT is authorised, CA certificate plus importer self-declaration substitutes for audited accounts, and claims are to be sanctioned within thirty days with monitoring for older cases.

De-notification of Customs Area rescinds prior Customs Area declaration, ending custodianship and facility operations by statutory authority.
MMTC Ltd. surrendered custodianship and notified intent to close the AGJCCC facility effective 31 March 2010; the Commissioner, invoking powers under Section 8 of the Customs Act, 1962, rescinded earlier public notices that had declared the premises a Customs Area for storage and clearance of specified imported and export cargo and removed MMTC Ltd.'s appointment as custodian.

Electronic records accessibility: officers may demand electronically readable records for CAAP audit under Rule 22(3) access provisions.
Assessees must maintain and, on demand under Rule 22(3), produce electronic records in a non proprietary, publicly readable format compatible with IDEA software for CAAP audits; these include electronic and hard copy documents, authenticated electronic media, audit trails, procedural documentation and source document inter linkages, with preservation and backup for five years and monthly printouts retained by record type.

OTC transaction reporting for Certificates of Deposit and Commercial Paper: reports to FIMMDA within fifteen minutes for market dissemination.
SEBI requires all regulated intermediaries to report OTC transactions in Certificates of Deposit and Commercial Paper to the FIMMDA reporting platform promptly after trade execution; FIMMDA will issue operational guidelines to implement the reporting process and the circular is issued under SEBI's investor-protection and market-regulation powers.

Options on USD INR spot rate permitted with cash settlement, specified contract design and real time margin framework.
Permit introduction of options on USD INR spot rate with product specifications: premium styled European calls and puts, rupee quoted premiums with USD underlying positions, cash settlement in rupees against the Reserve Bank Reference Rate, serial monthly and quarterly contracts, contract size of US$1000, defined trading hours, strike availability, expiry and automatic exercise rules, T+1 premium settlement, and a risk framework requiring Initial Margin based on worst scenario portfolio loss (using specified price and volatility scenario ranges and standard option pricing models) plus an Extreme Loss Margin.

Centralized ICES 1.5 migration centralizes document numbering and mandates electronic challan confirmation, altering filing procedures.
Centralized implementation of ICES 1.5 at Custom House Kandla migrates EDI operations to a national Data Centre, nationalizes document numbering, mandates electronic exchange and confirmation of duty payment challans with the designated bank, and requires submission of all pending Service Centre and shipping agent entries before migration. Service Centres remain under existing management and charges, certain customs outputs will be issued by designated officers post migration, PAN based CHA registration is required for exports, temp scroll generation is mandatory for DBK, and DEPB licences will be debited from a centrally maintained ledger across ICES 1.5 locations.

Grant funding not consideration for taxable service; service tax cannot be imposed on state agencies implementing central schemes.
The Circular states that central grants released under Centrally Sponsored Schemes to State governments for implementation are not consideration for taxable services; the administrative obligation of States to implement CSS does not make them service providers nor the Central government a service receiver, and levy or collection of service tax on State departments/agencies in such cases is not legally tenable.

Exchange traded currency options permitted for residents to hedge US Dollar Rupee spot exposure under RBI directions.
Permission is granted to introduce exchange traded currency options on the USD INR spot rate on recognized stock exchanges, limited to standardized premium styled European options with cash settlement in Indian Rupees and maturities up to twelve months, governed by the Reserve Bank's Exchange Traded Currency Options Directions and related amendments to the Foreign Exchange Derivative Regulations.

Assessee code mandatory in EASIEST - payments accepted only with valid codes; banks must verify and update directory.
Assessee code must be present and validated for EASIEST excise and service tax payments; banks must download the daily assessee code directory and use the online verification tool. If the code is in the directory or web service, accept the challan and digitize the location code as displayed; if absent from both, direct the assessee to seek correction from the tax authority. From September 1, 2010, central system uploads will be accepted only with a valid assessee code.

PAN requirement: demat accounts non-compliant with PAN will be suspended for credits, barring automatic corporate actions.
SEBI requires PAN verification for demat accounts and directs that PAN-noncompliant accounts, previously suspended for debit, will also be suspended for credit except for credits from automatic corporate actions; credits from public offers, rights issues, off-market transfers, and secondary market transactions are prohibited. Depositories must amend bye-laws, notify DPs and Beneficial Owners, and disseminate the rule on their websites to enforce KYC compliance.

Document submission and verification procedures require certified copies at filing and restrict routine demand for originals.
Mandatory procedures require authorized representatives to present identity and authorization and for Importers/CHAs to submit certified copies of documents at filing. CMC records and routes dockets to docks or assessment groups; assessments use online data and certified-copy dockets without routinely calling for originals, with any doubts recorded in Examination Instructions. Post-assessment docks verify originals and feed online reports; license debits occur online where available or manually otherwise. Sections must promptly pass dockets and avoid unnecessary queries to ensure timely clearance.

Refund of additional customs duty: deadline runs from date of payment, not from provisional assessment finalization.
The one-year refund limitation for additional customs duty runs from the date of payment of duty at import clearance, not from finalization of provisional assessment; pending claims must be disposed of without awaiting assessment finalization and field formations should issue Public Notices and Standing Orders to guide trade and staff.

Customs EDI migration centralises document processing and mandates pre cutover submissions to avoid re entry after migration.
Migration of local ICES operations at Custom House, Mundra to centrally hosted ICES 1.5 requires completion of all Service Centre submissions and cash manager queues before cut over; document numbers will be assigned centrally and not remain locally sequential; duty payment challans will be exchanged electronically with the designated bank; DEPB licences will be held in a common central ledger for automatic online debits at ICES 1.5 locations, while TRAs will be issued and registered for non EDI or legacy locations.

ASBA facility requirement: mutual funds must offer ASBA for all new fund offers from the revised effective date.
Mutual funds must provide Applications Supported by Blocked Amount (ASBA) as an additional payment mode for New Fund Offers, with the mandatory implementation date revised to a later effective date; the circular imposes a compliance obligation on Mutual Funds and Asset Management Companies to offer ASBA for NFO subscriptions under the regulator's statutory powers to protect investors and regulate the securities market.

Package marking requirement mandates durable stencil numbering; unmarked exports barred from examination and shipping bill registration.
Export consignments must be durably stencil marked and serially numbered to show the total packages covered by the shipping bill; carting permission, an exporter-signed checklist, and custodian endorsement of quantities are required for entry to the export shed. Customs will register shipping bills and permit examination only after the full consignment is received with proper marking and numbering, and unmarked packages will not be examined. Non-compliance by exporters, CHAs or CFSs will lead to appropriate legal action.

Standard Input Output Norms amendment updates input and packaging specifications for glass containers under SION.
Amendment to the Handbook of Procedures (Vol.2) revises the Standard Input Output Norms (SION) for chemical and allied products by updating input composition and packaging specifications for glass containers under SION A3627, replacing existing import-item entries with a detailed per-kilogram breakdown of glass formers, intermediates, modifiers, special additives, and specified packaging materials, and including a proviso limiting borax/boric acid to a stated maximum per kilogram.

Specification flexibility allows exports under specified SION entries to meet foreign buyer purchase order specs instead of Chapter 27 standards.
An amendment to the Handbook of Procedures, Vol. II appends Note 2 to SION entries A-2687, A-2688, A-2689, A-2690 and A-3625 clarifying that specifications in Chapter 27 of the ITC (HS) Classification need not apply to exports under those SIONs provided the exported products meet the specifications specified by the foreign buyer in the purchase order.

Import restriction on old and worn clothing requires stronger fines and mandatory fumigation before customs clearance.
Import of old and worn clothing is restricted under ITC(HS); adjudicating officers must impose fines and penalties that reflect the margin of profit on unauthorized imports rather than nominal penalties, and consignments will be cleared only after proper fumigation at the importer's expense, with field formations required to ensure strict compliance and issue public notices.