Abolition of no-delivery period allows direct close-out of short deliveries for dematerialised corporate actions.
SEBI abolishes the no-delivery period for corporate actions in scrips traded in compulsory dematerialised mode, allowing direct close-out of short deliveries on a cum basis with mark-up pricing as per existing SEBI guidance. Stock exchanges must amend rules, notify members, publish the change, and report implementation to SEBI; the measure is issued under SEBI's investor-protection and market-regulation powers and applies from the stated effective date for relevant record dates or book closures.

Special Currency Basket value revision for deferred payment contracts, directing revised rupee conversion to apply to existing agreements.
Revision of the Indian Rupee conversion value for the Special Currency Basket applicable to deferred payment contracts concluded under the Deferred Payments Protocols of 30 April 1981 and 23 December 1985; the revised Rupee valuation set by the Reserve Bank of India is effective from the date specified in the notice and applies to all affected contracts between India and the former USSR.

Amendment to export promotion council listing updates FIEO Western Region contact details in the trade handbook.
Amendment to the Handbook of Procedures (Vol. I) updates Appendix 2 by substituting the contact details for the Federation of Indian Export Organisations, Western Region, replacing its address, telephone, fax and email to reflect the new office location in Andheri (East), Mumbai, issued under powers of the Foreign Trade Policy as a Public Notice to ensure accurate listings of export promotion councils.

Certificate of Origin-Non-Preferential: agency listing amended, replacing Nawanagar Chamber with Jamnagar Chamber under FTP provision.
The Director General of Foreign Trade amends Appendix 4 C (agencies authorised to issue Certificate of Origin Non Preferential) by replacing the Gujarat entry at S. No. 4: Nawanagar Chamber of Commerce & Industry is changed to Jamnagar Chamber of Commerce & Industry at Shri Digvijaysinhji Chamber Building, Jamnagar, with updated telephone, fax and email details; published as Public Notice No. 189(RE 2008) dated 21 July 2009.

Line of credit facility enabling financing for eligible exports to Sudan with specified sourcing and compliance conditions.
Grant of a Line of Credit by Exim Bank to the Government of Sudan finances eligible goods, services and consultancy from India for the Elduem Sugar Project, requiring at least 85% Indian-supplied value and permitting up to 15% foreign procurement (excluding consultancy). Shipments must be declared on GR/SDF forms; timelines for opening Letters of Credit and disbursements are tied to project completion or a set period from agreement execution. No agency commission is payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commission payments subject to remittance rules. Directions are issued under sections 10(4) and 11(1) of FEMA without prejudice to other approvals.

Withdrawal of administrative instruction curtails reliance on an outdated tax ruling that enabled offshore profit shifting avoidance.
The Central Board of Direct Taxes withdraws Instruction No. 1829 because it has been misapplied beyond its original consortium-based turnkey power project context; taxpayers have restructured and split contracts, loaded profits into offshore supply components, and resisted apportionment by reference to functions, risks and assets, so the instruction is withdrawn with immediate effect while preserving the Department's ability to argue in appeals that the instruction did not apply to particular facts.

Rescheduling of application timings: counter windows adjusted for receipt and delivery of licences, effective from notified date.
The Zonal DGFT office prescribes new counter windows as an administrative facilitation: discrete hours for receipt of same-day and regular applications, and a separate window for delivery of licences, with a specified implementation date when the timetable becomes effective.

Special currency basket valuation revised, effective date set, authorised dealer banks to implement under FEMA directions.
The Reserve Bank revised the rupee valuation of the special currency basket for Deferred Payment Protocols with the erstwhile USSR, fixing the operative value effective June 25, 2009, and directed Authorised Dealer Category I banks to implement the revision and notify concerned constituents. The circular states the Directions are issued under the Foreign Exchange Management Act, 1999 (sections 10(4) and 11(1)) without prejudice to other statutory permissions.

Reverse charge on imported services: input service tax credit permitted when such services qualify as inputs under CENVAT rules.
Reverse-charge treatment of services imported from abroad is a deeming device that makes such services subject to the ordinary charging provision; the reverse-charge provision does not itself charge a separate tax. Therefore, tax paid by the recipient under the reverse-charge mechanism is tax chargeable under the primary charging provision, and CENVAT credit for such tax must be allowed where the imported service qualifies as an input service under the CENVAT Credit Rules.

Taxability of co-developer lease proceeds clarified: administrative approvals do not prevent tax assessment by authorities.
Approval by the Board of Approval for lease terms, down payments, premiums or other receipts from co-developers does not affect their tax treatment; the Assessing Officer may examine and determine the taxability of such amounts under the Income Tax Act notwithstanding any BoA approval.

Administrative segregation in SEZ ports ensures separate handling and Customs control for DTA and SEZ cargo.
Ports within SEZs must be located in the non processing area and jointly demarcated by the Development Commissioner and jurisdictional Customs Commissioner, with separate secured entry/exit routes and storage to prevent mixing of SEZ and DTA cargo. SEZ cargo is handled by an authorized SEZ officer under SEZ Act/Rules, while DTA export/import cargo and related port functions including assessment and clearance are performed by an authorized Customs formation. The Customs Act and its rules apply to the demarcated port area.

Boundary wall height standards set discretionary DC authority for IT/ITES zones and specified options for other SEZs.
Guidelines prescribe boundary wall standards for SEZs: Development Commissioners determine wall height in IT/ITES SEZs; other SEZs are to follow the prescribed option of a taller solid wall or a lower wall with barbed wire augmentation; deviations must be referred to the Board of Approvals.

SEZ area modification procedures require DC verification and prescribed forms for additions and denotifications.
Requests to change SEZ area must be routed via the Development Commissioner with increases filed on Form Q and denotifications on Form R. The Development Commissioner must verify possession/ownership, non encumbrance, contiguity and vacancy for additions, and contiguity, vacancy, duty free benefits/exemptions and units/NOCs for de notifications. Modifications to non notified SEZs may be approved on file; changes to notified SEZs go to the Board of Approval. Minimum area requirements apply and reductions below prescribed minimums require higher level referral.

Foreign Direct Investment: promoter must retain majority shareholding under automatic SEZ route; reductions need prior Board approval.
SEZ policy permits 100% FDI on the automatic route, subject to a continuing majority shareholding requirement by the promoter; any proposal to reduce promoter shareholding below the majority threshold must obtain prior approval of the Board of Approvals before the reduction is effected.

Extension of in-principle approvals: grant subject to timely filing, implementation steps, and sectoral land thresholds.
A first extension of one year for in-principle approvals may be granted if the request was filed before LoA expiry and implementation steps like land acquisition have been taken; area approvals above 5000 hectares must be capped at 5000 hectares. Sector-specific rules govern a second extension: none for certain IT/ITES and similar SEZs; for other sector-specific SEZs developers must have sixty percent land acquisition/possession, and for multi-product SEZs fifty percent; non-complying cases go to the Board of Approvals. Amendment to allow further extension for multi-product SEZs is under process.

Transfer of SEZ approvals clarified into defined categories; transfers now governed by documentation and approval rules
Guidelines classify transfers of In-principle or Formal SEZ approvals into four categories-change of name without shareholding change; transfer to a wholly owned subsidiary or 100% SPV; court-ordered de merger; and transfers involving partial State ownership-and set these categories as the prospective framework for approval transfers. Applications must include the shareholding pattern at approval and after transfer. Cases outside these categories will be decided by the approval authority, and the Department will consult the revenue department to frame separate policy for other scenarios.

Default authorized operations allow developers to commence specified SEZ infrastructure works duty free upon notification.
Default authorized operations allow a Developer or approved Co Developer to carry out specified infrastructure and processing area activities in an SEZ from the date of notification and the Development Commissioner/Unit Approval Committee may permit supply of duty free material for these default activities. Distinct default lists are provided for IT/ITES/Biotech/Gems & Jewellery, Sector Specific, and Multi Product SEZs covering roads, water and sewage systems, electrical and fuel distribution, communications, effluent treatment where applicable, landscaping, processing/factory sheds, and limited office space for Customs and security. Activities beyond the default list require a separate detailed application to the Board of Approval.

Labelling approval for detached airway bill labels allows airline agents to relabel packages pending customs verification and approval.
Labelling of packages that have lost airway bill labels may be performed by airline agents in the presence of the custodian where shipper marks and numbers on unlabeled packages correspond with those on labeled packages and the total package count matches the airway bill; an application in Annexure I must be submitted to the IFO. The IFO shall give immediate approval when there is no doubt, or promptly inspect, record findings and refer to the Assistant Commissioner of Customs (Admn) if further orders are required.

Service tax on renting of immovable property: department instructs revenue protection measures pending appeal outcome.
The Department notes a High Court view that the renting of immovable property for business use does not automatically constitute a taxable service, but has filed an appeal and instructs service tax formations to safeguard revenue by pursuing payment or using legal remedies pending final disposal.

Automated e-mail enquiry for customs filings provides standardized subject-based requests and auto-generated status responses.
An automated e-mail enquiry facility allows importers, exporters and CHAs to obtain status details for Bills of Entry, IGM entries, Shipping Bills and Drawback claims by sending e-mails with prescribed subject-line templates to a designated address; replies are auto-generated and returned as attachments to the originating e-mail. Exact subject formatting is required, users must report any unfiled documents reflected against their IEC or CHA identifiers, and EDI support contact points are provided for technical assistance.