Amendment of registration certificates: timely notification enables amendments; late or unsatisfactory filings may prompt penalty proceedings.
Amendment of registration certificates requires filing DVAT 07 with supporting documents and issuance of an acknowledgement receipt. The department reviews submissions for completeness, updates the I.T. system and issues DVAT-08 and the amended certificate (DVAT-06) when satisfactory. Late filings or deficient information trigger separate penalty proceedings and a clarification notice; lack of satisfactory response leads to rejection, reasons recorded on the I.T. system and referral to Enforcement Audit Branch. A fresh surety is required for changes in ownership, place, constitution or prolonged closure, while routine internal changes do not require a new surety.

Packing inclusion: ordinary wholesale packing necessary for marketability determines assessable value and attracts excise duty.
Section 4(4)(d)(i) includes the cost of packing in the assessable value unless the packing is durable and returnable; the operative test is whether the packing is the condition in which the goods are ordinarily sold in the wholesale market at the factory gate. If packing is necessary to make fragile goods marketable and is the normal mode of wholesale delivery (e.g., wooden crates for large glass sheets), its cost is includible; the burden to prove exclusion rests on the assessee.

Import of metallic waste and scrap now permitted only through specified designated ports under amended Handbook of Procedures.
Amendment to paragraph 2.32(i)(b) of the Handbook of Procedures (Vol. I) authorises import of metallic waste and scrap in unshredded, compressed and loose form only through a specified list of ports and inland container depots; the change is effected under Paragraph 2.4 of the Foreign Trade Policy and published by public notice dated 20/05/2005.

Export obligation for loaned precious metals imposes a strict jewellery export deadline; outright purchases remain exempt.
SEZ units obtaining gold, silver or platinum on loan from nominated agencies must export jewellery made from those metals within ninety days of release; this requirement does not apply to precious metals purchased outright from the nominated agencies.

No assets and no liabilities requirement in simplified exit scheme mandates companies satisfy that condition before administrative strike-off.
Regional Directors/ROCs must process prior section 560 applications and adopt a new affidavit clause (Annexure B, 6A) affirming the company "has no assets and no liabilities" as of the affidavit date. The "no assets and no liabilities" condition is mandatory for SES eligibility. Companies deemed defunct remain eligible but must comply with SES filing requirements-including affidavits, accounts and indemnities-before ROC will effect strike-off. Timely-filed applications may be rectified later; residence and identity proofs may be attested by Gazetted Officers or by Chartered Accountants/Company Secretaries, with affidavits as alternatives; section 25 companies are excluded.

Dividend payout ratio capped for banks; eligible banks may declare dividends only under prudential criteria and reporting obligations.
Banks may declare dividends only if they meet prudential eligibility criteria-minimum Capital Adequacy Ratio across relevant years, prescribed Net NPA thresholds, compliance with statutory and regulatory requirements, adequate provisioning and transfers to statutory reserves, payment from current-year profits, and absence of explicit regulatory restrictions-and then only within a capped dividend payout ratio determined by a matrix linking allowable payout ranges to capital adequacy and Net NPA bands, with adjustments for extraordinary items, auditor qualifications and specified reserve shortfalls.

DFCE claim deadline tied to notification of the revised Appendix, applications due within the prescribed filing period.
Clarifies that the last date for submission of applications for claiming DFCE benefits under Exim Policy 2003-04 shall be 90 days from the date the revised Appendix 17D is notified; this revises earlier guidance that had fixed the deadline from the Public Notice and had advised RLAs not to accept applications.

Bank Realisation Certificate verification triggers blocking of drawback sanction until exporters submit and Appraisers verify BRCs.
Exporters must submit BRC details through a new BRC Verification Module in the EDI system and provide hard copy BRCs and a generated checklist to the Appraiser (Drawback) within six months; the Appraiser will verify, accept or reject each BRC, maintain a register and retain copies. The system alerts the Assistant/Deputy Commissioner for non submission and automatically blocks sanction of the relevant drawback amount for the unrealised shipping bill until verification or realization, with recovery action available under the Customs Act and discretion to lift the block after realization.

Investigation Wing staffing parameters revised, increasing sanctioned officer posts and inspector support with immediate effect.
The order revises sanctioned strength for postings in the Investigation Wing by grade across DGIT(Inv.) regions, specifying Addl./Jt. DIT (Inv.), Deputy/Asstt. DIT (Inv.) and ITO posts, and directs a commensurate increase of two to three Inspectors per ADIT(Inv.)/DDIT(Inv.) plus supporting staff; the revised parameters take effect immediately.

Appendix five amendment adds authorised testing and certification agencies under the Foreign Trade Policy, updating Appendix entries.
The Director General of Foreign Trade, under paragraph 2.4 of the Foreign Trade Policy, has amended Appendix 5 of the Handbook of Procedures (Vol. I) by adding six new entries listing recognised testing, inspection and certification agencies with names, addresses and contact details in India and abroad for administrative and verification purposes.

Mandatory sampling and testing for chilli exports requires Spices Board certification of freedom from Sudan dyes and acceptable aflatoxin levels.
Compulsory pre export sampling and laboratory testing require Spices Board certification that consignments of chillies, chilli products and any food products containing chilli are free of Sudan I-IV and do not exceed acceptable Aflatoxin levels; consignments not containerized must be stack sealed pending clearance, container stuffing must be done in the presence of Spices Board staff with container numbers recorded, and specified packing and sampling procedures must be followed. A narrow exemption applies to consignments of whole chillies.

Customs and excise duty amendments introduce targeted exemptions, tariff adjustments and service tax reliefs following the finance bill changes.
Amendments effect targeted customs, excise and service tax changes: countervailing duty exemption for mobile handset parts; restored customs rate for degaussing coils; uniform additional duty on all computers including laptops; reduced duty and additional-duty exemption for monofilament long line tuna fishing gear subject to certification; extension of LPG household duty exemptions to propane/butane mixtures; increased optional excise on certain tyre cord fabrics; reduced excise on molasses and isolated soya protein; restoration of excise exemptions after tariff reclassification; and service tax exemption for farm income insurance premiums.

Duty drawback revision shifts most rates to ad valorem with HS alignment and streamlined EDI claim processing.
Revised All Industry Rates of Duty Drawback, effective 5 May 2005, apply Committee recommended rates determined by input prices, SION, import share and applied duties, with education cess and fuel duty factored in. Most specific rates are converted to ad valorem rates with specific caps retained; the Schedule adopts HS four digit classification and expands to about 2,620 entries. EDI at major customs locations treats the shipping bill as the drawback claim, enables online processing and prompt crediting after let export order, and requires resolution of exporter grievances within 72 hours. Requests for reconsideration may be submitted to the Drawback Division by 15 May 2005.

Duty Drawback Rates revised to ad valorem HS-aligned schedule, with instructions for prompt payment and grievance escalation.
Revised All Industry Rates of Duty Drawback take effect from the operative date and are recalculated based on input prices, SION norms, import shares and applied duties, with education cess and fuel duty incidence included. Rates are now principally expressed as ad valorem with specific caps retained where needed, and the Schedule is realigned to HS four-digit classification. The table format shows separate rates for when CENVAT is and is not availed. Administrative instructions require prompt crediting of drawback post let-export and escalation of unresolved grievances to the Board.

Line of Credit enables short-term export financing to PTA member countries under FEMA directions with specified validity.
A short-term Line of Credit by Exim Bank to PTA Bank finances exports of raw materials, commodities, goods and services to PTA member countries for tenors up to 180 days under an aggregate cap; the agreement became effective April 1, 2005, with specified last dates for opening letters of credit and for disbursement. Shipments must be declared on GR/SDF Forms, agency commission is ordinarily not payable (exporters may use own funds if needed), and Authorised Dealer Banks must notify exporters. The direction is issued under FEMA without prejudice to other statutory permissions.

BRC verification enforces foreign exchange realisation by blocking drawback sanction until valid BRCs are accepted.
A BRC verification module requires exporters to enter BRC details for drawback shipping bills filed on or after the effective filing date; a designated Customs Officer will verify BRCs against originals, record Acceptance or Rejection, and only accepted BRCs will be considered for drawback processing. The system will alert AC/DC (Exports) where BRCs are not submitted within the submission deadline and will block sanction of drawback to the extent of the unrealised shipping bill until clearance by AC/DC (Exports).

Standard input-output norms updated, altering input allowances and adding entries for chemicals, engineering and plastics.
Revisions amend the standard input-output norms in the Handbook of Procedures (Vol.2) 2002-2007 by updating and adding specific export-import mappings, correcting item descriptions and quantities, deleting obsolete norms, relocating entries between product groups, and adding conditional footnotes and value caps. Annexures introduce new chemical, engineering and plastics entries with exact input allowances; fuel and textile notes impose actual user conditions and captive power prerequisites and set product-specific fuel entitlements.

Vishesh Krishi Upaj Yojana export eligibility updated: specific tariff chapters and a minor forest produce list determine benefit access.
Amendment revises Appendix 37A to specify items eligible for benefits under the Vishesh Krishi Upaj Yojana, listing covered tariff chapters with stated subheading exclusions and appending a detailed schedule of Minor Forest Produce. The Notice clarifies that commodity entries labelled as "Others" at the eight digit ITC(HS) level in the listed chapters are excluded from scheme benefits.

Temporary exemption withdrawal over ECS payment printing requirement after bank merger; entities advised to take note.
SEBI withdrew a prior temporary exemption that had allowed registrars, share transfer agents and issuer companies to omit printing bank name and account details on dividend, interest and other cash payment instruments for investors with erstwhile Global Trust Bank accounts who furnished ECS details; the exemption is withdrawn following GTB's merger with Oriental Bank of Commerce and exchanges, depositories and RAIN are advised to take note and resume standard ECS payment instrument requirements.

Customs area designation expands storage for non-duty paid import and export cargo with port trust custody.
Notification designates the backyard adjoining 27 & 28 KPD in Khidderpur Dock II, measuring approximately 24,328 square metres, as a Customs area under Section 45 of the Customs Act, 1962 to provide additional storage for non-duty paid import cargo and export cargo, and appoints Kolkata Port Trust as custodian responsible for ensuring the safety and security of goods stored therein, with boundaries described by adjacent roads, sheds and the approach to gate No. 11.