Safe Harbour Rules: AOs must verify Form 3CEFA filings and report options; inaction leads to deemed acceptance.
Safe Harbour Rules require Assessing Officers to identify and examine all Form 3CEFA filings, decide within the statutory time limit whether to accept the Safe Harbour option or refer it to the Transfer Pricing Officer, allow rectification for minor defects without extending the time limit, verify eligibility and international transactions, and furnish certified details of options filed to supervisory and central authorities.

Deferred tax liability on special reserve required; banks must create DTL and adjust prior uncharged amounts.
Banks must recognise a deferred tax liability on the Special Reserve created under Section 36(1)(viii) per Accounting Standard 22. Unrecorded DTL as at March 31, 2013 may be adjusted directly from Reserves with disclosure in the 2013-14 Notes to Accounts. From the year ending March 31, 2014, DTL on amounts transferred to the Special Reserve should be charged to the Profit and Loss Account. The entire Special Reserve may be reckoned for computing Tier-I capital.

Risk management system selection may trigger export consignment examinations unless exporters correctly declare factory stuffing and seal type.
RMS implementation may cause factory stuffed containers to be selected for physical examination, including random picks; this commonly results from incomplete or misplaced entries in the Shipping Bill/check list-notably omission of factory stuffing status, seal type (Authorized/Self/Warehouse), Central Excise examination status, or reward scheme claims in designated fields. Exporters and Customs Brokers must enter all required particulars, including Annexure C details (except container-specific numbers when unknown), at filing to minimize examinations and delays; incorrect declarations at registration can prompt detailed inspection prior to grant of LEO.

Special Audit under Section 58A: auditors must secure documents, escalate tax classification queries, and submit Form AR-1 reports.
The Special Auditor must identify the dealer by name and TIN and audit period, jointly procure documents with the Assistant Commissioner, escalate classification or taxability queries to the Addl. Commissioner (Zone) and Addl. Commissioner (Audit) for clarification, and communicate by email with copies to zonal and audit officers. The auditor shall inspect branches as needed, brief supervisory officers on significant detections, submit a detailed Form AR-1 audit report covering departmental risk parameters in three copies to designated commissioners, comply with departmental billing rules, and provide presentations or assistance during assessment proceedings.

Assignment of Show Cause Notice to designated Commissioner for adjudication under the Customs Act administrative framework.
The Board, invoking Notification No.15/2002 Customs under sub section (1) of section 4 of the Customs Act, 1962, assigns Show Cause Notice F. No. VIII/48/06/2013 DRI dated 16.09.2013 issued by the Directorate of Revenue Intelligence, Chennai to the Commissioner of Customs (Seaport Import), Custom House, Chennai for the purpose of adjudication.

Inflation-indexed savings bonds: CPI-linked interest plus fixed margin, ten-year maturity with limited early redemption and penalty.
Issuance of Inflation Indexed National Savings Securities-Cumulative, 2013: resident individuals, HUFs, qualifying charitable institutions and universities may subscribe within prescribed minimum and maximum limits. Bonds issued at par are held in Bonds Ledger Accounts with RBI; subscriptions accepted through authorised banks/SHCIL with KYC compliance. Interest equals a fixed rate plus inflation based on combined CPI (2010=100) with a three month lag, compounded half-yearly and paid at maturity. Bonds are non-tradable but eligible as collateral. Ten year repayment; early redemption after specified holding periods subject to a fifty percent of last coupon penalty.

Deposit requirements for debt-segment members require specified deposits for clearing members and limited exemptions for existing or gross-only clearers.
Deposit obligations for the dedicated debt segment require Stock Broker/Proprietary Trading Members to comply with the Base Minimum Capital requirement; Clearing Members and Self Clearing Members must deposit ` 10 lacs with no exposure to be granted against that deposit. Exemptions apply where the entity is already a CM/SCM or stock broker in another segment, or where a CM/SCM clears and settles only on a gross basis with no settlement guarantee. Stock Exchanges and Clearing Corporations must amend rules and implement systems within one month and report implementation to SEBI.

Periodic Call Auction rationalization narrows illiquidity criteria, mandates minimum auction sessions and allows order carryover.
Rationalization tightens the Periodic Call Auction framework by defining illiquid scrips through a low average turnover measure applicable across all trading exchanges and prescribing exclusions based on market capitalization, dividend history, and a combined profitability, pledged promoter holding and book value test. Exchanges must keep a scrip in the auction for at least one quarter, provide at least two daily auction sessions with a uniform closing session, allow orders to remain valid all day and carry un matched orders into the next session, and implement systems and bye law amendments from the next quarter.

Opaque structure exemption: ring fenced regulated FIIs avoid opaque classification where broad based funds and disclosure undertaking exist.
An FII or sub account that must ring fence assets and liabilities by home law is not treated as having an opaque structure if it is regulated in its home jurisdiction, each fund or sub fund is broad based, and the applicant undertakes to provide beneficial owner information when requested by the regulatory authority.

Declaration of CFS required at assessment for FCL cargo; changes may be permitted by the assessing shed officer during carting.
Exporters of Full Container Load shipments must manually declare the Container Freight Station on the hard-copy checklist of the shipping bill at assessment; assessing officers must record that the goods are to be carted and examined in the declared CFS. Changes to the declared CFS at carting time may be permitted by the Assistant/Deputy Commissioner of the assessing shed.

Reversal of input tax credit required when credit or debit notes change taxable purchase value, excluding cash discounts.
Reversal of Input Tax Credit is required where a credit or debit note changes the tax credit claimed by a purchaser for Delhi sales/purchases; purchasers must adjust ITC in the period the note is issued. Credit notes arising from post sale discounts, returns, rate/quantity variation, consideration for facilities, or expense reimbursements trigger purchaser ITC reduction; cash discounts for early payment are excluded from output tax adjustment and need not be reported or lead to ITC reversal.

Service tax registration surrender procedure requires ACES filing with specified documents; pre migration registrations can use manual surrender.
Procedure requires electronic filing of surrender applications via the ACES module with submission of a signed printout and supporting documents to the jurisdictional Superintendent or Centralized Surrender Cell; required documents include Annexure I application and undertaking, up to six ST 3 returns, profit & loss and balance sheets (or alternative evidence), and Annexure II disclosures of show cause notices, demands, appeals, audits and investigations. Pre migration registrations may file manually; the Superintendent processes requests, may seek reconciliations (with specified exemptions), and will notify cancellation by e mail, subject to a 15 day cure period for deficiencies.

On the spot IEC application scrutiny ensures deficient submissions are returned immediately and only complete applications are accepted.
Creation of an IEC Assistance Cell at the IEC counter to verify IEC applications and supporting documents on the spot; deficient applications will be noted in the margin, returned immediately to the applicant and not recorded as 'Received', while only applications complete in all respects will be accepted and acknowledged.

Relaxation of time-frame for intimation under section 143(1) allows processing and issuing intimations in delayed refund cases.
The Board, invoking its general powers, directs that returns filed with refund claims which were not intimated within the prescribed time due to technical or other reasons not attributable to the assessee and whose intimation deadline lapsed before 01-04-2013 shall be processed and intimations issued by the Assessing Officer notwithstanding the statutory time-limit; the relaxation applies only to refund cases where no demand is shown or determined and progress is to be monitored by Additional/Joint CIT.

Import of power generating equipment under EPCG scheme: stakeholders invited to propose methods for counting export obligations.
DGFT seeks stakeholder views on permitting import of power generating equipment under the EPCG scheme despite Notification No.7 disallowing such imports, requesting proposals for methods to satisfy the Export Obligation-including using imputed value of power or treatments for common service providers-when power itself is not directly exportable, and inviting feedback to the designated contact by the stated deadline.

Shift from Trade for Trade Settlement allowed where dual depository connectivity and required dematerialisation certificate are in place.
Shift from Trade for Trade Settlement to Normal Rolling Settlement is permitted where listed companies have connectivity with both depositories and at least fifty percent of non promoter holdings are dematerialised, certified by the Registrar and Transfer Agent or, if no separate RTA exists, by a practising Company Secretary or Chartered Accountant; exchanges must ensure no other grounds for TFTS continuation and report actions in their development reports.

Special Currency Basket valuation revised, requiring authorised dealer banks to apply new rupee conversion and notify constituents under FEMA.
Revision of the Special Currency Basket rupee valuation is fixed at the updated value to apply from the specified effective date; Authorised Dealer Category I banks are required to apply this revised rupee value in their dealings and to notify their constituents. The Directions are issued under FEMA and are without prejudice to permissions or approvals required under other laws.

Dispute Resolution Panel under section 144C constituted; members and reserve appointed and duties additional, effective from date.
Order constituting a three-member Dispute Resolution Panel for Hyderabad with a specified reserve member; named officials are appointed to the panel, required to perform DRP duties in addition to regular duties, effective from the stated date and issued with administrative approval under the applicable dispute-resolution rules.

Submission of production and consumption data mandatory for listed SIONs; non submission bars Advance Authorisation and DFIA benefits.
Notification identifies six SIONs in Chemicals & Allied Products for review and requires manufacturers and Export Promotion Councils to submit revised data in ANF 4B, including mandatory production and consumption data, as per para 4.10.1 HBP vol.1; failure to provide the required data by the specified deadline will result in stoppage of the benefit of Advance Authorisation and DFIA for export products covered by these SIONs.

Ban on Thuraya satellite phones: mandatory brand declaration and confiscation risk for unlicensed devices in Indian waters.
Ban on Thuraya satellite phones requires steamer agents and masters to declare Thuraya, Iridium and similar satellite phones in the Pre Arrival Notification and in vessel stores and private property lists, specifying the brand/make. Agents must sensitize crew about the ban. Customs may inspect for usage in Indian waters and unlicensed or prohibited Thuraya/Iridium devices found in possession or use are liable for confiscation.