Revised e-mail addresses enable trade members to submit requests and requisitions to designated officers for prompt response.
Notification of revised e-mail addresses for the Zonal Office of the Directorate General of Foreign Trade lists login IDs, e-mail addresses, names and profiles of designated officers, the computer cell and PS to ZJDGFT, and instructs trade members to use the indicated e-mail IDs to submit requests and requisitions for quicker response.

Extension of filing deadlines for reconciliation returns and declaration forms grants later submission dates for VAT returns.
The Commissioner, under rule 49A of the Delhi VAT Rules, 2005, section 9(2) of the Central Sales Tax Act, 1956 and related Central Sales Tax rules, extends filing deadlines for the reconciliation return in Form DVAT 51 and the 'original' portion of Declaration Forms C, E I, E II, F, I, J and H: returns for the first and second quarters of 2007 08 are extended to 18 August 2008 and those relating to the fourth quarter of 2007 08 are extended to 20 December 2008.

Taxation of imported services: recipient liable for service tax; credit allowed if service used as input for taxable outputs.
Services provided from outside India and received in India are taxed by treating the recipient as the deemed provider for levy purposes; the recipient must register and pay service tax though such services are not treated as output services for CENVAT. Service tax paid under this mechanism is available as CENVAT input credit only where the imported service is used as an input service in the manufacture of final products or in providing taxable output services.

Overseas direct investment by registered trusts and societies allowed in manufacturing and education subject to prior central bank approval.
Registered trusts and societies in manufacturing or education may undertake overseas direct investment in the same sector abroad with prior Reserve Bank approval; applications must be filed in Form ODI Part I through an AD Category I bank, which shall verify eligibility and KYC compliance, confirm three years' existence and absence of adverse regulatory notice, ensure governing body/trustee and constitutional authority for the investment, and verify any required special licences before forwarding the application to the Reserve Bank.

Port of Registration expansion adds specified seaports, airports, ICDs and LCSs and restricts transfers to notified exempted areas.
Amendment expands the Port of Registration list in Handbook of Procedures, vol. I by adding named seaports, airports, ICDs and LCSs. It also replaces the second sentence of paragraph 4.5 to provide that transfers shall not be allowed to units located in areas covered by specified Central Excise notifications, thereby imposing a restriction on transfers to units in those notified exempted areas.

Import restriction on rough marble: licensed imports limited to eligible domestic processors with entitlement allocations and user conditions.
Import of rough marble blocks, slabs and related calcareous stone under specified EXIM codes is restricted to licensed imports for 2008-09, available only to domestic manufacturers/processors with prior SIL-list import history. Licences must carry an endorsed floor price (later substituted by a public circular), total imports are subject to a yearly ceiling, individual entitlements are allocated based on eligible turnover certified by a Chartered Accountant, licences are subject to an actual user condition, and licence-holders must file monthly import returns; applications must be submitted on the prescribed form to the Regional Authority with a copy to DGFT HQ.

Drawback payment in core banking accounts enables exporters to receive credits nationwide via RTGS/NEFT from authorised customs bank.
Drawback payments will be credited to an exporter's core banking enabled account nationwide upon registration: the exporter must provide the IFS Code, account number and bank details in the prescribed format, obtain bank certification of the declaration, submit it for registration with the designated Customs official and verify via a signed checklist; account changes require re-registration. The customs-authorised bank branch will effect payment by crediting the same-bank account or transferring funds via RTGS/NEFT to other enabled banks, subject to central bank guidelines.

Standard Input Output Norms amended to permit specified imported raw wool and wool waste inputs for carpet exports.
SION for handknotted/woven/tufted woollen carpets, Indo Tibetan carpets and handmade wool druggets (durries) is amended to add specific import input allowances: imported raw wool (32 micron and above) as an input per unit of export, and carpets thread waste of wool as an alternative input; other import items remain unchanged.

Closure under Section 73(3) requires voluntary tax payment and officer certification to avoid show cause notices and penalties.
Closure requires the assessee's voluntary payment of the tax and interest and a written request for non issuance of a show cause notice; the investigating officer must certify absence of evidence for extended limitation and the Commissioner (or MMC/Additional Commissioner route as applicable) must approve closure before recording the case in a dedicated register and reporting it monthly to headquarters.

Dematerialisation requirement enables shift from trade-for-trade to rolling settlement upon meeting demat holdings and certification conditions.
Shift from the Trade-for-Trade Segment to rolling settlement is allowed for companies with connectivity to both depositories if at least half of other-than-promoter holdings are dematerialised, certified by the RTA or, if no RTA exists, by a practising Company Secretary or Chartered Accountant; exchanges must ensure no other grounds to continue TFT trading and report actions in their Monthly/Quarterly Development Report.

Bonded warehouse licensing authority clarified: Commissioners handle general cases while assistant/deputy retain jurisdiction for EOUs.
The Board reaffirms that licensing of public and private bonded warehouses and permissions for in-bond manufacturing are generally to be considered and decided at the level of Commissioners to ensure uniformity and prevent misuse; however, applications concerning export-oriented units (EOUs) shall continue to be considered and decided by the Assistant Commissioner or Deputy Commissioner of Customs.

Suspension of tax collection during mutual agreement procedure allows abeyance upon bank guarantee pending MAP resolution
On confirmation of MAP pendency by the Foreign Tax & Tax Research Division and receipt of the prescribed bank guarantee in model form, the Assessing Officer shall keep enforcement of collection of outstanding taxes, including related interest and penalties, in abeyance for the assessment years subject to MAP. The bank guarantee is treated as sufficient arrangement to permit this discretion and remains effective until MAP is resolved; if no resolution is possible or the taxpayer fails to accept or pay amounts determined under MAP, the guarantee may be invoked after consultation with the Indian Competent Authority.

Cenvat credit restriction: CVD paid on capital goods used for exempt services remains non claimable even after later taxation.
Cenvat credit of CVD on capital goods used exclusively for exempted services at the time of import is not allowable; credit that was ab initio ineligible does not become eligible when the activity is later made taxable, and expressly including such goods within the definition of capital goods will not permit recovery of past ineligible CVD credit.

Applicability of SWM (PC) Rules to assessment under Section 4A clarified; earlier circulars treated as redundant.
The Board, having declined to seek review in the Jayanti Food Processing matter, re-examined applicability of the SWM (PC) Rules, 1977 to assessment under Section 4A and consequently treated Circular No. 843/01/2007 as redundant and the illustrations in paragraphs 3 and 4 of Circular No. 625/16/2002 on bulk sales as redundant; trade and field formations are to be informed and receipt acknowledged.

Self-sealed export containers allowed direct port entry under free shipping bill status based on EDI checklist and documentation.
Self-sealed export containers under Free Shipping Bill procedures will be allowed direct entry into the port based on the EDI checklist; exporters must provide the factory examination report (Annexure C) clearly stating the Free Shipping Bill status to facilitate gate identification. Other self-sealed exports remain subject to the existing movement procedure.

Extension of validity for Sandalwood Oil export authorization, prolonging permit period under Foreign Trade Policy provision.
The Director General of Foreign Trade, under paragraph 2.4 of the Foreign Trade Policy, 2004-09, extends the validity of Public Notice No.95 (RE-2005)/2004-2009 read with Public Notice No.39 (RE-2006)/2004-09 to permit export of the balance quantity of Sandalwood Oil amounting to 1143.5 Kg until the specified extended date, issued in the public interest.

Extension of export validity for sandalwood oil under foreign trade policy preserves remaining export entitlement.
The Director General of Foreign Trade, invoking paragraph 2.4 of the Foreign Trade Policy, 2004-09, extends the validity of Public Notice No.38(RE-2006)/2004-2009 for export of sandalwood oil until the later specified date to permit export of the remaining allocation of 710 kg, issued in the public interest.

Drawback credit to core banking accounts nationwide permitted, with payments transferred via RTGS/NEFT after bank-certified registration.
Drawback payments may be credited to any core-banking enabled account nationwide or to RTGS/NEFT-enabled accounts in other banks after the exporter declares and registers the IFS Code, account number, bank name and address on a bank-certified declaration form with customs; the customs-authorized bank branch at the port of export will either credit the same-bank account or transfer funds via RTGS/NEFT to other banks, with transfers and charges governed by RBI guidelines and reverse scrolls sent to customs.

Parking of Funds in short-term bank deposits: mandatory disclosure of margin term deposits in half-yearly portfolio statements.
The circular clarifies that the prior instruction does not apply to term deposits placed as margins for cash and derivatives trading, withdraws the earlier related circular, and mandates that all term deposits placed as margins be disclosed in half-yearly portfolio statements under a separate heading with bank name, amount, duration and percentage of NAV.

Option to transfer IEC update to Regional Authorities allows cancellation confirmation and allotment of fresh IECs after verification.
IEC holders of STPI units may apply to designated Regional Authorities for cancellation of old IECs and simultaneous allotment of fresh IECs; cancellation requests received by Regional Authorities will be forwarded to the Zonal Joint DGFT CLA office for confirmation, and upon receipt of cancellation confirmation the Regional Authority will consider allotment of a fresh IEC within its jurisdiction. The previous O&M Instruction remains effective for residual cases and trade bodies are requested to publicise the facility.