Liberalised Remittance Scheme permits resident individuals to remit abroad for permitted current and capital transactions subject to limits and exclusions.
Authorised Dealers are delegated authority to release foreign exchange to residents for specified non trade current account and certain capital account transactions under FEMA, subject to schedule based prohibitions and referral to the Reserve Bank for amounts exceeding delegated limits; the circular prescribes categories of permissible remittances, self declaration and documentation thresholds (including simplified Form A2 and PAN requirement for the Liberalised Remittance Scheme), a 180 day surrender rule for unspent exchange, residency foreign currency account provisions, and operational conditions for cards, guarantees, advance remittances and reporting by AD banks.

Certificate of Origin authorisation expanded: EIC may issue Certificates under IMCECA following addition to Appendix heading.
Addition of IMCECA to the heading of Appendix 4D of the Handbook of Procedures Vol. I incorporates the India Malaysia Comprehensive Economic Cooperation Agreement into the Appendix's scope without changing its content. Consequently, the Export Inspection Council remains the authorised agency and is empowered to issue Certificates of Origin under IMCECA, effective from the operative date in the public notice.

Two-factor authentication for internet trading required to strengthen client authentication and secure order transmission.
Brokers must capture the IP address for all IBT/STWT orders, ensure high system availability, implement secure end-to-end encryption with mutual authentication, and protect systems against internal and external attacks. Systems should provide alternate authenticated communication channels upon failure, automatic logout for inactivity, and on-site plus remote backup and restore capabilities. Two-factor authentication, preferably PKI-based digital signatures from a government-certified agency with distinct factors, is recommended. Exchanges must monitor unauthorized access complaints, amend rules, notify members, disseminate the provisions, and report implementation status to the regulator monthly.

FCCB buyback rules: expanded automatic and approval routes allow premature repurchase subject to specified discounts and funding conditions.
Premature buyback and prepayment of FCCBs are allowed through expanded automatic and approval routes. Under the automatic route, buyback value must be at least an 8% discount to book value, funded from existing foreign currency funds (including EEFC) or compliant fresh ECBs, with applicable all in cost ceilings for short term or relevant maturities. Under the approval route, prior Reserve Bank approval is required and tiered minimum discounts on book value apply by redemption value bands; applications must be submitted through designated AD Category I banks to the ECB Division. The facility is effective immediately and must be completed by the specified cut off date.

Government-route FDI conversion permitted for import payables and pre operative expenses, subject to valuation, timelines, pricing and tax clearance.
Government route conversion into equity is permitted for import payables for capital goods and for pre operative/pre incorporation expenses, subject to compliance with import policy and FEMA import regulations, independent third party valuation and customs documentation for imports, disclosure of beneficial ownership, completion of conversion within 180 days of shipment or within the permitted retention period for advances, submission of FIRCs and auditor certification for pre operative expenses, direct payment by the foreign investor, a company special resolution, adherence to RBI pricing guidelines, and appropriate tax clearance.

Export controls on pharmaceuticals: exporters must provide Certificate of Analysis and permit sample retention for regulatory inspection.
Exporters must furnish a Certificate of Analysis at shipment issued by the manufacturer, an importing country approved laboratory, or a laboratory approved by the Drugs Controller under the Drugs and Cosmetics Act; port drug control officials may retain consignment samples for reference and tracking of the manufacturer or exporter.

Barcode traceability requirement deferred; staggered implementation set for tertiary, secondary and primary packaging with compliance timelines.
Deferment of the mandated trace and track system requires exporters to implement GS1-standard barcode serialization at primary, secondary and tertiary packaging levels with importer-specific exceptions; manufacturers must retain serialized export records for six months post-expiry, authentication features will follow, and a Central Portal will be established for tracing and tracking exports.

Cost audit requirement: specified manufacturing and mining companies must obtain annual cost audits and file prescribed reports under new rules.
Companies to which the Companies (Cost Accounting Records) Rules, 2011 apply and engaged in specified industries must have annual cost accounting records audited by a practising cost accountant or firm for financial years commencing on or after 1 April 2011 when turnover or listed-securities criteria are met; audits must follow the revised appointment procedure, produce reports under the Companies (Cost Audit Report) Rules, 2011, be filed in the prescribed format and timeframe, with exemptions for bodies corporate under special Acts and penalties for default.

Overseas Direct Investment transfer rules permit sale of foreign JV/WOS subject to specified conditions and reporting.
The Reserve Bank permits Indian parties to sell shares of overseas JV/WOS without prior approval where the sale does not cause write off, is on a listed exchange or at a CA/CPA certified fair value if private, the overseas concern has operated for at least one year and filed audited accounts and performance report, no dues or export proceeds are outstanding, and the Indian party is not under investigation; specified write off disinvestments are permitted without prior approval in enumerated cases subject to the same operational conditions; disinvestment details must be filed with the designated AD Category I bank within thirty days, otherwise prior RBI permission is required.

Debarment for failure to export cotton bars firms from future allocations; affected exporters may seek rectification with issuing authority.
Exporters issued Registration Certificates who failed to submit required shipment documents within prescribed time or who did not export the full allocated cotton quantity have been compiled by Regional Authorities and listed as defaulters; firms within a five percent tolerance were excluded. Listed exporters are debarred from future allocations and subject to penal action under the FT(D&R) Act, while those disputing recorded shortfall/excess or alleging timely submission may seek rectification from the RC issuing authority within three days with supporting documents.

Assignment of Show Cause Notice transfers adjudication to the designated Customs Commissioner for processing.
The Board assigns the Show Cause Notice in the matter of M/s Gee Kay International and others to the Commissioner of Customs, Customs (Preventive) Commissionerate, Amritsar for the purpose of adjudication, transferring adjudicatory responsibility from the issuing investigative unit to the designated customs adjudicator under the Board's statutory delegation. The assignment functions as an administrative transfer of adjudication authority and is circulated to relevant customs and revenue offices for processing.

Risk Management System applied to non accredited importers under the 100% EOU scheme; PC and bond procedures required.
Extension of the Risk Management System to non Accredited Clients under the 100% EOU Scheme is effective from 01.07.2011. B 17 bonds must be executed before jurisdictional Central Excise; at bill of entry filing the Procurement Certificate from Central Excise is to be presented in sealed cover to the EOU section superintendent, recorded in a PC register, processed with Transit Allowed procedures and TA number entered, jurisdictional Central Excise notified, and then the shed officer will tally the PC, debit/deface it, comply with CCR Examination instructions and grant Out Of Charge.

Time bound disposal of registration amendment and cancellation applications with procedural checks and penalties where applicable.
Time bound disposal of pending amendment and cancellation applications for registration certificates is mandated by a departmental schedule differentiating older and more recent applications and including cancellations for non functioning. Officers may invoke penalties for late amendment filings, must verify utilization and assessments for statutory forms before cancelling registrations, initiate recovery where needed, and obtain legal branch notification for every cancellation, with prior circular instructions remaining applicable.

Dispute Resolution Panel under section 144C constituted to address transfer pricing and international tax matters with immediate effect
The Board, in partial modification of a prior order and exercising powers under section 144C of the Income tax Act, constitutes a three-member Dispute Resolution Panel (DRP II) at Delhi by appointing three Commissioners/Directors to perform dispute resolution duties in addition to regular duties, effective immediately and until further order, with the Chairman's approval.

Deputation appointments for Deputy Development Commissioner require prescribed eligibility, documentation and a three-year deputation term.
Two Deputy Development Commissioner posts at Falta SEZ are to be filled on transfer on deputation from Central/State officers with specified eligibility including analogous post-holding or requisite service in feeder scales plus three years' experience in foreign trade or industrial development. Applications must be submitted within sixty days with five years' confidential reports, integrity and vigilance clearances and penalty history. Deputation normally will not exceed three years; selected officers may draw grade pay plus deputation allowance per Department of Personnel & Training instructions.

Extension of deputation: require advance, complete proposals with justification and public interest indication for approval.
Proposals for extension of deputation in Special Economic Zones must be sent by Development Commissioners complete in the prescribed proforma, including post details, officer name and tenure, officer willingness, NOC from parent office, period sought, explicit public interest justification, and the Development Commissioner's recommendation signed by the Head of Office, submitted sufficiently before expiry to permit departmental processing and approval.

Clearing pending e forms: Ministry mandates ROCs to review and dispose outstanding filings as a final opportunity.
The Ministry directed ROCs to clear legacy e forms filed before the revised Regulation 17 implementation that remain pending for want of stakeholder action by reclassifying them as Held in Abeyance to enable ROC review and disposal; companies must resubmit or furnish clarifications in Form 67 as required and stakeholders are asked to track items on the MCA21 portal and coordinate with ROCs to clear the backlog within the final opportunity timeframe.

Exemption under Section 38: import of Schedule 3 substances for non insecticidal use exempt from CIB and RC; Boric Acid excluded.
Under the Exemption under Section 38, Schedule 3 substances intended for non insecticidal purposes are outside the Act's regulatory scope and therefore imports so intended are not subject to registration or import permit requirements from the Central Insecticides Board and Registration Committee; Boric Acid remains subject to separate instructions.

Framing of assessments under Central Sales Tax Act: revised timetable issued for completion of pending assessments across years.
Corrigendum revises the timetable for framing of assessments under the Central Sales Tax Act, 1956, prescribing revised completion targets by assessment year and quarter for pending Central Act assessments, while leaving the remainder of the original Circular unchanged; the amendment is issued with the approval of the Commissioner (VAT).

Custom House Agent licensing: Commissioners must grant licences to all eligible qualified applicants without imposing numerical limits.
Board directs that Custom House Agent licences must be granted to all applicants who meet eligibility criteria and have qualified in the prescribed examinations, without imposing numerical limits; routine procedural requirements remain applicable. Commissioners must notify the trade, issue standing orders for field officers, submit a compliance report on licences granted by the stipulated deadline, and report any implementation difficulties to the Board.