Rectification of wrong remittances: procedure allows correction of payments made under incorrect accounting codes or registration numbers.
A procedure permits ratification of remittances made under incorrect accounting heads or registration numbers where genuine mistakes occurred. Eligible cases include payments posted to a wrong service under the same registration, to incorrect minor heads, or against a Central Excise registration instead of a Service Tax code. Assessees must submit representations with certified remittance challans, relevant returns and supporting documents through Range and Division; field formations will verify returns, payment authenticity, ledger corrections and attach a Range Officer verification before forwarding to the appropriate e-PAO or Principal Chief Controller of Accounts for adjustment.

Withdrawal of government appeals under litigation policy announced; listed appeals discontinued and stakeholders asked to publicize.
Withdrawal of appeals under the Departmental Litigation Policy: the Commissioner of Customs (Preventive), NER, Shillong has withdrawn specified departmental appeals before the appellate forum pursuant to CBEC litigation policy and departmental instructions. Trade associations, chambers of commerce and members of the Permanent Trade Facilitation Committee are requested to circulate and publicize the list of withdrawn appeals to their constituents.

Return filing validation: business-category determines permissible return types; assessees must align ACES registration immediately.
ACES now validates return types against the taxpayer's registered business category: ER2 restricted to export/special-scheme units, dealer returns restricted to dealers/importers, and manufacturers limited to ER1/ER3/ER8 with a requirement to maintain the same selected return type for the remainder of the financial year; affected taxpayers must amend ACES registration and obtain jurisdictional approval.

Revised excise return allowed: filers may submit corrected returns by month-end of original filing under new notification.
Revision of excise returns is permitted with effect from 17.8.2016 under Notification No. 42/2016: an assessee who filed an excise return (ER1/2/3) on or before the due date may submit a revised return by the end of the calendar month in which the original return was filed.

Provisional assessment security requirements: bank guarantee or cash deposit mandated; prior deposit requirement dispensed to ease clearance.
The Board rescinded the 2011 provisional assessment regulations and directed that provisional assessment under section 18 requires an importer to execute a prescribed bond undertaking to pay any duty deficiency and to furnish security as the proper officer deems fit; mandatory personal sureties are disallowed and security must be a bank guarantee or cash deposit, with security levels set by importer class and nature of the provisional assessment and calculated on duty differential.

Exemption for water supply services: construction and transmission works for government entities fall within service tax exemption.
Exemption applies to services provided to the Government, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation or alteration of pipeline, conduit or plant for water supply or water treatment, and to services by way of water supply, public health, sanitation conservancy, solid waste management or slum improvement and up-gradation; the scope of "water supply" includes construction of artificial sources and transmission works, therefore construction of tube wells is covered.

Client code modification rules clarified: strict criteria, monitoring, penalties and limited waivers apply to broker conduct.
Permits modification of client codes for non institutional trades only to rectify genuine entry errors-defined as communication/punching/typing mistakes with similar original and corrected codes or modifications among defined relatives. Trades shifted to a broker's Error account are not treated as code modifications if liquidated in the market and not moved to other codes; brokers must disclose error account codes, maintain an approved error policy, and exchanges will monitor flows. Exchanges allowing modifications must set Board approved objective criteria, monitor compliance, include modifications in internal audits, prohibit conversion between proprietary and client trades, levy penalties credited to the Investor Protection Fund, and may grant limited waivers with quarterly reporting to SEBI.

Exchange neutrality: exchanges must not sponsor media programmes discussing price outlook or trading recommendations and must bar staff participation.
Exchanges must preserve neutrality by not sponsoring or associating with media programmes, seminars, workshops or similar fora that discuss price behaviour, price outlook, trading strategy, buy/sell recommendations or other topics relating to commodity derivatives, and must prevent staff participation by adopting a suitable code of conduct, amending bye-laws, disseminating the provisions to brokers and reporting implementation to the regulator.

Hedge position limits: exchanges must adopt hedge policies granting non transferable limits tied to verified underlying exposures.
Exchanges must adopt and publicise a Hedge Policy granting incremental, non transferable hedge limits to bona fide hedgers after case by case assessment of underlying physical market exposure. Hedge limits require documentary verification (e.g., bank certificates, warehouse receipts), are not available for near month contracts once near month limits apply, and across exchanges must not exceed actual or anticipated physical exposure. Non compliance can attract expulsion, trading prohibition or other penalties; approved limits are time bound and hedgers must retain records for at least three years.

Customs Broker License renewal requires specified declarations, supporting documents and an application at least ninety days before expiry.
Renewal of a Customs Broker Licence requires an application filed at least ninety days before expiry, accompanied by specified declarations and supporting documents: confirmation of no change in constitution/address; no time expired/inoperative identity cards; accounts maintained as required; disclosure of pending judicial/quasi judicial cases; no departmental arrears; self attested copies of Form B licence, PAN, membership certificate where applicable, list of identity card holders with card numbers and validity, and payment evidence of the renewal fee. Processing is normally completed within sixty working days and approved renewals will be published monthly.

Removal of mandatory warehousing requirements: BIE for home consumption now required, single procurement certificate register instituted.
Removal of mandatory warehousing requires filing BIE for Home Consumption instead of warehousing BIEs, eliminating the need for Ex-Bond SIBs; a single consolidated Procurement Certificate register will be maintained and Procurement Certificates must be defaced by the authorised officer; adherence to the circular and notification guidelines is required and implementation issues must be reported to the office.

Duty free shops and special warehouses must keep computerized SKU records, file Forms A/B, integrate passenger sales daily in Form C.
Licensees of Special Warehouses and Duty Free Shops must maintain computerized electronic records (SKU-based) with an audit trail of receipt, handling, storage and removal of goods; file monthly returns in Form A and pre-expiry returns in Form B; keep digital passenger sales records in Form C integrated daily into warehouse records; obtain bond officer acknowledgements on receipt; follow prescribed escorted removal and sales accounting; furnish solvency certificates equivalent to duty liability (with limited exemptions); and bear customs supervision costs on Merchant Over Time or Cost Recovery bases as determined by licensing authorities.

Income Declaration Scheme valuation and disclosure rules clarified; holding period, indexation and treatment of fictitious liabilities specified.
Fictitious liabilities in audited accounts can be declared under the Income Declaration Scheme either as standalone liabilities when not linked to specific assets or as the fair market value of the linked asset when directly connected. Declarations do not affect finality of completed assessments but may be used in later assessments where a nexus exists. Valuation reports by registered valuers are accepted; misrepresentation by valuers invites legal action. Holding period for declared assets is the actual acquisition date, with indexation on declared amounts available only from the revaluation date. Mixed evidence immovable property must be valued part by part as per deed evidence and valuation rules.

Refund and adjudication in SEZs now follow customs and central excise procedures, with audits by designated customs officers.
Amendment provides that Refund, Demand, Adjudication, Review, and Appeal for authorised SEZ operations, transactions, goods and services shall be made by the jurisdictional Customs and Central Excise authorities under the Customs Act, the Central Excise Act and the Finance Act and related rules and notifications. It further mandates that audits of indirect tax matters in SEZs be conducted by customs officers drawn from a panel prepared by the jurisdictional Development Commissioner in consultation with the jurisdictional Chief Commissioner of Customs and Central Excise.

Deduction under section 35AC limited to payments up to previous year ending 31.03.2017; late applications barred.
Deduction for payments to associations or institutions approved by the National Committee for eligible projects is available only for payments in previous years ending on or before 31.03.2017; requests received after 31.12.2016 for grant, modification or extension of approval to cover up to 31.03.2017 will not be considered by the National Committee.

No Objection Certificate waiver for export consignments to specified countries; exporters must comply with importing-country regulations.
The requirement for a No Objection Certificate from port drug control offices has been removed for export consignments to specified countries to ease regulatory procedures for export of drugs, medical devices and cosmetics; exporters must nevertheless comply with the importing countries' regulatory requirements and report any difficulties to the issuing authority.

Service Delivery Excellence Model adds SAD refund claim disposal and assigns process owners for core customs services.
Implementation of the Service Delivery Excellence Model (Sevottam) at the General Commissionerate of Air Cargo Complex adds disposal of SAD refund claims to the services covered. The notice requires acknowledgement of written communications and conveyance of decisions, and designates process owners: ACAO (Admn) for acknowledgements, AC (Sevottam) for decisions, AC/DC (SAD Refund) for SAD refund disposal, and Supdt CIU for release of seized documents.

Transfer of right to use determines tax character: contract terms must show exclusive right to use to attract service tax.
Service tax liability for hiring, leasing or licensing of goods hinges on whether the contract effects a transfer of the right to use goods; if not, such supply is a declared service. Apply the Supreme Court criteria: goods available for delivery, consensus on identity, transferee's legal right to use (with permissions), exclusivity of that right vis-a -vis the transferor for the period, and inability of the owner to re-transfer the same right. Distinguish financial versus operating leases and dry versus wet leases as factual indicators; examine contract terms rather than assume generalisations.

Duty free pre import of fabrics under Special Advance Authorization enables claiming alternative AIRs of duty drawback on exported garments.
Special Advance Authorization allows duty free pre import of fabrics for incorporation into exports and permits exporters to claim All Industry Rates of Duty Drawback with the DGFT fixing the value of other inputs for value addition norms, while preserving the alternative to claim Brand Rate under Rule 7 where input values are on actuals; customs notifications exempt the fabrics, prescribe modified AIR suffixes based on Cenvat usage, and require a shipping bill identifier for provisional drawback processing.

Removal of mandatory bonding requirements allows EOUs and park units to operate without compulsory customs warehousing constraints.
Amendments remove mandatory warehousing and bonding formalities for EOUs and units in STP/EHTP/BTP by deleting requirements to obtain private bonded/warehousing licences and to execute customs/central excise bonds, replacing references to "bonded premises" with "premises of the unit," and substituting bond officer endorsements with jurisdictional officer endorsements; related form fields capturing bonding dates and consent are deleted and CST reimbursement and conversion procedures are adjusted accordingly.