Relaxation of Section 245 adjustment for small refunds enables faster refund processing and issuance after deemed no-objection.
Assessing Officers are directed to issue refunds in eligible non-CASS cases without adjusting outstanding demands under Section 245 where refunds or arrear demands fall within the small-amount threshold, and to treat taxpayer non-response to adjustment notices after 60 days as "no-objection" so that returns may be processed and balance refunds issued after adjustment with applicable interest; compliance report to be submitted to the Board by the stated deadline.

SEZ notification requirements tightened: complete checklists and state no objection required for notifications, de notifications and transfers.
Development Commissioners must forward complete, checklist-based submissions for SEZ full/additional area notifications, partial/full de-notification, name changes, and unit shifting, including State No-Objection, inspection report, DC countersigned Developer's Certificate, legal possession and non encumbrance certificates, certified land details, coloured maps, registered deeds, prescribed Forms (C4/C5/C6), DC certificates and 'No Dues' certificates; proposals must be hand-delivered by an officer not below DDC or returned if incomplete.

Limited scrutiny conversion requires a reasonable view supported by credible material before expanding enquiry to complete scrutiny.
The AO may convert a case from Limited Scrutiny to Complete Scrutiny only after forming a reasonable view, supported by credible material with a direct nexus to the issue, that underassessment is possible; conversion remains subject to existing monetary thresholds and administrative approval. Initial enquiries are confined to limited-scrutiny issues until proper conversion and taxpayer intimation; once converted the AO may examine additional issues and should use review mechanisms and the summary assessment provision to prevent fishing and roving enquiries.

Income Declaration Scheme compliance: revised declarations allowed but undisclosed payments must be declared to secure immunity.
Declarants may revise declarations before the Scheme closes provided revised undisclosed income is not less than earlier declared. The Scheme prevails over earlier reopening timelines. Declarations alone will not trigger CASS selection. Benami transfers regularising title where the beneficial owner paid consideration and declared fair market value do not attract capital gains or tax at source in the benamidar's hands. Confidentiality protections bar disclosure of valid declarations. Payments from undisclosed income must be declared to secure immunity. Form 3 timing equals payment deadline. Immunity extends to directors and partners. Quoted share valuation uses the exchange with highest trading volume.

Line of Credit terms impose sourcing and compliance obligations for exporters and authorised banks under FEMA directives.
Government-supported Line of Credit amended to reduce the facility finances eligible exports of goods, machinery, equipment and consultancy services under the Indian Foreign Trade Policy, requiring a substantial share of supplies to originate from India and setting specific terminal utilization periods for project and other supply contracts. Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or Exchange Earners' Foreign Currency accounts after realisation, subject to prevailing instructions and Authorised Dealer Category-I bank oversight. Directions issued under FEMA.

Export transhipment module: electronic ETP filing and TP bond-based permit governs container movement to gateway ports.
The Export Transshipment module in ICES requires transhippers to register a TP Bond/BG and file an ETP Application at the port Service Centre after Stuffing Report. The Preventive Superintendent approves the ETP, issues a printed permit that must accompany the container, and debits the bond/BG at approval. On arrival at the Gateway Port, preventive checks are completed and an "Allowed for Shipment" entry is made; the steamer agent files EGM for loaded Shipping Bills, the debited bond is recredited, and the ETP approval serves as EGM for export benefits with the Shipping Bill moved for Drawback processing.

Manual selection for scrutiny: mandatory case categories defined and e mail based paperless assessment extended in metros.
Manual selection mandates compulsory scrutiny of returns showing substantial recurring additions finalized or confirmed on appeal, survey cases where impounded books alter returned income, search and seizure assessments and returns filed after reopening, claims to exemption despite denial or cancellation of registration, entities claiming research or educational deductions, and cases with verifiable government intelligence of evasion subject to administrative approval. CASS 2016 operates in parallel, and e mail based paperless assessment is extended to specified metros with opt out and limited physical submission exceptions.

Duty Free Shops must keep SKU based digital records, file monthly returns, and reconcile passenger sales every 24 hours.
Licensees of special warehouses for Duty Free Shops must maintain SKU based electronic records of receipt, handling, storage and removal using mandated data elements in Form A with audit trail capable software; file monthly returns (Form A) and expiry period returns (Form B); record passenger sales digitally in Form C and integrate that data with warehouse records every 24 hours. Removals without duty payment require immediate electronic recording, bond officer escort to customs sale points, computer generated passenger invoices, and reconciliation of inflight sales; solvency certification and cost recovery arrangements for customs supervision are also prescribed.

Bonded container re-export requires timely extensions, prescribed particulars and valid reasons; off-hiring cannot justify delayed re-export.
Bonded imported containers exempt from customs and additional duty must be re-exported within six months, subject to a bond. A recorded-reason extension may generally be granted for three months, with further extensions available only for genuine difficulty and at specified approval levels; off-hiring is not a valid ground. Requests for movement permission and re-export extensions must contain prescribed container, vessel, bond, manifest and location particulars. Failure to obtain a valid extension may lead to duty, interest, bond enforcement and penal action.

Account opening documentation preference: clients choose electronic or physical delivery; brokers must provide and log documents accordingly.
Stock brokers and depository participants must provide specified standard documents in the account opening kit in electronic or physical form per the client's preference recorded in the account opening form; electronic delivery must be logged. Exchanges and depositories must keep these documents on their websites and inform clients. Exchanges and depositories must notify participants, amend rules for uniform implementation, and monitor compliance through half-yearly audits and inspections.

Assessment notice formats revised under section 143(2): three standardized templates and email-based communication option introduced.
CBDT has mandated three standardized templates for notices under section 143(2)-Limited Scrutiny, Complete Scrutiny and Manual Scrutiny-each providing an opportunity to produce evidence or submit communications, reserving issuance of specific questionnaires for adverse views. The circular directs use of these revised formats, updates to the ITD module, and offers an opt-in email-based assessment procedure using the return's email with option to nominate an alternate or opt out.

Know Your Customer requirements mandate KYC documentation for shipping lines and freight forwarders including ID, address, IEC, and authorisations.
Know Your Customer norms require shipping lines, container lines, agents/sub-agents and freight forwarders to collect photo identity, address proof, IEC copies, and letters of authority from persons booking containers; freight forwarders must additionally supply registration, employee letters of authority where applicable, and a declaration confirming collection of mandated documents. Compliance for recurring, unchanged transactions remains valid for a subsequent period. The same requirements apply mutatis mutandis to imports.

Extension of TRQ application deadline for maize gives state trading enterprises additional time to submit import quota applications.
Extension of the time limit for submitting completed ANF-2M applications for allocation of the Tariff Rate Quota on maize is granted under paragraph 2.04 of the Foreign Trade Policy (2015-20), relaxing Para 2.62(I) of the Handbook of Procedure and directing State Trading Enterprises to file ANF-2M applications with prescribed documents and fees to the DGFT by the revised deadline under the allocation framework of Para 2.60.

Purchase limit in Indian currency increased, allowing passengers to buy duty-free goods in rupees; DFSs must display INR prices.
Passengers may purchase goods at duty free shops in Indian currency up to the revised limit aligned with RBI rules; customs commissioners must inform DFS operators, ensure display of the facility and limit at shops and websites, and require display of prices in Indian Rupees and the applicable exchange rate (commercial bank rate or CBEC fortnightly rate). Operators must be familiarized with procedures for duty free procurement of excisable goods and any implementation difficulties should be reported to the Board.

Input-Output Norms amendment updates SION for upgraded ilmenite exports, revising export/import descriptions and entitlement formula.
Amendment revises SION A 1875 by specifying the export product as Upgraded Beneficiated Ilmenite (Synthetic Rutile) with declared Titanium Dioxide concentration and by listing permitted import items with specified quantities. Entitlement to imported inputs is to be calculated using the declared TiO2 concentrations of export and import items, applying a 13.6% wastage uplift on actual net TiO2 content; export and import documentation must state the specific TiO2 percentages.

Site definition determines exemption eligibility for goods manufactured on premises specifically designated in the construction contract.
The term site for exemption under Notification No. 12/2012 applies where: the premises are specifically made available to the manufacturer by explicit contract/agreement for the construction work; the goods claimed (notably goods under Chapter 68 except specified subheadings) are manufactured at those premises; and such goods are exclusively used in the said construction work as per the contract. Distance between manufacture and use is not a permissible disqualifying criterion; eligibility is to be determined on the contractual and factual matrix.

Excise duty on branded garments where retailer brands, labels or repacks products with high retail prices.
Excise duty applies to readymade garments and made up textile articles that bear or are sold under a brand name and meet the notified retail price threshold. Affixing a brand, labeling, repacking or similar treatments to render products marketable constitute deemed manufacture and can trigger excise liability. A broad definition of "brand name" is provided. Exemptions exist for products below the retail price threshold and for retailers whose annual aggregate clearances fall below the prescribed turnover limit (subject to a prior year condition). Mere shop naming does not create brand liability; liability arises only where the retailer affixes the brand and retail price label. Enforcement visits to retail outlets require specific inputs and senior approval.

Foreign exchange derivative rules set user classification, hedging limits, settlement rules and reporting duties across OTC and exchange-traded markets.
Foreign exchange derivative and inter-bank dealing directions under FEMA establish the framework for authorised persons, authorised dealer banks, standalone primary dealers, recognised stock exchanges and recognised clearing corporations in OTC and exchange traded currency markets. The directions define key concepts, classify users as retail or non-retail, and prescribe product permissions, hedging restrictions, settlement rules, limits on leveraged structures, and conditions for INR-linked and non-INR-linked contracts. They also set open position, gap, borrowing, reporting and trade repository requirements, together with separate rules for asset-liability hedging, gold hedging, capital hedging and inter-bank foreign exchange dealings.

Constitution of counsel panel invites applications for senior and junior standing counsels to represent indirect tax matters.
Announcement constituting a regular panel of Senior and Junior Standing Counsels to handle indirect tax cases; applicants must meet eligibility, terms and fee schedule as per specified legal communications (Annexure I and Annexure II), submit Proforma A to the Additional Commissioner at the zonal Central Excise office, and download required annexures from the zonal website before the stated deadline.

Ind AS implementation: phased reporting formats and temporary filing relaxations to facilitate transition for listed entities.
Listed entities must adopt Schedule III formats for Balance Sheet and Statement of Profit and Loss for reporting after Ind AS applicability, except banking and insurance entities which follow regulator prescribed formats. Until Ind AS Rules apply, AS Rules govern. Minimum quarterly/annual segment disclosures must include segment revenue (including inter segment revenue), segment results, segment assets and segment liabilities, with unallocated items shown separately and aggregate inter segment revenue deducted from segment revenue.