Portfolio disclosure requirement: monthly publication of debt oriented close ended and interval scheme holdings on AMC websites.
SEBI requires AMCs to disclose the portfolio of debt oriented close-ended and interval schemes as on the last day of each month, using the prescribed format, and to publish that portfolio on their website by the third working day of the succeeding month.

Maintenance of 335 J register required to ensure prosecution tracking and mandatory compliance reporting by field formations.
Field formations must maintain the 335 J register with full case details (SCN, adjudication orders, appeals, recovery and prosecution status), ensure monthly verification by Division and Headquarters Preventive/Anti-Evasion officers, record register-related findings in inspection reports, and submit compliance reports to Commissionerate and higher authorities confirming regular update and oversight of registers at Range, Division and Commissionerate levels.

Standard Input Output Norms updated for reinforced rubber hoses and timing belts, specifying component and rubber compound input ratios.
Amendment updates Standard Input Output Norms by broadening an import item description for reinforced steel wire braided rubber hose yarns and by adding two SION entries prescribing precise component and rubber compound input ratios for a reinforced hose with non alloy steel flanges/couplings and for timing belts, including specified synthetic rubbers, fillers, chemical inputs and capped antioxidant quantities per unit of export product.

Transhipment procedure: permission for import cargo via one intermediate customs airport subject to bond and reporting conditions.
Transhipment of import goods via one intermediate customs airport is allowed for foreign-to-local movement provided the carrier maintains a bonded transhipment warehouse under a double lock system and notifies the custodian and customs. The carrier files CTM/EGM copies with the bonded TP warehouse customs officer, who forwards documents and debits the bond. The intermediate and destination customs officers acknowledge EGMs and forward cargo; upon matching acknowledgements the originating bonded warehouse officer closes the TP entry and recredits the bond. The carrier is solely responsible for secure carriage and production of acknowledged EGMs.

Bond quantum under Advance Authorization and EPCG excludes interest; interest and charges payable on default per bond condition.
Bond and bank guarantee amounts under Advance Authorization and EPCG must equal only the duty ordinarily leviable on the goods but for the exemption; interest (simple or compound) is not included in calculating bond/BG quantum because it is penal and arises only on default. Bonds/BGs must, however, include a condition that interest and other applicable charges will be payable by the authorization holder in case of non compliance with scheme conditions.

Objection filing procedure: identical grounds may be attached once and noted on other period forms to avoid duplicate submissions.
The circular requires separate Form DVAT-38 filings for each tax period even when grounds are identical, with requisite revenue stamps on every form. A single comprehensive statement of facts and grounds need be attached once; other DVAT-38 forms must state in item No. 17 that the grounds are identical to the designated objection and need not enclose duplicate copies. Objections must be submitted in triplicate with a copy of the notice of assessment and contain clear facts, precise grounds and the relief claimed.

Supplementary duty credit scrip entitlement allows exporters to claim scheme-rate differentials for eligible exports where higher rates apply.
Regional Authorities must accept requests supported by related file numbers and a due-drawn differential statement (Annexure A) and grant manually issued supplementary freely transferable duty credit scrips for shipping bills where entitlement rates have increased or original claims have been restored or enhanced, without insisting on surrender of the original scrip, processing consolidated requests in the related main claim files to maintain records.

Pecuniary jurisdiction reallocations for appeals and objections; redistribution of departmental functions among Additional Commissioners and zones.
Jurisdiction for Appeal and Objection is reallocated among Additional Commissioners, assigning appellate and revisionary jurisdiction under the CST Act and erstwhile DST Act and objection-hearing jurisdiction under the DVAT Act by territorial zones and wards, and differentiating matters by pecuniary limit; specified lower-value appellate jurisdiction is allocated for particular wards to designated Additional Commissioners, and departmental operational and administrative functions are separately assigned.

Import of restricted items allowed against transferred DFIA where exports were completed before import restrictions, without separate licence.
Restricted imports may be permitted against a transferred Duty Free Import Authorization (DFIA) without a separate import licence where the underlying exports were completed prior to the imposition of import restrictions, excluding prohibited items and items reserved for import by State Trading Enterprises or otherwise specifically excluded by notification.

FII debt investment allocation: part through open bidding and remaining via first-come-first-served with per-entity cap and time-limited window.
Increase in the cumulative debt investment ceiling for Foreign Institutional Investors was allocated between an open bidding tranche and a residual tranche to be allotted on a time-bound first come first served basis, with the residual subject to a per-entity investment cap. Requests must be sent to the designated SEBI email and subscriptions under the first-come-first-served window must be utilized within the prescribed working-day period; custodians are required to inform their FII clients and the circular is available on SEBI's F.I.I. web page.

FCCB buyback deadline extended; completion required by new date and existing buyback terms remain unchanged.
The deadline for completing the entire buyback/prepayment procedure for Foreign Currency Convertible Bonds (FCCBs) under A. P. (DIR Series) Circular No.39 is extended to the revised year end; all other terms and conditions of the earlier circular remain unchanged and AD Category I banks must notify their constituents. The directions are issued under the Foreign Exchange Management Act, 1999 and do not affect permissions required under other laws.

Access to registered premises now requires written authorization by an Assistant/Deputy Commissioner for each visit.
Access to registered premises by officers above Inspector requires written authorisation for each visit by an officer not below Assistant/Deputy Commissioner; authorisations may be entered in a maintained register per the Annexure A proforma, with monthly review and signature by the Joint/Additional Commissioner and quarterly review and signature by the Commissioner; the requirement applies to investigation formations and prior inconsistent instructions are cancelled.

Statutory film certification exempt from service tax as a sovereign function; CBFC certificates not treated as taxable services.
Certification of films under the Cinematographic Act, 1952 is a mandatory statutory requirement to determine suitability for public exhibition. The Board has clarified that activities assigned to and performed by a public authority under law constitute a sovereign function and do not amount to a taxable service; accordingly, certification performed under the Act does not constitute a service subject to service tax and fees collected are not treated as consideration for levy.

Student transportation exemption: school operated or hired cabs for pupil conveyance are not subject to service tax.
Schools operating transport for students are not liable to service tax: school owned cabs do not constitute renting a cab and schools are not tour operators; hiring cabs for pupil conveyance is also excluded from taxable services under the Board's clarifications.

Business Auxiliary Services classification: ship broking treated as commission agent and subject to service tax.
Ship brokers act on behalf of shipping lines, ship owners and charterers by ensuring contractual compliance, monitoring cargo movement and facilitating freight payment; because they deal with goods and collect or ensure payment, their activities qualify as a commission agent and are leviable to service tax as a Business Auxiliary Service.

Employee remuneration not Business Auxiliary Service: commissions paid to directors as employment income are not taxable as services.
Commission payments to managing directors or directors that constitute remuneration for duties performed within the employment relationship are not to be treated as 'commission' under Business Auxiliary Service and are not leviable to Service Tax, because acts by an employee for the employer within the framework of employment do not amount to a separate taxable service.

Utilisation of accumulated CENVAT credit permitted after amendment where no clear legal prohibition bars its use.
Following amendment to the CENVAT Credit Rules effective 01.04.2008, taxpayers not maintaining separate accounts may either pay prescribed percentages on values of exempted goods and exempted/non taxable services or pay the CENVAT credit attributable to inputs and input services for those exempted supplies. Taxpayers with accumulated CENVAT credit balances as of the amendment date should not be denied utilisation of that accumulated credit after 01.04.2008 in the absence of an explicit statutory prohibition, since credit-taking and utilisation is a substantive right under a value added taxation scheme.

Business Auxiliary Service exclusion for contract manufacture: full manufacture not BAS-taxable; limited packing services remain taxable.
Levy of service tax on services in production of alcoholic beverages depends on the arrangement and whether the activity amounts to manufacture. Brand owners providing brand use and technical assistance render Intellectual Property Service and are taxable on gross consideration. Where a contract bottling unit performs the complete process amounting to manufacture, the exclusion in Business Auxiliary Service applies and BAS does not cover that activity; limited activities like packing or labelling remain taxable as BAS. Leasing a distillery attracts tax as Renting of Immovable Property Service.

Cenvat credit on goods used in tangible-goods supply service allowed when those goods are integral inputs to the taxable service.
Cenvat credit of excise duty/CVD paid on tangible goods supplied during provision of the Supply of Tangible Goods service is available to the service provider; such goods, including machinery, equipment, vehicles, aircraft and vessels supplied without transfer of possession or effective control, are to be treated as inputs under the Cenvat Credit Rules, 2004, provided the output activity falls within the service defined under Section 65(105)(zzzzj).

Abatement orders audit requirement affirmed; treat abatement as refund subject to standard pre and post audits.
Abatement orders under Rule 10 of the Pan Masala Packing Machine Rules are considered to be in the nature of refund and therefore must be subjected to the same administrative sanction, pre-audit and post-audit procedures as established by Board circulars for refund and rebate claims; all such circulars apply mutatis mutandis and field formations must implement and acknowledge the clarification.