Storage and transshipment of excisable goods in bond permitted, with exporters responsible for invoice-matching and export verification.
Storing and transshipment of excisable goods cleared in bond under Rule 13 is permitted without prior departmental permission, subject to exporters meeting the export time-limits and proof/remittance requirements of the governing notifications. Exporters may establish transshipment stockyards after intimation to Central Excise, must maintain a register of invoices, quantities received and despatched, prepare challans where vehicle-specific invoices are absent, accompany vehicles with a signed photocopy of the invoice, and ensure Land Customs endorse the invoice only after full material indicated is exported.

Interest on delayed service tax clarified: treat spanning parts of two months as a single monthly interest period.
Clarification: interest under Section 75 for delayed service tax is simple interest charged for the period of delay; where payment falls on the first day of the next month after a mid month due date, the delay should be treated as a single month measured from the day after the due date of the first month to the due date of the next month, and interest charged for one month only.

Import of plastic waste: DGFT removes specific exclusion wording from a Handbook provision, altering import regulation.
The Director General of Foreign Trade amended Chapter 5 of the Handbook of Procedures, Vol. 1 by deleting the words "All types of plastic wastes / scrap (except PET bottle waste / scrap) and" from para 5.3(b), under authority of the Export and Import Policy and by Public Notice No. 56(RE-98)/1997-2002 dated 13 November 1998.

Export flexibility for cotton yarn allowed without count or domestic sourcing restrictions, subject to ceiling allocation and certification conditions.
Policy permits 100% EOUs and EPZ units producing cotton yarn to export yarn without count or domestic cotton sourcing restrictions subject to an overall quantitative ceiling with allocation by TEXPROCIL. Composite spinning and weaving units may export yarn without these restrictions after installation and certification as a balanced unit and commencement of commercial production, provided yarn exports do not exceed fabric exports in value terms and are governed by the Letter of Undertaking on export obligation.

Courier clearance: expanded procedures impose stricter registration, security obligations and reinforced enforcement for misdeclaration.
Assessment and clearance of goods through courier mode provide procedures for imports and exports by passenger or cargo flights, permit courier companies or the aircraft person in charge to perform import functions and sign the Courier Import Manifest (with responsibility for mis declaration), require registration with bonds and security per Customs House, allow Commissioner suspension of registration pending enquiry with appeal to the Chief Commissioner, and mandate selective scrutiny and random examination with strict action for mis declaration.

DEPB rate amendments change export product descriptions and impose shipment declaration and export obligation rules.
DGFT amends Handbook Vol. I Appendix 28A to revise DEPB rates, product descriptions and value caps for specified chemical, engineering, textile, leather and fish products, with Annexure B rates effective from 15.4.98. Shipping Bill declarations are required for certain processed fish and aquaculture shrimp exports. A prior Public Notice is corrected. An export obligation is prescribed as 1.5 times CIF value of imported hardware including software plus 1.5 times the wage bill, with hardware obligations over four years and wage-bill obligations annually; Net Foreign Exchange follows the Software Policy definition.

Export ceiling allocation splits remaining coarse-grain entitlement between public sector and private exporters, preserving existing terms.
The circular establishes a total export ceiling for coarse-grain for the licensing year 1998-99, confirms that the overall ceiling includes an earlier released sub-ceiling, and directs bifurcation of the remaining balance between public sector undertakings and private exporters, with all other terms and conditions of prior policy communications remaining unchanged.

Limited scrutiny authorisation permits expedited completion of selected income tax returns filed during the finance year under prescribed parameters.
Instruction empowers the Chief Commissioner of Income Tax to authorise assessing officers to complete limited scrutiny of returns filed in the finance year, with cases to be selected under parameters of Board Instruction No. 1938 and any norms prescribed by the CCIT; all selected cases must be prioritised and completed within the stated limited period, and compliance is to be ensured by the CCIT.

Special Currency Basket valuation updated for USSR deferred payment contracts, altering rupee conversion for covered protocol periods.
The notice revises the Indian rupee valuation of the Special Currency Basket for deferred payment contracts under the Indo USSR Deferred Payments Protocols of 30 April 1981 and 23 December 1985, and states that the revised valuation applies to contracts for deliveries of machinery and equipment from the erstwhile USSR to India entered into under those protocols.

Re-export authorisation for bonded warehouse diamond consignments permitted where competent administrative approval exists and customs rules are followed.
Re-export of rough diamonds from Private Bonded Warehouses in EPZ or DTA is permitted under an Exim Policy exception notwithstanding restrictive provisions, subject to applicable customs warehousing procedures and the condition that the Development Commissioner or Board of Approval has authorised the re-export.

Export obligation on software units defined to include imported hardware value and wage bill, with phased fulfilment and certification.
The Handbook of Procedures (Vol.1) (RE-98) is amended to require licence holders to regularise export shortfalls by surrendering a Special Import Licence at a multiple of CIF imports on a pro rata basis; to expand manufacturer exporter eligibility based on excise registration and prior exports absent penalities; to permit EPCG licences to be issued on Development Commissioner NOC without Committee reference; to add Certificate of Origin agencies and FOB reporting columns; and to prescribe a software unit export obligation measured on net foreign exchange combining imported hardware and wage bill components with staged fulfilment.

Standard input output norms amended: revised SION tables and new sectoral entries govern allowed imports against specified exports.
Amendments to the Handbook of Procedures, Vol.2 revise and add Standard Input Output Norms (SION), substituting norm tables, correcting export/import descriptions, adding alternative permitted inputs and sector notes, and introducing multiple new SION entries across Chemicals, Engineering, Food, Plastic, Textile and Miscellaneous product categories as set out in Annexures A-G for application in export-import clearances.

Container re-export obligations: stricter monitoring, bond enforcement, and tightly limited extensions to prevent domestic diversion.
Imported durable freight containers are exempt from customs duty if re-exported within six months under a bond; extensions should not be routine. Separate accounts and bonds must be kept for loaded and empty containers, re-export bonds monitored, and demands under bonds issued on expiry. Assistant Commissioners may grant a written-record extension beyond six months up to three months; extensions beyond nine months are generally precluded, though the Commissioner may grant further time for genuine difficulty for limited periods. If goods require detailed examination they should be destuffed and stored while containers are released for re-export.

Tax deduction at source from salaries requires employers to deduct tax at prescribed rates, comply with TDS filings and certificates.
Employers and persons responsible for paying salary must estimate each employee's salary income (including specified perquisites), compute income-tax on that estimate at prescribed slab-based rates, and deduct tax on average at each payment when the estimated salary exceeds the threshold. Employees with multiple employers or claiming relief may furnish prescribed verified particulars or forms to enable deduction on aggregate salary or to compute relief. Deductors must deposit sums timely, furnish TDS certificates and returns, quote TAN, observe valuation rules and eligibility for exemptions and Chapter VI-A deductions, and face penalties, interest and criminal sanctions for non-compliance.

Modvat credit entitlement for lubricating base oils used as inputs upheld, preventing denial during the transitional pre-notification period.
The Board directs that Modvat Credit shall not be denied on lubricating base oils used in the manufacture of lubricating oils and greases for the period 01.03.1997 to 31.08.1997, noting that although rule 57B initially excluded these goods, rule 57Q permitted credit when they were inputs for further manufacture and clause (v) of rule 57B(2) was subsequently deleted by Notification No.46/97 CE(NT) dated 01.09.1997.

FDI in non-fund financial consultancy exempted from minimum capitalisation norms, subject to corporate activity and equity restrictions.
Foreign investment in purely financial consultancy that is non-fund based is exempt from minimum capitalisation norms, on condition that the company shall not set up any subsidiary for other activities and any equity it contributes in an NBFC holding/operating company will not be reckoned as domestic equity. NBFCs carrying out fund-based activities remain subject to minimum capitalisation requirements.

Bank Certificate of Export and Realisation authorised for approved export factoring agencies to certify receipt of export proceeds.
Approved export factoring firms are authorised to handle GR forms and related export documents and to issue the Bank Certificate of Export and Realisation, certifying realisation of export proceeds in the approved manner as set out in the Handbook of Procedures.

Waiver of disclaimer certificate for rebate claims where home-consumption goods are diverted for export, subject to prescribed procedure.
Waiver of the requirement for a Disclaimer Certificate is authorised for rebate claims under Rule 12 where goods cleared for home consumption are diverted for export following the prescribed diversion procedure; the merchant exporter who prepares and signs the export declaration (AR4) alone may claim the rebate, while the Disclaimer Certificate remains necessary for exports effected directly from the manufacturer's factory or premises.

Classification of compounded asafoetida as vegetable gums under tariff, not as spices or mixed condiments.
Compounded asafoetida is classifiable under Chapter Heading 13.01 because wheat flour and edible gum serve as fillers that do not change the product's essential character as a vegetable gum/resin; manufacturing steps include dilution, compounding, fermenting, drying and packing, and HSN explanatory notes and Customs Tariff treatment of asafoetida support harmonised classification under Chapter 13 rather than as spices or mixed condiments.

Condonation of delay in brand-rate applications permits limited extensions where sufficient cause prevents timely filing.
Fixation of brand and special brand rates allows the Central Government to relax filing time limits where exporters were prevented by sufficient cause. The Ministry will consider condonation for specified categories of delay listed in the Annexure, subject to the exporter stating specific reasons with supporting documents and ensuring verification of input data has been or can be completed. The Annexure links particular causes of delay to corresponding additional condonation periods and identifies triggering dates for counting the permissible extended period.