Amendment to Standard Input Output Norms updates chemical SION entries and adds new export-import input norms under FTP.
Amendment to the Handbook of Procedures, Vol.2 revises Standard Input Output Norms (SION) for Chemicals and Allied Products by correcting specifications and input-output quantities for listed SION entries and by adding new entries. Key operative changes include updating Gum Rosin specification to 90 2% abietic acid, revising import-input norms for products like MMDPA, caustic soda (solution and flakes), ferric chloride, synthetic rutile and liquid chlorine, and inserting new SIONs detailing inputs for buff-colour titanium dioxide, DDT 75% WP formulation, and isatoic anhydride.

Area based exemptions now tie refunds to value addition, with prescribed rates and a special-rate application process.
Exemptions are reformed so refunds equal the duty attributable to prescribed rates of value addition on a unit's total duty payable, subject to a cap of actual duty paid in cash or through PLA; procedural filing and self-credit remain, and a process for obtaining a special rate based on audited prior-year financials is provided, with the special rate applying from the claim date and interim refunds adjusted. These changes take effect from 1st April, 2008.

DEPB rate suspensions temporarily remove specified engineering and chemical product entries and bar related miscellaneous benefits.
Specified DEPB entries for the Engineering Product Group and Chemicals Product Group are temporarily suspended, removing those product entries from DEPB entitlement with immediate effect. Corresponding adjustments in the Miscellaneous Products Group exclude products covered by the suspended engineering and chemical entries from claiming DEPB benefits under the relevant miscellaneous provisions, and additionally exclude non-basmati rice from DEPB entitlement under the specified miscellaneous provisions.

Conformity assessment body registration enables Singapore CAB certification to meet CECA electrical and electronic sector requirements.
Registration of M/s TUV SUD PSB Pte Ltd. as a Conformity Assessment Body in Singapore authorises certification recognised under the Singapore India Comprehensive Economic Cooperation Agreement (CECA) for the Electrical and Electronic sector. The Directorate General of Foreign Trade, as Designating Authority, issues the registration under powers conferred by the Foreign Trade Policy and related administrative order and formalises recognition by issuing a Certificate of Registration under the Mutual Recognition Agreement.

Inclusion of coffee under VKGUY list extends export benefits for specified coffee shipments effective from April.
The Handbook of Procedures, Vol. I (RE-2007) is amended to add Coffee, all types to the VKGUY list under the ITC Harmonized System classification, inserting a new VKGUY product code in Table 10 of Appendix 37A and specifying the date from which export benefits will be admissible, thereby extending eligibility for trade-policy incentives to coffee exports.

Work allocation of departmental representatives sets categories and reporting rules for ITAT representation without monetary specifics.
Allocation of work for departmental representatives before the ITAT assigns core search and block-assessment appeals, Special Bench and Third Member Bench referrals, appeals against supervisory review orders, scam-related cases, and appeals above prescribed monetary thresholds to the CIT (DR); all other appeals are to be handled by Sr. DRs. The CCIT may reassign cases in exceptional circumstances. Both CIT (DR) and Sr. DRs must submit monthly performance reports in a prescribed proforma detailing categories of cases represented, totals, and adjournments.

Special Counsel engagement: procedural criteria and approval requirements for departmental representation before appellate forums.
Guidelines govern engagement of Special Counsels for Income-tax Department representation where important or complex legal questions, statutory challenges, or large revenue stakes arise. Proposals must be case-specific, justify the need, confirm the advocate's expertise, obtain prior consent and availability, and specify terms of engagement. Submission must follow Proforma-A and include case details, issues, recommended counsel, hearing date and other information. Engagements require approval by competent authorities in the Ministry of Finance and the Ministry of Law and Justice and should be sent with adequate lead time before the hearing.

Constitution of benches allocates company law matters by subject and permits bench sittings outside jurisdiction with consent.
Constitution of a multi-bench adjudicatory structure allocates company law matters by subject to specified benches, naming members empowered to sit for each bench. The Principal Bench is assigned particular statutory categories while other benches handle remaining company law matters. Benches may hold sittings outside their jurisdiction with party consent and may refer matters to the Principal Bench for joint consultation and disposal. The order supersedes prior orders and takes effect from the operative date.

Standard Input Output Norms amendment changes permitted inputs for drill pipe exports under Handbook of Procedures.
Amendment to Standard Input Output Norms (SION) substitutes the norm for SION C-366 governing exports of drill pipes, prescribing the export product description and listing permitted import items with specified quantities and bases (for example, plain end seamless pipes; tool joint forgings/blank bars; coating material; hard banding material including exemplar products; tube metal), as replacement entries in the Handbook of Procedures (Vol.2).

SION addition: new input norm permits import of Brush Alloy for Contact tape exports under input-output norms.
A new Standard Input Output Norms entry, SION C-2045, is added authorising import of Brush Alloy (untinned) as the input for exports of Contact tape (Tinned), with an input allowance specified on a per kilogram basis; the amendment is issued under the Foreign Trade Policy and the Handbook of Procedures and inserted into the Handbook of Procedures (Vol.2) by public notice.

Ad-hoc Advance Authorisation for readymade garments permitted where fabric needs exceed standard norms; issuance and monitoring mandated.
Ad-hoc Advance Authorisations under Para 4.7 may be issued for readymade garments of textiles and leather where fabric requirements for a particular style, pattern or design materially exceed the applicable SION; the Norms Committee will finalise ad-hoc norms using CAD/CAM and lay markers, exports must state specific Style/Design/Pattern numbers and export obligations will be monitored accordingly, with those identifiers recorded on customs attested shipping bills and packing lists.

E-Payment of Customs Duties enables net-banking payments via ICEGATE, automating electronic confirmation and goods registration.
Optional e-payment via the Customs E-Payment Gateway on ICEGATE allows importers/CHAs at CFS Mulund to select unpaid challans, redirect to the designated bank's internet banking for net-banking payment, obtain a cyber receipt, return to ICEGATE to complete the transaction, and have payment particulars sent electronically to ICES so the Bill of Entry moves automatically to the examination queue without requiring physical proof of payment.

Electronic payment of customs duties via ICEGATE enables direct net-banking clearance and automatic movement of Bills of Entry to examination.
Importers/CHAs at CFS Mulund may pay assessed customs duties via an e-Payment facility linked to the ICEGATE Central E Payment Gateway. Registered users log into ICEGATE to view unpaid challans; unregistered users enter the importer's IE Code. Selecting PAY routes to the designated bank's internet banking page where the user logs in, confirms and completes payment, and obtains a cyber receipt. ICEGATE/CEG sends electronic payment particulars to ICES, after which the Bill of Entry proceeds to the examination queue. A same day VERIFY option is available for incomplete transactions to resume payment via the bank site.

E-payment of customs duties: top 50 importers must adopt ICES net-banking and complete bank account formalities.
E-payment through the Indian Customs EDI system (ICES) is being phased toward mandatory use for the top 50 importers; affected importers and CHAs must open accounts with the specified banks, complete the annexed account-opening and authorisation formalities, and follow the ICES e-payment procedures, with helpdesk support for operational issues and a case-by-case exception process for alternate payment instruments.

Tax period change notification: dealers must file Form DVAT-55 to elect or change tax period for the upcoming year.
Pursuant to Rule 26(1)-(4) of the DVAT Rules, 2005 dealers may elect shorter tax periods than the defaults linked to preceding-year turnover bands, but must furnish an intimation of any change to the Commissioner in Form DVAT-55 within the prescribed 15-day period from the start of the year; late intimations will not be accepted.

Allocation of raw sugar export quota to EU under Foreign Trade Policy, subject to existing public notice conditions.
The Directorate General of Foreign Trade authorises an additional allocation of raw sugar for export to the European Union under the Foreign Trade Policy for the 2007-08 export year, with all conditions and procedural requirements of the earlier public notices continuing to apply and the allocation issued in the public interest.

Export quota allocation for white sugar to EU designates a sole agency and prescribes EC certification for consignments.
The Director General of Foreign Trade allocates an export quota of white sugar to the EU for 2008-09, identifies the applicable Harmonized System classification, designates a single authorized export agency under the preferential quota regime, and prescribes the Special Certification entry to be recorded in EUR and GSP documents linking consignments to the applicable EC certification requirement.

Margin requirement for institutional trades moves from next-day collection to upfront margins ensuring parity with other investors
SEBI requires institutional trades in the cash market to be margined like other investors: initially on a next-day basis with margins collected from custodians upon trade confirmation, and subsequently moving to upfront margin collection. Stock exchanges must issue guidelines, update systems and bye-laws, test software, inform members, and report implementation status.

Load on bonus and reinvested units prohibited; AMCs must disclose non-levy in offer documents and issue addenda for investors.
Mutual fund AMCs are directed not to levy entry or exit load on bonus units and on units allotted on reinvestment of dividend; AMCs must disclose this non-levy in draft offer documents filed with the regulator. The no-load requirement applies to redemptions by existing unitholders from the regulator's effective date, and AMCs must issue addenda to scheme documents to implement the change, under the regulator's statutory investor protection and market-regulation powers.

Duty Drawback rate revision requests industry data on input consumption and tax incidence to update export refund rates.
Revision of All Industry Rates under the Duty Drawback Scheme requests stakeholders to submit, in the prescribed multi-part proforma, comprehensive lists of inputs used in export manufacture together with actual export costs, sales realizations and service tax incidence; submissions should be representative, supported by Bills of Entry, Shipping Bills, invoices where possible, sent to the designated e-mail and received by the stated deadline for use in reworking drawback rates.