Algorithmic trading audits required semiannualy, with doubled per-order penalties and enhanced surveillance to curb manipulation and repeat offenders.
Algorithmic trading systems must undergo a system audit every six months by specified certified auditors; identified deficiencies must be reported to exchanges and remediated immediately, failing which exchanges shall block software use and may impose penalties. Exchanges must enhance surveillance of algorithm-generated orders and double per-order penalty charges, and impose additional suspension of proprietary trading for repeat high order-to-trade ratio offenders. Exchanges must amend rules, implement systems, and notify members.

Scheme of Arrangement clarifications: valuation reports exempted where no change in shareholding; public shareholder voting required in promoter-related schemes.
Clarification requires listed companies undertaking Schemes of Arrangement to submit valuation reports unless there is no change in shareholding pattern, defines change in the shareholding pattern to include alteration in proportion of existing shareholders, allotment to new shareholders, or exit of existing shareholders, and prescribes that companies listed on nationwide exchanges must designate such exchanges for coordination while regional-only companies seeking exemption must obtain in-principle nationwide listing approval; specified promoter-related schemes require public shareholder voting by postal ballot and e-voting and non-applicability must be supported by a board approved, auditor certified undertaking published on websites.

Export proceeds repatriation timeframe shortened under foreign exchange regulations; exporters must repatriate authorised foreign exchange within the revised regulatory period.
The circular reduces the period for realisation and repatriation of the full export value of goods and software from the previously extended term to a shorter, specified term from the date of export, effective immediately for a limited period; timelines for SEZ exports and exports to overseas warehouses remain unchanged, Authorised Dealer Category I banks must inform constituents, and the directions are issued under the foreign exchange regulatory framework without prejudice to other legal permissions.

Transaction cost reduction initiative to identify export procedural impediments and recommend digital, paperless processing reforms.
Constitution of a Second Task Force on Transaction Cost to identify causes of high export transaction costs, locate administrative impediments and procedural complexities, compare India's export procedures with major competitors, and recommend guidelines drawn from global best practices. The Task Force must also suggest measures to increase transparency and move toward paperless processing through digital platforms, and solicit suggestions from central and state ministries, trade bodies and industry via the designated contact point.

Gate Module implementation at ICTT: new procedures enforce Gate In/Out and LEO processes, affecting shipping bill amendments.
Implementation of a Gate Module at ICTT Vallarpadom establishes ICES Gate In/Out procedures for export and import containers, requiring CHAs/Exporters to present Shipping Bills at the CFS gate for entry of container, seal and truck details; on arrival at ICTT seals are verified and Gate In entries recorded before permitting loading. Once the gate officer records entry in ICES v1.5, cancellation or amendment of the Let Export Order or Shipping Bill via ICES v1.5 is not possible, so Shipping Bill particulars must be correct before gate submission.

Transfer of imported firearms permitted with certification by shooting authorities after specified waiting periods, subject to Arms Act compliance.
Amendment permits a Renowned Shooter to transfer an imported firearm for sporting pursuit to an upcoming shooter certified by a recognized shooting authority after a prescribed waiting period from import; the transferee may later transfer or resell to a buyer similarly certified for sporting use after a further waiting period from first sale. Transfers remain subject to the Arms Act and state/local police rules, and certifying authorities must maintain records.

Incremental Export Incentivisation Scheme: ANF 3F required to claim entitlement based on verified incremental exports and CA certification.
ANF 3F is prescribed as the mandatory application form to claim benefits under the Incremental Export Incentivisation Scheme for exports in Jan-Mar 2013 vis-a -vis Jan-Mar 2012. The form requires export performance figures for both periods, computation of incremental growth and entitlement, port of registration, and split-certificate requests. Applications must be accompanied by a Chartered Accountant certificate verifying shipping bills, Let Export and BRC details, eligible destinations, proof of landing, and annexed shipment-level data as specified in the Handbook of Procedures.

Centralized Registration requires online ST 1 filing and timely submission of supporting documents or the application may be rejected.
Centralized registration requires online filing of Form ST 1 and submission of the printed application with specified documents to the Divisional Deputy/Assistant Commissioner within fifteen days, failing which the application may be rejected. After grant, prior single registrations must be surrendered and the Range Superintendent notified within two months, with CENVAT credit balances at branches reported within fifteen days. Until formal communication of centralized registration, service tax payments and compliance must continue at each branch.

FDI payment via investor bank account allowed, enabling equity issuance under government route against pre operational expenses.
FDI under the Government route may fund equity or preference shares against pre operative/pre incorporation expenses. Condition (c) is amended to allow payments by the foreign investor either directly to the company or through a bank account opened by the foreign investor as provided under FEMA Regulations; other conditions remain unchanged.

Duty-free import exemption for oil exploration - transfers between eligible projects allowed with safeguards and no re-export bond.
Clarification permits transfer of imported goods between eligible oil exploration projects under notification No.12/2012-Customs subject to safeguards; execution of a re-export bond at clearance is not required, only an undertaking; individual constituents of a consortium may import if named as importer on the Essentiality Certificate issued by DG, Hydrocarbons; non-mention of a sub-contractor in the original GOI-contractor agreement does not bar exemption if the EC names the sub-contractor and bona fides are established.

Classification of Tablet Computers as automatic data processing machines affects tariff treatment and import classification.
Tablet computers, principally touchscreen-operated and user-programmable, meet the functional criteria of an automatic data processing machine-including data storage for program execution, user programmability, performance of user-specified computations, and autonomous program execution-and, under the General Rules for Interpretation and relevant Chapter and Section Notes, should be classified according to the component performing the principal function as automatic data processing machines for tariff purposes.

Compliance requirement for employee benefit schemes: align with SEBI guidelines and restrict secondary market acquisitions, with disclosure duties.
All employee benefit schemes involving a company's securities must comply with SEBI (ESOS and ESPS) Guidelines, 1999 and the Equity Listing Agreement; schemes set up, managed, controlled or financed by the company fall within scope. Acquisition of company securities from the secondary market for ESOS/ESPS is prohibited. The compliance deadline for aligning existing schemes has been extended; trusts that acquired securities from the secondary market before the amendment may continue to hold them only if schemes are aligned and securities are used in accordance with those aligned schemes. Listed companies must make specified disclosures to stock exchanges in prescribed formats.

Voluntary Compliance Encouragement Scheme allows regularisation of service tax dues with immunity from penalties and other proceedings.
The VCES permits persons with service tax dues to declare and regularise liabilities provided they hold or obtain service tax registration; declarations attract interest but grant immunity from penalties and other proceedings under the Finance Act for declared dues. Tax dues already covered by a show cause notice or order of determination, or arising from the same issue for subsequent periods, are excluded. Rejection under section 106(2)(a)(iii) is confined to cases where an inquiry was formally initiated by requisition of accounts, documents or evidence under statutory provisions and was pending on the cutoff date; general informational communications do not invoke this exclusion.

Restriction on consignment import of gold limited to genuine needs of jewellery exporters under FEMA; immediate compliance required.
Nominated banks and authorised dealers must restrict import of gold on consignment basis to meeting the genuine needs of exporters of gold jewellery; this alignment with other import regulations follows the Working Group on Gold's recommendations, takes effect immediately, and leaves all other gold import instructions unchanged under the Foreign Exchange Management Act, 1999.

Document submission facility expanded to accept multiple files; staggered call dates instituted to manage processing and reduce exporter visits.
The counter shall accept all documents an exporter brings even if they relate to more than three files, to facilitate trade and reduce transaction costs. To enable proper processing, the counter will give staggered call dates in sets of three files per party so sections can process files in manageable batches.

Extension of service tax return filing deadline allows additional time to submit Form ST-3; ACES availability indicated.
The Government ordered an extension of the filing deadline for Form ST-3 for the stated service tax period, postponing the original due date and permitting additional time to file; the electronic Form ST-3 is expected to be made available on the ACES portal before the extended deadline, and the trade notice informs stakeholders to consult the official order on the department website.

FDI clarification format required; requests lacking complete annexed particulars for proposed investments will not be processed.
Departmental direction that only clarification requests on FDI policy submitted with complete particulars in the annexed format will be processed. The annex requires investor and investee identities and contacts, incorporation and business details, copy of MoA, proposed investment amount and foreign shareholding (pre/post), sector and NIC code, a concise gist of proposed activity, the policy paragraph for clarification, a brief issue statement, prior approval details with copies, and any other relevant information, signed by an authorised signatory.

Duty-free import of temperature controlled containers allowed under bond, subject to re-export, recordkeeping and customs reporting requirements.
Duty free importation of durable pallets and temperature controlled cool containers (ULDs) is permitted at the Air Cargo Complex, Sahar, Mumbai, provided the importer executes a Continuity Bond covering estimated duty, re exports the containers within six months and submits Customs certified re export evidence within seven days; the bond is valid for one year and extendable. Airlines/authorised representatives must obtain permission to move containers out of the complex, record container serial numbers in IGM/EGM, submit flight wise certified details and a monthly statement to the Container Cell by the 7th of each month, and maintain separate records of imported, re exported and pending containers.

Export certificate issuance: emailed and downloaded forms accepted for frequent international travelers, with in person verification before certification.
Permits frequent international passengers to email a completed Export Certificate form to a specified airport address and present a printed triplicate at departure; the AC/DC must monitor the mailbox and ensure printed copies reach the Departure Counter. Customs Officers must verify goods against the form's identifying particulars before issuing the Export Certificate. Documentary proof of value must be checked for high value electronics and invoices or valuation certificates scrutinized for precious metal or gem studded jewellery. The Superintendent issues the certificate after countersignature by the Assistant/Deputy Commissioner, with the facility supplementary to existing options.

Extension of filing deadline for DVAT-51 reconciliation and original declaration forms for 2011 12 quarters notified.
The Commissioner extends the statutory time limit for furnishing the reconciliation return in Form DVAT 51 and the original portions of declaration forms C, E I/E II, F, I, J and H, citing relevant sub rules of the Delhi VAT Rules and Central Sales Tax rules; the extension applies to all four quarterly periods and aligns Form CD 1 online reporting with the extended submission date.