Empanelment for valuation: additional chartered engineers named for second hand machinery examination at New Customs House.
Under the CBEC circular on valuation of old and used machinery, the Commissioner of Customs (Import) has empanelled additional Chartered Engineers and Inspection and Certification Agencies with immediate effect to carry out valuation and examination of imported second hand machinery at the New Customs House, and directs that the list be brought to the attention of importers, customs agents and trade members.

Duty credit transferability expanded allowing use against import, service tax and central excise liabilities under new trade policy.
Duty credit rewards under MEIS and SEIS are issued by DGFT and are freely transferable to debit customs duty on imports (subject to appendix 3A), service tax on procurements and central excise on domestic procurements; MEIS covers specified e commerce exports via designated courier terminals and mandatory intent declaration on shipping bills is being phased in. Advance Authorization is restricted to standardised norms, DFIAs are post export and transferable with basic customs duty exemption (fuel excluded), and EPCG obligations and installation certification rules have been rationalised. Verification, monitoring and validity of authorisations and scrips are emphasised.

Prescribed visiting hours for trade meetings set between 3 P.M. and 5 P.M.; prior appointments and agenda requested.
Prescribed visiting hours between 3 P.M. - 5 P.M. each working day are designated for meetings of non-officials and Members of Trade with officers at DGFT Headquarters; visitors may seek meetings with authorised officers during these hours but are encouraged to fix prior appointments and specify issues in advance to enable officer preparation and avoid unnecessary waiting. The arrangement applies only to DGFT Headquarters and regional authorities are advised to issue similar notices as per local convenience.

Listing migration for companies of de-recognized exchanges allowed a time-limited window to secure nationwide exchange listing with conditions.
Exclusively listed companies of de-recognized or non-operational stock exchanges are permitted an eighteen-month period to obtain listing on a nationwide stock exchange subject to conditions: listing limited to previously listed classes of securities; no material change in shareholding indicating change of control; waiver of NOC where the company filed returns with the Registrar of Companies for the prior two financial years provided the company submits independent professional compliance certification and the nationwide exchange verifies compliance. Such companies remain on Dissemination Boards until listed and nationwide exchanges must process applications via a dedicated cell within two months.

Foreign Direct Investment reporting: VPN accounts for e Biz access must be procured and prepaid, with records maintained for compliance.
AD Category I banks must obtain individual VPN accounts from NIC for e Biz access, with each account coterminous with the Class 2 digital signing certificate (maximum two years), pay the prescribed advance to NICSI via NEFT/RTGS to the designated ICICI account, submit the Payment Reference Form and supporting user documentation, and maintain records of connections, amounts remitted and reconciliation information; reconciliation issues are to be addressed with NICSI. The directions are issued under the Foreign Exchange Management Act.

Self-attestation for SEZ inter-unit transfers permits removal of goods for repair, testing and R&D with undertaking and records.
SEZ units may remove goods to DTA or abroad for repair, replacement, testing, calibration, quality testing and research and development on self attestation, subject to intimation to the Specified Officer and an undertaking to the Authorized Officer for return; units must maintain records of such movements as per SEZ Rules.

Mode of Deposit of Application Fees restored: demand drafts accepted; prescribed bank receipts and submission of two copies required.
The facility to accept Demand Drafts for application fees, penalties and other fees is restored by amending Appendix 2K. Fees may be deposited by Demand Draft in favour of the Head of the concerned DGFT Regional Office, or by cash/cheque for a Treasury Receipt Challan in an authorised Central Bank of India branch with the prescribed head of accounts and Bank Receipt showing the Department and Pay & Accounts Officer station. Deposit with Indian Missions abroad is permitted and applicants must submit two copies of the Bank Receipt as proof.

Integration of SEZ and Customs EDI enables automated IGM and Shipping Bill exchange for streamlined import and export clearance.
Integration of SEZ Online with the Customs EDI System automates IGM and Shipping Bill exchanges so SEZ Bills of Entry and Shipping Bills are transmitted electronically to ICES, eliminating specified manual endorsements and register-based procedures. An online-generated transhipment number and ICES release/SEZ goods-receipt/warehousing message sequence will govern movement, custody and closure of IGM lines, while Preventive Officer verification of marks, container and seal details remains mandatory and existing mismatch procedures continue.

Customs Cargo Service Provider appointment establishes custodianship duties and compliance obligations for air cargo handling at Sahar.
Appointment of M/s. Air India Air Transport Services Limited (AIATSL) as a Customs Cargo Service Provider/Custodian at Air Cargo Complex, Sahar, Mumbai is made under Sections 45(1) and 141(2) of the Customs Act, 1962 for two years from 16.04.2015, subject to a custodianship bond and compliance with the Customs Act, the Handling of Cargo in Customs Area Regulations, 2009, insurance of stored goods, payment for pilfered/unaccounted duty, cost recovery for posted Customs officers, provision of infrastructure and manpower, prohibition on unauthorized transfer or outsourcing, publication of charges and strict recordkeeping and access controls.

Transshipment procedure electronicised in ICES 1.5 enabling CTM and TP filing, approvals, cancellations, loading and gate in processes.
Electronic transshipment in ICES 1.5 mandates filing and customs approval of a Cargo Transfer Manifest (CTM) by the importing airline (post IGM, pre BE) and subsequent filing and approval of a Transshipment Permit (TP) by a registered Transshipment Agency (with bond and PLA account). System validation against IGM/Consol/CTM is required at submission; ACT approval generates CTM/TP numbers, debits bond/fees, marks IGM/consol lines, enables custodial transfer, and makes TP data available to the destination for gate in tallying and BE regularisation.

Transshipment module implementation: electronic Gate In process conditions Bill of Entry filing and bond re credit.
The ICES 1.5 implementation requires transshipment movements to be processed electronically: a Transshipment Permit at the gateway, cargo loading and transport details entered by the Preventive Officer, and a signed Cargo Arrival Report at the destination. The Gate-In-Officer records gateway code, TP details, transport and line information, packet counts and packet condition in ICES; matched counts permit Bill of Entry filing, damaged goods require 100% pre-checking, mismatches bar filing, and full tallying of all lines closes the TP and re-credits the gateway bond/BG.

Acquisition window mechanism enables stock exchange tendering and clearing for takeover, buyback and delisting offers under prescribed procedures.
The circular establishes an Acquisition Window on recognised stock exchanges for tendering and settlement of shares in takeovers, buybacks and delisting offers (applicable to Public Announcements on or after July 01, 2015). Acquirers appoint registered brokers, buyers place orders at tender opening, sellers place sell orders during trading hours, and tendered shares must be transferred to a special clearing corporation account prior to bidding. The Merchant Banker finalises the basis of acceptance; the clearing corporation executes settlement by transferring accepted shares to escrow, replicating secondary market settlement, with prescribed disclosures and procedures for physical and locked in shares.

Customs clearance facilitation: establish port level committees to coordinate agencies and expedite import export clearance processes.
Establish a Customs Clearance Facilitation Committee (CCFC) at each major seaport and airport, chaired by the Chief Commissioner/Commissioner of Customs with senior local representatives of regulatory agencies and stakeholders. CCFC functions include monitoring expeditious clearance per parent ministry timelines, identifying and resolving procedural and infrastructural bottlenecks, initiating Time Release Studies, recommending best practices, resolving trade grievances, meeting at least weekly, publicising contact details, preparing SOPs and timelines, and reporting periodically to the Board.

Suspension of tax collection during MAP allows abeyance of recovery upon confirmation of MAP and furnishing prescribed bank guarantee.
Suspension of tax collection during Mutual Agreement Procedure under the India-UK MoU permits assessing officers to keep recovery in abeyance where the Foreign Tax and Tax Research Division confirms MAP pendency and the taxpayer furnishes a model-format bank guarantee. The bank guarantee is treated as sufficient arrangement for extension under Section 220(3) for the MAP duration, is capped at the additional tax demanded (with statutory interest adjustments), may be drawn only after notice between Competent Authorities, and is subject to renewal, substitution and specified termination events; suspension also covers related interest and penalties.

Auditor reporting requirements require specified disclosures on assets, inventory, loans, controls, statutory compliance and fraud in audit reports.
The Order mandates the matters auditors must include in reports under section 143 for applicable companies, including verification and records of fixed assets and inventory, loans to parties in the section 189 register, adequacy of internal controls, compliance with deposit and statutory obligations, maintenance of prescribed cost records, disclosure of arrears and disputed statutory dues and transfer to investor education fund, reporting of significant accumulated losses and cash losses, defaults to lenders, prejudicial loan guarantees, proper application of term loans, and any frauds; auditors must state reasons for unfavourable, qualified or non answerable responses.

PAN migration to new jurisdiction required; regional webpages must publish updated jurisdiction information and provide assistance.
Completion of PAN migration to revised wards, circles and ranges after restructuring is mandated so taxpayers can identify their correct jurisdiction for filing returns. Regional officers must publish updated jurisdictional boundaries and associated documents on their regional pages of the national income tax website and provide a clear "Jurisdiction" access point. Systems training and upload credentials have been provided to nominated officers; a common format and guide will be circulated and designated contacts are available for technical assistance. This activity is a top-priority administrative task to prevent taxpayer inconvenience.

Service tax rate change subsumes education cesses and will take effect only from a government notified date.
The Service Tax rate increase will subsume the Education Cess and Secondary and Higher Education Cess and will come into effect only from a date to be notified by the Central Government after enactment of the Finance Bill, 2015; until such notification the existing levy, including the cesses, continues. Valuation rules for services supplying food or beverages by restaurants, eating joints or messes remain unchanged by the Budget and the specified portion of the amount charged for such supplies continues to be treated under the existing valuation and abatement provisions.

Remuneration continuity under Schedule provisions: managerial persons may receive company approved pay for remaining term beyond transition date.
A managerial person appointed under the earlier Act's Schedule may continue to receive remuneration for the remainder of the term in accordance with terms and conditions approved by the company under that Schedule, even if part of the tenure falls after the transition date.

Abeyance of new export provisions preserves prior Pre Shipment Inspection Certificate issuance process under transitional authority.
The Director General of Foreign Trade keeps para 2.55 and para 2.56 of the Handbook of Procedures, 2015-20 in abeyance under paragraph 2.04 of the Foreign Trade Policy to facilitate transitional arrangements; meanwhile, issuance of the Pre Shipment Inspection Certificate (PSIC) shall continue to follow the procedure in para 2.32.2A and 2.32.2B of the Handbook of Procedure Vol. I, 2009-14 until further orders.

Integration of SEZ Online with Customs EDI enables electronic transhipment and cargo release workflows from ports to SEZs.
Integration of SEZ Online with ICES establishes an electronic import and export workflow: ICES supplies IGM data to SEZ Online, Bills of Entry integrate IGM data and, upon rectification of infirmities, assessed B/Es are transmitted to ICES. ICES generates a Transhipment Number after verification, marks B/Es to the Preventive Officer for physical release, and sends a release of goods message to SEZ Online. SEZ Online must then provide goods receipt and warehousing messages to ICES, which will close IGM lines; manual quintuplicate endorsements, TSA registers and physical re-warehousing certificates are dispensed with.