FPS benefits eligibility confirmed for Other Cast Articles of Iron and Steel under ITC HS grouping regardless of malleability.
All "Other Cast Articles of Iron or Steel" under the four digit ITC(HS) heading 7325 are eligible for FPS benefits irrespective of malleability; the entry at serial number 279 contains no malleability condition and therefore supports FPS claims for all cast iron and steel articles within that heading.

Government backed line of credit supports project exports with specified India sourcing and FEMA compliance conditions.
A Government of India supported Line of Credit by Exim Bank to the Government of Cote d'Ivoire finances eligible goods, machinery, equipment and consultancy services from India for an Electricity Interconnection Project, requiring at least 75% India sourced contract value and allowing up to 25% foreign procurement; the LOC is effective from May 26, 2016, with disbursement ending 60 months after project completion, shipments to be declared on EDF/SDF forms, and no agency commission payable except from exporter resources or EEFC balances subject to prevailing instructions and AD Category I bank compliance.

Warehouse licensing: prescribed application and centralized antecedent verification enable fixed processing timelines and license validity until surrender.
Prescribes a mandatory application form for new bonded warehouse licences under the 2016 Warehouse Licensing Regulations capturing applicant identity, site particulars, security and fire protection, IT inventory controls, intended goods, solvency certificate and statutory declarations. Bond officers must inspect and report within an initial period and the Principal Commissioner/Commissioner must decide within a further period so that overall processing meets the prescribed timeline. Centralized post verification through DRI (HQ) and DGCEI (HQ) is directed to avoid cross jurisdictional delays. Licences remain valid until surrender or cancellation, with annual submission of insurance and solvency documents required.

Customs Broker enrolment required under Regulation 24; failure to join the recognised association may prompt de-registration.
Customs brokers at Tuticorin must enrol as members of the recognised Customs Brokers' Association pursuant to Regulation 24 of the Customs Brokers Licensing Regulations, 2013, and forward the association-issued enrolment certificate to the Commissioner's office; failure to enrol and submit proof by the specified deadline may lead to de-registration.

Standard Gate Pass adoption under CODEX for authenticated, tracked movement of export containers to the port.
Declaration of a uniform CODEX Gate Pass as the standard Customs permission for movement of export containerised cargo from CFSs/ICDs to VOC Port, replacing varied local gate pass formats; the CODEX platform provides real-time data upload, barcode authentication and tracking. The CODEX Gate Pass must be stamped, signed and have gate-out time authenticated by Inspectors at CFSs/ICDs, with Port Green Gate Inspectors maintaining existing procedures except for accepting the new format. CONCOR CFS remains exempt until it joins CODEX.

Krishi Kalyan Cess imposed on taxable services, with exemptions, CENVAT credit limits and reverse charge application.
A Krishi Kalyan Cess is levied as an additional charge on taxable services effective 1 June 2016 to finance agricultural initiatives; its value is determined under the Service Tax (Determination of Value) Rules, 2006, and it is payable in addition to existing service tax. Notification No.28/2016 exempts services already exempt or not leviable to service tax, and the CBEC has prescribed accounting heads. CENVAT Credit amendments permit credit of the cess on input services but restrict utilisation to payment of the cess; reverse charge, composite rate option, rebate for exports and SEZ refund provisions are provided by separate notifications.

Warehousing reforms under the Customs Act: new licensing, lock-based movement, computerized records and revised bond requirements.
The amendments establish separate licensing regimes for Public, Private and Special Warehouses and require Special Warehouses storing notified classes of goods to operate under customs lock and obtain licenses under the Special Warehouse Licensing Regulations. Existing licensees have a transitional period to migrate to record-based controls. Escort requirements for intra-town and export movements are replaced by affixation of serially numbered one-time locks. Bonds and security formats have been re-prescribed, regulatory sampling in warehouses is permitted with recordkeeping obligations, and warehouse records must be computerized to access liberalized procedures.

Warehouse recordkeeping must be maintained electronically and monthly returns filed within ten days of each month.
Licensees must maintain immediately updated, accurate electronic records of receipt, handling, storage and removal of warehoused goods in Form A with an audit trail; file monthly paper returns in Form A within ten days after month end and Form B where warehousing periods expire, send acknowledgements upon receipt to originating customs or warehouse Bond officers, appoint authorised signatories with specimen signatures filed with the Bond Officer, provide necessary in warehouse facilities, and apply these electronic recordkeeping requirements to goods received on or after 14 May 2016.

Tax collection at source on high-value motor vehicle sales requires seller to collect tax on each retail sale exceeding the statutory threshold.
Amendments expand tax collection at source to require sellers to collect tax on cash sales of goods or provision of services above the cash-threshold (excluding bullion and jewellery) and on retail sales of motor vehicles above the motor-vehicle threshold. Sellers liable include governments, statutory bodies, companies, firms, cooperatives and audit-liable individuals; covered international organizations and diplomatic missions are excluded. The motor-vehicle provision applies per qualifying sale, irrespective of payment mode, and governs collection on the total consideration without cumulative application with the cash-sale rule.

Revalidation of advance authorizations with bond waiver permitted for input replenishment subject to ANF 4D and fee.
Revalidation of Advance Authorizations with Bond waiver is allowed where exports were made first on a pro rata basis; Regional Authorities may revalidate the authorization in continuation for a further six months for replenishment of inputs, provided the applicant submits ANF 4D, pays the requisite fee, and has not previously obtained revalidation under Para 4.41(a) of the Handbook of Procedures 2015 20.

Investor Protection Fund rules require depositories to allocate profits and maintain a separate trust for investor protections.
The circular mandates establishment of an Investor Protection Fund (IPF) by depositories for investor education, market research and support of participant initiatives; requires internal, board approved utilization guidelines to be submitted to the regulator; prescribes Trust administration with specified membership, segregation of IPF assets and immunity from depository liabilities; specifies contribution sources including a portion of depository profits, fines, investment income and transfers from related reserves; and requires low risk, board approved investments plus monthly reporting and timely implementation.

Bond requirement under Customs Act: amendment mandates bond filing for warehoused goods and related compliance.
Amendment requires filing of a bond under Section 59 for warehoused goods, pursuant to newly issued warehousing, custody and licensing regulations. The Department of Revenue has published notifications and circulars specifying goods eligible for special warehouses, removal and custody rules, licensing regimes, security requirements under the bond framework, procedures for ex-bond bills of entry, interest payment on warehoused goods, and solvency certification; these materials are provided to importers, CHAs and the trading public for guidance and compliance.

Foreign direct investment rules set sectoral caps, defined entry routes and compliance obligations for cross border equity investments.
The Circular establishes a consolidated FDI framework effective June 7, 2016, defining eligible investors, investee entities and instruments, and prescribing two entry routes-Automatic and Government-together with sectoral caps, entry conditions, pricing/valuation norms, and reporting and remittance obligations. It details downstream investment calculation, transfer and conversion rules for capital instruments, sector specific limits and conditionalities, FIPB constitution and approval thresholds, and mandatory forms and procedures (including FC GPR and FC TRS) for compliance and documentation.

State Electricity Agency information return requirement: authorised agencies must file Form AIRF for specified manufacturers annually, with electronic filing.
State Electricity Agencies must file the annual Form AIRF (with Annexure AIRA II) reporting manufacturers using induction furnaces or rolling mills who exceed the statutory clearance threshold; Principal Chief Commissioners/Chief Commissioners must identify and intimate such manufacturers, nominate liaison officers, ensure authorised officers submit returns, accept returns on computer media until e filing is ready, analyse and disseminate the data, monitor action, and forward format and verification suggestions to the Board.

Item-wise reporting requirement for DVAT returns and DVAT-30/31 now mandatory, with the prior quarter reporting optional.
Furnishing item-wise details in DVAT returns and in Forms DVAT-30 and DVAT-31 is mandatorily required from the tax period commencing 1st April, 2016; for the tax period 1st January, 2016 to 31st March, 2016 specifying item details shall be optional. Representatives reported practical difficulties due to software limitations and need for time to upgrade systems.

Hazardous and Other Wastes rules and e Waste rules notified; stakeholders must review and comply accordingly.
Stakeholders are informed that the Ministry of Environment, Forest and Climate Change has notified the Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016 and the e Waste (Management) Rules, 2016; affected exporters, importers, customs brokers and agents must take cognisance and comply with these rules, and copies of the Gazette notifications are available on the electronic Gazette website.

Indirect tax dispute resolution suspends pending appeals and permits settlement through declaration, prescribed forms, and deposit compliance.
The Scheme permits a party in appeal before the Commissioner (Appeals) at the cut off to file a declaration with the Designated Authority. Prescribed Forms govern the process: Form 1 for declaration, Form 2 for acknowledgement which suspends the appeal for an interim period, Form 3 to report deposits under the Scheme within prescribed timeframes, and Form 4 for the Designated Authority's discharge order. The Commissioner will verify Form 4 against the Authority's copy and remove the appeal from pendency; such disposal has no binding precedent value.

Interest on warehoused goods payable at ex bonding; bank guarantee now secures extensions, removing upfront interest requirement.
The prior requirement to collect interest before allowing extensions of warehousing, and to issue demand notices for such interest, is removed. Interest, if payable, shall be paid at the time of ex bonding. In lieu of upfront interest collection, importers must furnish a bank guarantee (a percentage of duty and interest) before an extension is granted, with specified industry exemptions.

Ex-bond bill of entry filing on ICES required; customs station of import to assess and warehouses to verify via ICEGATE.
Importers must file ex-bond bills of entry on ICES for clearance of warehoused goods; the customs station of import will assess those bills. The assessed bill copy must be presented to the warehouse bond officer, who will verify particulars on ICEGATE and, if matched, permit removal by affixing a dated signature. On mismatch, the bond officer shall withhold removal and report to the appropriate Deputy/Assistant Commissioner for resolution with the customs station of import. Bonds and security are to be executed at the customs station of import, and EDI-based warehouse coding and monitoring will support administration.

Security under Customs Act: waivers for specified imports and staged bank guarantee requirements for warehoused goods.
Section 59(3) requires importers to furnish security in addition to a bond for warehoused goods; specific categories (government imports, power-project machinery, project imports, petroleum, shipbuilding inputs, manufacture-in-bond units, supplies to diplomats/duty-free shops/ship and airline stores) are exempt. Transit requires comprehensive transit risk insurance in favour of the President of India covering duty for movements between customs stations and warehouses, with limited waivers. Storage follows staged bank guarantee requirements after the initial one-year free period, higher rates for sensitive goods, special rules for private bonded warehouses, and port-level extension authority vested in the Principal Commissioner/Commissioner of Customs.