Voluntary disclosure in customs enables amendment of under-declared Bills of Entry with reassessment and duty plus interest payable.
Voluntary post-clearance correction of RMS-facilitated Bills of Entry is allowed if made promptly, supported by original B/E, Bill of Lading, invoice and packing list, and if quantities/packages do not exceed IGM/Bill of Lading. Amendments will be examined under the Customs Act and, if admissible with JC/ADC approval, will be effected by cancelling out-of-charge and re-assessing the B/E in EDI. Re-assessment requires payment of differential duty via TR 6 and interest; penalties are generally not invoked for bona fide disclosures.

Phytosanitary control: frozen green peas imports must be referred for plant quarantine inspection and clearance before customs release.
Consignments of frozen green peas must be referred to Plant Quarantine authorities for inspection and may be cleared by customs only after required no objection certificates or phytosanitary clearance are issued, consistent with Phytosanitary requirements under the Plant Quarantine (Regulation of Import into India) Order, 2003 and following Pest Risk Analysis and related risk mitigation measures.

Mega power project contracts must be via ICB or tariff based competitive bidding and state import content.
Suppliers to mega power projects must certify that the supply contract is procured under International Competitive Bidding or through tariff based competitive bidding in accordance with the Foreign Trade Policy provisions and must state the import content of the order in figures and words; this substitutes paragraph (e) of Form 1 A and paragraph 2(e) of Form 1 B in Appendix 22C and paragraph (e) of Appendix 27 in the Handbook of Procedures, Vol. I.

Line of Credit enables procurement of eligible Indian goods and services for Mali under specified supply, documentation, and FEMA compliance.
Exim Bank's Line of Credit to Mali finances eligible Indian goods, machinery, equipment and consultancy services for the interconnection project; at least 85% of contract value must be supplied from India while up to 15% (excluding consultancy) may be procured abroad. The Credit Agreement fixes timelines for opening Letters of Credit and disbursement, requires GR/SDF shipment declarations, disallows agency commission under the LOC (though exporters may use own funds or EEFC balances subject to remittance rules), and implements these directions under FEMA.

Cargo manifest reconciliation required: airlines must reconcile online and manual manifests and attach EDI acknowledgement.
Airlines must reconcile the online/electronic Cargo Manifest filed via ICEGATE with the manual Cargo Manifest before submitting the manual copy to the Batch Office, attach the signed EDI "Report on loading of EGM from EDI" acknowledgement, and place a signed certification on the manual manifest confirming that the manual and electronic manifests have been reconciled and tally in every respect. The Batch Office will accept only such manual submissions, record particulars in its register, and issue an acknowledgement to the airline.

Standard warning in mutual fund advertisements must appear visually and in voiceover unchanged to ensure clear investor disclosure.
Audio-visual mutual fund advertisements must display and voice the exact standard warning "Mutual Fund investments are subject to market risks, read all scheme related documents carefully" without any addition or deletion, with the visual accompanied by a concurrently run voice-over for a sustained period to ensure intelligible investor disclosure; all mutual funds must comply strictly with this presentation requirement under the regulator's investor-protection authority.

Access to Individual Transactions Statement expanded to administrative commissioners, broadening jurisdictional ITS visibility for all PANs.
Three operational changes to the CIB module: a new excel extraction feature for non PAN/invalid PAN AIR data with mandatory query fields and RCC level role access for provision to Designated Assessing Officers; expansion of ITS access to administrative Commissioners via the AR_CIT role for all PANs under their jurisdiction irrespective of scrutiny or demand; and temporary deactivation of the automated PAN assignment process for non PAN CIB data to speed online dissemination to Ranges/AOs, with other processes unchanged.

Audit objection adjudication permitted after one year from reply if the Local Audit Report remains unconverted to SOF or DAP.
Where a Local Audit Report (LAR) is not admitted by the department and is not converted into a Statement of Facts (SOF) or Draft Audit Para (DAP) by CERA, show cause notices issued on that LAR may be adjudicated after one year from the date of sending the department's reply to the LAR, provided that immediately before adjudication the LAR has still not been converted into SOF or DAP; this modifies the earlier instruction to issue show cause notices immediately on receipt of audit objections.

Transaction value: MOU price not treated as transaction value; inter company valuation instructions withdrawn, pending appeal, SCNs stayed.
The Board withdraws its earlier guidance treating MOU prices between oil companies as constituting transaction value for excise valuation, in light of a contrary tribunal decision; pending show cause notices on inter company sales are to be consigned to the call book until final determination of the pending appeal, and appeals may be filed immediately where within review or appeal periods.

Revalidation of duty credit scrips limited; re-credit of special additional duty allowed only under custody or short validity conditions.
Amendments permit revalidation of freely transferable Authorisation and Duty credit scrips only when validity expired in Customs/RA custody; introduce a six month maximum revalidation from endorsement to allow re-credit of 4% Special Additional Duty into freely transferable Duty credit scrips (including DEPB) where remaining validity is under six months; establish 24 month validity for Chapter 3 duty credit scrips and restrict DEPB revalidation except under those two exceptions.

Special Additional Duty re-credit restores duty credit scrip balances after Customs refund, conditional on prescribed documents and endorsements.
Applicants must submit the original duty credit scrip and the consolidated certificate (credit note) issued by the customs authority to the Regional Authority that issued the scrip; the RA will endorse the scrip with the re-credit amount, may revalidate the scrip for six months, and must notify the customs authorities at the port of import and port of registration. Transferees claiming proportionate re-credit must produce an attested copy of the scrip, proof of transfer, the consolidated certificate and an Indemnity Bond; the RA will issue a duplicate scrip with a six-month validity after scrutiny and notify customs.

Responsibility to verify shipment records via auto e-mail: parties must check statuses and report discrepancies promptly.
Responsibility to verify the electronic status of Bills of Entry and Shipping Bills is placed on Custom House Agents, importers and exporters through the existing e-mail enquiry facility, which provides status by document number or by PAN-based CHA license number and IEC code; recipients must check these details daily and promptly report any B/E or S/B recorded in their name that they did not file, and failure to verify and report will preclude pleading ignorance in subsequent investigations.

Bond balance enquiry now available by auto-email; use prescribed subject formats to receive automated bond status and profile.
An e-mail enquiry facility permits ascertainment of running bond balances and Status holder/100% EOU profiles by sending requests to [email protected] using exact subject-line tokens (imp:bondbal:agent:, imp:bondbal:bond:, com:stareou:iec:). Replies are auto-generated and sent as attachments to the originating e-mail. Users must match subject formats precisely, report discrepancies against agent codes or IECs immediately, undertake periodic balance checks, and use provided contacts for assistance.

Brand rate deadline: submit brand rate letters and BRCs to avoid drawback claims being processed at zero rate.
Applications for fixation of Brand Rate under Rules 6 and 7 must be filed within the prescribed period and verified by the jurisdictional Central Excise division within specified time limits; Brand Rate letters must be issued after validation and communicated to the Custom House. The Drawback section will not process shipping bills absent Brand Rate letters received by fax or registered post. Under Rule 15, exporters must file a Supplementary claim within the prescribed period after Brand Rate communication, and Brand Rate claims pending over one year will be processed at zero rate unless requisite documents and supplementary claims are submitted.

Tax Deduction at Source on interest provisioning clarified: TDS not required on CBS macro monitoring entries; deduct on actual credit.
Where banks using Core Branch Banking Solution calculate and park interest on time deposits in a provisioning account for macro monitoring only, such parking does not constitute constructive credit to the depositor; therefore tax need not be deducted at source on those provisioning entries. Tax shall be deducted at source when interest is actually accrued, credited, paid, matured or encashed, or at periodic intervals as per bank or depositor practice, whenever aggregate interest in the year exceeds the statutory threshold for deduction.

Valuation of debt instruments: standardise traded price, amortisation, and benchmark yield based valuation to reflect market conditions.
Valuation is standardised by residual maturity and tradability: short residual securities are valued at weighted average traded price or amortization basis (floating rate with floors/caps amortised using the floor), while longer residual traded securities use weighted average traded price and non traded securities use a benchmark yield/matrix of spreads from agencies appointed by AMFI; securities outside the framework must be reported to AMFI and may be valued by AMC proprietary models approved by trustees and auditors until incorporated into the matrix.

Dissolution of Development Council ends the Council's official status and functions upon publication of the dissolution order.
Dissolution of the Development Council for Textile Industry is ordered under the executive powers conferred by the Industries (Development and Regulation) Act, 1951, the Central Government, satisfied it should cease to continue and that dissolution is in the public interest, dissolves the Council with effect from the date of publication of the order, removing the Council's institutional status established by prior government notification.

Currency export/import limits altered for resident travellers; revised per-person cash ceiling applies excluding Nepal and Bhutan.
The amendment increases the permissible amount of Government of India and Reserve Bank of India currency notes that a resident may take out of, or bring into, India on a temporary visit (excluding Nepal and Bhutan), raising the per person cash carriage limit to Rs.7,500 and replacing the previous lower ceiling under Regulation 3(1)(a) and (c) of the relevant FEMA notification.

Post-clearance audit non-response triggers system interception of live bills until importer compliance and NOC issuance.
If importers or CHAs do not respond within 30 days to Query Memos or Consultative Letters issued by the Post Clearance Audit section, the EDI/Risk Management system will intercept live Bills of Entry for other consignments of the non complying importer. PCA will, with approval of the Joint/Addl. Commissioner, refer the importer's name and IEC code to the LRM section to introduce the interception target, which will be removed only upon importer compliance and issuance of an NOC by the PCA Joint/Addl. Commissioner.

Disclosure of investor complaints and arbitration details: depositories must publish standardized reports to boost grievance transparency.
Depositories must publish on their websites detailed disclosures of investor complaints, arbitration proceedings, and penal actions concerning Depository Participants and listed companies using prescribed report formats. Reports must capture complaint types, DP status, arbitration filings and awards, penal orders and related status codes; one report is updated weekly and others quarterly. Depositories must inform DPs, companies and RTAs, amend bye laws or rules if necessary, and report implementation status to SEBI, under the statutory mandate to protect investor interests and promote market regulation.