Line of Credit conditions: Exim Bank LOC requires majority India sourcing and sets timelines for LCs and disbursements.
Exim Bank's Line of Credit finances eligible Indian goods, services, machinery, equipment and consultancy for a Cuban milk powder plant. Supplies must meet Foreign Trade Policy eligibility and majority sourcing from India, with a limited share of non consultancy inputs permitted from abroad. The LOC sets fixed windows for opening Letters of Credit and disbursements depending on contract type; shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commissions from their own resources or Exchange Earners' Foreign Currency balances subject to AD Category I bank compliance and realization of contract value.

Line of Credit for project exports requires majority India-sourced supplies and compliance with FEMA export formalities.
Exim Bank's Line of Credit to Cameroon finances eligible Indian goods, services, machinery, equipment and consultancy for a plantation project, requiring at least 75 per cent of each contract price to be supplied from India and permitting up to 25 per cent procurement outside India; shipments must be declared on GR/SDF forms, no agency commission is payable under the LOC (exporters may use own or EEFC funds subject to realization), and AD Category I banks must notify exporters and permit remittances in compliance with prevailing instructions. Directions are issued under FEMA.

Work reallocation of senior tax officers reallocates departmental responsibilities and branch functions under administrative order.
Re-allocation of work among senior officers of the Department of Trade & Taxes takes effect on 1 April 2013, assigning named officers to distinct functional responsibilities such as vigilance, enforcement, law and judicial matters, HR, coordination, EXIM, refunds, special zones, systems, FM, recovery and zonal oversight. The order further allocates ancillary branch duties: HR Branch to handle training, finance & accounts, planning, public grievance and RTI; FM Branch to handle printing, library and operations; and other branches to specified support functions.

Territorial and pecuniary jurisdiction fixed for VAT objections, allocating officers by zone and dispute value.
Fixes the territorial and pecuniary jurisdiction of tax officers to receive objections under clause (a) or (b) of sub section (1) of Section 74 of the Delhi VAT Act, allocating objection authority by geographic zones/wards and by disputed amount threshold, with higher value disputes assigned to Special Commissioners and lower value disputes to Additional and Joint Commissioners; identifies certain specialized divisions and takes effect from the stated commencement date.

Appeals jurisdiction revised: commissioners assigned to handle VAT and CST appeals above and below the monetary threshold.
Order assigns departmental appeals responsibility under the DST and CST Acts, effective immediately and superseding prior orders: Special Commissioner-I to handle all appeals above the prescribed monetary threshold and ACTT officer R. N. Mangla to handle appeals at or below that threshold; issued with prior approval and circulated to principal officers and records files for implementation.

Cosmetics import registration required: imports allowed only for products registered with DCG(I) and applications must be filed.
Imports of cosmetic products are permitted only where the product is registered with the Drugs Controller General (India); importation without such registration is an offence under the Drugs and Cosmetics Act. Importers must submit registration applications to the Drugs Controller General (India) and follow published guidance on the Central Drugs Standard Control Organisation and Ministry of Health and Family Welfare websites.

Removal of original KYC document submission - agencies no longer require originals for KYC under amended regulations.
Amendment removes the requirement for clients to send original KYC documents to KYC Registration Agencies (KRAs), altering the documentary submission practice for intermediaries and reporting entities that rely on KRAs for client identity and verification records. The amendment modifies prior SEBI circulars to the extent they required original document transmission, while leaving other provisions of those circulars intact.

Pre-shipment inspection agency recognition expanded: five agencies added and operational regions for several agencies widened under trade policy.
Five Pre Shipment Inspection Agencies are added to Appendix 5 of the Handbook of Procedures with specified contact details and operational regions, one of them granted recognition for a six month period; existing PSIAs have corrected entries and expanded areas of operation, and the amendments take effect immediately under powers conferred by the Foreign Trade Policy.

Brand Rate Drawback requirement: exporters must submit sanction or attested application copies or claims may be treated as not pursued.
Exporters and customs brokers must submit either the Brand Rate sanction/fixation order from the jurisdictional Central Excise Commissionerate or, if not yet fixed, a copy of the application filed with a self-declaration that the Brand Rate remains unfixed; both documents must be attested by the jurisdictional DC/AC of Central Excise. Failure to submit by the deadline will result in pending Brand Rate drawback shipping bills being disposed of as not pursued.

Waiver of surety deadline prompts acceptance of registration applications at front offices to ease public access.
The Commissioner directed that DVAT-04 registration applications be accepted at the Central Front Office and at concerned Ward offices during 25.03.2013-31.03.2013 to accommodate expected high volumes in view of the 31.03.2013 waiver of surety deadline, and requested Systems and ward units to make necessary arrangements for receipt and processing.

Online TMS access for processing tax returns with PAN migration or de duplication issues to prevent time bar expiry.
Extension of Online TMS permits Assessing Officers to process returns time barring due to PAN migration, deletion, de duplication or restoration by entering and processing returns across jurisdictions until integration into AST is commanded by the jurisdictional AO; processing remains prohibited for invalid or absent PANs or name mismatches, with procedures set out in the user manual and support via Co desk.

Contract R&D insignificant risk: criteria defined for Indian development centres; conduct, control, assets and ownership determine transfer pricing treatment.
An Indian development centre may be treated as a contract R&D service provider with insignificant risk only if all five cumulative conditions are met: the foreign principal performs economically significant R&D functions while the Indian centre performs economically insignificant functions; the principal provides funds and economically significant assets including intangibles and the Indian centre does not use such assets; the principal actually supervises and controls core activities; the Indian centre bears no economically significant realised risks; and the Indian centre has no legal or economic ownership of research outcomes, with conduct prevailing over contractual terms.

Profit split method selection requires adequate transfer pricing data; reasons must be recorded if PSM cannot be applied before using alternatives.
PSM is suited for transfer of unique intangibles or interrelated transactions and allocates returns based on relative contributions; cost based methods tied to R&D costs are generally discouraged. Application of PSM depends on transaction nature, functions, assets, risks, and critically on availability, coverage and reliability of data. If a Transfer Pricing Officer concludes PSM cannot be applied due to data deficiencies, the officer must record reasons for non applicability before considering TNMM or CUP, and taxpayers are required to maintain prescribed documentation, so lack of information requires good and sufficient reason.

Dealer registration shifted to online and ward-based processing, ending centralized CRC registration and requiring public notice.
Closure of the Centralized Registration Cell shifts registration of dealers to an online mechanism or to concerned wards; Additional Commissioners are directed to implement the change and ensure public awareness by displaying notices to avoid confusion and inconvenience.

Refund procedure for double e payment of customs duty requires bank verification and E PAO reconciliation before sanctioning refunds.
Double or multiple electronic payments of customs duty become Government deposits once transferred by banks to the Reserve Bank for credit to the Consolidated Fund; banks can re credit customers only prior to such transfer. Refunds of amounts already credited must be made under the Customs Act by sanction order. The importer or agent must file a refund claim with the Deputy/Asst. Commissioner, CRARS (Import), Mumbai, submit a bank Verification Report, and the officer will verify records with E PAO before sanctioning the refund.

Bank guarantee exemption requires affidavit confirming no penalization for specified customs offences, subject to random verification.
Exemption from furnishing a Bank Guarantee under AA/DFIA/EPCG requires that the license holder should not have been penalized during the previous three financial years for specified customs, central excise, service tax offences-including duty evasion, mis-declaration, clandestine removal, wrongful availment of credits or rebates, non-deposit of collected duties, and non-registration with intent to evade-or under FEMA or the Foreign Trade Act; applicants must submit an affidavit declaring compliance, subject to random verification by Customs.

Set-off of refunds under Section 245 requires prior intimation and an opportunity to reply before any adjustment.
Adjustment of refunds against outstanding demands must follow the procedural safeguards under Section 245: CPC, Bengaluru issues prior intimation; the assessee may file a response to the Assessing Officer named in that intimation; the Assessing Officer must examine the reply and, if an adjustable demand is found, communicate findings to CPC, Bengaluru, which will then process the refund and effect any adjustment.

Exchange of information obligations: precisely framed requests and timely responses are required to secure effective bilateral tax cooperation.
Officers must use the Manual on Exchange of Information to seek information under DTAAs, TIEAs and the Multilateral Convention, framing requests precisely, monitoring responses, supplying timely clarifications to foreign authorities, prioritizing incoming treaty requests, meeting prescribed timelines, and providing feedback on the usefulness of information and the Manual's operation.

Electronic funds transfer requirement mandates listed issuers to use approved e-payment modes for investor cash payments.
Listed companies must use RBI approved electronic payment modes (such as ECS variants, NEFT, RTGS) directly or through their registrars and transfer agents, and must maintain requisite investor bank account particulars; depositories shall provide updated bank details for demat holders while companies/agents must collect details for physical holders. If electronic identifiers are unavailable or electronic transfers fail or are rejected, companies or their agents may use physical payment instruments that must print the investor's bank account details.

Corporate bonds and government securities as collateral permitted for FIIs, subject to rating, dematerialisation and haircut requirements.
Permits foreign institutional investors to offer corporate bonds and government securities, alongside cash and foreign sovereign securities with AAA ratings, as collateral for cash and F&O transactions, subject to SEBI and RBI stipulations. Clearing Corporations must ensure bonds are rated AA or above, dematerialised, treated as non-cash liquid assets not exceeding ten percent of total liquid assets, and subject to a fixed-percentage or VaR-based haircut with a minimum initial haircut.