Bank AD Code accuracy required for guarantee data to auto-populate; procedure established for EDI helpdesk AD Code updates.
Importers and CHAs must provide the correct AD Code of the bank branch issuing a Bank Guarantee so bank particulars auto-populate from the ICES system. Where a registered AD Code does not appear in Import or Export menus, the CHA/Importer must approach the EDI helpdesk with a copy of the AD Code from ICEGATE, a requisition letter from the importer, and a bank letter; the EDI helpdesk TA will then enter the AD Code into both menus.

Factory stuffing permission procedures require verification of premises and NOC with willingness to depute officers for supervision.
Procedures require LoFSP applicants to submit verification reports confirming genuineness, existence and functioning of premises and availability of infrastructure for container stuffing, together with NOC/willingness from jurisdictional Central Excise authorities to depute officers to supervise stuffing; Annexures A-C provide prescribed formats for manufacturers, merchant exporters and supporting manufacturers and exporters/authorities are instructed to follow these formats to avoid delays.

Timely filing of Special Leave Petitions required to ensure prompt appellate processing and compliance with prescribed timelines.
A zero-delay regime mandates fixed timelines and institutional mechanisms for filing appeals and Special Leave Petitions: CCITs must create High Court Cells to collect and transmit orders, CITs must promptly assess judgments for substantial questions of law, prepare Proforma B with required documents, and forward proposals to the Directorate (L&R) for timely processing, vetting by the Ministry of Law and final filing; delays must be justified and quarterly monitoring reports submitted.

Allocation limits for FIIs adjusted: bidding and FCFS procedures set with entity caps and minimum bid requirements.
Allocation of unutilized FII limits in Government debt long term and Corporate Debt - old is effected via a bidding process on the NSE with per-entity caps and specified minimum bid and tick sizes, and via a first come first serve (FCFS) allocation for remaining amounts opened through a dedicated email channel; FCFS requests have a maximum per-request limit and unutilised portions are subject to a non-utilisation charge equal to the average successful bid premium.

Minimum Export Price imposed on Sona Masuri and Ponni Samba rice for export, Matta rice exempted.
The DGFT, under Para 2.4 of the Foreign Trade Policy, inserted sub para 3(v) in Public Notice No. 36 to require a Minimum Export Price for specified non Basmati rice varieties. The Notice prescribes that Sona Masuri and Ponni Samba exports must meet the MEP while Matta rice is not subject to an MEP, with all other conditions of Public Notice No. 36 remaining unchanged.

Extension of time for using re-credited DEPB/Reward scrips for CVD (SAD) permits additional period to utilize re-credited credits.
Extension of the period for utilization of re-credited DEPB and Reward Scheme scrips to permit use of re-credited 4% CVD (SAD) refund amounts for payment of duty; the manual filing facility for Bills of Entry to utilize such re-credited amounts remains available and all other provisions of the earlier Public Notice continue unchanged. Trade is to report implementation difficulties to the concerned Deputy/Assistant Commissioners of Customs.

Company incorporation procedures streamlined: priority approval for specified incorporation forms enabling one-day registration processing via online system.
Form-1 will require Registrar of Companies' manual approval while routine filings such as Forms 18 and 32 will be processed online, with minor changes taken on record through STP mode. A new high-priority category of Incorporation Forms (Form 1A, 37, 39, 44 and 68) will receive expedited handling to reduce average incorporation processing time to one day.

T bill futures: new cash settled interest rate contract with defined valuation and strict margin and position limit regimes.
SEBI permits cash settled futures on the 91 day Government of India Treasury Bill with defined contract design, quotation as 100 minus futures discount yield, maximum maturity of twelve months, specified contract months and expiry mechanics, and contract valuation formulas for contract, daily settlement and final settlement values using weighted average discount yields. A risk management framework mandates margins based on a 99% one day VaR (3.5 sigma scan), minimum initial margin thresholds, an extreme loss margin, calendar spread margins with reduced extreme loss treatment, volatility estimation by exponential moving average ( =0.94) converted to price volatility via modified duration, and prescribed position limits for clients, trading members and FIIs.

Cenvat credit availability affirmed for readymade garments and textile made ups; vaccine exemption clarified for national immunisation program.
Cenvat credit is available to manufacturers of readymade garments and textile made ups, including merchant manufacturers who get goods made on job work basis, effected by amendment to the definition of manufacturer or producer in clause (naa) of rule 2 of the Cenvat Credit Rules, 2004. Corrections to several notifications dated 1 3 2011 have been posted; and full exemption for vaccines under the National Immunization Program has been inserted at S. No. 62AA of Notification No. 4/2006 C.E. by Notification No. 19/2011 C.E.

Submission of export documents required: failure to send shipping bills and bill of lading attracts penalties under FT(D&R) Act.
Submission of proof of export under registration certificates for raw cotton is mandatory within ten days of the last shipment; non-compliance attracts penal action under Section 11(2) of the FT(D&R) Act. All allottees must send copies of shipping bills and the Bill of Lading to the RC-issuing authority and send an e-mail confirmation (in the specified sample format) identifying IEC, quantities and shipping details. Non-receipt of the e-mail will be presumed as non-performance under the registration certificate.

Director Identification Number process simplified: online eForm with digital verification enables immediate allocation when professionally certified.
The procedure for allotment of Director Identification Number is converted to an entirely electronic process with scanned document attachments and online fee payment; applicants may file using their digital signature and professionals may digitally sign DIN 1 after verifying applicant particulars. Professionally certified applications receive immediate system approval; other applications are reviewed by a DIN cell and disposed of within one to two days. The Companies (Directors Identification Number) Rules, 2006 will be amended accordingly, the procedure applies to DIN 4, and penal action for false information remains available.

Commission to non-whole time directors allowed without central approval when within statutory net profit limits and sitting fee retained.
Companies need not seek Central Government approval to pay commission to Non-Whole Time Directors where the aggregate commission does not exceed one percent of net profit if the company has a Whole Time Director or Managing Director, or three percent of net profit where it has no Managing Director or Whole Time Director; such commission may be paid in addition to the sitting fee.

Direct Port Delivery for accredited importers allowed selectively; file Bill of Entry, pay duty, take delivery and clear containers within 24 hours.
Direct Port Delivery (DPD) is permitted selectively for ACP status importers upon application to the Commissioner; DPD requires filing RMS facilitated Bills of Entry, payment of duty, immediate readiness for delivery, presentation of original documents to the DPD officer at Ernakulam Wharf who issues an Out of Charge subject to seal verification by the Divisional Superintendent/Preventive Officer at ICTT Vallarpadom; damaged or tampered seals preclude DPD and such containers are sent to CFS. Importers must clear containers within 24 hours and submit monthly Annexure B reports.

Customs custodian appointment governs container handling, cargo storage, and transit operations at the notified container freight station.
M/s Container Corporation of India Ltd. is appointed as custodian of FCL/LCL containers, over-dimension and break-bulk cargo, imported goods received by road or rail, and export goods handled through its Container Freight Station at Majerhat, which is specified as a custom area. The CFS may also be used for storage and handling of Nepal and Bhutan cargo in transit for import and export. The appointment is made under section 45(1) of the Customs Act, 1962, effective from the date of the notice, initially for five years, subject to review and satisfaction of the Commissioner of Customs (Port).

Terminal Excise Duty declaration now required from recipients to obtain TED and deemed export drawback benefits.
Amendments clarify that ANF 8 applications remain filed by registered/head/branch/manufacturing offices with branch/manufacturing units furnishing a self certified RCMC. Recipients may claim drawback on a supplier declaration in Annexure III; TED refunds require a recipient declaration in Annexure II certifying non availment of CENVAT credit. Annexure II is retitled for TED, to be on recipient letterhead with contact details. Annexure III is retitled for Deemed Export Drawback, revised to address non availment of CENVAT on inputs/components, provide alternative declarations, require jurisdictional Central Excise address, contact details, and duplicate supplier letterhead submissions.

Export restrictions for specified non-Basmati rice require port-specific quotas, consumer packing, IEC caps, testing, and MEP compliance.
Export of Sona Masuri, Ponni Samba and Matta rice is allowed only within specified variety-specific quantity ceilings and designated ports, subject to mandatory conditions: consumer packing up to 10 kg, a per-IEC export cap on all three varieties enforced via self-declaration filed with customs and the Regional Authority, time-limited authorization to the stated marketing season, customs sampling and AGMARK testing, and compliance with a Minimum Export Price; false declarations attract penal action including debarment and IEC suspension.

Project import security: cash security replaced by bank guarantee requirement, renewable until proof of utilisation/installation is filed.
Cash security under Project Import Regulations is discontinued; a bank guarantee equivalent to two percent of the CIF value, subject to a cap, must be furnished on project contract registration and supported by an undertaking to renew it until contract finalisation. Renewal need not continue after a short period following submission of proof of utilisation or installation from the jurisdictional central excise or other specified authority. Exemption for Government departments and public sector undertakings remains unchanged.

Service tax scope expansion: new services and compliance reforms change liability timing, valuation and credit treatment.
Service tax coverage is widened by adding two new taxable services and expanding many existing service definitions to capture investment management, expanded coaching, club services to non members, business support, legal and specified clinical establishment services, with targeted abatements and tariff thresholds. The compliance regime is reworked to incentivise self correction through reduced penalties when complete records exist and dues are paid, while stiffening sanctions and prosecution for deliberate evasion. Point of Taxation Rules determine the time of supply (earliest of provision, invoice or payment). Cenvat Credit Rules are clarified and restricted, valuation for money changing prescribed, and export/SEZ rules amended with specific exemptions.

Duty restructuring and self-assessment: unified rate changes, exemptions withdrawn and new recovery and Cenvat rules introduced.
Restructuring of central excise and customs duties introduces revised tariff rates and valuation bases, targeted withdrawal of exemptions with a nominal levy and denial of input credit for affected items, bespoke duty adjustments for cement, garments, automobiles and precious metals, and expanded concessional coverage for specified public-interest and green technologies. Procedural and legislative reforms recast penalty, interest and recovery provisions including a new first-charge on defaulters' property, empower self-assessment with verification and audit safeguards in customs, and broaden Cenvat Credit definitions and attribution rules while imposing specific limits and reversal requirements.

Central excise and customs amendments: revised duty rates and a new self-assessment framework with valuation and credit changes.
Immediate-effect notifications implement Finance Bill, 2011 proposals for Customs and Central Excise: a 10% standard central excise rate for non-POL goods and merit rate increase to 5%; commodity-specific changes for cement, garments, vehicles and precious metals; withdrawal of many exemptions replaced by a 1% nominal levy (no Cenvat credit) or a 5% concessional/tariff rate; broad amendments to Cenvat Credit Rules clarifying inputs and input services, limiting ship breaking credit and tightening reversals; re-drafted recovery, interest and penalty rules including an inserted first charge on defaulters' property; customs reforms include fused lower duty slabs to 2.5%, valuation changes for packaged software, new export/import duty adjustments, and introduction of a trust based self-assessment regime with accompanying procedural and electronic filing changes.