Standby letter of credit for commodity hedging permitted, subject to remittance approval and specified issuance conditions.
AD Category I banks may issue standby letters of credit or bank guarantees to cover payment obligations for overseas commodity derivative contracts if remittance is permitted under delegated authority or specific Reserve Bank approval. Such instruments must be for margin payments on approved hedging activities, limited to previous year's margin amounts to the counterparty, for up to one year with a lien on non funded facilities; issuing banks must have Board approved policies, treat exposures as part of customer credit, apply risk weights for capital adequacy, and verify brokers' month end reports.

Credit to NRE accounts: account payee cheques allowed when supported by authorised encashment certificates.
AD Category I and authorised banks may credit proceeds of account payee cheques, in addition to demand drafts and bankers' cheques, to a Non Resident (External) Rupee (NRE) account where those instruments were issued against encashment of foreign currency and are supported by an encashment certificate issued by an AD Category I or AD Category II bank.

Computation of export duty: charge duty as percentage of transaction FOB value, with CIF adjusted to FOB for calculation.
A policy transition changes the method of computing export duty from treating declared FOB as a cum-duty assessable value to charging export duty as a percentage of the transaction FOB value actually paid or payable for delivery at export; where transactions are on CIF terms, FOB must be deduced from CIF and duty computed on that FOB, with interim continuation of prior practice through the transition period and an invitation to report implementation difficulties.

Special Additional Duty refunds restructured; designated CRC sections will receive and process claims filed monthly.
Two dedicated CRC refund sections are established to receive, process, monitor and sanction Special Additional Duty refunds and related DEPB group refunds; CRC-II(A) and CRC-II(B) have defined group allocations and CRC-II(B) will also handle public notices and standing orders. Trade must file refund claims to the appropriate section and submit a single consolidated claim each month for the assigned groups.

Handling of cargo in customs areas: proposed regulations to govern receipt, storage and delivery; public comments invited.
Proposal to promulgate the Handling of Cargo in Customs Areas Regulations, 2008 under the powers of sub section (2) of Section 141 read with Section 157 of the Customs Act, framing requirements for receipt, storage, delivery, dispatch and other handling of imported and export goods in customs areas and defining responsibilities of persons so engaged. The CBEC invites comments from trade, industry and officers, with submissions to the Director (Customs) by the stated deadline.

Bilateral trade item expansion adds specified commodities to permitted import-export list to facilitate Indo-Myanmar border trade.
In exercise of Paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade expanded the list of commodities permitted for import and export to promote Indo Myanmar bilateral and border trade by adding eighteen specified items-including bicycle spare parts, life saving drugs, fertilizers, insecticides, textiles, utensils, menthol, agarbatti, spices, cosmetics, leather footwear, paints and varnishes, sugar and salt, mosquito coils, bulbs, blades, X ray and photo paper, and imitation jewellery-to the existing notified list.

Amendment to Export Promotion Councils list updates sectoral jurisdictions and product coverage under the Handbook of Procedures.
The Director General of Foreign Trade, under paragraph 2.4 of the Foreign Trade Policy 2004-09, amends Appendix 2 of the Handbook of Procedures (Vol. I) by revising the list of Export Promotion Councils, Commodity Boards and Export Development Authorities, specifying each body's registered/head office, regional offices and the detailed product categories within their jurisdiction, thereby clarifying which entities hold sectoral oversight and may issue RCMCs for specified products.

Standard Input Output Norms amendment adjusts input entitlement for nylon filament knitted nets, increasing permitted raw material import over exports.
Amendment to the Standard Input Output Norms updates Handbook of Procedures (Vol.2) to alter SION entry H-158 for Plastic Products: exports of nylon filament knitted/knotted nets must be matched with specified nylon input materials, and the permissible input quantity for those materials is increased above the export quantity as set out in the annexure.

VKGUY scheme eligibility updated: maize added as eligible product; export date and ban period rules determine benefit entitlement.
The amendment adds maize to Table 14 of Appendix 37A, making it eligible for VKGUY duty credit scrips from the stated export commencement date. It clarifies that exports during a ban period under transitional arrangements may be excluded from VKGUY benefits per FTP ban-period rules and that the Date of Export for entitlement is to be determined under the Handbook provision governing export date determination; exports determined under that provision remain eligible.

Electronic contract notes expanded to equity derivatives, with mandated digital signature validity and standard messaging formats.
Extension of electronic contract notes to the equity derivatives segment permitting ECNs generated through Straight Through Processing to serve as valid legal documents, adopting IFN 515 and IFN 598 messaging formats, and requiring exchanges to amend bye-laws to permit standard pre-printed terms, allow digital signatures on ECNs, and prescribe a uniform issuance format; where necessary, standard terms absent from ECNs must be incorporated into Client Broker Agreements or Tripartite Agreements.

Administrative supervision assigned to Additional Commissioner to oversee Internal Audit Branch, expanding official responsibilities under department order.
Administrative assignment directing Sh. S.P. Singh, Additional Commissioner IV (Trade & Taxes), to supervise the Internal Audit Branch with immediate effect, added to his existing duties, issued with the prior approval of the Commissioner and circulated to senior departmental officials and relevant files and associations.

Time period for debt limit utilization reduced to 11 working days; custodians must notify their clients promptly.
The period for utilization of an allocated debt limit is amended to 11 working days from the date of allocation, where "working days" means working days of SEBI; custodians must notify their clients. This amendment supersedes the earlier 15 day timeframe to the extent stated and the circular is available on the regulator's website.

Line of Credit terms permit financing of eligible Indian exports with predominant India-origin supply and fixed LC/disbursement timelines.
Exim Bank's LOC to the Government of Rwanda finances eligible Indian goods, services and consultancy for a power project, requiring at least 85 per cent of contract value to be supplied from India with the remainder (excluding consultancy) procurable abroad; the Credit Agreement effective October 15, 2008 prescribes distinct latest dates for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commissions from own resources or EEFC balances subject to AD Category-I bank compliance rules and FEMA directions.

Line of Credit for export finance to Lao PDR with India supply content requirement and FEMA compliance.
Exim Bank provided a Line of Credit to Lao PDR to finance Indian origin equipment, goods and consultancy services for designated projects, requiring a predominant portion of supplies to originate in India while allowing a limited portion of non consultancy goods to be sourced abroad; the LOC sets separate timeframes for Letters of Credit and disbursement for projects and supply contracts, mandates shipment declaration on GR/SDF forms, and prohibits agency commission under the LOC though exporters may use their own funds or EEFC balances for commission remittances, subject to AD Category I bank rules and FEMA directions.

Line of Credit conditions require majority Indian sourcing and regulatory compliance for exports under the LOC.
Line of Credit of USD 25.5 million by Exim Bank to Cote d'Ivoire finances eligible goods, services and consultancy from India, requiring at least 85% of contract value supplied from India and permitting 15% foreign procurement (excluding consultancy). The Agreement (executed June 18, 2008; effective October 3, 2008) sets LC/disbursement deadlines-48 months from project completion for projects and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission under the LOC; exporters may pay commission from own funds or EEFC balances after realization under prevailing remittance rules. Directions issued under FEMA and subject to other legal approvals.

Line of credit terms require majority Indian-sourced supplies, specific disbursement timelines and FEMA compliance, and AD bank obligations.
Exim Bank's USD 100 million LOC for Sri Lanka's Colombo-Matara railway requires at least 85% of contract value to be supplied from India; remaining non consultancy inputs may be sourced externally. The Credit Agreement is effective from October 3, 2008, with LC/disbursement cutoffs at 48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission payments subject to realization and prevailing rules. AD Category I banks must inform exporters and may permit remittances; Directions issued under sections 10(4) and 11(1) of FEMA, 1999.

Line of Credit conditions: Indian content, declaration and commission rules govern exports financed under the Exim Bank-Suriname credit.
Exim Bank provided a Line of Credit of USD 10.59 million to Suriname to finance eligible goods and services from India under India's Foreign Trade Policy, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non consultancy goods to be sourced abroad. The Credit Agreement (effective September 26, 2008) prescribes 48 month disbursement limits for project exports and 72 months for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realisation; AD Category I banks must inform exporters and may allow remittances subject to compliance. Directions issued under FEMA.

Line of Credit facilitation enables financing of eligible Indian exports under FEMA directions, with prescribed shipment and commission rules.
The Exim Bank facility provides a Line of Credit to Afreximbank to finance eligible Indian exports under the Foreign Trade Policy, with prescribed time limits for opening letters of credit and disbursement. Shipments must be declared on GR/SDF forms. Conditional rules for payment of agency commission are specified, including prior approval, deduction from invoices, and impact on reimbursable amounts to negotiating banks. AD Category-I banks must notify exporters and facilitate remittances in compliance with prevailing instructions. Directions are issued under FEMA and remain subject to other legal permissions.

DEPB rates update: amends schedule effective from export LEO date and keeps suspensions operative until revised.
Public Notice 102 (RE-2008) amends the Schedule of DEPB Rates for 2008-09 under Paragraph 2.4 of the Foreign Trade Policy and Paragraph 1.1 of the Handbook of Procedures; the new rates apply to shipments with Let Export Order (LEO) dates immediately and remain in force until further notice, while previously suspended or withdrawn rates continue to be operative unless amended by a subsequent Public Notice.

Jurisdiction for appeals and revisions reassigned, allocating appellate, objection and recovery duties to specified tax officers.
Re-allocation of appellate and administrative jurisdiction assigns Shri K.D. Dogra responsibility for administration, appeals and revisions under the DST and CST Acts for Zone-VI within the prescribed pecuniary limit, objection hearings under the DVAT Act for Zones VI-VIII within the prescribed pecuniary limit, and recovery and collection; Shri Arun Kumar Mishra is assigned Facility Management. The order is issued with prior approval of the Commissioner and circulated for information and compliance.