Export authorization for red sanders value-added products permitted under specified notification; government may export through authorised entities.
Permission is granted for the export of value added products of Red Sanders wood by the Government of Andhra Pradesh, authorising the State to export either directly or through designated entities. Export authorisation will be granted by the concerned Regional Authority of DGFT upon production of a quantity allocation letter from the Government of Andhra Pradesh, implementing the export allowance specified in the cited notification under the Foreign Trade Policy.

Voluntary disclosure permits penalty reduction when a dealer admits tax deficiency and promptly pays and revises returns.
The circular prescribes a voluntary disclosure process under Section 87(6) permitting penalty reduction where a dealer admits tax deficiency during Section 60 proceedings, records un vouched/unaccounted retail cash sales by suitable accounting entries, pays the admitted tax within the short prescribed period following those proceedings, and files revised returns under Section 28; if the Enforcement Assessing Officer accepts the revised return, default assessment need not follow.

Inflation protected savings securities: cumulative CPI linked interest with fixed component, compounding, bank distribution and restricted early redemption.
Inflation Indexed National Savings Securities-Cumulative (IINSS-C) will be offered to retail investors through banks; eligible investors include individuals, HUFs, section 25 charitable institutions and statutory universities. Interest comprises a fixed component and an inflation linked component tied to the combined CPI (Base:2010=100), compounded into principal half yearly and payable at maturity. Early redemption is allowed only on coupon dates, after one year for senior citizens and after three years for others, subject to a penalty equal to 50% of the last coupon. RBI will announce further scheme details.

Delegation of powers under DVAT Act authorises senior officers to hear objections to assessments and orders within jurisdiction.
The Commissioner, under section 68 read with rule 48, delegates powers under section 74(1) to hear objections against assessments and other orders to officers appointed under subsection (2) of section 66 not below the rank of Joint Commissioner, subject to territorial, pecuniary and hierarchical jurisdiction, effective from 12/11/2013.

Input substitution norms updated for niacin exports; Beta Picoline requirement lowered and 3-cyano pyridine specified as alternative.
Modification of SION A-315 revises input norms for Niacin/Nicotinic Acid: production of 1 kg export product may use either 0.980 kg 3-Cyano Pyridine or 0.9 kg Beta Picoline; Beta Picoline quantity reduced from 1.2 kg to 0.9 kg under the Foreign Trade Policy and Handbook of Procedure authorization.

Input-output norm change reduces required Beta Picoline per unit of 3 Cyanopyridine, updates permitted feedstock alternatives.
Modification of SION A-2439 revises the input-output norm for 3 Cyanopyridine: one kilogram of product may be made either from Beta Picoline at the updated norm of 1.05 kg per kg of product or from a specified combination of denatured ethyl alcohol, methyl alcohol, and alumino silicate catalyst; the Beta Picoline requirement has been reduced from the prior norm.

Redemption of export obligation defaults allowed by paying customs duty plus limited interest to close cases.
Authorization holders may regularize pending and adjudicated defaults in export obligation by paying applicable customs duty corresponding to the shortfall plus interest, with the interest not to exceed the customs duty payable; the facility covers duty exemption and EPCG scheme defaults and applies also to cases adjudicated or pending appeal, as a time limited mechanism for closure of pending cases.

Risk Management System in exports automates shipping-bill selection, directing assessment, examination or direct clearance based on risk.
The Risk Management System (RMS) in ICES electronically processes Shipping Bills to classify consignments by risk and direct them to verification of self-assessment, physical examination, or direct Let Export Order (LEO). Officers must follow RMS instructions; exporters/CHAs must comply with Compulsory Compliance Requirements and submit required documents at goods registration and at LEO. Amendments trigger reprocessing and may lead to assessment. In a later phase, RMS will select post-LEO Shipping Bills for Post Clearance Audit to examine potential short levies or undue incentive claims.

Risk Management System to govern export shipping bill selection, enabling facilitation for low risk consignments and targeted verification and audits.
The Risk Management System will electronically process Shipping Bills in the ICES to select consignments for verification, assessment, examination or direct Let Export Order (LEO). Low risk, self assessed bills may be facilitated to LEO after required documents and duty payment; high risk consignments will be interdicted for verification/examination. RMS decisions and instructions, including suggested Compulsory Compliance Requirements (CCRs), must be followed by officers; amendments require prior approval and may trigger reprocessing. Selected bills may be subjected to Post Clearance Audit to monitor compliance and data quality.

Advance ruling jurisdiction excludes questions of law already decided by Tribunal or Court; authority must confirm identical coverage.
Advance ruling authorities lack jurisdiction to hear questions of law already decided by the Appellate Tribunal or any Court for the same party under the cited provisos; the Authority must ensure the prior Tribunal or Court decision fully and squarely covers the identical issue of law before declining an application.

Long term foreign investors designation clarifies eligible foreign categories for participation in infrastructure debt funds.
Specified categories of foreign institutional investors are designated as Long Term Foreign Investors for Infrastructure Debt Funds, including foreign central banks, governmental agencies, sovereign wealth funds, international/multilateral organizations, insurance funds and pension funds; regulated foreign feeder funds are also included when a stipulated portion of their assets under management is held by investors from these categories.

Compliance timeline extension for employee benefit schemes under SEBI guidelines permits additional alignment while disclosures remain mandatory.
SEBI extended the compliance timeline for alignment of existing employee benefit schemes with SEBI (ESOS and ESPS) Guidelines, 1999, amending the Equity Listing Agreement to replace the prior compliance date with a later deadline while reiterating that all other disclosure and compliance requirements from earlier SEBI circulars continue to apply during an ongoing consultative review to frame more enforceable regulations addressing trust composition, disclosures, and safeguards for secondary market transactions.

Filing extension for R.10 block of CST Form 1 granted; non compliance attracts penalty under the DVAT Act.
Extension of the online filing deadline is provided for the R.10 block of Form 1 for the CST return for 2009-10 as part of the 2nd quarter 2013-14 return, with a short additional window for submission of the print/hard copy; failure to file this block after the extended date invites penalty under section 86 of the DVAT Act, 2004. The Central Sales Tax (Delhi) Rules, 2005 are amended to require issuance of Form DVAT-56 receipt on return submission and to substitute a revised Form 1 prescribing detailed turnover, deduction, tax computation and verification fields and instructions, including attachment of C portion challans and reporting of H Form transactions.

Risk Management System: automated selection of export shipping bills for verification or direct clearance enhancing facilitation and compliance oversight.
An automated Risk Management System will process Shipping Bills in ICES to select consignments for verification of self assessment, physical examination, or direct clearance; exporters must comply with consolidated Compulsory Compliance Requirements, submit required documents at goods registration, and follow amendment procedures, while selected bills undergo assessment by the Export Appraising Section and may be subject to subsequent Post Clearance Audit.

Safe harbour reporting: taxpayer details and eligible international transaction specifics requested under Form 3CEFA for return analysis.
A revenue administration requests, from returns filed up to the specified cut off, the name, address, PAN and Assessing Officer of each taxpayer who filed Form 3CEFA and the details of eligible international transactions for which benefit under the Safe Harbour Rules has been opted, to enable analysis of taxpayers electing Safe Harbour treatment and support compliance assessment.

Foreign investment limit in credit-enhanced bonds: purchases monitored, subject to depository approval and mandatory divestment on breach.
FIIs and QFIs may invest in credit enhanced bonds within the corporate bond foreign investment ceiling and a dedicated sublimit. Depositories must monitor and publish aggregate holdings daily, receiving same-day ISIN-wise and investor-wise transaction reports from Custodians/QDPs. When a threshold of the sublimit is reached, depositories will announce it, suspend fresh purchases without prior depository approval, and coordinate prior-approval requests received via Custodians/QDPs; approvals are granted after market hours on a first-come-first-served basis and valid for two trading days. Breaches require notified FIIs/QFIs to divest excess holdings within seven working days.

Regularization of export obligation defaults: one time facility permits payment of duty with capped interest to close outstanding cases.
A one time facility allows regularization of Export Obligation defaults under duty exemption and EPCG schemes by payment of customs duty corresponding to the EO shortfall plus interest, where interest payable is capped at the amount of customs duty. The scheme covers pending cases including those adjudicated or under appeal and requires compliance with the procedures in the referenced Public Notice and Policy Circular; stakeholders are invited to use the facility within the prescribed deadline.

Expedited tribunal hearings: directives issued to clear long-pending settlement cases and strengthen departmental representation.
Directives require expeditious disposal of long-pending ITSC applications with Benches fixing hearings and improved representation; strict no-adjournment practice and timely submission of reports; proactive steps to vacate Supreme Court stay orders on pre-31.5.2007 applications; prior intimation to Member(Inv) before filing writs under disclosure-based settlement provisions; amendment of Rule 44CA to forward entire settlement applications to Commissioners to assess "full and true disclosure"; consideration of placing ITSC settlements within Chapter XIX-A; note on transfer pricing bench designation to expedite adjudication and collection.

Compliance with Settlement Commission directions: immediate reporting, review of stayed cases and prior intimation before filing a writ.
Commissioners must submit reports to the Settlement Commission on time and avoid adjournments, especially for cases filed before 01.06.2007. Chief Commissioners and Directors General must review pending Settlement Commission cases from applications filed before 31.05.2007 where a judicial stay exists, take steps to vacate stays, and send a status list with reasons for pendency to the Member (Inv) CBDT by 28.11.2013. Advance intimation must be given to the Member (Inv) prior to filing any writ challenging a Settlement Commission order under the applicable provision.

Pre-shipment inspection agency notification: new PSIA added to Appendix five of the Handbook, effective immediately.
Amendment to the Handbook of Procedures adds Global Consortium for Inter Border Trade Inspection and Certification Ltd. as a notified Pre-shipment Inspection Agency (PSIA) in Appendix 5, listing its head office and branch offices across multiple regions and taking effect immediately under the Director General of Foreign Trade's authority.