Extension of TDS/TCS deposit deadline: due date for November withholdings and collections extended for specified state deductors.
The due date for deposit of tax deducted at source and tax collected at source in respect of deductions or collections made during November 2015 by deductors located in the State of Tamil Nadu is extended from the original statutory due date to a later specified date; the extension is issued under the Central authority's statutory power and applies only to the stated month and territorial scope.

Interest equalisation on pre/post-shipment rupee export credit requires banks to pass benefits and file audited reimbursement claims.
Interest equalisation of 3% per annum applies to pre- and post-shipment rupee export credit for eligible exporters (excluding merchant exporters), covering specified 416 HS lines and MSME exports, subject to minimum processing rules of origin. Banks must fully pass on the benefit-crediting accounts for April-November 2015 claims and reducing charged interest from December 2015-and submit sector-wise consolidated reimbursement claims to RBI in the prescribed format with an External Auditor's Certificate; reimbursements will be made by RBI from government provided revolving funds.

Clearance of flood-affected goods requires fresh statutory clearances and customs permission before release from customs area.
Goods affected by the November 2015 floods require immediate incident reports by custodians listing affected consignments and relevant BE/IGM/container details in prescribed annexures; affected consignments shall not be cleared without fresh statutory clearances and specific permission of the Assistant Commissioner of Customs, and any segregation or survey within customs area needs prior customs approval and presence of Customs officer and broker.

Export proceed monitoring requires six monthly BRC or negative certificate to verify realization and enable drawback recovery.
Monitoring of realization of export proceeds governs drawback recovery where proceeds are unrealized within permitted time; exporters must declare Authorized Dealers and furnish, portwise and ADwise, either Bank Realisation Certificates or prescribed negative certificates from the AD or a chartered accountant on a six monthly basis. The ICES BRC module generates due dates on drawback shipping bills, tracks pendency, accepts specific BRC entries or negative statements to clear shipping bills, and permits entry of recovery particulars to remove bills from the pending list.

De-stuffing access and streamlined shipping bill registration ease dock operations and allow part-clearance for multi-container consignments.
After issuance of an Out of Charge Order, importers and customs brokers may directly approach the supervising Superintendent/Preventive Officer for de-stuffing without requiring Asstt./Dy. Commissioner (Docks/CFS) permission. Registration of Shipping Bills at Docks/CFSs is allowed until 3 P.M., with later registrations permitted case-by-case by Asstt./Dy. Commissioner. For multi-container consignments arriving in lots, officers will examine arrived containers and issue manual Out of Charge Orders, later uploading reports and generating system Out of Charge Orders; additional Removal Guarantees at sheds are discontinued.

Appointment of common adjudicating authority focused on high-value and high-severity DRI investigations under amended guidelines.
Amendment assigns specified high-value DRI investigations to the Additional Director General (Adjudication), DRI-covering high-duty cases, groups of identical-issue cases aggregating to a high threshold, high seizure-value matters, significant wrongful export incentive cases, groups of such incentive cases, substantial import overvaluation cases, and DRI cases pending with erstwhile Commissioners (Adjudication). Other DRI cases will be allocated based on the maximum duty evaded, export incentive wrongly availed, or overvaluation amount. Non-DRI case appointments remain with the Board, and the modified guidelines apply mutatis mutandis to subordinate Commissioner levels.

Tariff classification guidance for pump parts enables drawback eligibility regardless of four digit chapter classification.
Guidance permits classification of identifiable ready-to-use machined pump parts predominantly of iron, steel or aluminium, made by casting or forging, under the relevant heading 8487, 8548 or 8708 when no six digit entry exists; consequently pump parts absent from six digit drawback entries are to be classed under tariff item 848701 and admitted to drawback irrespective of four digit chapter classification.

Online transmission of MEIS scrips enables automatic integration and nationwide usability after port verification by exporters
MEIS licences/scrips issued by DGFT will be transmitted to Customs via an Electronic Message Exchange System and integrated with ICES, eliminating manual port registration; exporters/CBs must verify transmission on DGFT/ICEGATE and get the scrip verified once at the port of registration for all India use. Exporters must select the Y option on Shipping Bills to ensure data transmission to DGFT; manual registration continues only for scrips under earlier Chapter 3 schemes.

Small-value refunds in non-CASS cases to be expedited for assessment years, directing officers to process and issue them promptly.
Directs expedited processing and issuance of income tax refunds in non-CASS cases where the claim falls below the prescribed small-value threshold for the relevant assessment years; assessing officers are instructed to prioritise determination and disbursement of these refunds, noting that many returns remain pending and some have been forwarded by CPC to Assessing Officers for resolution.

Bond cancellation procedure for advance authorisations: mandates prompt retrieval, prioritized checks, and set timelines for return of securities.
Directs proactive retrieval of bond files before expiry of export obligation, prescribes that random verification checks be restricted to 5% of authorisations and selected at Joint/Additional Commissioner level using EDI risk parameters, and requires immediate email notification to exporters of selection. Workflows must ensure file readiness (one day turnaround if requested before expiry), that Central Excise non response does not delay processing, and that non selected cases normally receive return of bond/guarantee within ten days while other non investigative cases follow a thirty day norm.

Income tax deduction from salaries: employers must deduct TDS for 2015 16 using prescribed rates, perquisite valuation and reporting rules.
Income-tax for FY 2015-16 must be deducted from salaries under Section 192 using Finance Act, 2015 slab rates, surcharge and education cesses; employers must estimate annual salary including perquisites, deduct tax each payment in equal instalments, adjust within year for errors, and may opt to pay tax on perquisites at the employee's average rate. Mandatory PAN/TAN quoting, issuance of Form 16 (Part A via TRACES, Part B manually), e-filing of Form 24Q and Form 24G for book-entry deposits, prescribed valuation of perquisites (Rule 3/Form 12BA), conditions for Chapter VI-A deductions, and interest, penalties and prosecution for defaults are detailed along with procedures for deposit and correction of TDS statements.

Excise duty exemption eligibility continues despite suspension of NEIIPP registrations; new and expanded units remain eligible under notification conditions.
Suspension of fresh registrations for NEIIPP schemes by DIPP is administrative and does not suspend the incentive package; Notification No.20/2007-Central Excise does not require NEIIPP registration as a condition for excise duty exemption. New units and units undertaking substantial expansion after the suspension date and up to the cut-off remain eligible for exemption, subject to the notification's conditions, and field formations and taxpayers should be informed accordingly.

Adviser on Tax Reforms appointed to advise the revenue department, evaluate reform proposals and assist Income Tax Act redrafting.
The Government appointed Smt. Anita Kapur as Adviser on Tax Reforms on a short-term contract to advise the Revenue Department on referred matters, evaluate reform suggestions using empirical data, assist the committee re drafting sections of the Income Tax Act, and present suo moto views on direct taxation policy; concurrently, the Chairperson's duties are to be performed by a designated CBDT member in addition to his own duties until further orders.

Custody of seized valuables: mandatory double lock storage, sealed inventories, CCTV and strict movement and disposal protocols.
Guidelines establish a regulatory framework for custody and handling of seized valuables, defining valuables and mandating appointment of Custodians of unquestioned integrity and a supervisory gazetted officer. Strong rooms must operate a double lock system with separate key holders, tamper proof sealing, CCTV surveillance, and structured packaging. Seizing officers must prepare triplicate inventories with witnesses and forward goods within 24 hours; Custodians inspect seals, record entries in the Valuables Register, maintain photographic and video backups, and report tampering or loss. Movement and disposal require written authorization, movement registers, and videographed inventorisation.

System-driven disclosures require automated promoter shareholding tagging and daily reporting, with RTAs aggregating holdings for exchange dissemination.
A system-driven disclosure framework requires listed companies, through RTAs, to provide authenticated promoter/promoter group information including PANs or account numbers so depositories can tag dematerialised accounts at the ISIN level; depositories will send daily end-of-day holdings to RTAs, which must aggregate dematerialised and physical holdings, apply regulatory thresholds, generate reports and provide them to Stock Exchanges for dissemination, with RTAs reconciling system-generated disclosures against promoter filings to detect and rectify discrepancies.

Registration of duty credit scrips: electronic verification on ICES/EDI with no-alert check and return of originals.
Registration requires submission of the original Duty Credit Scrip with annexure and a photocopy to the Licence Section; TA verifies completeness, timestamps and acknowledges receipt. The No Alert check is endorsed and logged; licence and scrip particulars are entered in the Alphabetical Register and a file number allotted. The Appraising Officer/Superintendent verifies genuineness on ICES/EDI, raises discrepancies where necessary, and on successful electronic registration endorses the EDI job/registration number on the original and copy, after which the original is returned against written acknowledgement while a copy is retained in file.

Reward scheme for VAT compliance shares revenue above targets with market associations to fund market upkeep.
A reward scheme shares a portion of VAT revenue generated over and above set targets with market associations for market maintenance. Eligibility requires registration under the Societies Registration Act, minimum membership and member registration with the department, elected office-bearers, limited defaults, and exclusion of certain dealers. Associations must enrol online with member TINs, meet a year-on-year tax growth benchmark with net tax accounting rules, and have claims assessed by a finance and trade & taxes committee; allocated funds are to be used for approved market infrastructure and upkeep.

Security deposit requirement aligned to issuance regulations; NOC process for release by designated exchange is modified.
Issuer companies must deposit a security deposit with the designated stock exchange for specified issuances and follow SEBI's procedure for issuance of a No Objection Certificate to permit release. Effective December 1, 2015, references to the Listing Agreement are replaced by specific issuance regulations (Issue of Capital and Disclosure Requirements 2009; Issue and Listing of Debt Securities 2008; Issue and Listing of Non-Convertible Redeemable Preference Shares 2013; Public Offer and Listing of Securitised Debt Instruments 2008), and the words "Listing Agreement" are deleted where specified.

Schemes of arrangement: procedural conditions and disclosure required for listing via SEBI relaxation under sub-rule (7) of SCRR.
SEBI prescribes procedural, eligibility, disclosure and compliance requirements for listed entities undertaking Schemes of Arrangement and for unlisted transferee entities seeking listing by way of relaxation under sub-rule (7) of the Securities Contracts (Regulation) Rules. Key conditions include allotment to holders of the listed transferor under a court-sanctioned scheme, minimum public shareholding post-scheme, prohibition on share issues outside the scheme, valuation and auditor reports, stock exchange observation, complaints reporting and specified voting, lock-in and post-sanction listing timelines.

Formats for publishing financial results require standardized disclosure and uniform reporting by listed entities, ensuring comparability and Ind AS compliance.
The circular mandates standardized formats for publishing quarterly and annual financial results for listed entities, specifying separate annexures for companies other than banks, banks, and entities using an alternative functional expense classification, and prescribes segmental disclosures, half yearly assets and liabilities statements, newspaper publication extracts, and auditor report templates; it requires adherence to applicable Accounting Standards, Schedule III classifications, Ind AS comparative compliance, and filing of Form A/Form B for audit opinions.