Sealing of premises during VAT surveys permitted for obstruction; de-sealing and resumption allowed subject to statutory safeguards.
Section 60 authorises survey teams to enter premises and seize incriminating documents and goods, and to seal premises when a dealer obstructs or refuses cooperation; de-sealing is permitted only in accordance with the Act and rules. If a survey cannot be completed due to inadequate staff or hours, the team may, with supervisory approval, suspend the search, secure the premises by locking and affixing a seal or mark and, if necessary, post a security guard, and resume the survey the next day from the point it was left.

Leave sanction requirement: officers must obtain prior sanction and complete charge handover before proceeding on leave.
Officers shall not proceed on any kind of leave, including Earned Leave, unless the leave is sanctioned in a timely manner and a proper handing over of charge is completed where required; field formations must instruct personnel under their jurisdiction to ensure strict compliance.

FPI investment permissions expanded to include REITs, InvITs and Category III AIFs, subject to regulatory conditions.
Permits FPIs to invest in units of REITs, InvITs and Category III AIFs under Regulation 21(1)(n), subject to SEBI terms and a maximum FPI stake in Category III AIFs. Authorises FPIs to acquire NCDs/bonds under default, guided by RBI definitions for amortising bonds; restructured instruments must have a minimum revised maturity of three years. FPIs must disclose offer terms to Debenture Trustees and investments count against the extant corporate debt limit while remaining subject to existing corporate debt rules.

Amendments to Import General Manifest require classification, prescribed documents, and strict approval timeframes for shipping lines.
Procedures require shipping lines to apply on letterhead using the prescribed Annexure A form for amendments to the Import General Manifest, which are categorised as Major or Minor. Minor amendments are to be approved within 24 hours and major within 48 hours unless fraudulent intent or substantial revenue implication triggers adjudication. Specific documentary requirements are specified for consignee name changes, Bill of Lading changes, commodity description amendments, High Seas Sales, transshipment to SEZs/FTWZs, and LCL/HUB SMTP, and the shipping line bears sole responsibility for penalties arising from IGM amendments.

Processing of time barred tax returns via online TMS enables resolution of PAN and system impediments while safeguarding tax credit rules.
Two separate online TMS functionalities permit processing of otherwise time barred returns: Online TMS (category 1) for returns with genuine PANs blocked by migration, de duplication, deletion or jurisdictional issues-allowing AOs to process returns outside PAN jurisdiction with online tax credits and later integration into AST; and Online TMS (category 2) for returns with invalid or mismatched PANs-disallowing tax credit integration, preventing refunds, keeping processed data standalone, and requiring the AO to record reasons and pursue PAN correction.

Deemed conclusion of proceedings: payment by primary noticee closes proceedings against co-noticees when no duty demand exists.
Clarification states that the deeming of conclusion under Section 28 occurs only when the person to whom a duty-demanding SCN is issued pays all dues (duty, interest and penalty); other persons means co-noticees against whom no duty demand is made, who benefit from closure only upon such payment by the principal noticee, and the adjudicating authority must issue an order recording closure. The deeming facility covers recovery of erroneous refunds involving duty, interest and/or penalty and excludes seizure or confiscation matters.

Integrated Declaration centralizes import-clearance data for single-point electronic submission and online PGA clearances.
The Integrated Declaration centralizes all import-clearance information into the electronic Bill of Entry for single-point submission via ICEGATE, replacing multiple PGA-specific forms and standardized company undertakings, providing a supporting-documents section and enabling digitally signed document capture; it applies to EDI-mode consignments while manual-mode documentary requirements continue to operate.

Direct Port Delivery centralizes DPD processing, coordination and enquiries for importers and customs brokers.
A dedicated Direct Port Delivery Cell at the custom house centralizes DPD application processing, correspondence handling, coordination of customs-clearance tasks (including advance IGM filing and amendments, duty payment and scanning), and maintenance of an importer-wise DPD clearance register for daily submission to the supervisory office.

Tax credit mismatch protection: Assessing officers must not recover TDS demands from deductee when deductor failed to deposit.
Assessing officers are directed not to enforce or recover demands against a deductee to the extent tax has been deducted but not deposited by the deductor; Section 205 bars direct demand and coercive enforcement for tax-credit mismatches arising from the deductor's non-payment.

Reconstitution of Permanent Trade Facilitation Committee expands stakeholder representation to improve customs clearance and ease of doing business.
Announcement reconstitutes the Permanent Trade Facilitation Committee at JNCH to broaden stakeholder representation for improved trade facilitation; it lists current member categories-including customs officials, technical officers, trade associations, terminal and port operators, banks, CFS and warehousing representatives, and regulatory officers-and invites additional trade bodies and stakeholders to submit willingness to participate in monthly PTFC meetings to enable formation of a reconstituted committee.

Grievance monitoring: maintain weekly feedback, contact complainants, and submit consolidated monthly report to central grievance email.
Chief commissioners/directors general and subordinate commissioners/ADGs must contact complainants telephonically, record weekly feedback in a prescribed format capturing registration, complainant details, nature of grievance and quality of redress, and compile consolidated electronic monthly reports to the central grievance inbox by the tenth of each month with copies to Zonal Members.

Valuation of imported set top boxes: do not base CVD on Retail Sale Price where no transfer of property or RSP packaging exists.
Where Set Top Boxes imported by a DTH provider are supplied free to consumers without transfer of property, hire-purchase, or instalment payments, the condition for valuing CVD on Retail Sale Price is unmet because Legal Metrology requires an RSP-printed retail package and a sale to an ultimate consumer; therefore CVD should not be levied on the basis of RSP and the Tribunal decision in Bharti Telemedia Ltd. should be followed in identical cases.

Classification of wireless microphones now treated under the microphone tariff heading; pending assessments to be finalised accordingly.
Consequent to deletion of tariff line 8525 50 50 in the Finance Bill, 2016, all microphones including wireless microphone sets/systems consisting of one or more wireless microphones and a wireless receiver are classifiable under tariff item 8518 10 00; pending assessments may be finalised accordingly and difficulties may be reported to the Board.

Currency denomination restriction removal allows foreign-going vessels to carry Indian currency notes of any denomination for onboard disbursements.
The Board withdraws the earlier denomination restriction on Indian currency carried by merchant ships for onboard disbursements, following revised Reserve Bank guidelines that do not prescribe any restriction on denomination carried by an Indian traveller or ship captain; carriage and disbursement remain subject to the usual conditions prescribed by the Reserve Bank.

Agricultural income verification required to confirm genuineness, correct entry errors, and report adjusted claims promptly.
Assessing officers must verify high-value declarations of agricultural income to ascertain genuineness, correct inadvertent data-entry errors, and identify possible improper routing of funds; where scrutiny under section 143(3) is complete provide feedback from assessment records, and where proceedings are pending conduct thorough verification. A departmental list of cases is available on itaxnet for jurisdictional action and officers must submit a consolidated status report to the Directorate by the stated internal deadline to enable accurate reporting to the court.

Arm's Length Price determination governs when Assessing Officers must refer cases to Transfer Pricing Officers and follow procedural safeguards.
Determination of the Arm's Length Price requires Assessing Officers to refer cases to the Transfer Pricing Officer only in prescribed circumstances: mandatory referral when cases are selected on transfer pricing risk parameters; referral where transactions are undeclared or omitted from the accountant's report; where past transfer pricing adjustments are significant and contested; or where transfer pricing issues arise from search, seizure or survey. The AO must record satisfaction of potential income effect and afford the taxpayer an opportunity to be heard before seeking approval to refer. The TPO must determine ALP using the prescribed methods, issue speaking orders with reasons and data, and maintain detailed records.

Exchange Traded Cross Currency Derivatives: permitted subject to specified trading hours, position limits, dynamic price bands and margining.
SEBI permits recognized exchanges to introduce cross currency futures and options on EUR USD, GBP USD and USD JPY and exchange traded currency options on EUR INR, GBP INR and JPY INR, subject to RBI permissions, prescribed position limits, submission of contract specifications to SEBI, specified trading hours with enhanced intra day SPAN updates, Dynamic Price Bands for orderly trading, and a detailed margining, settlement and risk management framework including initial, extreme loss and calendar spread margins and INR cash settlement.

Monetary thresholds for appellate filings limit departmental cross objections and High Court references; below limit filings may not be considered.
The Board clarifies that the increased monetary limit for appeals to the Income Tax Appellate Tribunal applies equally to departmental cross objections; cross objections below the monetary threshold already filed should be pursued for dismissal as withdrawn/not pressed and such filings may not be considered henceforth. The same monetary threshold rule applies to references to High Courts; references below the threshold should be pursued for dismissal as withdrawn/not pressed and future references below that limit may not be entertained.

Implementation monitoring of tax administration reforms mandates publication of recommendation status and ongoing digital and governance measures.
Department of Revenue instructs CBEC to publish on its website a status statement of accepted, under-implementation, and under-examination TARC recommendations affecting CBEC, summarising chapter-wise dispositions and listing implemented operational reforms such as the Directorate General of Tax Payers Services, SEVOTTAM adoption, digital platforms (ACES, ICES, RMS), Directorate General of Performance Management, integrated Audit Commissionerates, automated refund interest, customs single window progress, and a formal Data Sharing Policy with periodic information security audits.

Scrutiny of VAT returns mandates targeted monitoring of specified dealer categories and enhanced ITC-output matching.
Ward officers must use enhanced software validations and ITC output matching to target high risk dealers-new registrants with sudden GTO growth, large statutory form downloads without matching sales, circular trading, abrupt cessation of filing or registration, persistent nil GTO returns, frequent refund claimants, non payers and sustained excess ITC carry forwards-and trigger assessments from mismatch reports where discrepancies persist; on cancellation prefer framing assessments and serve notices at the cancellation address, compel registration of liable unregistered dealers, expedite recovery where no stay exists, and rely on system reports and alerts.