Classification of watch crystals clarified: "Cerium Powder" should be read as "Cerium Oxide Powder" in prior guidance.
The Board clarifies that the expression "Cerium Powder" in its prior circular on classification of watch crystals (glasses) should be read as "Cerium Oxide Powder", a terminological correction intended to ensure accurate description of the polishing/finishing material used in watch glass processing for classification purposes.

Tax deduction at source on credited interest requires deduction when interest is credited, not deferred until maturity.
Obligation to deduct tax at source arises when interest on deposits, debentures or bonds is credited to the payer's books or paid, whichever is earlier; bookkeeping credit to an "Interest payable" or similar account is deemed credit to the payee and triggers deduction duties. For cumulative instruments the deductor must deduct each time interest is credited and deposit the tax with the Central Government within the prescribed time; a small-amount exemption for aggregate interest in a financial year applies and other statutory exemptions remain available.

Central excise procedure simplification to streamline permissions, gate passes, records, and self-assessment processes.
A Task Force has been constituted to examine and recommend simplification of Central Excise procedures, addressing delegation of permissions under Rule 173H, multiple gate passes and amendment of Rule 52-A for quadruplicate gate passes, provisional assessment formalities, simplified RG-1 records for SSI units, production weight adjustment for captive transfers, acceptance of excise duty deposits through assessees' bankers, notional credit to SSI suppliers, one-time intimation in lieu of annual 57F(2) permissions, and movement of certain supplementary billing and rejection verifications to self-assessment.

Revision of fees: customs rate updates now apply to central excise, requiring enforcement and notification to trade.
Existing policy mandates that revisions in customs supervision and overtime charge rates be applied to Central Excise with the same effective date; the Ministry directs that the recent customs rate changes be enforced mutatis mutandis on the Central Excise side and that trade and field formations be notified.

Classification of bamboo as timber clarifies applicability of Section 44AC, superseding earlier contrary Board guidance.
The Board clarifies that bamboo is to be treated within the category of timber and not as "any other forest produce" for the purposes of section 44AC, and withdraws its earlier contrary letter.

Voluntary payment of excise duty on captive consumption should be appropriated via assessment procedures rather than formal short-levy provisions.
Where companies voluntarily admit and pay duty on captively consumed drug intermediates, including time-barred amounts, the preferable course is to appropriate those payments by completing assessment under the self-removal procedure in Chapter VII-A of the Central Excise Rules, based on returns and such further enquiry as the Proper Officer deems necessary, with assessees completing required formal documentation; the formal short-levy route need not be invoked, though penalty notices may be issued if warranted.

Removal of waste and scrap outside factory must comply with rule for waste disposal, not input movement provisions.
Removal of waste or scrap arising from inputs on which Modvat credit has been taken must be allowed only under Rule 57F(4); Rule 57F(2) covers removal of inputs "as such" or after partial processing for purposes necessary to manufacture final products or return of intermediate products and does not authorise removal of waste or scrap. Permissions granted under Rule 57F(2) for removal of waste or scrap should be withdrawn and trade and field formations informed.

Joint surveys of small scale industrial complexes for coordinated revenue assessment require Assistant Collector authorization and reporting.
Joint surveys of industrial complexes housing small scale units are to be carried out jointly by the Central Excise Department and the Income Tax Department to enhance revenue accrual. Authorization for any such survey must be given by an officer not below the rank of Assistant Collector, and may cover all small scale factories in a specified industrial area. Field formations are to be informed and a report on results is to be submitted after three months.

Transfer of unutilised Modvat credit permitted only for inputs in stock, in process, or in final products; excess lapses.
Transfer of unutilised Modvat credit on merger/amalgamation applies factory-wise and is permissible where credit relates to inputs lying in stock, inputs in process, or inputs contained in final products at the time of transfer. Transfer is subject to prior non-availment under any other rule or notification and cannot exceed the balance shown in RG 23A, Part II; any excess credit beyond these categories lapses.

Export goods classification limits customs certification for deep sea catches exported directly from beyond territorial waters.
Customs cannot certify quantity and value of fish caught by deep sea vessels exported directly from beyond territorial waters because such catch does not qualify as export goods under the Customs Act; normal customs shipping bill procedures apply only when fish are first brought to an Indian port, and the concerned Ministries should devise their own certification mechanism for direct exports from vessels.