Accounting codes for new taxable services set; designated heads and sub heads govern tax collection, interest and refund accounting.
Three newly taxable services-cosmetic or plastic surgery, transport of coastal/national waterway/inland water goods, and legal consultancy-have been assigned specific heads under Major Head 0044 Service Tax, each with subheads for Tax Collection, Other Receipt (interest/penalty) and Deduct Refunds (for departmental refunds). The notice prescribes the exact account codes and directs replacement of prior dummy codes.

Diamond Dollar Account eligibility relaxed, permitting firms with reduced track record and lower turnover to open and maintain accounts.
The Government amended Paragraph 4A.19 of the Foreign Trade Policy to relax eligibility for Diamond Dollar Accounts, reducing the required track record and lowering the average annual turnover threshold for firms and companies dealing in diamonds, coloured gemstones and specified jewellery. AD Category I banks are instructed to apply the revised eligibility criteria when opening and maintaining DDAs, while other terms and conditions remain unchanged and banks must remain guided by the Foreign Trade Policy in force.

Marketable waste treated as excisable, making bagasse and metal dross liable to excise duty and Cenvat reversal obligations.
The statutory amendment expanded excisable goods to include articles, materials or substances arising during manufacture that are capable of being bought and sold; accordingly marketable waste such as bagasse and aluminium/zinc dross are excisable and liable to duty recovery for the post amendment period. Where such products are nil rated or exempt and Cenvat credit has been taken on inputs used for both dutiable and exempt production, the assessee must reverse proportionate credit or pay the alternate prescribed amount. Pre amendment cases remain pending departmental appeal.

Dematerialisation requirement enables shifting from Trade for Trade to rolling settlement and reporting obligation applies.
Establishment of connectivity with both depositories allows shifting securities from Trade for Trade Settlement to normal Rolling Settlement provided at least 50% of other than promoter holdings are in dematerialized form, evidenced by a certificate from the Registrar and Transfer Agent or, if no RTA exists, from a practicing company secretary or chartered accountant; exchanges must also ensure no other grounds for continuation of Trade for Trade exist and must report actions taken in their Monthly/Quarterly Development Report to the regulator.

Value addition requirement limits enhancement of advance authorisations by imposing minimum value add conditions on later exports.
For advance authorisations issued prior to 27.08.2009, enhancement of CIF/FOB value is conditioned on minimum value addition thresholds: where exports occur after 27.08.2009, a minimum value addition of 15% applies to that export component; where exports occurred prior to 27.08.2009, enhancement is subject to a minimum value addition of 15% or the value addition declared in the original application, whichever is lower.

Reduction of Export Obligation: EPCG holders receive proportional relief where sector exports declined, and RAs must re-fix obligations.
Implements relief under Para 5.11.2 of the Handbook of Procedure (2009-14) allowing EPCG Authorization holders in sectors/product groups with a measured export decline in 2008-09 to receive proportional reduction in their Annual Average Export Obligation for 2008-09; a list of affected product groups with percentage declines is enclosed and Regional Authorities are directed to re-fix obligations accordingly.

Trading hours flexibility allowed for stock exchanges, subject to risk management and infrastructural safeguards under securities law.
Permits stock exchanges to set trading hours in cash and derivatives provided trading occurs within the 9 AM to 5 PM window and the Exchange maintains risk management systems and infrastructure commensurate with those trading hours; issued under the regulator's statutory powers to protect investors and regulate the securities market.

Freezing of assets under UAPA requires exchanges and intermediaries to screen, report and block designated persons' accounts promptly.
Directs stock exchanges, depositories and registered intermediaries to maintain electronic designated person lists, perform regular screening of new and existing customers, and report any matches within 24 hours with full particulars of funds, financial assets or related services to the Joint Secretary (IS.I), Ministry of Home Affairs, SEBI's UAPA nodal officer, the state/UT nodal officer and FIU IND; intermediaries must also file Suspicious Transaction Reports for covered accounts and prevent designated persons from transacting once matches are confirmed.

Rescission of government notification preserves prior acts and omissions while withdrawing the notification prospectively.
The Central Government rescinds a specified prior notification, withdrawing it prospectively but expressly preserving the validity of anything done or omitted before the rescission; the exercise of rescission is taken under the executive's statutory authority and references the original Gazette publication of the principal notification.

Import licence quota allocation for rough marble blocks - applications invited with specified eligibility and documentation; allocations prorated.
Applications are invited for import licences for rough marble blocks/slabs for the balance of 2009-10 with the balance quota fixed at 1.6 lakh MT. Applicants must file the Aayaat Niryaat Form with prescribed CA-certified documents: gang saw certification in the unit's name (not leased); SSI/SIA registration showing operation prior to 31.3.2004; CA-certified balance sheet evidence of equipment pre-31.3.2004; 2003-04 income tax return indicating processing; CA certificates of indigenous sales turnover for 2004-05 through 2008-09; and CA-certified statements filed with income tax authorities to prove the required turnover. Applications are due by 2.11.2009 to the concerned Regional Authority; allocations will be computed on the full-year quota and prorated for the balance year.

Line of Credit enables financing of eligible Indian exports to Eritrea, with Indian-sourcing requirement, timelines, and FEMA directions.
Notification of an Exim Bank line of credit to the State of Eritrea for financing eligible goods, services, machinery and consultancy from India for agricultural and educational projects. The facility requires most of contract value to be supplied from India with limited outside procurement permitted for non consultancy items. Prescribed timelines apply for opening letters of credit and disbursement; shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances for commission remittance, subject to AD Category I bank compliance and prevailing instructions. The directions are issued under FEMA powers.

Import of diamonds for certification and grading subject to bond, detailed entry, control numbering, certification and time-limited re-export.
Import for certification and grading of diamonds is permitted only to authorised GIA offices subject to a general bond at the port, detailed bill of entry endorsed "only for certification and grading", assignment of a unique control number and separate accounting. Re-export must be effected under a shipping bill with cross reference to the bill of entry and accompanied by a GIA certificate confirming identity. GR waiver and RBI compliance for foreign exchange realisation are required, customs may carry out surprise audits, re export must occur within the prescribed period, quarterly statements must be filed, and re export is allowed only from the port of import.

Deemed income under Section 9 clarified: prior circulars withdrawn and taxpayer interpretations granting unintended relief curtailed by authorities.
The Central Board of Direct Taxes withdraws Circular No. 23 (23 July 1969) with immediate effect, and also withdraws Circulars No. 163 and No. 786 which provided clarifications to it, observing that some taxpayers' interpretations sought relief inconsistent with the governing statutory rule on income deemed to accrue or arise in India; the withdrawal is without prejudice to the Department's arguments that the circulars did not apply in particular cases or could not be interpreted to allow relief contrary to statute or intent.

Drawback Disbursement: Banks must return un disbursed amounts to Customs; exporters must provide accurate bank details.
Requirement for prompt handling of un-disbursed amounts of All Industry Rate drawback claims where credits to exporters' bank accounts fail; the Nodal Bank must return such un-disbursed sums scroll-wise to Customs with a reconciliation statement and exporter-wise reasons for non-disbursement, and exporters are requested to furnish correct bank account details to ensure timely clearance.

Classification of quilts and quilted bedspreads as articles of bedding excludes them from textile-material tariff benefits under tariff law.
Finished quilts and quilted bedspreads are articles of bedding and not textile inputs; the textile-material heading excludes made-up goods, so finished quilts and bedspreads are classifiable under the heading for articles of bedding and therefore are not eligible for the benefits of Notification No 30/2004.

Jobwork valuation: excise duty payable based on transaction value from the principal's sale location under Rule 10A, not cost-based charges.
When goods manufactured by a job-worker for a principal are transferred to a depot, sales office or distributor and later sold by the principal, the assessable value for excise duty is the transaction value at which the principal sells those goods from that place, subject to the rule's conditions; discharging duty on a cost-construction basis by the job-worker is not correct.

No Objection Certificate requirement for specified drug and medical exports now mandated from the CDSCO office at Bangalore airport.
The CDSCO Bangalore Sub Zone office at Bangalore Air India SATS Air Freight Terminal is established effective 21 October 2009 with Sri S. Manivannan as Drugs Inspector; exporters of bulk drugs, formulations, reagents and kits, cosmetics, medical devices, and Ayurvedic and Homeopathic drugs exported through Bengaluru International Airport must obtain a NO OBJECTION CERTIFICATE from that office prior to export clearance.

Clearing and settlement through clearing corporations required for specified corporate bond trades, altering bilateral settlements and mandating exchange amendments.
Trades in corporate bonds between specified entities must be cleared and settled through NSCCL or ICCL; this applies to OTC and debt-segment exchange transactions subject to the exclusion of capital/equity-segment trades settled through exchange clearing houses. The bilateral clearing provision in earlier guidance is modified, other prior terms remain, and NSCCL/ICCL will specify applicable norms. Exchanges must amend rules and facilitate implementation while specified entities prepare for operationalisation.

Jurisdiction for appeal allocations define zone-based responsibilities for appeals, objections and revisions among departmental officers.
Allocation of departmental jurisdiction assigns objection hearings, appeals and revisions by pecuniary limits and zone to three officers: Sh. Sudhir Kumar (objections above specified limits for multiple zones; CFC; Planning; Forms Branch; Special Zone; FM caretaking); Sh. Rakesh Bhatnagar (appeals and revisions within defined pecuniary bands under DST and CST for Zone X and Zone IX; objections for Zones IV, V, VI; CFC; CRC); and Sh. K.K. Dahiya (administration for Zone III; appeals, revisions and objections for Special Zone, Enforcement and specified wards/zones).

Registration requirement for coconut product exporters - must obtain RCMC before export, excluding husk and fiber.
Exporters of coconut and coconut-based products must obtain a Registration cum Membership Certificate (RCMC) from the Coconut Development Board before export, excluding products made from coconut husk and fiber. The Coconut Development Board is the Export Promotion Council with jurisdiction over the listed ITC (HS) codes in the annexure; the notice addresses instances of exports without RCMC and instructs exporters, Custom House Agents and trade members to secure RCMC prior to export.