Import clearance of metal scrap: shredded allowed without pre shipment certificate; un shredded subject to DGFT guidelines and risk checks.
Import of metal scrap distinguishes shredded and un shredded consignments: shredded scrap is permitted entry at all ports without pre shipment certificate; un shredded, compressed or loose scrap is admissible only under DGFT guidelines and must be cleared through EDI enabled ports with selection by the Risk Management System for documentary or physical checks, with scanning based on risk assessment where facilities exist, and possible removal of sealed containers to the importer's factory under re warehousing at the importer's risk and cost.

Automated permission for IGM approval: boarding section authorised to approve IGM numbers when SMTP errors cause transmission failure.
Automated permission is authorised so that when SMTPs fail to generate through ICEGATE, the approval of the IGM Number in the system will be done by the Boarding Section as well as the Import Noting section, enabling SMTPs to be automated and transmitted to shipping lines, terminals and ICD customs to avoid hold-up of imported cargo.

Extension of filing deadline for VAT returns; returns filing extended while tax payment obligations remain unchanged.
The due date for filing second quarter online or hard copy VAT returns for 2016 17 in Forms DVAT 16, DVAT 17 and DVAT 48, with annexures, is extended to 28/11/2016 under Rule 49A, while tax payment obligations remain unchanged and dealers filing with digital signature are exempted from submitting a hard copy of Form DVAT 56.

Pre-shipment inspection certificate requirement restored for shredded metallic scrap imports, and trade to be notified for compliance.
The Circular reiterates that imports of shredded metallic scrap (ferrous and non ferrous) must be cleared only upon furnishing a pre-shipment inspection certificate from designated inspection and certification agencies; it modifies the earlier circular's paragraph to restore this documentary requirement and directs customs formations to notify trade accordingly.

Authorised officers for imported food clearance; accredited laboratories to be used for statutory food sample analysis.
Customs personnel at designated houses are authorised officers under the food safety statute for purposes of imported food clearance. Trade and officers must use laboratories listed in the accreditation notification for analysis of food samples, tying authorised officer designations to accredited laboratory use and notifying trade associations, customs brokers and the public of the procedural direction.

Insider trading safeguards require pre-clearance, trading-plan exemptions, and strict compliance officer monitoring of employee dealings.
SEBI consolidates and updates guidelines requiring pre-clearance by the Compliance Officer for covered secondary market transactions by access persons, seven-trading-day validity for approvals, and a cooling-off mechanism where the Mutual Fund has transacted in the same security, with an exemption for publicly disclosed trading plans compliant with SEBI (PIT) Regulations, 2015. The Compliance Officer must monitor scheme and employee trades, and employees are prohibited from carry-forward purchases, short sales, front running and self-dealing; periodic transaction disclosures and annual holdings statements to the Compliance Officer are mandated.

PAN verification online permitted for FPIs; physical PAN copy required within sixty days or before outward remittance.
Intermediaries may verify an FPI's PAN online from an Income Tax authorised website at account opening; however, FPIs must provide a copy of the PAN card to their intermediaries within sixty days of account opening or before remitting funds out of India, whichever is earlier. The circular directs DDPs, custodians, depositories, exchanges and KRAs to implement and notify their FPI clients.

FPI corporate debt investment expanded to include unlisted bonds and securitised instruments subject to maturity and end use limits.
FPIs may invest in unlisted non convertible corporate debentures/bonds subject to a minimum three year residual maturity and end use restrictions prohibiting real estate business, capital market activities and land purchase, with custodians ensuring compliance. FPIs may also invest in securitised debt instruments issued by SPVs (originated by banks, FIs or NBFCs) or listed under securitised debt listing regulations; securitised instruments are not subject to the three year maturity requirement. These investments are subject to an aggregate cap within existing corporate bond limits and existing FPI debt market conditions remain applicable.

Foreign exchange insurance rules allow IRDAI permitted policies, set premium and claim currency rules, and govern reinsurance and overseas funds.
The 2015 Regulations permit IRDAI authorised general/health insurance policies to be placed in foreign exchange without RBI permission and establish currency specific rules for premium payment and claim settlement tied to the payer's and beneficiary's residency and currency of premium. They prescribe documentary and procedural conditions for foreign currency remittances for claims, govern reinsurance arrangements and premium remittances subject to insurer board approvals and IRDAI guidelines, allow insurers to maintain limited foreign currency accounts abroad, and permit insurers' investments abroad and specified utilisation of overseas funds in accordance with host country and IRDAI requirements.

Container Freight Station procedures: permit, seal and register rules govern movement, custody and supervised stuffing of import/export containers.
Procedural framework for the CONCOR Container Freight Station at Vallarpadam prescribes authorization to handle FCL and LCL import/export cargo, mandatory bond and bank guarantee verification, and detailed requirements for transshipment/ movement permits with Space Availability Certificates. Gate officers must verify container and seal numbers and endorse out-times; containers must meet prescribed transit windows, seal tampering must be recorded and reported, and Customs bottle seals applied when required. The CFS operator must maintain comprehensive registers and weekly statements, supervise supervised destuffing and stuffing under Customs officers, ensure segregation of detained/hazardous cargo, and permit removal of goods only after Customs out of charge.

Simultaneous issuance of dual export incentives: option to return either benefit under Public Notice resolves pending cases.
Concurrent grant of zero duty EPCG and SHIS under FTP 2009-14 was found improper; an inter-departmental review led to a Public Notice establishing a remedial framework allowing resolution of simultaneous availing of both incentives. Pending matters are to be decided in terms of that Public Notice, and related bars in Customs notifications applicable to FTP 2015-20 have been removed by amendment. Stakeholders may report difficulties to Customs.

Re-export provisions allow re-credit of duty via customs-issued certificate subject to conditions and limited re-credit use.
Customs may permit re-export of goods imported under reward schemes and DEPB for defective goods or any other reason, and shall issue a customs re-credit certificate instead of a fresh DGFT scrip. Conditions: re-export from same port within six months of import; identity of goods verified; goods not used post-import; re-credit certificate to state scrip particulars, import date and debited duty; limited portion of re-credit amount permitted for use; certificate valid six months; remittances to be properly accounted.

Risk-based selectivity for customs clearance directs PGA referrals and targeted inspections through a single electronic window.
Under the integrated declaration framework, consignments are automatically routed to Participating Government Agencies (PGAs) for necessary permissions without separate approaches by importers or exporters. A risk-based selectivity mechanism in the Risk Management System (RMS), using PGA-defined risk criteria and delegated authority, generates instructions for documentary checks, inspections/examinations and sample drawal that appear on customs officers' screens, enabling simultaneous processing by Customs and PGAs to reduce dwell time and transaction costs.

RMS selection governs examination orders; officers must seek supervisory authorization before overriding no-examination flags.
RMS instructions govern whether a Bill of Entry requires physical examination; Assessing Officers must not override RMS-facilitated no-examination flags except for specific reasons and only after obtaining an examination order from the Addl./Joint Commissioner. Officers must also refrain from issuing examination orders solely to secure PGA NOCs when RMS provides for waiver, and must follow EDI-system flags and report difficulties to the Commissioner.

Bond and BG registration for export transhipment now required to be recorded at CMFC Section in ICES.
A corrigendum amends the registration location for export securities in the Export Transhipment Module: the Bond and Bank Guarantee for export must be registered at the CMFC Section in ICES, replacing the earlier reference to the Enquiry Section.

Deferred payment of customs duty for AEO importers requires ICEGATE nodal authentication and Bill of Entry flagging.
Deferred payment of customs duty is permitted for AEO (Tier-Two) and AEO (Tier-Three) importers who obtain ICEGATE login and nominate a nodal person to authenticate transactions via OTP; eligible importers must intimate the Principal Commissioner/Commissioner of Customs (or AEO Programme Manager with copy) and mark flag "D" in the Bill of Entry for deferred payment. Clearance under deferred payment requires nodal authentication. Due dates follow the Deferred Payment Rules, importers may pay selected challans anytime before the due date, and port-wise reports are available in ICES for monitoring.

Product description amendments align MEIS schedules with ITC(HS), correcting tariff line descriptions, effective retrospectively to original inclusion dates.
Amendments correct product descriptions in MEIS Schedule Table 2 of Appendix 3B by replacing inaccurate descriptions for specified ITC(HS) tariff lines with wording aligned to ITC(HS); the corrected descriptions are operative for the listed tariff lines and are declared applicable from the original dates when those products were included in the MEIS Schedule.

Transit goods movement procedures extended to Visakhapatnam-ICD Birgunj route, with one-time-lock, permit and bond safeguards enforced.
The notice applies the Rail Services Agreement to the Visakhapatnam-ICD Birgunj route, prescribing that carriers and shipping agents present ICCD/ECCD in quadruplicate, obtain Transshipment Permits, and furnish bonds or bank guarantees securing duties. Indian Customs will affix an additional one-time-lock whose serial number is recorded on transit declarations; intact seals permit onward movement without examination, while broken seals trigger verification, resealing and endorsement procedures. Carrier and shipping agent bonds may be enforced if endorsed TPs or export evidence are not produced within prescribed timelines.

SEZ approvals and LoP extensions reaffirm conditional co developer authorisations and transfer controls under SEZ regulatory framework.
The Board extended and approved multiple formal approvals and LoPs, authorised co developer approvals subject to SEZ Act and Rules and lease period limits, approved several sector specific SEZ proposals while withdrawing or deferring others for lack of state recommendation or pending review, and required certification or refunding of tax/duty benefits where area reductions or cancellations occurred. Transfers of LoAs and changes in ownership were allowed subject to continuity, eligibility, financial disclosure and tax assessment conditions. Appeals regarding O&M power benefits were rejected in light of departmental demarcation of power plants as non processing area and applicable power guidelines.

Filing deadline extension for VAT returns: second-quarter filings extended, tax remains payable, digital signatures waive hard-copy requirement.
Extension of the deadline for filing second-quarter VAT returns for 2016-17 is granted under Rule 49A, requiring submission of online or hard-copy returns in Forms DVAT-16, DVAT-17 and DVAT-48 with requisite annexures by 21/11/2016. Tax payment obligations remain unchanged and must be discharged as usual. Dealers filing returns with a digital signature need not submit the hard copy of the return/Form DVAT-56.