Dematerialisation requirement enables shifting securities from Trade-for-Trade to rolling settlement when non-promoter holdings are dematerialised.
Where a listed company has connectivity with both depositories, exchanges may shift its securities from Trade-for-Trade to rolling settlement if at least 50% of non-promoter holdings are dematerialised and certified by the RTA (or by a practising company secretary/chartered accountant if no RTA exists), and provided there are no other grounds to continue TFTS; exchanges must report such action in the Monthly/Quarterly Development Report (Section II, item no. 13).

Registration-cum-membership certificates may be issued from alternate export promotion offices for multi-product exporters in North Eastern States.
An amendment permits multi product exporters with head or registered offices in the North Eastern States to obtain the Registration Cum Membership Certificate (RCMC) from designated regional export promotion offices, while excluding products overseen by commodity specific export boards; the change is made under paragraph 2.4 of the Foreign Trade Policy, 2004-09 and is expressed to be in public interest.

Amendment to Standard Input Output Norms: revised import entitlement rules for specified engineering exports under foreign trade policy.
Amendment to the Handbook of Procedures substitutes and corrects multiple SION entries to set revised quantitative import entitlements per export unit for specified engineering products. Each substituted norm lists the export product unit, permitted import items and exact allowed quantities or content ratios, and where applicable provides alternative raw material options and weight or percentage based input calculations to be applied in assessing import entitlement.

Export allocation of white sugar to EU requires designated agency with EUR and GSP certifications endorsed by customs and EIA/DGFT.
Allocation of 10,000 MT of white sugar for export to the EU is authorised under HS Code 17010000 with M/s Indian Sugar Exim Corporation Ltd designated as the export agency; EUR and GSP entries must reference Regulation (EC) No. 950/2006 (ACP/India Sugar, Serial No. 09.4337), the EUR form is to be endorsed by Customs at shipment and the GSP certificate by the Export Inspection Agency or the Directorate General of Foreign Trade.

Raw sugar export allocation to EU establishes designated agency and certification requirements for shipment and GSP endorsement.
Allocation of 10,309 metric tonnes of raw sugar from the 2007-08 free sale portion is authorised for export to the EU under HS classification 17010000, with a designated export agency appointed for exports under the preferential quota. Required documentary controls specify EUR entries endorsed by Customs at shipment and GSP certification issued/endorsed by the Export Inspection Agency or the Directorate General of Foreign Trade under the Complementary Sugar regulation.

EEFC account liberalisation allows exporters to earn interest on balances up to a specified capped limit, temporarily easing foreign currency management.
Exporters are permitted to earn interest on Exchange Earner's Foreign Currency (EEFC) accounts up to a specified capped outstanding balance for a temporary period. Account holders may convert balances into term deposits of up to one year maturing on or before the expiry date; interest rates are to be fixed by banks. Amendments to the governing FEMA regulations will be issued, and Authorised Dealer Category I banks must inform their constituents. The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act and do not affect other statutory permissions.

Education Cess accounting: new minor heads opened and balances moved from Receipt Awaiting Transfer, with notifications to assessees.
A new minor head for Secondary and Higher Education Cess has been opened under the Major Heads for Customs, Union Excise Duty and Service Tax with specified accounting and serial codes; amounts held under "Receipt Awaiting Transfer" are to be transferred to this head and Commissioners must be notified to issue Trade Notices. The existing minor head "Education Cess" is renamed Primary Education Cess with its accounting codes unchanged; the "Other Receipts" sub head covers interest and penalties on delayed Service Tax.

Education Cess accounting: new minor heads and transfer procedures required; notify commissioners and issue trade notice.
Instruction mandates accounting for Secondary and Higher Education Cess and renamed Primary Education Cess under newly opened Minor Heads with specified numeric and serial codes; amounts held under "Receipt Awaiting Transfer" must be transferred to these new Heads. Commissioners must be informed of eight digit serial codes and advised to issue Trade Notices to assessees; Service Tax ''Other Receipts'' covers interest/penalty on delayed payments.

Accounting of Education Cess: new minor head codes established and RAT balances directed to be transferred and notified.
New Minor Head 505 for Secondary and Higher Education Cess is opened under the Major Heads for Customs, Union Excise Duty and Service Tax with specified numeric, serial and SCCD codes; amounts held under Receipt Awaiting Transfer (RAT) should be transferred to the new Minor Head and Commissioners must be informed to issue Trade Notices. The existing Minor Head 504 is re named Primary Education Cess but retains its accounting codes; corresponding sub heads include Tax Collection, Other Receipts (interest/penalty) and Deduct Refunds.

Export obligation timelines for spice imports clarified: expedited compliance for pepper, cardamom and chillies and defined period for other spices.
Amendment to paragraph 4.22 clarifies timelines for fulfilment of export obligation on imported spices: imports for value addition (crushing, grinding, sterilisation) or manufacture of oils and oleoresins of pepper, cardamom and chillies must satisfy EO within a short period from importation of the first consignment; imports of other spices for manufacture of spice oils and oleoresins under advance authorisation must satisfy EO within a defined period from issuance of the advance authorisation.

Permission to take intermediate products abroad for job work allowed with specified item description, quantity and item codes.
The Handbook of Procedures (Vol. I) is amended to permit taking intermediate products out for job work abroad as part of the production process. Appendix 14-I-A adds clause V-A and Appendix 14-I-E is revised to require listing Item(s) description, Quantity and Item code (ITC/HS code) for such intermediate products, with a note that these entries are not required for service units.

E-payment of customs duties: electronic challan payment via ICEGATE and designated bank enabling automatic customs processing.
An E-Payment facility for customs duties at ICD-Sabarmati and Air Cargo Complex, Ahmedabad is introduced via the ICEGATE CEG and Bank of Baroda. Registered ICEGATE users or unregistered users (by IE Code) select unpaid challans, choose the designated bank, complete internet banking authentication and payment at the bank site, obtain a cyber receipt, and return to ICEGATE to complete the transaction. The bank transmits payment particulars electronically to ICES enabling Bills of Entry to move to the examination queue without physical proof; a VERIFY option is available on the date of payment to resolve incomplete transactions.

Conclusion of adjudication: voluntary payment of service tax with interest and penalty terminates Finance Act proceedings against the payer.
Payment of service tax with interest and the prescribed penalty by a person issued a show cause notice leads to conclusion of the entire adjudication proceedings under the Finance Act in respect of that person; where notices are served on other persons under the subsection, proceedings in respect of those other persons are also deemed concluded. The same payment-based conclusion principle applies to the parallel subsection for other cases.

Focus Product Scheme eligibility extended to specified handmade durries and carpets, subject to exporter declaration of hand made status.
Amendment to Appendix 37D clarifies that Focus Product Code 38 covers specified ITC (HS) codes for cotton, man made fibre and wool durries; other textile floor coverings; jute and coir carpets; and carpeting, rugs, mats and mattings, and confines benefits to hand made products with a required exporter declaration, applying to FTP(RE2006) and FTP(RE2007) and making scheme benefits available from the FTP applicability date onward.

Duty free import of fuel permitted under SION or general note conditions; applicant must specify fuel, FOB restriction not applied.
Duty free fuel imports under Advance Authorisation are allowed either according to the description and quantity specified in the relevant SION or, where fuel is not listed in a SION, under the General Note for Fuel percentage conditions in the FTP/HBP; applicants must state the specific fuel sought. The FOB value restriction in the General Note for Fuel does not apply to imports authorised under a SION unless the SION expressly includes that restriction.

Liquidator notification requirement: failure to notify can create personal liability for company tax and penalties, ensure compliance.
Section 53 obliges a liquidator or receiver to notify the Commissioner of appointment within one month; the Commissioner must, after inquiry, notify within three months the amount sufficient to cover tax, interest or penalty payable by the company; failure by the liquidator to give notice exposes him personally to liability for tax and penalty if those sums are later notified under the Commissioner's determination. Assessing Authorities are directed to ensure compliance with these requirements for companies in liquidation.

Exemption from special additional duty affirmed for imports under retrospectively issued DEPB licences, with no debit to the DEPB scrip.
DEPB licences issued after judicial recognition of retrospective eligibility for ICD Guntur attract the intervening notification-based exemption from special additional duty; accordingly, the special additional duty need not be debited from the DEPB scrip and exemption should be allowed for imports covered by those licences, with appropriate public notice and internal guidance issued for implementation.

Cenvat credit utilization: specified input services may be used fully for taxable services without the general utilization cap.
Cenvat credit on the seventeen specified input services may be utilized without application of the 20% utilization restriction when those services are used for providing taxable services. These services cannot be apportioned to individual services and are treated like capital goods; credit is not available where they are used exclusively for exempted services, but where credit is taken it may be used in full for payment of service tax on taxable services.

Foreign trade procedure amendment adds 'Honey' to permitted items under Handbook of Procedures, expanding the commodity list.
Amendment to the Handbook of Procedures under the Foreign Trade Policy 2004-2009 adds Honey as item vi in Paragraph 4.7 by Public Notice No. 57/2007, issued under powers conferred by Paragraph 2.4 of the Policy; the notice effects an administrative amendment to the Handbook and is issued in the public interest.

Time limits for DEPB applications clarified; filing windows and notification duties defined for export credit claims.
Claims under DEPB must be filed within twelve months from export or EDI shipping bill uplink, or within six months from realisation, or within three months from printing/release of the shipping bill, whichever is later. The Norms Committee must ensure any adhoc norms not already notified are published within six months of ratification.