Block deals window permits large single trades within price and timing limits and requires same-day disclosure.
SEBI permits a designated early-morning trading window for block deals-single large transactions meeting prescribed minimum quantity or value-subject to a limited open period from market open, a capped price band relative to ruling/previous close, mandatory delivery settlement with no squaring off, and same-day post-market public disclosure of trade details; exchanges must apply normal trading, settlement, surveillance and risk containment measures, amend rules, notify members and report implementation to SEBI.

Central counterparty settlement required for exchange trades, with narrow exceptions and custodial-rejection rules permitting DVP.
Discontinuation of Hand Delivery Bargains/DVP is mandated: all exchange trades must be settled through the Clearing Corporation/Clearing House as central counterparty, effective September 19, 2005. Narrow exceptions are permitted for total exchange/STP connectivity failures, pre-decided international holidays, and calamity-driven centre closures. Custodial rejection of institutional trades may allow DVP settlement without margin if documented; otherwise exchanges may impose margins and penalties. Exchanges must amend bye-laws, notify members, publish the circular, and report implementation to SEBI.

Delay in disposal of seized vehicles mandates immediate inventory, upkeep and expedited adjudication followed by prompt disposal.
Directions require immediate inventory and upkeep of seized/confiscated vehicles, strict adherence to maintenance and custody protocols, and expedited adjudication and disposal. Adjudication should be finalised within short prescribed periods; redemption or re-export options must be time-limited with final notices before departmental disposal. Confiscated vehicles may be considered for limited Government use only with Board approval; otherwise they must be auctioned with removal of secret compartments and widest publicity. Prompt disposal under Section 110(1B) of the Customs Act is mandated to prevent deterioration and revenue loss.

Disposal of seized vehicles: directive to inventory, maintain, and promptly dispose assets under customs disposal rules.
Field formations must immediately inventory seized/confiscated vehicles and effect prompt disposal per Board instructions: ensure proper garaging and periodic engine running, limit departmental use of confiscated vehicles to exigencies with prior approval, delegate limited maintenance expenditure to Heads of Department, finalise adjudication within one month and enforce short redemption/re-export periods with a final notice before disposal, remove secret compartments before sale, and where not retained for official use dispose by widely publicised auction to secure best price; report difficulties to the Board.

Advance licence extension now requires composition fee for further extensions and mandates input specification declarations.
Amendments replace Paragraph 4.27 first sub paragraph to govern Advance Licences issued up to 31.8.2004 by earlier handbook chapters except clubbing and extension governed by Paragraphs 4.20 and 4.22.1; replace Paragraph 4.22.1 third sub paragraph to allow any further extension only on payment of a composition fee calculated as a monthly percentage of the duty saved amount proportionate to the remaining export obligation; add requirement in Paragraph 4.24A(b) for exporters to declare technical characteristics, quality and specifications for specified inputs with licensing authority to record those details; and add Tuticorin to ICD lists in Paragraphs 4.19 and 4.40.

Appendix-5 amendment adds a new listed entity to the trade directory, updating official contact details under trade policy.
Amendment adds a new entry to Appendix-5 of the Handbook of Procedures (Vol. I) under powers conferred by paragraph 2.4 of the Foreign Trade Policy, inserting a specified commercial entity with its telephone, telefax, mobile and e-mail contact details into the official Appendix-5 directory; the change is administrative, effected by public notice to update the Handbook's listings.

Appendix 37A additions expand eligible agricultural and botanical items; export negative list products excluded from scheme benefits.
Public Notice adds an extensive Annexure of agricultural, botanical, oilseed and oilcake items to Appendix-37A of the Handbook of Procedures (Vol. I) under Paragraph 2.4 of the Foreign Trade Policy. It expressly inserts a footnote that any item on the export negative list under ITC (HS) classifications, whether restricted or prohibited, shall not be eligible for benefits under the Vishesh Krishi Upaj Yojana, thereby excluding such items from scheme benefits.

Classification revision: CPU cooler fans with heat sinks reclassified to machinery heading, altering customs treatment and pending assessments.
The Board accepts the tribunal's view that CPU cooler fans fitted with heat sinks possess characteristics of more complex machines and revises their classification from the fan tariff to the machinery sub heading, withdraws the earlier circular, and directs field formations to finalise pending assessments accordingly.

Special Economic Zone jurisdiction updated: KASEZ Development Commissioner assigned Kutch district, Kandla and Surat SEZs.
Amendment revises Appendix-1 entry at Sl. No. 35 to designate the Development Commissioner at Kandla SEZ, Gandhidham, as the licensing authority under Paragraph 2.4 of the Foreign Trade Policy. Territorial jurisdiction covers: (1) Kutch district of Gujarat; (2) units in Kandla and Surat SEZs; and (3) approved EOU/SEZs located in Gujarat, with office contact details provided for administrative implementation.

DTA sale entitlement conditioned on cumulative positive NFE; advance DTA sales limited to expansion or new production streams.
High grade iron ore exports are canalized through the nominated trading agency and require export approval; segregation activities are not treated as manufacture from 1.4.2002 but pre existing units may continue for five years with input exemptions while being barred from DTA sale. Failure to attain positive Net Foreign Exchange within the specified five year assessment period may attract a cautionary letter. Advance DTA sale permissions must be adjusted before permitting DTA sale; advance DTA sales are limited to capacity expansion or new production streams linked to exports, and DTA entitlement accrues only upon cumulative positive NFE.

Eligibility for Vishesh Krishi Upaj Yojana: EOUs qualify for benefits on specified exports and must apply to jurisdictional licensing authority.
EOUs are eligible for Vishesh Krishi Upaj Yojana benefits for physical exports of items appearing in Appendix 37A on the same basis as DTA units; EOUs must file consolidated applications for duty credit entitlement certificates with the Regional Licensing Authority having territorial jurisdiction as prescribed in Appendix 1 of the Handbook of Procedures.

Withdrawal of trade notices on SCOMET items; traders must follow the revised ANF procedure set out in the public notice.
Two earlier Trade Notices on SCOMET items are withdrawn and trade is directed to follow the procedure set out in Para 5A of Part 4 of the Aayaat Niryaat Form as incorporated by Public Notice No.36 (RE-2005)/2004-2009.

Conversion of non-repatriable equity permitted under automatic route where original investment was in foreign exchange and sector allows.
Conversion of non-repatriable equity into repatriable equity is permitted under the automatic route where the original NRI investment was made in foreign exchange under the FDI Scheme and the sector in which conversion is proposed is on the automatic route for FDI.

Casual trader registration: enforcement of detection, authorized bank payment and mandatory return filing under DVAT rules.
Ward VAT officers must proactively detect exhibitions and unregistered casual traders via newspapers and market intelligence, secure prompt casual registration and processing, and ensure ward inspectors liaise with venue managers to monitor events. With field cash collection disallowed, issuing officers must direct casual traders to authorized banks for payment and provide challan guidance for attachment to statutory returns. Zonal and deputy commissioners must monitor enforcement activities and submit monthly reports of registrations, returns and tax collections for operational compilation.

Import licensing for rough marble blocks and slabs now requires eligible manufacturers, floor pricing and yearly entitlement allocation.
Imports of rough marble blocks and slabs under specified EXIM codes are subject to restricted licensing by the EXIM Facilitation Committee, limited to manufacturers/processors with prior import experience. Applicants must submit the prescribed Aayaat Niryaat Form via CAPEXIL with turnover certification and a Chartered Accountant turnover certificate. Licences will carry a floor price, aggregate annual imports are subject to a ceiling with individual entitlements based on prior-year turnover, applications close on 1 October, licences bear an actual user condition, and monthly import returns must be filed with the Regional Licensing Authority.

Transfer of shares and convertible instruments: AD banks may process automatic-route and buy-back transfers under prescribed conditions.
Authorised Dealer banks may process transfers of shares and convertible debentures between residents and non-residents under the powers delegated by A. P. (DIR Series) Circular No.16, including transfers in companies moved from FIPB/SIA to the Automatic Route (excluding financial service companies), and transfers by non-residents to an Indian company under buy-back or capital reduction, subject to the Annex requirements and other applicable statutory permissions.

Fringe Benefit Tax introduced; employers liable on specified benefits with presumptive valuation and quarterly advance payments.
Fringe Benefit Tax is an employer levy on the aggregate value of fringe benefits provided or deemed provided to employees, determined by actual amounts for superannuation and ticket costs and by specified percentages of enumerated expense heads under a presumptive valuation method; taxable employers include companies, firms, AOPs, local authorities and other juridical persons, with procedural obligations for quarterly advance payments, filing of a return, assessment, reassessment and application of general tax procedures.

Applicant declaration of responsibility required for DFCE and Target Plus applications ensuring authenticity and compliance.
Applications for DFCE and Target Plus must include a declaration undertaking responsibility for any incorrect documents or statements after issuance of the entitlement certificate, agreeing to comply with issuing authority directions and to restore unintended benefits. Applicants must confirm that shipping bills and bank realisation certificate details are genuine and that their status certificate and star classification are valid and not suspended or cancelled. This declaration is supplementary to other declarations required in the application appendix.

Overseas direct investment in Bhutan allowed in freely convertible currencies; proceeds must be repatriated in freely convertible currencies.
Overseas direct investment in Bhutan is permitted in freely convertible currencies in addition to Indian Rupees, and all dues and sale or winding-up proceeds from such investments must be repatriated to India in freely convertible currencies; direct investments in Nepal remain permissible only in Indian Rupees. The change is effected by an amendment to the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, and Authorised Dealer banks are required to inform their constituents; the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act without prejudice to other statutory permissions.

Revised Simplified Scheme for brand-rate fixation: provisional brand-rate letters issued to eligible exporters, subject to post-facto verification.
Fixation of brand rates operates under the Normal Scheme with pre-verification by field formations and the Revised Simplified Scheme permitting provisional brand rate letters without pre-verification for specified exporter categories, subject to applicant certification and subsequent post-facto Departmental verification with power to revise, revoke and debar for misuse.