Application checklist under FTP schemes ensures due diligence and complete submissions to prevent processing delays.
Checklists require exporters submitting applications under FTP 2009-14 for schemes in Chapters 3, 4, 5 and 8 to follow specified documentation and procedural requirements; applicants must use the Mumbai-issued checklists when filing with RA, Pune and this office to ensure due diligence, completeness at submission, avoidance of deficiency communications, and adherence to prescribed processing timelines.

Income-tax deduction from salaries: employers must deduct TDS on estimated salary (including perquisites), report and remit per rules.
For FY 2012-13 employers must deduct TDS under section 192 on estimated salary income (including perquisites) at prescribed slab rates by age, add education cesses, and may opt to pay tax on non-monetary perquisites themselves using the average rate method. Employers must value and report perquisites (Form 12BA/Form 16), obtain and quote PAN/TAN (non furnishing triggers section 206AA higher rates), deposit TDS within prescribed timelines (including book entry 24G/BIN procedures), file quarterly Form 24Q electronically, and face specified interest, fees, penalties and prosecution for failures.

All Industry Rates of Duty Drawback updated; exporters must follow new rates, caps, composite-rate rules and service-tax adjustment.
Notification of the All Industry Rates (AIR) of Duty Drawback 2012-13 takes effect 10 October 2012 and revises drawback rates using inputs such as input prices, input-output norms, import shares, FOB export values, excise and customs duties, service-tax incidence on input services, and fuel duty. The Schedule adjusts rates and tariff entries-raising many AIRs, reducing some (including DEPB-derived entries), reworking the residuary rate into composite/customs components, assigning or modifying drawback caps in selected cases, creating separate tariff entries and unit changes, and restoring drawback for specified items. Composite rates are subject to restrictions where Cenvat or excise rebates apply. The Board directs perusal of the Schedule, cautions against double refunds of service tax, and requests reporting of errors and issuance of guidance.

Electronic IPO application mechanism via broker network expands submission channels and sets broker, bank and registrar responsibilities.
SEBI introduced an electronic application mechanism using the nationwide broker network to accept ASBA and non ASBA public issue applications at designated broker centres. Brokers must acknowledge and upload bids to the Stock Exchange platform, handle payments or forward ASBA schedules, and bear liability for failures. Collecting banks/SCSBs and their controlling branches consolidate schedules and issue final certificates to registrars, who reconcile with exchange and depository data, calculate broker commissions disclosed in the offer document, and follow standard allotment, refund and listing procedures; stock exchanges must publish broker centre details and enforce compliance.

Transhipment of courier shipments: bond, custody and manifest requirements govern authorised inter airport air transfers and proof of landing.
Transhipment from Bangalore to specified Customs Airports is permitted for Authorized Couriers under the Customs Act and relevant transhipment and courier regulations, conditional on an application with airway bills, payment of the fee, compliance with segregation, X ray and double lock storage procedures, and execution of a bond or mother bond with a bank guarantee; the bond is debited on transhipment and discharged on production of a Customs certificate of safe landing from the destination, with penalties for failure to account for unloading or shortages.

Special Currency Basket value revised for deferred payment protocols, requiring authorised dealers to implement updated Rupee valuation.
The Reserve Bank of India notified AD Category I banks of a revision to the Rupee valuation of the Special Currency Basket applicable to Deferred Payment Protocols with the erstwhile USSR, fixed effective from the specified date; banks must inform constituents and implement the revised valuation, and the Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions.

Redemption and transferability of DFIA require prescribed documentary compliance and pre check procedures to enable processing.
Checklist prescribes documentary and procedural requirements for redemption and transferability of Duty Free Import Authorisations (DFIA), listing mandatory submissions-covering letter, two signed ANF-4H forms, CA/CWA certified consumption register, import statements and export realisation evidence-and distinguishing physical and deemed export documentation. It states no CENVAT declaration is needed for transferability while redemption with actual user condition requires CA or Central Excise certification (or proof of non excisability). Additional contingencies and regularisation measures for bona fide defaults, and operational instructions to use counter assistance for pre checks, are also specified.

Clubbing and redemption of advance authorisations require specified documentation, common input and RA alignment, and composition fee where EO lapses.
Procedural check-list for clubbing and redemption of Advance Authorisations requires submission of originals and certified documents (signed ANF 4D, consumption register, CA/Central Excise certifications where CENVAT credit is claimed), export realisation proof or shipping bills for physical exports, jurisdictional excise signed invoices for deemed exports, and additional specific documents for regularisation; all authorisations to be clubbed must share at least one common input, be issued by the same Regional Authority, meet value addition requirements, and where EO timing lapses a prescribed composition fee must be paid and evidenced by TR challan.

Foreign investment threshold change allows majority foreign owned NBFCs to form step down subsidiaries without bringing additional capital.
The amendment permits NBFCs with foreign investment above three quarters and up to full ownership and with a minimum capitalisation to set up step down subsidiaries for specified NBFC activities without restriction on the number of operating subsidiaries and without bringing in additional capital; the minimum capitalization requirement in the circular therefore does not apply to downstream subsidiaries.

Pre Shipment Inspection: Fourteen agencies added to approved PSIA list under paragraph 2.4 of Foreign Trade Policy.
The Director General of Foreign Trade, exercising powers under paragraph 2.4 of the Foreign Trade Policy, 2009-14, amends Appendix 5 of the Handbook of Procedures (Vol. I) to approve and enlist specified entities as Pre Shipment Inspection Agencies (PSIA) with immediate effect; fourteen named agencies and their regional branches are added to the PSIA list with contact and regional operation details recorded in the notice.

Quarterly return filing arrangements require hard-copy submission of online-filed returns at designated counters by the stated deadline.
Hard copies of quarterly VAT returns that have been filed online for the quarter ending 30-9-2012 will be accepted at designated Front Office Extension Counters on specified dates during set hours, with floor-wise staff arrangements made by Zonal-in-charges. Date-and-numbering stamps will be issued to ward in-charges and must be returned to the Front Office by the close of the final receipt day. No manual return not filed online shall be accepted, and a last date for online submission is fixed.

Service tax refund on cancelled AC and First Class rail tickets: remaining tax refunded while tax on cancellation charges retained.
Service tax on cancellations of AC and First Class tickets booked on or after 1-10-2012 must be refunded except the portion attributable to cancellation/clerkage charges retained by Railways; that portion alone is taxable. Until PRS and UTS modules automate refunds, manual refunds will be given at booking counters with amounts displayed on the PRS cancellation form, recorded in a separate register and endorsed on the cancellation ticket; IRCTC will handle e ticket refunds via its front end using PRS-provided details. Automation via PRS and UTS will take effect from the implementation date.

Customs area designation enables supervised examination, stuffing and sealing of FCL import and export containers under customs control.
Designation declares M/s. Sattva Conware Private Limited premises at Ponneri a CUSTOMS AREA for examination and clearance of FCL imports (excluding LCL and unaccompanied baggage), authorises movement of such containers from Chennai Port to the CFS, and provides for customs-supervised stuffing/loading of export cargo and sealing. The notice sets out facility area and warehouse demarcation and requires compliance with prior Public Notices and the Handling of Cargo in Customs Areas Regulations, 2009.

Service Tax on rail goods transport to be collected on taxable freight with RR-based procedures and registration requirements.
Service Tax is mandated on transport of goods by rail effective 01.10.2012, chargeable on 30% of total freight after a 70% abatement, producing an aggregate levy of 3.708% on total freight for taxable commodities. Certain commodity groups are exempt per Notification No. 25 of 2012. Zonal FA&CAOs must register, and Service Tax must be collected at RR preparation or delivery (for To pay RRs); TMS updates and manual RR notations must record Registration No., service code, and breakdown of Service Tax, Education Cess and Higher Education Cess. Demurrage, wharfage, WRF, haulage and related charges are taxable and require corresponding accounting, refunds and monthly station-wise reporting.

E-Helpline for Trade & Industry launched to provide assessment, procedural and system support requiring PAN or ACES registration.
Launch of a zonal E-Helpline provides trade and industry in the Mumbai Central Excise & Service Tax Zone I guidance on assessment matters, procedural delays, and system issues including ACES. Queries must be clear and include ACES registration number or PAN; no clarification will be processed without PAN. Responses, approved by the Chief Commissioner, will be emailed to applicants and copied to the jurisdictional Commissionerate and a nominated nodal trade association for wider dissemination.

Extension of reconciliation return deadline: DVAT 51 and original declaration forms may be furnished by the extended deadline.
The Commissioner extends the time limit for furnishing the DVAT 51 reconciliation return and for submitting the portion marked 'original' of Declaration Forms C, E I, E II, F, I, J and H for specified quarters of the 2011 12 tax year, setting a common extended compliance date of 31st October, 2012.

Service tax filing limited to April to June data; July-September returns will be required in a revised format later.
Assessees must file the half yearly ST-3 due 25 October 2012 only with data for 1 April to 30 June 2012; data for 1 July to 30 September 2012 must not be filed now, ACES will be altered to reject any such data and a revised return format and filing deadline for the July-September period will be notified separately.

Fee waiver for e form 23B extended to facilitate timely filing of non XBRL annual financial statements.
The competent authority approved a temporary waiver of additional fees for electronic filing of Form 23B by statutory auditors for the accounting year 2012-13 to facilitate the smooth filing of Forms 23AC (Non XBRL) and 23ACA (Non XBRL); the waiver applies until 23 12 2012 or the due date of filing, whichever is later, pursuant to prior fee imposition under Schedule X by Circular No. 14 of 2012.

Filing extension for non XBRL financial e forms enables staggered AGM linked deadlines without additional fees.
The Ministry extended the due dates for electronic filing of e forms 23AC (Non XBRL) and 23ACA (Non XBRL) without additional fees, adopting a staggered timetable tied to a company's AGM date to facilitate filing under Revised Schedule VI for accounting years commencing on or after 1 April 2011; the notified e forms prescribe mandatory fields, attachments, verification, and digital signature requirements.

Service tax on rail parcel transport imposed; charged on a portion of freight and collected at booking for compliance.
Service tax is levied from 1 October 2012 on transportation of leased and non leased parcel traffic and merchandise booked as luggage, excluding personal passenger baggage and specified exempt commodities. Tax is assessed on a portion of total freight after abatement, with education and higher education cesses added; it must be calculated on Parcel Way Bills, Luggage Tickets or Money Receipts and collected at booking, with destination collected undercharges also taxable. Zonal FA&CAOs must register, record registration details on bills, adapt PMS software, maintain customer wise records and submit monthly statements to ensure correct assessment, collection and remittance.