Consolidated FDI Policy updates: prohibition on tobacco manufacture, clarified controlled conditions, downstream investment and reporting rules.
The Circular consolidates the FDI framework effective October 1, 2010, restates FEMA/RBI as the legal basis, adds manufacture of certain tobacco products to the prohibited list, defines "controlled conditions" for specified agriculture sub sectors, clarifies value addition for titanium mineral processing (allowing technology transfer to satisfy requirements), confirms downstream investment via internal accruals (subject to notification and downstream rules), and specifies minimum capitalization, lock in, pricing, reporting (FC GPR/FC TRS) and compliance obligations including FEMA penalties.

MRP based valuation rule exceptions prevent MRP valuation for packages exempted under Rule 34; valuation follows Section 4.
MRP based valuation under Central Excise does not apply where a package falls within Rule 34 exemptions of the Standards of Weights and Measures (Packaged Commodities) Rules, 1977; in such cases valuation is to be made under Section 4. Rule 34 exempts packages with net quantity of ten grams or ten millilitres or less, requires declaration for 10-20 g/ml packages, and exempts fast food packages by restaurants, formulations under the Drugs (Price Control) Order, 1995, and agricultural produce in packages above fifty kilograms.

Service tax on software affirmed as within central legislative competence, applicability depends on the nature of each transaction.
Parliament has legislative competence to tax software services under its residuary power; whether software is 'goods' depends on attributes like utility, capability of being bought and sold, and transferability, and many transactions governed by end-user licences transfer only a right to use while copyright is retained by the developer. Customised software and downloadable access without physical media may not constitute goods. The characterisation of any transaction as sale or service depends on its specific terms and must be assessed individually when tax demands are raised.

Service tax liability prompts demand cum show cause notice to public developer over unpaid leases and club services; response required, penalties possible.
A central revenue authority issued a demand cum show cause notice to the Delhi Development Authority alleging nonpayment of service tax on lease of immovable property and club or association services since 2007, quantifying separate tax demands and inviting a response within thirty days, after which penal action may be taken; the notice targets income streams from land sales, rentals, membership and sports complex fees.