Tariff values of edible oils, brass scrap and poppy seeds notified, updating customs valuation entries.
Central Board of Excise and Customs issued Notification No.19/2009-Customs (N.T.) notifying tariff values for specified imported commodities-various edible oils, brass scrap (all grades) and poppy seeds-stating unit values in US dollars per metric tonne, with several edible oil entries noted as no change; the notification provides the administrative tariff valuation figures for customs assessment and import valuation.

Taxation of imported services: service tax applies only from commencement of the statutory charging provision, not earlier.
The Mumbai High Court determined that imposition of service tax on imports of services was legally tenable only from the date the statutory charging provision came into force; imports prior to that commencement were outside the service tax net and lacked statutory basis.

Deemed export claims funding released to settle pending excise duty, duty drawback and central sales tax liabilities under export schemes.
The Government released funds to regional authorities for settlement of pending Terminal Excise Duty and Duty Drawback claims under the deemed export scheme, and provided additional funds to Development Commissioner offices of Special Economic Zones to discharge pending Central Sales Tax claims for supplies to 100% Export Oriented Units.

Special Economic Zones drive employment growth and export expansion through incentives and regulatory facilitation.
Government measures to arrest export deceleration combine fiscal and liquidity interventions-excise duty reductions, targeted interest subvention for labour intensive export sectors, additional funding for incentive schemes and textile claim clearances, elimination/reduction of selected export/import duties, and guarantee/refund mechanisms-alongside promotion of Special Economic Zones as engines of employment and export growth and continued use of anti dumping investigations and sectoral promotion schemes to support competitiveness.

Economic stimulus measures liberalise external borrowing and strengthen liquidity and credit support for infrastructure and MSMEs.
Regulatory and fiscal measures provide a counter cyclical stimulus by liberalising External Commercial Borrowing approvals, permitting ECB for integrated township development and infrastructure NBFCs, increasing FII limits in rupee corporate bonds, authorising IIFCL to raise tax free bonds for infrastructure refinancing, creating an SPV to offer liquidity support to eligible NBFCs, instituting credit lines and revised bank credit targets with enhanced monitoring, and expanding credit guarantee coverage and MSME credit resolution mechanisms.

Customs duty changes restore import duties on cement, zinc, ferro-alloys and TMT bars to protect domestic industry.
Imported cement, zinc, ferro-alloys, and TMT bars and structurals will have previously withdrawn exemptions reinstated as customs or additional duties, implemented by Notification No. 2/2009-Customs dated 2 January 2009 to equalize treatment with domestic industry. The drawback schedule for 2008-09 is amended effective 1 September 2008 to increase rates for certain knitted fabrics and hand tools, raise value caps for specified items, include central excise for certain polyester yarns, and extend drawback to specific footwear, following Drawback Committee recommendations.

ECB policy liberalisation suspends all-in-cost ceilings temporarily and widens eligible borrowers and routes for external borrowing.
The ECB policy review dispenses with the requirement of all-in-cost ceilings until review and allows borrowers exceeding prior ceilings to seek approval from the Reserve Bank; concurrently, it permits integrated township developers and specified NBFCs to access ECBs under the approval route (with a direct-lending ratio condition), moves certain services sector capital expenditure ECBs to the automatic route (excluding land acquisition), and raises the FII corporate debt investment ceiling, with changes effective on RBI notification.