Import policy revision for natural rubber protects growers by raising customs duty and shortening export obligations period.
The Government adopted targeted changes to protect domestic natural rubber growers by reducing the export obligation period under Advance Authorisation/DFIA schemes to six months from consignment clearance and increasing the basic customs duty on dry forms of natural rubber; measures aim to address increased imports driven by lower world prices, domestic shortages and irregular arrivals.

BIMSTEC Free Trade Agreement negotiations proceed under the Framework Agreement, covering goods, services, investment and cooperation.
The Framework Agreement on the BIMSTEC Free Trade Agreement, signed in February 2004, provides for negotiation of an FTA on goods, services, investment and economic cooperation; members formed the Trade Negotiating Committee to conduct negotiations under the Framework Agreement and have held twenty rounds. The document also summarises 2014-15 country-level export and import shares between India and BIMSTEC partners.

Indirect tax exemptions for domestic shipbuilding expanded, with EOUs eligible and warehouse requirement replaced by actual user conditions.
The Government expanded indirect tax incentives for the domestic shipbuilding industry by exempting customs and central excise duties on all raw materials and parts for ship manufacture, allowing Export Oriented Units to claim input exemptions for vessels cleared to the domestic tariff area even if those vessels are duty-exempt, and replacing the custom bonded warehouse requirement under Section 65 of the Customs Act with actual user conditions for entitlement to the exemptions.

Stock limits and de-hoarding measures ordered to stabilise raw jute supply and market availability.
The Government directed the Jute Commissioner to notify stock limits and undertake de-hoarding with State Governments to release seasonally produced raw jute to mills; asked the Department of Commerce and Ministry of External Affairs to seek lifting of Bangladesh's export ban; and instructed State Governments and the Department of Agriculture to adopt measures to promote jute cultivation and check its decline.

Indirect Tax Ombudsmen strengthening: enhanced taxpayer grievance channels and outreach to trade associations for redress.
The Indirect Tax Ombudsmen (ITOM) will hold meetings with trade and industry associations and encourage taxpayers to submit complaints. ITOMs serve as a grievance mechanism for deficiencies in Customs, Central Excise and Service Tax administration, including non-adherence to working hours and delays in refunds, rebate and drawback, and may propose remedial action. ITOMs are constituted under the ITOM Guidelines and contact details are available on the central board's taxpayer assistance portal.

Interest Equalisation Scheme extends export credit interest support to MSME and selected tariff lines, funded and administered via revolving reimbursements.
An Interest Equalisation Scheme offers a 3% interest concession on pre and post shipment rupee export credit for five years from 1 April 2015, available to MSME exports and exporters of 416 specified tariff lines but not to merchant exporters. Funding is to come from Department of Commerce allocations transitioning from non plan to plan funds, with the Ministry placing short term requirements with the central bank and monthly reimbursements via a revolving fund; the central bank will issue operational instructions and a three year impact study will be undertaken.

Currency swap framework extension permits bilateral swap agreements with SAARC nations, enabling negotiated drawdowns and temporary reserve support.
Extension of the Framework on Currency Swap Arrangement authorises the RBI to offer bilateral currency swaps to SAARC central banks sized to cover short-term import needs in USD, Euro or INR, subject to an aggregate ceiling. Amendments clarifying operational clauses were approved and any Framework modification requires Finance Minister approval. Bilateral agreements will be executed by RBI after government clearance. Extension alone has no fiscal impact, but drawdowns under bilateral swaps would temporarily deplete RBI foreign exchange reserves up to the agreed maximum and impose an interest obligation on the Receiving Party.

Trade deficit narrows as merchandise exports and imports fall, driven by reduced oil imports and services surplus.
Merchandise trade contracted in October 2015 and for April-October 2015-16 with exports declining and imports falling by a larger proportion, resulting in a narrower trade deficit year on year. Oil imports contributed substantially to the import decline, while non oil imports showed only marginal year to date change. Services trade for September 2015 showed a net export position with receipts exceeding payments.

Duty Drawback rates revised to reflect average duty incidence; brand rate extended to wheat with provisional post-export payments.
Notification revises the All Industry Rates of Duty Drawback effective 23 November 2015 to reflect average Customs, Central Excise and Service Tax incidence; adds new items to address higher duty incidence and classification issues; extends the brand rate route to wheat and provides for provisional post-export payment for brand-rate claims; an Expert Committee will consider Export Promotion Council feedback and make further recommendations.

Refund of CENVAT credit: provisional expedited payments to exporters of services upon auditor certification to unlock accumulated credits.
The scheme provides that exporters of services submitting a statutory auditor/Chartered Accountant certificate and claimant declaration will receive a provisional payment of 80% within five working days for accumulated and unutilised CENVAT credit claims pending as on 31-3-2015 that have not been disposed of by a sanction order, with detailed procedures set out in Circular 187/6/2015-Service Tax.

Indirect tax revenue growth signals expansion of the tax base after policy measures increased provisional collections.
Provisional indirect tax collections for April-October 2015 rose substantially year on year and exceeded the proportionate share of the budget estimate for the period. Central Excise registered the largest increase, Service Tax rose moderately, and Customs grew at a lower rate. The statement attributes part of the rise to government measures (excise increases on diesel and petrol, higher clean energy cess, withdrawal of exemptions, and an increase in Service Tax rates) and separately reports an exclusionary growth figure that nonetheless indicates expansion of the underlying tax base.

Foreign Trade Policy focus emphasizes long-term orientation and sectoral support to boost exports amid global slowdown.
The Parliamentary Committee reviewed declining exports and imports and the improved trade deficit; the Ministry emphasised Foreign Trade Policy 2015-2020 as a long term framework, reported expansion of the Merchandise Exports of India Scheme (MEIS), and outlined sectoral support and bilateral engagement to address non tariff barriers, promote export diversification, and bolster value added exports amid global slowdown.

Gold monetization mobilizes household gold into formal instruments to provide returns and reduce import reliance.
The announcement establishes three instruments-the Gold Monetization Scheme, the Sovereign Gold Bond Scheme, and India Gold Coins-to mobilize privately held gold into formal channels, provide returns on idle household gold, and substitute for imported gold by promoting domestic issuance and minting; implementation steps include an information portal and issuance evidenced by Certificates of Investment.

Exchange rate notification under Customs Act sets conversion rates for imported and export goods effective November.
The Central Board of Excise & Customs, under statutory authority, prescribes specific exchange rates for conversion between listed foreign currencies and Indian rupees for import and export goods, superseding a prior notification. The rates are set out in two schedules-Schedule I with per-unit rates and Schedule II with rates per one hundred units-and are effective from the operative date stated, with a savings clause for transactions completed before supersession.

Retrospective amendment of export incentive policy cannot withdraw vested entitlement unless no vested right had arisen.
The document explains that exclusions and restrictions to an export incentive scheme were imposed following evidence of widespread misuse, and that DGFT exceeded its procedural authority by excluding goods via Public Notice, which was ultra vires. The Central Government later regularised exclusions under statutory power. Delegated legislation is ordinarily prospective; statutory amendment power did not permit retrospective withdrawal of benefits where exporters had already acquired a genuine vested right. Amendments aimed at preventing misuse do not affect non accrued or ill gotten entitlements.