Foreign direct investment approvals across sectors permit varied entry modes and conditional downstream investment arrangements.
FIPB approved twenty-six FDI proposals across multiple ministries and sectors using mechanisms including share swaps, cash acquisitions, fresh equity issuance, transfers to non residents, joint ventures, and conversions of operating companies into operating cum holding or investing companies to enable downstream investments; some approvals invoke Press Note 1 of 2005. Separately, nine proposals were deferred for further scrutiny, three were rejected, eight were advised to use the automatic route, and two were withdrawn by applicants.

Sensitive item imports increased while foodgrain imports declined; edible oil growth and shifting source countries drove the trend.
Aggregate imports of sensitive items rose substantially for April-December 2008 compared with the prior year while remaining a small proportion of gross imports. Foodgrain imports fell broadly, whereas edible oil, automobiles, fruits and vegetables, textiles, SSI products, rubber, spices, alcoholic beverages, marble and granite, tea and coffee, and dairy products increased. Edible oil imports climbed for both crude and refined categories, driven by higher crude palm oil and fractions. Country sources shifted, with increases from several Asian and European suppliers and decreases from others such as Canada and Argentina.

R&D cess on import of technology payments must be remitted via prescribed challan to specified Central Government accounts.
The R&D cess applies to payments for import of technology approved by the Central Government or under the Industrial Policy, including fees for technology, cost of drawings and designs, and payments for deputation of technical personnel; remittance must be made via Challan Form TR-6 through authorised banks to Central Government accounts under Major Head 0045 and Minor Head 117.

Service tax rate applicability determined by date of rendering services; billing, payment or later collection does not alter applicable rate.
The controlling principle is that service tax rate applicability is ordinarily determined by the date on which the service is rendered or the contract is entered into, not by subsequent billing or later receipt of payment; advance receipts are taxed at the rate in force on the date of receipt and hire purchase contracts are governed by the rate prevailing on contract date.

Foreign direct investment approvals expand across sectors; many proposals deferred, one rejected, one withdrawn, and one noted ex post facto.
Foreign Direct Investment approvals were granted for twenty-nine proposals across multiple ministries and sectors, amounting to approximately Rs. 616.08 crore. Approvals include induction of foreign equity, conversions of operating companies into operating cum holding companies to permit downstream investments, issuance of convertible instruments, post facto regularisations, and sector specific permissions subject to Press Note constraints. Nineteen proposals were deferred for further scrutiny, one was rejected for impermissible repatriation of original investment, one withdrawn, and one investment was noted ex post facto absent a policy at the time.

Exemption through refund mode: SEZ units may claim refund for service tax paid by providers under revised scheme.
Service tax treatment for SEZ units and developers is revised to an exemption through refund mode: service providers must pay service tax on services to SEZ units or developers, while the SEZ units or developers may claim exemption by filing refund claims for the service tax paid; the previous notification granting direct exemption has been withdrawn.