Foreign direct investment approvals and regulatory regularisations announced, including ex post approvals, waivers, and deferred proposals.
Government approved thirteen FIPB recommended proposals covering fresh foreign equity inductions, issuance of shares and warrants, ex post facto regularisations of prior foreign participation, issuance against non cash consideration and advances, and waivers or amendments of capitalisation and approval conditions. Eight proposals were deferred pending further inputs; two were rejected for seeking capitalisation relaxations and impermissible foreign fund investments; one conversion to an operating cum holding company for downstream investment was noted without fresh inflow.

Tariff value notification for import commodities clarifies valuation basis for edible oils, brass scrap and poppy seeds.
Notification sets tariff values in US dollars per metric tonne for specified imported goods-various edible oil categories (noting no change for several items), brass scrap (all grades), and poppy seeds-providing commodity-specific valuation benchmarks to be applied for customs assessment and import valuation purposes under the listed chapter headings and tariff items.

Fiscal consolidation urged as CBEC must adopt innovative measures to address indirect tax revenue shortfall.
The Finance Minister urged restoration of fiscal consolidation and directed CBEC to adopt innovative measures to address a pronounced decline in indirect tax receipts, while redefining Customs and Central Excise roles toward trade facilitation, expansion of Service Tax, reduction of dwell time, and enhanced use of IT and Risk Management Systems to improve compliance, curb smuggling, and prepare administratively for implementation of a dual GST.

Foreign investment in micro and small enterprises permitted subject to sectoral caps and entry route conditions.
FDI in micro and small enterprises is permitted subject only to sectoral equity caps, entry routes and relevant sectoral regulations following the MSMED Act; Press Note 18 (1997) is modified accordingly. Industrial undertakings that are not MSEs but manufacture items reserved for the MSE sector must obtain an Industrial Licence and undertake to export a significant share of new or additional annual production within a set period, and require prior government approval when foreign investment exceeds the automatic route threshold.

Foreign direct investment approvals: cleared, deferred, rejected, withdrawn, and one referred for higher-level consideration in varied sectors.
Eight foreign direct investment proposals were approved while seven were deferred, one rejected, one withdrawn, one advised to approach the sectoral regulator, and one recommended for higher level consideration; approved transactions included non cash consideration mechanisms (share allotments for machinery or pre incorporation expenses), share swaps, convertible warrants, and increases in foreign equity, and one matter was subject to a judicial direction to hear both parties before final communication of decision.

Undervaluation of imports prompts seizure, valuation comparison and interim duty payment amid ongoing customs investigation.
Undervaluation in import declarations of branded glassware by a Kolkata importer prompted search, seizure and document recovery showing routings through a Hong Kong trader and declared values substantially lower than those reported by the domestic distributor; seized stock and preliminary estimates indicated import duty evasion, the importer admitted undervaluation and paid an interim deposit while investigation continues.

Prohibited export seizure of red sanders: containers intercepted, goods seized under customs law and suspect arrested for smuggling.
DRI Kolkata intercepted two export containers declared as ductile iron castings but found stuffed with logs believed to be Red Sanders, seized under the Customs Act as a prohibited export under the Foreign Trade Policy. An individual apprehended admitted transporting and delivering the wood, was identified as a mastermind of a smuggling racket, arrested and remanded, and further investigation into the export facilitation network is ongoing.

Tariff value notification sets import values for edible oils, brass scrap and poppy seeds affecting customs valuation.
The Department of Revenue notified per metric tonne tariff values for specified commodities to guide import valuation: multiple edible oil categories (Crude Palm Oil; RBD Palm Oil; other Palm Oil; Crude Palmolein; RBD Palmolein; other Palmolein; Crude Soyabean Oil) are recorded as unchanged, while Brass Scrap (all grades) and Poppy Seeds have prescribed tariff values to be applied for customs assessment.