Exchange rate determination for customs: notified import and export conversion rates effective 22 July 2016 for valuation.
Authority invokes the Customs Act to prescribe, effective 22 July 2016, specific rupee conversion rates for listed foreign currencies for customs valuation, distinguishing rates for imported goods and export goods in two annexed schedules and superseding the earlier board notification except as to prior actions.

Foreign exchange repatriation compliance requires enforcement action and IT red-flagging for exporters with outstanding export proceeds.
Non-repatriation of export proceeds within one year violates FEMA and bars duty drawback entitlement. The SIT reviewed RBI data revealing many shipping bills with proceeds outstanding and directed initiation of FEMA action against exporters with significant pending receipts, mandated cross-checks of duty drawback claims against repatriation records with legal action where warranted, and instructed RBI to implement an IT red-flagging system and monthly data sharing with enforcement and revenue investigators.

Mandatory standards empower regulation of imports; countries require equal application to domestic and imported goods.
Technical regulation through mandatory standards, grounded in the WTO TBT and SPS Agreements, allows national authorities to require standards to protect security, prevent deceptive practices and safeguard health and the environment; Indian ministries have mandated such standards applicable equally to domestic and imported products, and the Department of Commerce organises conclaves to promote stakeholder awareness and compliance.

Validity of SEZ letters of approval is time limited but may be extended, allowing developers relief for implementation delays.
Letters of approval for IT/ITES SEZ developers are valid for three years, within which developers must take effective steps to implement approved proposals; the Board of Approval may, on application by the developer, extend the validity period. Extensions have been sought and granted for reasons including adverse business climate, delays in statutory and environmental clearances, lack of demand for space, and instability in the fiscal incentive regime.

Ease of Doing Business reforms streamline export incentives and digitize IEC issuance, reducing documentation and compliance costs.
DGFT consolidated export incentive schemes into the Merchandise Exports from India Scheme (MEIS), liberalised services incentives under the Services Exports from India Scheme (SEIS), introduced an Interest Equalization Scheme to lower export credit cost, reduced mandatory export/import documents, digitised issuance of the Import Export Code (IEC) and integrated applications and data exchanges with Customs, banks and trade portals to streamline compliance and reduce physical interfaces.

Skill development partnership establishes a regional apparel training centre to rebuild the cotton and textile value chain.
An Apparel Training Centre in Kaduna, Nigeria, established under the Cotton Technical Assistance Programme, is a government to government capacity building initiative by the Department of Commerce of India in partnership with the Government of Nigeria to develop a skilled workforce for apparel manufacturing and to catalyze rebuilding the cotton and textile value chain for domestic and export oriented industry in West Africa.

Exchange rate determination for import and export goods: notified currency conversion rates take effect, superseding prior notification.
Determination of exchange rates under section 14 of the Customs Act, 1962: the Central Board of Excise and Customs notifies conversion rates for specified foreign currencies for imported and export goods, effective from 07th July, 2016, superseding the earlier notification; schedules set rupee equivalents per unit (and per 100 units) with separate imported and export columns for valuation and customs conversion purposes.

Recovery of confirmed tax demand: recovery stayed during pendency of pre-amendment stay applications and limited post-appeal initiation.
Recovery of confirmed indirect tax demands is suspended while stay applications pending from before the 06.08.2014 amendment remain undecided; the 06.08.2014 amendment introduced an interim payment obligation on filing appeals that curtailed the need for separate stay orders. If an appellate authority confirms a demand and no stay operates, recovery may be initiated only after sixty days from the appellate order. The Circular seeks to protect assessees' opportunity to appeal and to standardise recovery practice.

Economic and Technology Cooperation Agreement negotiations to be expedited, with early harvest measures effective only on treaty entry.
Negotiations will proceed on an expedited track for an Economic and Technology Cooperation Agreement (ETCA) between India and Sri Lanka, with any early harvest measures taking effect only upon the Agreement's entry into force. The ministers reaffirmed the mutual benefits of the existing Free Trade Agreement, addressed non-tariff regulatory perceptions following a workshop on Indian standards, and agreed to reconvene the reconstituted India-Sri Lanka CEO Forum to support negotiation and implementation efforts.

Trade facilitation through single window and IT reforms improving customs clearance and taxpayer-facing processes under CBEC reforms.
CBEC implemented procedural and digital reforms to improve taxpayer experience, including the Single Window Interface for multi-agency customs clearance, electronic delivery orders, digitally signed documents, expanded 24x7 clearance, deferred duty payment for select importers, warehousing liberalisation and simplified refund and credit procedures. Administrative changes targeted dispute resolution and audit selection-raising appeal thresholds, mandating pre-show-cause consultation in higher-value cases, adopting risk-based integrated audits, and amending Cenvat Credit and e-payment mechanisms to reduce litigation and accelerate refunds.

Tax compliance: focus on trust, digitization and RAPID charter to broaden voluntary participation and modernise administration.
The Prime Minister urged tax administrators to strengthen voluntary tax compliance and expand the tax base by building public trust, modernising processes through digitization, improving taxpayer facilitation and infrastructure, and adopting a five-point operational charter RAPID-Revenue, Accountability, Probity, Information and Digitization-to convert conference ideas into concrete administrative action.

Exchange rate determination sets official conversion rates for import and export goods under the Customs Act.
Under authority of section 14 of the Customs Act, 1962, the Central Board of Excise and Customs notifies official conversion rates for specified foreign currencies into Indian rupees for imported and export goods, effective 17 June 2016, superseding the earlier notification; Schedules I and II prescribe separate rupee equivalents for imports and for exports, with Schedule I listing per-unit rates and Schedule II listing rates per 100 units.

Trade Balance improved as combined merchandise and services deficit narrowed on yearly comparison.
Merchandise exports fell slightly in dollar terms while imports declined markedly, driven by substantial reductions in oil and lower non oil imports; non petroleum exports rose modestly for the month but fell cumulatively. Services receipts were essentially flat and payments declined, producing a positive net services balance. Combined merchandise and services flows produced a materially narrower overall trade deficit for the April-May period, as reflected in provisional dollar and rupee figures and comparative growth rates.

Border trade as a strategic tool to advance Act East policy by enabling normal trade and essential trade facilitation measures.
The study recommends converting India-Myanmar border exchanges into sustained normal trade to advance the Act East policy by investing in infrastructure, trade facilitation and banking, and by operationalising measures such as laboratory testing, warehousing, certificate of origin services, integrated check posts and Border Haats. It frames employment generation and improved security as enabling conditions, urging a fast-track, integrated approach across goods, services and cross-border investment to unlock the border region's development potential.

Ease of Doing Business reforms streamline registrations and single-window digital clearances for faster permits and compliance.
Reforms concentrate on digital integration and single-window clearances to streamline registrations, permits and approvals. Centralised e-platforms and composite forms (e.g., INC-29, eBiz) provide real-time issuance of PAN/TAN and employer registrations, consolidate VAT and profession tax processes, and integrate multiple central and state services. Municipalities introduced unified building bye-laws, online NOC workflows, digital signing of plans, risk-based fast-track approvals and self/third-party certification to reduce inspections, time and cost for construction permits.

Monetary policy stance maintained with unchanged rates while liquidity operations are adjusted toward neutrality to support transmission.
The Reserve Bank maintains the policy repo rate and standing facility rates unchanged and holds the cash reserve ratio steady while committing to provide liquidity as required and progressively reduce the average ex ante liquidity deficit toward neutrality. This operational approach uses open market operations, variable rate repos and term instruments to anchor short-term rates to the policy rate amid tighter liquidity from currency demand and government cash balances. The Bank retains an accommodative monetary stance, citing upside inflation risks from food and commodity prices and noting supportive demand factors including public capital expenditure and a likely normal monsoon.

Customs cooperation: bilateral agreement enables information sharing to prevent and investigate customs offences and facilitate trade.
Approval was given to sign and ratify a bilateral agreement on Co operation and Mutual Assistance in Customs Matters establishing a legal framework for exchange of information and intelligence to assist in the application of customs laws, prevent and investigate customs offences, and verify declared customs value, certificates of origin, and goods descriptions to facilitate legitimate trade and efficient clearance.

Passenger satisfaction survey prompts recommendations to improve customs information, process speed and officer conduct.
A passenger satisfaction survey at Chhatrapati Shivaji International Airport evaluated customs clearance on information, behaviour and process, finding good comparative ratings but identifying gaps in information accessibility, payment options and transparency of duty assessment (notably for TVs and jewellery). The study links low awareness and limited use of official channels to reduced satisfaction and recommends digital outreach, alternative payment methods, pre-arrival self-assessment, dedicated lanes for connecting passengers, and officer training in communication and sensitivity to improve clearance times and perceptions.

Ease of Doing Business reforms streamline company registrations and regulatory clearances through single-window digital processes and fast-track approvals.
Ease of Doing Business reforms streamline business entry and compliance by removing archaic corporate formalities, enabling single-window electronic incorporation with concurrent PAN/TAN issuance, real-time online EPFO/ESIC registration and payments without mandatory bank-account requirements, broadening security-interest registration, and enacting the Insolvency and Bankruptcy Code to enable faster exits. Complementary digitization and integration of customs, municipal permitting, property records and electricity connections reduce physical submissions, implement common application workflows and digital signatures, and promote risk-based inspections and electronic clearances.

Trade liberalization: transition from barter to normal trade expands market access and tariff-free concessions under preferential trade framework.
India provided near-comprehensive duty-free market access under its Duty Free Tariff Preference and ASEAN-India arrangements and effected the transition from barter trade to normal trade, paired with liberal services access including a visa fee waiver for business and employment applicants. The measures are complemented by sectoral cooperation offers in agriculture, pharmaceuticals, textiles, IT and autos, commitments on infrastructure and border facility upgrades, and capacity-building and training to deepen bilateral commercial engagement.