Tax deduction provision: extension of eligible project notification for renovation of Ayurvedic hospital and gurukul ashram preserving approved cost.
Notification extends the eligible project "Renovation of Ayurvedic Hospital and Gurukul Ashram" carried out by Prachina Bharatiya Vidya Sadha Gurukul Ashram, Nuapada, Orissa, based on the National Committee's recommendation that the project is properly executed, and preserves the previously approved estimated cost while notifying the project for a further three-year period commencing with financial year 2015-16 to maintain eligibility for tax-deduction treatment under the Income-tax Act.

Tariff valuation prescribed for specified imports, setting customs benchmark values for oils, metals and agricultural seeds.
Fixation of tariff values under Section 14(2) of the Customs Act, 1962 by substituting TABLE-1, TABLE-2 and TABLE-3 of the principal non tariff notification, prescribing US dollar per metric tonne (or per unit) benchmark values for specified edible oils, brass scrap, poppy seeds, areca nuts and separate per unit/per kilogram values for gold and silver where specified concession entries are availed.

Registrar of Chits appointment enables the designated official to discharge statutory duties under the Chit Funds Act.
The Lieutenant Governor, under the Chit Funds Act, appoints Sh. Abhishek Dev, Additional Commissioner, Department of Trade & Taxes, as Registrar of Chits for the National Capital Territory of Delhi to discharge the duties imposed on the Registrar by or under the Act, by official notification of the Finance (Revenue-I) Department.

Appointment of Sub Divisional Magistrates as VAT authorities to assist administration of value added tax under statutory delegation.
Appointment of Sub Divisional Magistrates of the Revenue Department as Value Added Tax Authorities by delegated statutory power to assist the Commissioner of Value Added Tax in administering the Act and Rules, issued in the name of the Lt. Governor to operationalise decentralised administrative support.

Long-term debenture issuance expanded: Infrastructure Debt Fund NBFCs and authorised entities may issue extended-maturity debentures under Companies Rules amendment.
Amends rule 18(1)(a) of the Companies (Share Capital and Debentures) Rules, 2014 by substituting sub clause (iii) to include Infrastructure Debt Fund Non Banking Financial Companies as eligible issuers and by adding a sub clause permitting companies authorised by a Central Government ministry/department, the Reserve Bank of India, the National Housing Bank, or any other statutory authority to issue debentures with maturities exceeding ten years.

Central Excise Amendment updates exemption tariff entries for specified items, changing per litre rates and taking effect immediately.
Amendment to notification No.12/2012 substitutes entries in the Table for serial numbers 70 and 71: serial 70 item (i) and (ii) column (4) replaced with new per litre rates of Rs.7.06 and Rs.8.24 respectively; serial 71 item (i) and (ii) column (4) replaced with new per litre rates of Rs.4.66 and Rs.7.02 respectively. The amendment is issued under section 5A(1) of the Central Excise Act, 1944 and comes into force on the 7th November, 2015.

Swachh Bharat Cess applicability clarified: leviable on taxable services from mid-November with valuation and exemption rules.
Swachh Bharat Cess is leviable on taxable services from 15th November, 2015, but the notification exempts any amount exceeding the cess calculated at the prescribed effective rate. The cess is not leviable on services exempt from or not chargeable to service tax. Levy is limited to the percentage of taxable value specified for particular services in the referenced notification, and taxable value for the cess is determined under the Service Tax (Determination of Value) Rules, 2006.

Swachh Bharat Cess commencement: Chapter VI of the Finance Act set to take effect from the notified commencement date.
Appointment of the commencement date designates the operative start of the Swachh Bharat Cess by bringing into force the tax provisions contained in Chapter VI of the Finance Act, 2015. The Central Government has appointed 15th November 2015 as the date from which Chapter VI will take effect, thereby activating the statutory framework for imposition and administration of the cess within the existing service tax architecture.

Constitution of Regional Bench: specified territorial appeals will be heard and filings accepted at designated registry address.
Establishment of a Regional Bench to exercise appellate jurisdiction in customs, excise and service tax matters under statutory powers conferred on the President of the Tribunal, with jurisdiction defined by territorial allocation in an accompanying government communication. The Bench will hear appeals originating within the specified territories and matters transferred by order of the President, and will commence accepting filings at the designated registry address.

Exchange rate determination under Customs Act sets specified currency conversion rates for import and export valuation.
Determination under the Customs Act fixes specified exchange rates for listed foreign currencies into Indian currency, effective 6th November 2015, superseding the prior notification. The rates are set separately for imported goods and for export goods; Schedule I provides per unit rates while Schedule II provides rates per one hundred units, and the rates shown in the corresponding columns are to be applied for customs purposes.

Regional Bench constitution establishes appellate forum and specified territorial jurisdiction; filing of appeals commences at designated registry.
Establishment of a Regional Bench, Chandigarh under enabling provisions of the Customs Act, Central Excise Act, Finance Act and Customs Tariff Act, pursuant to administrative directions. The Bench is assigned territorial jurisdiction over appeals from Chandigarh, Punjab, Haryana, Jammu & Kashmir and Himachal Pradesh and will commence accepting filings of appeals from 1-12-2015 at the registry located at 1st-3rd Floor, SCO No. 147-148, Sector-17C, Chandigarh, and will receive matters transferred by general or special order of the President.

Regional Directors notified to exercise Companies Act functions for specified jurisdictions; prior Act functions continue where still in force.
Central Government notifies seven Regional Directors in the Ministry of Corporate Affairs to discharge functions under the Companies Act, 2013 for the specified States and Union Territories, allocating territorial jurisdiction to each Regional Directorate. The notification also preserves continuity by directing those Regional Directors to continue exercising functions conferred or delegated under the Companies Act, 1956 in respect of provisions of that Act still in force, and declares the notification effective from its publication in the Official Gazette.

Common Adjudicating Authority appointed to adjudicate a DRI-issued show cause notice concerning an importer.
The Central Board of Excise and Customs appoints the Joint or Additional Commissioner of Customs, Office of the Commissioner of Customs (Port), Chennai-II, as a Common Adjudicating Authority to exercise the powers and duties of two specified Joint or Additional Commissioners of Customs for adjudication of the show cause notice and its corrigendum issued by the Directorate of Revenue Intelligence concerning M/s Master Mining Equipment.

Common Adjudicating Authority appointed to centralize adjudication of specified customs show cause notices under the Customs Act.
The Central Board of Excise and Customs appoints the Additional Commissioner of Customs (Export), Inland Container Depot, Tughlakabad, New Delhi, as a Common Adjudicating Authority to exercise the powers and duties of both the Additional Commissioner (Export) and the Additional Commissioner (Import) at that depot, limited to adjudicating matters arising from specified show cause notices issued to M/s K.K. Traders and others by the Directorate of Revenue Intelligence, Delhi Zonal Unit.

Customs notification amendment adds new ICD/LCS location permitting unloading of imported goods and loading of export goods.
The Central Board amends Principal Notification No.12/97 CUSTOMS (N.T.) to insert Village Tumb, Taluka Umbergaon, District Valsad as a designated inland container depot/land customs station authorized for the unloading of imported goods and the loading of export goods, effected under the statutory powers granted by the Customs Act.

Amendment to Central Sales Tax Rules clarifies turnover reporting for goods listed in the Fourth Schedule under C Form and non C Form.
Amendment revises Form 1 of the Central Sales Tax (Delhi) Rules, 2005 by substituting field R7.3 to record "Turnover of goods sold against C-Form [Fourth Schedule of the DVAT Act]" with separate entries for goods described in the Fourth Schedule and specified tax rates, and by substituting field R7.7 to record "Turnover of goods sold without C Form [Fourth Schedule of DVAT Act]" with corresponding rate entries.

Appointment of officers to assist the Commissioner of Value Added Tax under statutory authority; administrative VAT staffing implemented.
Notification appoints named officers to assist the Commissioner of Value Added Tax under statutory authority, assigning them as Assistant Commissioner cum VATO, Assistant Value Added Tax Officer, or Value Added Tax Inspector, with appointments effective from the date of assumption of charge (joining dates recorded).

Sovereign Gold Bonds: gram-denominated government bonds priced to market, 2.75% annual interest, eight-year maturity with limited early redemption.
The Scheme creates Sovereign Gold Bonds issued as Government of India Stock, available to persons resident in India, subscribed in gram-denominated units (min. two grams, max. 500 grams per person per year). Issue and redemption prices are set in rupees by reference to the simple average of the previous week's 999 purity gold closing price. Bonds bear fixed interest at 2.75% per annum, payable half-yearly, mature in eight years with early redemption permitted from the fifth year on coupon dates, are convertible to demat, eligible for SLR treatment, usable as collateral subject to RBI loan-to-value norms, and the interest and capital gains are taxed as provided under income-tax law and like physical gold respectively.

Subordination of Income-tax authorities under section 144C to designated superior authorities, superseding prior notification for dispute-resolution functions.
CBDT, under section 118, directs that specified Income-tax authorities in the accompanying table shall be subordinate to designated senior Income-tax authorities for purposes of performing functions under section 144C, superseding the notification dated 1st January, 2015; the table allocates supervisory responsibility over Members of Dispute Resolution Panels to specified Principal/Chief Commissioners of Income-tax.

Provisional assessment of imported clear float glass pending new shipper review; security and retrospective duty liability apply.
Orders provisional assessment of imports of Clear Float Glass (4-12 mm) from Pakistan, Saudi Arabia and UAE by M/s Tariq Glass Industries Limited, Pakistan, pending a new shipper review. Provisional assessment may be secured by such security or guarantee as the proper officer of customs deems fit to cover any deficiency if a definitive anti dumping duty is imposed retrospectively. If anti dumping duty is recommended on completion of the review, the importer shall be liable to pay the duty from the date of initiation of the review.