Import duty amendment reduces duties on potatoes, wheat and edible palm oil with staggered effective dates and provisos.
The notification amends Notification No.12/2012-Customs by inserting new Table entries and substituting duty rates: potatoes (HS 0701 90 00) duty reduced to 10% (new serial 18A) and wheat (HS 1001 19 00 / 1001 99 10) duty reduced to 10% (new serial 34A), with proviso clauses specifying applicability after the stated dates. It also substitutes lower duty rates for edible crude palm oil (reduced to 7.5%) and edible refined palm oil (reduced to 15%) against serial numbers 51 and 59. The amendments are effected under section 25(1) of the Customs Act, 1962.

Tax exemption for notified charitable projects extended, preserving eligibility within sanctioned cost and period limits.
The Central Government, acting on the National Committee's recommendation, extends approvals and enhanced sanctioned costs for listed charitable and welfare projects, maintaining their qualification for the project-specific tax exemption within the sanctioned cost limits and validity periods stated; certain projects are permitted scope expansions or activity modifications as specified, and funds received under Schedule VII CSR rules are expressly excluded from the exemption.

Tax deduction approvals for specified social and charitable projects enable deduction claims for approved project costs, excluding CSR funds.
Notification approves specific institutions and their eligible projects, specifying estimated project costs and the maximum amounts allowable as tax deductions under the relevant provision for the period of approval. Approvals cover projects in health, education, livelihood, disability support, women's empowerment, environment, disaster management, skill development and community development for the financial year indicated. The notification also excludes funds received under corporate social responsibility provisions from qualifying for the deduction.

Customs exemption amendment removes servicing clause, substitutes condition reference, and omits Annexure Condition to notification.
The Central Government amends Notification No. 12/2012-Customs by deleting the words "or servicing" from item (a) of column (3) against serial number 447 in the Table, substituting condition reference 5 for condition 72 in column (6), and omitting Condition No. 72 from the Annexure, thereby modifying the condition framework applicable to that exemption entry.

Service tax exemption for long-term industrial plot lease premiums removes levy on upfront consideration by public development corporations.
Exempts from levy under section 66B the taxable service provided by State Government Industrial Development Corporations/Undertakings to industrial units for granting long term leases of industrial plots where the tax is leviable on the one time upfront amount (described as premium, salami, cost, price, development charges or by any other name) payable for such lease.

Exchange rate update: South African rand conversion rates revised for import and export under Customs notification, effective immediately.
Central Board of Excise and Customs substitutes the Schedule-I entry for the South African rand in Notification No.121/2016-CUSTOMS (N.T.), revising the conversion rates for import goods and for export goods, with the amendment effective from 23rd September 2016, under the authority of the Customs Act and recorded as Notification No.122/2016-CUSTOMS (N.T.).

Special Economic Zone consolidation re-notifies consolidated SEZ areas, preserving developer rights and fiscal benefits under SEZ Act authority.
The Central Government consolidates and re-notifies multiple previously issued SEZ notifications for M/s. Adani Ports and Special Economic Zone Limited under the authority of section 4(1) proviso of the SEZ Act, 2005 and rule 8 of the SEZ Rules, 2006, having satisfied requirements of section 3(8). The re-notification supersedes earlier notifications (2009, 2012, 2013, 2015) for administrative convenience while preserving developer rights, obligations and fiscal benefits, and delineates detailed survey numbers and area totals across Multi Product, FTWZ and new multi-product schedules.

Service Tax Certificate for Rail Transportation now qualifies as the prescribed documentary evidence for CENVAT credit.
Substitutes clause (fa) in rule 9(1) of the CENVAT Credit Rules, 2004 to provide that a Service Tax Certificate for Transportation of goods by rail issued by the Indian Railways shall serve as the qualifying documentary evidence for CENVAT credit in respect of rail transportation.

Import policy change: granite slab imports permitted freely where cif value meets the per square metre threshold and thickness limit.
Import of granite slabs under ITC(HS) Codes 68022310, 68022390, 68022900 and 68029300 is permitted freely provided cif value is US $ 50 or above per square metre (for maximum thickness of slab of 20 mm), effective 1.10.2016, pursuant to an amendment to Schedule I (Import Policy) of the Foreign Trade Policy, 2015 2020.

Import condition for marble slabs: free import allowed subject to a minimum CIF per square metre requirement.
Imports of specified marble and natural stone slab categories are permitted freely from 1 October 2016 provided the CIF value meets or exceeds a prescribed threshold per square metre for slabs of up to 20 mm maximum thickness; this amends the prior policy condition in the earlier notification.

Import policy revision: marble and travertine blocks allowed freely subject to a minimum CIF value threshold per metric tonne.
Imports of rough or roughly trimmed marble and travertine blocks under the specified ITC(HS) codes are permitted freely provided the cif value per metric tonne meets or exceeds the prescribed threshold; this amends Schedule-I (Import Policy) by replacing the previous restricted licensing requirement with a value-based permissibility condition.

Commencement of Constitutional Amendment: remaining provisions of the One Hundred and First Amendment Act were appointed to come into force.
The Central Government, under sub section (2) of section 1 of the One Hundred and First Amendment Act, 2016, appointed 16 September 2016 as the date on which Sections 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18, 19 and 20 shall come into force, noting that Section 12 had come into effect earlier on 12 September 2016.

Business trust income classification updated: amended tax forms require detailed categorical disclosure of distributed income components.
Amendment requires business trusts to disclose in Form 64A a segmented aggregate income statement showing amounts and proportions of interest, renting or leasing, dividend and other income, and to maintain a register of distributions to unit holders with PAN and categorical allocation. Form 64B is amended to record, for each distribution during the previous year, the date and breakdown of amounts by interest, renting or leasing, dividend and other income.

Infrastructure debt fund status granted to India Infradebt Limited subject to tax and regulatory compliance and timely return filing.
Notification designates M/s. India Infradebt Limited as an infrastructure debt fund for assessment year 2013-14 and subsequent years, subject to compliance with the Income-tax Act, the Income-tax Rules provision for infrastructure debt funds and conditions laid down by the Reserve Bank of India, and subject to filing its return of income as required by the applicable income-tax return provision on or before the due date.

Basic customs duty change for marble and granite slabs raises import duty and revises tariff classifications and exemptions.
The notification amends Notification No.12/2012-Customs to exclude Rough Marble and Travertine blocks and Marble slabs from an existing entry, and inserts new tariff entries imposing an effective Basic Customs Duty of 20% on specified Marble slabs and on specified Granite slabs, while adjusting related serial entries to account for the new slab classifications.

Duty drawback declaration revised to require explicit non claim when CENVAT or diesel procurement exemptions apply.
Amendments to Form A.R.E. 2 require exporters to declare they will either not claim the total drawback shown under 'Drawback when Cenvat facility has not been availed' or will not claim drawback as rebate of duty on diesel procured or claimed under specified Central Excise Rules, and revise central excise and customs officer certification texts to verify manufacturer declarations on non availment of CENVAT credit, diesel procurement status, and whether exports fall under the Duty Drawback Scheme or certain Advance License obligations.

Recognition renewal for stock exchange subject to SEBI compliance conditions, permitting continued operation in securities markets for a fixed term.
Renewal of recognition is issued to Metropolitan Stock Exchange of India Limited for trading in contracts in securities under the Securities Contracts (Regulation) Act for a one-year term commencing in September, and is expressly subject to compliance with conditions that SEBI may prescribe or impose from time to time.

Goods and Services Tax Council constituted establishing Chairperson and member representation for tax governance and coordination.
Constitutes the Goods and Services Tax Council by presidential order under the Constitution, prescribing core membership: the Union Finance Minister as Chairperson, the Union Minister of State in charge of Revenue or Finance as a member, and, for each State, the minister in charge of Finance or Taxation or a nominated minister as member; thereby establishing the institutional forum for intergovernmental consultation and coordination on GST policy and administration.

Rescission of tax notification nullifies the earlier instrument and treats it as never issued, denying related tax benefits.
The Central Government, invoking powers under section 35 read with rules 5C and 5E, issued Notification No. 82/2016 rescinding Notification No. 4/2010 and withdrawing its legal effect for tax benefits under the Income tax Act and other laws; the rescission is declared retrospective to 1 April 2007 and deems the earlier notification never to have been issued for any tax benefits.

Exchange rate determination for customs conversions set effective mid-September establishes official import and export currency rates.
The Central Board of Excise and Customs, exercising powers under section 14 of the Customs Act, 1962, determines with effect from 16th September, 2016 the rate of exchange for each foreign currency specified in the annexed Schedules I and II for purposes relating to imported and export goods; Schedule I provides per unit rates with separate figures for imported and export goods, while Schedule II provides rates per one hundred units, and the notification supersedes Notification No.119/2016-CUSTOMS (N.T.).