Advance payment rule allows exporters to receive payments for shipments agreed beyond one year from receipt.
The amendment substitutes sub regulation (2) of Regulation 16 to provide that an exporter may receive advance payment where the export agreement itself duly provides for shipment of goods extending beyond the period of one year from the date of receipt of advance payment, notwithstanding the prior one year limitation.

Cross-currency option cost reduction structures permitted to hedge trade and external commercial borrowings with authorised dealers under amended rules.
The amendment inserts American Depository Receipts into Schedule I, removes a proviso restricting net inflow of premium for certain cost-effective risk reduction strategies, and adds permission for residents to enter into cross-currency option cost reduction structures (excluding the rupee) and foreign currency-rupee option cost reduction structures with authorised dealers to hedge exchange risk from trade transactions or external commercial borrowings, subject to Reserve Bank stipulated terms and conditions, with specified retrospective effect.

Joint holding by close relatives in resident foreign currency accounts on former-or-survivor basis, but operation restricted during primary holder's lifetime.
Resident individuals are permitted to include resident close relative(s) as a joint holder(s) in their Resident Foreign Currency account and EEFC account on 'former or survivor' basis; such resident close relative joint account holder shall not be eligible to operate the account during the life time of the resident account holder. For this purpose 'close relative' means relative as defined in Section 6 of the Companies Act, 1956. The amendment is made to Regulation 5 and the Schedule and is given retrospective effect with a clarification against adverse effect.

Rupee loans to non-resident Indians permitted from resident relatives under specified conditions and repayment channels.
The amendment adds definitions for Liberalised Remittance Scheme and relative and inserts Regulation 7A allowing a borrower's relative in India to repay a loan to a non-resident by crediting the borrower's loan account through the relative's bank account. Regulation 8B permits resident individuals to grant interest-free rupee loans to NRI relatives by crossed cheque/electronic transfer subject to a minimum one-year maturity, adherence to the lender's Liberalised Remittance Scheme limit, restricted end-uses excluding specified prohibited activities, credit to the borrower's NRO account, prohibition on outward remittance of the loan amount, and specified inward-remittance or account-debit repayment routes.

Gift in Rupees to NRI/PIO close relatives permitted, credited to NRO account within remittance scheme limits.
An individual resident may gift rupees to an NRI/PIO close relative by crossed cheque or electronic transfer, credited to the recipient's NRO account and treated as eligible credit, provided the gift is within the overall per financial year limit under the Liberalised Remittance Scheme and the donor ensures aggregate LRS remittances/credits do not exceed that limit; a resident may also grant a rupee loan to an NRI relative by crossed cheque or electronic transfer subject to compliance with the Borrowing and Lending in Rupees regulations.

Joint NRI accounts: amended rules permit joint holdings with resident close relatives and rupee receipt provisions for NRIs.
The regulations amend Schedule 1 to permit joint accounts for two or more non resident individuals (all being of Indian nationality or origin), allow joint accounts between non residents and residents including resident close relatives on a 'former or survivor' basis with resident close relatives authorised to operate as Power of Attorney holders during the NRI's lifetime, and define 'close relative' by reference to the Companies Act. Schedule 3 is amended to insert clauses permitting rupee amounts credited to NRI accounts subject to compliance with rules on receipts/payments with persons resident outside India and provisions on borrowing and lending in rupees.

Amendment to Cost and Works Accountants rules removes 'and Works' from specified provisions, clarifying rule terminology.
Amendment removes the phrase and Works from specified provisions of the 2007 Rules-sub rule (1) of Rule 2 clause (f), Rule 4 sub rule (2), and FORM I entry against serial number 1-effecting a textual narrowing of terminology without altering investigative procedures; it takes effect on publication in the Official Gazette.

Procedure amendment for Quality Review Board removes specified wording in rule text, effective on Gazette publication.
The 2012 amendment deletes the words "and Works" from clause (d) of rule 2 of the principal Rules governing the Procedure of Meeting of Quality Review Board and Terms and Conditions of Services and Allowances of the Chairperson and Members, and comes into force on publication in the Official Gazette.

Appointment under Section 22A: two members substituted into the Ministry notification, effective on Gazette publication.
Amendment substitutes serial entries (6) and (7) of the prior notification S.O. 789(E) to record the appointment of Shri A.N. Raman and Shri Brij Mohan Sharma as Members, each identified as appointed under the provision relating to cost and works accountancy; the amendment takes effect upon publication in the Official Gazette and is issued under the governmental power cited in the notification with the stated file reference.

Anti-dumping duty on resin-bonded wood boards imposed; specified exporters face per-cubic-metre dollar rates and temporary application.
Anti-dumping duty is imposed on resin-bonded wood or ligneous fibre boards below 6 mm thickness (excluding specified board types) originating in or exported from China PR, Indonesia, Malaysia and Sri Lanka, following findings of dumping, material injury and causation. Duties are set as US dollar amounts per cubic metre varying by country and by named producers/exporters as listed in the duty table. Liability exclusions, a limited effective period from Gazette publication, payment in Indian currency, and an exchange rate determination rule for billing are specified.

Revised eForms 23AC and 23ACA require mandatory company identification, detailed financial schedules, attachments, and digital verification.
The notification substitutes Forms 23AC and 23ACA with revised eForms effective 30 September 2012, prescribing mandatory data entry, presentation in absolute rupees, identification and signatory details (DIN/PAN), Schedule VI applicability, detailed balance sheet and profit-and-loss schedules including Revised Schedule VI disclosures where applicable, auditor and CARO-related particulars, attachments such as authenticated financial statements and subsidiary statements, verification by authorised board resolution and professional certification, and digital filing with the Registrar.

Exchange rate determination for customs: conversion rates set for specified foreign currencies for import and export transactions.
Determination of conversion rates for specified foreign currencies for customs purposes, prescribing separate rupee equivalents for imports and exports in two annexed schedules, effective from the stated operative date for application to customs transactions; corrigenda correct certain entries for the Kenya Shilling.

Investment eligibility expanded to include debt instruments of RBI registered infrastructure finance companies, effective on publication.
The Income-tax (13th Amendment) Rules, 2012 add clause (viii) to Rule 17C of the Income-tax Rules, 1962 to permit investment in debt instruments issued by infrastructure finance companies registered with the Reserve Bank of India; the amendment is made under statutory rulemaking power and comes into force upon publication in the Official Gazette.

Anti-dumping duty extension preserves duty on paracetamol imports pending continuation review, keeping the measure in force.
The Central Government amended Notification No.99/2007-Customs to extend the validity of the anti-dumping duty on paracetamol imports from the People's Republic of China for one additional year, inserting a clause that the notification shall remain in force up to and inclusive of the extended date unless revoked earlier, pending completion of the continuation review requested by the designated authority.

Customs amendment clarifies exemption by replacing PDS subsidy reference with supply by national oil companies to households.
Amendment to Notification No.12/2012-Customs substitutes the prior reference to subsidised supply under the public distribution system and a specified LPG/kerosene subsidy scheme with wording specifying supply by Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited or Bharat Petroleum Corporation Limited for household domestic consumers, thereby clarifying the qualifying suppliers for the tariff entry.

Substitution of beneficiary designation: amendment names oil corporations as the specified entities for the LPG/kerosene excise exemption.
Amendment to a central excise notification replaces the prior reference to subsidised distribution under the public distribution system and a named subsidy scheme with an explicit designation of Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited as the named entities in the exemption entry for Sl. No. 81, effectuating a textual substitution without creating new exemption categories.

Appointment of Common Adjudicating Authority: Customs show cause notice reassigned for adjudication under notification powers.
The Board, invoking powers under Customs (Non Tariff) notifications issued under section 4(1) of the Customs Act, 1962, assigns the Show Cause Notice issued by the Additional Director General, Directorate of Revenue Intelligence, in the case of M/s Asian Hotels Ltd., Hyatt Regency, New Delhi, to the Commissioner of Central Excise (Adjudication), New Custom House, New Delhi, as the Common Adjudicating Authority for adjudication, with copies forwarded to the concerned DRI and customs offices.

Mandatory e-payment of customs duty required for specified importers, including accredited clients and high-value bills.
The Central Government mandates electronic payment of customs duty for specified classes of importers: importers registered under the Accredited Clients Programme and importers who pay customs duty of one lakh rupees or more per bill of entry, creating an electronic payment compliance obligation for those classes.

Customs exemption for maize bran: amendment adds duty-free tariff classification under existing notification.
Amendment inserts a new tariff entry for maize bran (2302 10 10) into Notification No. 12/2012-Customs, declaring maize bran Nil basic customs duty under powers conferred by section 25(1) of the Customs Act, 1962 and publishing the change as Notification No. 54/2012-Customs.

Tax residency certification: prescribed Forms 10FA/10FB and verification requirements for treaty relief take effect, defining documentary and AO procedures.
Rule 21AB prescribes the form and content of certificates of residence for claiming relief under sections 90 and 90A: foreign governments must verify and provide specified particulars (name, status, nationality/incorporation, tax identification or unique identifier, tax residential status, applicable period and address). Indian residents must apply to the Assessing Officer in Form No. 10FA, who may issue a residence certificate in Form No. 10FB containing name, status, PAN, address, validity period and the AO's identification and seal.