National Company Law Tribunal Rules set procedural, filing, evidence and fee requirements for company law proceedings.
The rules create a comprehensive procedural code for the National Company Law Tribunal, defining parties, authorised representatives, pleadings, filing formats and required annexures; allocating powers and duties to the President, Registrar and Secretary; and prescribing processes for service, evidence, admissions, interlocutory and special statutory applications, class actions, fees, cause-lists, record retention and the pronouncement, certification and transmission of Tribunal orders.

Exchange of tax information strengthens cross border cooperation for tax administration while preserving confidentiality and legal safeguards.
The Agreement creates a framework for the exchange of information relating to taxes between India and Saint Kitts and Nevis, obliging competent authorities to provide foreseeably relevant information for tax administration and enforcement, subject to confidentiality, territorial and legal limits, procedural requirements for requests, and safeguards for protected communications and trade secrets.

Exchange Rate Determination establishes conversion rates for foreign currencies, governing valuation for imports and exports under customs law.
Determination under section 14 of the Customs Act fixes rupee equivalents for specified foreign currencies for customs valuation of imported and export goods, superseding the prior notification and applying the annexed Schedules I and II from the stated effective date while preserving actions taken before supersession.

Backward area notification: specific districts listed for application of specified Income tax Act provisions under central government notification.
Central Government notifies specified districts in Telangana, West Bengal and Bihar as backward areas for purposes of the first proviso to clause (iia) of sub section (1) of section 32 and sub section (1) of section 32AD of the Income tax Act, 1961, lists the individual districts statewise, and provides that the notification takes effect on publication in the Official Gazette.

Income Declaration Scheme amendment requires updated Form 1 with declarant details and revised filing reasons field.
The Central Board of Direct Taxes substituted serial numbers 1 and 2 in Form 1 of the Income Declaration Scheme Rules, 2016 to require declarant identification fields (name, office and residence addresses, contact details, email) and a filing status entry specifying original or revised; if revised, the original Form 1 receipt number and date and concise reasons for revision (not exceeding 100 words) must be furnished. The amendment is effective on publication in the Official Gazette.

Payment schedule for undisclosed income tax requires staged partial payments by specified statutory deadlines to cover tax, surcharge and penalty.
Amendment mandates a staggered payment schedule for tax, surcharge and penalty on undisclosed income: at least 25% by 30th November, 2016; at least 50% (reduced by prior payment) by 31st March, 2017; and the balance by 30th September, 2017, substituting the earlier clause in the notification S.O.1830(E).

Foreign airlines company compliance: submit parent consolidated financials, Indian receipts/payments statement and prescribed registration documents.
Deemed compliance with clause (a) of sub-section (1) of section 381 for a foreign airlines company with share capital requires filing with the Registrar: parent consolidated financial statements as submitted in the country of incorporation (with certified English translation if needed); a receipts and payments statement for Indian operations for the financial year, authenticated by a practicing Chartered Accountant in India or firm/LLP; and documents mandated by sub rule (2) of rule 4 of the Companies (Registration of Foreign Companies) Rules, 2014.

Convertible securities pricing may be fixed upfront or set near conversion based on registered valuer reports.
The amendment permits issuance of equity shares with differential rights only five years after remedying a default. Startups may issue sweat equity up to fifty percent of paid up capital and are exempted from specified eligibility conditions for five years from incorporation. Pricing of equity arising from convertible securities may be fixed either at offer based on a registered valuer's report or later (not earlier than thirty days before entitlement) based on a valuation within sixty days, with the company required to elect and disclose the method at the time of the offer. Debenture rules are amended to require charge security on company or related entities' assets, clarify movable property scope, use outstanding debenture value in certain calculations, and permit excess transfer to Debenture Redemption Reserve for premature redemption.

Tariff value fixation sets prescribed import valuation benchmarks for edible oils, metals and agricultural commodities.
Fixation of tariff values under section 14(2) of the Customs Act, 1962 by substituting TABLE 1, TABLE 2 and TABLE 3 in the principal notification to prescribe specific US dollar tariff values. The tables establish commodity specific valuation benchmarks: US dollars per metric tonne for edible oils (crude and RBD palm oil, palmolein, crude soybean oil), brass scrap, poppy seeds and areca nut, and US dollars per unit for gold (per ten grams) and silver (per kilogram), to be applied in customs valuation and related procedures.

Cost audit rules amended: strengthened appointment, reporting and filing requirements for cost auditors under Companies Act.
Amendments redefine the cost audit report to include signed reports with attachments and qualifications, replace sectoral tables to specify regulated and non regulated industries, add captive generation for captive consumption to scope, mandate pre appointment consent and a certificate from cost auditors confirming eligibility and disclosures, permit removal of auditors by board resolution after hearing, require board approval of cost statements before auditor submission, impose a timeline for auditors to forward signed reports to the board, and require companies to file the cost audit report and explanations on reservations in Form CRA 4 in XBRL format.

Common Adjudicating Authority appointed to centralise adjudication of specified customs show cause notices, reallocating adjudicatory responsibilities among designated officers.
The Central Board of Excise and Customs, invoking section 4(1) and section 5(1) of the Customs Act, appoints specified customs officers as Common Adjudicating Authority to exercise the powers and discharge duties of the original officers for named noticees and specified show cause notices. The notification lists each noticee, the show cause notice reference and date, the office originally answerable, and the officer now empowered to adjudicate those proceedings, thereby centralising adjudication for the enumerated matters.

Arm's length price deemed when transaction price falls within notified variation thresholds; stricter test for wholesale trading applies.
The Central Government notifies that for Assessment Year 2016 2017, where the variation between the arm's length price determined under section 92C and the actual transaction price does not exceed the notified thresholds, the actual transaction price shall be deemed to be the arm's length price; a stricter threshold applies to transactions meeting the wholesale trading definition, which requires purchase cost of finished goods to be eighty percent or more of total cost and average monthly closing inventory to be ten percent or less of sales.

Anti-dumping duty on MDF imports from Indonesia and Vietnam imposed with company-specific rates and fixed term.
Imposition of definitive anti-dumping duty on Plain Medium Density Fibre Board (MDF) of thickness six millimetres and above, excluding laminated boards, originating in or exported from Indonesia and Vietnam; duty rates are specified by producer and exporter in United States Dollar per cubic metre, payable in Indian currency; duties apply for a prescribed finite period subject to revocation or amendment; exchange rate for calculation is the rate notified by the Ministry of Finance with the relevant date being the bill of entry presentation.

Anti-dumping duty amendment substitutes the listed exporters in the notification, altering the roster of covered entities under the duty.
Amendment substitutes the entries in the Table against serial number 1, column (7) of Notification No.6/2016-Customs (ADD) with a new list of exporters and trading entities, thereby altering the operative list of entities covered by the original anti-dumping notification.

Definition of embroidered yarn clarifies scope of anti-dumping coverage, specifying manufacturing and finishing processes.
Amendment adds an explanatory item defining embroidered yarn or thread as yarn manufactured or hand-spun specifically for embroidery and needlework, a finished product wound on support ready for use, produced by processes including dying, reeling, twisting, hanking or core winding, finished product quality checking, grading and packing of raw yarn, thereby clarifying the scope of the anti-dumping notification.

Hazardous waste import prohibition now bars specified wastes under updated transboundary movement rules for import.
Para 8(B) of the ITC (HS) import policy is updated to state that imports of hazardous waste, including substances containing or contaminated with such wastes as specified in Schedule VI of the Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016, are 'Prohibited' for import and are subject to the provisions of Chapter III of those Rules, notwithstanding anything contained in the ITC (HS).

Concessional import rules now extend to service providers and broaden security and timing provisions.
The Rules are amended to apply mutatis mutandis to service providers, substituting manufacture-related terms with service-sector equivalents; "security" is added after "surety"; and the word "three" is replaced by "six" in the Rules, with the amendments taking effect on publication in the Official Gazette.

Special Economic Zone expansion notified: additional land included in IT/ITES SEZ at Noida under SEZ Act.
Central Government notification under the Special Economic Zones Act, 2005 and rule 8 of the Special Economic Zones Rules, 2006: on proposal of M/s. HCL Technologies Limited, an additional 1.326 hectares at Plot Number 2C, Noida is notified as part of the Information Technology/ITES sector-specific SEZ at Sector 126, Noida, thereby increasing the cumulative area of the SEZ.

Amendment under Section 28A updates committee membership by substituting five member entries; effective on Gazette publication.
Central Government amends G.S.R. 38(E) by substituting serial numbers (2)-(6) with new member entries: Rajat Sethi (Member); K. V. R. Murty, Joint Secretary, Ministry of Corporate Affairs (Member); Jayanta Jash, Chief General Manager, SEBI (Member); Vithayathil Kurian, Director General (Commercial I), Office of the C&AG (Member); and Mahendra Khandelwal, Additional Government Advocate, Department of Legal Affairs (Member). The amendment is effective from publication in the Official Gazette.

Tax deduction for notified projects: approved institutions may claim limited annual deductions subject to listed caps and exclusions.
Notification approves named institutions' projects as eligible for a tax deduction, listing each project's estimated cost and prescribing the maximum deductible amount for the specified period of approval (financial year 2016 17). The deduction is restricted to the amounts and projects expressly approved in the Table and applies only for the period noted. Funds received under Schedule VII of the companies' law and the Companies (CSR) Rules are excluded from eligibility for the exemption.