Customs tariff concessions for imports from Pakistan and Sri Lanka under SAFTA require importer proof of origin.
The Central Government exempts listed goods imported from Pakistan and Sri Lanka from customs duty in excess of the concessional rates specified in the annexed Table, subject to the importer proving origin under the Rules of Determination of Origin of Goods under SAFTA; goods specified in the ANNEXURE are excluded. The notification is effective from 1 January 2012 and supersedes earlier notifications cited therein.

Customs tariff amendment: substituted tariff table revises HSN classifications and imposes revised duty rates including targeted reductions.
Substitutes the tariff Table in Notification No.69/2011-Customs to revise HSN classifications and import duty rates across numerous tariff headings, including targeted deeper duty reductions for tariff items 8408, 2020 and 870840; each listed heading is matched with the description "All goods" and an applicable rate. The amendment is issued under the customs enabling powers, published as an exemption notification amending the principal notification and takes effect from 1 January 2012.

Tariff reductions under India-Korea CEPA: revised customs tariff schedule replaces prior table, altering duties for specified HS codes.
Substitutes the Table in the principal customs notification to implement deeper duty reductions under the India-Korea CEPA and to effect HSN classification changes, replacing the prior schedule with a detailed list of tariff items and revised rates for the specified commodity codes; enacted under the Customs Act and effective from the commencement date specified in the notification.

HSN-based Tariff Amendments: substitution of tariff item table altering customs exemption coverage and operative classifications.
Amends Notification No.151/2009-Customs by substituting its Table with a revised Table of specified HSN chapters, headings and tariff items, largely recording scope as "All goods" with certain item-specific exceptions, thereby updating the tariff classification coverage of the principal notification under the powers of section 25(1) of the Customs Act, 1962.

Tariff classification changes update exemption notifications by substituting revised HSN entries and aligning tariff references.
The notification substitutes revised HSN/tariff headings into the tables and annexure of six specified customs exemption notifications by replacing designated column and serial entries with updated tariff codes. These amendments are textual and confined to replacing earlier tariff references with the substituted HSN entries, without changing exemption eligibility, and the changes take effect from the stated commencement date.

Customs tariff amendment substitutes specified commodity classifications in an exemption notification, altering covered tariff codes.
The Central Government, under section 25(1) of the Customs Act, 1962, amends Notification No. 21/2002-Customs by substituting specified tariff classification codes against several table serial numbers, thereby revising which commodity codes are covered by the exemption notification; the amendments take effect from the stated commencement date.

Long-term foreign currency monetary items option allows capitalization or amortization of exchange differences under amended AS 11.
The amendment inserts an option in AS 11 allowing exchange differences on long term foreign currency monetary items to be (a) added to or deducted from the cost of a depreciable capital asset and depreciated over its remaining life, or (b) accumulated in a Foreign Currency Monetary Item Translation Difference Account and amortized over the balance period of the related long-term asset or liability; the option applies to items with a term of twelve months or more, is irrevocable when exercised for an enterprise, and requires disclosure of the option and amounts remaining to be amortized.

Accounting Standard AS 11 applicability extended to cover accounting periods commencing 7th December 2006 through 31st March 2020.
The Companies (Accounting Standards) Amendment Rules, 2011 substitute paragraph 46 of Accounting Standard (AS) 11 to amend the terminal date of the specified accounting-period window, thereby extending the period during which the transitional provision in AS 11 regarding the effects of changes in foreign exchange rates applies; the amendment takes effect on publication in the Official Gazette.

Tariff exemption amendment substitutes the description of areca nut under a specified subheading and sets its commencement.
Amendment to a customs exemption notification substitutes the tariff description for S. No. 4 in the Table so that column (2) now reads "Areca nut falling under subheading 0802 80," thereby altering the classificatory description that determines the scope of the exemption; the amendment is made under statutory powers and is effective from 1st January, 2012.

Customs tariff amendment: substitution of specified tariff codes for certain entries, changing headings and coming into force early next year.
Amends the miscellaneous exemption notification by substituting the column (2) entry for S.No.47 with "0801" and for S.No.53 with "1701 13 10, 1701 14 10", changing the tariff classifications; the amendment takes effect on 1 January 2012 and is recorded in the Gazette as a formal substitution in the principal notification.

Tariff classification amendments: customs notifications amended to substitute tariff codes affecting tariff entries, effective from start of next year.
Amendments substitute specified tariff classification entries in the Tables of Notifications Nos. 25/1999, 22/2007 and 27/2011 by replacing listed tariff headings with newly specified codes under the authority of section 25(1) of the Customs Act, 1962, and direct that these substitutions take effect from the commencement date stated in the notification.

Tariff concessions schedule revised under Indo Chile agreement; specified tariff lines now attract set percentage concessions.
Amendment to Notification No. 101/2007 Customs substituting a new Table that lists specific tariff headings, sub headings or items and prescribes the extent of tariff concessions as percentages of the applied rate of duty for each listed item, with varying concession rates and occasional product exceptions, thereby defining the operative schedule of preferential tariff entitlements under the Indo Chile arrangement.

Extension of service tax filing deadline granted to address electronic filing difficulties for the half yearly return.
The Central Board of Excise and Customs, invoking Rule 7(4) of the Service Tax Rules read with the relevant notification, extends the submission deadline for the half yearly service tax return for April-September 2011 from 26 December 2011 to 6 January 2012 to address problems in electronic filing.

E-payment requirement mandates electronic payment of DVAT liabilities through specified banks with CIN proof accepted and bank confirmation required.
Compulsory electronic payment of tax, interest, penalty and other amounts under the Delhi Value Added Tax Act is mandated for registered dealers and TAN holders through specified banks' e payment portals; Part 'C' of the challan with the unique Challan Identification Number printed on internet payment will serve as proof with returns, and dealers must obtain signed and stamped Part 'D' from the bank, with credits effected after Reserve Bank of India confirmation.

Deemed export benefits: non-mega power projects eligible only for Advance Authorisation benefits; mega projects retain broader eligibility.
Paragraph 8.4.4(iv) of the FTP is amended so suppliers to non-mega power projects are entitled to deemed export benefits only under paragraph 8.3(a) (Advance Authorisation/Advance Authorisation for annual requirement/DFIA). Supply of capital goods and spares up to 10% FOR value to power projects is eligible for deemed export benefits where ICB was followed at IPP/EPC stage; ICB is not mandatory for mega projects if power is tied up or awarded through tariff based competitive bidding. Deemed export benefits also apply to renovation, modernization and eligible mega project setup/expansion subject to Customs Notification thresholds.

Exchange rate determination for specified foreign currencies governs conversion for import and export customs valuation and compliance.
Determination of rate of exchange for conversion between specified foreign currencies and Indian rupees is prescribed for the purpose of section 14 of the Customs Act, 1962, effective 1 January 2012, superseding the prior notification, and annexing Schedule I (per unit rupee equivalents for specified currencies with separate import and export rates) and Schedule II (rupee equivalents per 100 units for Japanese yen) to govern customs conversion for imported and export goods.

Customs exemption amendment updates tariff entries and adds an Unrecorded Compact Disc category, effective from January.
Amendment to the Customs exemption notification No.85/2004 substitutes tariff entries: S. No.6 now "100111 and 100119", S. No.7 now "100191 and 100199", S. No.73 now "85234120 to 85234150 and 85234950 to 85234970"; replaces S. No.73A with tariff 85234110 "Unrecorded Compact Disc (audio), compact disc readable"; omits S. No.73B; changes effective from 1 January 2012.

Double taxation amendment strengthens exchange of information and limits source taxation, refining rules for transport enterprises and conduit abuse.
The Protocol amends the bilateral tax Agreement by redefining international traffic, limiting taxation of enterprise profits to the State of residence except for amounts attributable to a permanent establishment in the other State, consolidating shipping and air transport profits to the residence State, restricting source taxation of interest and capital gains connected to international transport, and enhancing exchange of information through foreseeably relevant requests, confidentiality safeguards, procedural requirements to prevent fishing expeditions, enforceability of information from financial institutions, and preservation of taxpayers' procedural rights.

Exchange of tax information empowers cross-border assistance for tax administration and enforcement under mutual agreement procedures.
The Agreement creates a mechanism for the exchange of information between India and the Cayman Islands to assist tax administration and enforcement. Competent authorities must provide foreseeably relevant information, including bank and ownership records, subject to territorial control and limited exceptions for public entities where disproportionate difficulty arises. Requests must state identity, period, nature and tax purpose and follow prescribed procedural steps and timeframes. Confidentiality rules restrict use and onward disclosure; privileged communications and trade secrets are protected. Implementation, cost allocation, mutual agreement procedures and termination provisions are included.

Tax incentive eligibility extended for Charutar Arogya Mandal healthcare project; approved project scope and cost remain unchanged.
The Central Government confirms that Charutar Arogya Mandal's project for advanced cancer and cardiac treatment-Part A: comprehensive Cardiac Care Center; Part B: support for treatment of cancer patients-is an eligible project or scheme for the income-tax incentive, maintaining the previously approved project scope and cost unchanged, and extends the project's eligibility for a further multi-year period following the National Committee's recommendation that the project is being executed properly.