Delegation of powers under foreign trade law: specified officers authorised to issue import/export permissions subject to assigned limits.
Delegation of powers under the Foreign Trade (Development and Regulation) Act, 1992 authorises specified officers to exercise powers under Section 13 read with Section 11, with designated officers assigned limits on the value of goods, services or technology covered by authorisations, registration certificates or permits; certain officer roles are authorised without limit for specified categories of units, and the notification supersedes earlier related notifications.

Export entitlement calculation revised: incremental growth must be measured per IEC and specified export categories are excluded.
A new proviso requires computation of export performance and entitlement under paragraphs 3.14.4 or 3.14.5 of the Foreign Trade Policy to be based on incremental growth for each exporter (IEC holder) without combining group company exports or transferring performance between IECs, measured in freely convertible currency to designated markets. A specified list of export categories is excluded from calculation and entitlement, including imports/trans-shipment, SEZ/EOU/EHTP/STPI/BTP/FTWZ-origin exports, deemed exports, service and third-party exports, precious metals and stones, ores, cereals, sugar, crude petroleum products, milk products, exports on another's behalf, supplies to SEZ units, items requiring export authorization (except SCOMET), meat products, exports to certain jurisdictions, and SEZ/EOU/etc. products exported through DTA units.

Issue and Listing of Non-Convertible Redeemable Preference Shares: regulatory framework established governing issuance, listing and compliance requirements.
SEBI, exercising powers under sub-section (1) of Section 30 of the SEBI Act, 1992, notified Regulations establishing a regulatory framework for the issue, conditions of issuance, and listing of non-convertible redeemable preference shares, prescribing compliance obligations and procedural requirements for market participants and stock exchange admission.

Tribunal remuneration aligned with judicial and Group A pay scales, with pension offsets and provident fund provisions.
Amendments replace rules 4-6 to set the Presiding Officer's salary at the level admissible to a serving Supreme Court or High Court Judge and Members' salary at Secretary to the Government of India level, with pay reduced by gross retirement benefits received. Service in the Tribunal by judges or pensionable government officers counts for pension under their parent service rules. Presiding Officer and Members fall under the General Provident Fund (Central Services) Rules, 1960 or are entitled to a Contributory Provident Fund. Travelling and related allowances are aligned to judicial scales for the Presiding Officer and Group A officer scales for Members.

Exchange rate notification updates import and export conversion rates for specified foreign currencies, effective from 13 June 2013.
The notification substitutes specified entries in the prior customs exchange rate schedules by prescribing rupee conversion rates for Canadian Dollar, Euro, Pound Sterling, Swiss Franc (Schedule I) and Japanese Yen (Schedule II) to be used for valuation of imported goods and export goods, with distinct rates for imports and exports, effective from 13.06.2013.

Exchange of information enables cross-border tax inquiries and access to banking and ownership data under the treaty.
An agreement creates a framework for the exchange of information between India and Monaco to assist tax administration and enforcement, empowering competent authorities to request information foreseeably relevant to tax determination, collection and investigation, including bank records and beneficial ownership data, subject to territorial jurisdiction limits, confidentiality protections, specified request content requirements, grounds for declining assistance, and provisions for implementation legislation, cost sharing and mutual agreement procedures.

Authorized laboratory additions expand approved certification network for cut and polished diamonds, enabling export for grading and re import.
The amendment adds two International Gemological Institute offices to the list of authorized laboratories for certification/grading, thereby expanding the approved entities whose grading reports permit export of cut and polished diamonds for certification and their subsequent re import under the Foreign Trade Policy.

Special Economic Zone designation for IT/ITES confirmed, Approval Committee constituted and customs depot treatment applied.
Notification designates a sector-specific Special Economic Zone for information technology and IT-enabled services at Airoli and Dighe proposed by M/s. Gigaplex Estate Private Limited, confirms fulfillment of statutory prerequisites and prior letter of approval, lists the surveyed land parcels comprising the zone with total area, constitutes an Approval Committee with specified ex officio and nominated members including the Development Commissioner as Chairperson and a developer representative as special invitee, and declares the zone to be deemed an Inland Container Depot under the Customs Act from the date specified in the notification.

Electronic filing of audit reports required; affected taxpayers must submit returns electronically in prescribed manner.
Rule 12 is amended to add an additional prescribed ITR form and to require that assessees obligated to furnish certain audit reports under specified tax provisions must submit those audit reports electronically. Taxpayers claiming cross-border relief or related deductions must file returns in the manner specified in the rules, and any person required to furnish the specified audit report electronically must also file their return in the applicable ITR form by the prescribed electronic or specified methods. Appendix-II is updated to substitute the listed ITR forms.

Tax classification of sunglasses: treated as unspecified goods and taxable under the general VAT provision, applied retrospectively.
Sunglasses are distinguished from spectacles and are not covered by entry no. 115 of Schedule III of the DVAT Act; consequently sunglasses are treated as unspecified goods taxable under the general provision of the Act, and this clarification is declared to have retrospective effect from the commencement of the DVAT Act and Rules.

Sanitary import permit requirement imposed for all live stock products, requiring Department of Animal Husbandry clearance.
Amendments require a health certificate from an official veterinarian or authorized exporter veterinarian at customs; importers of horses to furnish age, sex, breed and purpose to DGFT; bovine embryos to comply with Department of Animal Husbandry guidelines; and a sanitary import permit issued by the Department of Animal Husbandry under Section 3A of the Live stock Importation Act is required for live stock products, including items under ITC (HS) code 2309, with relevant imports also subject to Notification S.O. 794(E).

Transfer pricing: specified domestic transactions now captured and subject to documentation and reporting obligations.
The amendments extend transfer pricing rules to include specified domestic transactions alongside international transactions, amend Rule 10A to define "associated enterprise" and "enterprise" for specified domestic transaction purposes, revise rules 10AB, 10B, 10C, 10D and 10E to treat specified domestic transactions equivalently with international transactions for documentation, comparability and pricing obligations, and substitute Form No. 3CEB to require an accountant's report and an annexure detailing particulars and arm's length computations for both international and specified domestic transactions.

Notification under foreign trade policy: permits rupee payments for certain exports to Iran subject to a value addition requirement.
Iran is notified as eligible under Para 2.35(b) of the Foreign Trade Policy, permitting exports to Iran imported against payment in freely convertible currency to be settled in Indian Rupees, subject to at least 15% value addition.

Total foreign investment calculation clarified to aggregate direct and indirect holdings and regulate downstream investment compliance.
Guidelines aggregate direct foreign investment and indirect foreign investment to determine Total foreign investment in Indian companies, define ownership and control by resident or non-resident entities, limit indirect foreign investment for wholly owned downstream subsidiaries to the foreign investment in the holding company, require inclusion of portfolio and various foreign instruments in indirect investment computation, and mandate government approval, disclosures and compliance measures for establishment, transfer of ownership or control, and downstream investments in sectors with foreign investment caps.

Exchange Rate Determination: Customs conversion rates for import and export goods revised, with specified schedules and amendments.
Determination under section 14 of the Customs Act prescribes distinct rate of exchange entries for specified foreign currencies for computation of Indian currency equivalents for imported and export goods, attaches two schedules listing per currency conversion rates (including a schedule quoting per 100 units), and records substitutions and corrigenda affecting particular currency entries while superseding an earlier notification.

Cost Inflation Index updated to include new financial year index, affecting inflation-adjusted capital gains computation.
Amendment inserts a new entry in the Cost Inflation Index table, adding the index value for the specified financial year to be used for inflation adjustment in capital gains computations, made under the Explanation to the capital gains provision of the Income-tax Act and updating the prior notification's schedule.

Export proceeds realized in Indian rupees allowed for notified countries subject to value addition requirement.
Amendment to paragraph 2.35(b) permits exports of goods imported against payment in freely convertible currency to be realised in Indian rupees for countries notified by DGFT, provided exporters achieve at least 15% value addition; otherwise the general requirement of realisation in freely convertible currency continues to apply.

Exchange rate notification: amended foreign currency conversion rates prescribed for customs valuation and documentation, effective immediately.
Notification under section 14 of the Customs Act, 1962 substitutes specified entries in Schedule I and Schedule II of a prior notification to set revised rupee-equivalent exchange rates for certain foreign currencies, distinguishing rates for imported and exported goods; the revised rates take effect from the stated effective date for use in customs valuation and documentation.

Customs tariff amendment revises specified table entries in prior customs notification, altering applicable duty rates.
The Central Government, invoking its statutory amendment power under the Customs Act, amends the principal miscellaneous exemption notification by substituting revised duty rate entries in the Table: replacing column (5) entries for S. No. 116 and S. No. 318, substituting the column (4) entry for item (i) of S. No. 321, and replacing column (4) entries for S. No. 323 and S. No. 328, with the amendments published for incorporation into the Gazette.

Central Excise tariff amendment alters exemption table entries, changing column four rates for specified items.
The Central Government, exercising powers under the Central Excise Act, amends Notification No. 12/2012-Central Excise by substituting the entry in column (4) for item (i) at S. No. 189 and for item (i) at S. No. 191 in the Table, thereby changing the tariff-rate entry applicable to those listed exemption items.