Share certificate execution updated: signatures required under seal if any, otherwise two directors or director and Company Secretary.
Amendment prescribes that share certificates issued under the seal, if any, must be so affixed and signed; if no common seal exists, certificates shall be signed by two directors or by a director and the Company Secretary where appointed; where board composition permits, one signing director should not be a managing or whole-time director; for One Person Companies, certificates issued under the seal, if any, must be affixed in the presence of and signed by one director or an authorised person and the Company Secretary or other authorised person, and if no seal exists, by the persons in whose presence the seal would be affixed.

Dividend declaration restriction removed, allowing companies to declare dividend without setting off past losses and unprovided depreciation.
The Second Amendment Rules, 2015 omit sub rule (5) of rule 3 of the Companies (Declaration and Payment of Dividend) Rules, 2014, removing the requirement that carried forward losses and depreciation not provided in previous years be set off against current year profit before a company may declare dividend, thereby eliminating that precondition for dividend declaration.

Tariff values fixed for specified imported commodities, updating unit values used in customs valuation under statutory powers.
Fixes tariff values by substituting TABLE-1, TABLE-2 and TABLE-3 in Notification No. 36/2001-Customs (N.T.) under section 14(2) of the Customs Act, 1962, listing revised unit tariff values for specified tariff items including palm oils, palmolein, crude soya bean oil, brass scrap, poppy seeds, gold, silver and areca nuts to be used for customs valuation.

Anti-dumping duty on electronic calculators from China imposed to counter dumped imports and protect the domestic industry.
Definitive anti-dumping duty imposed on electronic calculators from the People's Republic of China after a finding of dumping and material injury; producer- and exporter-specific per-piece rates in US dollars are prescribed, with exclusions for printing, graphing and programmable calculators. Duties are payable in Indian currency using government-specified exchange rates and are effective for five years from publication unless earlier revoked, amended or superseded.

Service of notice expanded to include fax, email, courier, speed post and newspaper publication in adjudication procedure.
Amendment to rule 7 adds fax, electronic mail, courier and speed post with acknowledgement due as modes of service of notice, requires faxed notices to note transmission and page count for annexures, mandates digital signature for electronic mail and rules that bounced emails do not constitute valid service, and permits newspaper publication when notices cannot be affixed on the outer door, requiring one nationwide English daily and one widely circulated regional language paper.

Customs notification amendment: substitution of project designation STPP with TPP in Annexure import exemption entry.
The Central Government amends Notification No.12/2012-Customs by substituting the letters "STPP" with "TPP" in the Annexure, List 32A, item No. 48, thereby altering the project designation in the import exemption entry pursuant to the Government's authority under the Customs Act.

Project designation change in central excise notification substitutes STPP with TPP, altering the Annexure entry.
Amendment to notification No. 12/2012-Central Excise substitutes the letters "STPP" with "TPP" in List 11, item 48 of the Annexure, altering the recorded project designation; the change is made under sub-section (1) of section 5A of the Central Excise Act, 1944 as a further modification to the principal notification published on 17 March 2012.

Anti-dumping duty on Purified Terephthalic Acid imposed on imports from Korea and Thailand to address dumped imports.
Definitive anti-dumping duty is imposed on Purified Terephthalic Acid (including MTA and QTA) originating in or exported from Korea RP and Thailand, following exclusion of China and the EU on de minimis grounds and findings of dumping and material injury. Duty rates are set in US Dollar per metric tonne by country of origin/export and by named producers/exporters and for other combinations. The duty is leviable for five years from the provisional duty date and is payable in Indian currency, with exchange conversion as per notified rates and bill of entry date.

Foreign exchange drawal limits permit resident individuals higher annual access for specified capital account transactions, subject to remittance restrictions.
Resident individuals may draw foreign exchange through an authorised person up to USD 250,000 per financial year for specified capital account transactions, subject to applicable foreign exchange law and regulatory directions. Relevant current account drawals are included within this annual limit. Where a capital account drawal exceeds the annual limit, the transaction-specific regulatory limit applies to the excess. The permitted foreign exchange cannot be used directly or indirectly for remittances to Financial Action Task Force-notified non-cooperative countries and territories.

Port inclusion expands notified ports to include Mundra alongside Visakhapatnam, altering Central Excise notification effects.
Amendment inserts Mundra as an additional notified port alongside Visakhapatnam in sub paragraph (vii)(a) of Notification No. 44/2001 CE (N.T.), effected under the Central Excise Rules and made operative from the date of publication in the Official Gazette.

Tax deduction under section 35AC: notified institutions' approved projects eligible for specified deductions for three financial years.
The Central Government, on the National Committee's recommendation, notifies specified institutions and approves listed projects as eligible for deduction under section 35AC, recording the estimated project costs and the maximum amount allowable as a deduction. A Table of twenty-two entries details project descriptions and estimated costs. The notification fixes the period of approval as three financial years commencing with 2015-16, during which the specified deduction treatment applies to the approved projects.

Prior approval for specified current account transactions now required; individuals limited by liberalised remittance scheme and corporates need regulatory approval.
The amendment replaces rule 5 to require prior regulatory approval for foreign exchange drawals listed in a new Schedule III, except when paid from Resident Foreign Currency Accounts. Schedule III permits individuals to remit under the Liberalised Remittance Scheme for specified current account purposes, with excess remittances for certain purposes requiring prior regulatory approval and reductions of the annual limit by amounts already remitted. It also lists categories of remittances by non individuals that mandate prior regulatory approval and aligns procedural requirements with the Liberalised Remittance Scheme.

Appointment of Director General (Safeguard) under Customs Tariff safeguard rules, superseding prior notification and formalising administrative authority.
Pursuant to sub rule (1) of rule 3 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government appoints Shri Ram Tirath as Director General (Safeguard) for the purposes of those rules, by notification that supersedes the earlier Government of India notification No. 115/2013 Customs (N.T.), dated 27th November, 2013, and is published in the Gazette of India, Extraordinary.

Duty exemption conditions amended to tighten proof of use and destruction requirements for goods under Letter of Permission.
Amendment tightens exemptions under the LoP by requiring customs officer satisfaction that capital goods were installed or used within the unit during LoP validity and that non-capital goods were used in production, packaging for export, or cleared for home consumption within LoP validity. Duty is not leviable where specified goods are destroyed within the unit after intimation or outside with Customs permission, subject to officer satisfaction; units manufacturing and exporting precious metals and stones are excluded. "Letter of Permission (LoP)" is defined as in Chapter 6 of the Foreign Trade Policy 2015-20.

Letter of Permission conditions clarified: proof of authorised use and customs-compliant destruction rules now required.
The notification amends LoP-related conditions to require proof that capital goods were installed or used within the user industry and that other goods were used for export production or cleared for home consumption within the LoP validity. It revises destruction rules to allow destruction after Customs intimation or permission, subjects remnants cleared into the Domestic Tariff Area to duty, excludes certain precious items from this provision, and inserts the LoP definition from the Foreign Trade Policy.

Exchange of information expands treaty obligations, enabling broader international tax information sharing and cooperation under the amended protocol.
The Protocol replaces Article 26 with an expanded Exchange of Information clause obliging competent authorities to exchange foreseeably relevant tax information (including documents), subject to confidentiality and specified limitations, clarifies that limitations do not permit refusal solely for lack of domestic interest or because information is held by financial institutions or fiduciaries, and adds that the 2010 wording covers tax examinations abroad; the Protocol enters into force the month following mutual notification and is to be given effect in India from that date.

Additional duty on waters removed from specified notification following increase in duty rate, altering the exemption framework.
Amends notification No. 6/2005-Central Excise by omitting S. No. 1A and the entries relating thereto in the Table, under powers of section 5A of the Central Excise Act, 1944 read with section 85 of the Finance Act, 2005. The omitted entry addressed additional duty on waters, including mineral and aerated waters containing added sugar, sweetening matter or flavouring, and the deletion follows an increase in the applicable duty rate.

Anti-dumping duty on USB flash drives imposed to counter dumped imports and address material injury to domestic industry.
Imposition of definitive anti-dumping duty on imports of USB Flash Drives from the People's Republic of China and Chinese Taipei, covering specified tariff headings and alternative market names, with duty rates stated per piece in US dollars for origin/export combinations. The duty follows findings that exports were made below normal value causing material injury attributable to dumped imports; it is imposed under section 9A and relevant rules, applies for five years from Gazette publication, is payable in Indian currency, and uses Government-specified exchange rates with the bill-of-entry date as the relevant date.

Anti-dumping duty on cast aluminium alloy wheels imposed to counter dumped imports and protect domestic industry, with origin-specific rates.
Imposition of a definitive anti-dumping duty on Cast Aluminium Alloy Wheels (12-24 inches) originating in or exported from the People's Republic of China, Korea RP and Thailand, applied by producer- and exporter-specific classifications with prescribed per-kilogram duty rates in US dollars, including listed producers/exporters and residual categories. The duty converts provisional measures into definitive measures under the Customs Tariff Act and related rules, is payable in Indian currency, and is levied for five years from 11 April 2014; exchange rate for conversion is the government-specified rate on the bill-of-entry date.

Anti-dumping duty on pentaerythritol to counter dumped imports, imposing scheduled duties and five-year protection.
Imposes a definitive anti-dumping duty on pentaerythritol (heading 2905 42) originating in or exported from Russia for five years, following findings of dumping, material injury to the domestic industry, and causation by dumped imports. The notification prescribes duty rates per metric tonne in US dollars in a table covering direct exports from Russia, exports via third countries, and goods originating elsewhere but exported from Russia; duties are payable in Indian currency and calculated using the exchange rate applicable on bill of entry presentation.