Coupon reset links special floating rate security interest to prior year's ten year government security yield, payable semi annually.
The notification fixes the annual interest rate for Postal Life Insurance Special Floating Rate Bonds, 2022 for financial year 2016-17 by reference to the daily average yield of ten year government securities in the preceding calendar year, with interest payable half yearly on September 30 and March 30.

Limited Liability Partnership conversion form requires specified firm and LLP particulars, certification, and incorporation attachments for registry notice.
The amendment substitutes Form 14 to be used for intimating the Registrar of Firms of conversion of a firm into a limited liability partnership; the form requires Part A firm registration details and Part B LLP particulars including LLPIN, name, date of incorporation, registered office address, contact information, mandatory fields, signature, DIN/DPIN, and attachments including the certificate of incorporation.

Tariff value fixation prescribes reference import values for specified commodities, guiding customs valuation and compliance.
The Central Board of Excise & Customs, under section 14(2) of the Customs Act, 1962, substitutes revised Tables in Notification No. 36/2001 Customs (N.T.) fixing unit tariff values for specified imports including edible oils, brass scrap, poppy seeds, areca nut, and unit values for gold and silver where certain notification benefits apply, to serve as reference values for customs valuation and related regulatory purposes.

Appointment of Common Adjudicating Authority: officers designated to adjudicate specified customs show cause notices across jurisdictions.
Designation of specific officers as a common adjudicating authority for listed customs show cause notices: the notification maps each notice and noticee to the originally answerable customs officer and specifies the appointed officer or office now empowered to adjudicate that notice, consolidating adjudicatory responsibility across ports, commissionerates, and cargo complexes, with editorial notes recording subsequent substitutions.

Appointment of Common Adjudicating Authority to centralize adjudication of specified customs show cause notices.
The Central Board of Excise and Customs, invoking sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962, appoints specified officers to act as a Common Adjudicating Authority to exercise the powers and discharge the duties of the officers listed in the Table with respect to the adjudication of the show cause notices expressly identified by reference in that Table.

Common Adjudicating Authority appointment consolidates adjudication of show cause notices, designating officers to exercise Customs Act powers.
The Central Board of Excise and Customs appoints specified officers as Common Adjudicating Authority to exercise powers and discharge duties under the Customs Act for adjudication of listed show cause notices, superseding earlier orders; the notification identifies noticees, prior adjudicating authorities, and the officers now designated to centralise adjudicatory responsibility.

Common Adjudicating Authority appointments designate officers to exercise adjudicatory powers under the Customs Act in listed show cause notices.
Appointment of officers as Common Adjudicating Authority under sections 4(1) and 5(1) of the Customs Act to exercise powers and discharge duties in respect of the specified show cause notices listed in the table, thereby reallocating adjudicatory responsibility from the original adjudicating authorities to the named officers.

Appointment of Common Adjudicating Authority under Customs Act centralizes adjudication of specified show cause notices across listed cases.
The Central Board of Excise and Customs, invoking sub section (1) of section 4 and sub section (1) of section 5 of the Customs Act, appoints the officers named in the notification to act as Common Adjudicating Authority or proper officers to exercise powers and discharge duties for adjudication of the specified show cause notices listed in the table, identifying noticees, show cause notice references, answerable authorities, and the designated adjudicating officers for each matter.

Point of Taxation clarified for government services to businesses: earlier of invoice due date or receipt of payment.
For services provided by the Government or a local authority to any business entity, the point of taxation is the earlier of: the date payment becomes due as specified in the invoice, bill, challan or other demand document issued by the Government or local authority; or the date payment is made. This amendment is inserted as an additional proviso to rule 7 of the Point of Taxation Rules, 2011 and takes effect on publication in the Official Gazette.

Cenvat credit for assignment of rights to use resources spread over multi year period; reassignment permits credit up to tax payable.
In rule 4(7) CENVAT credit for service tax on one time charges for assignment of the right to use any natural resource by Government, local authority or any person must be spread evenly over a three year period, with any balance credit on further assignment allowed in the same financial year only to the extent of service tax payable on the consideration for that reassignment. Rule 6(1) Explanation 3 adds that exemption-related activity is eligible only if it has used inputs or input services.

Exclusion for deferred-payment government services: interest-based deferrals to business entities fall outside the valuation clause.
Amendment to rule 6(2)(iv) of the Service Tax (Determination of Value) Rules, 2006 excludes services provided by the Government or a local authority to a business entity where payment is deferred on payment of interest or any other consideration; such deferred-payment arrangements fall outside the application of that clause.

Service tax exemptions for Government and local authority services expand to cover specified public-document issuance, low value supplies, and natural resource assignments.
Amendment inserts exemptions from Service Tax for services "by Government, a local authority or" others and adds entries exempting: services by Government/local authority to another Government/local authority (with specified exclusions); issuance of passports, visas, driving licences and birth/death certificates; services below a specified gross charge (with an annual limit for continuous supplies); toleration of contract non-performance with fines/liquidated damages; statutory registration and safety testing/certification; assignment of natural resource use to individual farmers; Panchayat-related functions; pre-existing assignments of natural resource use (limited to one-time charges); telecom/spectrum permissions for financial year 2015-16 on payment of fees; and deputing officers for import-export duties on merchant overtime charges.

Anti-dumping duty on Normal Butanol imposed on imports from specified foreign origins for a five year term.
The Central Government imposes definitive anti-dumping duty on Normal Butanol (tariff item 2905 13 00) originating in or exported from the European Union, Malaysia, Singapore, South Africa and the United States, based on the designated authority's finding of export prices below normal value and resulting material injury; specified per metric tonne duty rates in US dollars are set for named producer-exporter combinations and for other imports, payment is to be made in Indian currency using the Government specified exchange rate, and the duty is effective for a five year term from Gazette publication.

Foreign investment control broadened; downstream notifications and share swap valuation conditions imposed for regulatory compliance.
The notification amends FEMA definitions and procedures: control is broadened to include appointment and management control including for LLPs; all forms of overseas securities and convertible instruments are treated as foreign investment; downstream investments must be notified to SIA, DIPP and FIPB within thirty days even if shares are not allotted; share-swap entries into automatic route sectors are allowed subject to valuation by a SEBI-registered Merchant Banker or an appropriately registered foreign Investment Banker; sectoral FDI conditions for defence, single brand retail and duty free shops are revised and FIIs/FPIs in CICs cannot seek board representation based on shareholding.

Delhi VAT rules now require invoice- or dealer-wise quarterly reporting with item descriptions, item codes and buyer identifiers.
The amendment requires transmission of quarter-wise invoice-level data in Forms DVAT-30 and DVAT-31 or quarter-wise dealer-wise summaries in Annexures 2A and 2B; permits consolidated rows for unregistered dealers while requiring PAN where obtained and GEID for government entities; mandates reporting of sales to listed Embassies either invoice-wise or entity-wise; and inserts columns for Description of goods/items and Goods Item code and revises buyer-identification titles to include TIN/PAN/GEID.

E-commerce definition clarified for MEIS exports requiring website-hosted goods, courier/postal dispatch and international card payments.
The notification inserts paragraph 9.17A defining e-commerce for MEIS as the export of goods hosted on an internet-accessible website to a purchaser, with dispatch by courier or postal mode under MEIS and payment effected through international credit/debit cards in accordance with the Reserve Bank circular.

Special Economic Zone designation at Gopalpur establishes the zone, creates an Approval Committee and confers inland container depot status.
Notification under the Special Economic Zones Act and Rules designates 500.15 hectares at Gopalpur, Ganjam, Odisha, by reference to a detailed schedule of survey numbers as a Multi Product Special Economic Zone. It constitutes an Approval Committee with specified ex officio members and nominees for administration of the SEZ. The notification further declares the SEZ area to be deemed an Inland Container Depot under the Customs Act effective from the stated date.

Export certification requirement for betel leaves: EU-bound shipments require registration with designated competent authority before shipment.
Exports of betel leaves (HS 14049040) are classified as free in Schedule 2 of the ITC (HS) Classification, but export to the European Union is permitted only if the exporter is registered with APEDA, the designated competent authority, making registration a precondition to EU export eligibility under the Foreign Trade Policy.

Prohibition on tendering for reserved audit services: members must not bid unless tender prescribes minimum fee or allows others.
Members in practice are prohibited from responding to tenders for services exclusively reserved for chartered accountants, such as audit and attestation, except where the tender prescribes a minimum fee or where the services are open to other professionals; the guideline takes immediate effect and imposes an immediate compliance obligation.

Exchange Rate Determination: specified foreign currency rates set for import and export valuation under the Customs Act.
Determination of exchange rates for conversion between specified foreign currencies and Indian rupees is declared effective 08 April 2016, superseding the prior CBEC notification; Schedule I prescribes per unit rupee equivalents with separate import and export columns, and Schedule II prescribes rates per 100 units for listed currencies, for use in valuation of imported and exported goods under the Customs Act.