Auditor's report requirements: mandatory disclosure of specified asset, inventory, loan, control, statutory dues, and fraud matters.
The Order requires that the auditor's report include statements on specified operational and compliance matters: maintenance and verification of fixed assets and inventory, loans to parties in the section 189 register (including recovery of overdue amounts), adequacy of internal controls, compliance with deposit provisions and related directives, maintenance of prescribed cost records, regularity of undisputed statutory dues and details of disputed amounts, accumulated losses and cash losses, defaults to financial institutions, guarantees prejudicial to the company, application of term loans, and any frauds noticed. Reasons must be stated for any unfavourable, qualified or non-expressive answers.

PAN/TAN application eligibility expanded to allow unregistered companies to apply using Form INC 7.
A proviso permits companies not yet registered under the Companies Act, 2013 to apply for allotment of Permanent Account Number and for allotment of a tax deduction and collection account number by using Form No. INC-7 specified for incorporation. The rules also expand acceptable proof of date of birth to include documents such as aadhar card, passport, driving licence, matriculation certificate, government photo identity cards, domicile and marriage certificates, pension orders, specific health service cards, and magistrate sworn affidavits; corporate identity number is accepted as registration proof.

Rescission of industrial park approval revokes prior notification affecting eligibility for tax deductions and withdraws operations transfer.
The Central Government, invoking clause (iii) of sub section (4) of section 80 IA read with section 21 of the General Clauses Act, 1897, rescinds the Gazette notification that had notified M/s Meenakshi Infrastructure Private Ltd. as an Industrial Park, on account of the undertaking's failure to comply with the Industrial Park Scheme and related approval conditions; the rescission is effective from 21st August 2006.

Section 10(46) exemption for Punjab State Electricity Regulatory Commission covers regulatory fees and interest as non taxable subject to conditions.
Notification under Section 10(46) exempts specified receipts of the Punjab State Electricity Regulatory Commission for 2011-12 to 2015-16, limited to processing fees for tariff determination, licence fees, petition fees, and interest on bank deposits, subject to conditions that the Commission does not engage in commercial activity, its activities and specified income remain unchanged during the years, and it files returns as required by clause (g) of sub-section (4C) of section 139.

Exemption under section 10(46): specified income of Haryana Electricity Regulatory Commission exempted subject to non-commercial and filing conditions.
Notification under section 10(46) designates the Haryana Electricity Regulatory Commission as a notified Commission for specified income comprising grants and loans from the Government of Haryana, fees under the Electricity Act, 2003, and interest on those amounts, subject to conditions that the Commission not engage in commercial activity, that its activities and the nature of the specified income remain unchanged, and that it files its return of income as required by clause (g) of sub-section (4C) of section 139.

Tax exemption for specified income of Rajasthan State Pollution Control Board applies subject to non commercial operation and return filing.
Notification under section 10(46) exempts specified income of the Rajasthan State Pollution Control Board - government grants, license fees and fines, and interest on those amounts - subject to conditions that the Board not engage in commercial activity, that its activities and nature of specified income remain unchanged, and that it files returns as required by clause (g) of sub-section (4C) of section 139.

Trustee duties expanded: enhanced supervision, reporting and disclosure obligations to strengthen investor protection in securitisation transactions.
The amendment enacts enhanced eligibility and registration conditions for trustees including networth and staffing/qualification requirements; prescribes detailed trustee duties to supervise security creation and enforcement, ensure availability of trust property for specific scheme/tranche investors, obtain quarterly originator reports and auditor certificates, share such information with rating agencies, call investor meetings on requisition or servicer default, appoint a compliance officer, maintain infrastructure and notify the Board of networth shortfalls or material adverse actions. Schedule additions require confidentiality, prohibition on insider trading, internal controls, corporate governance and a standardised summary term sheet covering transaction particulars and credit enhancement disclosures.

Appointment of Assistant Commissioner cum VATO: statutory appointments made to assist VAT administration effective on assumption of charge.
The Lt. Governor, exercising powers under the Delhi Value Added Tax Act and applicable rules, appointed four officers as Assistant Commissioner cum VATO to assist the Commissioner of Value Added Tax, effective from each officer's date of physical assumption of charge: Sh. S. Sunil, Sh. Ajit Singh Dhankar, Sh. Biju Raj E, and Sh. Raghuvinder Singh Ruhil.

Appointment of Assistant Value Added Tax Officers appointed to assist the Commissioner effective from assumption of charge.
In exercise of powers under the Delhi Value Added Tax Act and Rules, the Lt. Governor appoints three officers-Sh. Anil Kumar, Sh. Nand Kishore and Smt. Praveen-as Assistant Value Added Tax Officers to assist the Commissioner in administration, effective from their dates of assumption of charge as recorded on joining.

Customs exemption for AEW&C imports requires authorised works centre designation and programme director certification, and restricted to programme use.
Amends the customs exemption to allow specified aircraft, radar, electronic, machinery and computer goods required for the AEW&C Programme to be imported duty free where imported by authorised works centres designated by a Deputy Secretary and accompanied at import by a Programme Director certified list confirming the goods are required for and authorized under the AEW&C Programme and will be used only for that programme; the exemption expires on and after the first day of January, 2016.

International Financial Services Centre units regulation: approval subject to SEZ rules and guidelines from financial regulators.
Notification permits establishment and approval of units in an International Financial Services Centre within Special Economic Zones under the Special Economic Zones Rules, subject to applicable guidelines and regulations framed by the relevant financial regulators; specified annexures set out the regulatory instruments for insurance, foreign exchange management, and securities regulation, and units must conform to the Special Economic Zones Act and associated rules and regulations.

IFSC unit approval procedure: prescribed application, LOA issuance, bond and regulator permissions required before operations commence.
Application for an IFSC unit in an SEZ requires submission of Form F with corporate/partner documents, identity and financial records, developer provisional allotment, sectoral approvals and a demand draft to the Development Commissioner. The designated Approval Committee (or the Development Commissioner acting in its stead) considers applications and issues a Letter of Approval (LOA) in Form G on approval. Units must execute a notarized Bond Cum LUT (Form H), submit a registered lease deed within six months, obtain sectoral regulator permissions before commencing operations, and meet net foreign exchange and recordkeeping obligations under the SEZ Act and Rules.

Service export duty-credit scrip exemption permits customs and specified additional duty relief on imports against registered SEIS scrip.
Exempts imports against a Service Export from India Scheme duty credit scrip from the whole of customs duty under the First Schedule and from specified additional duties, subject to conditions: scrip issuance to Indian service providers for notified services, use of prescribed ports or notified SEZs (with possible Commissioner permission), registration of the scrip at the port, production at clearance for debiting duties, coordination of debits with related notifications, transferability of the scrip, entitlement to drawback and CENVAT credit against debited amounts, and ineligibility for items listed in the specified exclusion appendix.

Duty credit scrip exemption allows imported goods to be relieved of customs and additional duty when used under MEIS.
Exemption is granted for goods imported against a duty credit scrip under the MEIS of FTP 2015-2020 from whole customs duty under the First Schedule and from specified additional duty; the exemption may include certain ad hoc additional incentives. Conditions require the scrip to be issued for notified exports, exclude listed export categories from entitlement, mandate imports/exports through specified ports or notified SEZs (subject to limited Commissioner discretion), require registration and production of the scrip at clearance for duty debits, and allow transferability, drawback and CENVAT credit against amounts debited in the scrip, with specified items ineligible.

Service Exports from India Scheme: excise exemption when goods cleared against registered duty credit scrip, subject to compliance.
Goods in the Fourth Schedule are exempted from excise duties when cleared against a SEIS duty credit scrip, subject to registration of the scrip with the Customs Authority, presentation with supplier/manufacturer invoice details identifying the jurisdictional Central Excise Officer and goods particulars, Customs debiting of duties on the scrip and written advice to the Officer, an undertaking by the scrip holder to pay any short debit with interest, endorsement and validation by the Central Excise Officer, and retention of attested copies by the manufacturer. Electronic scrips follow analogous electronic procedures and entitlement to drawback or CENVAT credit is preserved.

Exemption from excise duty for goods cleared under MEIS requires scrip debiting, validation, and entitlement to drawback or credit.
Goods cleared against a duty credit scrip under the Merchandise Exports from India Scheme are exempt from specified excise and additional duties, subject to registration of the scrip with the Customs Authority, presentation of the scrip with supplier details, Customs debiting of duties on the scrip and communication to the jurisdictional Excise Officer, the scrip-holder's undertaking to rectify any short debit, endorsement and validation by the Excise Officer, retention of attested debited and endorsed scrip copies by the manufacturer, and entitlement of the scrip holder to claim drawback or CENVAT credit against the validated debited amount.

Service tax exemption for services supplied against SEIS scrips, subject to scrip validation, debiting, and payment obligations.
Exemption of service tax is allowed for taxable services provided against a SEIS duty credit scrip issued under the Foreign Trade Policy, subject to conditions: scrip registration with Customs; presentation with the service provider's invoice indicating jurisdictional officer and tax details; Customs debiting the service tax on the scrip and notifying the officer; debit date treated as tax payment date; obligations to pay any short-paid tax and interest; validation by the jurisdictional officer; retention of an attested debited scrip; and entitlement to drawback or CENVAT credit against the debited validated amount.

Service tax exemption for services under MEIS scrip permits service tax debit validation and entitlement to drawback or credit.
Taxable services provided against an MEIS duty credit scrip are exempt from service tax provided the scrip is registered with the Customs Authority and presented with prescribed invoice documentation; Customs shall debit the notional service tax on the reverse of the scrip and notify the Central Excise Officer, whose validation on the scrip and record of payment enables the holder to claim drawback or CENVAT credit. Short-paid tax or interest arising from point-of-taxation or rate differences must be paid by the scrip holder, and debited scrips must be presented to the Central Excise Officer within thirty days with an undertaking.

Warehousing station designation enables establishment of exclusively export-oriented units under delegated customs authority for limited purpose.
Survey No. 278, Dasudi Village, Huliyar Hobli, Chikkanayakanahalli Taluk, Tumkur District, Karnataka is declared a warehousing station under Section 9 of the Customs Act, 1962 for the limited purpose of setting up 100% export oriented units, the declaration being made under delegated authority pursuant to Notification No. 33/94-Cus. (N.T.) and clause (a) of Section 152 of the Customs Act, 1962.

Customs facility designation: Khurja added for unloading imported and loading export goods by government notification.
The Central Board of Excise and Customs amended Notification No. 12/97-CUSTOMS (N.T.) to insert "(xiv) Khurja, District Bulandshahr" in the Table for Uttar Pradesh, authorizing the unloading of imported goods and loading of export goods at Khurja as a specified customs facility location.