Qualified Foreign Investor status permits a single non interest Rupee account to route eligible securities transactions subject to conditions.
A Qualified Foreign Investor (QFI) is defined by residency and compliance criteria tied to FATF and IOSCO cooperation, KYC requirements, and exclusions for jurisdictions with strategic AML/CFT deficiencies, residents of India, and entities already registered as FIIs, Sub Accounts of FIIs or FVCIs. A QFI may open a single non interest bearing Rupee account with an Authorised Dealer without prior Reserve Bank approval solely to route receipts and payments for purchase and sale of eligible securities, subject to funding by inward remittance or sale proceeds, restricted uses for purchase or outward remittance, and operation by Qualified Depository Participants under securities regulator norms.

Qualified Foreign Investor rules enable targeted foreign investment with SEBI pricing, single demat/account and enhanced reporting.
The amendments create and define the Qualified Foreign Investor (QFI) category with eligibility linked to FATF/IOSCO adherence and SEBI KYC, integrate QFIs across the Regulations, permit QFI investments in specified rupee denominated mutual fund units and, under Schedule 8, in listed equity subject to SEBI pricing rules, require a single demat account and single non interest bearing rupee account for QFI transactions, and strengthen reporting, pricing certification and AD bank/KYC obligations while maintaining existing FDI sectoral caps and prohibitions.

Export ban on edible oils extended till further orders; specified exemptions and limited branded pack exports allowed via EDI ports.
The Central Government, under Section 5 of the Foreign Trade (Development & Regulation) Act and Para 2.1 of the Foreign Trade Policy, has extended the prohibition on export of edible oils until further orders by amending Schedule 2 of the ITC(HS) Classification. Existing exemptions continue to apply, including specified oils, deemed exports from DTA to 100% EOUs for non edible export production, and oils from minor forest produce; branded consumer pack exports are allowed under prescribed pack and execution conditions through Custom EDI Ports, and fish oil remains free.

Anti-dumping duty exclusion expanded to include moulded door skin, narrowing scope for bonded wood fibre boards.
The Duty Table entry for "Resin or other organic substances bonded wood or ligneous fibre boards of thickness below 6mm" is amended to exclude moulded door skin along with insulation boards, laminated fibre boards and boards not bonded by resin or other organic substances. Note I is similarly amended to state that fibre boards of thickness 6mm or above, insulation boards, laminated fibre boards, moulded door skin, and boards not bonded by resin or other organic substances shall not be liable to pay anti-dumping duty.

Rate of exchange determination fixes currency conversion rates for customs import and export valuation from the stated effective date.
Determination under section 14 of the Customs Act, 1962 fixing the rupee equivalents of specified foreign currencies, with distinct rates for imported and export goods as set out in Schedule I and for Japanese Yen in Schedule II, effective from 19th October, 2012, and superseding the earlier October 4, 2012 notification, with corrigendum corrections to the Kenya Shilling entries.

Customs duty exemption for LR SAM programme imports when made by authorised works centres with certified lists confirming authorised use.
Customs duty exemption applies to specified goods imported for the LR-SAM programme when imported by authorised works centres designated by an officer not below Deputy Secretary and when the authorised works centre furnishes, at import, a list certified by the Programme Director confirming the goods are required for the LR-SAM programme, authorised by the Ministry of Defence, and to be used exclusively for that programme.

Excise duty exemption for LR-SAM programme subject to supply to programme and certificate prior to clearance.
The amendment adds an excise duty exemption for specified goods for the LR-SAM Programme where the goods are supplied to the Programme and a certificate from the Programme Director confirming intended use is produced to the proper officer before clearance; the exemption is time-limited and ceases to have effect on or after the stated expiry date.

De-notification of SEZ area reduces the multi-product SEZ at Chengambakkam after statutory approval and compliance.
De-notification of 70.215 hectares from the multi-product SEZ proposed by M/s. Sri City Private Limited in specified villages of Satyavedu and Vardayya Palem Mandals, Andhra Pradesh, effected under the second proviso to sub section (1) of section 4 of the SEZ Act, 2005 and rule 8 of the SEZ Rules, 2006, after the Central Government accepted the developer's proposal and was satisfied that statutory conditions including sub section (8) of section 3 were fulfilled, resulting in a reduced SEZ area.

Public Provident Fund authorisation: additional bank branches may receive subscriptions subject to prompt remittance and delay penalties.
Central Government authorises 186 additional branches of Allahabad Bank to receive subscriptions under the Public Provident Fund Scheme, 1968, subject to conditions: remittances must be credited to the Government Account at the Reserve Bank of India, Central Account Section, Nagpur within three days; delayed remittances attract a penalty comprising the interest payable to the depositor plus an additional increment for delays within and beyond thirty days; compliance with PPF rules is mandatory and non observance may lead to penal action including de authorisation and pecuniary liabilities borne by the bank.

Correction to exemption list: beneficiary name for a mega power project amended, record updated accordingly.
Corrigendum amends the Central Excise notification's exemptions list by substituting the named beneficiary for item 63 in List 11, sub-para (iii), para (B), replacing the previously published corporate name with the correct corporate name for the 3x382.5 MW project; the project capacity and list placement remain unchanged.

Corrigendum to customs exemption correcting beneficiary name for Akhakhol GBPP in notified list entry recorded.
The corrigendum amends Para (B), List 32A of the earlier customs exemption notification to replace the named beneficiary for Akhakhol GBPP: the project description and capacity remain the same but the beneficiary is corrected from M/s. Jindal Power Ltd. to M/s. Torrent Power Ltd.

Tariff classification correction updates the customs notification to replace an incorrect subheading for Coumarin imports under anti dumping duty.
Corrigendum corrects the customs tariff classification references in the anti dumping duty notification on imports of Coumarin from the People's Republic of China by substituting the originally published tariff subheading with the corrected subheading at specified pages and lines of Notification No. 12/2012 Customs (ADD). The correction is limited to typographical/classification errors and does not alter other substantive provisions of the original notification.

Self certification for import of arms simplifies approvals, allowing national shooting bodies and sports authorities to import with record-keeping.
Amendment replaces certification by the Sports Authority of India with self certification by the National Rifle Association of India for imports of arms and ammunition; imports remain freely permitted to renowned shooters on recommendation of the national shooting federation, to the national shooting association for its own use and transfers to state/district affiliates by self certification, to Sports Authority or State Sport Authorities by self certification, and to the defence sports control board, with respective recommending or certifying bodies maintaining required records.

Special Economic Zone designation at Dimapur confers Inland Container Depot status and establishes an Approval Committee.
Notification designates a Special Economic Zone at Dimapur proposed by M/s. HN Company, records satisfaction with statutory prerequisites and the grant of a letter of approval under the Special Economic Zones Act, 2005, specifies the zone's boundaries and area, constitutes an Approval Committee with named ex officio members and state nominees plus a developer representative, and declares the SEZ to be deemed an Inland Container Depot under the Customs Act, 1962 from the appointed date.

Regional Director jurisdictions updated: Eastern and North Eastern regions defined with Kolkata and Guwahati headquarters respectively.
The Companies Regulations, 1956 are amended in regulation 2(d) to (i) substitute serial (v) designating the Regional Director, Eastern Region with headquarters at Kolkata and jurisdiction over West Bengal, Bihar, Jharkhand and Orissa; and (ii) insert serial (vii) designating the Regional Director, North Eastern Region with headquarters at Guwahati and jurisdiction over Meghalaya, Assam, Arunachal Pradesh, Nagaland, Mizoram, Manipur and Tripura.

Extension of time to file returns: quarterly Form ST3 deadline extended due to anticipated ACES system congestion and filing rush.
Central Board of Excise & Customs extends the filing deadline for the quarterly Form ST3 return for April-June 2012 by one month, invoking powers under the Service Tax Rules, 1994. The extension responds to an ACES system rollout of quarterly-format returns shortly before the original due date, a circumstance likely to cause concentrated filing, network congestion, delays, and taxpayer inconvenience, and is communicated as an administrative order to relevant tax commissioners and systems officials.

Committee composition change under Companies Act: RBI and SEBI nominees appointed to the National Advisory Committee on Accounting Standards.
Amendment substitutes two member entries in the National Advisory Committee on Accounting Standards notification: serial number 5 is replaced to nominate Shri Deepak Singhal, Chief General Manager in charge, Department of Banking Operations and Development, as the Reserve Bank of India nominee under clause (d) of sub section (2) of section 210A; and serial number 11 is replaced to nominate Shri V.S. Sundaresan, Chief General Manager, Corporation Finance Department, Securities and Exchange Board of India, as the nominee under clause (i) of sub section (2) of section 210A.

Tariff value fixation revises customs valuation benchmarks for specified edible oils, metals and scrap under statutory customs powers.
Substitutes TABLE-1 and TABLE-2 in Notification No. 36/2001-Customs (N.T.) to set tariff values for specified imports, including edible oils, brass scrap and poppy seeds (per metric tonne) and unit tariff values for gold and silver where specified notification benefits are availed, under the authority of section 14(2) of the Customs Act, 1962.

SEZ notification amendment: corrected survey number for IT/ITES sector-specific SEZ under SEZ Act authority formalised by central government notification.
The Central Government amends the SEZ notification for a sector-specific IT/ITES Special Economic Zone by replacing the survey number "98/2" with "98/9" in Serial Number 22 of the original notification, thereby correcting the land parcel identification for the SEZ established by M/s. Infoparks Kerala.

Rescission of SEZ notification removes designation after cancellation of formal approval, preserving prior acts.
The Central Government rescinds the notification designating 1840 hectares at Village Dhrub as a multi product Special Economic Zone after cancellation of the formal approval under the Special Economic Zones Act, 2005 and SEZ Rules, 2006; the rescission is without prejudice to acts done or omitted before such rescission.