Mark-to-market valuation for repo transactions requires agency pricing, aligning repo valuation with other money market instruments.
Repos, including tri-party repos with tenor up to thirty days, shall be valued on a mark-to-market basis rather than cost plus accrual; short-term bank deposits pending deployment remain on cost plus accrual. Valuation for all repos except overnight repos, and for money market and debt securities, must be obtained from AMFI-empanelled valuation agencies as the average of security-level prices. If agency prices are unavailable for a new security not held by any mutual fund, it may be valued at purchase yield or purchase price on the date of allotment or acquisition.

Extension of CAVR Order: validity for Linear Alkyl Benzene extended under Customs value declaration rules, affecting import compliance.
The Central Board of Indirect Taxes and Customs extended the operation of CAVR Order No. 1/2023 Customs for Linear Alkyl Benzene (HS Code 38170011) for an additional one year period under the Customs (Assistance in Value Declaration) Rules, 2023, exercising powers under the Customs Act. This Public Notice is issued as a standing order for departmental officers; operational difficulties are to be reported to the Assistant Commissioner of Customs (Appraising Main), Chennai II(Import) Commissionerate.

Rule 23 powers are delegated to Zonal Incharges for eligible GST cases under amended registration provisions.
Powers under the first proviso to sub-rule (1) of Rule 23 of the Delhi Goods and Services Tax Rules, 2017 are delegated to every concerned Zonal Incharge. The delegation operates for all eligible cases governed by the amended provisions of Section 30(1) of the Delhi Goods and Services Tax Act, 2017, with effect from 1 October 2023.

Waiver of interest and penalty: pay full disputed tax by notified date and file prescribed form to seek conditional relief.
Conditional waiver of interest or penalty is available for specified past-period demands if the taxpayer pays the full tax demanded (after permitted deductions for retrospectively restored input tax credit), withdraws related appeals or writs, and files the prescribed electronic application form. The proper officer examines the application, may issue a short-form notice with a hearing opportunity, and must pass an order within prescribed timelines-failure to decide deems approval. Waiver is limited to demand portions covering the specified periods, excludes certain charges (erroneous refund interest/penalty, import customs IGST), and requires payment of additional tax determined on departmental appeals within a short timeframe or the waiver becomes void.

Input tax credit extension for specified financial years enables claims subject to prescribed cutoffs and no refunds.
Retrospective extension of the time-limit to claim input tax credit is clarified: sub-section (5) allows ITC for invoices/debit notes pertaining to financial years 2017 18 to 2020 21 in any return filed up to 30 November 2021; sub-section (6) permits ITC where registration cancellation was later revoked subject to prescribed cutoffs. No refund of tax paid or ITC reversed is available under section 150. Administrative guidance requires authorities to apply these provisions across cases, and prescribes a special rectification procedure under Notification No.22/2024 for affected orders.

Pre-deposit refund protection preserved where taxpayer appeals are later decided favorably despite new refund restriction.
The corrigendum clarifies that the refund restriction introduced by the Finance (No. 2) Act, 2024 does not apply to refunds of amounts paid as pre-deposit by a taxpayer when filing appeals under the CGST Act; such pre-deposit refunds shall be available where the relevant appeals are decided in the taxpayer's favour. The CBIC corrigendum is applied mutatis mutandis by the Maharashtra GST administration to implement the same clarification under the MGST Act, 2017, and the circular is stated to be clarificatory with a request to report implementation difficulties.

Governance reforms for market infrastructure institutions strengthen director accountability, reporting, whistleblower and risk frameworks.
SEBI requires MIIs to strengthen governance through mandatory bi annual PID meetings reporting to SEBI and the governing board, standardized quarterly Compliance Officer reports and half yearly Chief Risk Officer reports in prescribed formats, website disclosure of board agendas and minutes on regulatory and risk matters, SOPs for disciplinary action against KMPs including malus clawback provisions, tightened whistleblower resolution and reporting timelines, RegTech/SupTech adoption for member supervision, vendor appointment and monitoring policies, director training and a streamlined two stage director appointment process, and specified independent reporting interactions for CO, CRiO, CTO and CISO; the measures are to be implemented by the effective date with necessary bylaw amendments.

IGCR monthly statement automation allows temporary manual filing, with mandatory electronic compliance commencing from February 2025.
Automation of monthly compliance under the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 permits manual submission of IGCR-3 monthly statements before jurisdictional officers until 31 January 2025 where importers face electronic-filing difficulties. Online filing is mandatory from February 2025. An Excel utility is to support electronic submission of IGCR-3 and IGCR-3A statements for current and past periods by 31 January 2025.

Export transshipment controls require tracked seals, bonded movement, customs verification, and direct containerisation before final third-country export.
Export transshipment of Bangladesh cargo to third countries through Nhava Sheva Port may occur by authorised road or rail routes in closed conveyances or containers. Shipping lines or authorised representatives must file a Bill of Transshipment, declare an Electronic Cargo Tracking System seal, and furnish a specific or general bond for twice the goods' value. At the Customs Freight Station, the Stuffing Superintendent verifies seal integrity, supervises direct transfer into the export container, seals it, and permits movement to the port under preventive escort. Electronic trip reports enable bond credit or cancellation and flag unauthorised unsealing.

Security deposit requirement removed; exchanges must adopt SOP for previously deposited funds and notify listed issuers.
Requirement to deposit a 1% security deposit of issue size with the designated stock exchange under the ICDR Regulations has been dispensed with and the Master Circular on issuance of No Objection Certificate for that deposit is withdrawn with immediate effect. Stock exchanges must jointly frame an SOP for release of security deposits deposited before the amendment, notify listed companies, publish the change on their websites, and amend bye laws, rules and regulations as necessary to implement the circular.

Mutatis mutandis application of GST clarifications ensures uniform implementation of specified statutory provisions and related corrective guidance.
CBIC Circular Nos. 237/31/2024-GST and 238/32/2024-GST, together with the corrigendum to Circular No. 237/31/2024-GST, apply mutatis mutandis under the OGST framework. The clarifications concern implementation of section 16(5) and section 16(6) of the CGST Act and doubts relating to section 128A. They are clarificatory measures intended to secure uniform GST administration, with implementation difficulties referable to the Commissioner of State Tax.

Exclusive GST registration functions require designated proper officers to ensure timely registration, cancellation, and revocation processing.
Range and Circle Heads must assess the workload for registration, cancellation, including suo motu cancellation, and revocation functions in each Circle or Unit office. Depending on that workload, they must exclusively assign one or two proper officers in Circle offices to registration-related functions. Those officers must not receive return-scrutiny, audit, adjudication, or recovery work until they are divested of their exclusive registration assignment, and their registration-function assignment must rotate every six months.

Post-registration GST verification becomes risk-based, while resources shift to non-filer management, scrutiny, audit, and revenue recovery.
Post-registration physical verification of GST registrants' places of business need not be conducted in every case following biometric-based Aadhaar authentication, applicant photographs, and verification of original registration documents. Verification should be undertaken where credible information or leads indicate revenue risk. Staff may be deployed for assessment, collection, non-filer management, return scrutiny, audit, adjudication, TDS monitoring, and arrear recovery, while surveys of unregistered persons may be kept in abeyance.

Concessional import duty: MOOWR units may simultaneously avail IGCR benefits subject to conditions, time limits and documentation.
MOOWR units may simultaneously avail concessional import duty under the IGCR Rules provided they comply with additional conditions in the concessional notification and IGCR Rules, including time-limits, documentation and periodical accountal, in addition to MOOWR obligations. The expression "for use in manufacture of cellular mobile phones" denotes intended manufacturing use of components and does not limit eligibility to final manufacturers; intermediate MOOWR units importing components for value addition and supplying resultant goods to final mobile phone manufacturers qualify for IGCR concessional rates if all conditions are met.

Automation transition for concessional duty imports: manual IGCR-3 filing permitted during transition, online filing required thereafter.
Importers facing difficulties with the automated IGCR portal may file the IGCR-3 monthly statement manually before jurisdictional officers until 31.01.2025; electronic filing becomes mandatory from February 2025. An Excel utility for filing IGCR-3/IGCR-3A will be provided by the systems wing by 15 December 2024 to facilitate electronic submission for current and past periods, and administrations should issue public guidance and report implementation difficulties to the Board.

E-way bill verification procedures require prompt inspection, documented detention, security-based release, and limited penalties for minor clerical errors.
E-way bill verification requires production of prescribed transport documents and permits vehicle interception for document verification or goods inspection. Failure to produce documents or a need for inspection requires forms for statement, inspection order, reporting and physical verification. Detention requires an order and notice specifying tax and penalty, while release may follow payment or a bond with bank-guarantee security. Confiscation proceedings require notice and an opportunity of hearing. Minor clerical e-way bill discrepancies, where material particulars remain correct, do not warrant detention and instead attract the prescribed penalty and weekly reporting.

Mandatory import qualifiers for coking and non coking coal improve declaration detail and facilitate assessment and policy formulation.
Additional mandatory qualifiers must be declared in the Bill of Entry for imports of coking and non coking coal, identifying coking coal by ash percentage bands and non coking coal by specified gross calorific value (GCV) ranges as set out in the Annexure, to improve assessment quality, reduce queries and aid policy formulation.

Customs bonded warehouse licensing is digitised through ICEGATE, enabling online applications, transfer requests, monthly returns and jurisdictional processing.
Digitisation of customs bonded warehouse licensing through the ICEGATE Warehouse Module enables authorised signatories to file online licence applications with supporting documents. The module also permits online requests for transfer of warehoused goods and uploading of monthly returns. Applications are routed to the proper officer for the selected Customs jurisdiction and processed through the Customs back-end system. Specified port codes within Mumbai Customs Zone III receive and process licence applications, with designated support channels available for module-related grievances.

Default treatment clarified: CRAs must verify funds, reasons and escrow payments before downgrading after payment failures.
Where non-payment of principal and/or interest arises from circumstances beyond the issuer's control (such as incorrect/dormant investor account details or account freezes), a CRA must confirm availability of adequate funds with the issuer and verify proof of payment failure, the specified reasons for failure, and that required amounts were paid into a separate escrow account on the due date; the CRA must, on the same day as its rating press release, furnish specified payment and failure details to Stock Exchanges, Depositories and the Debenture Trustee for dissemination.

'C' form issuance for ENA and liquor requires utilisation verification, electronic generation, data upload, and maintained issuance records.
'C' forms for specified goods are confined to re-sale or use in manufacture or processing of those goods. For ENA and liquor, dealers must apply to the Special Commissioner with permits, invoices, proof of movement and required information. The application requires verification by the Commissioner of Prohibition and Excise regarding lawful utilisation, accounting of ENA, and supply of liquor to the Telangana Beverages Corporation. Approved forms are generated electronically, uploaded to TINXSYS, and recorded in physical and electronic registers.