NCLT monitoring team reporting lines and composition in customs revised to NCLT/IBC supervision and Legal Cell staffing.
Corrigendum amends Standing Order No. 05/2025 to require the NCLT Monitoring Team to function under the Deputy/Assistant Commissioner of Customs (NCLT/IBC) with overall supervision by the Additional/Joint Commissioner of Customs (NCLT/IBC), and to comprise 1 SCP/Appraiser, 1 PO and 1 EO posted in the Legal Cell (Port), each holding simultaneous charge of their regular posting.

Post sale discounts: input tax credit preserved unless discounts form inducement under an agreement as consideration.
Where suppliers issue commercial or financial credit notes without reducing the original transaction value, the supplier's tax liability remains unchanged and the recipient retains full Input Tax Credit; generally, post sale discounts paid by manufacturers to dealers that simply lower the dealer's sale price are not consideration for the dealer's supply to the end customer absent an agreement with the end customer, but when a manufacturer-agreed discount to an end customer is enabled by credit notes to the dealer, that discount is part of the overall consideration as an inducement; discounts are not consideration for promotional services unless distinct services are provided under an express agreement with defined consideration.

Terminal operator name correction preserves renewed permission for international transshipment handling of LCL containers without altering other terms.
The public notice corrects the name of the entity authorised to handle international transshipment of LCL containers, substituting "All Cargo Logistics Limited" with "All Cargo Terminals Limited". The renewed permission for the container freight station continues on the same terms and for the previously specified validity period. No other content of the earlier public notice is altered.

Restitution of ED-attached assets: IPs must file an undertaking setting use limits, reporting, disclosures, and ED cooperation.
In cases where Enforcement Directorate attachment affects corporate debtor assets, Insolvency Professionals should apply under sections 8(7) or 8(8) of PMLA and file the prescribed Undertaking. The Undertaking bars sale or use of restituted assets to ineligible or accused parties, mandates quarterly reports to the Special Court on asset status, monetisation and distributions, requires disclosure of attached properties in Information Memoranda/auction notices, and commits the IP to cooperate with the ED, including document production (with protections for commercially sensitive materials) until approval of a resolution plan or dissolution order.

Paraffin import assessment requires CRCL testing for first-time consignments; limited sampling waivers with valid prior CRCL reports.
All first-time paraffin imports require representative sealed samples forwarded to CRCL for testing. Subsequent consignments by a manufacturer who is the actual user may be finally assessed on second check without sampling if a valid CRCL Previous Test Report (not older than six months) for the same item and supplier is produced and supporting documents are uploaded on e-Sanchit; other consignments will be assessed on second check with sampling. If an officer has reasonable doubt on classification, description, or quality, samples shall be forwarded to CRCL. The Public Notice is a Standing Order for officers.

Courier and postal imports face specified customs duty rates, KYC requirements, and conditional exemption eligibility.
Notice prescribes the legal framework and mandatory compliance for courier/parcel/postal imports, classifies consignments as B2B, personal (monetary) and gift (no monetary transaction), and sets specific duty compositions for personal imports and gifts (yielding 30.98% and 41.60% respectively). It requires proactive disclosure of duties by courier agents, conditions exemption eligibility on case-by-case supporting declarations and notifications, and mandates accurate matching KYC documentation to avoid clearance delays.

Food import points updated: Kannur Air Cargo Complex added and authorised officers for food clearance notified.
The notification adds Air Cargo Complex, Kannur International Airport to the roster of designated food import entry points and designates Superintendent/Appraiser/Inspector/Examiner as the Authorised Officer for food import clearance there; an updated consolidated list of 166 Points of Entry with notified authorised officers is circulated and earlier instruction is modified to that extent, with field formations asked to sensitize officers and report implementation difficulties.

SCOMET Authorisation: DGFT proposes a single unified ANF requiring technical specs, end user and compliance declarations.
Draft amendments propose a single consolidated Aayat Niryat Form for grant of SCOMET Authorisation, standardising application content across all types by requiring applicant identification, detailed SCOMET item descriptions and technical specifications (including drones and cryptography), prior three-year export history, shipment, consignee and end-user details, purpose of export, category-specific sections for global authorisations and repair/re-export, ICP/AEO and compliance disclosures, and signed undertakings affirming adherence to statutory licensing and reporting obligations.

Denatured ethyl alcohol import procedures updated: docks examination officer replaces bond officer and EDI reduces recordkeeping.
The notice amends the prior import/warehousing procedure for Denatured Ethyl Alcohol by substituting "Docks Examination Officer" for "Bond Officer" and by diminishing the separate recordkeeping requirement because relevant data and records are now maintained in the Electronic Data Interchange system; all other prior instructions remain operative and an administrative contact is provided for implementation difficulties.

MOOWR/MOOSWR online application facility continues on Invest India portal until 15 November 2025 for Customs Act filings.
The online facility allows submission of MOOWR/MOOSWR applications through the current Invest India-hosted portal until 15 November 2025, with jurisdictional Principal Commissioners/Commissioners of Customs required to process such applications in accordance with applicable statutory provisions and existing instructions.

Customs voluntary revision of entries allows importers/exporters to amend cleared entries by paying duty and interest.
The regulation allows importers, exporters or authorised persons to file an electronic voluntary revision of entries post-clearance at the port where duty was paid; the system issues an ARN on acceptance, duty and interest (if any) are payable against the ARN, and a Revised Entry Reference is generated. The process is self-assessed but subject to verification by a proper officer who may request documents, re-assess duty by a speaking order, and order refunds under section 27; refund claims arise from the revised entry itself and the ARN date is deemed the date of claim.

Eligibility criteria for derivatives on non-benchmark indices require exchanges to adjust constituents and weights with revised deadlines.
Implementation of eligibility criteria for derivatives on Non-Benchmark Indices requires stock exchanges to achieve compliance through constituent and weight adjustments in existing indices, with single-tranche adjustments permitted for BANKEX and FINNIFTY and a phased four-tranche rebalancing mandated for BANKNIFTY. The phased approach mandates iterative recalculation and proportional reduction of excess weights among top constituents, redistribution of excess to other constituents subject to prudential norms, and implementation of exchange systems, market notifications and rule amendments to meet revised timelines.

Qualified Stock Brokers' timeline for implementing optional T+0 settlement systems extended; new date to be notified.
SEBI has further extended the compliance timeline for Qualified Stock Brokers to implement systems and processes enabling investor participation in the optional T+0 settlement cycle; the revised effective date will be intimated later and all other provisions of the December 10, 2024 circular remain unchanged.

Certified past performance may be shared with clients if ICAI/ICMAI certified, limited to one-to-one requests and templates.
Interim permission allows Investment Advisers and Research Analysts to provide past performance data certified by a member of ICAI or ICMAI for periods prior to PaRRVA operationalisation, only on specific client request and on a one-to-one basis, not publicly. Such providers must enrol with PaRRVA within a specified period after its launch or cease communicating certified past performance; post-operationalisation performance must use PaRRVA-verified metrics. All communications must include a prescribed disclaimer and follow templates to be issued by the supervisory bodies. Non-compliance may attract enforcement measures under applicable intermediaries regulation.

Second opinion fees allowed for assets under prior distribution arrangements, with capped advisory charge and annual client consent.
IAs may charge advisory fees, under AUA mode, on client assets subject to a pre-existing distribution arrangement when providing a second opinion, limited to 2.5% per annum. IAs must annually disclose and obtain client consent that, besides the advisory fee payable to the IA, clients will incur distributor consideration costs on those assets.

Refund procedure for TRQ application fees: applicants may request refunds online once applications are marked closed.
Applicants whose provisional TRQ allocations for import of Gold under India-UAE CEPA have been cancelled may apply for refund of application fees once their application status shows closed on the DGFT portal. Refunds must be requested via Services e Miscellaneous Payment Service Apply for Refund, providing the closed restricted import authorisation file number and a validated bank account in the name of the IEC holder; DGFT login credentials and e sign/Digital Signature Certificate are required. Further assistance is available in the DGFT Refund Help Document.

Source from India eligibility extended to IECs meeting USD 100,000 export realisation for microsite registration.
Access to the Source from India service on Trade Connect is extended to any valid IEC (not in DEL) that records a minimum export realisation of USD 100,000 in at least one of the prior three financial years, with DGFT eBRC database aggregate financial year values serving as the sole eligibility reference; linked Trade Connect accounts will enable microsite creation and annexed guidance explains registration, submission and approval procedures.

Self-assessment obligation: ensure complete e-Sanchit documentation and correct linking to expedite faceless customs assessment and clearance.
Importers must self-assess duty liability and furnish complete supporting documents at Bill of Entry filing; to expedite faceless assessment, legible documents must be uploaded to e-Sanchit, correctly linked/tagged with the Bill of Entry IRN, and appropriate document codes selected. Include catalogue/technical write-ups, pictures and specific product parameters for classification; upload evidentiary documents for declared value, exemption claims and statutory certifications (BIS, MTCTE, WPC/ETA, LMPC, EPR, DGFT licenses) before filing. Replies to queries must be specific, exhaustive and reference IRNs; provisional assessments under Section 18 require stated reasons.

Gold TRQ allocation under India UAE CEPA requires BIS hallmarking and GST registration and will use competitive online bidding.
Condition (g) of Annexure IV, Appendix 2A is amended to exclude gold dore from TRQ eligibility and to require applicants to have BIS hallmarking registration and GST registration for imports under tariff head 7108; TRQ allocations will be made through a competitive online bidding/tender process, with applications submitted via the DGFT Import Management System and bidding modalities and submission windows notified annually through a Trade Notice.

Income tax filings: CBDT extends ITR due date to 10 December 2025 and audit report to 10 November 2025.
The CBDT, under Section 119, extends the ITR due date for assessees covered by clause (a) of Explanation 2 to s.139(1) for AY 2025-26 from 31 October 2025 to 10 December 2025, and correspondingly extends the specified date for furnishing the report of audit under the Explanation to Section 44AB to 10 November 2025.