Commercial Paper listing disclosures require issuers and exchanges to file application-level and continuous reporting, monitoring and compliance.
A regulatory framework requires issuers to submit specified Annexure I disclosures with listing applications for Commercial Paper, which exchanges must publish upon approval, and mandates ongoing Annexure II disclosures during the CP tenure. Annexure I covers issuer, governance, top holders, auditor changes, past defaults, material litigation, detailed borrowings, tranche particulars, end-use and credit support; Annexure II requires periodic financial reporting, 24 hour disclosure of material events including defaults and credit rating revisions, ALM statements for NBFCs/HFCs, and quarterly CEO/CFO certification on use of proceeds and compliance.

Retrospective effect of explanation under section 11(3): inserted clarification applies from the entry's inception, not a later date.
The circular clarifies that an explanation inserted into a prior notification under the statutory power to insert post issuance explanations operates from the inception of the original entry if inserted within the permitted temporal window. The specific inserted explanation excludes Government and Local Authority activities from the term 'business' for the concessional entry and thus has retrospective effect as if part of the original notification, despite any later stated operative date in the inserting notification.

Place of supply: testing on client provided prototype is ancillary so supply location is recipient's location.
Where testing of software on prototype hardware supplied by the recipient is ancillary to a principal composite supply of software or chip design, the entire activity is to be treated as one supply and the place of supply is the location of the service recipient under the IGST place of supply rule; provisions regarding goods made physically available by the recipient do not independently change the place of supply for the ancillary component.

GST exemption: DG Shipping approved maritime training courses qualify as educational services exempt from GST when notification conditions are met.
DG Shipping approved Maritime Training Institutes and their approved courses qualify as educational institutions for the purpose of GST exemption where the training is part of a curriculum leading to a qualification recognised by law; the exemption is subject to the conditions specified at Sl. No. 66 of the exemption notification in G.O.Ms.No.588, Revenue (CT II), Dated 12.12.2017 and extends to corresponding IGST, UTGST and CGST exemptions.

GST on donor name displays: acknowledgement without commercial advertising is not a taxable supply when no quid pro quo exists.
GST on donor nameplate displays is not leviable where the placement is a gratuitous acknowledgement by a charitable organization, lacks any business promotion of the donor, and there is no quid pro quo; inscriptions limited to expressions of gratitude or memorials therefore do not constitute a taxable supply of service.

GST treatment of airport levies: airport operators liable for GST; airlines may exclude levy amounts if acting as pure agents.
PSF and UDF charged by airport operators are consideration for services to passengers and attract GST. Airlines collecting these levies act as agents; if they satisfy Rule 33's pure agent conditions and separately indicate the actual amounts and GST in invoices, those amounts are excluded from the airline's value of supply. The airport licensee remains liable to pay GST on PSF and UDF, airlines cannot claim ITC on such amounts, passengers may claim ITC on the basis of the pure agent invoice, and collection charges paid to airlines are taxable in the airlines' hands.

GST classification: specified goods clarified to attract distinct rates and exemptions across food, equipment, imports and parts.
Clarification sets GST treatment: dried leguminous vegetables subjected only to moisture-removing heat remain under HS 0713 (5% if branded/packed; otherwise exempt); almond milk classifies under 2202 99 90 at 18%; mechanical sprayers of all types fall under entry No. 195B and attract 12%; imported naval stores are GST-exempt; imports taken on lease for use after import qualify for IGST exemption subject to Condition No. 102 and aligned notification wording; parts for solar water heaters under chapters 84/85/94 attract 5%; parts solely/principally for medical devices under headings 9018/9019/9021/9022 attract 12% per Chapter Note 2(b).

Faceless assessment extended to specified import goods, enabling virtual FIFO assessment with no direct stakeholder interface.
Faceless assessment is extended under the Turant Customs scheme to Bills of Entry for goods in Chapters 50 to 71; such bills will be system-marked to a Virtual Group and allocated to nominated officers on a first-cum-first-served basis for assessment without direct interface with stakeholders. The Virtual Group will scrutinise for assessment and import permissibility, forward consignments to Docks/CFS for examination and sample drawing, and handle queries/orders via Dock/CFS officers. Existing filing procedures remain unchanged and ancillary functions in local Group 3 continue except direct assessment. Importers must upload documents via e-Sanchit to facilitate quick assessment.

Faceless assessment introduced for plastics imports, with virtual officers conducting remote first cum first served scrutiny and mandated document upload.
A pilot faceless assessment scheme for Group 2G (Chapter 39 plastics) will auto queue Bills of Entry to a system designated Virtual Group; nominated officers will assess remotely on a first cum first served basis without stakeholder interface. Filing procedures at the four locations remain unchanged; local Group 2G units retain non assessment functions while the Virtual Group forwards consignments to Docks/CFS for RMS directed examination. Importers and brokers must upload all assessment documents via e sanchit to facilitate expedited clearance. The procedure takes effect on the stated date and implementation issues are to be reported to the Additional Commissioner.

Kerala Flood Cess: intra state business supplies to registered taxpayers exempt, and nil return option noted.
The Kerala Flood Cess is imposed on intra state taxable supplies in addition to GST, but supplies to recipients who provide a GST registration number are exempt. TDS registration qualifies as GST registration, so supplies to government departments or local authorities holding GST registration are exempt. Only taxable persons with cess liable supplies must file the Kerala Flood Cess Return in Form KFC-A and pay the cess; taxpayers without cess liable supplies in a financial year need not file, though once liable in a period they must file for subsequent periods and may submit a 'nil return'.

Cancellation of registration for return defaulters: retrospective notices and final-return obligations to protect revenue.
Cancellation of registration is to be applied retrospectively for taxpayers who migrated without filing, new registrants who never filed, and defaulters meeting statutory thresholds; notices in the prescribed form are to be issued from the GST back-end system, served by email and registered post, and allow a short online show cause reply. If pending returns and dues including tax, interest and late fee are furnished, proceedings shall be dropped; otherwise registration shall be cancelled retrospectively and a cancellation order issued. A cancelled person must file a final return and discharge tax or reverse credits; failure to file permits assessment to the best of judgment.

GST refund claims after appellate relief require a fresh application, without repeat credit ledger debit, supported by order records.
A registered person whose refund claim was rejected in FORM GST RFD-06 but subsequently allowed in appeal or another forum must file a fresh FORM GST RFD-01 application under the specified refund category. Amount previously debited from the electronic credit ledger and not re-credited pending appeal need not be debited again. The proper officer processes the amount allowed, issues FORM GST RFD-06 and FORM GST RFD-05, and re-credits any balance that remains rejected in accordance with prescribed guidelines.

Ab initio withdrawal of GST discount clarifications removes prior guidance on secondary and post-sales discounts from inception.
Prior GST clarifications concerning secondary or post-sales discounts are withdrawn ab initio under the Goa Goods and Services Tax Act, 2017. The withdrawal follows representations raising apprehensions about their implications and is intended to secure uniform implementation across field formations. It removes the operative effect of the earlier guidance from its original date of issue and precludes reliance on those clarifications.

Cancellation/Deregistration of GSTIN: officers must identify inactive or fraudulently obtained registrations and initiate suo motu cancellation.
Proper Officers must identify and cancel GSTINs that are inactive, fraudulent, or noncompliant under section 29(1)/(2), Rule 21/21A/22 by using portal MIS, historical records and e way bill data; conduct field verification (including via the GST Field Visit app); issue FORM GST REG-17 and allow REG-18 replies (seven working days), then cancel if warranted; require FORM GSTR-10 within three months and pursue assessment (ASMT-13/14/15) and recovery under section 79 if liabilities remain; prioritise suo motu cancellations for prolonged non-filers and follow prescribed reporting templates to apex office.

NIL refund claims may be corrected through reapplication where prescribed chronological and category-specific conditions are met.
Registered persons who inadvertently filed a NIL refund claim may reapply for the same period, subject to prescribed conditions. A subsequent-period refund claim under the same category prevents reapplication only for specified unutilized input tax credit refund categories. Eligible persons must file under the "Any Other" category, submit required supporting documents, and, where required, debit the admissible amount from the electronic credit ledger through FORM GST DRC-03 before issuance of the refund and payment orders.

NIL GST refund claims may be refiled through the Any Other category, subject to chronology and documentation conditions.
GST refund reapplication may be made where a registered person inadvertently filed a NIL claim in FORM GST RFD-01A/RFD-01 for a particular period and category despite having a genuine refund entitlement. Eligible persons must file the renewed claim under the "Any Other" category for the same period and provide required supporting documents. For specified unutilized input tax credit refund categories, no subsequent-period claim under the same category may have been filed. The proper officer must scrutinise eligibility, determine the admissible amount, and may require debit from the electronic credit ledger before issuing refund and payment orders.

Verification of transitional credit claims: clarified criteria for accepting revised MVAT returns, CST evidence, and interest liability.
Verification of transitional credit claims in TRAN-1 must follow rules linking allowance to MVAT original and revised returns: corrected returns that convert an erroneously claimed refund into carry forward may permit the TRAN-1 claim; where revised returns increase carry forward beyond the original, allowance is limited to the original amount with assessment adjustments later; where revised amounts are lower, the revised amount governs; duplicate refund and TRAN 1 claims are prohibited. Interest is payable on excess credit availed in TRAN-1 from filing until reversal or payment, and on inadmissible credit in revised TRAN-1 from the date of revision filing.

Employer-paid medical treatment exclusion: payments for qualifying hospital treatment not treated as perquisite and no TDS.
Approval is granted to M/s Palika Vinayak Hospital Pvt. Ltd. under sub-clause (b) of clause (ii) of the proviso to clause (viii) of sub section (2) of section 17 read with Rule 3A(1) & 3A(2), so that sums paid by an employer for medical treatment at the hospital for diseases listed in Rule 3A(2) shall not be treated as a perquisite and the employer need not deduct tax at source under section 192. The approval is effective from the date of issue for three years, is non transferable, and is subject to inspection, renewal, and withdrawal if conditions are not met.

Mandatory electronic payment modes under Section 269SU: providers invited to apply for prescription as eligible payment systems.
The Central Board of Direct Taxes invites applications from banks and authorised payment system providers operating under the Payment and Settlement Systems Act to have their payment systems prescribed as eligible electronic payment modes for the purposes of Section 269SU of the Income tax Act. Applicants must submit a signed application with name, address, PAN, license/registration details and a description of the payment system in the prescribed format, and send expressions of intent to the designated contact point within the notified timeframe; contact details for queries are provided.

Resignation of statutory auditors: timing and disclosure duties require issuance of pending review/audit reports and immediate Audit Committee reporting.
Resignation of statutory auditors from listed entities triggers timing-based requirements to issue limited review or audit reports before resigning, mandates inclusion of these conditions in engagement terms, immediate reporting of concerns to the Audit Committee, and provision of a detailed resignation disclosure in the Annexure A format; the Audit Committee must deliberate, communicate views to management and disclose those views to stock exchanges within twenty-four hours of its meeting, and entities must continue cooperation until required reports are filed.