Securities regulator allows separate intraday block-deal windows with price, size, timing, disclosure, settlement and surveillance rules
Securities regulator revises the Block Deal Framework: exchanges may offer separate block-deal windows within trading hours (08:45-17:00) with a Morning window 08:45-09:00 (reference: prior close) and an Afternoon window 14:05-14:20 (reference: VWAP 13:45-14:00; VWAP published 14:00-14:05). Orders must be within ±3% of the reference price, minimum INR 25 crore, result in delivery (no squaring off), and be subject to normal surveillance, settlement and risk measures; provisions apply to optional T+0 as well. Exchanges must disclose scrip, client name, quantity and price after market hours. Rules apply 60 days from issue; market infrastructure entities must update systems and bylaws.

Phased nationwide SCMTR 2018 rollout: Sea Arrival/Entry live Jan 16 2025; Departure live Aug 26 2025; full by Dec 31 2025
The circular directs implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR) 2018, noting phased roll-out: Sea Arrival Manifest and Sea Entry Inward implemented nationwide January 16, 2025; Sea Departure Manifest and its amendment live nationwide from August 26, 2025; Stuffing Message piloted at two sites from September 29, 2025; remaining messages to be operationalized by December 31, 2025. A task force will monitor rollout and stakeholders must file accurate electronic declarations per the Customs Act and SCMTR during the transitional extension to December 31, 2025. Regional chiefs must run weekly outreach; implementation issues to be reported to the DG Systems/authority.

Authorities clarify SEZ-to-SEZ and DTA-to-SEZ service exports not subject to FEMA; no SOFTEX or EDF filings required
Transactions for export of services between special economic zone units, and from domestic tariff area units to special economic zone units, are not subject to FEMA regulations and therefore do not require filing SOFTEX or EDF declarations. This clarification instructs zonal SEZ authorities to inform concerned parties that such intra-SEZ and DTA-to-SEZ service invoices need no SOFTEX reporting. The direction is issued with the concurrence of the central bank and approved by the competent authority.

Customs IT auto-approves identical IEC-bank-account-IFSC registrations across locations, bypassing manual port routing while preserving PFMS validation
The circular directs that registration requests for an incentive bank account and IFSC code for a given IEC will be automatically approved by the customs IT system at other customs locations if the identical bank account-IFSC-IEC combination has already been approved at any one location; submission workflow remains unchanged, system approvals will bypass manual port officer routing, and approved requests will continue to be sent to the financial validation system for PFMS validation. The measure implements earlier timing guidance, aims to streamline customs processing and trade facilitation, and asks users to report any operational difficulties to the Board.

From 01.10.2025, zero-rated and inverted-duty refund claims use risk-scoring; low-risk get 90% provisional, section 54(6) categories excluded
With effect from 01.10.2025, refund claims for zero-rated supplies will be processed by system risk-scoring: applications labeled low-risk shall receive 90% of the claimed amount provisionally, while non-low-risk claims will undergo detailed scrutiny; officials may refuse provisional payment in specific cases for reasons recorded. Notified categories under section 54(6) remain ineligible for provisional refunds. If final admissible amount is lower, recovery follows via show cause proceedings. As an interim measure, the same 90% provisional sanction applies to inverted duty structure claims filed on or after 01.10.2025. Jurisdictional commissioners must supervise implementation and report up the chain.

Authority extends Annual RoDTEP FY2023-24 filing deadline to 30.11.2025; composition fee Rs.10,000 applies for eligible exporters
The competent trade authority, exercising powers under the Foreign Trade Policy, has extended the deadline for filing Annual RoDTEP Returns for financial year 2023-24 to 30.11.2025, subject to payment of a composition fee of Rs.10,000; the previous deadline of 30.09.2025 is thereby superseded. The extension is issued to promote exports and facilitate ease of doing business, and applies to all eligible exporters required to submit the Annual RoDTEP Return for FY 2023-24.

Regulator allows AD Category-I banks to invest surplus Special Rupee Vostro balances in NCDs, bonds, commercial paper under FEMA
A central regulator directs Authorised Dealer Category-I banks to permit surplus balances in Special Rupee Vostro Accounts to be invested, with immediate effect, in non-convertible debentures, bonds and commercial paper issued by Indian companies, subject to the guidelines and limits set out in the referenced circular. Banks must notify their constituents. The instruction is issued under FEMA and does not override any other statutory permissions or approvals that may be required.

Regulator allows nonresident SRVA holders to invest rupee surplus in corporate NCDs, bonds and commercial paper under General Route limits
Regulator permits persons resident outside the country holding Special Rupee Vostro Accounts (SRVAs) to invest rupee surplus balances in non-convertible debentures/bonds and commercial papers of domestic companies, amending the Master Direction accordingly. Such investments are to be reckoned under the corporate debt investment limit under the General Route and remain subject to applicable FPI limits, except that minimum residual maturity and issue-wise limits do not apply via the SRVA route. SRVA holders and authorised banks bear primary compliance responsibility; banks must facilitate separate demat accounts and report transactions to registered depositories. The changes take effect immediately.

Tax board withdraws June 26 circular; no mandatory procedure now required for proving compliance with Section 15(3)(b)(ii) CGST
The tax board withdraws its earlier circular of 26 June 2024 that had prescribed a procedure for suppliers to provide evidence of compliance with Section 15(3)(b)(ii) of the CGST Act; the prescribed procedure is no longer required. The withdrawal is issued under the board's powers to ensure uniform law implementation across field formations. Authorities are directed to issue trade notices to publicize the change and to report any implementation difficulties to the board.

Amendment to Para 2.35 allows Regional Authorities to issue End User Certificates under ANF 2J for free and restricted items
The circular amends Para 2.35 of the Handbook of Procedures, 2023 to permit Regional Authorities (RAs) to issue End User Certificates (EUCs) for both freely importable and restricted items where required by a foreign government, based on an application under ANF 2J with prescribed documents. For restricted items, RAs may issue EUCs only when a corresponding restricted authorization has been granted by the competent trade authority and the EUC's quantity and value are strictly limited to those specified in that restricted authorization; the amendment is effective immediately.

Regulator allows banks to close export/import entries up to Rs 10 lakh on exporter/importer payment declaration
Regulator mandates that authorised dealer banks may close EDPMS/IDPMS export/import entries of value up to Rs.10 lakh per entry based on a declaration from the exporter/importer that payment was received/paid, including acceptance of reduced declared or invoice values; declarations may be consolidated quarterly for bulk reconciliation. Banks must review handling charges for such small-value transactions and must not impose penal charges for delays in regulatory compliance. Changes take immediate effect and will be reflected in the relevant master directions; directions are issued under FEMA and do not affect other statutory permissions.

Regulator extends foreign exchange outlay window for merchanting trade from four to six months; MTT remains nine months under FEMA
Regulatory authority revises merchanting trade transaction timing: the overall MTT completion period remains nine months, but the permissible period for outlay of foreign exchange is extended from four months to six months; commencement and completion dates (based on shipment/export receipt or import payment) remain unchanged. The change is effective immediately and applies to Authorised Dealer Category-I banks, which must inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999, and do not affect other statutory permissions or approvals.

From Oct 1, 2025 India-EFTA preferential Certificates of Origin issued electronically on Trade Connect; self-declare with DSC or via agencies
With effect from October 1, 2025, preferential Certificates of Origin for exports to Iceland, Liechtenstein, Norway and Switzerland under the India-EFTA Trade & Economic Partnership Agreement will be issued electronically on the Trade Connect ePlatform. eCOOs may be generated either by exporter self-declaration or via authorised issuing agencies; self-declaration requires a linked digital signature certificate (DSC) and upload of an ink-signed scanned signature, and produces downloadable electronic and printable copies with QR code and digital signature. Agency-issued eCOOs will carry the issuing officer's signature image and agency stamp. Users may log in with existing DGFT credentials, verify certificates via QR or platform lookup, and contact the CoO helpdesk for support.

Regulator extends rollout for retail API algo trading; phased registrations, mock testing, and compliance deadlines through April 1, 2026
The securities regulator extended the implementation timeline for its February 4, 2025 circular on safer retail participation in algorithmic trading, allowing ready stock brokers to go live October 1, 2025 and providing a glide path for others: register an API retail algo product and one strategy by October 31, 2025; complete product/strategy registration by November 30, 2025; and complete a mock session by January 3, 2026. Non-compliant brokers will be barred from onboarding new retail clients for API-based algo trading from January 5, 2026. Full framework becomes mandatory for all brokers from April 1, 2026; exchanges to monitor compliance and amend rules.

MCA extends fee-free filing deadline for DIR-3-KYC and DIR-3-KYC-WEB to 15 October 2025 after stakeholder requests
The Ministry of Corporate Affairs has extended the fee-free filing deadline for e-form DIR-3-KYC and web-form DIR-3-KYC-WEB from 30 September 2025 to 15 October 2025. The extension follows stakeholder requests and internal examination and has been authorized by the competent authority. The direction is issued to the Director General of Corporate Affairs, Regional Directors, Registrars of Companies, and other stakeholders to allow filing of the specified director KYC forms without payment of the filing fee until 15 October 2025.

Exports of non-basmati rice allowed from 24 Sept 2025 only with registered contracts and submitted registration documents
With effect from 24 September 2025, exports of non-basmati rice under specified ITC(HS) codes remain permitted but are conditional: export contracts must be registered with the designated agricultural export authority before shipment. The export policy is amended to require submission of contract registration documents to customs or relevant authorities as a precondition for allowing exports. Stakeholders must ensure no exports proceed unless the required registration documentation has been furnished and verified.

Regulator requires digital accessibility compliance: inventories by Sept 30, 2025; IAAP auditors; audits, remediation, and annual reporting deadlines
Regulator mandates digital accessibility compliance under disability law for all regulated entities, requiring submission of digital platform inventories by Sept 30, 2025; appointment of IAAP-certified accessibility auditors by Dec 14, 2025; initial accessibility audits by April 30, 2026; remediation and final audit reports by July 31, 2026; and annual audits with reports within 30 days of each financial year from April 30, 2027. Reporting routes and specified email formats are prescribed, with certain entity categories reporting via designated authorities and consolidated submissions required for entities with multiple platforms.

Customs extends CAVR for Linear Alkyl Benzene (HS 38170011) by one year effective 26 Sep 2025 under Rules, 2023
The customs authority, exercising powers under the Customs Act, 1962 and the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023, extends the validity of the prior CAVR order dated 18 September 2023 concerning Linear Alkyl Benzene (HS Code 38170011) for one year effective 26 September 2025; the extended order remains in force until 25 September 2026.

Tax authority extends audit report deadline from September 30 to October 31, 2025 for assessees under section 139(1) Explanation 2(a)
The tax authority, under its statutory powers, extends the specified date for assessees covered by clause (a) of Explanation 2 to sub-section (1) of section 139 to furnish audit reports for Financial Year 2024-25 (Assessment Year 2025-26) from 30 September 2025 to 31 October 2025. This extension applies to reports of audit required under any provision of the Income-tax Act for the stated year.

Export of 2G ethanol (HS 22072000) allowed on restricted authorization; comply with BIS 15464, DGFT and documentation rules
A trade notice clarifies that export of second-generation (2G) ethanol under HS 22072000 is permitted on a restricted authorization basis, defines 2G ethanol as cellulosic/lignocellulosic-derived product meeting BIS 15464, and sets compliance conditions including valid DGFT export authorization, quality and feedstock-origin certificates, accredited laboratory test reports, safety documentation, and conformity with destination requirements. Certificates of origin may be issued by the state excise authority or NABCB-accredited TPIAs linked to specific batches/invoices. Shipments may be inspected and non-compliance will attract FTP and legal action; the notice explains existing requirements only.