Amendment to authorized agency updates name and contact details for Certificate of Origin issuance.
Amendment to the Appendix 2E entry authorizing issuance of Certificate of Origin (Non Preferential): Ernakulam Chamber of Commerce is renamed Kerala Chamber of Commerce & Industry and its postal address, email contact ([email protected]) and mobile numbers are revised in the Kerala listing of authorized agencies.

KYC validation obligations strengthened: KRAs must validate Aadhaar-based records and issue reusable KRA identifiers.
SEBI mandates KRAs to securely store KYC data and independently validate records where Aadhaar was used as an OVD, authenticating Aadhaar via UIDAI, verifying mobile/email by OTP when not Aadhaar seeded, and checking PAN against the Income Tax database. KRAs must notify RIs of deficiencies, develop uniform validation systems and integrate with RIs, assign a unique KRA identifier on successful validation for client reuse, and retain proof of communication; non Aadhaar OVD records will be stored but not validated unless Aadhaar is provided.

Undervaluation relative to MRP: detention solely on that basis prohibited; procedural verification and reporting required before action.
Detention of goods in transit solely because invoice value is below MRP is impermissible; intelligence squads must not detain or issue show cause notices on that sole ground. Suspected undervaluation must be recorded by uploading invoice details via the Mobile App and reporting to the jurisdictional officer and district Joint Commissioner. Intelligence squads must collect documentary evidence of actual supply value and classification, after which the jurisdictional officer shall verify and then take any further action as provided by law.

UPI limit increase requires UPI use and UPI ID submission for eligible retail public-issue applications via specified intermediaries.
Revision of Unified Payment Interface (UPI) transaction limit for ASBA payments requires all individual investors whose application amount does not exceed the revised per-transaction cap to use UPI and provide their UPI ID in the bid-cum-application form when applying through a syndicate member, eligible stock broker, eligible depository participant, or eligible registrar to an issue and share transfer agent; the change is operative for public issues opening on or after the stated effective date.

Input Tax Credit reporting: taxpayers must correctly declare ineligible ITC and reversals in GST returns to ensure fund settlement.
Correct reporting of Input Tax Credit of IGST on interstate and import supplies in GSTR 3B is required because settlement and apportionment of IGST funds depend on these disclosures. Reversals under Rules 42/43 and Rule 37 must be reported in Table 4(B); ineligible ITC under Section 17(5) in Table 4(D)(1); and blocked or other ineligible credits under Section 17(4) and Rule 38 in Table 4(D)(2). Omissions for FY 2021-22 are to be rectified in GSTR 9; from FY 2022-23 onwards corrections must be made in the subsequent GSTR 3B by giving the net effect.

Demat Debit and Pledge Instruction authorizes broker access to client demat for settlement and pledging, subject to client consent.
SEBI prescribes a Demat Debit and Pledge Instruction (DDPI), executable only with explicit client consent and e-signature, to authorize brokers/DPs to transfer securities for exchange settlement obligations and to pledge/re-pledge securities for margin purposes; transfers under DDPI must be matched with client-wise net delivery obligations, credited only to the client's trading member pool account, registered in the client's demat account, and revocable by the client, while brokers/DPs may not compel execution of DDPI or deny services for refusal.

Track and Trace requirement extended for export pharmaceutical packaging parent child data to allow further compliance time.
The Director General amended Para 2.90A of the Handbook of Procedure to defer the implementation date in sub paras (vi) and (vii) for the Track and Trace system; exporters and manufacturers must maintain and upload the Parent-Child relationship between packaging levels and related movement data on the Central Portal, with the extension applying to both SSI and non SSI manufactured drugs.

Standardisation of rating scales extended: credit rating agencies must comply with section B requirements by June 30.
SEBI has extended the date for applicability of section B of its July 16, 2021 circular on standardisation of rating scales; all registered credit rating agencies must ensure compliance with the section B requirements on or before June 30, 2022, aligning scales with relevant financial-sector regulator-prescribed scales or Board-prescribed scales where applicable.

Credit rating agencies must adopt a harmonised industry classification for ratings, benchmarking and research from Oct 1, 2022.
Credit rating agencies must apply the harmonised four level industry classification framework for rating exercises, peer benchmarking and research, with mandatory applicability from October 1, 2022; agencies may submit feedback before that date while exchanges may recalibrate the framework where feasible, and the requirement is issued under statutory regulatory authority to protect investor interests and promote market development.

Audit extension: GST audit completion period extended for affected cases due to COVID-19 related delays under commissioner's proviso.
The period for completion of GST audits that commenced in January 2022, covering taxable periods beginning on or after 1 July 2017 and ending on or before 31 March 2018, is extended by two months beyond the three month completion period because COVID-19 disruptions prevented timely completion; the extension is issued by the Commissioner under the proviso to the audit completion provision and takes immediate effect.

Discontinuation of pooling of mutual fund transactions extended and requiring mandatory two factor authentication for redemptions.
Extension of the compliance timeline for the discontinuation of pooling of funds and/or units in mutual fund transactions and related safeguards, including Two Factor Authentication for redemptions and source account verification; modification that new mandates accepted after the revised applicability date must be in favour of SEBI-recognized Clearing Corporations and exclusively for subscriptions to mutual fund schemes; obligations on AMCs, Stock Exchanges, Depositories, Clearing Corporations and RTAs to implement the Circulars and follow the activity-specific timelines in Annexure A.

Co-developer approvals and LoA extensions confirmed, subject to tax and customs conditions and DoC leasing instructions.
The Board approved extensions of formal approvals, Letters of Approval, and in principle approvals for multiple SEZ developers and units, and granted co developer status to several entities for defined infrastructure, operational and service roles. All approvals are subject to execution of co developer agreements, standard SEZ Act and Rules conditions, and explicit compliance with the conditions and observations of CBDT and CBIC; lease periods must follow DoC Instruction No. 98. The Board deferred a restricted items FTWZ request and recommended conditional renewal of plastic recycling LoAs pending MoEF&CC/CPCB audit and regulatory compliance.

GST Audit Module Implementation requires all audit work to be executed on the GSTN platform with role allotment and IT support.
Implementation of the GST audit module mandates that all GST audit work and entries be executed exclusively on the GSTN audit module; login credentials have been issued and sub state admins must allot roles to officers. Cases with proceedings already initiated on the departmental portal will continue there, while cases with no action must be processed on the GSTN module on the boweb portal. Report technical problems to the GST audit/IT headquarters email addresses; IT support handles roll allotment issues. Compliance is mandatory.

Extension of handbook validity extends operative period, modifying specified paragraph expiry dates in the Handbook of Procedures.
The public notice amends the Handbook of Procedures 2015-20 to extend its validity, substituting expiry references so the handbook shall remain in force until 30.09.2022; paragraph 3.20(a) is adjusted to read with 30.06.2022 as the comparative date, and paragraph 4.12(vi) is similarly updated.

Electronic filing deadline for Form 10AB extended to permit later submissions for institutional registration and approval.
CBDT, exercising administrative powers, extends the electronic filing deadline for Form No.10AB: applications for registration or approval under the income tax provisions relating to institutions, whose original last date falls on or before 29 September 2022, may be filed by 30 September 2022; the extension addresses difficulties with electronic filing implemented w.e.f. 01 April 2021.

Assignment of functions clarified: new statutory provisions define officer classes and assignment limits affecting jurisdiction and faceless assessment.
Amendments expressly empower the Board, Principal Commissioners or Commissioners to assign functions to defined classes of customs officers through newly inserted sub sections of section 5, allow imposition of conditions or territorial/subject limitations and concurrent exercise of powers for work management, and insert section 110AA to confirm that the officer who originally exercised jurisdiction retains exclusive authority to take consequential statutory action following inquiry, investigation or audit; notifications implement appointments, adjudication allocations, audit assignments and faceless assessment arrangements.

Rebalancing timelines for mutual fund portfolios impose rebalancing, disclosure, and operational restrictions for prolonged asset allocation deviations.
Timelines require schemes (excluding overnight, index and ETFs as specified) to rebalance mandated asset allocations within a prescribed business-day period for passive breaches; the Investment Committee may extend timelines on written justification. Failure to rebalance after mandated plus extended periods leads to restrictions on launching new schemes and prohibition on levying exit load for investors exiting affected schemes. AMCs must report deviations to trustees at each stage and, where the deviated portfolio exceeds a specified proportion of the main portfolio, immediately notify investors by SMS and email/letter about the breach and subsequent rebalancing, using a uniform subject line; periodic disclosures must reflect ongoing deviations. The norms apply only to main portfolios.

Related party transactions: newly material transactions must be placed for shareholder approval under revised materiality rules.
Clarification on Regulation 23 confirms that RPTs approved by the audit committee and shareholders before the operative date need no fresh approval; existing pre notification contracts that continue and become material under the revised materiality threshold must be placed for shareholder approval at the first general meeting after the operative date; and omnibus audit committee approvals must still be presented to shareholders when transactions are material under Regulation 23(1).

Specified date for proviso to rule 114AAA designated, clarifying when that proviso becomes applicable under the Income tax Rules.
The Central Board of Direct Taxes formally designates the first day of April, 2023 as the specified date for the proviso to sub rule (2) of rule 114AAA of the Income tax Rules, 1962, providing a clear temporal point for the proviso's applicability under that rule.

Natural justice in GST adjudication requires a mandatory personal hearing before adverse orders are passed.
Strict compliance with the principles of natural justice under Section 75(4) of the CGST/UPGST Act, 2017 was directed in GST adjudication proceedings where an adverse decision was contemplated. The communication forwards the High Court's order and instructs all officers and assessing authorities to adhere to the mandatory opportunity of personal hearing and the broader principles of natural justice while acting under the GST law. It also notes that the impugned adjudication order under Section 74 could not be sustained because the dealer was not afforded the required hearing.