Commercial paper issuance by listed InvITs allowed subject to banking issuance norms, securities listing requirements and debt-limit compliance.
Listed InvITs with the requisite net worth may issue and list commercial paper provided they comply with banking issuance norms and directions governing commercial paper, adhere to securities listing requirements for non-convertible instruments and related circulars, and ensure such issuances remain within the overall debt limit prescribed for InvITs.

Listed commercial papers by REITs permitted subject to commercial paper guidelines, listing conditions and overall debt limits.
REITs meeting the prescribed net worth threshold may issue listed commercial papers provided they comply with the Commercial Paper Guidelines of the central banking authority, the listing conditions under the non-convertible securities listing regulations, and remain within the overall debt limit prescribed by the REIT regulatory framework.

GST system reforms group of ministers reconstituted with revised membership and unchanged terms of reference.
Partial modification of the earlier office memorandum on GST system reforms reconstitutes the Group of Ministers by specifying its revised membership and designating Shri Devendra Fadnavis as Convenor. The memorandum lists the members from several States and confirms that the other terms of reference remain unchanged.

Classification of mobile cranes: guidance hinges on movement under load and mechanical integration determining tariff characterisation.
Guidance distinguishes mobile lifting-and-handling machines for tariff classification by reference to movement under load, location of propelling and control elements, engine arrangement, and the degree of mechanical and functional integration between chassis and working machine. Machines that do not move under load or move only subsidiarily, and that locate propelling/control elements in the working-machine cab, are characterised as cranes; machines that move under load or merely have the working machine mounted on a general-purpose vehicle chassis are characterised as motor vehicles. Outriggers and integrated substructure supporting lifting function are indicative of crane classification.

Transitional credit filing window allows one-time filing or revision of TRAN-1/TRAN-2 with post-verification ledger credit.
A one-time portal window permits eligible registered persons to file or revise FORM GST TRAN-1/TRAN-2 for transitional credit, with edits allowed only until the portal "Submit" action freezes the form, after which filing requires DSC or EVC. Applicants must upload the Annexure A declaration and TRANS-3 where applicable, submit a self-certified copy to the jurisdictional tax officer within seven days, retain supporting records for verification, and understand that claims will be verified and adjudicated by officers, with allowed credit reflected in the Electronic Credit Ledger.

Firewall between credit rating agencies and affiliates strengthens separation, disclosure, and prohibition on shared rating scales.
CRAs must adopt and board-ratify a documented separation policy addressing shared infrastructure or personnel, measures to preserve independence of the credit rating process, and employee guidance to mitigate conflicts; disclose any common director or chief executive on the CRA website with monthly updates and archives; prohibit non-rating entities from using prescribed credit rating scales; maintain separate websites for CRA and non-rating entities; report compliance within one quarter of applicability and submit to half-yearly internal audit monitoring.

Geo-tagging of departmental assets through the UPCOG Geo Portal is directed for departmental use and monitoring.
Instructions are issued for geo-tagging departmental assets and use of the UPCOG Geo Portal in the Entertainment Tax and Commercial Tax Department, Uttar Pradesh. The circular requires subordinate officers to use the departmental Geo Portal for geo-tagging of public-use assets and for departmental activities. It also states that the login for the Entertainment Tax and Commercial Tax tabs is available with the Nodal Officer, Joint Commissioner (IT), State Tax Headquarters, who may be contacted for necessary action.

Transitional Credit filing window: one-time filing or revision of TRAN-1/TRAN-2 with prescribed verification and documentation.
Portal facility open October 1 to November 30, 2022 for aggrieved registered assessees to file or revise Form GST TRAN-1/TRAN-2 once; filings require electronic verification and upload of a prescribed declaration (Annexure A) and TRANS-3 where applicable; TRAN-2 claims must be consolidated, certain C-/F-/H/I-Form claims after the statutory cut-off are disallowed, assessees must submit a self-certified copy to the jurisdictional officer within seven days, retain supporting records, and accept that forms are editable only until ''submit'' after which they freeze; jurisdictional officers will verify claims, grant hearing, pass orders and reflect allowed credit in the electronic ledger.

Validation of Pay-In instructions: depositories must match client transfer details to clearing obligations before crediting TM Pool accounts.
Depositories must validate Pay-In transfer instructions from client demat accounts to Trading Member Pool accounts by matching instruction details (UCC, TM ID, CM ID, Exchange ID, ISIN, quantity, settlement details) against client-wise net delivery obligations provided by Clearing Corporations; matched instructions shall be executed and unmatched instructions rejected, with partial processing where instructed quantity exceeds obligation and the existing block mechanism maintained for Early Pay-In transactions.

Social Stock Exchange framework requires NPOs and social enterprises to meet registration, disclosure, and audited impact-reporting standards.
The circular establishes a regulatory structure for a Social Stock Exchange requiring NPOs, Social Enterprises and Social Impact Funds to meet eligibility criteria (Indian registration, valid tax certificates, minimum three-year track record, and minimum fund flows) and to comply with standardized initial disclosures for fundraising and annual/quarterly reporting. Registered entities must publish audited financials, governance and operational disclosures, and SEs must file a duly audited Annual Impact Report detailing strategy, baseline, metrics, beneficiary validation, risks and mitigation; Social Auditors must audit AIRs.

Transitional credit filing: one-time portal filing or revision allowed, subject to verification and officer scrutiny.
Guidelines allow aggrieved registered persons to file or revise Form GST TRAN-1/TRAN-2 on the common portal during a limited one-time window; forms may be edited only before submitting, after which they freeze and must be filed with DSC or EVC. Applicants revising must download prior submissions, upload Annexure A declaration and TRANS 3 if applicable, and deliver a self certified copy with supporting records to the jurisdictional tax officer within seven days. Claims are subject to officer verification, adjudication on merits, and, if allowed, reflection in the electronic credit ledger.

Compounding of offences: discretionary settlement permitted subject to eligibility, payment of dues, and prescribed charges and procedures.
Revised administrative framework permits discretionary compounding of offences under the Income tax Act by designated senior authorities upon meeting prescribed eligibility conditions: filing a stamped affidavit application, prior payment of outstanding tax, interest and penalty related to the offence, undertaking to pay compounding charges and withdraw related appeals, subject to specified timelines, verification by the assessing functionary, prescribed compounding fees and ancillary prosecution and litigation costs, exclusions for certain offences, and procedural safeguards including reporting to courts and ITBA processing.

Transitional credit portal access extended - eligible taxpayers may file or revise TRAN 1/TRAN 2 with required declarations.
Transitional credit filing and revision are permitted through the GST common portal as a limited one time opportunity allowing aggrieved registered persons to file or revise Form GST TRAN 1 or TRAN 2, subject to electronic verification, required annexed declaration and TRANS 3 where applicable, pre submission editing that is final upon submission and filing with DSC/EVC, and post filing verification and adjudication by jurisdictional tax officers whose orders will determine credit reflected in the electronic credit ledger.

Transitional credit filing window reopened; taxpayers may file or revise TRAN-1/TRAN-2 with required declarations and documents.
A time-bound, one-time facility on the GST common portal permits aggrieved registered persons to file or revise FORM GST TRAN-1/TRAN-2, electronically sign/verify submissions, and upload a prescribed Annexure A declaration; TRAN-1 claims based on Credit Transfer Documents must include TRANS-3. Forms must be submitted with DSC or EVC after freezing via the portal; a self-certified copy plus Annexure A and TRANS-3 (if applicable) must be delivered to the jurisdictional tax officer within seven days. Jurisdictional officers will verify claims, afford hearings, pass orders on merits, and reflect allowed transitional credit in the Electronic Credit Ledger.

Agreement to tolerate or refrain from an act determines GST liability; mere penalties or compensatory payments are not taxable.
Taxability requires that payments be consideration for a supply by way of an agreement to do, refrain from, or tolerate an act; mere compensatory or punitive payments arising from breach, statutory cancellation, or penalties without an agreement to tolerate or refrain are not consideration and are not taxable, whereas payments that constitute consideration for ancillary facilitation services (such as cancellation fees or late payment acceptance) are taxable and assessed with the principal supply unless the principal supply is exempt.

GST rate clarifications: exemptions and correct tax characterisation provided for multiple services including educational fees and vehicle rentals.
Clarifies GST treatment and rates for varied services: ice cream parlours are standard taxable supplies with input tax credit (past lower rate payments treated as fully paid); educational institution fees for entrance, eligibility and migration certificates are exempt; storage/warehousing of ginned or baled cotton was covered as raw vegetable fibre prior to withdrawal; transit cargo services to and from Nepal and Bhutan-including returning empty containers-are exempt subject to customs/transhipment and track and trace verification; vehicle rentals with driver are rental services (heading 9966) and not exempt goods transport; location charges paid upfront with long term lease are part of the exempt upfront amount; ART/IVF services qualify as health care services and are exempt.

Tax administration access expanded through scheduled taxpayer interactions with senior tax officials during designated weekly timeslots.
Senior tax officials from the Directorate will hold in person interactions with registered taxable persons and stakeholders in their jurisdictions during specified weekly designated timeslots; the circular lists responsible units, the senior officers for each office, and provides office addresses, while names, phone numbers and e mail addresses of designated officials are published on the Directorate website under the Ease of Doing Business tab.

Anonymised escalation mechanism enables importers and customs brokers to lodge anonymous assessment-delay grievances through ICEGATE for monitored resolution.
The Anonymised Escalation Mechanism enables importers and Customs Brokers to register anonymous ICEGATE grievances for delays in Bill of Entry assessment under faceless assessment. Tickets are routed in ICES to officers holding Virtual Designation Number or Actual Designation Number roles, according to whether assessment is pending at a Faceless Assessment Group port or the port of import. Tickets move with a transferred Bill of Entry, and close in the system upon completion of assessment.

Transitional credit filing window enables one-time portal filing or revision of TRAN-1/TRAN-2 with prescribed documentary and verification steps.
A one-time portal facility permits eligible registered persons to file or revise Forms GST TRAN-1/TRAN-2 for claiming transitional credit, requiring upload of the prescribed Annexure A declaration and TRANS-3 where applicable; editing is allowed only before portal "submit", after which the form freezes and must be filed with DSC/EVC. Applicants must submit a self-certified copy to the jurisdictional tax officer within seven days and retain supporting records. Tax officers will verify claims, grant hearing, pass orders on merits and, if allowed, reflect transitional credit in the electronic credit ledger.

Refund scrutiny under UPGST requires mandatory module entry and prioritised review of high-value sanctioned refund orders.
Refund orders passed under Section 54 of the UPGST Act involving sanctioned amounts exceeding Rs. 2 crore are to be scrutinised by the concerned Additional Commissioner Grade-1 and Additional Commissioner Grade-2 (Vigilance/Enforcement) on their logins, with the scrutiny result mandatorily entered in the relevant module. The instruction prioritises completion of pending scrutiny cases, including the highest-value matters in Gautam Buddha Nagar Zone, and requires officers in other zones to complete scrutiny of all available cases and make the requisite module entries.