Limitation for redetermination: re-determination must be completed within two years and confined to timely-issued non-fraud demands.
When an appellate direction deems a fraud-based notice to be a non-fraud notice, the proper officer must issue the redetermination order of tax, interest and penalty within two years from communication of that direction. The redetermination must follow the non-fraud show cause framework and is limited to amounts for which the original notice was issued within the non-fraud time limit; notices issued beyond that time bar must be dropped, and for multi-year notices only amounts from years within the non-fraud limitation may be redetermined.

Limitation for GST re determination: redetermine tax only within prescribed limitation following appellate direction and compute interest and penalty accordingly.
Orders under directions deeming a section 74 notice to be a section 73 notice must be issued within two years from communication of the appellate direction. Re determination of tax, interest and penalty must follow section 73 read with section 73(10): only amounts for which a show cause notice could validly have been issued within the section 73 time window (including cases of erroneous refund) can be recovered; notices issued beyond that window are barred by limitation and proceedings must be dropped. For multi year notices, re determination applies only to years within the permissible time window.

Place of supply for transportation to foreign destination: treated as foreign, IGST chargeable and recipient may claim input tax credit.
Place of supply for transportation services where supplier and recipient are in India but goods move to a place outside India is the foreign destination; such services are treated as inter State supplies attracting IGST. Recipients in India may claim input tax credit of the IGST charged, subject to the eligibility and apportionment conditions in sections 16 and 17 of the SGST Act. Suppliers must report the place of supply in GSTR 1 by selecting the state code for foreign country.

Place of supply foreign destination: IGST applies and Indian recipients may claim input tax credit subject to CGST credit conditions.
If goods are transported from India to a destination outside India, the place of supply for transportation services is the foreign destination; the supply is an inter State supply attractable to IGST, and the Indian recipient may claim input tax credit of the IGST charged subject to the CGST Act's eligibility, apportionment and blocked credit provisions; suppliers must report such supplies in GSTR 1 using the foreign country option.

Input Tax Credit reconciliation: certified verification required when GSTR 3B claims exceed GSTR 2A to confirm admissibility.
Where ITC claimed in FORM GSTR 3B does not appear in FORM GSTR 2A for FY 2017-18 and 2018-19 due to suppliers' non filing, omissions, misclassification or wrong GSTIN, the proper officer shall require invoice level details and verify eligibility conditions for ITC: possession of tax invoice, receipt of goods/services, payment of value and tax to the supplier, and adherence to reversal and time limit provisions. To verify supplier payment, recipients must produce a Chartered Accountant/Cost Accountant certificate with UDIN when the annual difference per supplier exceeds a specified threshold; for smaller differences a supplier's declaration is acceptable.

Input Tax Credit verification: require auditor or supplier certification before allowing ITC where GSTR 3B exceeds GSTR 2A.
Procedure requires the proper officer to obtain invoices for ITC claimed in FORM GSTR 3B but not reflected in FORM GSTR 2A and verify Section 16 conditions: possession of tax invoice or debit note, receipt of goods or services, and payment of consideration including tax to supplier; check for reversals under Sections 17/18 and time limit compliance under section 16(4). To verify supplier payment of tax, require a CA/CMA certificate with UDIN for larger discrepancies and a supplier certificate for smaller discrepancies; relaxations for certain late claims in FY 2017 18 are restricted by proviso.

Waiver of late filing charges for bills of entry due to system maintenance allows belated filings for affected vessel entries.
Late filing charges for Bills of Entry are waived where belated filing was caused by planned continuous maintenance of the ICEGATE system; the waiver covers Bills of Entry relating to affected vessel Entry Inward dates and is issued as a standing order for departmental implementation, with stakeholders asked to report difficulties to the Deputy Commissioner of Customs (Appraising Main), Chennai II (Import).

Mandatory use of GST Field Visit app for submitting field visit reports, with non compliance treated seriously.
Mandates electronic submission of officer conducted field visit reports through the GST Field Visit app; all concerned officers and officials are directed to use the mobile application available on the Google Play Store for recording and submitting field visits with immediate effect, and non compliance will be treated seriously.

Electronic Preferential Certificate of Origin: eCoO introduced for India Australia trade with QR verification and DSC-based filing.
The eCoO platform will issue a single electronic Preferential Certificate of Origin for India-Australia trade, bearing the issuing officer's image signature and agency stamp, with authenticity verifiable by QR code or the portal's Verify Certificate function. Electronic submission requires a Digital Signature Certificate, preferably Class III with the exporter's IEC embedded; new exporters must register, receive credentials at the IEC holder's email and mobile, and ensure IEC branch details in the DGFT database are current. Help materials and helpdesk channels are provided on the portal.

Certificate of Origin (Preferential) agencies listed to allocate issuance by product and SEZ jurisdiction under the trade agreement.
Amendment designates agencies authorised to issue Certificate of Origin (Preferential) under the India Australia Economic Cooperation and Trade Agreement by listing issuing agencies and assigning product scope: central export inspection authorities for all products; sectoral export authorities for marine products, handicrafts, spices and cashew, coir, textiles, silk, tobacco and agricultural products; and special economic zone jurisdictions for all products manufactured by units and EOUs within their respective territories, with the foreign trade directorate and regional offices authorised generally.

Duty to report divergent liquidation decisions: liquidators must record reasons and submit reports on the Board portal.
Liquidators must record in writing any decision that departs from the Stakeholders' Consultation Committee's advice, state reasons for the divergence, and submit the written reasons and related records to the Adjudicating Authority and to the Board and include them in the next progress report. The Board has provided an electronic proforma on its website for such reporting, and insolvency professionals are directed to use that proforma.

RoDTEP rate implementation expanded to additional export sectors; exporters can claim benefit for eligible shipping bills.
Revised RoDTEP rates under an updated Appendix 4R expanding coverage to specified items in Chapters 28, 29, 30 and 73 have been loaded into the Customs EDI System; exporters may claim RoDTEP benefits for eligible shipping bills filed in the EDI System from the system effective timestamp, and operational issues should be reported to the Commissioner of Customs, Chennai-IV by email.

Import of pet animals: DGFT authorisation and quarantine NOC govern permitted permanent and temporary entries.
Import of pet animals (cats and dogs) is a restricted category subject to wildlife/CITES rules; commercial breeding imports are prohibited while pet dogs, R&D institutions with CPCSEA recommendation, and security forces qualify for exemptions. Permanent and temporary imports require DGFT authorisation except where baggage rules permit import of up to two pets on change of residence after two years abroad. Applications follow ANF-2M, must include vaccination/pet passport and supporting documents, and require Advance NOC from the Regional/Quarantine Officer with exporting-country health tests; designated ports and quarantine facilities apply.

ISIN allocation guidance: changes to security alone do not trigger a new ISIN when core issuance terms remain unchanged.
Clarification states that changes to the underlying security, creation of additional security, or creation of security for unsecured debt do not require a new ISIN provided core issuance terms (maturity, coupon, face value, redemption schedule or nature of the instrument) remain unchanged; Depositories shall not assign a new ISIN in such cases, and debenture trustees must ensure regulatory compliance when the underlying security changes.

Foreign Portfolio Investors master circular sets registration, KYC, investment limit monitoring, ODI issuance and reporting rules.
Master Circular consolidates SEBI guidelines for FPIs, DDPs and EFIs: it prescribes registration and continuance procedures, DDP due diligence and reporting, KYC and beneficial ownership identification and periodic review, segregation and reclassification rules, ODI issuance, hedging and reporting requirements, and detailed investment limit monitoring including red flag activation, breach handling, proportional disinvestment timelines and market specific position/auction/margining frameworks.

GST Council approves rate and rule changes, e commerce and registration reforms, data sharing and procedural clarifications; select items deferred.
The GST Council on 17 December 2022 ratified notifications and approved Fitment Committee rate/classification changes for specified goods and services, accepted Law Committee recommendations to amend CGST/IGST rules and forms (notably Aadhaar biometric pilot, registration verifications, GSTR 1/3B reconciliation mechanism, decriminalisation thresholds with exception for fake invoices, refund and interest computation rules, and e commerce procedural measures), approved limited relaxations on penal interest for initial bank remittance delays, endorsed masked GST data sharing with government departments, and deferred select contentious items for further examination.

Orderly winding down framework for clearing corporations mandates SOPs, resource retention, transfer/close out procedures and regulatory oversight.
Policy mandates board approved SOPs for orderly winding down of clearing corporations' critical operations upon voluntary, involuntary or regulatory triggers; identifies core functions to be maintained, procedures for transfer or close out of positions in interoperable and non interoperable scenarios, continued application of regulatory provisions during wind down, asset distribution subject to statutory dues and regulator contributions, maintenance and use of liquid resources to sustain critical services during wind down, and oversight by the Regulatory Oversight Committee with reporting to the regulator.

Performance benchmarking: portfolio managers must tag each investment approach to one strategy and select a prescribed benchmark.
Portfolio managers must tag each Investment Approach (IA) to one Strategy from Equity, Debt, Hybrid or Multi Asset, select one prescribed benchmark per IA from up to three benchmarks prescribed by APMI, and ensure board oversight. Changes to Strategy or benchmark require offering subscribers an exit without exit load, prohibition on using prior track record for reporting, documented justification and verification in the annual audit under Regulation 30.

Principles of Financial Market Infrastructures applicability extends to AMC Repo Clearing Limited, imposing PFMI compliance obligations immediately.
The circular applies the Principles of Financial Market Infrastructures (PFMIs) to AMC Repo Clearing Limited, noting that regulatory amendments enabling limited purpose clearing corporations and the formal recognition of AMC Repo Clearing Limited for repo and reverse repo in debt securities bring it within the PFMI compliance regime. The directive is effective immediately and is issued under SEBI's regulatory powers to protect investors and promote market development.

SIB module compliance for offline INS-01 cases governs enforcement recording and follow-up investigation entries.
Investigation & Enforcement and Mobile Squad units were directed to complete departmental SIB Module entries in all cases where offline INS-01 notices had been issued during special inspections. The instruction applies where further investigation proceedings were carried out for sensitive, practical, or functional reasons, and reiterates the requirement that entries in the departmental portal be made in accordance with the earlier circular. Subsequent action was to be completed as per rules by the specified deadline.