Separate business unit compliance for debenture trustees receives a further extension, while existing operational conditions remain unchanged.
Compliance timeline for registered debenture trustees to transfer activities outside the securities regulator's purview to separate business units is extended until April 27, 2027. The extension addresses operational difficulties in establishing implementation systems and processes, alongside an ongoing review of the debenture trusteeship and separate business unit framework. All other terms and conditions governing such activities remain unchanged.

Export factoring support now uses IEC identification, defines filing triggers, and permits separate concurrent interest-subvention benefits.
Export factoring support eliminates declarations of intent and Unique Identification Numbers, using the Importer Exporter Code for applications, claims and disbursals. Factors must upload transaction-level data for eligible factoring modalities within applicable deadlines, while exporters review tagged records and submit consolidated monthly, digitally authenticated claims. Eligibility depends on Export General Manifest filing for exports from 20 February 2026. MSME exporters may concurrently access interest subvention, but cannot claim the same invoice, receivable or interest cost under both interventions.

Export refund eligibility broadens as removal of double-benefit restrictions applies to pending proceedings and earlier periods.
Rule 96(10) restricted IGST refunds on exports where exporters had availed specified concessional or exemption benefits on procurement, to prevent double benefit. Its omission is applied retrospectively from 23 October 2017 because no saving or sunset clause preserved pending proceedings. The General Clauses Act does not preserve proceedings following omission of a rule without an express continuation mechanism. Pending matters involving rule 96(10) are to be handled on that basis, with the same approach applying mutatis mutandis to omitted rules 89(4A) and 89(4B).

Export payment realisation through repatriable rupee accounts, permitted set-offs and net retention can satisfy GST export conditions.
GST export-of-services payment conditions are treated as fulfilled where consideration is received in convertible foreign exchange or through repatriable INR accounts, including SNRR, INR Nostro and NRE accounts, subject to applicable foreign-exchange requirements, foreign trade policy restrictions, RBI directions and other required permissions. Export receivables set off against import payables may satisfy the condition when undertaken in accordance with RBI directions. Net retention of an Indian reinsurance broker's commission may also satisfy the condition where foreign-exchange law extinguishes the obligation to realise and repatriate the relevant proceeds.

Input tax credit on demonstration vehicles remains available to authorised dealer-agents facilitating motor vehicle sales for manufacturers.
Input tax credit on demo vehicles used for customer test drives is not blocked for authorised dealers under the dealer-agency model, although manufacturers directly supply new vehicles to customers. Demo vehicles in both dealer-agency and traditional dealership models are purchased under tax invoices and serve the equivalent purpose of promoting vehicle sales through test drives. The expression "such motor vehicles" covers vehicles used to further the supply of similar motor vehicles, rather than only the identical vehicle sold. The previous restriction denying credit to dealer-agents is withdrawn.

Restricted input tax credit mechanism requires qualifying financial-service registrations to use consistent credit apportionment and return reporting.
Section 17(4) permits qualifying banking companies, financial institutions and non-banking financial companies to avail fifty per cent of eligible input tax credit instead of proportionate credit. A registration not engaged in deposit-taking, loans or advances cannot use the mechanism, while an election by one qualifying distinct-person registration requires all qualifying registrations of the same entity to comply. Same-PAN supplies receive the second-proviso relaxation only when both supplier and recipient have opted. Eligible credit must be reported, reversed, reclaimed and disclosed in FORM GSTR-3B through the prescribed non-IMS or IMS process.

Input Service Distributor credit allocation requires recipient-level eligibility and reversals, while intra-state credit transfers remain excluded from turnover.
Each registrant that receives input-service invoices for distinct persons and must distribute the related credit requires ISD registration. The ISD must distribute credit only to the recipient to whom it is attributable and must ascertain its prima facie eligibility before distributing it in the relevant month through FORM GSTR-6. Recipients remain responsible for credit eligibility and applicable reversals. Credit transferred by a same-PAN, same-State registrant to an ISD is a credit-transfer mechanism, not an outward supply, and is excluded from turnover and Net ITC refund computation.

GST appellate pre-deposits require full payment of admitted liabilities and prescribed deposit on disputed tax before appeals proceed.
GST appellate pre-deposit requirements require full payment of the admitted amount-tax, interest, fine, fee and penalty that the taxpayer accepts and does not challenge-before an appeal is filed. The contested balance is tax in dispute, and the statutory pre-deposit is calculated as ten per cent of that disputed tax. For an appeal before the Appellate Tribunal after modification of liability at the first appellate stage, the further pre-deposit is calculated on the disputed tax liability confirmed at that stage.

Show cause notice standards require evidence-based allegations, clear quantification, and meaningful hearing before determining GST demands.
Show cause notices must identify each noticee, factual allegations, supporting evidence, legal provisions, charges, demand basis, financial-year-wise quantification where possible, and reply procedure without prejudging liability. Fraud, wilful misstatement, or suppression-based demands require material showing deliberate intent to evade tax; non-payment or a discrepancy alone is insufficient. Adjudication requires a speaking order that evaluates the noticee's submissions and evidence, remains within the notice's grounds and quantified demand, provides issue-wise findings and calculation, and is electronically summarised on the portal.

GST registration applications require complete portal-based documentation, while Aadhaar authentication and simplified registration accelerate processing.
GST registration applications must be filed online using the form applicable to the applicant category, with complete and legible identity, business constitution, signatory, premises and other required particulars. Principal and additional business premises require accurate addresses and prescribed ownership, lease, consent, co-working or Special Economic Zone evidence. Aadhaar-authenticated applications generally follow the shorter processing timeline, while non-authenticated or risk-selected cases can require biometric checks or physical verification. Deficiencies must be addressed through the prescribed notice-and-reply process; unnecessary documents and subjective objections are excluded. Simplified registration provides automated processing for eligible small taxpayers subject to input tax credit restrictions.

Additional-fee waiver permits timely annual financial statement and return filings without extending statutory annual general meeting deadlines.
Companies may file financial statements for financial year 2025-26 in specified AOC-4 forms until 31 December 2026, and annual returns in MGT-7 and MGT-7A until 31 January 2027, without payment of additional fees. The relaxation does not extend the statutory time for holding annual general meetings, and later filings attract all applicable fees, including additional fees, from the original due date.

Institutional investor call-recording requirements become non-mandatory while research analysts retain interaction-record obligations for all clients.
Research Analysts and Research Entities are not required to maintain call recordings of interactions with institutional investors, but must retain legally verifiable records of client interactions. The obligation covers fee-paying, non-fee-paying, and prospective clients where conversations concern research services. Records may include signed physical records, call recordings, registered-email communications, SMS records, or other legally verifiable records; call recording is unnecessary where a digital footprint exists. Recordkeeping starts with the first interaction, ordinarily continues for five years, and extends through dispute resolution or preservation directions.

Standard Input-Output Norms enable uniform advance authorisation for specified doxycycline tablet and clobetasol propionate exports.
Four new Standard Input-Output Norms under Chemical and Allied Products prescribe import-product and quantity entitlements for specified doxycycline tablet and clobetasol propionate exports. The norms allow stated quantities of doxycycline USP (monohydrate) for three doxycycline tablet variants and betamethasone 17-propionate for clobetasol propionate. They facilitate expeditious issuance of Advance Authorisations by Regional Authorities and uniform application of input-output norms.

FEMA compounding delegation enables Regional Offices to process overseas investment, borrowing, lending, and guarantee contraventions under prescribed jurisdiction.
Powers to compound specified FEMA contraventions concerning overseas investments, borrowing and lending, and guarantees are delegated to select Regional Offices. Overseas investment applications must be filed according to the Unique Identification Number assigned to the relevant foreign entity, joint venture, or wholly owned subsidiary; cases without a UIN go to the Cell for Effective Implementation of FEMA at the Central Office. Borrowing, lending, and guarantee applications follow Regional Office jurisdiction based on the registered office or domicile, subject to the overseas direct investment exception.

Early pay-in margin waiver permits subsequent cash-segment positions within accepted securities value, subject to client-level risk controls.
Margin waiver for subsequent cash-segment buy or sell positions applies where a client has a net sell obligation and an Early Pay-In request for sold securities has been accepted. The clearing corporation shall not collect margin from the trading member or clearing member on subsequent client positions up to the accepted EPI amount. Available EPI value is the lower of the EPI completed and securities sold value. Squaring off an EPI-backed sale position removes the EPI value, with resulting margin shortfall blocked from proprietary collateral, except for trade-for-trade securities.

Enhanced due diligence in overseas trade transactions is urged following an unresolved quality-control and trade-dispute complaint.
DGFT advises heightened vigilance and comprehensive due diligence in commercial dealings with M/s Julfikar Fashions Limited, Bangladesh, following a Quality Control and Trade Dispute complaint. Trade stakeholders are advised to assess transaction risks before processing applications, providing financial or credit support, trade facilitation, certifications or recommendations. Adverse experiences, payment-related issues, contractual disputes and other relevant information should be promptly reported for examination and action. The precautionary measure seeks to alert trade participants to potential risks and safeguard Indian exporters.

PSIC exemption for metallic scrap imports applies only to designated origins, entry ports, safety certification, and screening conditions.
Imported metallic waste and scrap generally requires a Pre-Shipment Inspection Certificate from the country of origin. Shredded and unshredded scrap from designated safe countries or regions may be exempt where it is accompanied by a non-radioactive and non-explosive materials certificate, enters through specified sea ports, and undergoes mandatory radiation and explosive screening. Trans-shipments do not qualify. Exempt consignments may be cleared for home consumption at an eligible port or an Inland Container Depot upon proof that entry-port conditions were met.

Electronic certificates of origin enable preferential tariff claims when authentication, electronic filing, and single-use conditions are met.
Electronic Certificates of Origin issued by New Zealand issuing bodies are valid for preferential tariff treatment when issued in the prescribed format, authenticated by the issuing body's seal and authorized signature, and uploaded on e-Sanchit. Importers or Customs Brokers must accurately declare certification particulars in the bill of entry. A proof of origin may support only one importation, and system controls will prevent reuse of the same certification number. Post-importation preferential tariff claims are available for qualifying originating goods in transit or under customs control on 20 October 2026.

Raw sugar TRQ surrender deadline is extended, allowing holders to return unutilised allocations subject to prescribed CIF-value payment.
Unutilised tariff-rate quota (TRQ) allocations for raw sugar imports may be surrendered by holders until 15 November 2026. Surrender requires payment equal to 0.5% of the CIF value of the quantity returned under existing modalities. All other terms and conditions governing the raw-sugar TRQ remain unchanged, and the alteration is confined to the surrender timeline.

Tariff rate quotas establish certificate-based import authorisation, electronic customs debiting, annual limits, and prescribed quota windows for preferential imports.
TRQs for apples, kiwifruit, albumins and New Zealand MPI-certified Manuka honey operate through export certificates issued by New Zealand and electronic TRQ Authorisations issued to designated Indian importers. Applications must reference the relevant certificate or allocation, identify MSME status, and are transmitted to the Indian Customs EDI System. Imports are allowed only through electronic customs debiting. Authorisations are subject to annual quota limits, applicable CIF conditions and quota windows, remain valid only for the relevant quota year, and lapse to the extent unutilised.