Deemed approvals in GST registrations expose fraud; strengthen transfer, Aadhaar verification and supervisory reporting to prevent bogus GSTINs.
Deemed approvals and deficient transfer and verification procedures have permitted fraudulent GST registrations. The circular requires transfers of applications within two days with written and telephonic intimation to specified officers, forbids forwarding to disbanded circles/LTUs or retaining new STU registrations, and mandates verification where Aadhaar authentication details mismatch or where prior registrations on the same PAN were cancelled for fraud. It imposes monthly proforma reporting, six month transaction monitoring of new registrants, field verification after deemed approvals, and supervisory review with disciplinary consequences for non compliance.

General Authorization for Export of Drones permits one-time licensing for specified low-capability UAVs with strict eligibility, reporting and compliance.
Amendments create a General Authorization for Export of Drones (GAED) permitting one time SCOMET export authorisations for specified UAVs meeting capability limits, conditional on online ANF 10G application, technical specifications, destination list, signed End Use Certificates in Appendix 10J(i), an undertaking permitting inspections and prohibiting unauthorised use, proof of an Internal Compliance Programme, pre export contractual evidence of permitted end use, quarterly post shipment reporting for three years, five year record retention, and exclusions for military, WMD, sanctioned or proliferation sensitive destinations; GAEDs last three years and may be suspended or revoked for non compliance.

Inclusion of Export Promotion Council for Medical Devices authorizes issuance of RCMC for specified medical device items with immediate effect.
Amendment adds the Export Promotion Council for Medical Devices to Appendix 2T of the Foreign Trade Policy 2023, authorising it to issue Registration Cum Membership Certificates (RCMC) for a detailed list of medical devices and ancillary products. The inserted entry specifies the Council's registered office and an extensive catalogue of items-ranging from disposables and diagnostic kits to imaging apparatus, surgical instruments, implants, protective garments and related parts-covered by its jurisdiction. RCMCs already issued by the previously named council remain valid until their expiry, and the change takes immediate effect.

Examination of export goods extended to two shifts, enabling customs clearances 9 AM-9 PM and registrations till 8 PM.
Examination of export goods at CWC Distripark (Conex) CFS will operate in two shifts with officers available 9 AM-9 PM (shifts 9 AM-5 PM and 1 PM-9 PM) to carry out regular customs clearances for all types of Shipping Bills; shipping bill registration is allowed from 9 AM-8 PM.

Tariff Rate Quota procedures govern Nepalese copper and zinc oxide imports through designated land stations, with electronic allocation and monitoring
The Directorate General of Foreign Trade is responsible for allocating and monitoring Tariff Rate Quota imports under the Revised India-Nepal Treaty. The quotas cover 10,000 metric tonnes of copper products and 2,500 metric tonnes of Zinc Oxide from Nepal. Indian importers must apply online for certificates, provide the Nepalese exporter's TRQ reference, and ensure that the certificate contains importer, Importer-Exporter Code, tariff, quantity and validity details. Authorisations are issued electronically and transmitted to the Indian Customs EDI System. Imports require electronic or endorsed debit, and certificates remain valid for up to 12 months or until the financial year ends.

Maintenance of Call Book pauses adjudication where identical issues are pending on appeal, requiring supervisory transfer and notice.
Maintenance of a call book is required to defer adjudication of Show Cause Notices where identical issues are pending on appeal or where injunctions stay decision-making; SCNs under Sections 73(1) and 74(1) must be transferred with supervisory approval and taxpayers notified. Cases are to be restored to adjudication when controlling grounds cease or appellate decisions attain finality without further approval. Offices must keep a prescribed call book format, update it, and submit to monthly supervisory review, with each file verified rather than relying on statistical abstracts.

Audit Monitoring Committee procedures require deliberation of draft audit reports before issuing final audit reports under GST compliance.
Prescribes that after verification the Audit Division shall prepare a Draft Audit Report (DAR) recording observations, legal provisions and revenue impact and circulate it to zonal, jurisdictional and taxpayer-service officers within specified short timelines. The DAR is forwarded to Audit Headquarters, reviewed by taxpayer services, and deliberated in a monthly Audit Monitoring Committee (AMC) chaired by the Additional Commissioner (Audit). The AMC will assess sustainability of observations, direct further examination if required, and its decisions on settlement of audit objections are final. Minutes must be circulated within seven working days, after which the Deputy Commissioner finalizes the Final Audit Report (FAR) and serves it in FORM GST ADT-02 on the common portal.

Remittances to IFSCs under LRS now permitted for payment of foreign university fees for approved courses.
Remittances to International Financial Services Centres under the Liberalised Remittance Scheme are authorised for payment of fees to foreign universities or institutions in IFSCs for courses specified in the cited gazette notification, under the purpose head studies abroad in Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Authorised Persons must facilitate these remittances and notify their customers; the directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.

Trading Preferences: brokers must register clients on all active exchanges for opted segments, with opt-out via negative consent.
Requires brokers to register new clients on all active stock exchanges for chosen segments and to offer existing clients default access on all active exchanges for segments already opted into, with notification via email/SMS and provision for client negative consent (opt-out); brokers must activate/deactivate segments per client preference and exchanges must amend rules, monitor compliance through half-yearly audits/inspections and report monthly to SEBI.

Issue and Disclosure Requirements: consolidated Master Circular mandates standardized disclosures, rights issue mechanics and enforcement protocols.
The Master Circular consolidates SEBI directions under the ICDR Regulations, rescinds listed prior circulars while deeming past actions and pending applications under those circulars as having been taken under corresponding provisions here. It prescribes a fine and enforcement framework for non-compliance, standardized rights issue procedures including dematerialized rights entitlements and mandatory ASBA, revised abridged prospectus and cover disclosures with KPI substantiation, mandatory online filing and an Issue Summary Document regime in structured format, retail compensation rules for ASBA failures, and rules for NCDs with warrants and Innovators Growth Platform investor recognition.

Dematerialisation of AIF units mandated: schemes must convert and issue units only in dematerialised form with depositories enforcing transfer controls
Dematerialisation of AIF units is mandated with phased timelines for conversion and for issuance only in dematerialised form; schemes maturing on or before the specified cutoff are exempt. Transfers of dematerialised units continue to be governed by the PPM and investor agreements, and any transfer requiring AIF/manager approval must be processed in the depository system only after such approval. Depositories must amend rules and implement transfer controls; managers must report compliance via the intermediary portal and trustees/sponsors must ensure the Compliance Test Report reflects these requirements.

Valuation standards for AIF portfolios require prescribed methodologies, independent valuers, and enhanced investor disclosures.
A tiered valuation framework mandates that securities covered by mutual fund norms follow those norms, while other securities follow industry endorsed valuation guidelines; Managers must disclose valuation methodology in the PPM. Managers must ensure an independent valuer performs valuations, retain responsibility for true and fair valuation, document any deviations from established policies, notify investors of significant valuation deviations with reasons, treat methodology changes as material and disclose annual PPM details of methodology and accounting changes and their valuation impact.

Liquidation scheme option requires investor consent and specified bidding procedures in the liquidation period for unsold AIF assets.
SEBI permits AIFs during the liquidation period to sell unliquidated investments to a designated Liquidation Scheme or distribute them in-specie after obtaining 75% investor consent by value. The manager must arrange a bid for at least 25% of the unliquidated investments, disclose the bid and two independent valuations, and offer dissenting investors an exit from the 25% bid; bidders related to the scheme cannot take exit. For performance reporting the sale or distribution is valued at the bid value if the 25% bid condition is met, otherwise at one rupee. Managers must report compliance and values to SEBI portals and Performance Benchmarking Agencies.

Mandatory additional qualifiers required in import/export declarations from filing; specify IUPAC/CAS and product, plant or surface details.
Mandatory additional qualifiers are required at the time of filing. Imports must include the IUPAC name and CAS number of constituent chemicals for chapters 28, 29, 32, 38 and 39. Exports must include the medicinal plant name for parts under chapter 12, the formulation name for chapter 30 formulations, and the surface material contacting the chemical for chapter 84. These fields are additional to existing declarations and must be furnished as specified in the annexure.

Customs duty collection and duty drawback banking authorization - designated treasury branch approved for ICD Marripalem operations.
A designated treasury branch is authorized to collect customs duty and pay duty drawback for ICD Marripalem (INGNR6); the banking arrangement names a focal bank branch, places the activity under the Commissionerate of Customs (Preventive) Vijayawada with the jurisdictional Pay & Accounts Office handling accounts, and designates the Assistant/Deputy Commissioner to issue cheques for drawback. The change follows GST implementation and the notice operates as a standing order; operational issues are to be reported to the specified departmental email.

Modification of Standard Input-Output Norms: revised import entitlements for export of refined soybean oil under export policy
SION E-121 is amended to revise import entitlements for export of Refined Soyabean Oil (edible grade). The amendment lists permitted imported inputs per unit of export-Crude Soyabean Oil (edible grade), Caustic Lye (48%), Phosphoric acid, Citric acid, and TONSIL Bleaching earth-and prescribes quality ranges for the crude soyabean oil at import covering free fatty acids, phosphorus, moisture, and insoluble volatiles.

Relaxation of additional fees for late DPT-3 filing extended to 31 July 2023 due to MCA-21 portal transition.
Relaxation permits filing of Form DPT-3 for the financial year ended 31 March 2023 without payment of additional fees for late submission; the normal due date was 30 June 2023 and the waiver allows filing without additional fees up to 31 July 2023 due to the MCA-21 Portal transition.

Wheat export quota allocation on humanitarian grounds: pro rata distribution to eligible exporters, online applications required with landing certificate obligation.
Exports of wheat are prohibited except for shipments covered by pre existing irrevocable payment instruments or by government to government food security permissions; Nepal's request was approved. Eligible exporters (those who exported to the requesting country in the three prior fiscal years) may apply online through DGFT's ECOM system, subject to a minimum land transport threshold. Allocation is pro rata to three year average exports and applied quantity, with reallocation of unutilized amounts. Export Authorisations will be valid until the fiscal year end and allocated exporters must submit a Landing Certificate within one month of completing the export.

Export of broken rice on humanitarian grounds permitted only with government approval, quotas allocated pro rata to prior exporters.
Exports of broken rice are prohibited except where the Government authorises shipments to meet another country's food security request; approved requests trigger a transparent quota allocation by online application. Eligible exporters are those who exported rice to the requesting country in the three years prior to prohibition. Allocation is pro rata to three year average exports or quantity applied for, subject to a minimum sea shipment threshold; unutilized quantities are reallocated pro rata. Applicants must apply online with three year export data, and exporters must submit a Landing Certificate within one month after completing exports.

Scheme of Arrangement filings: SEBI master circular mandates pre filing disclosures, valuation and shareholder protections.
This Master Circular consolidates SEBI requirements for a Scheme of Arrangement and procedures for seeking relaxation under Sub rule (7) of rule 19 SCRR. It mandates pre filing with a designated stock exchange of the draft scheme and specified documents including valuation reports, fairness opinion, auditor's certificate, compliance and complaints reports, and creditor NOCs; requires web disclosure and public shareholder e voting protections where shareholding or related party interests change; sets valuation, accounting and lock in conditions for schemes involving unlisted entities; and prescribes eligibility and additional conditions for listing without an IPO and for listing non convertible instruments.