E-invoicing obligations apply to supplies made to government entities registered for TDS, requiring issuance of e-invoices.
Suppliers whose turnover exceeds the e-invoicing threshold must issue e-invoices for supplies to Government Departments, agencies, local authorities, and PSUs that are registered solely for tax deduction purposes; such entities are treated as registered persons and therefore fall within the scope of the e-invoicing obligation under the relevant rule. The Commissioner directed uniform implementation, publicity via trade notices, and reporting of any implementation difficulties.

Input tax credit availability tied to GSTR-2B for refund claims, impacting refund admissibility and procedures.
Refund of accumulated ITC under Section 54(3) is restricted to ITC reflected in FORM GSTR-2B for the relevant tax period or any prior tax period where the credit is available, applicable to refund claims from January 2022 onward. FORM RFD-01 undertaking is amended to remove references to the omitted Section 42 and deleted GSTR-2/GSTR-3, while applicants must still undertake repayment with interest if clause (c) of sub-section (2) of section 16 is not complied with. Refunds of integrated tax paid under Rule 96A are admissible upon subsequent export or receipt, but interest paid is not refundable.

Taxability of holding shares: mere holding of subsidiary equity is not a taxable supply absent a supply under law
Holding shares in a subsidiary by a parent company is neither goods nor services and, absent an actual supply as defined in section 7 of the UPGST Act, cannot be treated as a taxable supply under GST; a SAC entry for holding companies is not determinative of taxability.

Warranty replacement GST treatment: no GST where no consideration; additional charges attract GST and normal ITC rules.
Where replacement parts or repair services are provided during a warranty period without separate consideration, their cost is treated as included in the value of the original supply and no further GST is chargeable; if additional consideration is charged, GST is payable on that additional supply. Input tax credit need not be reversed by the manufacturer for warranty replacements provided without consideration. Distributor arrangements vary: taxable invoiced supplies to manufacturers allow ITC, manufacturer-provided parts to distributors without charge attract no GST or ITC reversal, and distributor-provided repair services invoiced to the manufacturer are taxable with ITC availability for the manufacturer. Extended warranty sold at original supply is a composite supply; sold later is a separate taxable contract.

TCS collection responsibility allocated to supplier-side platform remitting payment; if supplier is also a platform, buyer-side platform collects.
Where multiple e commerce operators participate in one supply, the supplier side ECO who ultimately releases payment to the supplier must collect TCS, remit it to the Government, and fulfil other compliances under section 52 if that ECO is not the supplier. If the supplier itself is an ECO, the buyer side ECO that collects payment and makes the remittance is required to collect TCS and comply with section 52.

Input tax credit mismatch: guidance limits allowable excess ITC to specified caps and ties eligibility to supplier reporting.
Clarification explains that transitional rule-based caps permitted registered persons to claim ITC in GSTR-3B in excess of GSTR-2A only up to specified limits during successive sub-periods, subject to the substantive condition that tax on the supply was paid by the supplier; verification and documentation requirements from the earlier circular apply, amounts beyond the applicable cap are inadmissible, cumulative adjustments for certain grouped months must be made as directed, and from the later amendment ITC is allowable only as communicated in FORM GSTR-2B.

Interest on wrongly availed IGST credit depends on the total electronic ITC balance, not IGST head alone.
For calculating interest in cases of wrongly availed IGST credit, the total input tax credit available in the electronic credit ledger across IGST, CGST and SGST heads taken together must be considered. No interest arises if, from wrongful availment until reversal, that combined balance never falls below the wrongly availed amount; interest applies to the extent the combined balance falls short. Compensation cess credit is excluded from the combined balance and cannot be used to offset IGST, CGST or SGST liabilities.

Authorization of Booking Post Offices enables electronic filing of Postal Bill of Export and acceptance of international consignments.
The Department of Posts has authorised specified Booking Post Offices with Dak Ghar Niryat Kendra (DNK) facility for electronic filing of the Postal Bill of Export (e PBE) and acceptance of international mail articles; each Booking Post Office is mapped to a corresponding Foreign Post Office or air/sea gateway to enable export transmission and customs processing under the Postal Export (Electronic Declaration and Processing) Regulations, 2022.

Online dispute resolution requirement: market participants must enrol on the ODR Portal and follow amended procedural rules.
All Market Participants must enrol on the ODR Portal within prescribed timelines, with enrolment and electronic execution of terms with MIIs and ODR Institutions deemed complete at the end of those timelines; investors must first pursue redress with the Market Participant and through SCORES before initiating ODR, and disputes pending before courts, tribunals, arbitral processes, consumer forums, non-arbitrable matters or those affected by insolvency proceedings are excluded.

Commodity derivatives master circular consolidates SEBI rules on trading, products, risk management, disclosures and tech resilience.
SEBI's Master Circular consolidates and updates the regulatory framework for the commodity derivatives segment, rescinding specified prior circulars while preserving prior actions and pending applications, and mandates compliance by recognized stock exchanges and clearing corporations. It prescribes operational norms (trading hours, transaction charges, UCC/PAN, disclosures), product governance (eligibility, PAC oversight, contract approval), risk management (DPL, position limits, margining, SGF, stress testing, cross margin) and participant, technology and cyber resilience standards, including an SOP and tiered financial disincentive for technical glitches and disaster recovery failures.

Validity period for overseas investment approvals shortened to four months, requiring quicker utilisation or reallocation of unutilised limits.
Prior approvals for overseas investments granted to Alternative Investment Funds and Venture Capital Funds must be utilised within four months of grant; unutilised limits may be reallocated to other applicants, and the reduced timeframe applies prospectively to approvals issued after the circular.

Confiscation of seized gold: owner given fifteen days to produce proof or customs will proceed with disposal.
Two gold bars and two gold chains (total weight 361.4 gms) were seized for alleged smuggling; an order directed absolute confiscation of the items and imposed a penalty, the departmental revision upholding that order, and the customs office now notifies the owner to produce legitimate proof or justification within fifteen days or the goods will be disposed under departmental procedure.

Interest on wrongly availed IGST credit depends on aggregate ITC across heads; compensation cess excluded.
For interest calculations on wrongly availed IGST credit and its reversal, the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger is to be considered; no interest arises if that aggregate never falls below the wrongly availed amount, while interest is attracted to the extent the aggregate balance falls below it. Compensation cess credit is excluded from this aggregation as it cannot be used to discharge IGST, CGST or SGST liabilities.

Input Tax Credit reconciliation: transitional limited additional ITC allowed where supplier details missing, subject to verification and caps.
Clarification applies earlier circularal guidance to reconcile ITC claimed in FORM GSTR 3B with GSTR 2A for 01 04 2019 to 31 12 2021, confirming that transitional rule 36(4) allowed additional ITC where supplier details were missing subject to the statutory condition that tax was paid by the supplier and subject to specified percentage caps for applicable sub periods; excess ITC beyond those caps is not admissible even if certificates are submitted. The circular also notes cumulative adjustment rules for certain months and limits application to ongoing proceedings for the period.

TCS rules: supplier-side ECO who pays the supplier collects TCS; if supplier is an ECO, buyer-side ECO collects TCS.
The circular applies the CBIC guidance under Section 52 to state implementation and clarifies TCS compliance where multiple E commerce Operators participate: if the supplier side ECO is not the supplier, the supplier side ECO who ultimately pays the supplier must collect and deposit TCS and perform Section 52 compliances; if the supplier side ECO is itself the supplier, the buyer side ECO that collects payment must collect and deposit TCS and undertake Section 52 compliances.

ITC for warranty replacements not reversed when no separate consideration; additional charges for parts or repairs attract GST.
Replacement parts or repair services supplied during an original warranty period without separate consideration are included in the value of the original supply, attract no additional GST and do not require reversal of Input Tax Credit. Additional consideration charged for replacements or repairs is taxable. Distributor scenarios are treated according to whether the distributor invoices the manufacturer, uses manufacturer-supplied parts without charge, or adjusts supplies via credit note; repair services charged to the manufacturer are taxable and ITC may be claimed by the manufacturer.

Holding of shares not a taxable supply - mere shareholding in a subsidiary does not attract GST.
Securities, including shares, are neither goods nor services; mere holding, purchase or sale of shares by a holding company does not, by itself, constitute a supply. A classificatory service code for holding companies is not conclusive; GST applies only if there is a supply as defined by law. Therefore, holding shares in a subsidiary cannot be treated as a supply of services by the holding company to the subsidiary and is not taxable. The CBIC clarification is applied mutatis mutandis under the Goa GST Act and stakeholders should publicize and report implementation difficulties.

Refund of accumulated input tax credit: refunds limited to ITC reflected in FORM GSTR-2B; revised RFD 01 undertaking applies.
Refund entitlement for accumulated input tax credit is limited to input tax credit reflected in FORM GSTR-2B for the relevant or prior tax periods for refund claims from the date the amendments took effect. The FORM RFD-01 undertaking remains but is revised to remove references to omitted provisions and forms, and supporting-document requirements referencing GSTR-2A and certain self-certified invoices are deleted. For adjusted total turnover, export values are to be calculated as per the inserted Explanation. Exporters who subsequently export goods or realise payment after complying with rule 96A may claim refund of unutilized ITC and IGST paid, but not interest.

Inter-office service taxation: invoice value deemed open market value when recipient is eligible for full input tax credit.
The circular clarifies that a Head Office may either distribute ITC for common input services through the ISD mechanism (requiring ISD registration) or issue tax invoices to Branch Offices so BOs can claim ITC; ISD distribution is optional and limited to services attributable to or actually provided to BOs. For internally generated services, where the recipient BO is eligible for full ITC the invoice value is deemed the open market value regardless of inclusion of cost components; absence of an invoice may result in a deemed nil declared value treated as open market value. Salary cost need not be mandatorily included when BOs lack full ITC eligibility.

GST classification of Rab: taxable when prepackaged and labelled, nil when sold otherwise, with past periods regularized.
GST classification of Rab is clarified: prepackaged and labelled Rab is subject to a taxable rate, while Rab sold otherwise is nil-rated, effective from 1 March 2023; past periods are regularized on an "as is" basis. The CBIC circular is to be applied mutatis mutandis under the Goa GST framework. The guidance is clarificatory and implementation difficulties may be reported to the authority.