Government backed Line of Credit enables India sourced export supply for Mauritius metro project, subject to RBI and FEMA compliance.
A Government of India supported Line of Credit from Exim Bank to SBM (Mauritius) finances participation in Phase IV of the Mauritius Metro Express Project, permitting exports from India subject to the Foreign Trade Policy. The LoC mandates at least 75 per cent of contract value be supplied from India and allows up to 25 per cent foreign procurement; shipments must be declared in Export Declaration Form/Shipping Bill. No agency commission is payable under the LoC, though exporters may use their own funds or EEFC balances after realisation, subject to AD Category I bank compliance. The circular is issued under FEMA and does not affect other legal permissions.

Anonymised escalation mechanism routes delayed Bill of Entry grievances while preserving officer and assessment-location anonymity under faceless assessment.
The Anonymised Escalation Mechanism enables importers or Customs Brokers to register ICEGATE grievances concerning delayed assessment of a Bill of Entry under Faceless Assessment, while preserving the anonymity of the assessing officer and assessment location. Tickets are routed in ICES to VDN or ADN officers according to whether the Bill of Entry is pending at the Faceless Assessment Group port or port of import, and transfer with the Bill of Entry when its assessment location changes. Officers can view the Bill of Entry status for monitoring and follow-up. After assessment is completed, the ticket is closed in the system and reflected as closed on the ICEGATE grievance dashboard.

TRQ allocation for sugar permits specified exports from India to EU and USA under prescribed certification and reporting conditions.
The Director General of Foreign Trade allocates specified TRQ quantities of sugar for export from India to the EU and USA, confirms such exports are 'Free' subject to existing restrictions and reporting requirements, directs that Certificates of Origin for preferential access be issued by the Additional Director General of Foreign Trade, Mumbai on APEDA's recommendation, and designates APEDA as the implementing agency to operate the quota.

Transitional credit verification must follow uniform central guidelines adopted for State tax field officers implementing GST law.
Transitional credit verification under the Tripura State Goods and Services Tax regime must follow the central guidelines adopted to secure uniform implementation of the law. The directions, issued under the statutory power for uniform implementation of the Tripura State Goods and Services Tax Act, 2017, apply to State tax field officers. Officers are required to follow the annexed central circular while verifying transitional credit.

Refund-related clarifications require tax field officers to follow uniform guidelines for administering goods and services tax refunds.
Refund-related clarifications require State tax field officers to follow the annexed central guidelines on refund issues. The instruction, issued to secure uniform implementation of the State goods and services tax law, applies to designated tax authorities administering refund matters.

Transitional credit verification guidelines set the framework for TRAN-1 and TRAN-2 claims, scrutiny, and ledger credit posting.
Guidelines are issued for verification of transitional credit claimed through TRAN-1 and TRAN-2 pursuant to Supreme Court directions reopening the common portal for a limited filing window and subsequent scrutiny by jurisdictional tax officers. The framework requires examination of earlier filings, coordination where central and State components are involved, issuance of notice where credit is inadmissible, and passing of a reasoned order within the stipulated verification period for credit to be reflected in the electronic credit ledger. Detailed checks are prescribed for carried-forward credit, capital goods, stock-based claims, goods in transit, input service distributor credit, and deemed credit, with emphasis on avoiding double credit and ensuring documentary verification.

Transitional credit verification: officers must verify TRAN 1/TRAN 2 claims, coordinate cross jurisdictionally and pass reasoned orders.
Guidelines prescribe procedures for verifying Transitional Credit claims filed or revised via TRAN 1/TRAN 2: jurisdictional officers must verify claims using declarations, back office data and records, coordinate with counterpart central or state/UT officers where claims span jurisdictions, obtain signed verification reports detailing admissible and inadmissible amounts with reasons, issue notices and afford hearings where inadmissibility is indicated, and pass reasoned orders within the prescribed verification timeline to allow credit to be reflected in the Electronic Credit Ledger; excess credit is liable to demand and recovery.

Inverted duty structure refund rules clarified: amended formula and specified goods restriction apply prospectively to new applications.
The amendment to the formula for calculating refunds of unutilised input tax credit due to an inverted duty structure is prospective and applies to refund applications filed on or after its effective date; applications filed before that date remain governed by the earlier formula. A separate restriction denying such refunds for specified goods in chapters 15 and 27 also applies prospectively to applications filed on or after its effective date and does not affect applications filed earlier.

Registration requirement for Online Bond Platform Providers mandates stock broker registration and regulatory compliance for platform operations.
SEBI requires Online Bond Platform Providers to be Indian companies registered as stock brokers in the debt segment and approved by a recognised stock exchange, restricting pre existing platforms to listed debt securities and public offering candidates. Entities must appoint specified compliance and managerial personnel, obtain SCORES authentication, maintain robust secure technology with real time dissemination and open access, perform KYC and due diligence, route listed orders via exchange RFQ and clearing corporations, issue electronic order receipts and deal sheets, implement risk management and grievance redressal within 30 days, and comply with disclosure, advertising and reporting obligations.

Restricted import ports limit high-risk food imports to designated ports, requiring centralized handling and stakeholder consultation.
Imports of specified high-risk food categories-milk and milk products; egg powder; meat and meat products including poultry and fish; infant nutrition foods; and nutraceuticals/health supplement and special-dietary medical foods-are permitted only through a prescribed list of 61 ports directly manned and managed by the food import regulatory authority. Stakeholders are invited to comment within thirty days, the restriction has a stated commencement date, and customs authorities are directed to notify trade, sensitize officers, and report implementation difficulties.

Registration of foreign food manufacturing facilities required; exporting countries must submit manufacturer lists for Indian registration.
Mandatory registration of foreign food manufacturing facilities producing Milk and Milk Products, Meat and Meat Products (including poultry, fish), Egg powder, Infant Food, and Nutraceuticals, effective 1 February 2023. Competent Authorities of exporting countries must submit lists of existing and intending exporters in the prescribed format to designated email addresses; registrations will be carried out by the Food Safety and Standards Authority of India on its portal. Customs authorities are instructed to sensitize trade and report implementation difficulties to the Board.

Transitional credit filings via FORM GST TRAN-1/TRAN-2 reopened; claims to be verified within 90 days and credited to ledger.
The Supreme Court directed reopening of the common portal to permit filing or revision of FORM GST TRAN-1/TRAN-2 for a limited window, and mandated that jurisdictional tax officers verify claims filed during that window and pass reasoned orders within 90 days, after which allowed transitional credit shall be reflected in the Electronic Credit Ledger. Verification duties, State Central coordination, procedural checks, documentary requisites, opportunity to be heard, reporting formats and recovery of excess credit are specified.

Refunds for accumulated input tax credit: amended calculation and specified-goods restrictions apply only prospectively to new applications.
An amendment to the refund calculation formula for unutilised input tax credit due to inverted duty structure is prospective and applies only to refund applications filed on or after its effective date; applications filed before that date shall be processed under the earlier formula. A separate notification restricting refunds for specified goods where input tax exceeds output tax is also prospective and applies only to refund applications filed on or after its effective date, not to earlier applications.

Units removal under section 144B(3) removes specified schedule entries and takes immediate administrative effect per CBDT order.
The Central Board of Direct Taxes, exercising powers under sub section (3) of section 144B of the Income tax Act, amends Office Order 2 dated 10.06.2022 by omitting the entries for Sr No. 92 and Sr No. 105 from the Schedule; the omission takes immediate effect and the order is issued with the approval of the Chairman, CBDT.

Refunds for unutilised input tax credit due to inverted duty structure now subject to a new prospective computation rule affecting later claims.
Clarification states that the amended formula in rule 89(5) for computing refunds of unutilised input tax credit due to an inverted duty structure is substantive and applies prospectively to refund applications filed on or after its effective date, while applications filed before that date remain subject to the pre amendment formula. Separately, a notification restricting refunds for specified goods in Chapters 15 and 27 where input tax rates exceed output rates is also prospective and applies only to refund claims filed on or after its commencement; earlier claims are unaffected.

Non-filing enforcement: officers must initiate assessment and cancellation procedures for persistent return non-filers.
Proper Officers must contact return defaulters, issue electronic notices, and where returns remain unfiled proceed with best judgement assessment, upload assessment orders in prescribed forms and initiate recovery. Territorial Deputy and Joint Commissioners must personally monitor top revenue contributors and ensure lists of defaulters are acted upon. Persistent non-filing triggers suspension and initiation of cancellation proceedings, verification of business premises and referral to the Intelligence Wing for inspection where business continues.

Auto-pledge of unpaid securities enables members to transfer, notify and sell unpaid holdings if funds remain unmet within prescribed days.
All securities received in pay-out must be transferred from the member's pool account to the client's demat account within one working day. Unpaid securities shall be transferred to the client's demat account and auto-pledged with reason "unpaid" in favor of a separate client unpaid securities pledgee account opened by the member. Members must notify clients of funds obligations; if funds are not furnished within five trading days the member may sell the securities using the client's UCC with profit/loss adjusted to the client's account. Pledges not invoked or released within seven trading days shall be auto-released.

RoDTEP duty credit scrips gain two-year validity while transferee-holder conditions are removed under revised scheme provisions.
RoDTEP scheme amendments remove specified conditions concerning transferee-holders of duty credit scrips. Corresponding Electronic Duty Credit Ledger provisions extend the validity of RoDTEP scrips from one year to two years from the date of generation.

GST on SEBI fees: payers must remit fee plus GST and email detailed remittance particulars to SEBI immediately.
Remitters must, immediately after payment, email remittance particulars to [email protected] in the prescribed format, breaking down the amount into fee and GST components and providing remitter account number, origin bank, IFSC, UTR/transaction reference, payment product code, registered name and address, email, complete remittance origin address, GST registration number and purpose of remittance.

Input Tax Credit availability clarified for deemed export refunds, employer perquisites and ledger utilisation under GST.
Tax paid on deemed export supplies may be placed in recipients' electronic credit ledgers solely to enable refund claims but does not constitute ITC under Chapter V and is excluded from "Net ITC" for refund computations; the proviso to clause (b) of section 17(5) applies to the entire clause making credit available where goods or services are obligatory for an employer under law; "leasing" in the exclusion is limited to motor vehicles, vessels and aircraft; employment perquisites under contract are not supplies for GST; electronic credit ledger balances may be used only for output tax (excluding reverse charge) while the electronic cash ledger may meet tax, interest, penalty and other liabilities.