Faceless Assessment: ensure legible e Sanchit uploads, linked IRNs, and required compliance certificates to expedite clearance.
Faceless Assessment requires upload of legible, complete supporting documents in e Sanchit and proper linkage to the Bill of Entry by tagging the IRN; include technical data, value support and compliance certificates, obtain and upload mandatory registrations and permits before filing, use correct document codes, answer queries with specific documents, and state reasons when opting for provisional assessment to assist finalization. Annexure A provides an assessing group wise non exhaustive list of documents and officers may request additional documents as necessary.

Import/export declarations require mandatory product qualifiers (IUPAC/CAS; plant/formulation/surface material) from 01.07.2023 for specified tariff chapters.
Importers must declare the IUPAC name and CAS number of constituent chemicals for specified chemical imports at the time of filing the Bill of Entry; exporters must declare the medicinal plant name, formulation name, or surface material in contact for specified export entries at the time of filing the Shipping Bill. These additional qualifiers are mandatory for all filings on or after 01.07.2023 in the formats and identifier tables set out in the annexures, and supplement existing declaration requirements to reduce queries and facilitate assessment and clearance.

Anti profiteering procedure: Commission framework for assessing pass through of tax rate reductions and input tax credit benefits.
The Competition Commission of India's Methodology and Procedure under Rule 126 governs determination of whether tax rate reductions or input tax credit benefits have been passed on by registered persons. The Commission may inquire suo motu or on information, direct the Director General of Anti profiteering to investigate where a prima facie case exists, register and serve investigation reports on interested parties, and after affording opportunity of hearing may close the matter, pass orders, or remand for further investigation.

General Authorisation for Export of Chemicals expanded to include Appendix 10N chemicals, subject to civilian use and quarterly reporting.
The amendment expands the General Authorisation for Export of Chemicals and related Equipment (GAEC) to include specified chemicals listed in Appendix 10(N) and their export/re export to listed countries, requiring a one time online GAEC application via the SCOMET portal with ANF 10A. Exports under GAEC are subject to civilian use restrictions, exporter declarations on letterhead covering end use and supply chain transfers, a five year GAEC validity, and mandatory quarterly post reporting to government authorities.

Anti money laundering group based policies required; intermediaries must strengthen CDD, register nonprofits, and file STRs when tip off risk.
SEBI mandates group level AML/CFT policies using the statutory definition of group; tightens CDD to require reliable independent verification, authorization checks for persons acting on behalf of juridical clients, lowers beneficial ownership thresholds to 10% for non individuals and trusts, applies PEP norms to family and close relatives, requires nonprofit client registration on the NITI Aayog DARPAN portal with five year retention, directs filing of Suspicious Transaction Reports if further CDD would tip off the client, and requires pre launch ML/TF risk assessments and use of name screening technology.

Restriction on platform offerings mandates Online Bond Platforms to list only specified eligible securities and divest other products.
Online Bond Platform Providers must restrict offerings to specified eligible securities and divest other products or services; holding companies, subsidiaries or associates cannot use the platform brand or links to offer unregulated products or access platform user information or cross-sell. Orders in eligible listed debt-type securities must be routed through a recognised stock exchange RFQ platform and settled via the respective Clearing Corporation or through a stock exchange mechanism as specified; investor grievance redressal shall follow the Master Circular for Stock Brokers. Non-compliance invites action under the SEBI Act.

Pre-import condition non-compliance requires tax payment, with eligible input credit or refund mechanisms after reassessment.
Imports under Advance Authorization that did not satisfy the pre-import condition are required to pay applicable IGST and compensation cess with interest. The assessment group will cancel the out-of-charge order, reassess the bill of entry, and enable payment through the Customs EDI System. Following payment, a notional out-of-charge order will transmit relevant tax details to the GST portal. Input tax credit and any refund connected with zero-rated supplies remain subject to applicable CGST eligibility conditions and restrictions.

Record of default requirement: creditors must obtain and attach Information Utility certification before filing insolvency petitions.
Creditors initiating corporate insolvency must submit the information of default to the Information Utility, which will process it and issue the record of default required to be appended to insolvency applications; the Circular and NCLT order urge prompt production of the Information Utility certificate to enable effective hearing.

e Appeals Scheme scope specified: most income tax appeals to be completed electronically, with defined exceptions and disputed demand definition.
All appeals under section 246 and specified clauses of section 246A are to be completed under the e Appeals Scheme, 2023, except defined categories: certain older assessment and penalty appeals with disputed demand above a monetary threshold; matters under Commissioners for Central or International Taxation; assessments after search/requisition or action under section 133A; cases where additions arise from seized/impounded material; assessments under e Assessment/Faceless Assessment or section 144B; and penalty appeals under the Faceless Penalty Scheme. "Disputed demand" is defined to include assessed tax differences, tax where no return was filed, Chapter XXI penalties, and demands or intimations, including interest, surcharge and cess.

Research Analyst regulation consolidates SEBI circulars and mandates compliance, disclosure, reporting and prior-approval procedures for key changes
SEBI's Master Circular consolidates all circulars for Research Analysts, rescinds listed circulars as applicable while preserving prior actions, and prescribes key obligations: procedural rules for proxy advisors (voting policy, methodology disclosure, client/company sharing, conflict disclosures), grievance redress mechanisms including publication of an Investor Charter and monthly complaint data via SCORES, CERT-In SaaS advisory compliance with half-yearly undertakings, FATCA/CRS due diligence, mandatory annual compliance audits, prior-approval process for change in control via the SI Portal, an advertisement code with required disclosures and prohibitions, and comprehensive outsourcing and conflict of interest controls.

Client level segregation of advisory and distribution mitigates conflicts and imposes specific compliance and reporting obligations.
SEBI's Master Circular consolidates applicable IA circulars, rescinds earlier ones as applicable while preserving prior actions, and prescribes operative obligations: client level segregation of advisory and distribution services; mandatory written advisory agreements; prescribed fee modes with documentation; qualification and registration rules; recordkeeping of client interactions; annual compliance audits with adverse finding reporting; prohibition of free trials without risk profiling; mandatory risk profiling with client consent; traceable banking receipts for fees; IAASB membership and reporting; advertising, outsourcing, SaaS security and complaint reporting requirements.

Courier jewellery export simplification exempts non-reimporting exporters from specified image uploads and item-level specification requirements.
E-commerce jewellery exporters using courier mode who declare in the Courier Shipping Bill that they will not seek re-import are exempt from uploading export-item photographs, package photographs, and e-commerce product-listing images through the Express Cargo Clearance System. Form HA is amended to include this declaration, which also relieves exporters from completing certain additional item-level jewellery specification fields.

Verification of GST registrations: risk based scrutiny and required physical checks to curb fake registrations and bogus ITC.
Proper officers must promptly scrutinise FORM GST REG-01 entries and uploaded documents for legibility, completeness and authenticity, cross verify address proofs against public sources, and check prior registrations on the same PAN. Officers must consider DGARM risk ratings (Report Series 400), issue electronic notices in FORM GST REG-03 for deficiencies, examine replies in FORM GST REG-04, and reject unsatisfactory or non responsive applications in FORM GST REG-05. Aadhaar unauthenticated cases require immediate physical verification under rule 9/read with rule 25, with verification reports uploaded in FORM GST REG-30.

Exemption from Azo dye testing confirmed for imports from specified countries, removing testing obligations for those shipments.
Amendment to Appendix 2X of the Foreign Trade Policy, 2023 revises the list of countries exempted from mandatory testing for the presence of Azo Dyes in textiles and textile articles, superseding the earlier public notice. The updated Appendix 2X provides that testing for Azo dyes will not be required for imports originating from the enumerated countries, thereby changing import testing obligations for those consignments.

Certified copy fee payments must be electronic and confirmation sent to the regulator as prescribed.
Payment for certified copies must be made electronically by direct credit to the regulator's bank account via NEFT/RTGS/IMPS or online payment through the regulator's payment gateway; demand drafts are no longer accepted. Applicants must send payment confirmation to the concerned department and a designated email in the prescribed format including payer details, transaction number, bank/IFSC, virtual account code, purpose, and GST information.

Execution-only platform regulation mandates registration, KYC allocation, data governance, immediate order routing, and conflict controls for mutual fund direct plans.
SEBI mandates a regulatory framework for Execution Only Platforms (EOPs) for transactions in direct plans of Mutual Funds, requiring registration as either Category 1 with AMFI (agents of AMCs, may aggregate transactions) or Category 2 as Stock Brokers under an EOP segment (agents of investors, no aggregation). The framework prescribes eligibility, KYC and onboarding responsibilities (with AMCs retaining KYC compliance for executed transactions), order routing and immediate execution rules, operational risk management, data governance, cybersecurity, disclosure limits on advertisements and recommendations, conflict-of-interest controls, fee constraints to flat non-ad-valorem charges, and specified record-keeping and reporting obligations.

Mutual fund participation in repos affirmed by corrigendum, confirming eligibility under governing mutual fund provisions.
The corrigendum replaces Clause 1 of the earlier circular to clarify that Para 12.18 of the Master Circular on Mutual Funds permits mutual funds to participate in repo transactions in corporate bond securities, reaffirming the scope of eligible repo activity for mutual funds under the mutual fund regulatory framework.

GST Audit Reforms require visit audits for high-yield taxpayers and standardized monitoring to improve tax compliance.
The circular mandates strengthening GST audit by directing Visit Audit for Top and high-yield taxpayers, establishing Thematic Audit planning through state and divisional coordination, constituting an Audit Monitoring Committee in each DGSTO to vet initial audit objections and standardise practices, and prescribing mandatory use of analytics and specified annexures/formats for case-wise and consolidated audit and adjudication reporting to enable centralized monitoring and performance review.

AEO programme digitization requires online registration and electronic submission of all application documents for certification.
Dispensing with physical documents, the AEO programme now mandates online registration and electronic submission of all annexures and supporting documents for AEO-T1, AEO-T2, AEO-T3 and AEO-LO applications via the CBIC web portal; the upgraded portal supports real time monitoring, deficiency responses through online uploads and digital certification, applicants must use the step wise guides on CBIC and AEO India sites, earlier Circular 33/2016 is modified, and the Public Notice operates as a standing order for AEO Cell staff.

Import/export declarations now require additional product qualifiers including IUPAC/CAS, plant and formulation identifiers from 1 July 2023.
Importers must declare the IUPAC name and CAS number of constituent chemicals for goods under chapters 28, 29, 32, 38 and 39 in the Bill of Entry; exporters must declare medicinal plant name (chapter 12), formulation name (chapter 30) and surface material contacting chemicals (chapter 84) in Shipping Bills. These additional qualifiers, in formats set out in Annexures 1 and 2, are mandatory and additive to existing declarations for filings on or after 01.07.2023.