Extended warranty as service: sold separately or after original sale is taxable as a distinct service, supplier liable for GST.
Clarification extends prior guidance so that replacement of entire goods under warranty is treated like replacement of parts for GST and input tax credit (ITC) purposes; distributor replacement from own stock followed by manufacturer replenishment by delivery challan without consideration is not taxable and requires no ITC reversal by the manufacturer; and extended warranty supplied by a different person or sold after original supply is a distinct supply of services with the warranty supplier liable to discharge GST.

Salvage value taxation: GST applies when insurer acquires salvage on full claim settlement, otherwise not.
GST attaches only where a supply exists. If the insurer deducts salvage/wreck value from the claim (per contract), ownership of salvage remains with the insured and no GST liability arises for the insurer. If the insurer pays full claim amount without deducting salvage so that salvage vests in the insurer, the insurer must discharge GST on disposal or sale of the salvage.

Reversal of input tax credit clarified: non includible portion of life insurance premium is not treated as exempt supply.
The portion of life insurance premium excluded from taxable value under Rule 32(4) is not a nil rated, exempted or non taxable supply merely by virtue of its exclusion; accordingly, that portion does not trigger reversal of input tax credit under the reversal provisions applicable when supplies are exempt or non taxable, and no reversal is required for taxable life insurance policies.

GST on employee share transfers: cost reimbursements not import of services; markups or fees taxable on reverse charge.
Where a foreign holding company issues ESOP/ESPP/RSU directly to employees of its Indian subsidiary and the subsidiary reimburses only the cost of the securities on a cost-to-cost basis, such reimbursement is not a supply of goods or services and is not liable to GST; however, any additional fee, markup, or commission charged by the foreign holding company is taxable as consideration for facilitation/arrangement services and attracts GST payable by the domestic subsidiary on reverse charge basis.

Proportionate input tax credit reversal verification: suppliers may rely on CA/CMA certificates or recipient undertakings to evidence reversal.
The Circular clarifies that post-supply discounts excluded from taxable value require that the recipient has effected the proportionate reversal of input tax credit. Due to lack of portal verification, suppliers may obtain a CA/CMA certificate from the recipient detailing credit notes, related invoice numbers, ITC reversal amounts and the form/return evidencing reversal, with UDIN. For small-value discounts within a financial year, a recipient's undertaking with similar details is permissible. These certificates/undertakings are admissible evidence for tax officers and may be procured retroactively if required.

Reverse charge input tax credit: ITC timing follows the financial year of the recipient issued invoice, subject to tax payment.
Where tax is payable by the recipient under the reverse charge mechanism for supplies from unregistered persons, the relevant financial year for the time limit to claim input tax credit is the financial year in which the recipient issues the invoice under the recipient invoice requirement, provided the recipient pays the tax and satisfies other conditions and restrictions; delayed issuance after time of supply attracts interest on late tax payment and possible penal consequences.

Open market value: invoice value for import of services from related persons deemed where recipient eligible for input tax credit.
Where a registered person in India imports services from a related person abroad and the recipient is eligible for full input tax credit, the invoice value declared by the recipient may be deemed to be the open market value for valuation purposes; if no invoice is issued by the supplier, a declared nil value by the recipient may be treated as the declared value and deemed the open market value. Tax on such import of services is payable by the recipient under the reverse charge mechanism and the recipient must issue a self invoice.

Place of supply for unregistered persons: delivery address on the invoice determines tax jurisdiction, not billing address.
Place of supply for goods to unregistered persons is the recipient address recorded in the invoice, and where no recipient address is recorded, the supplier's location; recording the recipient's State on the invoice suffices. If billing and delivery addresses differ on the invoice, the delivery address on the invoice is the place of supply, and suppliers may record the delivery address as the recipient's address to determine the correct place of supply.

Special procedure compliance for manufacturers requires machine identification, certified energy ratings, and specified GST form filings.
Manufacturers under the revised special procedure must complete machine details in FORM GST SRM-I: make/model optional (year of purchase may substitute), machine number mandatory (assign a numeric identifier if none), and declare electricity consumption from machine records or via a Practicing Chartered Engineer certificate in FORM GST SRM-III uploaded with the form. For goods with no MRP, enter sale price in Table 9. The Chartered Engineer must hold a certificate of practice from the Institute of Engineers India. The procedure excludes SEZ units and manual packing; the final packing machine is to be reported, and job workers' compliance falls to the principal if they are unregistered.

Monetary limits for government appeals restrict departmental appeals to higher forums, subject to specified exclusions and merit review.
Prescribes monetary thresholds under the CGST Act below which Central Tax officers shall not file appeals or Special Leave Petitions, setting rules for aggregating disputed tax, interest, penalty, late fee and refund amounts for threshold application, and applying thresholds to composite orders on the total disputed amount. Enumerates exclusions where appeals may be filed irrespective of limits-including vires challenges to statutes, rules or instruments, recurring interpretative issues like valuation, classification, refunds and place of supply, matters with adverse comments or costs, and other cases the Board considers necessary-and stresses merits-based litigation and non-precedential effect of non-filing.

Tariff Rate Quota scheme updated to specify covered imports, quotas and eligible applicants under amended procedure.
Amendments revise the procedure for imports under the Tariff Rate Quota (TRQ) Scheme, mandating compliance with the stated Customs Notification and specifying HS-coded agricultural and dairy products with allocated TRQ quantities. Eligibility for quota allocation is tied to listed entities by commodity: dairy cooperatives for milk powder/cream; national and state agricultural cooperatives for maize; and dairy bodies, national agricultural cooperative, Central Warehousing Corporation, and state cooperatives for oils. Maize TRQ remains subject to a judicial order that conditions imports.

Addition of areas of operation for pre shipment inspection agencies expands authorised jurisdictions; agencies must update certificates and contacts.
The DGFT, under the Foreign Trade Policy and the Handbook of Procedure, 2023, adds areas of operation for nineteen specified Pre Shipment Inspection Agencies to Appendix 2G in terms of Para 2.52(c), with immediate effect. The notice expands each agency's authorised jurisdictions and branch listings and requires the notified agencies to update their MRAI/ISRI/IFIA membership certificates and office addresses/contact details within a short compliance period to maintain accurate records.

Statutory committee composition rules for market infrastructure institutions strengthened to require public interest directors majority and PID-led chairs.
Revised governance requires MIIs to maintain specified statutory committees (MC, NRC, SCOT, ROC, RMC, IC) with Chairs as Public Interest Directors (PIDs), PIDs at least equalling other members in number (SCOT excluding IEPs), and voting validated only when PIDs who vote are not fewer than other members voting. Core TORs are non delegable; MC may delegate certain operational tasks to Internal Committees under defined SOPs while retaining accountability. Committees must adopt SOPs, manage sector specific oversight (technology, risk, surveillance, member admission, regulatory enforcement, investments), and ensure independent IEPs and required PID availability.

Deferred customs duty on warehoused inputs is payable at home-consumption; transfers allowed with MOOWR documentation and bonds.
Transfers of resultant goods between Section 65 units are allowed provided the MOOWR transfer Form is completed and endorsed, one-time locks and quantities are verified, the bond officer is intimated, and triple duty bonds are debited/recredited. Deferred customs duty on warehoused inputs becomes payable only when resultant goods are cleared for home consumption by filing the Ex-Bond Bill of Entry and paying duties. Transit risk insurance, maintenance of digital records, and timely monthly returns must be ensured to preserve duty liability until payment.

Exchange rate notification: automated ICEGATE publication will determine customs valuation from midnight following online publication.
Section 14 valuation will use exchange rates published on ICEGATE: SBI 'card rates' will be converted to Bill rates adjusted to the nearest five paise, integrated into ICES, published each publication evening, and take effect from midnight of the following day. Public access and archival storage on ICEGATE are provided, and a contingency framework with nodal officers and manual admin-interface updates applies where electronic transmission or integration fails, with the last updated rates remaining in force until corrected.

Electronic Gold Receipts as securities: creation, trading and conversion governed under a SEBI master framework ensuring vault, depository and risk controls.
SEBI's Master Circular establishes EGRs as tradable securities with a three tranche lifecycle: creation by registered Vault Managers upon deposit of qualifying gold and recording in a common depository interface; continuous trading on stock exchange segments with clearing by Clearing Corporations; and conversion/extinguishment permitting withdrawal of physical gold subject to verification, reconciliation, and assayer procedures. Vault Managers and Depositories must meet specified vault, security, insurance, reconciliation, disclosure and grievance redressal obligations, while a comprehensive margins and settlement framework governs risk management and T+1 rolling settlement.

Customs Broker Profile Amendment: system admin can update core profile fields; brokers must file Annexure A requests for non-automatable changes.
System administration in CBLMS may amend all approved Customs Broker Profile sections-Primary Details, Correspondence Address, Authorized Person Details, Proprietor/Partner/Director Details, Security Details and OPS Details. Brokers must submit change requests for corrections that cannot be handled through existing broker-facing CBLMS applications to the CBLR section with reasons in Annexure A; requests duplicating available application-based remedies will be invalid. Queries should be directed to the CBLMS Helpdesk email.

Goods and services tax changes approved covering exemptions, amended statutes, refunds, filing rules and procedural compliance measures.
Council agreed to Law Committee proposals to amend GST statutes and rules: exclude Extra Neutral Alcohol for manufacture of alcoholic liquor from GST; insert a provision empowering regularisation of non-levy/short-levy arising from general practice; restrict IGST refunds where export duty applies; clarify time of supply and invoicing for reverse charge transactions; and introduce consequential procedural and form changes to refund, return and appeal processes to improve compliance and reduce litigation.

Cargo release time analysis to track Bills of Entry and Shipping Bills and improve clearance efficiency.
Sector-specific cargo release time analysis will track Bills of Entry and Shipping Bills filed between 1 July and 7 July until their release or 7 August, measuring release and turnaround times across imports and exports by cargo type, PGA involvement, intraday workload, inter CFS variation and destination. Regulatory timestamps will come from DG Systems; logistics stakeholders must provide complete, consistent timestamps in the prescribed template (dd:mm:yyyy and hh:mm). Stakeholders must maintain written records for manual captures, report anomalies promptly to nodal officers, and adhere to extant CBIC instructions without artificially altering release times.

Drawback claims compliance: exporters must reply to EDI queries to ensure proper processing and disbursement.
Directive requiring exporters and their agents to reply to EDI system queries for pending drawback claims; claims in "Query Raised" and "EXPORTER" queues will be processed and disbursed upon electronic reply, and exporters must check claim status on ICEGATE. Exporters with pending claims (shipping bills prior to the cut-off) must submit requisite documents or personally present clarifications to the Deputy Commissioner (Drawback) within the compliance period; failure to reply satisfactorily will result in claims being processed as per available records and applicable rates. Contact details for assistance are provided.