Solar panels as capital goods: SEZ developers may install for captive common-area supply under existing power guidelines.
Requests from SEZ developers and co-developers for procurement and installation of solar power panels to generate captive electricity for common areas should be considered as capital goods and assessed by Development Commissioners in accordance with Para 1(i) of the Power Guidelines.

System audit requirement for Professional Clearing Members mandates annual IT audits and timely submission of audit reports.
The circular mandates annual System Audits for Professional Clearing Members (PCMs) under the prescribed System Audit Framework and TOR, requires maintenance of a register of SEBI/CC technology circulars, and submission of audit reports- including management and Governing Board comments and exceptional non compliance formats-to Clearing Corporations within defined timelines. Auditor selection norms, independence requirements, CERT In empanelment, audit scope covering IT infrastructure, governance, security and BCP/DR, reporting formats with root cause and corrective-action timelines, and provisions for follow on audits/ATR verification are prescribed.

Special call auction with no price bands enables price discovery for eligible listed investment and holding companies.
SEBI introduces a special call auction with no price bands for ICs and IHCs whose scrips trade infrequently and whose six month VWAP is below 50% of per share book value based on listed investments. Eligibility requires uniform industry classification, at least one year listed without suspension, and at least 50% of assets invested in scrips of listed companies. Exchanges must give 14 day notice, disclose key price and book value information, coordinate sessions across exchanges, require at least five PAN based unique buyers and sellers for successful price discovery, and provide adequate risk management and surveillance.

Call auction duration changes require random closure and enhanced surveillance to curb pre-open session manipulation.
The pre-open call auction is prescribed as a one-hour session with segregated windows for order entry, matching and a buffer, and a system-driven random closure during the final part of order entry. Stock exchanges must implement enhanced surveillance with alerts based on specified cancellation and modification parameters, report alerts to the regulator by EOD, seek client explanations, and display cancelled order counts and quantities in real time. Risk management and margining requirements vary by issue size and scrip type, and exchanges must adopt systems and rule changes before the ninety-day applicability date.

Transshipment permission to Fedex Express TSCS (India) Pvt. Ltd. granted with bond and compliance conditions.
Permission is granted to M/s Fedex Express TSCS (India) Pvt. Ltd. to transship imported consignments from Bengaluru to specified destination airports via bonded trucking by M/s Shreeji Translogistics Ltd for one year, subject to execution of Transshipment Bonds of Rs. 1,00,00,00,000 by each party. Goods must be specifically manifested, segregated, processed in a secured TP processing area under customs supervision with MAWB and CTM documentation, sealed containers, destination acknowledgement within 30 days for bond re crediting, a Rs.20 application fee, recordkeeping, and observance of prescribed customs procedures and circulars.

Core SGF contributions: participants must provide risk based pro rata funding; LPCC replenishment and default waterfall govern recovery.
Participants who directly join LPCC must make risk based, pro rata contributions to the Core SGF equivalent to the MRC deficit after Issuer and Clearing Member contributions; LPCC may collect these upfront or staggered and must top up any shortfall until Participant contributions are received. Contributors must replenish Core SGF to MRC immediately after use, limited to one replenishment per 30 calendar day period from the date of default notice. The default waterfall prescribes an ordered loss absorption sequence culminating in capped additional contributions by non defaulting members/participants and, if necessary, pro rata haircuts to payouts, with conditions on resignation, caps, and regulatory approvals for haircut use and post haircut exits.

SEZ import exclusion: specified jewellery items excluded from the recent import restriction when brought by SEZ units.
Administrative clarification: imports of the specified jewellery items falling under the cited ITC (HS) classifications, when imported by SEZ units other than FTWZ units, are outside the scope of the earlier import restriction notification, relying on the applicable SEZ regulatory provisions to exempt such imports from that notification.

Export obligation periods under Appendix 4J revised, changing pre import timelines for specified inputs and advance authorisations.
Amendments revise the Export Obligation Periods in Appendix 4J of the Handbook of Procedures, 2023, prescribing new timelines measured from the date of clearance of each import consignment by Customs for specified inputs under pre import conditions and Advance Authorisations. The Public Notice lists the revised periods for each listed import item, confirms immediate effect of the amendments, and invites stakeholder comments within fifteen days to the DGFT email address provided.

Conversion of SEZ processing area into non processing area approved, subject to duty refund certification and No Dues compliance.
The Board approved multiple procedural actions under the SEZ regulatory framework, including ratification of prior minutes with additional documentation, one year extensions of formal approvals and LoAs, recommended partial de notifications, and numerous approvals to convert processing area to Non Processing Area under Rule 11B subject to No Dues Certificates and prescribed duty refund certification by the Specified Officer and Development Commissioner. Innovative proposals and airport based SEZs were deferred pending rule amendments or inter ministerial consultation, and co developer approvals were granted subject to standard SEZ Act/Rules conditions and taxability examination by the Assessing Officer.

Employee bid cut-off rule revised: bids placed on T+1 must use the T-day cut-off, allotment based on T-day price.
Employees participating in exchange-based OFS shall place bids on T+1 day at the cut-off price of T day, and the allotment price will be based on the T-day cut-off price, subject to any discount. All other provisions of the prior OFS framework remain unchanged. Market Infrastructure Institutions must update systems, amend bye-laws where necessary, notify market participants, and implement the change within the prescribed implementation period.

Export certificate for personal jewellery enables temporary export and duty free re importation subject to valuation and customs verification.
Passengers carrying personal jewellery abroad may obtain an export certificate after submitting a detailed packing list, ownership proof or affidavit, and photographs; documents must be verified and endorsed in advance by an empanelled Gold Valuer at the passenger's cost. At departure the Air Customs Officer matches jewellery to the endorsed list and photographs and issues a serialised export certificate in duplicate; on arrival the passenger declares the jewellery, presents the original certificate at the red channel, and customs verifies identity, defaces the certificate and records arrival, permitting clearance if items match. Certificates are for bona fide personal jewellery only and may be denied or referred to Air Intelligence if doubts arise.

Import restriction clarification: re import of unsold exhibition jewellery may be cleared without import licences under export provisions.
DGFT clarifies that re-importation of unsold jewellery exported for exhibition under Handbook export provisions may be cleared by customs without import licences, subject to applicable customs procedures, notwithstanding a recent amendment changing certain jewellery items from Free to Restricted import classification.

Personal hearing in GST adjudication must be granted before adverse orders, with strict compliance and disciplinary action for violations.
Personal hearing must be offered before any adverse adjudication order under Section 75(4) of the Uttar Pradesh GST Act, and denial of that opportunity violates the principles of natural justice. The circular directs all subordinate officers to strictly follow this requirement, ensure mandatory compliance with personal hearing provisions, and take remedial measures, including disciplinary action against erring officials, where such violations occur.

RCMC requirement for medical devices: temporary issuance by existing EPCs to preserve RoDTEP eligibility and customs clearance.
RCMC issuance for medical devices is temporarily delegated to existing Export Promotion Councils until the dedicated EPC for Medical Devices becomes operational and onboards the DGFT Common Digital Platform; Customs must accept such RCMCs to preserve RoDTEP eligibility and facilitate export clearance.

Correction to regulatory reference: EO Period paragraph for textiles and DCPC revised, clarifying EO applicability under import provisions.
Correction to a prior public notice amends the paragraph citation in Appendix 2Y of the Foreign Trade Policy, clarifying the Export Obligation (EO) Period applicable to products of the Ministry of Textiles and DCPC imported under enabling provisions for inputs subject to mandatory Quality Control Orders, by replacing the previously cited paragraph with the corrected paragraph reference that governs EO computation and compliance.

GST audit selection order expands the list of registered persons chosen for records audit for the relevant financial year.
Selection of a further fifty-four registered persons for audit under section 65 of the West Bengal Goods and Services Tax Act, 2017 read with rule 101 of the West Bengal Goods and Services Tax Rules, 2017 for the financial year 2020-21 or part thereof. The selection continues the earlier audit selection order for the same period and takes effect immediately.

DGFT includes 16 pre shipment inspection agencies in Appendix 2G; approvals valid three years; instrument annexure attached.
DGFT includes sixteen agencies in Appendix 2G authorising them to issue Pre Shipment Inspection Certificates effective from the Public Notice date, with approvals valid for three years or until further DGFT notification. Two existing agencies are allowed additional instruments as annexed. The notice revises areas of operation and requires notified PSIA to update membership certificates and office contact details within thirty days. The annexure lists approved instruments, calibration validity and IMC comments, noting both compliant and deficient items.

Customs Broker Licensing System launches continuation after death, offence management and profile modification features for online administration.
CBLMS has been upgraded with a two part electronic continuation application for legal heirs to assume a deceased proprietor's customs broker account; a comprehensive Offence Module to manage offence reports, notices, hearings, submissions, orders and online penalty payments; profile modification applications for non mandatory data, correspondence address changes and addition of Other Policy Section details and employees; and system enhancements including My Profile, digital NOC, Issue Document, public Search CB, QR code status, notifications and account lock out security. User manuals will be available in the Knowledge Centre.

International trade settlement in Indian Rupees: additional current accounts allowed for both export and import settlements.
Authorised Dealer Category I banks maintaining a Special Rupee Vostro Account may open an additional special current account for constituents to settle international trade in Indian Rupees; the permitted use of the additional account is extended from export transactions to include both export and import transactions, and banks are instructed to notify their constituents of this operational flexibility.

Line of Credit terms tie export eligibility to the Foreign Trade Policy and require predominant Indian supply.
A Government of India-supported Line of Credit from Exim Bank to Guyana for aircraft procurement ties eligible exports to the Foreign Trade Policy and requires that a substantial percentage of contract value be supplied from India while allowing a residual portion to be sourced abroad; shipments must be declared on prescribed export documentation, disbursements follow the LoC timeline, and no agency commission is payable from the LoC though exporters may remit commission from their own foreign exchange subject to post realisation rules.