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SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/000175 - 01-11-2023 SEBI
Simplification and streamlining of Offer Documents of Mutual Fund Schemes
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Mutual fund offer documents must adopt a revised SID/KIM/SAI format with standardized disclosures and transition deadlines.
SEBI revises and standardizes the format and disclosure framework for mutual fund offer documents (SID, KIM, SAI), mandates adoption by April 1, 2024 with transition timelines, amends specified Master Circular clauses to require web hosted portfolio disclosures, SAI disclosures on aggregate investments by AMC directors and key personnel, optional segregated portfolios only where SID enables them, and benchmark risk o meter disclosure on front pages and application forms; AMFI to align KIM and SAI formats within two months.
GST Circular R-1/2023 - 01-11-2023 GST - States
Filing of manual appeal applications before Appellate Authority under Rajasthan Goods and Services Tax Rules, 2017.
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Manual GST appeal filing permits APL-01 and APL-03 submissions when challenged orders are unavailable on the common portal.
Manual filing of GST appeals is permitted where electronic filing cannot be completed because the challenged decision or order is unavailable on the common portal. Appeals may be submitted in FORM GST APL-01 and applications in FORM GST APL-03, with relevant documents, where manual filing is notified by the Chief Commissioner of State Tax or portal non-availability prevents electronic filing. A provisional acknowledgement must be issued immediately, and Appellate Authorities must recognise such manual filings.
GST Circular No. 18/2023 - 01-11-2023 GST - States
Clarifications regarding applicability of GST on certain services
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GST applicability on services clarified: composite supply treatment, job work for malt, DMFTs and exemption scope affirmed nationwide.
Input services in the same line of business are limited to transport of passengers (SAC 9964) and renting of motor vehicle with operator (SAC 9966); leasing of motor vehicles without operator (SAC 9973) is excluded. Electricity bundled with renting or maintenance forms a composite supply taxed at the principal supply rate, but electricity recovered as a pure agent on actual basis is excluded from value. Job work converting barley to malt is job work in relation to food products and attracts the concessional rate. DMFTs set up by States are Governmental Authorities eligible for exemptions. Horticulture services to CPWD with goods value 25% are exempt under the Notification.
GST Circular No. 17/2023 - 01-11-2023 GST - States
Clarification regarding GST rate on imitation zari thread or yarn based on the recommendation of the GST Council in its 52nd meeting held on 7th October, 2023
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GST rate on imitation zari thread from metallised film clarified; such yarn attracts the reduced rate and no refund.
Imitation zari thread or yarn made from metallised polyester or plastic film falls within the HS description for yarn combined with or covered by metal and is classified under Schedule I as imitation zari, attracting the concessional GST rate; refunds for metallised polyester/plastic film on account of inversion of tax rate are not permitted and notifications have been amended accordingly.
GST Circular No. 16/2023 - 01-11-2023 GST - States
Clarification on issues pertaining to taxability of personal guarantee and corporate guarantee in GST
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Related-party guarantee treated as supply: corporate guarantees valued under prescribed related-party valuation rules, personal guarantees valued per remuneration rules.
Personal bank guarantees by directors are supplies of service between related persons; where regulatory banking guidance forbids consideration, the open market value may be treated as nil and the taxable value as zero, except in exceptional cases where remuneration is paid. Corporate guarantees by related companies or by holding companies for subsidiaries are also supplies of service and their taxable value must be determined under the statutory valuation provision for related-party guarantees, applied uniformly irrespective of input tax credit availability. The corporate-guarantee valuation rule does not apply to director personal guarantees.
GST Circular No. 15/2023 - 01-11-2023 GST - States
Clarification regarding determination of place of supply in various cases
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Place of supply rules clarified: transportation, advertising and co location services governed by default IGST place of supply principles.
Clarification: place of supply for transportation of goods, advertising services, and co-location services is governed by the IGST place-of-supply rules. Transportation services where supplier or recipient is outside India follow the default place-of-supply rule: recipient location if available, otherwise supplier location; mail/courier likewise. Advertising: sale/grant of rights to use hoarding is located at the hoarding site; provision of display services by a vendor is an advertising service located by the default rule. Co-location is hosting/IT infrastructure provisioning and located at recipient, unless limited to mere renting of space.
GST Circular No. 14/2023 - 01-11-2023 GST - States
Clarification relating to export of services—Sub-clause (iv) of the section 2(6) of the IGST Act 2017
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Export of services: INR receipts via Special Rupee Vostro Accounts meet the IGST Act payment requirement when RBI/FTP conditions are satisfied.
Payments credited to Special Rupee Vostro Accounts of correspondent banks, when effected in accordance with RBI's A. P. (DIR Series) Circular No. 10 and the Foreign Trade Policy 2023 and subject to their conditions and approvals, shall be considered to fulfil the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act for determining export of services.
27/2023 - 01-11-2023 Customs
Authorization of Booking Post Offices and their corresponding Foreign Post Offices in terms of the Postal Export (Electronic Declaration and Processing) Regulations, 2022
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Authorization of Booking Post Offices expands e filing network for Postal Bill of Export under Postal Export (Electronic Declaration) Regulations.
Additional Booking Post Offices have been authorised to electronically file Postal Bill of Export under the Postal Export (Electronic Declaration and Processing) Regulations, 2022; these offices, equipped with Dak Ghar Niryat Kendra facilities, are mapped to corresponding Foreign Post Offices and are to accept international mail consignments via the DNK portal, with Customs formations directed to implement the extended e filing network and report any difficulties.
151/2023-GST - 01-11-2023 GST - States
Clarifications regarding applicability of GST on certain services
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GST applicability on services: clarifies treatment of passenger transport, electricity reimbursements, job work, DMFTs and horticulture exemptions.
Input tax credit under the same line of business covers passenger transport (SAC 9964) and renting with operator (SAC 9966) but excludes leasing without operator (SAC 9973). Electricity bundled with renting/maintenance is a composite supply taxed as the principal supply, while electricity charged as a pure agent is excluded from value. Job work converting barley to malt is job work in relation to food and food products. DMFTs are Governmental Authorities. Horticulture services to CPWD with goods 25% qualify for exemption.
149/2023-GST - 01-11-2023 GST - States
Clarification on issues pertaining to taxability of personal guarantee and corporate guarantee in GST
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Taxability of guarantees: personal and corporate guarantees treated as taxable supplies between related persons under GST.
Personal guarantees by directors are a supply of service between related persons even without consideration and are valued at open market value; where regulation prohibits any consideration to the director, the open market value may be treated as nil. Corporate guarantees by related companies or by a holding company for a subsidiary are also supplies between related persons and their taxable value must be determined under the statutory valuation provision amended to include a specific sub-rule for corporate guarantees, applied uniformly regardless of input tax credit availability. The corporate-guarantee valuation sub-rule does not apply to personal guarantees.
148/2023-GST - 01-11-2023 GST - States
Clarification regarding determination of place of supply in various cases
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Place of supply clarified: default rule applies for transport, advertising distinctions and co location treated as hosting services.
Clarification: for transportation of goods (including mail/courier) where supplier or recipient is outside India, the default place of supply rule applies-location of recipient when available, otherwise location of supplier. In advertising, sale or grant of rights to use hoarding space is located at the immovable property; mere provision of display services is determined by the default rule. Co-location services are treated as hosting and IT infrastructure provisioning and usually follow the default rule (location of recipient), except where the arrangement is purely renting of physical space with basic infrastructure, in which case the immovable property's location governs.
147/2023-GST - 01-11-2023 GST - States
Clarification relating to export of services — sub-clause (iv) of the Section 2 (6) of the IGST Act 2017
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Export of services via Special Rupee Vostro Accounts satisfies the IGST Act payment condition for export classification.
Payment received by Indian exporters of services in rupees from designated Special Rupee Vostro Accounts of correspondent banks, pursuant to the RBI A.P. (DIR Series) Circular and Foreign Trade Policy procedures, shall be treated as fulfilling the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act, subject to conditions and approvals under the FTP and extant RBI circulars and without prejudice to other legal permissions.
SEBI/HO/DDHS-PoD-2/P/CIR/2023/174 - 31-10-2023 SEBI
Revision in manner of achieving minimum public unitholding requirement – Infrastructure Investment Trusts (InvITs)
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Minimum public unitholding requirement updated for InvITs; preferential allotment and sponsor sale processes clarified and disclosure mandated.
An additional method allows privately placed InvITs to meet the minimum public unitholding requirement via preferential allotment, counting only units issued to the public. Modifications to sponsor sale mechanisms provide two alternative divestment options-one subject to limits tied to trading volume and another to raise public unitholding to the regulatory threshold-with trading-volume limits not applicable to privately placed InvITs. The Investment Manager must announce proposed sales in advance and obtain undertakings preventing related parties from purchasing on sale dates; compliance with insider trading rules and InvIT Regulations is required. The circular is effective immediately.
PUBLIC NOTICE NO. 22 / 2023 - 31-10-2023 Customs
Export of Rice — Requirement of sampling and testing before Let Export Order — Regarding.
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Export Sampling Requirement for rice consignments: testing mandatory before shipment; compliance and pre-stacking with prompt lab testing advised.
Pre shipment sampling and testing of all rice consignments is mandatory before grant of Let Export Order. Basmati rice may be exported subject to APEDA Registration and specified grain dimensions; Non Basmati white rice and Broken rice are prohibited; Parboiled and Brown/Rice in husk attract a twenty percent ad valorem export duty. Samples must be drawn and test reports obtained from the Custom House Laboratory within forty eight hours; exporters should pre stack consignments in CFSs/Customs areas to ensure testing and clearance before shipment.
PUBLIC NOTICE No. 19/2023-AP & ACC BLR - 31-10-2023 Customs
M/s FedEx Express Transportation and Supply Chain Services Ind. Pvt. Ltd. as custodian in respect their own courier consignments is extended for a period of ten years i.e upto 30.10.203.
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Custodianship appointment extended: custodian liable for duties on lost or pilfered consignments and must meet security and bond conditions.
Appointment of M/s FedEx Express Transportation and Supply Chain Services (India) Private Limited as custodian for its own courier consignments at the FedEx facilities is extended for ten years, subject to statutory compliance, liability for duty on pilfered or lost goods while in custody, obligations for receipt, handling, storage, record-keeping and insurance of the notified area, provision of infrastructure and facilities for Customs staff, and financial security by bond supported by bank guarantee, government bond, or cash deposit.
206/18/2023 - 31-10-2023 GST
Clarifications regarding applicability of GST on certain services
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GST on composite supply and pure agent treatment clarified; principal supply governs rate and specific exclusions affirmed.
Clarifies that input tax credit for the "same line of business" covers passenger transport and renting with operator but excludes leasing without operator; electricity bundled with rent or maintenance is a composite supply taxed at the principal supply rate, while electricity supplied and charged as a pure agent is excluded from value; job work converting barley into malt is treated as job work in relation to food products and attracts the food-product job work rate; District Mineral Foundations Trusts are Governmental Authorities eligible for government exemptions; horticulture services to CPWD with goods not exceeding 25% value qualify for notification-based exemption.
205/17/2023 - 31-10-2023 GST
Clarification regarding GST rate on imitation zari thread or yarn based on the recommendation of the GST Council in its 52nd meeting held on 7th October, 2023
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GST rate on imitation zari thread clarified: metallised polyester/plastic film yarn falls under reduced GST; no inversion refunds.
Metallised polyester film or plastic film converted into yarn or combined with textile yarns falls within the HS description of yarn combined with or covered by metal and is to be treated as imitation zari thread or yarn under Schedule I, thereby attracting the concessional GST rate recommended by the Council; additionally, no refund shall be permitted on metallised polyester/plastic film on account of inversion, and the position has been given effect through amendment of the Central Tax (Rate) notification.
AMENDEMENT TO PUBLIC NOTICE NO.31/2023 - 30-10-2023 Customs
Issuance of H, G and Self category customs pass/card under regulation 13 of the CBLR 2018 —reg.
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Issuance of customs passes: streamlined documentation, electronic processing and prescribed timelines for deficiency response and card issuance.
Amendments delete the requirement to submit four years' business volume documents for fresh issuance and transfer of H, G and Self category customs passes and establish CBLMS processing timelines: deficiency memos issued within ten working days and cards issued within fifteen working days of application or satisfactory reply, with transfer of H and G passes processed within forty five days of application or fifteen days of a satisfactory reply. Physical submission and collection of pass applications is no longer required post CBLMS implementation.
13/2023 - GST (State) - 30-10-2023 GST - States
Clarifications regarding applicability of GST on certain services
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GST applicability clarifications for certain services require uniform adherence by State Tax field formations under implementation guidelines.
GST applicability clarifications for certain services are to be applied uniformly by State Tax field formations in Tripura. Specified State Tax officers are instructed, under the power to secure uniform implementation of the Tripura State Goods and Services Tax Act, 2017, to follow the annexed central guidelines concerning GST on certain services.
12/2023-GST (State) - 30-10-2023 GST - States
Clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on 11th July, 2023
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GST rate and classification clarifications require uniform application by State tax officers under the State goods and services tax framework.
GST rate and classification clarifications issued following the GST Council's 50th meeting are adopted for uniform implementation under the Tripura State Goods and Services Tax Act, 2017. State tax officers are directed to follow the central guidelines concerning GST rates and classification of specified goods, with the objective of maintaining consistency in administration across field formations.

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Minutes of the 52nd meeting of the GST Council held on 07th October 2023

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GST Council updates cover tribunal appointments, guarantee valuation rules, ISD credit distribution, appeal condonation, ENA and rate changes.
The Council approved amendments aligning GST Appellate Tribunal appointments with Tribunal Reforms, clarified taxability and valuation for personal and ... Summary

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Acts Income Tax
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