Export obligation periods clarified with pre-import condition from customs clearance, altering compliance timelines for specified imported inputs.
Amendment to Appendix-4J fixes export obligation periods subject to a pre-import condition measured from customs clearance for specified import items, including differentiated periods for categories of spices, drugs from unregistered sources, tea, coconut oil, silk, raw sugar, precious metals for gem and jewellery, penicillin from unregistered sources, natural rubber, notified SION/norm items, maize, walnut, and wheat. Fabrics under the Special Advance Authorization Scheme have their obligation period counted from authorisation issue and may be extended per the Handbook. Certain items are excluded from the table.

Weighment requirement for self-sealed export containers now mandatory at centralized plaza before shipping bill registration.
Mandatory weighment of self-sealed export containers at the Centralized Parking Plaza is required before shipping bill registration for specified non-AEO consignments (those with drawback or IGST refund claims above thresholds, consignments under Advance Authorization/EPCG/DFIA, and goods subject to export duty), plus a daily random sample selection. CPP custodians must provide a container weighment slip at registration and arrange weighment to avoid delay; implementation difficulties may be reported to the designated Appraising Main (Exports) officers.

Fraudulent communications: ignore emails demanding payments and use only the official FCRA online portal for services.
All applications and services under the Foreign Contribution (Regulation) Act, 2010 must be pursued only through the official FCRA online portal and any payment required must be made exclusively via the portal's online payment gateway; fraudulent emails or documents soliciting payments or personal information should not be responded to and verification should be sought through designated FCRA helpdesk and support channels.

Automation of IGCR procedures requires EOUs to obtain IIN and register IGCR bond before filing import entries.
All Export Oriented Units must obtain an IGCR Identification Number (IIN) on the ICEGATE portal and register the IGCR bond before filing bills of entry to claim IGCR benefits; the same automated module will govern SEZ-to-EOU clearances once activated, with implementation effective 01.09.2024 and directives to issue Public Notices, Standing Orders, and provide transitional assistance.

DPD registration verification now requires OTP-confirmed importer email and phone, with local risk manager confirmation for first-time applicants.
First-time DPD registration will require OTP verification of the importer's authorised email and phone via Advait; until DPD officers have Advait access, the DPD Cell will send IEC lists to the Local Risk Manager who will confirm authorised contact details the same day. Importers can request contact changes or nominate a representative through the authorised email. Prior notices on DPD mapping are modified and this Public Notice functions as a Standing Order; operational issues to be reported to the DPD Cell email.

E-Commerce Export Hubs streamline pre-screening, electronic GST to customs linkage, and QR coded package clearance for faster exports.
ECEH operators must electronically capture and validate arriving goods against the GST document, pre screen for description, classification and EXIM policy compliance, modify the GST document if discrepancies arise, and feed validation data into Customs Systems. Upon buyer identification the operator files a Shipping Bill linked to pre screened GST documents, coordinates Customs supervised packing with QR coded packages, files Cargo Ready Report, effects goods registration via QR scanning, triggers RMS assessment or examination as required, and facilitates transshipment and export reporting to establish GST compliance.

Investor complaint review requirements revised: prior board pre approval removed; statements now to be placed quarterly for review.
Amendment aligns REIT disclosure procedures with LODR: the Trustee and Board/Governing Body must ensure investor complaints are redressed and the complaint statement is to be placed quarterly before the Board and Trustee for review; statements of deviation in use of proceeds must be placed for review and submitted to stock exchanges along with financial results. The circular is effective immediately under powers of Section 11(1) of the SEBI Act and Regulation 33 of the REIT Regulations.

InvITs: investor complaint statements to be reviewed quarterly; deviation statements filed with financial results.
The Trustee and the Board/Governing Body of the Investment Manager shall ensure timely redress of investor complaints and shall place the investor complaints statement before them quarterly for review. Statements of deviation in use of issue proceeds must continue until full utilisation or achievement of purpose, be placed before the Trustee and Board/Governing Body for review, and be submitted to the stock exchanges along with the submission of financial results. These amendments are effective immediately.

Waiver of destruction certificate: shipping bills accepted and re export rules relaxed, duty and interest remain payable.
Paragraph 4.49(g)(i) and (ii) now permit submission of all types of shipping bills in lieu of a destruction certificate and remove the requirement to re export unutilised duty free imported drugs to the same supplier; exports after the Export Obligation period that match the Advance Authorisation's description can substitute for a destruction certificate but do not waive liability for applicable customs duty and interest on the unutilised quantity.

Cybersecurity and Cyber Resilience Framework for SEBI entities mandates SOC monitoring, VAPT, audits, CCI and incident reporting timelines.
The CSCRF is a standards based, graded cybersecurity and resiliency regime for SEBI Regulated Entities requiring category specific controls: governance, SOC based continuous monitoring (own/group/third party or Market SOC), mandatory ISO 27001 for MIIs and Qualified REs, structured VAPT and cyber audits by CERT In empanelled auditors with standard formats and timelines, Cyber Capability Index assessments, and mandatory incident reporting (6 hour/24 hour thresholds), RCA, forensic investigation and closure procedures-all to be implemented per the prescribed glide path and reported to the designated authorities.

Exemption for statutory bodies: standardized application process requires prescribed checklist and submission to jurisdictional tax commissioner and CBDT.
Standardizes the administrative procedure for notification under clause (46A) of section 10 by requiring applicants-bodies, authorities, boards, trusts or commissions constituted by or under Central or State Acts-to file applications and all enclosures with the jurisdictional Principal Commissioner/Commissioner or Principal Director/Director of Income-tax and forward an acknowledged copy to the Under Secretary (ITA-I), CBDT, using the prescribed Annexure A checklist. Annexure A specifies identity, legal status, parent Act citation, authorized and actual activities mapped to the clause's purposes, prior approvals or rejections under related provisions, registration status, and three years' financial and tax records, including activity-wise revenue if multiple activities exist.

SGST reimbursement applications must now be filed online through the prescribed portal for eligible industrial units.
Online filing is mandated for applications for grant of entitlement certificate and claim of SGST reimbursement under the Assam Industries (Tax Reimbursement for Eligible Units) Scheme, 2017 and the Assam Industries (SGST Reimbursement for Eligible Units) Scheme, 2021. Eligible units must submit all such applications through the Department's portal from 21 August 2024, and offline applications will not be accepted.

Input tax credit for insurers clarified: ITC available for reimbursed motor vehicle repair costs where insurer is recipient.
Where repair invoices are issued in the insurer's name and the insurer bears the approved repair liability by reimbursing the insured, the insurer qualifies as the recipient of the repair service for the approved claim cost and may avail Input Tax Credit; where invoices include amounts in excess of approved claim cost, ITC is limited to the invoice/to the extent reimbursed for approved claim cost, and invoices not in the insurer's name do not permit ITC.

Use of ICETAB for customs examination enables real time exam reports and image capture, with local review and connectivity obligations.
CBIC mandates use of ICETAB tablets for customs examination: officers must access RMS instructions, Examination Orders and Bill of Entry details on the device, capture up to four images of cargo for integration with e Sanchit, and upload the examination report immediately. DG Systems will issue detailed advisory; exceptions where upload is not possible require prior Assistant Commissioner permission recorded in the report. Principal Commissioners/Commissioners must review weekly, resolve technical issues with DG Systems, ensure network connectivity, and publicize the change.

Salvage value taxability clarified: insurers owe GST only when salvage becomes insurer property after full claim settlement.
GST liability on salvage arises only when salvage vests in the insurance company. If claim settlement deducts salvage as a pre agreed deductible and ownership remains with the insured, the insurer has no GST liability on that deducted salvage. If the insurer settles full IDV without deducting salvage so that salvage becomes insurer property, the insurer must discharge GST on disposal/sale of the salvage.

Reversal of input tax credit: premium portion excluded from taxable value is not treated as exempt, so no reversal required.
Clarification: the portion of life insurance premium excluded from taxable value under the valuation methodology for life insurance is not a separately exempt or non taxable supply; therefore, reversal provisions applicable where inputs are used for exempt supplies do not require reversal of input tax credit in respect of that excluded premium component.

Taxability of employee stock awards: cost-to-cost reimbursements are not subject to GST; facilitation fees are taxable on reverse charge.
Transfer of securities by a foreign holding company to employees of an Indian subsidiary as ESOP/ESPP/RSU, with the domestic subsidiary reimbursing purely the market cost on a cost-to-cost basis, is not a supply of goods or services and does not amount to import of services subject to GST; however, any additional fee, markup, or commission charged by the foreign holding company constitutes consideration for a taxable facilitation service, attracting GST payable by the domestic subsidiary on reverse charge.

Reversal of Input Tax Credit: suppliers may rely on CA/CMA certificates or recipient undertakings to evidence compliance.
Post supply discounts via tax credit notes may be excluded from taxable value only if the recipient has proportionately reversed the ITC; until portal verification exists, suppliers should obtain a CA/CMA certificate with UDIN (or, below the specified tax threshold, a recipient undertaking) listing credit note and invoice details, ITC reversal amounts and DRC 03/return or other evidence-such certificates/undertakings are admissible proof under section 15(3)(b)(ii) and must be produced to tax authorities when required.

Borrowing restrictions for Category I and II AIFs permit limited short-term drawdown financing with investor-cost allocation and disclosure.
SEBI permits Category I and II AIFs to borrow only for temporary operational needs and, additionally, to cover shortfalls in investor drawdowns for imminent investments as an emergency measure, subject to disclosure in the PPM, exhaustion of efforts to obtain the drawdown, borrowing caps tied to the investment amount/investable funds/other undrawn commitments (whichever is lower), charging borrowing costs solely to defaulting investor(s), prohibition on using this flexibility to vary drawdown timelines, periodic investor disclosure of terms and repayments, and a thirty-day cooling-off between permissible borrowings measured from repayment.

Migration of Venture Capital Funds to AIF Regulations enables time bound transfer with tenure treatment and a one time liquidation extension.
SEBI provides a time bound procedure for VCFs to migrate to AIF Regulations as Migrated Venture Capital Funds, requiring submission of the original VCF registration certificate and prescribed information; migration is available until July 19, 2025, with tenure of schemes preserved as per PPM or fixed with 75% investor approval where no definite tenure exists, and a one time additional liquidation period available for schemes whose liquidation period has expired, subject to absence of pending investor complaints and compliance with applicable AIF provisions and reporting requirements detailed in Annexures I and II.