Subscription to non-convertible securities allowed during trading window closure, subject to Board-specified framework and conditions.
Trading window restrictions under the Prohibition of Insider Trading framework shall not apply to subscription to the issue of non-convertible securities where such subscription is carried out in accordance with the framework specified by the Board; this extends the list of transactions already exempted and is effective immediately, with stock exchanges required to notify and disseminate the circular.

Due date extension for amount determination under Direct Tax Vivad Se Vishwas Scheme; declarations by the extended deadline use column three.
The Central Board of Direct Taxes extends the due date for determining the amount payable as per column (3) of the Table in section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024 to 31st January, 2025; declarations filed on or before that date will have amounts determined under column (3), and declarations filed on or after 1st February, 2025 will have amounts determined under column (4), notwithstanding the Scheme, Rules, or Guidance Note.

Change in control: transfers among immediate relatives and transmissions won't trigger control change, subject to fit and proper checks.
Clarifies that transfer among immediate relatives and transmission of shares in unlisted body corporate intermediaries shall not be treated as change in control; proprietary concerns' transmission that alters legal formation or ownership will be treated as change in control requiring prior approval and fresh registration; partnership firms face non control treatment for inter se transfers in multi partner firms but induction of a new partner or dissolution scenarios in two partner firms will amount to change in control; transferees gaining controlling interest must meet fit and proper criteria.

Voluntary payment electronic facility enabled on ICEGATE for self-initiated customs payments, replacing manual TR-6 procedures.
Electronic acceptance of voluntary/self initiated customs payments is enabled on the ICEGATE e Payment platform: registered users may generate self initiated challans and pay without further customs approval. The facility replaces manual TR 6 payments for past clearances and must not be used for live consignments or in place of system generated challans. Payments may be debited from the Electronic Cash Ledger or made challan wise via authorized internet banking, NEFT/RTGS and payment aggregator modes; officers must not accept manual TR 6 after the specified cutoff except with written commissioner approval.

Extension of FCRA registration validity for pending renewals remains until disposal, with refusal causing immediate expiry and restrictions.
Extension of validity of FCRA registration certificates is directed for specified classes of registered entities pending renewal, with such registrations continued until the earlier of an administrative cut off date or disposal of the renewal application. If a renewal application is refused, the certificate's validity is deemed to expire on the refusal date and the association becomes ineligible to receive or utilise foreign contribution.

Interest and penalty waiver requires full tax payment, withdrawal of pending challenges, and compliance with residual payment conditions.
Section 128A provides conditional waiver of interest or penalty or both for eligible tax demands for specified financial years, subject to full payment of tax and electronic application in the prescribed SPL forms. The taxpayer must withdraw pending challenges before applying. Full payment includes demands for excluded periods and erroneous refunds within the same order, although waiver is limited to eligible-period demands other than erroneous refunds. Residual liabilities or additional tax determined in departmental proceedings must be paid within the stipulated period, failing which the waiver becomes void.

Input tax credit time-limit relief enables reconsideration and rectification of eligible claims previously denied under section 16(4).
Retrospective section 16(5) and section 16(6) relief permits eligible input tax credit previously denied under section 16(4) to be considered in pending proceedings and specified rectification cases. Orders confirming such denial may be rectified through the special procedure where no appeal has been filed, subject to electronic application, prescribed supporting details, and consideration of other denial grounds. The procedure is limited to credit now available under the retrospective provisions. Tax already paid or credit already reversed is not refundable solely due to the retrospective amendments, except for eligible appeal pre-deposits.

Pre Shipment Inspection Agency recognition enables PSIC issuance subject to calibration, bank guarantee and mapping compliance.
Nine agencies are recognised as Pre Shipment Inspection Agencies in Appendix 2G under Para 2.52(c) HBP 2023 and six existing PSIAs are authorised instrument and area additions. These agencies must, within forty five days, submit updated calibration certificates valid for at least six months, provide a valid bank guarantee, furnish additional IMC prescribed documents and update equipment to area mapping on the DGFT portal; approvals remain valid for three years or until earlier DGFT notification.

Customs bonded transshipment permission for import and export cargo carriage to and from Jaipur Airport is extended for one year.
Customs bonded transshipment permission for carriage of import and export cargo between all Customs Airports in India and Jaipur Airport, in both directions, is extended to InterGlobe Aviation Ltd. (IndiGo) for a further one year. The extension is subject to all conditions prescribed in the earlier public notices governing the permission.

National Time Release Study measures EXIM cargo clearance times and seeks stakeholder cooperation to optimise release processes.
National Time Release Study, 2025 will assess average end-to-end clearance and release times for import and export goods through a multidimensional methodology. It seeks to optimise EXIM cargo release times using insights from earlier exercises. Importers, exporters, customs brokers, trade participants, customs staff and other stakeholders are requested to participate and cooperate during the study period from 01.01.2025 to 07.01.2025.

Electronic voluntary customs payments replace manual TR-6 procedures for past-cleared transactions through registered ICEGATE self-initiated challans.
Electronic voluntary and self-initiated customs payments on ICEGATE replace manual TR-6 payment procedures for past-cleared import and export transactions. Registered users may generate challans and pay electronically without further approval, but the facility cannot be used for live consignments or replace application-generated challans. Payments may be made through the Electronic Cash Ledger or enabled challan-wise modes. Manual TR-6 payments require specific approval after the transition date, supported by recorded reasons.

Advance authorisation for menthol reinstated; import licences may now be issued under specified HS codes.
Reinstates SION/Adhoc norms for import of menthol with immediate effect under the FTP, covering menthol under specified ITC(HS) codes, and directs Regional Authorities and Norms Committees to consider issuance and fixation of Advance Authorization/DFIA and Adhoc norms in accordance with existing policy and procedure.

Customs brokers' licences must reflect lifetime validity in EDI and CBLMS; update records before 31.12.2024.
Jurisdictions must verify and correct Customs Brokers licence validity entries in the Customs EDI system and CBLMS so they reflect the legally permitted status under CBIC Notification No. 62/2021-Customs (N.T.), which conferred lifetime validity, and complete such updates urgently before 31.12.2024.

Voluntary Self Initiated Payments enabled electronically on ICEGATE, replacing manual challans and allowing registered users to pay online.
Enables electronic collection of Voluntary Self Initiated Payments (SIP) on ICEGATE, allowing registered users to generate self initiated challans and pay online without further Customs officer approval; intended for settlement of past import/export liabilities and not for live consignments. Payment modes include Electronic Cash Ledger debit, challan wise payments routed through the ledger, internet banking via specified banks, NEFT/RTGS, and Payment Aggregator mode. Field officers are directed to cease acceptance of manual over the counter challans after the specified cut off unless exceptional senior approval is obtained; a user manual has been published and wide publicity is required.

AD Code and IFSC registration on ICEGATE requires prescribed bank documents and enables same-day electronic approval.
Registration and modification of AD Code and IFSC Code must be completed via ICEGATE/ICES with specified documents uploaded to e Sanchit: a bank authorization letter detailing exporter name and address, IEC, linked PAN, bank account number and holder, confirmation of PAN linkage, bank AD/IFSC, branch contact details, and a cancelled cheque or endorsed bank statement. After verification, the Customs EDI Section shall approve requests the same day if submitted before the daily cut off; stakeholders should avoid physical interaction and may report delays to the EDI contact.

Documentation requirement: upload complete product specifications and link to entries to avoid LED chip reclassification delays.
Importers must upload complete, legible supporting documentation (Catalogue, Technical Write up, Product Data Sheet, End use, User Manual, photographs) and properly tag those documents to the Bill of Entry in eSanchit to enable accurate tariff classification of LED chips and avoid assessing officers raising reclassification queries; timely, well linked documentation facilitates expeditious assessment and preserves the integrity of self assessment.

GST Council approved legislative amendments, retrospective clarifications, IMS integration and an enabling Track & Trace provision for evasion prone goods.
The Council recommended retrospective amendment to replace "plant or machinery" with "plant and machinery" in section 17(5)(d) w.e.f. 01.07.2017, retrospective insertion of clause for SEZ/FTWZ warehoused goods in Schedule III with no refunds where tax was already paid, and insertion of an enabling provision and penal sanction for a Track and Trace Mechanism for specified evasion prone commodities, with procedural rules to follow after technology finalisation.

Electronic filing requirement for Non Preferential Certificates of Origin now mandatory; implementation awaits the rescheduled eCoO 2.0 launch.
Launch of the enhanced Preferential Certificate of Origin platform eCoO 2.0 has been rescheduled to a later date. Separately, electronic filing of Non Preferential Certificates of Origin on the eCoO 2.0 platform is mandated to commence from the prescribed compliance start date, and Non Preferential CoO issuing agencies listed under the FTP appendix and exporters are required to ensure compliance.

Public consultation period for draft scheme documents reduced to a shorter minimum, permitting quicker filing of final offer documents.
SEBI reduces the mandatory public display period for draft Scheme Information Documents on which observations have been issued to a minimum of eight working days for receiving public comments on disclosure adequacy, after which AMCs may launch the scheme and file final offer documents (SID and KIM) in line with the Master Circular; certain clauses are modified or deleted and SEBI observation validity remains governed by the Master Circular.

Data sharing policy for research: market data divided into public and restricted baskets, with access rules for accredited researchers.
SEBI requires Stock Exchanges, Depositories and Clearing Corporations to segregate market data into two baskets: a public basket of aggregate, analysed and regulator-mandated disclosure data (including voluminous anonymised datasets shareable for research, with limited free provision and cost-based fees for large or value-added requests), and a non-public basket containing identifiable or re-identifiable information such as KYC, pan-wise trade data, tick-by-tick identifiable logs, holdings and confidential clearing data. MIIs must submit uniform basket lists to SEBI within sixty days, publish sample files and a data-request form, and report implementation within three months.