Investor protection: updated stock broker charter mandates public complaint disclosures and access to ODR and SCORES.
SEBI issues an updated Investor Charter for stock brokers requiring brokers to publish and provide the charter to clients, disclose monthly complaints data on their websites in the Annexure B format, comply with specified service timelines and broker obligations (including trade execution, contract notes, margin and settlement procedures), and implement a layered grievance redressal framework using SCORES and the ODR/SMARTODR platform; the circular rescinds the prior charter and is effective immediately.

Customs cargo custodianship at an inland container depot requires goods security, bond, insurance, tracking and disposal compliance.
M/s. Adani Logistics Ltd. is appointed as Custodian and approved as Customs Cargo Service Provider for the customs area of the Inland Container Depot, Kishangarh. It must comply with customs and cargo-handling requirements; safeguard, receive, handle and store goods; remain liable for pilferage, loss, improper removal and relevant duties; execute prescribed bond and insurance; provide tracking systems and required infrastructure; and bear cost-recovery charges for customs officers. The approval is valid for two years, subject to earlier review, suspension, revocation or cancellation for non-compliance.

Automation of refund processing: electronic filing, deficiency tracking, and electronic disbursal replacing manual refund workflows.
Automation requires applicants to file refund claims and supporting documents via the ICEGATE Portal, enables re assessment requests and pre filled forms, and mandates generation of a unique application reference on filing. Proper officers must intimate deficiencies within a short period, issue acknowledgements when defects are cured, and communicate show cause notices or speaking orders electronically, including examination of unjust enrichment. Sanctioned refunds will be paid electronically to registered bank accounts via the PFMS, while credits to the Consumer Welfare Fund continue as before; audit will shift from compulsory pre audit to post audit with selection criteria to be finalised by audit authorities.

Customs cargo custody requires compliance, cargo accountability, insurance, tracking infrastructure, and regulated disposal of uncleared goods.
M/s. Hind Terminals Pvt. Ltd. is appointed Custodian and approved as Customs Cargo Service Provider for the Inland Container Depot, Dhanakya, Jaipur. It must comply with customs law and cargo-handling regulations, remain accountable for receipt, handling, storage, loss and improper removal of cargo, and ensure safe transport of export goods. Conditions include prior approval for alterations or subletting, execution of bond and insurance, payment of cost-recovery charges, RFID-based tracking infrastructure, and disposal or authorised sale of uncleared goods. The appointment is valid for two years, subject to earlier review, suspension, revocation or cancellation.

Investor Education and Awareness requirement ensures AMCs allocate funds for education and financial inclusion under expense limits.
AMCs must annually set aside at least 2 basis points on daily net assets within the maximum permissible Total Expense Ratio for Investor Education and Awareness, and initiatives under that heading include financial inclusion initiatives as may be approved by the regulator.

Provisional assessment requests can be flagged at filing via new Prov field, eliminating the need to recall RMS bills.
Importers and CHAs must mark the new Prov field as "Y" when filing a bill of entry to request provisional assessment at filing, removing the need to recall RMS facilitated bills. The facility will be available on ICEGATE, stakeholders must report system errors to Deputy/Assistant Commissioners for escalation to DG Systems, AC (EDI) is the nodal officer, and the Public Notice functions as a Standing Order for departmental staff.

Mandatory customs appeal pre-deposits require separate registers for appellate and Tribunal proceedings, recording payment and order particulars.
Mandatory pre-deposit is required for customs appeals involving disputed duty, duty and penalty, or penalty alone. The Air Customs Superintendent in the Review Section must maintain a register recording appellant details, duty-paying document particulars, pre-deposit amount, and relevant appellate or Tribunal order details. Separate registers must be maintained for appeals before the Commissioner of Customs (Appeals) and the Tribunal.

Virtual hearing mandated for tax adjudication, with digital submissions and in-person hearings only by prior permission.
A mandatory virtual hearing regime is instituted for GST proceedings, permitting in-person hearings only with prior Additional Commissioner approval upon written request. Hearing notices with a unique link and Proper Officer details shall be sent to the registered email; links are not to be shared. Authorized representatives must submit a vakalatnama, photo ID and contact details in advance. Hearings will use a pre-intimated application; phone teleconferencing is a fallback for technical issues. Digital submissions via registered email are required; physical documents, if needed, must be attested on every page and lodged at district Facilitation Desks where Nodal Officers will verify, receipt and forward them within five working days. Digital records and submissions are recognised as valid.

Income tax deduction from salaries: revised withholding, reporting and valuation rules including Agniveer and perquisite changes.
The Circular updates withholding and reporting for salary payments in FY 2024 25: it broadens the definition of salary and perquisites to include Central Government contributions to the Agniveer Corpus Fund and specified accommodation benefits, revises perquisite valuation and remote area rules, raises the leave encashment exemption ceiling for non government employees, introduces a deduction for Agniveer Corpus Fund contributions, sets out revised surcharge and new regime tax rates and computation restrictions, formalises employee disclosure for other income to be considered for withholding, amends Form No.16 and 24Q, and clarifies enhanced penalty and prosecution consequences for TDS defaults.

Export transhipment verification governs SEZ container movement, requiring seal checks, document scrutiny, and shipment endorsement at port gates.
SEZ export containers in full container load condition moving under Export Transhipment through JNPT port terminals must undergo preventive verification at the gate before entry for loading on the designated foreign-going vessel. Gate Preventive Officers must check the cargo, verify marks and numbers, confirm seal integrity, and examine the ETP and SEZ gatepass documents. If the cargo is in order, they must manually endorse "Allowed for Shipment" on the ETP copy and SEZ gatepass copy until ICES access is available. Any seal tampering or discrepancy must be reported immediately.

Single unified electronic Customs bond enables all India multi purpose bond submission with e stamping, e signing and bank guarantee linkage.
SEB permits importers/exporters to submit a Single All India Multi purpose Electronic Bond via ICEGATE selecting applicable obligations, with option to add obligations or increase bond amount later. Execution includes digital payment of stamp duty and electronic signatures through NeSL without notarisation; a unique bond number is generated and stored in NeSL and e Sanchit. Electronic Bank Guarantees may be issued by NeSL integrated banks, transmitted to NeSL, and linked and validated on ICEGATE for dashboard visibility; annexures specify formats, scenarios, BG quantum and technical messaging requirements.

Jan-Sunwai virtual grievance hearings to be scheduled weekly, with notified times and time-bound resolutions and monthly reporting.
Requires all Development Commissioners of Special Economic Zones to schedule Jan-Sunwai video conferencing sessions weekly for a minimum duration, designate competent officers to hear and time boundly resolve grievances, publicly notify and display the VC schedule for stakeholders, share the public notice and schedule with the Department of Commerce, and submit a monthly compliance report by the fifth of the following month detailing grievances heard and resolutions offered.

GST classification: agriculturist exemption for dried produce and specified rates apply to popcorn and AAC blocks.
Clarification under section 168 clarifies that pepper of genus Piper is classifiable under HS 0904 with the specified GST rate; dried pepper and raisins supplied by an agriculturist are exempt under the agriculturist exemption in Section 23(1). Ready to eat popcorn with salt and spices is classifiable under HS 2106 90 99 with differential rates depending on packaging and labelling, whereas sugar coated popcorn is classifiable as sugar confectionery. AAC blocks with majority fly ash fall under HS 6815 with the fly ash rate. The Compensation Cess amendment on utility vehicle ground clearance applies from the notification effective date.

Late fee applicability for delayed GST reconciliation clarified: fee runs until complete annual return including reconciliation is filed.
Clarification explains that when FORM GSTR 9C is required, the annual return is incomplete if only FORM GSTR 9 is filed, and the late fee applies for the period from the annual return due date until the complete annual return (FORM GSTR 9 plus FORM GSTR 9C) is furnished. The late fee is not charged separately for delays in each form but is calculated until the combined filing obligation is fulfilled. A waiver is provided for past years subject to specified filing by the announced final date; no refunds for fees already paid.

GST clarifications on penal charges, payment aggregators, skilling services and other exemptions reshape service tax treatment.
Clarifications are issued on the GST treatment of certain services, including penal charges levied by regulated entities, settlement services by RBI-regulated payment aggregators, research and development services against grants, skilling services by NSDC-approved training partners, facility management services to MCD, the status of DDA as a local authority, reverse charge on renting of commercial property for composition taxpayers, electricity utility support services, and services provided by Goethe Institute/Max Mueller Bhawans. Several past periods are regularized on an as is where is basis, while specific exemptions are clarified or restored prospectively.

GST regularization for co-insurance apportionment and reinsurance commission transactions under an as is where is basis.
Regularizing GST treatment of co-insurance premium apportionment and ceding or reinsurance commission deducted from reinsurance premium. The circular treats these transactions as neither a supply of goods nor a supply of services, subject to the condition that tax is paid on the full or gross premium, as applicable. It also regularizes GST payment for the past period on an as is where is basis from 01.07.2017 to 31.10.2024.

Self-sealing permission applications must be emailed with PDF attachments to the designated customs submission address.
Applications for Self-Sealing Permission, registration, or renewal must be emailed to [email protected] with all required documents attached as PDF files and properly named; the email account is solely for submission, and after verification the customs office will send the permission copy to the exporter's email.

Extension of filing deadline for Form 56F extended to end of March to ease compliance for accountant reports.
Extension granted for filing the Form No. 56F accountant's report, moving the deadline previously linked to the audit filing date to the end of March to relieve documented taxpayer hardship and align the report submission with the revised compliance timeline under the Income-tax Act. The Central Board exercised its administrative powers to provide this relief, which applies specifically to the accountant's report required under the provisions for specified tax benefits, without altering substantive statutory requirements.

Disclosure of Most Important Terms requires research analysts to obtain client consent, follow fee limits, payment rules, and grievance steps.
SEBI mandates standardized Most Important Terms and Conditions (MITC) for Research Analysts to be incorporated into research-service terms and disclosed to clients with consent; RAs cannot trade on clients' behalf; fees for individual and HUF clients are subject to a regulatory maximum, advance fees are time-limited with proportionate refunds on early termination, cash payments are prohibited, and RAs must disclose conflicts, refrain from offering assured returns, never seek client login credentials or OTPs, and follow a specified grievance redressal process.

Most Important Terms and Conditions require IAs to disclose fees, consent for trades, ban guaranteed returns, and manage conflicts.
SEBI requires Investment Advisers to include standardized Most Important Terms and Conditions (MITC) in advisory agreements, prohibiting acceptance of client funds or securities, banning assured/guaranteed return schemes, and prohibiting execution of trades without explicit client consent. The MITC set fee and payment rules including prescribed maximums for eligible clients, limited advance fees with pro rata refunds and capped breakage fee, non-cash payment modes, mandatory risk profiling and suitability analysis, conflict-of-interest management favouring non-commission plans, specified grievance redressal steps, and disclosure when services fall outside SEBI's regulatory purview.