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    Circulars
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    Extension of timelines and Update of reporting authority for IAs and RAs w.r.t. SEBI Circular for Compliance to Digital Accessibility Circular ‘Rights of Persons with Disabilities Act, 2016 and rules made thereunder- mandatory compliance by all Regulated Entities’ dated July 31, 2025
    Show AI Summary
    Digital accessibility compliance: timelines extended and reporting authority updated for investment advisors and research analysts.
    Regulated Entities must submit compliance/action reports and platform lists, appoint IAAP-certified accessibility auditors, conduct accessibility audits, remediate audit findings, and submit annual audit confirmations within revised timelines; reporting authority for Investment Advisors and Research Analysts is changed to BSE Ltd., while brokers/depository participants report to exchanges/depositories and other entities report to the regulator.
    Technical Clarifications to Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (REs)
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    Cybersecurity and Cyber Resilience Framework: SEBI clarifies scope, equivalence/exclusivity principles and reporting obligations for regulated entities.
    SEBI clarifies CSCRF scope and compliance: REs must apply either the Principle of Exclusivity for systems used solely for SEBI activities or the Principle of Equivalence where primary regulator frameworks provide equivalent controls; REs must demonstrate which principle is relied upon and SEBI reserves the right to verify compliance submissions made to other regulators.
    Revision of Active SIONs pertaining to food items
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    SIONs revision invites stakeholder consultation to clarify input descriptions and specify quantities for food item norms.
    Revision of SIONs for specified food items is being undertaken to clarify generic input descriptions and to specify quantities for alternative inputs. Norms Committee-6 invites comments and suggestions from exporters, importers, industry associations and other stakeholders, to be sent to the NC-VI email address within the prescribed time, with contact details provided for queries.
    Instruction with respect to duties on gifts and personal imports through Courier and Postal mode
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    Duties on gifts and personal imports: zones must publish FAQs clarifying duty, KYC, fees and grievance process.
    Customs Zones must prepare and publish an FAQ-format document on their websites explaining the duty structure on gifts and personal imports with demo duty calculations, applicable KYC norms for courier and postal imports/exports, fees and charges, and the grievance redressal mechanism; zones must maintain records and monitor grievances, widely publicise the FAQs to public and trade bodies, and report implementation difficulties to the Board.
    Relaxation in timeline to submit net worth certificate by Stock Brokers to offer margin trading facility to their clients
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    Relaxation of net worth certificate timelines for stock brokers aligns submissions with financial results reporting timelines.
    Brokers offering the margin trading facility must submit a half yearly auditor certificate confirming net worth as on 31 March and 30 September within the newly harmonised post period deadlines; stock exchanges must amend bye laws, notify members and disseminate the change for immediate implementation under SEBI's regulatory powers.
    Validation of BIS registration at time of clearance
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    BIS registration validation required before customs clearance; only valid registrations permitted, deferred or cancelled rejected.
    Field formations must verify BIS registration details on the BIS-CRS portal before allowing clearance and permit release only for registrations shown as valid; deferred or cancelled registrations must not be accepted. The verification must include confirming the manufacturer name, model number and manufacturing location against the registration record, and the procedure applies to all items requiring BIS registration under the CRO.
    Suspension of SIONs pertaining to food products
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    Suspension of Standard Input Output Norms: specified food-product SIONs suspended, exporters may seek Advance Authorisation alternatives.
    The Public Notice suspends the Standard Input Output Norms (SIONs) listed at Annexure "A" with immediate effect and directs exporters of the affected food products to apply for benefits under Advance Authorisation pursuant to Para 4.03(b)(ii), 4.03(b)(iii) or 4.03(b)(iv) of the Foreign Trade Policy, 2023, as applicable.
    Withdrawal of Public Notice No. 17/2025 dated 07.03.2025 on Automated Refund Processing and Continuation of Manual Filing for Export-Related Refunds
    Show AI Summary
    Automation of Refund Processing requires import refunds only; export refund claims must be filed manually until operational.
    Automation of refund application and processing is presently applicable only to import refunds and not to export-related refunds; accordingly the prior public notice is withdrawn and export refund claims must be filed manually until the electronic module for Refunds Other Than IGST is made operational by DG Systems. A fresh public notice will announce implementation, and difficulties should be notified to the Assistant Commissioner of Customs, Refunds Other than IGST section.
    Fixation of new Standard Input Output Norms (SIONs) at SION No. A-3693 & A-3694 under “Chemical and Allied Product” (Product Code-’A’).
    Show AI Summary
    Standard Input Output Norms: new SIONs enable direct Advance Authorisation for specified chemical exports, streamlining export clearance.
    Fixation of new SIONs A-3693 and A-3694 under Chemical and Allied Product code 'A' notifies input output ratios: A-3693 links Minoxidil Topical Aerosol 5% (60 gm CAN) to Minoxidil USP (3.06 gm) and A-3694 links Benfotiamine (1 kg) to Thiamine Hydrochloride (0.922 kg); Regional Authorities are authorised to grant Advance Authorisation directly using these norms without referral to the Norms Committee, to expedite and standardise export clearance.
    All-India launch of Sea Departure Manifest (SDM) and Sea Departure Notification (SDN).
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    Sea Departure Manifest and Notification mandatory nationwide; filing compliance and support channels required for trade participants.
    Pan-India implementation makes Sea Departure Manifest (SDM) and Sea Departure Notification (SDN) mandatory filings for all sea ports under the SCMTR framework. Stakeholders must comply with required message formats and data structures and consult the Message Implementation Guidelines and SCMTR advisories on the designated portal. Onsite and online training sessions are being provided and technical issues should be raised with the prescribed electronic support teams for resolution.
    Extension of period for completion of Audit as per the proviso to sub-section (4) of section 65 of the WBGST Act, 2017 for the period starting on or after 1st day of April, 2021 and ending on or before 31st day of March, 2022 or part thereof
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    Audit completion period extended for listed GST cases after GSTN technical glitches delayed draft editing and audit progress.
    Extension of the period for completion of audit under the proviso to section 65(4) of the West Bengal Goods and Services Tax Act, 2017 for selected registered persons for the period from 1 April 2021 to 31 March 2022 or part thereof. The completion period, earlier extended up to 22 August 2025 or three months from the actual date of commencement, whichever was later, is further extended for thirty-three listed audit cases because technical glitches in the GSTN BO delayed progress and prevented completion within the existing period. The extension applies case-wise as specified in the annexed list and takes immediate effect.
    Extension of timeline for implementation of SEBI Circular ‘Margin obligations to be given by way of pledge/Re-pledge in the Depository System’ dated June 03, 2025
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    Margin pledge implementation timeline extended to ensure system readiness and compliance by market infrastructures and participants.
    Implementation of the circular requiring margins to be given by way of pledge/re-pledge in the depository system is extended from the original effective date to October 10, 2025 to permit depositories to complete system development and testing. Stock Exchanges, Depositories and Clearing Corporations must notify members, publish the circular, implement systems and procedures to ensure compliance, and amend bye-laws, rules and regulations to effect the change; the circular is issued under statutory regulatory powers to protect investors and regulate the securities markets.
    De-selection of RTPs selected for Audit as per section 65 of the WBGST Act, 2017 for the period starting on or after 18 day of April, 2021 and ending on or before 31st day of March, 2022 or part thereof and for the period starting on or after 1st day of April, 2022 and ending on or before 31st day of March, 2023 or part thereof.
    Show AI Summary
    Audit de-selection under West Bengal GST follows non-existent place of business finding for a registered person.
    One registered person earlier selected for audit under the West Bengal GST regime was deselected for the relevant audit periods because the registered person was found to be non-existent at the declared place of business. The order under section 65 of the WBGST Act, 2017 records that audit was not required for that person and gives immediate effect to the de-selection.
    CBDT Revises Instruction under Black Money Act, 2015 – No Prosecution for Undisclosed Foreign Assets Below ₹20 Lakh (Excluding Immovable Property)
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    Prosecution exemption for small undisclosed foreign assets: no prosecution where such assets (other than immovable property) fall below prescribed threshold.
    The Board directs that prosecution proceedings will not be initiated where penalty is not imposed or imposable in relation to assets (other than immovable property) whose aggregate value does not exceed the prescribed threshold; this amendment aligns the prior instruction with the statutory change and is effective from the date the proviso to the penalty provisions was amended.
    Designation of CAPIO/CPIO/Appellate Authority under section 5(1) and 5(2) of the RTI Act, 2005
    Show AI Summary
    RTI officer designation in Bengaluru Customs Zone sets out the appointed information officers and appellate authority for public access matters.
    Designation of Central Assistant Public Information Officer, Central Public Information Officer and First Appellate Authority for the Bengaluru Customs Zone under sections 5(1) and 5(2) of the Right to Information Act, 2005. The notice names the officers appointed for the Office of the Chief Commissioner of Customs, Bengaluru, sets out their addresses and contact particulars, and states that the arrangement covers RTI matters within the Bengaluru Customs Zone, including the Office of the Commissioner of Customs (Appeals), Bengaluru.
    Guidelines regarding export of items suspected to be covered under SCOMET
    Show AI Summary
    SCOMET classification guidance requires referral to CBIC Customs-III for technical determination and use of DGFT clarification repository.
    Procedures for resolving uncertainty on whether exports fall under SCOMET: consult DGFT's consolidated clarifications repository; if unresolved and exporter or internal resources are insufficient, obtain prior written Commissioner approval and refer the case with full technical documentation to CBIC's Customs-III Single Nodal Point, which will seek DGFT clarification and communicate it to the field. Do not refer SCOMET issues directly to DGFT. A Chartered Engineer certificate is not required for SCOMET classification under the Foreign Trade Policy, 2023.
    Master Circular for Debenture Trustees
    Show AI Summary
    Debenture trustees: SEBI consolidates rules on registration, due diligence, security monitoring, defaults and investor protections.
    SEBI's Master Circular for Debenture Trustees consolidates regulatory requirements: online registration, prior approval for change in control, and board accountability; detailed due diligence duties at appointment and security creation including independent verification, standardized due diligence certificates, and retention of records; mandatory creation, registration and trustee validation of charges before listing; use of a centralised Security and Covenant Monitoring System for asset, covenant and payment tracking with unique Asset IDs; periodic security cover certification and valuation; Recovery Expense Fund mechanics for enforcement expenses; structured investor consent and meeting procedures on default; comprehensive disclosure, reporting, grievance redress and outsourcing/conflict management obligations.
    Regarding verification of Input Tax Credit claims for new registrations, registered after the prescribed time limit under CGST/RGST Act, 2017
    Show AI Summary
    Pre-registration input tax credit requires timely registration applications; delayed applicants cannot claim credit for periods before their application.
    Pre-registration Input Tax Credit on stock is available only where a person liable for registration applies within thirty days of the date on which registration liability arises. The claim requires the prescribed electronic declaration in Form GST ITC-01 within the applicable eligibility period. Proper officers must regularly monitor new registrations and reject Input Tax Credit claims for periods before the registration application where the taxpayer applied after the thirty-day registration period.
    Investment in Government Securities by Persons Resident Outside India through Special Rupee Vostro account
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    Special Rupee Vostro Account investment allows non-residents to place rupee surplus in government securities immediately.
    Persons resident outside India maintaining a Special Rupee Vostro Account (SRVA) may invest rupee surplus balances in such accounts in Central Government Securities, including Treasury Bills; operational instructions have been incorporated in the Master Direction on Non-resident Investment in Debt Instruments and the updated Master Direction is issued with immediate effect, with Authorised Dealer Category-I banks to notify their constituents.
    Mandatory on-boarding of Warehouse Licenses and uploading of monthly returns in the digital Warehousing Module
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    Warehouse licenses must be onboarded and monthly returns uploaded via the digital Warehousing Module; manual filing discontinued.
    All warehouse licences must be on-boarded into the digital Warehousing Module and monthly returns uploaded through that module; manual filing of monthly returns is discontinued. Technical issues while using the module must be reported to the designated helpdesk email and notified to the issuing officer for resolution.

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      Extension of timeline for implementation of SEBI Circular dated February 04, 2025 on ‘Safer participation of retail investors in Algorithmic trading’

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      Algorithmic trading compliance: glide path set for brokers to implement retail API based algo framework, with onboarding restrictions for non compliance.
      SEBI extended the implementation timeline for its February 4, 2025 circular on algorithmic trading, allowing ready brokers to go live from October 1, 2025 ... Summary

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      ActsIncome Tax