Mandatory coal import qualifiers required to specify ash content or calorific value, improving assessment and clearance efficiency.
Mandatory additional qualifiers must be declared in import declarations for coking and non coking coal (CTH 2701) at the time of filing the Bill of Entry under the Electronic Integrated Declaration and Paperless Processing Regulations, 2018. The Annexure prescribes qualifier codes mapping coking coal to ash content bands and non coking coal to gross calorific value bands to improve assessment, reduce queries and facilitate cargo clearance; the requirement is effective from 15.12.2024 and the Public Notice serves as a Standing Order for departmental officers.

Disclosure of carry forward losses mandated in Information Memorandum to aid resolution applicant assessment and plan formulation.
Insolvency Professionals must include a dedicated IM section detailing the quantum of carry forward losses available to the corporate debtor, a breakdown of those losses under the Income Tax Act, 1961, the applicable time limits for utilization, and an explicit statement where no carry forward losses exist; this requirement follows an amendment to Regulation 36 of the CIRP Regulations and is issued under section 196 of the Insolvency and Bankruptcy Code, 2016.

Local currency settlement permitted: Indian rupee and Maldivian rufiyaa allowed alongside ACU mechanism for bilateral trade.
India-Maldives bilateral trade may be settled in Indian Rupee and/or Maldivian Rufiyaa in addition to the ACU mechanism, pursuant to the November 2024 Memorandum of Understanding; the change applies to trade transactions governed by the specified provision of the FEMA (Manner of Receipt and Payment) Regulations, 2023, takes effect immediately, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, with AD Category I banks required to inform their constituents and observe any other statutory permissions.

Compounding of offences: revised framework allows filing anytime, sequences affect compounding charges and payment terms.
Guidelines set the framework for compounding of offences under the Income Tax Act: all offences are compoundable, compounding is not admission, and applications may be filed at any time before the jurisdictional Principal CCIT/CCIT/Pr. DGIT/DGIT using the Annexure I affidavit format. Pending applications as on issuance are governed by the revised rules without fresh filing or fee; defective applications may be cured within one month. Compounding charges are re computed for pending matters as first applications and for subsequent applications are increased by multiplicative rates per sequence, with a 50% surcharge for applications filed more than 12 months after prosecution initiation; payment extensions up to 24 months are allowable without interest.

Custodianship suspension halts fresh intake at a CFS; existing goods may be cleared during office hours after due officer process.
Custodianship of M/s. Sudharsan Logistics Pvt. Ltd., CFS, Chennai has been suspended under Regulation 11(2) of HCCAR, 2009 until further orders; fresh receipt of import/export goods into the CFS is stopped forthwith except where bills of entry or shipping bills were filed before the suspension, and goods held as on the suspension date may be cleared during office hours only after due process by the proper officer.

Waiver of interest or penalty: full tax payment and prescribed forms enable relief under Section 128A, subject to conditions.
Section 128A permits waiver of interest or penalty or both for specified section 73 demands subject to eligibility categories (notices/statements unadjudicated; orders without appellate/revisional disposal; appellate/revisional orders without tribunal disposal). Applicants must file prescribed electronic forms, pay the full tax demanded (with ELR or DRC mechanisms and limited ITC usage exceptions), and comply with timelines; officers process applications under Rule 164 issuing SPL-05/SPL-07, with deemed approval if prescribed time lapses and specific conditions making waivers void where appellate enhancements or unpaid residual interest/penalty remain.

Extension of input tax credit time limit enables retroactive ITC claims, with special rectification procedure and limited refund exception.
Retrospective insertion of sub-section (5) and sub-section (6) to section 16 of the WBGST Act extends the period for availing input tax credit for specified past financial years and for periods affected by revocation of registration cancellation. The Amendment bars refunds of tax paid or ITC reversed due solely to these retrospective provisions, subject to an exception for pre-deposit repayments on successful appeals. A special rectification procedure under section 148 (Notification No. 309-F.T.) prescribes filing, documentation, officer responsibility and timelines to seek rectification of orders confirming demands for alleged wrong availment under sub-section (4).

Stock and Sale export authorizations: permitted to overseas stockists subject to end-use certifications and IMWG approvals.
Amendments permit bulk export of SCOMET items under the Stock and Sale policy from an Indian exporter to an overseas stockist (subsidiary/parent/affiliate/OEM/EMS/CM) subject to documentary proof of relationship, an End Use/End User Certificate listing destination countries, purchase documentation, technical specifications and compliance documents; IMWG grants authorization and in-principle re-export approvals to specified countries, while re-exports to non-preapproved countries require fresh application with EUCs and supporting documents and will be considered on end-use verification. Reporting, annual inventory statements and penalties for non-compliance apply.

Rights issue timelines shortened; exchanges must validate bids and enable automated validation for faster allotment.
Rights issues must be completed within 23 working days from Board approval; issues must remain open between seven and thirty days. Annexure I sets a detailed timeline from Board approval through RE credit, dispatch of letter of offer, bid validation by Stock Exchanges, Depositories and Registrars, issue closure, reconciliation, allotment, fund transfers, listing and commencement of trading. Stock Exchanges and Depositories must develop an automated investor application validation system within six months. ASBA procedures and the roles of SCSBs, Stock Exchanges and RTAs for public issues apply mutatis mutandis to rights issues. Consequential amendments to the Master Circular and filing procedures are prescribed.

Unified electronic customs bonds enable nationwide obligation management, electronic execution, and linked bank guarantees through phased digital implementation.
The Single Unified Multi-Purpose Electronic Bond framework permits importers and exporters to use one all-India electronic bond instead of separate transaction-wise customs bonds at different ports. Users may select obligations, add obligations or bond amounts later, pay stamp duty electronically, and execute bonds with electronic signatures without notarisation. The system also provides online linking and verification of electronic bank guarantees through ICEGATE, with phased implementation supported by detailed advisories.

GST registration revocation powers are authorised for exercise by the designated Joint Commissioner under the State GST Rules.
The Joint Commissioner of State Taxes and Excise (EIU) is authorised to exercise powers under the first proviso to Rule 23 of the Himachal Pradesh Goods and Services Tax Rules, 2017. The authorisation is issued by the Commissioner under delegated powers available under the Himachal Pradesh Goods and Services Tax Act, 2017 and concerns GST registration revocation proceedings.

GST classification and rates clarified: pepper, popcorn, AAC blocks, and agriculturist supplies exempt from registration.
Clarification of GST classification and rates: pepper of genus Piper is under HS 0904 and attracts 5% GST; dried pepper and raisins supplied by an agriculturist are exempt and such agriculturists are not liable to registration under Section 23(1) of the CGST Act. Ready-to-eat popcorn mixed with salt and spices is under HS 2106 90 99 and attracts 5% GST if other than pre-packaged and labelled and 12% if packaged and labelled; sugar-coated popcorn is under HS 1704 90 90 at 18% GST. AAC blocks with over 50% fly ash fall under HS 6815 attracting 12% GST. The Central TRU circular is to apply mutatis mutandis to the Goa GST Act.

Late fee for delayed annual return arises until the complete GSTR-9 and GSTR-9C are furnished together or subsequently.
Late fee under sub-section (2) of section 47 CGST Act is leviable for delay in furnishing the complete annual return under section 44, which includes both FORM GSTR-9 and FORM GSTR-9C where required; the fee is computed from the due date of the annual return until the date the complete return is furnished and is not separately leviable for delayed furnishing of each form. A waiver exempts additional late fee beyond that payable up to the date of furnishing FORM GSTR-9 for fiscal years up to FY 2022-23 if FORM GSTR-9C is filed by 31 March 2025.

GST applicability on penal charges clarified: penal charges by regulated entities for loan breaches are not subject to GST.
The circular applies the Central TRU clarifications mutatis mutandis in Goa, confirming that penal charges levied by regulated entities under RBI directions are charges for breach of contract and not subject to GST; that RBI regulated Payment Aggregators qualify as "acquiring banks" for the Sl. No. 34 exemption for settlement of single transactions up to two thousand rupees (limited to settlement functions, excluding gateways); and regularises various GST positions on R&D grants, skilling services, renting by unregistered persons to composition taxpayers, electricity ancillary services, and Goethe Institute supplies for specified historic periods on an "as is where is" basis.

GST regularization of co insurance apportionment and reinsurance commission clarifies non supply treatment subject to specified tax payment conditions.
The State directs application mutatis mutandis of the Central Tax Circular regularising GST treatment: apportionment of co insurance premium by the lead insurer is not treated as a supply if the lead insurer bears tax on the entire premium from the insured; ceding/reinsurance commission deducted from reinsurance premium is not treated as a supply if the reinsurer pays tax on the gross premium inclusive of the commission. The Circular gives retrospective regularisation on an "as is where is" basis for the period prior to the statutory amendment and invites reports of implementation difficulties.

Single electronic customs bonds enable nationwide digital compliance, consolidating import, export, warehousing and security obligations through one automated framework.
The Single All-India Multipurpose Electronic Bond framework permits importers and exporters to execute one electronic customs bond through ICEGATE for selected obligations, replacing separate transaction-wise bonds across ports. It covers provisional assessment, export promotion, concessional imports or exports, pending compliance requirements, warehousing, and operations in private or special warehouses. Electronic stamping, stamp-duty payment and electronic signatures are completed through the designated platform without notarisation. Electronic bank guarantees may be linked, validated and tracked online; security must remain valid until the relevant obligations are discharged.

Synthetic diamond export qualifiers: declarations voluntary for lab-grown diamonds under one carat; others remain mandatory.
For exports of Lab Grown Diamonds (HPHT/CVD) weighing less than one carat the declaration of the additional qualifiers is voluntary; for all other imports/exports the mandatory additional qualifiers identifying lab grown diamonds by production method continue to apply as previously required.

General Authorization for Export after Repair permits single registration re exports of imported SCOMET items to related entities under quarterly reporting.
The amendment creates a General Authorization for Export after Repair (GAER) allowing re export of imported SCOMET items repaired in India to related entities and authorized repair supply chain actors abroad on the basis of a one time registration and authorization, conditioned on documentary proof of import and repair obligation, no alteration or value addition, specified recipient sameness, exclusion of sanctioned or high risk destinations, mandatory quarterly post shipment reporting, ICP/AEO compliance where applicable, and DGFT's reservation to suspend, revoke or deny authorizations for proliferation or national security concerns.

Automation of Refund Processing enables electronic filing, tracking and electronic credit of customs refunds with shift to post-audit.
Electronic processing of customs refund claims requires applicants to file on the ICEGATE portal with supporting documents, generates an Application Reference Number on filing, permits reassessment requests and verification of bank details, and provides dashboard status and MIS. Proper officers will scrutinize applications, issue deficiency communications within a prescribed timeline, generate acknowledgements when cured, and communicate show-cause notices or refund orders electronically, while refunds sanctioned will be credited electronically to the applicant's registered bank account through the PFMS system.

Customs refund automation enables electronic filing, scrutiny, orders, status tracking, bank-credit disbursal, and post-audit processing through ICEGATE.
Customs refund applications may be filed electronically through ICEGATE with supporting documents, with re-assessment requests and verification of registered bank details also available online. Filing generates a Unique Application Reference Number, and deficiencies must be communicated through the portal within 10 days. Acknowledgements, show-cause notices, and refund sanction or rejection orders are issued electronically. Sanctioned refunds are credited through PFMS to the registered bank account. Concurrent audit is replaced by post-audit, and ICEGATE provides application-status visibility and refund-pendency monitoring.