REIT compliance framework consolidates SEBI circulars, mandating online filings, issuance protocols, disclosures and NDCF rules.
SEBI issues a Master Circular for REITs effective on issuance, consolidating prior REIT circulars and superseding those listed, while saving prior acts and pending applications. It mandates use of an online filing portal for registration and compliance, prescribes detailed public-issue and follow-on offer procedures (merchant banker duties, draft hosting, pricing, allocation, ASBA/UPI bidding, anchor/strategic investor rules), dematerialisation of units, and time-bound allotment/listing processes together with extensive continuous disclosure, audit, NDCF computation and investor redressal requirements.

InvIT compliance framework: consolidated rules for filings, public offers, financial disclosures and NDCF reporting under SEBI circular.
Master Circular consolidates SEBI guidance for InvITs, mandating online filings, merchant banker and intermediary due diligence, detailed public issue procedures including ASBA/UPI bidding, allocation and listing timelines, and comprehensive financial disclosure and audit requirements. It prescribes preparation and certification of combined/proforma statements, a precise NDCF computation and distribution framework at SPV/HoldCo/Trust levels, continuous reporting formats and timelines, investor grievance mechanisms, and rules for strategic, preferential and debt issuances, with an Investor Charter and list of superseded circulars.

Budge Budge Jetty 4 declared a customs area for loading dry fly ash into barges for export to Bangladesh via riverine route.
Declaration of Budge Budge Jetty 4 as a Customs Area under Section 8 of the Customs Act, 1962, designating the jetty at Indira Ghat for the sole purpose of loading dry fly ash into barges for export to Bangladesh via the riverine protocol route through Hemnagar LCS, specifying coordinates, area dimensions and surrounding landmarks, and placing the jetty under the jurisdiction of the Principal Commissioner of Customs (Port), Kolkata to address trade compliance with CBIC guidance.

Import restriction on noble metal alloys with gold exceeding threshold now requires restricted classification and customs enforcement.
Amendment imposes a restricted import classification on Chapter 71 items where Iridium, Osmium and Ruthenium alloys contain gold in excess of the specified one percent threshold by weight, expanding the prior restriction (previously limited to Iridium alloys) to include osmium and ruthenium alloys; the corrigendum to Notification No. 18/2025-26 is implemented via Instruction No. 22/2025-Customs which modifies Instruction No. 17/2025-Customs and directs officers to be sensitized for enforcement.

Timely production of audit records required; officers must promptly furnish requested records and secure taxpayers' cooperation.
Officers of the state GST administration must expeditiously furnish all records and information available with, or required to be maintained by, their formations to Comptroller and Auditor General audit teams. Where documents requested are held by taxpayers, jurisdictional officers should request taxpayers to provide them and undertake necessary follow ups to ensure timely production. Difficulties in implementation must be reported to the Commissioner of State Taxes.

Grievance redressal for GST registration: publicise email for complaints, ensure timely resolution and monthly reporting.
Designation of the Additional Commissioner (State Tax) (HQ) as the focal point to receive registration grievances via a publicised email, with applicants required to supply ARN, jurisdiction (Centre/State) and a brief issue description; timely resolution and applicant notification are mandatory, proper officer queries to be advised to applicants, central-jurisdiction grievances to be forwarded to the concerned central office with copy to the GST Council Secretariat, and monthly reporting on grievance status to the Commissioner of State Tax.

Trade Facilitation Centre established to provide single-window taxpayer assistance and grievance redressal at Custom House Chennai.
Establishment of a Trade Facilitation Centre at Custom House, Chennai creates a local single-window helpdesk for importers, exporters, customs brokers and other trade stakeholders to submit queries and complaints by in-person visit, email or telephone. TFC officers will liaise with concerned sections to resolve issues and facilitate meetings with supervisory officers when necessary. The centre will record enquiry details in an interim register/excel until CBIC develops software and will collect feedback to monitor and improve facilitation services.

Standard Input Output Norms updated: new chemical export-to-input conversion norms notified under the Foreign Trade Policy.
The Directorate General of Foreign Trade, under the Foreign Trade Policy authority, notifies three new Standard Input Output Norms for Chemical and Allied Products. Each notification sets an export product with its permitted export quantity and specifies the corresponding import input item with the exact input quantity allowed per unit of export, thereby fixing the input-output conversion norms to be applied for export licensing and compliance.

Legal Section functioning: mandatory monitoring and timely compliance with court orders, filing and case updation obligations enforced.
Instructions require the Legal & Review Section to monitor cause lists daily, comply promptly with Court/Tribunal/RA orders, file counters or appeals within stipulated times with advance placement before the Principal Commissioner, update LIMBS and SAMAY portals with e office intimation, tag similar issue cases, pursue Early Hearing Petitions for long pending matters in consultation with standing counsels, prepare para wise comments to enable counter affidavits, maintain a guard file of orders and related materials, and ensure review of orders addresses SCN points, matches charging provisions, and contains consistent findings.

Audit time extension under section 65 proviso: completion period extended until specified deadline or three months from commencement.
The Commissioner extends the time for completion of audits under the proviso to sub-section (4) of section 65 for the period from 1 April 2021 to 31 March 2022 (or part thereof), acknowledging delays due to auditees' requests for production of books of accounts, and directs completion by 22 August 2025 or three months from actual commencement, whichever is later, with immediate effect.

Import authorisation for low ash metallurgical coke: country wise online applications required; allocations by special EFC and monitoring.
Applicants must file country-specific online applications for import authorisation of Low Ash Metallurgical Coke, limited to one supplier country per application and up to three applications per importer, requesting quantities for the entire restricted period and attaching a covering letter with specified documentary details of steel capacity, monthly met coke requirement, in house production, stocks, contractual purchases, final import requirement and prior quota utilisation; a Special Exim Facilitation Committee will allocate quantities and DGFT will review utilisation after the first quarter and may revise allocations.

Special window for re-lodgement of physical share transfer requests opens, enabling transfer-cum-demat issuance and reporting obligations.
A special window from July 7, 2025 to January 6, 2026 permits re-lodgement of physical share transfer deeds lodged before April 1, 2019 that were rejected/returned/deficient; re-lodged requests will be processed by due process and issued only in demat mode through transfer-cum-demat. Listed companies, RTAs and stock exchanges must publicize the window bi-monthly, maintain focused teams, and submit monthly reports on publicity and shares re-lodged in the Annexure-A format.

Paperless Export Examination enables immediate mobile submission of examination reports and digital export clearance workflows.
Announcement of an Android-based ICETAB application enabling examining officers to access ICES from cargo sheds and submit examination reports immediately, with in-device photo preview, access to Shipping Bill details, e-sanchit documents, RMS instructions and examination orders to facilitate a paperless export examination and clearance process; ICEGATE Helpdesk provided for technical support.

Disposal of uncleared export goods via e-auction under prescribed custodian procedures; sale proceeds governed by statutory allocation.
A one-time administrative arrangement permits custodians to auction uncleared export cargo entered for export up to 31.03.2025, excluding consignments under seizure, investigation hold, or court order. Custodians must list eligible consignments, serve at least three auction notices with specified intervals, compile individual consignment files, obtain required statutory NOCs and analyses, arrange destruction of unfit goods at their expense, procure valuations from two government-approved valuers, fix reserve price via a Disposal/Export Assessment committee, conduct disposal by e-auction, and ensure sale proceeds are handled as per section 150 of the Customs Act, 1962, with completion by 31.12.2025.

Importers of plastic raw material must be registered on the Centralized EPR Portal; verification required at customs clearance.
Importers of plastic raw material must be registered on the Centralized EPR Portal for Plastic Packaging under the Plastic Waste Management (Amendment) Rules, 2024 and Section 6 of the EPR Guidelines. Officers are to verify proof of such registration at the time of customs clearance for consignments of plastic raw material, and administrative instructions should be issued to sensitize personnel to this verification requirement.

GST territorial allocation corrigendum revises jurisdictional sections for Lucknow, Hardoi and Rae Bareli divisions.
A corrigendum to Office Order No. 73 dated 30-06-2025 revises the territorial allocation in Annexure 'C' for certain GST entries. The entry for "Lucknow-A" is amended to cover Sections 1 to 7 of Lucknow Division and all 3 sections of Hardoi Division; "Lucknow-B" is amended to cover Sections 8 to 13 of Lucknow Division and all 4 sections of Rae Bareli Division; and "Lucknow-C" is amended to cover Sections 14 to 23 of Lucknow Division. The remaining provisions of the earlier order continue unchanged.

State tax section reorganisation corrigendum revises territorial mappings for Lucknow, Hardoi and Raebareli divisions.
The corrigendum to Order No. 195 dated 30.06.2025 revises the territorial mapping for specified State Tax entries in Uttar Pradesh. Entry No. 13, Lucknow-A, is expanded to Sections 1 to 7 of Lucknow Division; Entry No. 14, Lucknow-B, is revised to Sections 8 to 13 of Lucknow Division; and Entry No. 15, Lucknow-C, is revised to Sections 14 to 23 of Lucknow Division. The remaining provisions of the earlier order remain unchanged.

Port restriction on Bangladesh textile imports now allows entry only via Nhava Sheva Seaport, barring land border importation.
A new import restriction prohibits specified jute and flax related goods from Bangladesh being imported via any land port on the India-Bangladesh border and allows their entry only through Nhava Sheva Seaport. The rule lists affected HS codes and takes immediate effect; exports from Bangladesh transiting through India to Nepal/Bhutan are exempt, but re export of those goods from Nepal/Bhutan back into India is not permitted. Customs authorities are instructed to implement and report difficulties.

Interest waiver authority: prescribed officers may grant waivers under sections 201(1A)(ii) and 206C(7) subject to filing deadlines.
The prescribed authority is empowered to grant waiver orders only after the Circular's issue date; applications must be filed within one year from the end of the financial year in which the interest is charged, and waiver requests may relate to interest charged before the Circular's issuance so long as the one year filing period measured from the end of the relevant financial year has not elapsed.

Compliance extension for cybersecurity framework granted to regulated entities, with specified exclusions and immediate effect.
SEBI extends the compliance deadline for the Cybersecurity and Cyber Resilience Framework (CSCRF) by two months to August 31, 2025 for all regulated entities except Market Infrastructure Institutions, KYC Registration Agencies, and Qualified Registrars to an Issue and Share Transfer Agents; stock exchanges and depositories must notify members and publish the circular, which comes into force immediately and is issued under Section 11(1) for investor protection and market regulation.