Enhanced supervision reporting relaxed for stock brokers as demat tagging exemptions and bank account reporting are harmonised.
Ease of doing business measures relax enhanced supervision reporting obligations for stock brokers that are also primary dealers and harmonise bank and demat account treatment under the Master Circular for Stock Brokers. Demat accounts used exclusively for activities other than stock broking activities are excluded from tagging requirements, and a stock broker which is also a bank or primary dealer need report only bank accounts used for stock broking activities.

GST Appellate Tribunal functioning begins for Kolkata Bench, with filing and jurisdiction rules now applicable for listed territories.
The Goods and Services Tax Appellate Tribunal, Kolkata Bench has commenced functioning at its stated office address at Alipore, Kolkata, with jurisdiction over West Bengal, Sikkim and the Andaman and Nicobar Islands. Appeals, applications and related proceedings from these jurisdictions are to be filed before the Kolkata Bench under the Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025 and other applicable laws. Filing assistance is available through the GSTAT e-filing portal, including a toll-free helpline and incident reporting facility.

Condonation of delay in Form 10A filings clarified for trust registration under the income tax law.
Power to condone delay in filing Form No. 10A for registration under section 12A(1)(ac)(i) is clarified to rest with the jurisdictional Principal Commissioner of Income-tax or Commissioner of Income-tax. Although the Director of Income-tax (Centralized Processing Centre), Bengaluru remains the statutory authority to issue registration upon applications in Form 10A, the authority to condone delay in filing such applications lies with the jurisdictional Principal Commissioner or Commissioner.

Interest subvention eligibility clarified: UIN generation and non-portability govern admissibility, claim process, and bank reporting.
Interest subvention is payable only for export credit disbursed on or after scheme commencement and at the rate prevailing on disbursal; subvention ceases from the date an account becomes an NPA and applies only for the actual outstanding period in case of early foreclosure. A UIN must be generated on or before loan disbursal and is non-portable; change of bank requires a new UIN. Where multiple banks provide credit, the exporter is solely responsible for ensuring aggregate claims remain within the annual ceiling. Banks must register online, submit claims mapped to borrower UINs, and verify IEC status.

Customs operational continuity keeps assessment and cargo clearance active on specified holiday dates to prevent backlog and support trade facilitation.
Customs field formations and assessment groups under Mumbai Customs Zone-II are directed to remain operational on specified weekends and a Tuesday at the end of the financial year to prevent backlog and ensure uninterrupted trade facilitation. The directions cover RMSFC, EDI, import docks, TSK, CEAC, export docks, export stuffing, import noting, PGAS and assessment groups for PAG assessment and, where permitted by the respective NAC, FAG assessment.

Mutual fund regulatory framework updated with consolidated scheme, disclosure, risk and passive fund requirements under new SEBI rules.
Comprehensive regulatory framework for mutual funds is consolidated and updated to align existing SEBI circulars with the SEBI (Mutual Funds) Regulations, 2026, effective April 01, 2026. The circular replaces the earlier Master Circular for Mutual Funds dated June 27, 2024, rescinds specified prior circulars, and preserves actions, rights, liabilities, pending applications, proceedings and penalties under the rescinded instruments as if taken under the updated Master Circular. It also requires periodic and continuous reporting by regulated entities and adopts the meaning given in the relevant Regulations for undefined terms.

Amendment to Standard Input Output Norms adjusts input quantity requirements for Phenoxyethanol exports, effective immediately.
Amendment to SION A-2005 revises the export product entry to Phenoxyethanol (preservative grade) and adjusts permitted input quantities for the associated import items at Sl. No. 2; Phenol remains unchanged while Ethylene Oxide is marginally reduced. The amendment is issued under the Foreign Trade Policy-2023 and takes immediate effect.

Drawback pendency clearance drive targets query replies, sample reports and scroll-in issues for faster sanction of export incentives.
Drawback pendency clearance is undertaken through a special Drawback Mela for exporters, customs brokers and stakeholders with pending drawback claims at the Port Commissionerate. The notice identifies delays caused by non-submission of replies to EDI queries, pending sample-test reports, and SCROLL_IN issues linked to rejected bank account details. Exporters are directed to submit ICES replies, physical documents, e-BRCs where required, correct ICEGATE bank details, and use Sevottam for reprocessing or PC-Scroll management.

Duty drawback on unlocked mobile handsets: merchant exporters required to comply with confirmed entitlement instruction.
Instructions require that duty drawback claims on exported unlocked mobile handsets by merchant exporters be administered in accordance with the referenced judicial determinations, which were upheld and whose review was dismissed; customs field formations must implement and comply with that established legal position in processing drawback claims.

Jurisdictional amendment expands Principal Commissioner of Customs, Visakhapatnam's territorial scope to specified ports, districts and EEZ.
The Notification amends the customs jurisdiction of the Principal Commissioner of Customs, Visakhapatnam by substituting the prior table entry and defining a revised territorial scope that includes Port of Visakhapatnam, Gangavaram Port, Visakhapatnam International Airport, the Bayyavaram Container Freight Station, areas under Greater Visakhapatnam Municipal Corporation, specified districts' Inland Container Depots, airports, Export Oriented Units, Special Economic Zones and warehouses, and the continental shelf and Exclusive Economic Zone facing Andhra Pradesh; the amendment is effective on publication in the Official Gazette.

Pet import facilitation allows stranded Indians to bring dogs and cats from conflict zones under relaxed quarantine conditions.
Facilitation is provided, as a one-time relaxation measure, for the import of pet dogs and pet cats accompanying stranded Indian nationals returning from war-hit Middle East countries where pre-export formalities could not be completed. Import is permitted on owner declaration, proof of residence with the owner, and vaccination records, with rabies vaccination at the port of entry required where records are incomplete or absent. Clearance follows document scrutiny and clinical examination by AQCS, while quarantine and related expenses are borne by the owner where abnormal findings are recorded.

GST appellate tribunal functioning and e-filing portal guidance for appeals, applications, and filing support mechanisms.
Goods and Services Tax Appellate Tribunal (GSTAT), State Bench, Rajkot has commenced functioning at its stated premises, and the notice informs trade, taxpayers and departments of its operational status. It also states that the GSTAT e-filing portal is available for online filing of appeals and applications connected with an Order-in-Appeal under section 107 and an order of the Revisional Authority under section 108, along with a helpline and issue-reporting facility for filing difficulties.

Return of export cargo: procedures under Section 143AA enable BTT, shipping bill cancellation and supervised international transshipment.
Prescribes procedures under Section 143AA for export cargo returning to Indian ports: file Sea Arrival Manifest at port of landing; verify containers and seals, subject tampered containers to 100% examination; coordinate with port of export to verify and cancel Shipping Bills and Let Export Orders and reverse disbursed export incentives; permit Back to Town after confirmation and compliance; DG Systems to provide dummy port codes and post-EGM cancellation facility; ICEGATE to share cancelled Shipping Bill details; maintain manual records until system changes are operational.

BTT procedures require conditional NOC, seal verification and cancellation of LEO and shipping bill on return.
Procedure prescribes conditional Brought To Terminal (BTT) NOC from the AC/DC of the CPP/CFS that granted LEO, contingent on documentary proof of return/suspension of export incentives and taxes (drawback, RoDTEP/RoSCTL, IGST or LUT intimation). Superintendent/PG Tech issues movement orders to terminals, gate officers verify seal intactness and permit release or direct preventive escort and 100% examination for tampered seals. AC/DC will cancel LEO and Shipping Bill (currently manually) when DG Systems enables post EGM cancellation, after which conditional BTT is finalised.

Settlement Guarantee Fund coverage now requires simultaneous default of at least three clearing members; case by case exemptions may be granted.
The circular amends Core SGF stress-testing coverage by requiring Clearing Corporations to calculate credit exposure for each scenario based on the simultaneous default of at least three clearing members (and their associates) causing the highest credit exposure. It also adds a provision permitting SEBI, after due deliberation, to grant case-by-case exemptions or relaxations from strict enforcement of SGF provisions, considering market conditions, adequacy of risk management framework and investor protection.

GST administrative correction updates the circle name for specified GSTIN entries in the earlier memorandum.
Correction issued to an earlier memorandum concerning GST administration in West Bengal. The corrigendum amends the table appended to the second paragraph of the prior memo by substituting the name of the Circle shown in column [e] for the GSTINs listed at serial numbers 2, 3 and 4 with 24 Parganas. The change operates as a targeted clerical modification to the earlier table entry and applies only to the specified GSTIN references.

Pet import facilitation: emergency one time relaxation allowing AQCS clearance subject to vaccination and owner borne quarantine costs.
A one time relaxation permits import of pet dogs and cats accompanying stranded Indian nationals from war hit Middle East locations where pre export formalities cannot be completed. Pre import requirements include owner declaration of residence and available vaccination documentation, with veterinary checks advised when pets are sourced from neighbouring countries. Post import, AQCS will examine documents and clinically inspect animals; pets without up to date certificates or with short vaccination delays will be vaccinated for rabies at port (owner bears costs) and may be quarantined if abnormalities are found, with all quarantine expenses payable by the owner.

Border-country foreign investment restrictions require government approval for covered investors, beneficial ownership changes, and prescribed reporting obligations.
Foreign direct investment from countries sharing a land border with India requires the Government route where the investor or beneficial owner falls within the prescribed restriction. A subsequent direct or indirect ownership transfer causing beneficial ownership to fall within that restriction requires prior Government approval. Beneficial ownership may arise through ownership above applicable thresholds, control of the investor entity, or ultimate effective control over the Indian investee entity. Other covered investments not requiring approval are subject to prescribed reporting, alongside sectoral caps, entry routes, and attendant conditions.

Waiver of port storage charges and reduced reefer plugin fees for stranded East bound export containers; carriers must pass benefits.
JNPA relief directs terminal operators to grant a 100% waiver of ground rent/dwell time charges for up to 15 days and an 80% reduction of reefer plug in charges for up to 15 days for Middle East bound export laden containers stranded within the terminal and meeting the port's specified gate in and location criteria; shipping lines, NVOCCs and freight forwarders must pass these benefits to actual exporters and report implementation difficulties to the SCMTR Cell.

Returning export cargo procedures allow berth and offload with seal verification and Shipping Bill/LEO cancellation following prescribed checks.
Expedited procedures permit export vessels to berth at their originating Indian port and allow offloading without Sea Arrival Manifest or Bill of Entry in specified return scenarios, subject to a master's undertaking, verification of shipping documents, seal integrity checks, cancellation of Shipping Bills and LEOs, recovery of any disbursed export incentives, and 100% examination where seals are tampered; local coordination assigns seal verification to Preventive Sections and Shipping Bill/LEO cancellation and incentive recovery to EDC/Drawback/IGST Sections, with interim manual records until DG Systems enables post-EGM cancellations.