Related party transaction disclosure standards require specified minimum information be provided to audit committees and shareholders for approval.
Listed entities must provide the information specified in the Industry Standards on "Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction" when submitting RPT proposals to the audit committee and when including explanatory information in shareholder notices, pursuant to modifications to Section III B of the Master Circular read with Regulation 23(2), (3) and (4) of the LODR Regulations; stock exchanges and industry associations will publish and promote the standards and ensure compliance.

Dematerialisation requirement: AIF investments must be held in dematerialised form with phased compliance and specified exceptions.
AIFs must hold investments in dematerialised form for any acquisition on or after July 1, 2025; pre-July 1, 2025 investments are exempt unless the investee is legally mandated to dematerialise or the AIF (alone or with other mandated SEBI-registered entities) exercises control over the investee, in which case such investments must be dematerialised by October 31, 2025. Schemes ending on or before October 31, 2025 or in extended tenure as of February 14, 2025 are exempt. Trustees/sponsors must ensure the manager's Compliance Test Report records compliance. The circular is immediately effective.

GST classification and rates clarified for commodities, including agriculturist exemptions and packaged versus non packaged food treatment.
Pepper of genus Piper is classifiable under HS 0904 and taxed under the applicable notification; dried pepper and raisins supplied by an agriculturist are exempt from GST under the agriculturist exemption and not liable for registration. Ready-to-eat popcorn mixed with salt and spices is classifiable under HS 2106 90 99 with differential treatment for packaged versus non packaged sales, while sugar mixed popcorn that becomes sugar confectionery is classifiable under HS 1704 90 90. AAC blocks with over 50% fly ash fall under HS 6815. The compensation cess amendment concerning vehicle ground clearance applies from the substitution notification's effective date.

Import authorisation for premium frozen duck meat limited to hotels rated three star and above; suppliers must provide undertakings and records.
Imports of premium frozen duck meat under the specified ITC HS codes are restricted for supplies destined to hotels rated three-star and above; such hotels may import directly. Distributors/aggregators/suppliers may obtain DGFT Import Authorisations by submitting an undertaking that imports are for eligible hotels, maintaining supply records, and providing GST invoice evidence of previous supplies for subsequent authorisations. Imports will be verifiable and non-compliance can lead to actions under applicable laws.

Amendments during final assessment permitted for bulk cargo, allowing officers to revise invoice details and recalculate assessable value.
Updated EDI functionality allows officers, during final assessment of bills of entry for bulk and liquid bulk cargo, to amend unit price, quantity, invoice number, freight and miscellaneous charges; the system will recalculate the assessable/invoice value based on the amended unit price and amended quantity. The capability is limited to bulk and liquid bulk consignments and is effective as a standing order for officers, with specified helpdesk contacts for issues.

Complete annual return filing requires mandatory FORM GSTR-9C, with late fee continuing until both annual-return components are furnished.
Where FORM GSTR-9C is mandatory, the annual return is complete only when both FORM GSTR-9 and FORM GSTR-9C are furnished. Late fee under section 47(2) applies from the annual-return due date until the complete annual return is filed; it is not separately levied for delays in the two forms. Where FORM GSTR-9C is not required, FORM GSTR-9 determines completion. Excess late fee may be waived for eligible delayed complete annual returns up to the financial year 2022-23 if FORM GSTR-9C is furnished by the specified date, without refund of late fee already paid.

GST service clarifications exempt loan penal charges and define payment settlement relief while regularizing specified intervening-period tax payments.
Penal charges imposed by regulated banks and non-banking financial companies for breach of material loan terms are not consideration for tolerating an act and attract no GST. RBI-regulated Payment Aggregators qualify as acquiring banks for the limited card-payment settlement exemption, but Payment Gateway services are excluded. GST payments for specified past periods are regularized on an as is where is basis for Government-grant-funded research services, eligible skilling services, reverse-charge commercial renting involving composition taxpayers, and listed ancillary electricity transmission or distribution utility services.

GST treatment of co-insurance apportionment and ceding commission is regularized where tax is paid on the prescribed gross premiums.
Specified co-insurance premium apportionment and insurer services involving deduction of ceding or reinsurance commission are treated as neither supply of goods nor supply of services, subject to GST payment on the full insured premium by the lead insurer and on gross reinsurance premium, inclusive of commission, by the reinsurer. GST payments on these transactions for the stated past period are regularized on an "as is where is" basis.

Line of Credit support enables export financing for high-speed guard boats subject to export documentation and FEMA compliance.
A Line of Credit from Exim Bank to Vietnam finances procurement of high-speed guard boats from India; eligible exports must meet Foreign Trade Policy criteria, be declared in the Export Declaration Form/Shipping Bill per RBI instructions, and adhere to the LoC's disbursement timetable. Agency commission is not payable from the LoC; exporters may use their own funds or EEFC balances for commission in free foreign exchange, with AD Category-I banks allowed to remit after full export value realization and compliance with applicable instructions. Directions are issued under FEMA without prejudice to other required approvals.

Government-supported line of credit enables procurement of offshore patrol vessels, subject to export eligibility and RBI declaration rules.
A Government-supported Line of Credit from Exim Bank enables procurement of four Offshore Patrol Vessels in the borrower's country; exports under the facility must meet the Foreign Trade Policy and LoC eligibility. The LoC is effective from January twentieth and limits disbursements to a period ending sixty months after scheduled project completion. Shipments must be declared via Export Declaration Form/Shipping Bill per RBI instructions. No agency commission is payable under the LoC; exporters may pay commissions from own resources or EEFC balances in free foreign exchange, subject to extant rules and AD Category-I bank compliance. The directions are issued under FEMA and do not affect other required approvals.

Tariff rate quota allocation requires certified turnover disclosure and purpose declaration, with periodic utilisation review and reallocation.
Allocation of the Tariff Rate Quota for gold under India-UAE CEPA for FY 2025 26 requires applicants to declare import purpose and submit CA certified GST based turnover details in prescribed formats for specified HS codes; existing online applications may be amended to include these details.

Inactive folio tracing platform enables investors to locate and claim dormant mutual fund holdings and update KYC.
Creates MITRA, a searchable industry-level platform to help investors trace inactive mutual fund folios-defined as folios with unit balance and no investor-initiated transactions in the last ten years-hosted jointly by the two Qualified RTAs as agents of AMCs; QRTAs are jointly and severally responsible for cybersecurity, system audits and BCP/DR compliance, must operationalise the platform within fifteen working days with a two-month beta, and AMCs' Unit Holder Protection Committees must review inactive folios to reduce unclaimed amounts.

Virtual personal hearings under GST to be conducted by video conferencing on taxpayer request, with emailed records and structured submission procedures.
Personal hearings under the GST Act may be conducted in virtual mode through video conferencing where a taxpayer requests that mode of hearing. The procedure covers notice of hearing, transmission of the video link by official email, participation of authorised representatives, preparation of a record of personal hearing, and submission of scanned additional documents within the prescribed period.

Import quota allocation for petroleum coke requires online applications under a specified import authorisation procedure.
The Directorate General of Foreign Trade invites online applications for allocation of import quantities of Calcined Petroleum Coke for the aluminium industry and Raw Petroleum Coke for CPC manufacturing for FY 2025 26, exercising powers under the Foreign Trade Policy, 2023. Applicants must apply via the DGFT Import Management System under Import Authorisation for Restricted Imports with Import Category 'Import of Pet Coke'; submissions under other categories face rejection, and conditions of Public Notice no. 49/2023 dated 11.03.2024 continue to apply.

Mandatory online submission and payment for show cause replies under FTDR Act required through DGFT portal to ensure digital compliance.
Mandatory online submission and payment procedures are instituted for enforcement and adjudicatory processes under the Foreign Trade (Development & Regulation) Act, requiring all replies to Show Cause Notices and related information requests in Adjudication, Appeal and Review proceedings to be filed exclusively through the DGFT portal; paper-based submissions will not be accepted. Penalties arising from orders must be paid electronically against the corresponding online ECA, Appeal or Review file, and use of miscellaneous payment options is discouraged to ensure correct accounting.

Certificates of Origin issuance must be electronic; manually issued CoOs are void and may be rejected abroad.
Certificates of Origin must be issued electronically via the Trade Connect ePlatform; manually issued Certificates of Origin after the specified deadlines will be considered null and void and are liable to be rejected by recipient-country Customs. Instances of contravention should be reported to the Directorate at the designated email, and issuing agencies that continue to violate the mandate may be removed from the list of authorised agencies.

NDS-OM access via Separate Business Unit: SEBI-registered brokers must segregate SBU operations and net worth.
SEBI-registered stock brokers may transact on NDS-OM through a Separate Business Unit (SBU) that is exclusively engaged in NDS-OM activities, maintained at arms-length from the broker's securities market business, with separate accounts and segregated net worth; the broker's net worth for compliance shall exclude the SBU. The SBU's trading activities are subject to the other regulatory authority's framework for policy, eligibility, risk management, inspection and enforcement, and exchange grievance redressal mechanisms and the Investor Protection Fund (including SCORES) will not be available to SBU investors.

Petroleum dealer tax compliance requires timely quarterly returns, monthly tax payments, and default charges for unfiled returns.
Petroleum dealers must file quarterly returns by the prescribed quarterly due dates. Dealers are required to pay tax on sales for each month other than the final month of a quarter within 21 days after month-end, and must pay the balance tax due before furnishing the quarterly return. Return-filing defaults attract tax at 2% per month from the date tax became due until payment or assessment, whichever is earlier.

Intimation requirement for insolvency professionals: appointments must be recorded on the central portal and timelines imposed.
IPs must add assignments on the Board's electronic Assignment Module for specified capacities-IRP, RP, liquidator (liquidation and voluntary), RP and Bankruptcy Trustee for Personal Guarantors, and Administrator for financial service providers-using a unique username/password; after approval the IP must complete subsequent compliances like public announcements, EOIs and auction notices. New appointments require filing within three days; ongoing cases without entries by 28 February 2025; closed cases by 31 March 2025 (personal guarantor closed cases by 30 April 2025). Issued under section 196 of the Code.

Input tax credit treatment for electronic commerce operators under section 9(5) clarified for platform-based specified services.
Electronic commerce operators liable to pay tax under section 9(5) for specified services supplied through their platform are not required to reverse proportionate input tax credit on inputs and input services under sections 17(1) or 17(2) merely because such supplies are made under section 9(5). The clarification distinguishes those supplies from the ECO's own platform services and states that the tax on section 9(5) supplies must be paid only through the electronic cash ledger, while the related credit cannot be used for that liability but may be used for tax on the ECO's own services.