Certificate of Origin (Non Preferential) details amended to update authorised agency names and contact information.
Amendment under paragraph 2.04 of the Foreign Trade Policy updates agencies authorised to issue Certificate of Origin (Non-Preferential), renaming Expo Overseas Entrepreneurs Association as Expo Overseas Entrepreneurs Chamber of Commerce and revising its registered and branch office addresses and contact details; it also updates the registered office, telephone, mobile and email details of Gurgaon Chamber of Commerce & Industry.

Concurrent jurisdiction after taxpayer transfer preserves pending scrutiny, audit, refund, and appeal proceedings by the original officer.
Concurrent jurisdiction continues for transferor Charge or LTU officers after transfer of taxpayers, but only to complete proceedings already initiated by them. This applies to scrutiny under section 61, notices under section 73 or 74 until the order stage, audits already commenced for 2018-19 or 2019-20, and refund applications filed before transfer until disposal. The related appellate authority remains the one having appellate jurisdiction over the officer who passed the original order, even after the taxpayer is moved to another jurisdiction.

Reverse charge for director services applies only when services are rendered in the director capacity; personal rentals excluded.
Director-supplied services to a company attract Reverse Charge only when supplied by the director in his capacity as director; services supplied in a director's personal capacity, such as renting immovable property to the company, are not taxable under RCM. Food and beverages supplied at cinema premises constitute restaurant service when supplied as a service and independently of exhibition; bundled supplies of ticket plus food that form a composite supply will be taxed according to the principal supply, the exhibition service.

GST rate reclassification: specified goods re-rated and prior interpretational doubts regularised, with certain supplies placed on reverse charge.
Clarification prescribes GST reclassification and rates for specified goods per the GST Council's 50th meeting, including uncooked extruded snack pellets, fish soluble paste, desiccated coconut, biomass briquettes, imitation zari thread, raw cotton supplies to cooperatives (taxable at 5% on reverse charge), areca-leaf plates/cups, and trauma/spine/arthroplasty implants; most changes take effect 27 July 2023 where specified, and interpretational doubts for defined past periods are regularised on an "as is" basis, with no refunds where higher GST was already paid.

KYC simplification: clients can open accounts once KYC completed; KRAs must promptly verify identity attributes.
Clients may open accounts once proof of identity and address are obtained; KRAs must verify PAN (including PAN-Aadhaar linkage), name and address within two days and also verify mobile number and email ID. Where PAN is exempt, other attributes must be verified. Records verified against official databases will be treated as Validated Records and be portable between intermediaries, with KRAs required to adopt uniform guidelines and integrate systems for transfer and validation.

Exit option window period redefined for change in control - shorter notice generally, extended notice for scheme consolidation or merger.
Unitholders must be offered an option to exit at the prevailing Net Asset Value (NAV) without any exit load within a period not less than 15 calendar days from the date of communication, except where change in control results in consolidation or merger of schemes, in which case the exit option period is not less than 30 calendar days; all other provisions remain unchanged and AMCs must implement changes within one month.

International transshipment procedures require prior airline notification and custodian controls to secure approved onward export movement.
International transshipment at Bengaluru requires airlines to notify and apply via the Cargo Transfer Manifest (CTM) for Customs approval. Approved Custodians/CCSPs must segregate transshipment consignments in a dedicated, scanned area, store and escort approved cargo to outbound flights without routine physical examination except on intelligence, certify marks and numbers, and maintain physical Bond register entries for inter-warehouse movements. Custodians are responsible for receipt, handling, demarcation, recordkeeping, and duty or penalty for loss or pilferage after entry into the customs area.

Actual collection reporting: new ARN-wise entry module requires mobile squad units to record demand and real payments for accurate MIS.
API supplied demand figures without actual paid amounts produced inaccurate MIS; a field-level ARN-wise Entry Module in the MS Entry Menu has been deployed to record, against each ARN, generated demand and actual collection (including DRC-03 payments), display ARNs from March 2022 onward, and permit entries for demand, real collection and actions against identified tax-evasion transport, with specified deadlines and officer accountability for data accuracy.

Reverse charge on director services limited to services rendered in official capacity; personal rentals are excluded from reverse charge.
Services by a director are subject to Reverse Charge Mechanism only when supplied by him in the capacity of director; services supplied in his personal capacity, such as renting immovable property to the company, are not taxable under RCM. Supply of food or beverages at cinema premises constitutes restaurant service if supplied as a service and independently of the cinema exhibition; however, if ticket sale and food supply are bundled and form a composite supply with exhibition as the principal supply, the tax rate for the principal exhibition service applies to the entire bundled supply.

GST classification changes: several goods reclassified or rate reduced and past-period issues regularized on as is basis.
Clarification implements GST Council recommendations reclassifying or reducing GST rates for specified goods and regularising prior-period uncertainties. Un fried/un cooked extruded snack pellets are placed under CTH 1905 and subject to 5% GST for non ready to eat forms while ready to eat extruded products remain at 18%. Fish soluble paste and imitation zari thread are reduced to 5%. Supply of raw cotton by agriculturists to cooperatives is taxable under reverse charge at the concessional rate. Desiccated coconut, biomass briquettes, areca leaf products and HSN 9021 goods are regularised for identified past periods. No refunds where higher GST was paid.

Prior approval for change in control: SEBI prescribes online application, disclosures and fit and proper compliance for intermediaries.
Intermediaries such as Merchant Bankers and Bankers to an Issue must obtain prior approval from SEBI for change in control via the SI Portal, submitting specified disclosures including current and proposed shareholding, past regulatory actions, investor complaints, litigation, fee confirmation and a stamped declaration undertaking board continuity, investor notification and compliance with the fit and proper criteria; additional exchange/clearing/depository approvals apply where relevant, and special procedures govern changes effected through NCLT sanctioned schemes requiring SEBI in principle approval followed by final approval on submission of the NCLT order and related documents.

Listing timeline reduction expedites public issue listing and imposes PAN matching and registrar verification requirements for applicants.
The circular mandates reduction of the listing timeline for specified securities in public issues to T+3 days, prescribing detailed cut-offs and sequencing for application submission, bid validation, UPI mandate reconciliation, finalisation of allotment, fund transfer/unblocking, corporate action for share credit, listing application filing and trading commencement. It requires disclosure of the T+3 timeline in offer documents and advertisements, SCSB PAN matching before ASBA blocking, registrar third party PAN verification with invalidation for mismatches, operational lock in per ICDR and depository SOPs, and recalculation of compensation for delayed unblocking from T+3; applicability includes voluntary and mandatory adoption windows.

Erroneous transfer reversal: OTP exemption permitted after committee review, with hearing, written reasons, and email notification to transferee.
Establishes an operational mechanism permitting exemption from OTP for reversal of erroneous demat transfers, requiring depositories to form internal and joint committees headed by a Public Interest Director (minimum three members). Committees must examine documentary evidence, give both parties a hearing, record written reasons, and decisions must be acted upon with email notification to the transferee. Depositories must also implement beneficiary add-and-verify facilities, amend bye-laws, publish SOPs, and report implementation status to the regulator.

Reverse Charge Mechanism clarified: personal services by directors excluded; only director-capacity services attract RCM.
Services supplied by a director attract Reverse Charge Mechanism only when supplied by him in his capacity as director; personal or private supplies such as renting immovable property to the company are excluded from RCM. Supply of food or beverages in a cinema hall is taxable as restaurant service where supplied by way of or as part of a service and independently of the exhibition service; bundled ticket-plus-food sales forming a composite supply take the tax rate of the principal supply, the cinema exhibition service.

GST rate revisions: select goods reclassified and moved to lower GST band, with past-period positions regularised.
The circular prescribes revised tariff classification and GST rates: uncooked extruded snack pellets, fish soluble paste, imitation zari yarn and goods under HSN 9021 are assigned a 5% GST rate effective 27 July 2023 (with ready-to-eat extruded snacks remaining at 18%); supply of raw cotton by agriculturists to cooperatives is taxable at 5% on reverse charge; desiccated coconut, biomass briquettes and areca leaf tableware issues are regularised for specified past periods. All past-period interpretational doubts are regularised on an "as is" basis and no refunds will be granted where higher GST was earlier paid.

TCS e-commerce operator verification: use documentary verification when a trader's principal place of business is outside the state.
Where a trader under TCS (E commerce Operator) has a principal place of business outside the State and physical verification is not feasible, authorities must conduct documentary and record-based verification to ensure trader authenticity under Rule 12 of the GST Rules, 2017.

Reverse charge applicability on director-supplied services clarified: personal-capacity rentals excluded, director-capacity services covered under RCM.
Entry No. 6 of Notification No. 48/ST-2 applies only to services supplied by a person in the capacity of director; services supplied by a director in a personal capacity, such as renting immovable property to the company, are not taxable under the Reverse Charge Mechanism. Supply of food and beverages at cinema premises is taxable as restaurant service when supplied by way of or as part of a service and independent of the cinema exhibition service, while a bundled supply that qualifies as a composite supply will attract tax at the rate of the principal supply, exhibition of cinema.

GST rate clarification reduces rates for specified goods and regularises past-period treatment for genuine doubts.
Clarification establishes revised GST classification and applicable rates for specified goods, regularises past-period treatment on an "as is" basis where genuine interpretational doubts existed, and confirms that certain items attract 5% GST while others remain at 18% as appropriate. Supply of raw cotton by agriculturists to registered cooperatives is taxable at 5% under reverse charge. Goods under HSN 9021 will attract a uniform 5% GST, and no refunds will be granted where GST was already paid at higher rates.

Refund sanctioning must check and appropriate pending customs arrears from refunds using Arrears Recovery Cell records to prevent double appropriation.
Adjudicating authorities must check pending arrears with the Arrears Recovery Cell before sanctioning refunds and may appropriate refund amounts using the deduction/appropriation power under Section 142(1)(a). Appropriation must be tied to specific recoverable demands with order-in-original details and safeguards must prevent the same arrears being appropriated more than once.

Custodian appointment for Container Freight Station sets customs handling duties, security obligations, reporting requirements, and review-linked continuation.
Appointment of M/s International Cargo Terminal Private Limited as custodian for the Container Freight Station ICTPL was continued for the imported and export cargo handled in the notified area, subject to the Customs Act, 1962 and the conditions of the public notice. The custodian was responsible for receipt, storage, handling, security, records, insurance, infrastructure, staff facilities, monthly reporting, and compliance with restrictions on disposal, subletting and alteration of the CFS plan, with the appointment subject to review, extension and termination under the applicable customs framework.