Virtual AGMs and EGMs allowed via VC/OAVM or postal ballot; statutory time limits under the Companies Act remain unchanged.
Companies with AGMs due in 2024 or 2025 may hold AGMs by video conference (VC) or other audio visual means (OAVM) on or before 30 September 2025 according to the requirements in paragraphs 3 and 4 of General Circular No. 20/2020; EGMs may likewise be held by VC/OAVM or items transacted by postal ballot under earlier circulars. The circular clarifies that this administrative allowance does not extend statutory timelines under the Companies Act, 2013, and noncompliant companies remain liable to legal action.

Automated exchange rate publication: latest available SBI rates to be published when scheduled feeds fail, with manual fallback.
When scheduled publication dates fall on a holiday or SBI rates are unavailable due to API errors or incomplete messages, the latest rates received from SBI will be published on ICEGATE on the scheduled date and integrated into ICES to be effective from 00:00 hours of the next day; if integration into ICES does not complete by the cut off, automated alerts will notify Nodal officers and the rates will be updated manually via the Admin interface before the next day.

Interest Equalisation Scheme cap imposed on annual net subvention per IEC, with differentiated limits and temporary effective periods.
The Interest Equalisation Scheme has been extended and, with immediate effect, the annual net subvention per IEC is subject to a fixed cap; a lower interim cap is imposed for MSME manufacturers for the current financial year, and a clarified cap applies to Manufacturer Exporters and Merchant Exporters for an earlier interim period.

Sea Cargo Manifest and Transhipment Regulations require ICEGATE registration and advance JSON manifests for automated cargo and transhipment tracking.
SCMTR requires affected maritime and inland cargo stakeholders to register on ICEGATE and apply (master entity plus authorised persons) with supporting documents and, where applicable, national bonds before operating. It replaces IGM/EGM with Sea Arrival and Departure Manifests and mandates advance JSON filings (SAM/SDM, CIM) with detailed cargo, equipment and person data; the system issues CINs/SMTPs to track consolidation and transhipment. Technical guidance, data formats, phased timelines, amendment rules and exemptions for AEOs/customs brokers are provided, and noncompliance may attract penalties.

Audit deselection under WBGST Act covers six registered persons where audit was considered unnecessary for the relevant periods.
Deselection of six registered persons from audit under section 65 of the WBGST Act, 2017 for the specified periods is recorded on the ground that audit was not required. The annexed list states reasons such as no business activity, insignificant turnover, nil taxable turnover, failure to produce audited balance sheets, and no apparent discrepancy in the records. The order takes immediate effect.

Automation in customs import concessions: implementation for EOUs to streamline registration, IIN generation and bond use.
The Board will implement automation under the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 in relation to Export Oriented Units to address EOU registration, IIN generation and continuity bond utilisation delays; suitable public notices should be issued for guidance and any implementation difficulties must be reported to the Board.

Monetary limits for appeals revised; filing to be determined on merits to curb unnecessary litigation and ensure certainty.
Revision of monetary thresholds governs departmental appeals in income tax matters, specifying increased monetary limits for initiating appeals and making those limits applicable to cases involving tax deduction and collection at source, while reiterating that decisions to appeal where exceptions apply must be taken on merits without regard to monetary effect.

RTI administration designates a Central Public Information Officer for the Rummaging and Intelligence Wing with immediate effect.
RTI administration for the Rummaging & Intelligence Wing of the Office of the Commissioner of Customs (Preventive), Mumbai, is modified by designating Shri D. R. Pardeshi, Assistant Commissioner, as the Central Public Information Officer under the Right to Information Act, 2005. The designation takes immediate effect and continues until further orders, replacing the earlier arrangement.

T+2 trading of bonus shares enabled, allowing market trading two working days after the record date under SEBI procedure.
Enables T+2 trading for equity bonus shares by requiring issuers to obtain in principle approval within five working days of board approval, deem allotment on T+1, and for exchanges to notify acceptance and the deemed allotment date. Depositories must receive documents for credit by 12:00 PM on T+1 and issuers must upload distinctive number ranges; shares will be tradable on T+2. Direct credit into permanent ISINs is permitted for bonus issues. The procedure applies to bonus issues announced on or after October 1, 2024, and non compliance attracts penalties under existing SEBI guidance.

Continuity bond requirement enables duty-free temporary import and monitored re-export of durable containers with timelines and reporting.
Container Agents must execute a Continuity Bond (covering only the duty element) filed with the Deputy/Assistant Commissioner, Transhipment Section, ACC Bengaluru. The Section maintains a manual Bond Register to record arrivals, debit/credit movements and to permit intra-airport and exporter movements. Landing certificates must be filed within ten working days and exporter-returned containers within seven working days. Re-export must occur within six months; extensions up to three months (Deputy/Assistant Commissioner) or further periods (Principal Commissioner) may be granted for recorded reasons. Monthly re-export statements are required; defaults invite Customs Act action.

Centralized fee collection mechanism for registered investment advisers and research analysts enables transparent client payments through an ASB portal.
Optional Centralized Fee Collection Mechanism (CeFCoM) allows clients to pay fees to registered Investment Advisers and Research Analysts through a designated platform administered by a recognized Administration and Supervisory Body (ASB), creating a closed, transparent payment ecosystem; ASB and registrants are to encourage use and the implementing market infrastructure entity will specify the operational framework and rollout.

Reporting obligations for FVCIs: revised quarterly format, mandatory submissions and custodian responsibility enforced.
Foreign Venture Capital Investors must submit quarterly reports in a revised format for all quarters, including when no investments occur. Initial reports are to be emailed in the revised excel format and thereafter filed on the intermediary portal within the prescribed post quarter period. The template requires detailed general information about the FVCI, custody and banking details, investible funds and cumulative and quarterwise investment breakdowns by instrument, scheme and industry, and disclosure of regulatory status and any non adherence to securities laws.

IGST refund regularization allowed where IGST and cess are later paid with interest and the Bill of Entry reassessed.
Where inputs were initially imported under customs exemption without payment of IGST and compensation cess but the importer subsequently pays IGST and compensation cess with interest and secures reassessment of the Bill of Entry by jurisdictional customs authorities, the IGST refunded on exports will not be regarded as contravening the refund bar; the Explanation clarifies that benefit of the exemption is not deemed availed if IGST and cess are paid and only basic customs duty exemption remains.

Place of supply determined by recipient location: data hosting to overseas cloud providers treated as export of services.
Place of supply for data hosting services by Indian providers to overseas cloud computing providers is the recipient's location under the default IGST rule; such suppliers are not intermediaries, their services are not in relation to goods made available by the recipient, nor directly in relation to immovable property, and therefore the supply can qualify as an export of services subject to other export conditions.

Input tax credit on demo vehicles permitted when used to promote further supply, with limits for agent arrangements and depreciation.
Demo vehicles used by authorised dealers to provide trial runs and demonstrate features promote sales and therefore qualify as being used for making further supply of such motor vehicles; accordingly, input tax credit on such demo vehicles is not blocked. Where demo vehicles are used for other purposes or where the dealer only provides marketing/agent services and does not make the supply on its own account, ITC is not available. If demo vehicles are capitalized they are treated as capital goods and ITC is permitted subject to the statutory depreciation limitation on the tax component and to adjustment on subsequent sale.

Place of supply of advertising services: principal-to-principal supplies to foreign clients qualify as exports, agent services treated differently.
Where an Indian advertising company contracts and pays media owners in its own name, supplies a comprehensive advertising service to a foreign client and invoices the foreign client in foreign exchange, the agency acts on its own account (not as an intermediary) and the place of supply is the location of the recipient (the foreign client) outside India, making the service export of services subject to export conditions. Conversely, where the agency merely facilitates a direct contract between foreign client and media owner, it is an intermediary and the place of supply of its facilitation services is the supplier's location in India.

GST rate clarification: specified goods classification and past period regularisation enable defined tax treatment and compliance conditions.
Solar cookers using solar and grid electricity are classifiable under heading 8516 and attract 12% GST. All types of sprinklers, including fire water sprinklers, attract 12% GST, and issues for past periods are regularized on an as is where is basis. Parts of poultry keeping machinery are classifiable under tariff item 84369100 and attract 12% GST, with the rate schedule amended to expressly include such parts and past doubts regularized on an as is where is basis. The definition of pre packaged and labelled excludes agricultural produce in packages over 25 kg or 25 l, excluding them from the 5% levy.

GST exemptions and regularisation clarified for railway services, RERA collections, digital incentives, reinsurance, retrocession, and accommodation services.
Clarifications were issued on the GST treatment of specified services, including exemptions, regularisation of past periods on an 'as is where is' basis, and the scope of existing exemption entries for railways, real estate regulation, digital payment incentives, insurance reinsurance, retrocession, and accommodation services. GST exemption was clarified for certain services provided by Ministry of Railways to the general public and for inter-zonal services within Indian Railways, and related past periods were regularized. The circular also clarifies that statutory collections made by RERA are exempt, that further sharing of the notified digital payment incentive is a non-taxable subsidy, and that reinsurance includes retrocession services.

Near zero data loss requirement strengthens business continuity plans, mandating near site replication and DRS staffing parity.
MIIs must implement Near Site (NS) capability alongside Disaster Recovery Site (DRS): stock exchanges must achieve near zero data loss at NS, clearing corporations and depositories must achieve zero data loss. Recovery Point Objective (RPO) must be near zero, with documented data reconciliation for resumption from DRS/NS. DRS must be staffed with personnel having equivalent expertise to Primary Data Centre (PDC) and capable of independently running live operations. Solution architectures must ensure high availability, fault tolerance, no single point of failure, data and transaction integrity; synchronous replication between PDC and NS is required.

IGCR automation: EOUs must obtain IIN and register IGCR bonds on ICEGATE to access concessional import benefits.
EOUs and SEZ units must transition import clearances to the IGCRS framework, obtain an IGCR Identification Number (IIN) on ICEGATE, and register an IGCR bond to claim concessional imports under Notification No. 52/2003. Prior intimation via the IGCR module generates the IIN; bonds already submitted in the year may be registered as IGCR bonds. Bills of Entry must declare the IIN and specified bond details; the system will automatically debit the IGCR bond and any bank guarantee upon BoE submission. Implementation was extended to 17.09.2024 to facilitate compliance.