SION amendment updates export import entitlement for shea stearine, linking import quantities to oil content and customs sampling.
Amendment to SION E-125 revises the import entitlement for Shea Stearine export by tying required Shea Nuts quantity to a specified oil content benchmark, provides for pro rata adjustments in permitted import quantity for deviations in oil content, mandates customs sampling and endorsement of oil content on each Bill of Entry, requires redemption of authorizations by the Regional Authority based on the weighted average oil content so endorsed, and permits clearance of consignments after sampling without awaiting test results.

Abeyance of public notice pauses revised wastage and SION changes for precious metals while industry may submit corroborative data.
The notice places the abeyance of Public Notice No. 05/2024-which would have modified permissible wastage and Standard Input Output Norms for gold, platinum and silver-until 31 July 2024, and invites the Gem & Jewellery sector and other industry stakeholders to submit corroborative data on manufacturing workflow and wastage/recovery justifications to the Norms Committee within one month via the provided email.

Bonded air cargo transshipment permits road movement under ECTS seal, with bond accountability and liability for transit shortages.
Permission is renewed for bonded road trucking of air export and import cargo from Air Cargo Complex, Kolkata to Customs-notified airports, Air Cargo Complexes, Container Freight Stations and Inland Container Depots. Cargo must move in closed-body trucks under ECTS seal. The operator's transshipment bonds are debited on taking custody and recredited on delivery to Customs at destination. The operator is responsible for shortages or pilferage and associated statutory payments. Permission remains subject to applicable transit, transshipment, cargo-handling and foreign trade requirements and may be renewed or withdrawn based on compliance.

Audit selection under West Bengal GST targets registered persons listed by risk score and suo motu identification for audit records.
Selection of registered persons for audit of records under the West Bengal Goods and Services Tax Act, 2017 is made under section 65 read with rule 101 of the West Bengal Goods and Services Tax Rules, 2017. A total of 760 registered persons, specified in the annexed list, are selected for audit for the financial years 2020-21 and 2021-22 or parts thereof. The listed taxpayers are shown by jurisdiction and circle, with selection recorded as risk score or, in some entries, suo motu selection.

Abeyance of public notice restores prior wastage norms pending industry data submission and reassessment by the trade norms committee.
Abeyance of a public notice suspends the modification of permissible wastage and Standard Input Output Norms for precious metal content in exports, restores prior wastage norms and SIONs for the interim period, and invites the Gem & Jewellery Export Promotion Council and industry to submit corroborative data on manufacturing workflow, process wastage, and recovery to the Norms Committee for reassessment.

Exchange outage procedures require prompt notification and set conditions for limited extension of commodity derivatives trading hours.
The SOP requires exchanges to notify market participants within 15 minutes and SEBI immediately upon an Exchange Outage, update status every 45 minutes, restore operations including from Disaster Recovery sites, and follow BCP/DR protocols. It prescribes precise cut-off and intimation windows which, if met, allow a single 30-minute Extension of Trading Hours for specified commodity derivatives contracts; failure to provide the intimation by the stated cut-off precludes any extension.

Eligibility criteria for commodity options revised to lower turnover threshold for agricultural underlyings, allowing exchanges to list new contracts.
The circular revises paragraph 6.1.2 to prescribe separate average daily turnover eligibility criteria for Options on Commodity Futures, lowering the threshold for agricultural and agri-processed commodities while retaining a higher threshold for other commodities; Options are permitted only on underlying futures traded on the same exchange that meet these criteria. Exchanges must amend bye-laws, notify members, and publish the changes; the circular is issued under Section 11(1) for investor protection and market development.

Social Stock Exchange: SEBI specifies additional self regulatory organizations authorized to register Social Impact Assessors for SSE compliance.
SEBI specifies that a Social Impact Assessor is an individual certified by the National Institute of Securities Markets and registered with a Self Regulatory Organization; in addition to the Institute of Chartered Accountants' SRO, ICMAI Social Auditors Organization and ICSI Institute of Social Auditors are designated as authorized Self Regulatory Organizations for registration of Social Impact Assessors in the context of the Social Stock Exchange.

Social Enterprises must submit annual disclosures and Annual Impact Reports to the Social Stock Exchange by 31 October 2024.
NPOs registered on the Social Stock Exchange, including those with designated securities listed on the SSE, must submit annual disclosures specified in SEBI's 19 September 2022 circular by 31 October 2024 under Regulation 91C(1). Social Enterprises that have registered with or raised funds through the SSE must submit their Annual Impact Report to the SSE by 31 October 2024 under Regulation 91E(1). A copy of the circular is available on SEBI's website under Legal Framework Circulars.

Sale-to-public requirement for foreign currency notes mandates closer matching of purchases and sales and enhanced recordkeeping.
From July 1, 2024, FFMCs and non-bank ADs Category II must ensure that quarterly sales of foreign currency notes to the public are at least seventy-five percent of purchases from other FFMCs/ADs, maintain sale and purchase data for audit/inspection, may seek counterpart data to verify compliance, and must submit an annual audited balance sheet with a statutory auditor's certificate on Net Owned Funds to the Reserve Bank regional office by October 31.

Wastage norms for jewellery exports revised; input output norms amended, altering permissible input content calculations for exports.
Revised wastage percentages for specified categories of exported jewellery and corresponding modifications to Standard Input Output Norms (SION) M 1 to M 7: SIONs now tie one kilogram of export product to specified import quantities of gold, platinum, or silver per SION category, and imported mountings and findings used in the export product are excluded from net content determination. The amendment is issued under the Foreign Trade Policy, 2023 and Para 4.59(a)-(h) has been kept in abeyance by subsequent public notices.

Dynamic price bands tightened with higher flexing thresholds, phased smaller flexes, sliding bands and aligned cross-exchange implementation.
The circular enhances dynamic price bands by increasing preconditions for flexing to more trades, unique UCCs and trading members; implementing phased, smaller flex increments with longer cooling-off periods; requiring concurrent sliding of the opposite band and cancellation of orders outside the slid band; applying temporary option floors/ceilings linked to LTP or theoretical prices during cooling-off; and mandating cross-exchange alignment, operational procedures, infrastructure changes and phased implementation.

Real-time price data sharing restrictions require agreements, due diligence, and one-day lag for investor-education uses.
Sharing of real time price data with third parties is prohibited except for orderly market functioning or regulatory compliance. Permitted sharing requires a formal agreement detailing permitted uses and justification, annual board review of recipients and activities, due diligence, contractual safeguards against misuse, and best efforts to prevent misuse. Market price data may be shared for investor education only with a one-day lag and without monetary incentives. The circular becomes effective 30 days after issuance; MIIs must implement systems, amend bye-laws, and notify and publish the requirements.

Minimum duration of staggered delivery revised to at least three working days, altering scheduling for commodity futures contracts.
SEBI amends paragraph 11.1.3 of the Master Circular for Commodity Derivatives Segment to provide that the minimum duration of staggered delivery period shall be at least three working days. The change applies to contracts with staggered delivery scheduled after July 01, 2024. Recognised stock exchanges and clearing corporations must notify members and publish the amendment on their websites. The circular is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and operates within the Delivery and Settlement provisions of the Master Circular, with other conditions unchanged.

Audiovisual disclosures must present key offer document information bilingually, uploaded and maintained by issuers and lead managers.
Salient disclosures for main board public issues must be produced as bilingual Audiovisual (AV) presentations, approximately ten minutes per language, factual, non-promotional and compliant with Schedule IX publicity rules. AVs must equitably cover material sections of the DRHP/RHP (company, risk factors, capital structure, objects, business, promoters, management, financial summary, litigations, material developments, offer terms), include a caution directing reliance only on the Offer Document and Price Band Advertisement, be uploaded by issuers and AIBI within five working days of specified filings, made available across digital platforms and QR codes, updated upon RHP/prospectus and price band publication, and remain the responsibility of the Issuer and Lead Managers.

Mid-year Special Drive targets customs clearance delays, with daily monitoring, PGA coordination and ICES/ADVAIT tool use.
A three-week Mid-year Special Drive at JNCH will target assessment, examination and release delays to improve port logistics. Export monitoring will focus on Let Export Order issuance via daily reports and PGA liaison; import monitoring requires Appraising Group coordination, flags for Bills of Entry unattended for 24 hours (11 AM cutoff), RMS FC oversight of facilitated entries and AEO/non-AEO status updates, dock monitoring of examinations and Out Of Charge grants, and CRCL oversight of sample testing and ICES uploads. The MSD will institutionalize faceless assessment monitoring and request MIS enhancements for ICES/ADVAIT. The notice is a Standing Order for officers.

Kerala Flood Cess refund procedures require manual Form KFC RFD-1 filing and treasury disbursal to GSTIN linked bank accounts.
Refunds of Kerala Flood Cess must be claimed by manual application in Form KFC RFD-1 to the jurisdictional Taxpayer Services Division within the prescribed two-year period. Proper officers will process claims and, if sanctioned, issue Refund Sanction Orders (Form KFC RFD-6) and Refund Payment Orders (Form KFC RFD-5) to be forwarded to the District Joint Commissioner, Taxpayer Services for treasury disbursal. Payments shall be released only to the bank account linked with the taxpayer's GSTIN, the head of account will mirror the excess payment head, and the prescribed refund register must be maintained while adhering to statutory time-limits.

Master Circular consolidates SEBI rules for stock brokers, updating registration, supervision, client protections and tech compliance.
SEBI's Master Circular consolidates and updates all applicable circulars for stock brokers up to March 31, 2024, superseding the May 17, 2023 Master Circular, rescinding specified prior circulars as they relate to brokers while preserving prior actions, applications and liabilities, and sets out comprehensive, domain wise operative requirements on registration, supervision, client dealings, technology, QSB designation and enhanced compliance, issued under Section 11(1) of the SEBI Act.

Master Circular standardizes issuance, listing, EBP/RFQ platforms, ISIN limits, LEI and green debt disclosure for corporate debt instruments.
Consolidated SEBI Master Circular prescribes standardized procedures for issuance, application (ASBA/UPI), validation, roles of SCSBs/sponsor banks/stock exchanges/registrars, timelines for allotment and listing (public issues T+6; private placements/EBP timelines), EBP and RFQ electronic platform rules, ISIN caps and reporting, LEI reporting, green debt disclosure and third party review requirements, nominee director and Settlement Guarantee Fund contribution mechanisms, and continuous monitoring and disclosure obligations.

Customs Broker Licensing digital features expand: continuation after proprietor death, offence processing and profile modifications enabled online.
CBLMS has been enhanced to allow a two part Application for Continuation of License after Death of Proprietor under Reg.12 (Part I for eligibility verification and account access; Part II to submit remaining continuation details), a comprehensive Offence Module to manage offence reports, hearings, submissions, notifications and online penalty payment, and applications to modify CB profile data, addresses and add OPS and employee details; ancillary features include Issue Document, public Search CB, QR code status updates, in portal notifications, account lockout protection and user manuals.