GST pre-deposit protection stays recovery of confirmed demand pending Tribunal appeals when payment and undertaking requirements are met.
Recovery of the balance confirmed GST demand is stayed pending operationalisation of the Appellate Tribunal where the taxpayer pays an amount equal to the prescribed pre-deposit through the Electronic Liability Register, Part II, and undertakes to file the Tribunal appeal within the applicable timeline. Amounts inadvertently paid through FORM GST DRC-03 may be adjusted against the demand and pre-deposit through FORM GST DRC-03A, unless proceedings have concluded through FORM GST DRC-05. Failure to make the payment, furnish the undertaking, timely appeal, or submit DRC-03A when available permits recovery.

Valuation framework for AIF portfolios updated to standardise guidelines, valuer eligibility, and reporting timelines.
Valuation of AIF portfolios distinguishes securities governed by mutual fund valuation norms from those requiring industry-endorsed guidelines; eligible industry associations endorsing guidelines must represent at least one-third of registered AIFs and consider AIPAC recommendations, with IPEV Guidelines endorsed. Harmonisation for thinly traded and non-traded securities is required for applicability on or after March 31, 2025. Changes to comply with the standardised approach or within prescribed guidelines are not 'Material Change', but valuations under old and new methodologies must be disclosed. Independent valuers must be Registered Valuer Entities and authorized valuers must hold specified professional qualifications; reporting based on audited investee data is extended to seven months and compliance must be certified.

IGST export refund clarification allows regularization when earlier exempt imported inputs are later taxed with interest.
Clarification is issued on regularization of refund of IGST paid on exports where inputs were initially imported without payment of integrated tax and compensation cess under the specified customs exemption notifications, but later the importer pays those taxes with interest and gets the Bill of Entry reassessed. In such cases, the benefit of the notifications is treated as not having been availed for the purpose of rule 96(10) of the APGST Rules, 2017, and the refund of IGST on exports is not considered to be in contravention of that sub-rule.

Place of supply for data hosting services to overseas cloud providers follows the recipient location default rule under GST.
Data hosting services supplied from India to overseas cloud computing service providers are clarified not to be intermediary services, services in relation to goods made available by the recipient, or services directly in relation to immovable property. The supply is treated as a principal-to-principal data hosting service, with the place of supply governed by the default rule in section 13(2) of the IGST Act, namely the location of the recipient. Where the recipient is outside India, the place of supply is outside India, subject to the other conditions for export of services.

Input tax credit on demo vehicles clarified for authorised dealers using them to promote further supply of similar motor vehicles.
Input tax credit on demo vehicles used by authorised dealers as showroom demonstrators is not blocked where the vehicles are used for further supply of similar motor vehicles, including promotion of sales through trial runs and product demonstrations. The restriction does not apply where the vehicles are used for unrelated purposes or where the dealer only provides marketing or facilitation services without making the supply on its own account. Capitalisation of demo vehicles in the books does not, by itself, affect credit entitlement if the vehicles are used in the course or furtherance of business, though depreciation on the tax component and later sale of capitalised vehicles remain subject to the Act.

Advertising services to foreign clients are not intermediary services when the agency acts on its own account and supplies on principal-to-principal basis.
Where an Indian advertising agency undertakes the entire advertising assignment for a foreign client on a principal-to-principal basis, it is not an intermediary and the foreign client remains the recipient of the service. The target audience in India, or an Indian representative of the foreign client, does not become the recipient where the contract, invoice, and payment are all between the agency and the foreign client. Such services are not performance-based services requiring physical presence and their place of supply follows the default rule as the recipient's location outside India, subject to export conditions. If the agency merely facilitates media space or broadcast between the foreign client and the media owner, it acts as an intermediary and the place of supply is the supplier's location.

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.