Transitional credit verification: officers must verify TRAN filings and issue reasoned orders to allow or reject credit.
Jurisdictional tax officers shall verify TRAN-1/TRAN-2 filed or revised in the court-ordered window by accessing the back office portal or the applicant's self-certified copy, commence verification promptly, follow principles of natural justice, and where claims involve both Central and State components refer the relevant portions to the counterpart officer. The counterpart officer must submit a signed verification report in the prescribed format, ordinarily within ten days, after which the jurisdictional officer will issue a reasoned order specifying admissible credit to be uploaded to the common portal and credited to the electronic credit ledger within the court-directed verification timeline.

Refund of unutilised input tax credit: amended calculation applies prospectively and certain goods face prospective refund restriction.
Amendment to the refund computation for unutilised input tax credit due to inverted duty structure revises the formula in sub rule (5) of rule 89; the amended formula applies prospectively to refund applications filed on or after July 5, 2022, while applications filed earlier follow the pre amendment formula. A separate notification bars refunds for specified goods where credit accumulation arises from higher input rates than output rates; that refund restriction is also prospective and applies only to applications filed on or after July 18, 2022.

One time filing window for TRAN 1/TRAN 2: portal filings allowed with annexure and verification, forms frozen on submit.
The circular permits aggrieved registered persons to file or revise Form GST TRAN-1 and TRAN-2 on the GST portal from October 1, 2022 to November 30, 2022 as a one-time opportunity. Applicants may edit forms until they click "submit", must upload Annexure A (and TRANS 3 where applicable), cannot claim certain C/F/H/I Forms issued after December 27, 2017 in TRAN 1 table 5(b)/5(c), must consolidate TRAN 2 claims into one form, and submit a self certified copy with supporting documents to the jurisdictional officer within seven days for verification and adjudication; accepted credit will be posted to the electronic credit ledger.

GST classification clarifications set rates for electric vehicles, mango products, treated sewage water, nicotine gum, fly ash goods and pulse residues.
Electrically operated vehicles are taxable at 5% even without a fitted battery. Minor-polished Napa and comparable building stones qualify for 5%, while fresh mangoes are exempt, sliced and dried mangoes attract 5%, and mango pulp and other dried forms attract 12%. Treated sewage water is exempt, and Nicotine Polacrilex gum attracts 18%. The 90% fly ash-content condition applies only to fly ash aggregate. Pulse-milling by-products used as cattle-feed ingredients are taxable at 5%, with past treatment regularised on an as-is basis.

Credit risk based single issuer limit introduced for mutual fund schemes, imposing rating-tiered exposure caps with limited relaxations.
A credit risk based single issuer limit mandates that mutual fund schemes' investments in debt and money market instruments be capped according to issuer credit rating tiers, with a limited board approved extension allowed subject to the overall regulatory ceiling; long term ratings govern money market exposures with conservative mapping where absent, government money market instruments treated as government securities, new schemes covered from issuance and existing schemes grandfathered until underlying maturities.

Local jurisdiction of Joint Commissioners is allocated by specified tax circles, with pending proceedings continuing under revised territorial assignments.
Joint Commissioners of State Tax are designated as proper officers for specified local jurisdictions, subject to previously fixed pecuniary jurisdiction. The allocation covers identified circles in Raipur, Durg, Bilaspur and enforcement divisions. Matters involving revision, advance rulings, appeals against advance rulings and appellate authority are excluded from these territorial assignments. Completed proceedings are ratified only regarding local jurisdiction, while pending proceedings must continue under the revised allocation from their existing stage.

Proper-officer territorial jurisdiction under SGST is allocated among designated officers, with pending matters continuing under revised assignments.
Assistant Commissioners, Additional Assistant Commissioners and State Tax Officers are designated as Proper Officers for specified local jurisdictions, subject to the prescribed financial jurisdiction. Territorial responsibility is allocated by circle, ward, municipal area, industrial area, tehsil, district and rural area. The designations cover Raipur, Bilaspur, Durg and associated circles. Proceedings completed before issuance are ratified only in relation to local jurisdiction, while pending proceedings must continue and be completed under the allocated jurisdiction from their existing stage.

Transitional credit verification requires jurisdictional scrutiny, counterpart coordination, natural justice, and prevention of duplicate input tax credit claims.
Transitional credit claimed through TRAN-1 or TRAN-2 must be verified by the jurisdictional tax officer using portal data, the applicant's self-certified copy, supporting records, and applicable law. Mixed State and central tax claims require counterpart verification and coordinated reports. Credit may be disallowed only through a reasoned process involving notice, personal hearing, and observance of principles of natural justice. Verification includes prior claims, adjudication or appeals, VAT carry-forward balances, capital-goods credit, stock-based credit, invoice and eligibility conditions, and prevention of duplicate credit through GSTR-3B. Allowed credit is reflected in the electronic credit ledger; excess earlier credit is recoverable with applicable interest and penalty.

Refund of unutilised input tax credit: amended calculation and goods-based restriction apply prospectively to future claims.
Amendment to the formula for refund of unutilised input tax credit on account of inverted duty structure is prospective and applies to refund applications filed on or after the amendment's effective date, with earlier applications processed under the prior formula. The separate restriction denying refunds for certain specified goods is also prospective and applies only to refund applications filed on or after the restriction's effective date, not to applications filed before that date.

Prior approval for change in control: intermediaries must apply online with fit and proper declarations before effecting control change.
Intermediaries specified by SEBI must obtain prior approval for any change in control by filing an online application through the SEBI Intermediary Portal with prescribed disclosures and a stamped declaration from the intermediary and proposed acquirer confirming compliance with fit and proper person criteria, non change of the incumbent board until approval, commitment to honour past liabilities and resolve investor complaints; certain intermediaries must also submit exchange/clearing/depository approvals and, where change arises from a tribunal sanctioned scheme, an in principle approval process and subsequent submission of the tribunal order and approved scheme are required for final approval.

Export compliance for mobile phones requires complete declarations, manufacturer NOC, IMEI lists, and restrictions on activated devices.
Export of mobile phones requires fully completed statutory shipping bill declarations and electronic upload of invoice, purchase order, packing list, genuine IMEI list and a manufacturer/authorized dealer NOC. Used, activated or modified phones are not eligible for export benefits without MOEF clearance and a supporting NOC. Claiming any export incentive mandates uploading all supporting documents and establishing Country of Origin for Drawback/RODTEP claims.

Health certificate requirement for imported milk, pork and fish: integrated certificates accepted; implementation timeline extended.
Imports of milk and milk products, pork and pork products, and fish and fish products must be accompanied by a Health Certificate from the exporting country's Competent Authority in the prescribed format, containing shipment and product details, transport/storage conditions, and attestations on establishment approval, hygiene/HACCP implementation, compliance with Indian food product standards, microbiological criteria, residue and additive limits, authorised official signature and limited validity; an integrated sanitary/veterinary certificate is acceptable if it includes all required information.

Withholding of IGST refunds: system generated refund claims transmitted for risk verified exporters require jurisdictional verification before sanction.
Withholding of IGST refunds is effected where data analysis deems verification of exporter credentials including ITC essential; DGARM places all India alerts on ICES, transmits affected Shipping Bill data to GSTN via ICEGATE which generates system FORM GST RFD 01 claims deemed filed on transmission. Jurisdictional proper officers must process these auto acknowledged refund claims per rule 89 and section 54 timelines, verify genuineness and ITC correctness (including physical verification or supplier investigation if needed), issue detailed speaking orders with Form GST RFD 06 sanctions, and provide feedback on alert continuation or removal to DGARM.

Integration of AQCS-ICS enables online message exchange with ICEGATE for electronic NoC transmission and risk-based selectivity.
Integration of AQCS-ICS into ICEGATE migrates AQCS NoC processing from ICES to online message exchange, enabling electronic transmission of NoCs and real-time trader visibility. Customs will require upload of Veterinary Health Certificates (853AQ1), Laboratory Reports/COA (001AQ1), eSanchit IRNs for Sanitary Import Permits (911DF1) and an item-level AQ002 declaration for specified CTIs; risk-based selectivity will be introduced in stages, post-filing documents may be submitted via ICEGATE or AQCS-ICS portal until full integration, and Customs will accept electronically received Release Orders. Annexures list CTIs and leather-product exclusions.

One-time relaxation for TMA physical submissions permits delayed filing of hard copies; RAs must examine and dispose promptly.
Exporters who submitted online applications under the foreclosed TMA for Specified Agricultural Products for exports up to 31.03.2021 may submit printed ANF 7(A)A and prescribed documents with designated RAs by 31.12.2022; RAs shall examine complete applications per prescribed policy and dispose of them within 30 days of physical submission.

Transitional credit filings through TRAN 1/TRAN 2 require officer verification before electronic credit ledger posting.
Transitional credit claims filed or revised through FORM TRAN 1 and TRAN 2 during the special portal window may be credited to the Electronic Credit Ledger only to the extent allowed by the jurisdictional tax officer after statutory verification. Jurisdictional officers must verify claims using Back Office data and applicant records, coordinate with counterpart central/state officers where claims span jurisdictions, provide notice and hearing where inadmissibility is contemplated, and pass reasoned orders within the prescribed verification period, uploading orders to the portal.

Technical glitch framework requires immediate reporting and detailed RCA, plus capacity, testing, monitoring and DR obligations.
Prescribes a regulatory framework requiring immediate notification to exchanges, a next-day preliminary incident report, and a detailed Root Cause Analysis within fourteen days for any defined technical glitch. Mandates capacity planning, robust software testing and change management, API-based logging and monitoring by exchanges, and business continuity/disaster recovery arrangements including geographically separated DR sites and periodic full-day DR drills. Exchanges will publish incidents and RCAs, issue implementation guidelines, and impose financial disincentives for glitches and non-compliance.

Extension of implementation timelines: SEBI deferred two circulars and directed exchanges and depositories to notify and amend rules.
SEBI deferred the effective dates of two operational circulars: the Demat Debit and Pledge Instruction circular to take effect on or before January 20, 2023, and the Validation of Pay In Instructions circular to take effect from January 27, 2023. The earlier provisions are modified accordingly. Stock Exchanges and Depositories must notify members, amend bye laws/rules for implementation, and report implementation status to SEBI within seven working days after implementation and in Monthly Development Reports.

Timelines for dividend and redemption transfers set firm payment periods and interest for delays borne by AMCs.
Amendments fix timelines for transfers: dividends are to be paid within seven working days from a record date set two working days after public notice; redemption or repurchase proceeds must be transferred within three working days, with an extended five working day period for schemes predominantly invested in prescribed overseas investments. AMFI will publish exceptional circumstances and applicable extended time frames. Interest for delay is payable to unitholders at the prescribed annual rate and borne by AMCs, with payment details to be reported to SEBI in the prescribed compliance format and communicated to investors.

Refund of unutilised input tax credit: amended formula applies to later applications; restrictions on specified goods apply prospectively.
The amendment to the formula in sub rule (5) of rule 89 of the UPGST Rules for refund of unutilised input tax credit under inverted duty structure is prospective and applies only to refund applications filed on or after its effective date; applications filed before that date are to be dealt with under the pre amendment formula. Separately, the notification restricting refunds for specified goods under chapters 15 and 27 is also prospective and applies only to refund applications filed on or after its effective date.