Depository receipts on InvIT units require eligible non-resident holders, international exchange listing, and prescribed issuance and disclosure safeguards.
Depository receipts on Infrastructure Investment Trust units must be denominated in foreign currency, issued by an eligible foreign depository against units held with a registered domestic custodian, and listed on a specified international exchange in India's International Financial Services Centre. Receipt holders and their beneficial owners must not be resident in India. Unitholder approval is generally required for a fresh issue, with at least 75% of votes cast in favour, subject to specified exceptions. The investment manager must ensure applicable compliance and minimum public unitholding. International exchange disclosures must also be filed with the recognised domestic exchange within 24 hours.

Cooling-off periods for offers for sale of illiquid private listed InvIT units are reduced with immediate effect.
The cooling-off period for offers for sale (OFS) involving illiquid units of private listed Infrastructure Investment Trusts (InvITs) is reduced to +/-8 weeks with immediate effect. The OFS framework for listed company equity shares also applies to units of Real Estate Investment Trusts (REITs) and InvITs, subject to specified conditions. For InvITs, the OFS trading lot must match the prescribed secondary-market trading lot. Retail investor provisions do not apply to OFS by private listed InvITs, and such offers remain open for one day only, on T day.

SCOMET authorisation facilitation extends to eligible status holders, while general export-after-repair authorisation validity is also extended.
SCOMET authorisation-based facilitation is extended to eligible 4-Star and 5-Star Status Holders through amendments to Chapter 10 of the Handbook of Procedures, 2023. The validity of the General Authorisation for Export after Repair in India (GAER) is also extended. The eligibility conditions for the facilitation and the duration of the GAER validity extension are not specified.

Sea cargo manifest compliance requires phased replacement of erstwhile export messages with CIM messages, without implementation-phase penalties.
Sea cargo manifest compliance under the Sea Cargo Manifest and Transhipment Regulations, 2018 requires phased discontinuance of erstwhile export messages and adoption of CIM messages, with the transition extending through 31 January 2027. All stakeholders must adopt SCMTR-compliant software and message formats during the transition. Field formations may issue public notices and conduct stakeholder outreach in coordination with stakeholders, shall resolve system issues in coordination with DG Systems and bring policy issues to the Board. No penal action should be taken during the implementation phase; implementation difficulties may be brought to the Board.

RELIEF Sub-Committee will review implementation, fund utilisation and uptake, recommending measures for consideration by the steering committee.
RELIEF Sub-Committee is constituted under the Export Promotion Mission to improve fund utilisation and uptake of the Support for Indian Exporters, Resilience & Logistics Intervention for Export Facilitation. It must review implementation of RELIEF's three components, including claims processed and available balances, examine factors affecting uptake and utilisation of approved funds, and recommend improvement measures. Recommendations are placed before the EPM Steering Committee for decisions concerning review of RELIEF, while the EPM Section acts as the Sub-Committee's secretariat.

GST treatment of grant-funded research, shipping imports, vehicle leasing and banking services follows specified exemption, valuation and taxability principles.
Under banks' fund transfer pricing mechanism, notional amounts or interest recorded against the activity of making a loan or advance fall within the definition of interest for the applicable GST exemption. Co-lending services provided by a non-banking financial company to a bank are taxable under GST. These services include customer sourcing, credit appraisal, servicing, collection and recovery, and their taxable value is the value specified in the agreement between the parties.

GST classification and input tax credit guidance covers toys, bio-stimulants, sublimation paper and used vehicle supplies.
Sublimation paper falls under heading 4809 and attracts 18% GST. Registered seaweed-extract-based bio-stimulants fall under heading 3101, with past-period disputes recommended for regularisation on an "as is where is" basis. Toy entries cover all categories under heading 9503: non-electronic toys attract 5% GST and electronic toys attract 18%, including their parts and accessories. Under the used motor vehicle margin scheme, the input tax credit restriction applies only to tax paid on procured second-hand vehicles; credit on other inputs and input services remains subject to the applicable Act.

Export refund restrictions are treated as retrospectively omitted, with corresponding treatment for other omitted rules and pending proceedings.
The omission of rule 96(10) is clarified as effective retrospectively from 23 October 2017. Field formations are advised to deal with pending proceedings concerning the restriction in accordance with the Supreme Court's decision in Goodluck India, and corresponding treatment applies, with necessary modifications, to the omission of rules 89(4A) and 89(4B). Section 6 of the General Clauses Act, 1897, does not apply to the omission of a rule; pending proceedings can continue only where an express provision or another legal device in the statute or rules preserves them.

Export payment compliance covers repatriable rupee receipts, permitted set-offs and reinsurance commission retention, with refund recovery for unrealised goods proceeds.
Receipt of export-of-service consideration in convertible foreign exchange or through repatriable rupee accounts, including Special Non-Resident Rupee (SNRR), INR Nostro and comparable accounts, satisfies the payment condition for export of services under section 2(6)(iv) of the Integrated Goods and Services Tax Act, 2017. Export receivables set off against import payables satisfy the same payment condition when the set-off complies with RBI directions. For exported goods, non-realisation of sale proceeds within the period prescribed under the Foreign Exchange Management Act, including extensions, requires deposit or recovery of the refund attributable to the unrealised amount, with applicable interest, within 30 days of expiry. Recovery under rule 96B of the West Bengal Goods and Services Tax Rules does not apply to the extent the realisation requirement is written off by the RBI or an authorised dealer bank.

GST enforcement reforms suspend arrests, restrict transit interception, and bar low-value show-cause notices pending statutory amendments.
Pending statutory amendment, GST field formations must not make further arrests. Transit conveyances may be intercepted only on specific intelligence authorised in writing by an officer of at least Joint Commissioner rank. Inspection and detention generally depend on jurisdiction over the supplier or recipient; where neither falls within that jurisdiction, the conveyance must proceed and information be sent to the jurisdictional officer. Absence of both an e-way bill and origin or destination documentation permits inspection, detention or seizure irrespective of jurisdiction. Transit confiscation is prohibited, and show-cause notices cannot be issued below the aggregate threshold of Rs. 10,000.

Digital accessibility compliance deadlines are extended for regulated entities to appoint IAAP auditors, audit platforms and remediate findings.
Digital accessibility compliance deadlines for SEBI-regulated entities are extended to 31 January 2027 for appointing an IAAP auditor, conducting accessibility audits of digital platforms and remediating audit findings. The earlier digital accessibility directions concern the Rights of Persons with Disabilities Act, 2016 and the rules made under it, and require mandatory compliance by all regulated entities. All other provisions of the earlier digital accessibility circulars remain unchanged and must be complied with by regulated entities.

KYC review periodicity for foreign portfolio investors is extended while registration continuance no longer requires change declarations.
KYC review for FPIs follows a risk- and category-based schedule. Category I FPIs in non-high-risk jurisdictions, and high-risk Category I FPIs registered under Regulation 5(a)(i), are reviewed every eight years; other specified FPIs are reviewed every two years. Registration continuance requires fee payment to the DDP at least 15 days before expiry and no longer requires change intimation or a no-change declaration. GS-FPI and SWAGAT-FI KYC periodicity remains unchanged.

Certificate of origin declarations in shipping bills become mandatory for preferential tariff claims on exports to New Zealand.
Customs EDI filing for exports to New Zealand requires item-level Certificate of Origin declarations in Shipping Bills for preferential tariff treatment under the India-New Zealand Free Trade Agreement. Every item must carry Info_Type "ORC", Info_Qfr "EPT", and Info_CD "FTANZD"; exports outside a preferential trade agreement must use Info_CD "NCPTI". Non-declaration prevents Shipping Bill filing. Certificate of Origin numbers and dates must exactly match those issued by the designated issuing authority.

GST treatment of research grants, leasing recoveries, internal banking interest, and co-lending services is clarified.
Grant-funded research and development services supplied by specified Government entities and notified institutions may claim exemption on a certificate from the institution's head confirming that the activity is R&D rather than consultancy. Separately recovered registration, insurance, FASTag, and related expenses in motor-vehicle leases form part of the composite leasing supply and are taxable at the leasing-service rate. Notional interest under bank Fund Transfer Pricing for loans or advances falls within the interest exemption, while NBFC lending services to banks in co-lending arrangements are taxable at the contractually agreed value.

GST classification clarifications align toy coverage, margin-scheme input tax credit, and bio-stimulant treatment with prescribed rates.
Sublimation paper is classified under heading 4809 and attracts GST at 18%, while past disputes are recommended for regularisation on an "as is where is" basis. Toy entries cover all toys under heading 9503, with respective treatment for non-electronic and electronic toys. Under the old and used motor vehicle margin scheme, input tax credit restriction applies only to tax paid on procurement of second-hand vehicles; credit on other inputs and input services remains available subject to the CGST Act. Registered seaweed extract-based bio-stimulants are classified as fertilisers under heading 3101.

Interim stay of a shipping company's customs suspension precludes acting on the suspension order and related public notice.
Interim stay applies to the operation, implementation and effect of the suspension order concerning M/s Aegon Shipping India Pvt. Ltd.'s operations at Customs Station INNSA1 (JNCH), and to the operation and effect of the public notice issued pursuant to that order. The stay is subject to the Bombay High Court's order dated 16 October 2026 and applies only for the period and to the extent that the order remains operative. Officers, sections, stakeholders and others are requested to ensure that neither instrument is acted upon as operative while the stay remains in force. The stay does not set aside or cancel the suspension order or the earlier public notice on the merits and does not finally determine the proceedings concerning the company.

Separate business unit compliance for debenture trustees receives a further extension, while existing operational conditions remain unchanged.
Compliance timeline for registered debenture trustees to transfer activities outside the securities regulator's purview to separate business units is extended until April 27, 2027. The extension addresses operational difficulties in establishing implementation systems and processes, alongside an ongoing review of the debenture trusteeship and separate business unit framework. All other terms and conditions governing such activities remain unchanged.

Titanium dioxide anti-dumping duty exclusions require electronic end-use declarations and allow recovery upon diversion from excluded uses.
Anti-dumping duty on titanium dioxide imports from China PR is limited to specified end uses, while goods intended for food, pharmaceutical, skin-care, textile, fibre, nano or ultrafine applications are excluded. Importers claiming exclusion must submit an electronic Bill of Entry declaration and undertake to pay duty and interest if goods are diverted to non-excluded uses. Diversion permits recovery of anti-dumping duty, differential duty and interest from the importer.

Cost audit report filings avoid additional fees through the deadline; later filings attract additional fees from their original due dates.
Companies may file cost audit reports for financial year 2025-26 in Form CRA-4, using XBRL format, up to and including 31 December 2026 without paying additional fees. Filings made after 31 December 2026 attract all applicable fees, including additional fees, under the Companies (Registration Offices and Fees) Rules, 2014. Additional fees apply from the date on which the filing was actually due under Rule 6(6) of the Companies (Cost Records and Audit) Rules, 2014, rather than from the end of the relaxation period.

Export factoring support uses IEC-based claims, fixes data-filing timelines, and permits separate interest subvention without duplicated interest costs.
Support for Alternative Trade Instruments removes declarations of intent and UINs, requiring IEC-based identification for applications, claims and disbursals. Factors upload modality-specific transaction data, while exporters review eligible records and file digitally authenticated monthly consolidated claims within the prescribed period. Eligibility turns on the EGM filing date for underlying exports from 20 February 2026. Eligible MSME exporters may use both factoring support and interest subvention, but cannot claim the same invoice, receivable or interest cost under both interventions; ceilings apply independently and duplicate or excess claims attract recovery, interest and penalties.