Mutual fund cash-market settlement permits scheme-level fund netting for outright trades while retaining gross securities settlement and delivery.
SEBI permits mutual fund schemes to net funds for outright cash-market transactions at the individual scheme level from April 1, 2027. An outright transaction is a purchase or a sale, but not both, in the same security during the same settlement cycle. Purchases and sales of the same security within that cycle are non-outright and excluded from fund netting. Netting is confined to the same scheme and settlement cycle; obligations cannot be adjusted across schemes or portfolios.

Accredited investor status determined by managers is recognised within groups, while onboarding accreditation lasts for the scheme's life.
Manager determinations are valid for three years and recognised by managers in the same group; investment advisers and research analysts may rely on them but cannot determine status independently. A manager outside the group must determine status afresh on onboarding. The manager records and confirms the status, accreditation date and validity in writing. The agency route remains available, and a valid agency certificate must be accepted without fresh determination. Agency certificates also last three years from accreditation; existing certificates retain their unexpired validity. An investor accredited at onboarding retains that status for the scheme's remaining life.

Currency derivatives exposure limits restrict positions without underlying exposure and impose distinct conditions on foreign investors and domestic clients.
Currency derivative positions involving the Indian rupee may be taken by domestic clients and foreign portfolio investors without establishing underlying exposure up to a single outstanding notional limit of USD 5 million equivalent, combined across all rupee currency pairs and recognised stock exchanges. Foreign portfolio investors must also keep their short positions across all foreign currency-rupee contracts and exchanges within USD 5 million. Their long positions above that threshold require underlying exposure to Indian debt or equity securities, including units of equity or debt mutual funds. Domestic clients taking positions above the threshold are subject to applicable Reserve Bank of India risk-management requirements.

Remote KYC for overseas individual clients permits digital onboarding from compliant jurisdictions subject to verification and security safeguards.
Digital onboarding and re-KYC are permitted for individual persons resident outside India, including non-resident Indians, Overseas Citizens of India and foreign nationals, when they are located in a Financial Action Task Force (FATF)-compliant country. Intermediaries may rely on another SEBI-registered intermediary's KYC through KRA records or another financial-sector-regulated entity's KYC through CKYCRR records, but retain ultimate KYC responsibility. In-person verification is required, with video verification used where physical verification is not feasible. Intermediaries must comply with the applicable cybersecurity framework and provide completed KYC information to the KRA within three working days.

Trade complaint tracking requires periodic portal updates accessible to complainants until the dispute is resolved or finally disposed of.
Indian Missions Abroad and the concerned Foreign Trade Divisions must periodically update the action taken and the status of each complaint on the DGFT portal. Updates must continue in a timely manner until the complaint or dispute is resolved, closed or otherwise finally disposed of in accordance with the prescribed procedure. Complainants must be able to access all such updates through the portal.

ATA Carnet procedures simplify temporary imports and re-exports through centralized processing, physical verification, manifest reconciliation and compliance monitoring.
Temporary admission under ATA Carnet permits duty-free import of goods for display, demonstration or use at fairs, exhibitions and similar events, subject to applicable customs notifications, the ATA Convention and prescribed procedures. No separate Bill of Entry is required; cargo particulars are entered to facilitate closure of the Sea Arrival Manifest. No separate Shipping Bill is required for re-export under ATA Carnet; cargo details and system-generated references support closure of the Sea Departure Manifest. Where goods are not re-exported within the stipulated period, including any permitted extension, the cell takes steps to recover duty and applicable interest.

Depository receipts on REIT units require eligible issuers, specified international exchange listing, unitholder safeguards and applicable holding limits.
Depository receipts may be issued against units of a registered real estate investment trust as foreign-currency instruments listed on specified international exchanges. The underlying units must be deposited with a registered domestic custodian. Fresh issues require approval by at least 75% of votes cast, subject to exceptions for simultaneous initial domestic offerings and subsequent offerings within a previously approved limit. Units held for DR issuance count as non-public holdings when calculating minimum public unitholding. Applicable holding limits require aggregation of domestic and DR-backed units, including holdings of persons acting in concert where relevant.

Depository receipts on infrastructure trust units require nonresident holders and beneficial owners, specified exchange listing, pricing and disclosure compliance.
For a fresh issue, the investment manager must file the initial offer document through a merchant banker with the regulator and recognised stock exchanges. The regulator endeavours to send comments within seven working days, and the exchanges must decide on in-principle approval within 15 working days of receiving the application and required documents. The final offer document must also be filed. Fresh issues generally require prior approval by at least 75% of votes cast, subject to exceptions for simultaneous initial offerings and subsequent offerings within an already approved overall limit.

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.

Designated customs officer changes from Import Noting to EDI for implementation of shipping message amendment advisories.
The designated customs officer in paragraph F(i) of Public Notice No. 53/2026 (Port), dated 8 October 2026, is changed from the Assistant Commissioner of Customs, Import Noting, Customs (Port), Kolkata, to the Assistant/Deputy Commissioner of Customs, EDI, Customs (Port), Kolkata. The designation concerns implementation of ICES Advisory Nos. 37/2026 and 38/2026 on amendments to CSN (SCA), SAM (SAA) and related SCMTR messages. All other contents of the public notice remain unchanged.

SCOMET export facilitation accepts eligible status certificates and extends repair-export authorisation validity with quarterly reporting obligations.
SCOMET authorisation-based facilitation under Chapter 10 of the Handbook of Procedures, 2023 extends with immediate effect to eligible holders of valid 4-Star or 5-Star Status Holder Certificates, subject to other prescribed conditions. For re-export to vendors or OEMs under the General Authorisation for Export after Repair in India (GAER), either certificate meets the certification requirement, but ICP compliance remains mandatory. GAER validity for export of imported SCOMET items after repair is extended from one year to three years from the date of issue. Post-shipment reports must be submitted within 30 days from the end of each quarter, subject to other applicable conditions.

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.

International transshipment of sealed containers requires authorised movement, secure custody and timely onward shipment during maritime disruptions.
International transshipment of full-container-load (FCL) containers between the port terminal and designated container freight stations (CFSs) at Kandla is limited to cargo affected by maritime disruptions. For movement to a CFS, shipping lines must file the Import General Manifest using the Transshipment Cargo code, notify the terminal, submit a consolidated container list to Docks Preventive and obtain movement permission for communication to the terminal and CFS. The CFS arranges transport under a Custodian-Cum-Carrier Bond. Containers must be received with original seals intact and stored exclusively in the Customs-approved, physically demarcated area. Opening, examination, stuffing changes, re-containerisation and other reworking are prohibited under this procedure.

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.