Transmission to legal heirs reason code TLH mandated for reporting to tax authorities to prevent nominee tax assessment.
SEBI requires reporting entities to use the "TLH" (Transmission to Legal Heirs) reason code when reporting nominee-to-legal-heir securities transmissions to tax authorities to enable correct application of Income Tax Act provisions and avoid provisional capital gains assessment; existing procedural rules for transmission under listing regulations and RTA master circular continue to apply and entities must update systems accordingly.

Social Stock Exchange requires NPO registration criteria, annual disclosures, and assessed Annual Impact Reports covering 67% of program expenditure.
SEBI amended the SSE framework: NPOs eligible for SSE registration must be specified Indian legal forms with at least 12 months' valid registration; exchanges must update systems. NPOs must make two annual disclosures-within 60 days post financial year (general and governance information) and by October 31st or tax return due date (outreach, top donors, programs, related party transactions, compliance statement, financials and auditors). Social enterprises that raised funds on SSE must submit an Annual Impact Report covering 67% of prior year program expenditure; the AIR must be assessed by Social Impact Assessors and disclosed.

Waiver of interest for delayed demand payments due to incorrect rebate, if paid by the specified deadline.
The Board directs waiver of interest under section 220(2) for demands arising from rectification that disallows rebates incorrectly allowed on incomes chargeable at special rates, provided the taxpayer pays the demand by the specified deadline; if not paid by that deadline, interest under section 220(2) will be charged from the day after the period specified in sub-section (1) of section 220.

Monitoring of insolvency proceedings mandated to ensure timely departmental claim filing and escalation to appellate remedies.
A dedicated NCLT Monitoring Team is to be constituted to identify taxpayers in insolvency proceedings, ensure timely filing of departmental claims, process appeals against adverse treatment, conduct post-mortem analyses of lost claims, proactively monitor insolvency notices, maintain a comprehensive database of related cases, and furnish quarterly reports; the team will operate under the Deputy/Assistant Commissioner (Legal Cell) and the Standing Order is effective immediately.

Inter state recovery coordination: zonal additional commissioners must liaise with district magistrates to execute recovery certificates.
The Zonal Additional Commissioner shall hold recovery certificates issued to other provinces at their level and, from that level, coordinate with the District Magistrate of the district in the issuing province to initiate and execute recovery proceedings; other provisions of the earlier circular remain unchanged and strict compliance is required.

Documentation requirements for import assessments streamlined to reduce delays and repeated queries under NAC-Chemicals.
Streamlining of documentation requirements under NAC-Chemicals is directed for import assessments to reduce delays caused by incomplete information and repeated queries at the time of filing Bills of Entry. A detailed annexure lists products in Chapters 28 to 49 and the supporting documents generally expected for assessment, including identifiers, material safety data sheets, test reports, end-use declarations, licences, no-objection certificates, landing permissions, and other product-specific compliance documents. The list is non-exhaustive, and the Assessing Officer may seek further documents or clarifications.

Trade facilitation: institutionalised fortnightly committee meetings and expanded representation to boost stakeholder engagement and coordination.
The public notice implements a Central Board directive to institutionalise consultation by requiring the Permanent Trade Facilitation Committee to meet fortnightly and by broadening its composition to include DGFT representatives, logistics service providers, trade councils and existing trade participants to enhance stakeholder engagement, grievance redressal and alignment with national trade facilitation objectives.

Composite GST show-cause notices may cover multiple financial years where each year's limitation and tax breakup remain independently protected.
Composite show-cause notices under sections 73 and 74 may cover multiple financial years where demands arise from a common factual matrix. Consolidation is procedural only: each financial year retains its independently calculated statutory limitation, and a later year's timeline cannot extend an earlier year's deadline. The use of any period and such periods supports statements for additional periods on the same grounds. Clear year-wise tax breakups allow liabilities to be disaggregated for limitation, adjudication, statutory benefits, and defence, preserving natural justice.

Due date extension for income tax returns: filing deadline for specified non auditable assessees moved to 16 September.
The Central Board of Direct Taxes, invoking its power to extend due dates, shifts the ITR filing deadline for Assessment Year 2025-26 for non auditable assessees referred to in clause (c) of Explanation 2 to sub section (1) of the return filing provision, moving the due date from 15 September 2025 to 16 September 2025.

AD Code registration becomes centrally available across Customs locations after one online approval, while amendments remain port-specific.
The revised ICEGATE process requires one-time online registration of an AD Code and associated bank account at any Customs port. Once approved, the registration is available across Customs locations, while amendments must be made at the port of original registration. The Bank Account and AD Code Registration Dashboard enables IEC holders to view registered, pending and rejected requests, including pendency locations and rejection reasons. Existing AD Codes are assigned to the port of their last Shipping Bill filing, and prescribed documents must be uploaded through e-SANCHIT.

Designation of RTI officers in Bengaluru Customs Zone: CAPIO, CPIO and First Appellate Authority appointed for RTI matters.
Designation under Section 5(1) and 5(2) of the Right to Information Act, 2005: specific officers are nominated as CAPIO, CPIO and First Appellate Authority for the Office of the Chief Commissioner of Customs, Bengaluru, with contact details and jurisdiction covering the Bengaluru Customs Zone (including O/o Commissioner of Customs (Appeals), Bengaluru); this supersedes Public Notice No. 01/2025 and is issued with the Chief Commissioner's approval.

Exemption from Quality Control Order: aerospace grade hydrogen peroxide imports for non commercial R&D exempted from mandatory BIS QCO compliance.
Exemption from the Quality Control Order on imports of aerospace grade hydrogen peroxide is authorized for non commercial R&D use after BIS confirmed no specification exists for that grade; Customs formations are directed to sensitize officers and issue necessary instructions to implement the exemption, with difficulties to be reported to the Board.

Post-sale discounts: inclusion in taxable consideration depends on whether discount induces dealer's supply to the end customer.
Where suppliers issue financial or commercial credit notes without reducing the original transaction value, recipients need not reverse Input Tax Credit; post-sale discounts that merely lower a dealer's sale price in independent principal-to-principal transactions are not consideration for inducement, whereas discounts linked to an agreement to supply to end customers at a reduced price must be included in overall consideration as inducement. GST applies when dealers render distinct promotional or other services under a contract specifying such services and consideration.

Provisional assessment time limits set with mandatory deadlines for document submission, speaking orders, and security adjustment.
The Customs (Provisional Assessment) Regulations, 2025 impose a structured timetable and procedures for finalising provisional assessments under Section 18: a statutory outer limit with authority for extension on sufficient cause; a fourteen month requirement to obtain missing documents or complete enquiries and a target three month window to conclude assessment after receipt; option for importers/exporters to pre pay duty with interest; speaking orders and natural justice safeguards on finalisation; cancellation or re credit of bonds upon no dues; recovery from security for amounts that attain finality; and application to pending and project import cases.

Trade facilitation tightened: expanded PTFC/CCFC membership, mandatory digital grievance monitoring and tri layer redressal under Faceless Assessment.
The Master Circular mandates strengthened, institutionalised consultation by expanding PTFC and CCFC membership, increasing PTFC meetings to fortnightly and CCFC meetings to bi monthly, and revising ToR to require active monitoring and time bound resolution of grievances using digital tools (AEM, TSKs, ICEGATE helpdesk) with escalation to NACs. AEM, TSKs and NACs form a tri layer grievance architecture under Faceless Assessment; DG Systems will revamp AEM with MIS, NACs will maintain dedicated cells and fortnightly sectoral consultations, and zones must acknowledge and resolve grievances including those from social media.

Electronic customs processing at Vizhinjam Seaport enables ICES-based import and export clearances, custodianship, duty collection, and refund payments.
ICES 1.5 commenced computerized customs-document processing at Vizhinjam International Seaport from 2 September 2025. The seaport is approved for import unloading and export loading within its specified customs area. Adani Vizhinjam Port Private Limited is custodian of imported goods pending clearance, warehousing, or transhipment, and of export cargo pending exportation. The EDI framework also authorises customs-duty collection and duty drawback or refund payments through the designated bank branch. Clearance-related redressal and ICEGATE support channels are available to importers, exporters, and customs brokers.

Easing compliance for FPIs investing only in Government Securities streamlines registration, KYC and transition rules.
Ease of regulatory compliances for Foreign Portfolio Investors that invest exclusively in Government Securities (GS-FPIs) exempts such FPIs from furnishing investor group details and certain contributor-related provisions, while requiring resident Indian individual contributions to be routed through the LRS and held in global funds with limited Indian exposure. GS-FPIs need only pay renewal fees to DDPs and are exempted from change-notification and no-change declaration requirements, subject to specified reporting of material changes within thirty days and harmonised KYC periodicity with bank accounts.

Accredited investor requirement restricts angel funds to accredited investors, with phased compliance and limits on follow-on investments.
Angel Funds must raise capital only from Accredited Investors, with managers verifying accreditation on contribution and existing funds transitioning within a phased timeline; an Angel Fund must onboard a minimum number of accredited investors before first close or refile its PPM. Investments are made directly at fund level without scheme filings, term-sheet filing is discontinued though term-sheet records must be maintained. Follow-on investments are permitted subject to post-issue shareholding limits, an overall per-investee cap, pro rata participation by prior investors, and lock-in periods, with overseas investments subject to RBI and SEBI conditions.

Disclosure Document format updated: portfolio managers must segregate static/dynamic pages, certify changed pages and file updates promptly.
The circular prescribes a simplified template for the Disclosure Document for Portfolio Managers, replacing Schedule V, and requires a two-part document with a Static Section (enduring disclosures including definitions, services, risk factors, taxation, accounting and valuation policies) and a Dynamic Section (client representation, financial and performance data, audit observations, related-party investments). Each parameter must start on a fresh page; only pages with changes require certification by an independent chartered accountant and the principal officer and must be highlighted to clients, updated on the manager's website and filed with the Board within seven working days of change.

Co-investment framework permits AIFs to launch ring-fenced CIV schemes for accredited investors under operational safeguards.
SEBI permits Category I and Category II AIFs to offer separate co-investment schemes (CIV schemes) for accredited investors; managers must file a shelf placement memorandum, ring-fence each CIV scheme with separate bank and demat accounts, and ensure no borrowing or leverage. Co-investor exposure across CIV schemes to a given investee company is capped relative to the investor's contribution through the affiliated AIF scheme, with specified government and development institution exceptions, and defaulting or excluded AIF investors are barred from co-investing in that investee. Expenses are shared pro rata and investor rights are pro rata except for carried interest arrangements; compliance with implementation standards and inclusion in the Compliance Test Report is mandatory.