Daily Price Limits modification permits staged relaxations with cooling-off and notice when international markets exceed domestic ranges.
Exchanges may relax Daily Price Limits when international prices move beyond the aggregate DPL range versus domestic close: relaxations may be implemented in successive stages (3% increments) with a 15-minute cooling-off period, accompanied by market notice and justification. In exceptional circumstances of extreme international movement, exchanges may directly relax DPL to the required level with notice. All such instances must be reported to the regulator in the monthly development report; breach of a slab is not required. The amendment is effective immediately and prior circular terms otherwise remain.

Correction of deadline in Section 119 order: operative date amended to 30th September 2022 effective immediately.
Corrigendum to an order under Section 119 of the Income Tax Act corrects the date in paragraph 3 of the Board's order of 26 September 2022, substituting "30th September, 2022" for the earlier published "30th September, 2023"; dated 27 September 2022 and signed by the Under Secretary, TPL-IV.

GST classification of electrically operated vehicles clarified: vehicles without fitted batteries qualify for concessional rate under entry.
Electrically operated vehicles are classifiable under HSN 8703 and attract the concessional entry rate even if batteries are not fitted; minor polished Napa stones qualify as non mirror polished calcareous building stone for concessional treatment; fresh mangoes are exempt, sliced dried mangoes concessional, and other processed mango forms including pulp attract the standard processed rate; treated sewage water is exempt as water; nicotine polacrilex gum for cessation is classifiable under nicotine oral products with applicable rate; 90% fly ash condition applies only to aggregates; pulse milling by products used as cattle feed are classifiable under heading 2302 and attract the concessional rate with past periods regularised as is.

Consideration for supply determines GST: compensatory payments are non taxable unless they constitute consideration for a contractual supply.
GST liability depends on whether a payment is consideration for a supply under the declared service of agreeing to refrain from, tolerate, or do an act. That service requires an express or implied agreement and reciprocal consideration; absent such contractual arrangement, compensatory payments arising from breach, statutory cancellations, penalties, cheque dishonour fines or forfeitures are mere flows of money and not taxable. Conversely, contractual charges that constitute ancillary or independently bargained facilities (late payment acceptance, cancellation fees, prepayment penalties) are consideration for supply and taxable alongside the principal supply unless the principal supply is exempt.

GST applicability on services clarified: classification, exemptions and reverse charge obligations updated across multiple service categories.
Clarifies GST treatment across services: ice cream parlours' supplies are taxable at 18% with ITC from October 6, 2021 and prior 5% payments without ITC are regularised; educational institution fees for entrance, eligibility and migration certificates are exempt; storage of ginned/baled cotton was exempt prior to July 18, 2022; transit cargo services to/from Nepal and Bhutan are exempt subject to customs procedures; renting vehicles with operator is rental under Heading 9966 (reverse charge applies to body corporates) while passenger transport services under Heading 9964 differ; IVF services are health care and exempt; sale of developed land remains non taxable.

Modified return filing under section 170A extended to allow successor companies more time to file ITR-A.
For successor companies with competent-authority business reorganisation orders issued between 1 April 2022 and 30 September 2022, the Board extends the time for furnishing modified returns in Form ITR-A under the statutory scheme to 31 March 2023, recognising that the notification of Form ITR-A reduced the available filing window and that modified returns are to be filed within six months of the month of the reorganisation order; the administrative order takes immediate effect.

Multiple Investment Managers registrations permitted for FPIs; separate DDP appointments allowed, but investments will be clubbed for limit monitoring.
A foreign portfolio investor using a Multiple Investment Managers structure may obtain separate FPI registrations naming each investment manager and may appoint different Designated Depository Participants for each registration; however, investments under those multiple registrations will be aggregated for monitoring investment limits.

Scrip validity extension increases usability of duty-credit scrips and removes transferee-holder conditions under the RoSCTL scheme.
Amendments to the RoSCTL scheme delete certain conditions applicable to the transferee-holder of scrips by removing para 4(2), para 5(5) and the words "or the transferee" in para 6; amendments to the Electronic Duty Credit Ledger Regulations substitute a longer period in Regulations 6(2) and 7(3), thereby extending the validity period of scrips. Authorities are requested to issue public notices and standing orders to notify stakeholders.

RoDTEP amendments remove transferee-specific conditions and extend scrip validity, requiring public notice and standing orders.
Amendments to the RoDTEP principal notification remove transferee-related conditions by deleting paragraph 4(2), paragraph 5(5) and the words "or the transferee" in paragraph 6; separate amendments to the Electronic Duty Credit Ledger Regulations replace "one year" with "two years" in Regulations 6(2) and 7(3), thereby extending the validity period of scrips, and authorities are requested to issue public notices and standing orders.

Commercial tax assessments must follow natural justice: clear notice, fair hearing, document disclosure and reasoned orders.
Assessing and adjudicating officers must adhere to Natural Justice by serving clear notices stating alleged lapses and legal basis, granting a minimum of 15 days to reply, recording reasons for adjournments, furnishing documents relied upon, providing personal hearings and, where appropriate, cross examination, and issuing speaking orders that address objections and evidence with cogent reasons; notices under extended revision must specify grounds like fraud or willful suppression.

Extension of FCRA registration validity: pending renewals remain valid until renewal disposal, refusal causes deemed expiry and restrictions.
Entities with pending renewal applications whose validity had been previously extended shall have their FCRA registration certificates extended until the earlier of the end of March 2023 or disposal of the renewal application; similarly, entities whose five year validity expires in the October-March window and that apply for renewal before expiry will receive the same extension, while a refusal of renewal causes the certificate to be deemed expired on the date of refusal and bars receipt or utilisation of foreign contribution.

Commercial paper issuance by listed InvITs allowed subject to banking issuance norms, securities listing requirements and debt-limit compliance.
Listed InvITs with the requisite net worth may issue and list commercial paper provided they comply with banking issuance norms and directions governing commercial paper, adhere to securities listing requirements for non-convertible instruments and related circulars, and ensure such issuances remain within the overall debt limit prescribed for InvITs.

Listed commercial papers by REITs permitted subject to commercial paper guidelines, listing conditions and overall debt limits.
REITs meeting the prescribed net worth threshold may issue listed commercial papers provided they comply with the Commercial Paper Guidelines of the central banking authority, the listing conditions under the non-convertible securities listing regulations, and remain within the overall debt limit prescribed by the REIT regulatory framework.

GST system reforms group of ministers reconstituted with revised membership and unchanged terms of reference.
Partial modification of the earlier office memorandum on GST system reforms reconstitutes the Group of Ministers by specifying its revised membership and designating Shri Devendra Fadnavis as Convenor. The memorandum lists the members from several States and confirms that the other terms of reference remain unchanged.

Classification of mobile cranes: guidance hinges on movement under load and mechanical integration determining tariff characterisation.
Guidance distinguishes mobile lifting-and-handling machines for tariff classification by reference to movement under load, location of propelling and control elements, engine arrangement, and the degree of mechanical and functional integration between chassis and working machine. Machines that do not move under load or move only subsidiarily, and that locate propelling/control elements in the working-machine cab, are characterised as cranes; machines that move under load or merely have the working machine mounted on a general-purpose vehicle chassis are characterised as motor vehicles. Outriggers and integrated substructure supporting lifting function are indicative of crane classification.

Transitional credit filing window allows one-time filing or revision of TRAN-1/TRAN-2 with post-verification ledger credit.
A one-time portal window permits eligible registered persons to file or revise FORM GST TRAN-1/TRAN-2 for transitional credit, with edits allowed only until the portal "Submit" action freezes the form, after which filing requires DSC or EVC. Applicants must upload the Annexure A declaration and TRANS-3 where applicable, submit a self-certified copy to the jurisdictional tax officer within seven days, retain supporting records for verification, and understand that claims will be verified and adjudicated by officers, with allowed credit reflected in the Electronic Credit Ledger.

Firewall between credit rating agencies and affiliates strengthens separation, disclosure, and prohibition on shared rating scales.
CRAs must adopt and board-ratify a documented separation policy addressing shared infrastructure or personnel, measures to preserve independence of the credit rating process, and employee guidance to mitigate conflicts; disclose any common director or chief executive on the CRA website with monthly updates and archives; prohibit non-rating entities from using prescribed credit rating scales; maintain separate websites for CRA and non-rating entities; report compliance within one quarter of applicability and submit to half-yearly internal audit monitoring.

Geo-tagging of departmental assets through the UPCOG Geo Portal is directed for departmental use and monitoring.
Instructions are issued for geo-tagging departmental assets and use of the UPCOG Geo Portal in the Entertainment Tax and Commercial Tax Department, Uttar Pradesh. The circular requires subordinate officers to use the departmental Geo Portal for geo-tagging of public-use assets and for departmental activities. It also states that the login for the Entertainment Tax and Commercial Tax tabs is available with the Nodal Officer, Joint Commissioner (IT), State Tax Headquarters, who may be contacted for necessary action.

Transitional Credit filing window: one-time filing or revision of TRAN-1/TRAN-2 with prescribed verification and documentation.
Portal facility open October 1 to November 30, 2022 for aggrieved registered assessees to file or revise Form GST TRAN-1/TRAN-2 once; filings require electronic verification and upload of a prescribed declaration (Annexure A) and TRANS-3 where applicable; TRAN-2 claims must be consolidated, certain C-/F-/H/I-Form claims after the statutory cut-off are disallowed, assessees must submit a self-certified copy to the jurisdictional officer within seven days, retain supporting records, and accept that forms are editable only until ''submit'' after which they freeze; jurisdictional officers will verify claims, grant hearing, pass orders and reflect allowed credit in the electronic ledger.

Validation of Pay-In instructions: depositories must match client transfer details to clearing obligations before crediting TM Pool accounts.
Depositories must validate Pay-In transfer instructions from client demat accounts to Trading Member Pool accounts by matching instruction details (UCC, TM ID, CM ID, Exchange ID, ISIN, quantity, settlement details) against client-wise net delivery obligations provided by Clearing Corporations; matched instructions shall be executed and unmatched instructions rejected, with partial processing where instructed quantity exceeds obligation and the existing block mechanism maintained for Early Pay-In transactions.