Import of gold by qualified jewellers: advance remittances allowed through IFSCA authorised exchanges subject to due diligence and reporting.
Qualified Jewellers may import gold through IFSCA authorised exchanges using exchange approved payment mechanisms; advance remittances must be supported by sale contracts or irrevocable purchase orders, used only for bona fide imports and not leveraged, with unutilised amounts refunded if imports do not materialise. AD banks must perform due diligence, ensure complete customs documentation and matching of Outward Remittance Messages with Bills of Entry, and report transactions through prescribed monitoring and reporting systems. IFSCA will vet exchanges and ensure systems prevent misuse of advance remittances.

Prohibition on wheat exports: manual, physically signed registration certificates required pending digital integration with customs systems.
Wheat export policy has been amended to prohibit exports with immediate effect. Pending integration of digitally signed Registration Certificates with the Customs ICEGATE system, Regional Authorities must issue manually signed and stamped physical Registration Certificates to prevent misuse; those physical RCs shall be presented to Customs to facilitate exports of wheat as specified in the linked trade notices.

Registration processing: physical appearance not required; officers may seek only relevant information or conduct premises verification when justified.
Applications for GST registration must be processed under Section 25 and the applicable rules, using documents listed in FORM GST REG-01; personal appearance and extraneous document requests are not required and should be discouraged. In cases of doubt or suspicion, the proper officer may call for information relevant to the application and, if warranted, conduct physical verification of business premises under Rule 25 of the HGST Rules, 2017. Requests for additional material must be pertinent, and implementation difficulties should be reported to the Department.

Tariff Rate Quota allocation for crude edible oils established, imposing processor only eligibility and specific documentation and validity conditions.
Allocation of Tariff Rate Quotas for imports of crude soyabean oil and crude sunflower seed oil is notified for FY 2022 23 and 2023 24 with annual quantity ceilings and duty exemption as per the Department of Revenue notification. Eligibility is limited to processors/refiners on an Actual User basis with pre-existing IEC, documentary proof of processing capacity dated prior to 24.05.2022, a valid FSSAI licence, turnover details supported by self certified GST returns, and one application per IEC. TRQs are valid for specified one year import clearance periods, imports must be for domestic processing only, pre existing port stocks are excluded, and non compliance or non utilisation may lead to cancellation and reallocation.

Export prohibition on wheat requires L/C message exchange date on or before the prohibition's effective date for registration.
For registration of a letter of credit with Regional Authorities, both the L/C issuance date and the interbank message exchange/Swift date must be on or prior to the prohibition's effective date. Registrations based on an earlier L/C date alone will not be accepted where the message exchange date shows issuance after the prohibition; this clarification addresses submission of fraudulent back dated L/Cs and enforces compliance with the export prohibition on wheat.

Passive fund regulation updates strengthen ETF/index replication, exposure, market making, iNAV and disclosure requirements across products.
The circular prescribes a regulatory framework for passive funds requiring debt index constituents to be investment grade with defined ratings and maturities, issuer aggregated exposure limits and sector/group caps, replication tests and minimum issuer counts for ETF/index portfolios, duration deviation tolerances including for target maturity products, rebalancing and segregation on downgrades, and detailed disclosure, market making, iNAV, tracking error/difference and investor liquidity provisions.

Operational creditor claim filing: centralized CBIC nodal mechanism ensures timely claims and monitoring under the IBC.
The SOP centralizes receipt and dissemination of IBBI public-announcement information through a CBIC Nodal Officer (ADG, DGPM) to ensure timely filing of operational creditor claims under the IBC. It requires official email dissemination, a dedicated WhatsApp group for zone nodal contacts, routine monitoring of the IBBI website, liaison with Resolution Professionals on resolution plans and NCLT orders, confirmation of claim filings by field formations to the Nodal Officer, and monthly reporting in a prescribed proforma for consolidation and review.

Rescission of circulars: duplicate circulars withdrawn as their requirements are subsumed by existing insolvency regulations.
The Board rescinds specified circulars because their operative provisions are already incorporated in the IBBI Regulations governing the Insolvency Resolution Process for Corporate Persons and the Insolvency Professionals Regulations; rescinded topics include confidentiality, authorised representatives for creditor classes, CoC notice and voting procedures, voting conduct, process-specific voting conduct, and retention of records, with the rescission effective immediately as part of regulatory consolidation.

Vulnerability assessment and penetration testing required by MIIs, with empaneled testers and mandatory remediation and reporting.
MIIs must classify and maintain Board approved inventories of critical assets and perform periodic VAPT covering all critical systems, using CERT In empaneled firms; final VAPT reports, after standing committee approval, must be submitted to the regulator and vulnerabilities remediated promptly with closure compliance filed within three months. MIIs must conduct VAPT before commissioning new critical systems, undertake periodic cyber audits, submit MD/CEO compliance declarations with audit reports, amend governance instruments as necessary, and report implementation status to the regulator immediately.

Input tax credit mismatch monitoring requires timely Section 73 action and mandatory entry of follow-up details.
Input tax credit mismatches between FORM GSTR-3B and GSTR-2A were identified in the GST MIS Red Flag Module for 2017-18 and 2018-19. Field officers are directed to complete proceedings under Section 73 within the prescribed limitation period and to mandatorily record the details of action taken in the departmental Entry Module for effective monitoring.

Certificate of Origin authorization expanded to include Vizagpatam Chamber; Nag Vidarbha Chamber contact and address details amended.
Authorization under paragraph 2.04 of the Foreign Trade Policy adds Vizagpatam Chamber of Commerce and Industry to Appendix 2E as an agency authorized to issue Certificate of Origin (Non-Preferential). The Public Notice also amends the recorded contact details and address for Nag Vidarbha Chamber of Commerce in Appendix 2E to update its premises, telephone, mobile, email and website information for issuance of non preferential Certificates of Origin.

Security cover format and trustee monitoring rules revised: quarterly certified coverage, valuation standards, disclosure timelines, and REF verification strengthened.
SEBI revises the security cover certificate format and related processes: issuers must produce quarterly certificates with statutory auditor certification of book values, provide market values or justified carrying values, include separate standalone and consolidated tables where third party/group assets are used, and add a column for debt not backed by assets. Debenture Trustees must quarterly certify market values after due diligence, document reasons for reductions, ensure disclaimers do not impair debenture holder rights, and may appoint a lead trustee for pari passu charges. Standard formulas for exclusive and pari passu cover ratios and UDIN requirements are prescribed.

Rights issue timing change: RE trading must end at least three working days before issue closure to allow settlement.
The circular amends the timing requirement for rights issues: the previous 'at least four days' gap between closure of RE trading and issue closure is replaced with 'at least three working days' to accommodate T+2 settlement and one additional day for investor application; the change applies immediately to all rights issues and fast track rights issues and requires involved entities and stock exchanges to ensure and disseminate compliance.

Taxpayer authorization for official visits required, central communication IDs mandated and blocked input tax credit subject to prioritized review.
Field officers must display identity and carry proper authorization before entering taxpayer premises; tax inspectors are limited to inspections under Rule 25 or participation in search, inspection or audit. Inquiry officers must provide a reasonable opportunity to complainants while discouraging repeated summonses. All communications must carry an online BO web system ID, with specified fallbacks and supervisory exemptions. Blocked input tax credit under Rule 86A must be reviewed by designated officers, unblocked when restrictions no longer apply, and prioritized if blocked for more than one year, consistent with circular guidance and GSTN automation.

Tariff Rate Quota application deadline extended for India UAE CEPA allocations to permit additional submissions under allocation process
Extension of the Tariff Rate Quota (TRQ) application deadline for allocations under the India-UAE CEPA first two quarters. The DGFT, under powers from the Foreign Trade Policy, 2015-20, amends condition (f) of Annexure IV of Appendix 2A and extends the last date for online submission of TRQ applications until 31 May, thereby modifying the submission timeframe for quota allocation without altering eligibility or allocation methodology.

Settlement in INR permitted for specified trade financing with Sri Lanka under FEMA authorisation, outside ACU mechanism.
RBI permits settlement in INR outside the ACU mechanism for trade transactions arising from the Government guaranteed credit facility to Sri Lanka; financing is limited to exports eligible under the Foreign Trade Policy and agreed to be financed under the credit agreement, effective immediately, with AD Category I banks required to notify constituents and obtain full facility details, and the directions issued under FEMA subject to other legal permissions.

Re-crediting of CO Bond requires monthly submission of import and export details to Container Cell for verification and bond reconciliation.
Where ICES v1.5 lacks an automated re-credit function, MLO/Shipping Agents must submit monthly import and matching export details (IGM and landing application numbers/dates, container numbers, shipping bill and EGM numbers/dates, POMS/ITDR) to the Container Cell email by the 5th; the Container Cell will verify submissions in ICES and forward verified applications to the Assistant/Deputy Commissioner for CO Bond reconciliation and issuance of cancellation certificates. The amendment is effective from 17/05/2022.

Export prohibition on wheat: online registration allowed for pre-existing irrevocable commercial letters of credit, manual filings barred.
The export policy for wheat is amended to a prohibition, and DGFT has implemented an online portal to register Irrevocable Commercial Letters of Credit opened on or before the amendment date under Para 1.05(b) of the Foreign Trade Policy; manual submissions are disallowed and Regional Authorities are instructed to process complete applications promptly.

Prohibition on wheat exports: consignments registered with Customs on or before the cutoff remain eligible for export.
Prohibition on export of wheat implemented by amendment designates wheat as prohibited for export effective immediately; DGFT regional authorities, Customs and trade must enforce the ban. Exception: consignments handed to Customs for examination and registered in Customs systems on or prior to 13.5.2022 are allowed to be exported under Para 9.12(B) of the Handbook of Procedure, 2015 2020.

Dynamic QR Code compliance on B2C invoices is aligned with central GST guidance for uniform State GST implementation.
Dynamic Quick Response (QR) Code compliance for business-to-consumer invoices is to be administered uniformly under the Chhattisgarh Goods and Services Tax framework in relation to Notification 14/2020-Central Tax. The corresponding central GST guidance on dynamic QR code applicability and compliance is applied, with necessary modifications, for implementation under the State GST law.