Online filing of regulatory returns promoted; selected paper and email returns to be converted to electronic submission.
Interim implementation of RRA 2.0 recommends discontinuation, merger or conversion to online filing of specified external sector returns, including those related to foreign investment flows, MTSS reporting, merchanting trade transactions, NRO remittances, agent listings, foreign currency account and write off statements, payment gateway arrangements, diamond import remittances, ESOP repurchases, foreign currency transactions, branch/office lists, long term advance reporting and external commercial borrowing applications; exact effective dates will be notified later and authorised persons/AD banks are to prepare for electronic submission.

HUF demat account Karta succession: new Karta to be senior-most member; depositories to update systems.
In the event of the death of the Karta, the name of the deceased Karta in the Beneficial Owner (BO) account shall be replaced by the new Karta appointed by the member of the HUF who in such a case shall be senior most member of the family. Depositories are required to amend relevant bye-laws, carry out system changes, disseminate the circular on their websites and report implementation status in their Monthly Development Report; other Master Circular provisions remain unchanged.

Line of Credit for export finance imposes Indian supply-content requirements and Export Declaration Form compliance.
Government-supported Line of Credit by Export-Import Bank finances eligible exports for a Maldives sports infrastructure project subject to Foreign Trade Policy eligibility, declaration in the Export Declaration Form, and a supply-content requirement of at least seventy-five percent from India with up to twenty-five percent procurable outside India. No agency commission is payable under the LoC; exporters may use own funds or Exchange Earners' Foreign Currency balances to pay commission in free foreign exchange after realisation and subject to extant instructions.

Government-supported line of credit for defence export financing conditions supply origin and export compliance under foreign trade rules.
A Government of India supported Line of Credit through Exim Bank finances exports for defence projects where exports must be eligible under the Foreign Trade Policy, shipments declared in the Export Declaration Form, and at least seventy-five per cent of contract value supplied from India with up to twenty-five per cent procurable externally; no agency commission is payable though exporters may use own or EEFC funds for commission subject to AD Category I bank compliance and realization requirements, and directions are issued under FEMA.

Replenishment authorisation migration to a new online IT module enables electronic filing while retaining security-paper issuance.
Issuance of Replenishment Authorisation for gems and consumables will move to a new DGFT online IT module effective 21.02.2022 for electronic, paperless filing, while authorisations will continue to be issued on security paper; applications submitted before the cutover will be processed through the legacy system and designated help resources are provided for assistance.

Online compliance portal centralizes mandatory export intimations and returns, requiring stakeholders to file electronically for trade facilitation.
The Chennai Customs Zone EPD has launched an online portal as a one-stop channel for mandatory export-related filings, requiring registered EOUs, STPI, EHTP and DTA units to submit intimation of import and goods receipt, monthly and quarterly returns, QPR/APR copies, and B17 bond debit/credit entries through the portal; users register by email and mobile and procedural instructions are provided, with operational issues to be notified to the Additional Commissioner (EPD Section).

Refund processing controls require district-level oversight before finalising significant refund claims to ensure propriety and legality.
Instructions require differentiated internal controls for GST refund processing: ward level ETO cum Proper Officer and Tax Inspector to process applications with higher value cases forwarded with recommendations to the district Deputy Commissioner for examination of propriety and legality before final order; lower value cases finalized at ward level but subject to quarterly district spot scrutiny. Tax Inspectors must verify application completeness, recommend acknowledgments or notices, assist in processing and physical verification, and check for arrears, return defaults or other proceedings. "Any other" ground refunds require Deputy Commissioner approval.

Electronic Gold Receipts operational guidelines require vault registration, security, reconciliation and insurer backed indemnity measures.
Standard operating guidelines prescribe registration, maintenance of a Financial Security Deposit with a depository, designation of a Compliance Officer, segregated storage and real time tracking of gold, minimum security and insurance requirements for recognized vaults, fortnightly physical verification and inspections by Depositories, and procedures for deposit, creation, reconciliation, withdrawal and extinguishment of Electronic Gold Receipts via a common interface; Depositories must coordinate reconciliation, suspend activity on unresolved discrepancies and report to SEBI.

Electronic Gold Receipts trading rules set structured pre-open, block/bulk frameworks and mandatory client verification for orderly markets.
The circular operationalizes EGR as tradable securities by prescribing exchange obligations, defined trading hours and holidays, a 15 minute pre-open call auction with reference-price rules and +/-5% pre-open limits, frameworks for block and bulk deals with VWAP/reference-price and disclosure/mandatory-delivery requirements, price-band mechanisms with dynamic relaxations, use of Investor Protection and Service Funds for EGR matters, and mandatory Unique Client Code and PAN verification for clients, with exchanges required to amend rules and implement risk-management and disclosure systems accordingly.

No additional fees for delayed annual filings: normal fees apply for specified e forms during the announced extension.
No additional fees shall be levied for filing specified annual returns and financial statement e forms for the financial year ended on 31.03.2021 during the announced extended windows; only normal filing fees will be payable for AOC 4 series forms until 15 March 2022 and for MGT 7/MGT 7A until 31 March 2022, enabling submission of the listed e forms without payment of additional fees in the respective periods.

Appointment of Joint Commissioner (Border Check Post) added to Maharashtra GST administrative order, formalizing post inclusion.
The Commissioner amends the prior Maharashtra GST administrative Order by inserting, in paragraph 1A after serial (h), a new entry: "(i) Joint Commissioner of State Tax (Border Check Post), Maharashtra State, Mumbai," exercising powers under the Maharashtra Goods and Services Tax Act to modify the list of designated posts and recording the amendment in the Commissioner's order dated 11 February 2022.

Delegation of power to arrest expanded to include Joint Commissioner of State Tax (Border Check Post), Mumbai.
The Commissioner of State Tax amended the prior delegation order by inserting in paragraph 1A a new entry: Joint Commissioner of State Tax (Border Check Post), Maharashtra State, Mumbai, thereby including that office among officials covered by the existing delegation instrument under the Maharashtra GST framework.

Import quota restriction on pet coke imports requires applicants to submit pollution board clearances and follow DGFT allocation procedures.
Procedure notifies restricted annual import quotas for Calcined Pet Coke and Raw Pet Coke for 2022-2023 and prescribes application and compliance steps: eligible users must file online applications with SPCB/PCC capacity and consent certificates and comply with MoEF&CC guidelines; applications are considered by the Exim Facilitation Committee and DGFT(HQ) issues import authorizations valid until licence expiry. Importers must report consignments, surrender or notify unutilised quantities by specified deadlines to allow redistribution; failure to surrender or utilise allocation will reduce future entitlement and may disqualify applicants.

Credit Default Swap limits restrict foreign portfolio investors from selling protection once aggregate cap is reached.
FPIs may buy and sell CDS as non-retail users under Credit Derivatives Directions, but selling protection is subject to an aggregate limit equal to 5% of outstanding corporate bonds monitored by CCIL; FPIs must stop selling once the limit is used and the limit is released on exit. Debt instruments received or purchased in physical settlement count toward corporate bond investment limits and, if limits are unavailable at settlement, will be adjusted in subsequent reviews. Notional amounts and deliverable debt instruments are exempt from minimum residual maturity, short-term, concentration, and single/group investor-wise limits. Directions effective May 09, 2022.

Voluntary Retention Route enables FPIs to access Indian debt with voluntary multi year retention commitments and relaxed limits.
The Reserve Bank expanded the Voluntary Retention Route (VRR) for SEBI registered FPIs, making VRR allocations additional to General Investment Limits across VRR Govt, VRR Corp and VRR Combined. FPIs commit a Committed Portfolio Size (CPS) and a minimum Retention Period (minimum three years), must maintain at least 75% of CPS on an end of day basis, may reinvest income beyond CPS, and may transfer General Investment Limit holdings into VRR. Allocations occur on tap or by auction (bids of amount and retention period), with descending retention period priority and margin allocation rules. Custodians must enforce compliance and report violations to SEBI.

E-commerce operator liability for restaurant service GST requires the operator to pay tax in cash and issue invoices.
E-commerce operators must pay GST on restaurant service supplied through their platforms under section 9(5), effective from January 2022, and need not collect TCS or file GSTR-8 for those services. ECOs need no separate registration, are liable even for services by unregistered suppliers, and must include such supplies in the supplier's aggregate turnover. These supplies are not inward supplies to ECOs. ECOs retain ITC for their activities but must pay GST on restaurant services in cash and cannot utilise ITC for that payment; ECOs will issue invoices and report in GSTR-3B/GSTR-1 as directed.

Audit Committee requirement: AMCs must establish independent audit committees to oversee financial reporting, audits and controls.
AMCs must constitute an Audit Committee to oversee Mutual Fund financial reporting, audit processes, internal controls and compliance. The Committee shall review financial reporting and audit outputs, ensure rectification of auditor observations, recommend appointment or removal of auditors, review internal audit scope and reports (including outsourced critical activities), assess implementation of audit action points, and forward internal audit observations to Trustees. Membership requires minimum three directors with at least two thirds independent directors and a finance experienced independent Chair. The Committee must meet regularly and interact with auditors without management present.

Conversion of Private Unlisted InvITs via private placement requires compliance, sponsor contribution and lock-in obligations.
Conversion of a Private Unlisted InvIT to a Private Listed InvIT is effected by a private placement and/or offer for sale under Chapter IV, after which the InvIT is treated as a Private Listed InvIT and must comply with listed-InvIT obligations. Issuance requires asset eligibility under Regulation 18(4), compliance with disclosure and distribution obligations since issuance (or preceding three years), no defaults on distributions, and approval of unit holders by the required value threshold. OFS units must meet holding-period and encumbrance-free conditions, and the InvIT must adhere to SEBI private placement procedures, sponsor contribution and lock-in rules, investor subscription limits, and enhanced placement memorandum disclosures.

Conversion of Private Listed InvIT to Public InvIT requires public issue compliance and prescribed sponsor contribution and lock in rules.
Framework permits conversion of a Private Listed InvIT into a Public InvIT by making a public issue (fresh issue and/or offer for sale); upon issuance and listing the InvIT is treated as a Public InvIT and must comply with Public InvIT regulations. Conditions include asset composition eligibility, compliance with listing and disclosure obligations since listing or for the preceding three years, no defaults on distributions since listing, specified regulatory compliances, and approval by unit holders by value. Sponsor contribution, lock-in periods, transfer restrictions, investor subscription limits, and enhanced draft-offer disclosures are prescribed.

Part delivery of import consignments permitted where containers arrive late, subject to documentation and procedural conditions.
Part delivery is permitted where all containers have not reached the ICD/CFS within 24 hours of first container arrival. Importers must apply after 24 hours to the Assistant/Dy. Commissioner with documentary evidence; permission requires container wise packing lists and homogeneous goods. RMS facilitated consignments without assessment/examination are eligible; other cases go to the Joint Commissioner. On permission, the Appraiser/Superintendent must register the Bill of Entry in EDI, endorse and record examination reports on the hard copy for each part and the cumulative examination in EDI before final out of charge; details must be maintained ICD wise in a prescribed register. The Public Notice is a Standing Order for officers.