Foreign investment via automatic route allowed where strategic disinvestment in principle approval exists for PSU petroleum refining projects
The FDI policy amendment creates a conditional exception for petroleum-sector PSUs: while private sector exploration, marketing, pipelines and refining remain allowed under the automatic route and PSU refining was previously subject to a lower foreign equity cap, foreign investment up to full foreign equity under the automatic route is permitted where an in principle approval for strategic disinvestment of a PSU has been granted; effectivity follows issuance of the applicable foreign exchange notification.

SEZ approvals: extensions, shareholding changes and restricted procurement ratified with compliance and disclosure conditions.
The Board approved extensions of formal approvals and LoAs for multiple SEZ developers and units, authorised changes in names and shareholding subject to continuity of obligations, eligibility, security clearances and tax disclosure to CBDT, ratified procurement of restricted items (notably sand/soil) from DTA subject to actual use within SEZs and environmental compliance, granted co-developer statuses with standard SEZ terms, and made miscellaneous determinations including conditional exemptions for an IFSC unit, rejection of an export proposal for a restricted pharmaceutical, deferral of an industrial licence application and restoration of an LoA on appeal.

Extension of Limitation: timelines for filing GST appeals and revisions are suspended until further orders, not original adjudications.
The extension of limitation applies to judicial and quasi judicial proceedings such as appeals, reviews and revisions under GST, while statutory compliances required of taxpayers remain governed by the statute or specific notifications; tax authorities may continue to hear and dispose quasi judicial matters, but actions like scrutiny, searches, investigations, issuance of summons, show cause notices and arrests are not covered by the extension.

Extension of limitation periods applies to appeals and revisions under GST, not to original adjudication or routine compliances.
The highest court's extension of limitation applies to judicial and quasi judicial matters-petitions, suits, appeals, reviews and similar lis pursued within statutory limitation periods-and therefore extends timelines for filing appeals, reviews and revisions against quasi judicial GST orders before appellate authorities and courts. Routine taxpayer compliances, original adjudication actions, investigative and enforcement steps, and many show cause/ordering processes remain governed by the statute and any statutory notifications and are not covered by that extension.

Dynamic QR Code compliance on B2C invoices clarified for UPI details, foreign-recipient services, and linked order references.
Clarification was issued on the applicability of Dynamic QR Code on B2C invoices under the Assam GST framework and on compliance with the notification mandating such code. It states that invoices issued to persons holding a Unique Identity Number are to be treated as B2C supplies for this purpose; separate bank account and IFSC details are not required where the UPI ID is linked to the payee's account; an authorised collector's UPI ID may be used; invoices in specified foreign-recipient service cases may be issued without Dynamic QR Code; and linked order ID or only the balance payable may be shown in appropriate cases.

Deemed exports module introduced online; file TED refund, duty drawback, and brand-rate fixation applications via portal.
An online Deemed Exports Module requires electronic filing for Refund of Terminal Excise Duty, Duty Drawback as per AIR, and Fixation of Brand Rate for Duty Drawback; applicants must upload documents, pay fees, receive a tracking file number, respond to RA deficiency letters online, and submit prescribed physical supporting documents under ANF-7A to the relevant RA within seven days, while legacy physical applications continue to be processed manually.

Export authorisation for SCOMET items must be obtained via the new online module with centralized processing at HQ.
Issuance of export authorisation for SCOMET items is to be conducted exclusively through a new online Restricted Exports IT Module accessible via the DGFT website; all applications for issuance, amendment, or re-validation must be filed electronically and the SCOMET Cell at HQ will remain the nodal point for centralized issuance and processing, with existing pending applications migrated into the new system.

Monetary penalties for insolvency professionals require agencies to adopt graded fines for specified professional contraventions.
IPAs must amend their bye laws to prescribe minimum and maximum monetary penalties and a graduated penalty regime for specified professional contraventions, enabling their Disciplinary Committees to impose fines for failures such as deficient disclosures, conflicts of interest, poor record keeping, improper claim handling, non compliance with adjudicatory directions, outsourcing duties, failure to appoint valuers, non cooperation with inspections, failures in public announcements and creditor notices, mishandling resolution applicants or plans, inaction on suspect transactions, defective contracts, and other bye law breaches; the circular requires incorporation of the amended disciplinary provision and is effective immediately.

GST limitation extension applies to appeals and allied remedial proceedings, not taxpayer compliances, original adjudication, or investigative actions.
Extension of limitation under GST law is limited to judicial and quasi-judicial remedial proceedings, including appeals against quasi-judicial orders and proceedings for review, revision or rectification. Taxpayer compliances, original adjudication, scrutiny of returns, summons, search, enquiry, investigation, arrest, issuance of show-cause notices, reply periods and passing orders remain governed by statutory or notified timelines. Pending judicial, quasi-judicial and appellate matters may continue to be heard and disposed of.

Extension of limitation for judicial and quasi judicial GST appeals covers filing of appeals, reviews and revisions under GST law.
The clarification states that the Supreme Court's suspension of limitation applies to judicial and quasi judicial proceedings in the nature of petitions, suits, appeals, reviews and revisions, and therefore suspension extends timelines for filing appeals, reviews and revisions against quasi judicial GST orders. Taxpayer compliances governed by statutory timelines and notifications remain unaffected by the suspension, and investigative or enforcement actions such as scrutiny, summons, searches, inquiries and arrests are not covered by the suspension.

MEIS inclusion of antimalarial HS codes expands export incentive eligibility for specified past export period under FTP authority.
Two ITC HS codes describing goods containing antimalarial active principles are added to Appendix 3B, Table 2 of the MEIS and are declared eligible for MEIS benefits at the prescribed rate for exports made in the specified export period, the amendment being issued under paragraph 1.03 of the Foreign Trade Policy.

SCOMET revalidation: new ANF proforma and online filing streamline applications and prescribe documentation and fee.
A new ANF 2O(d) proforma is notified for revalidation of SCOMET export authorisation, requiring IEC, fee receipt, existing authorisation details, export obligation and performance data, item descriptions, reasons for unfulfilled obligations with supporting documents, and an authorised declaration. Revalidation may be sought up to thirty days before expiry but renewal counts from actual expiry and total validity will not exceed twelve months. Applications require the signed ANF, attested export authorisation copy, and payment evidence, and must be filed initially by email and subsequently via the DGFT online SCOMET module.

Interoperable RTA platform enables integrated mutual fund transactions and investor services through standardized APIs and data sharing.
RTAs must jointly implement an industry-wide interoperable, API-based platform to enable integrated mutual fund transactions, service request initiation/tracking, complaints handling, and consolidated investment reporting by sharing real-time data with AMCs and Depositories under SEBI-prescribed data standards. The platform must be scalable, comply with SEBI's Cyber Security and Cyber Resilience framework and BCP/DR guidelines, and RTAs are jointly and severally responsible for compliance, system and cyber audits. The rollout is phased (starting with non-financial transactions) with full operationalisation by the prescribed deadline, and new RTAs must adhere to these requirements.

IGST on repaired goods re-imported applies to repair value, insurance and freight, with cess where applicable.
Goods re-imported after export for repairs attract IGST and applicable compensation cess on the fair repair cost, including materials, and insurance and freight for both outward and return movement. The customs-duty concession limits the duty and tax incidence for eligible re-imports to this repair-related value. Clarificatory amendments reinforce the GST Council's position that IGST and applicable cess apply on this basis, without prejudice to their leviability before the amendments.

Integration of ECCS with RBI systems will transmit courier bill data via ICEGATE to support online forex compliance.
Courier Bills of Entry and Courier Shipping Bills will be transmitted from ECCS to RBI's IDPMS/EDPMS via ICEGATE to support online compliance with foreign exchange rules; AD code is essential for RBI remittance monitoring, online registration is available on ICEGATE, exporters and importers are advised to register AD codes, and in the initial phased launch AD code declaration is optional and ECCS processing will not be stopped for unregistered AD codes, with validation to follow after trade readiness is confirmed.

Nomination framework for trading and demat accounts requires prescribed forms, e-sign options, and compliance-linked account restrictions.
SEBI introduced a nomination framework for eligible trading and demat accounts, requiring new account holders to either provide nomination or opt out through prescribed forms, with activation of new accounts only on receipt of the specified formats. Existing eligible account holders must indicate their nomination choice by 31 March 2022, failing which trading accounts are to be frozen for trading and demat accounts frozen for debits. The circular also provides for wet signature, thumb impression with witness, and e-Sign execution, and requires intermediaries to maintain systems, safeguard client records, and implement the prescribed changes.

Deemed recordation timelines for scheme applications ensure uniform processing while allowing exceptions for policy or incomplete filings.
SEBI prescribes that certain scheme-related filings by AMCs will be deemed to be taken on record or treated as having no objection if no queries or modifications are raised within 21 working days, covering changes in fundamental attributes, mergers/consolidations, rollovers and conversions of close ended schemes, and Regulation 24(b) applications; this applies to complete applications, except where policy-level consultation is required, and to submissions received on or after the effective date.

Extension of AGM deadline for top listed entities granted, allowing additional time to hold annual meeting due to pandemic
For the 2020-21 year, the timeline for the Annual General Meeting (AGM) for the top 100 listed entities by market capitalization is extended such that these entities may hold their AGM within six months from the date of closing of the financial year, relaxing the usual five-month requirement; the circular takes immediate effect and is issued under SEBI's regulatory powers subject to the Companies Act and related rules.

License lifetime validity reform: periodic renewals abolished, inactivity-based invalidation after prolonged inactivity, and commissioners empowered to restore registrations.
Periodic renewal requirements for licences and registrations under select customs regulations are abolished in favour of lifetime validity, coupled with safeguards: automatic invalidation for inactivity exceeding one year, voluntary surrender after clearance of dues and cessation of proceedings, and empowerment of the Principal Commissioner or Commissioner to reinstate licences invalidated for inactivity; these changes will be reviewed after six months and applied to specified customs regulations.

Extension of limitation applies to judicial and quasi judicial GST appeals and revisions, not to original adjudication or compliance.
Extension of limitation periods applies to judicial and quasi judicial proceedings in GST-principally appeals, reviews, revisions and similar lis required to be instituted within statutory time frames-while taxpayer compliance obligations, original adjudication, show cause proceedings and enforcement actions (such as searches, enquiries, investigations and arrests) remain governed by the statutory timelines and specific extensions under the GST law.