Separate business unit compliance for debenture trustees receives a further extension, while existing operational conditions remain unchanged.
Compliance timeline for registered debenture trustees to transfer activities outside the securities regulator's purview to separate business units is extended until April 27, 2027. The extension addresses operational difficulties in establishing implementation systems and processes, alongside an ongoing review of the debenture trusteeship and separate business unit framework. All other terms and conditions governing such activities remain unchanged.

Export factoring support now uses IEC identification, defines filing triggers, and permits separate concurrent interest-subvention benefits.
Export factoring support eliminates declarations of intent and Unique Identification Numbers, using the Importer Exporter Code for applications, claims and disbursals. Factors must upload transaction-level data for eligible factoring modalities within applicable deadlines, while exporters review tagged records and submit consolidated monthly, digitally authenticated claims. Eligibility depends on Export General Manifest filing for exports from 20 February 2026. MSME exporters may concurrently access interest subvention, but cannot claim the same invoice, receivable or interest cost under both interventions.

Omission of export refund restriction applies to pending proceedings, removing the dual-benefit bar from its original effective date.
Omission of rule 96(10) removes the restriction on IGST refunds for exporters who availed specified IGST exemption or concessional benefits on procurement. The omission operates retrospectively from the rule's original effective date for proceedings pending when it was omitted, because no express saving or sunset provision preserved those proceedings. The same treatment applies, mutatis mutandis, to the omission of rules 89(4A) and 89(4B).

Export-service payment receipts through repatriable rupee accounts and permitted set-offs qualify for GST export consideration requirements.
Receipt of export-service consideration in convertible foreign exchange or repatriable INR accounts, including SNRR and INR Nostro accounts, satisfies the IGST export condition. Payments to stock brokers through SNRR or NRE accounts qualify, while NRO payments must be routed through repatriable INR accounts. RBI-compliant set-off of export receivables against import payables, and net retention of reinsurance-broker commission that extinguishes the exporter's realisation obligation under FEMA, also satisfy the condition.

Input tax credit on dealer-agency demo vehicles is available because test drives further supply of similar motor vehicles.
Input tax credit on demo vehicles purchased by authorised agents under a dealer-agency model for customer demonstration and test drives is not blocked under section 17(5)(a) of the Central Goods and Services Tax Act, 2017. Although the manufacturer sells new vehicles directly to customers, demo vehicles facilitate the further supply of similar motor vehicles. The expression "such motor vehicles" permits credit for vehicles used to support the further supply of similar vehicles, placing dealer-agency and traditional dealership models on the same footing.

Section 17(4) ITC apportionment requires eligible financial-service registrants to apply the restricted credit mechanism consistently across registrations.
Eligible banking companies, financial institutions and non-banking financial companies supplying deposit, loan or advance services may adopt the section 17(4) restricted input tax credit mechanism. Once an eligible distinct person of an entity opts for that mechanism, all eligible distinct persons of that entity must follow it. Credit relating to non-business use and blocked supplies is permanently reversed, specified same-PAN supplies may receive the applicable relaxation, and the remaining eligible credit is subject to the prescribed restricted availment. Temporarily ineligible credit may be reversed and later reclaimed on fulfilment of conditions.

Input service distributor credit allocation requires eligible credit to reach attributable recipients, who bear eligibility and reversal obligations.
Each separately registered business vertical or place of business that receives input-service invoices for distinct persons and is required to distribute credit must obtain ISD registration. The ISD must distribute credit only to the distinct person to whom it is attributable. Recipients must meet input-tax-credit eligibility conditions and make applicable reversals, while the ISD must distribute credit in the month it determines it prima facie eligible and separately identify eligible and ineligible credit. Rule 54(1A) transfers credit to the ISD; it is not an outward supply, turnover, or Net ITC of the transferor.

GST appeal pre-deposit rules distinguish admitted and disputed tax and protect refunds unless the favourable order is stayed.
GST appeal admission requires full payment of admitted tax, interest, fine, fee, and penalty, with a ten percent pre-deposit calculated on disputed tax. For a Tribunal appeal, the disputed amount is determined with reference to the liability confirmed by the Appellate Authority, in addition to the first-stage deposit. Refund of a payable pre-deposit need not be expressly directed in the appellate order and remains available despite a further departmental appeal unless the favourable order is stayed. Interest is computed separately from each actual deposit date.

Reasoned GST adjudication requires precise notices, evidence-based fraud allegations, meaningful hearings, and orders confined to stated charges.
Show cause notices in GST demand proceedings must clearly state the noticee particulars, factual allegations, evidence, legal provisions, individual role of each noticee, proposed demand and basis of quantification. Fraud, wilful misstatement or suppression-based demands require specific material showing deliberate conduct and intent to evade tax; mere non-payment, discrepancy or inadvertent error is insufficient. Adjudication orders must be reasoned, address evidence and taxpayer submissions, remain within the notice allegations and quantified demand, and provide issue-wise findings on tax, interest and penalty.

GST registration applications require complete portal-based documentation, while Aadhaar authentication and simplified registration accelerate processing.
GST registration applications must be filed online using the form applicable to the applicant category, with complete and legible identity, business constitution, signatory, premises and other required particulars. Principal and additional business premises require accurate addresses and prescribed ownership, lease, consent, co-working or Special Economic Zone evidence. Aadhaar-authenticated applications generally follow the shorter processing timeline, while non-authenticated or risk-selected cases can require biometric checks or physical verification. Deficiencies must be addressed through the prescribed notice-and-reply process; unnecessary documents and subjective objections are excluded. Simplified registration provides automated processing for eligible small taxpayers subject to input tax credit restrictions.

Additional-fee waiver permits timely annual financial statement and return filings without extending statutory annual general meeting deadlines.
Companies may file financial statements for financial year 2025-26 in specified AOC-4 forms until 31 December 2026, and annual returns in MGT-7 and MGT-7A until 31 January 2027, without payment of additional fees. The relaxation does not extend the statutory time for holding annual general meetings, and later filings attract all applicable fees, including additional fees, from the original due date.

Institutional investor call-recording requirements become non-mandatory while research analysts retain interaction-record obligations for all clients.
Research Analysts and Research Entities are not required to maintain call recordings of interactions with institutional investors, but must retain legally verifiable records of client interactions. The obligation covers fee-paying, non-fee-paying, and prospective clients where conversations concern research services. Records may include signed physical records, call recordings, registered-email communications, SMS records, or other legally verifiable records; call recording is unnecessary where a digital footprint exists. Recordkeeping starts with the first interaction, ordinarily continues for five years, and extends through dispute resolution or preservation directions.

Standard Input-Output Norms enable uniform advance authorisation for specified doxycycline tablet and clobetasol propionate exports.
Four new Standard Input-Output Norms under Chemical and Allied Products prescribe import-product and quantity entitlements for specified doxycycline tablet and clobetasol propionate exports. The norms allow stated quantities of doxycycline USP (monohydrate) for three doxycycline tablet variants and betamethasone 17-propionate for clobetasol propionate. They facilitate expeditious issuance of Advance Authorisations by Regional Authorities and uniform application of input-output norms.

FEMA compounding delegation enables Regional Offices to process overseas investment, borrowing, lending, and guarantee contraventions under prescribed jurisdiction.
Powers to compound specified FEMA contraventions concerning overseas investments, borrowing and lending, and guarantees are delegated to select Regional Offices. Overseas investment applications must be filed according to the Unique Identification Number assigned to the relevant foreign entity, joint venture, or wholly owned subsidiary; cases without a UIN go to the Cell for Effective Implementation of FEMA at the Central Office. Borrowing, lending, and guarantee applications follow Regional Office jurisdiction based on the registered office or domicile, subject to the overseas direct investment exception.

Early pay-in margin waiver permits subsequent cash-segment positions within accepted securities value, subject to client-level risk controls.
Margin waiver for subsequent cash-segment buy or sell positions applies where a client has a net sell obligation and an Early Pay-In request for sold securities has been accepted. The clearing corporation shall not collect margin from the trading member or clearing member on subsequent client positions up to the accepted EPI amount. Available EPI value is the lower of the EPI completed and securities sold value. Squaring off an EPI-backed sale position removes the EPI value, with resulting margin shortfall blocked from proprietary collateral, except for trade-for-trade securities.

Enhanced due diligence in overseas trade transactions is urged following an unresolved quality-control and trade-dispute complaint.
DGFT advises heightened vigilance and comprehensive due diligence in commercial dealings with M/s Julfikar Fashions Limited, Bangladesh, following a Quality Control and Trade Dispute complaint. Trade stakeholders are advised to assess transaction risks before processing applications, providing financial or credit support, trade facilitation, certifications or recommendations. Adverse experiences, payment-related issues, contractual disputes and other relevant information should be promptly reported for examination and action. The precautionary measure seeks to alert trade participants to potential risks and safeguard Indian exporters.

PSIC exemption for metallic scrap imports applies only to designated origins, entry ports, safety certification, and screening conditions.
Imported metallic waste and scrap generally requires a Pre-Shipment Inspection Certificate from the country of origin. Shredded and unshredded scrap from designated safe countries or regions may be exempt where it is accompanied by a non-radioactive and non-explosive materials certificate, enters through specified sea ports, and undergoes mandatory radiation and explosive screening. Trans-shipments do not qualify. Exempt consignments may be cleared for home consumption at an eligible port or an Inland Container Depot upon proof that entry-port conditions were met.

Electronic certificates of origin enable preferential tariff claims when authentication, electronic filing, and single-use conditions are met.
Electronic Certificates of Origin issued by New Zealand issuing bodies are valid for preferential tariff treatment when issued in the prescribed format, authenticated by the issuing body's seal and authorized signature, and uploaded on e-Sanchit. Importers or Customs Brokers must accurately declare certification particulars in the bill of entry. A proof of origin may support only one importation, and system controls will prevent reuse of the same certification number. Post-importation preferential tariff claims are available for qualifying originating goods in transit or under customs control on 20 October 2026.

Raw sugar TRQ surrender deadline is extended, allowing holders to return unutilised allocations subject to prescribed CIF-value payment.
Unutilised tariff-rate quota (TRQ) allocations for raw sugar imports may be surrendered by holders until 15 November 2026. Surrender requires payment equal to 0.5% of the CIF value of the quantity returned under existing modalities. All other terms and conditions governing the raw-sugar TRQ remain unchanged, and the alteration is confined to the surrender timeline.

Tariff rate quotas establish certificate-based import authorisation, electronic customs debiting, annual limits, and prescribed quota windows for preferential imports.
TRQs for apples, kiwifruit, albumins and New Zealand MPI-certified Manuka honey operate through export certificates issued by New Zealand and electronic TRQ Authorisations issued to designated Indian importers. Applications must reference the relevant certificate or allocation, identify MSME status, and are transmitted to the Indian Customs EDI System. Imports are allowed only through electronic customs debiting. Authorisations are subject to annual quota limits, applicable CIF conditions and quota windows, remain valid only for the relevant quota year, and lapse to the extent unutilised.