Pillar Two income taxes: Accounting Standard change exempts deferred tax recognition, mandates targeted disclosures and sets effective dates.
AS 22 is amended to treat taxes arising from Pillar Two legislation as Pillar Two income taxes and to require that enterprises neither recognise nor disclose deferred tax assets and liabilities related to those taxes. Enterprises must disclose that they applied the exception and separately present current tax expense (income) related to Pillar Two income taxes. For enacted or substantively enacted but not yet effective Pillar Two legislation, enterprises must provide known or reasonably estimable qualitative and quantitative information about exposure, with an SME exemption for those exposure disclosures.

GST registration rules revised to require electricity-based business premises details and proof of principal place of business.
Amendment to the Andhra Pradesh Goods and Services Tax Rules, 2022 modifies FORM GST REG-01 by replacing placeholder fields with particulars relating to the nature of possession of the principal place of business, the electricity board or unit, and the CA number or electricity consumer number. It also adds a state-specific document requirement, namely a copy of the electricity bill, as proof of the principal place of business, with effect from 1 January 2026.

Appeal filing deadline extended as a transitional cutoff, then standard three-month limitation applies from order communication.
The notification prescribes that appeals to the Appellate Tribunal in cases where the order was communicated before 1 April 2026 may be filed up to 30 June 2026; orders communicated on or after 1 April 2026 must be appealed within the standard three-month period from the date of communication.

Appeal deadline extension: GST appeals with pre April orders allowed until June 30, 2026; three month rule applies thereafter.
The Government notifies that appeals to the Appellate Tribunal in GST matters where the order was communicated before 1 April 2026 may be filed up to 30 June 2026; orders communicated on or after 1 April 2026 are subject to the standard three-month filing period measured from the date of communication of the order.

Appeal limitation under Punjab GST extended for older orders, while the standard three-month filing period now applies prospectively.
Appeal limitation before the Appellate Tribunal under the Punjab Goods and Services Tax law is extended for cases where the impugned order is communicated before 1 April 2026, allowing filing up to 30 June 2026. For orders communicated on or after that date, appeals must be filed within the ordinary three-month period from communication of the order to the person preferring the appeal.

Retail sale price valuation expanded for specified tobacco and pan masala supplies under Punjab GST.
Valuation under the Punjab Goods and Services Tax Act, 2017 is expanded to specified goods supplied on which retail sale price is declared, including pan masala and various tobacco products. The amendment defines retail sale price, addresses multiple or altered declared prices, applies area-wise declared prices for valuation, and adopts Customs Tariff Act classifications and interpretive rules. It is deemed to have come into force on 1 February 2026.

Punjab GST rate changes reclassify tobacco goods, placing biris at 9% and several tobacco products at 20%.
The Punjab GST rate notification amends the tax treatment of specified tobacco-related goods. Biris are inserted in Schedule II at 9%, while pan masala, unmanufactured tobacco and tobacco refuse, cigars and cigarettes, other manufactured tobacco and tobacco substitutes other than biris, and tobacco or nicotine-substitute inhalation products are inserted in Schedule III at 20%. Schedule VII at 14% is omitted, and the amendment is deemed effective from 1 February 2026.

Retail sale price valuation for specified tobacco goods is introduced, with a limited exemption from the input tax credit restriction.
The amendment inserts a valuation rule under which the value of supply of specified goods, including pan masala and tobacco products, is deemed to be the retail sale price declared on such goods less applicable tax. It prescribes the tax calculation method and defines retail sale price for cases involving multiple declarations, altered prices, and area-specific prices. It also exempts a registered person other than a manufacturer from the input tax credit restriction for specified goods taxed by the supplier on a retail sale price basis.

Appeal filing deadline extended to 30 June 2026 for backlog GST appeals; standard three-month filing period applies thereafter.
Backlog appeals in goods and services tax where the order was communicated before 1 April 2026 may be filed up to 30 June 2026; orders communicated on or after 1 April 2026 must be appealed within three months from the date of communication, pursuant to the notification issued under the Kerala State Goods and Services Tax Act, 2017 on the recommendation of the Council.

Appeal filing deadline extended for pre-April communications; subsequent orders are subject to the standard three-month limitation before the tribunal.
Appeals in respect of orders communicated before 1st April 2026 may be filed up to 30th June 2026; orders communicated on or after 1st April 2026 are subject to the standard three-month limitation running from the date the order is communicated to the person preferring the appeal.

Member designation change in Authority for Advance Ruling: Krati Nigam appointed Joint Commissioner for Daman, effective on publication.
Substitution in Notification No. 14/2018-entries against Sl. Nos. 3 and 4, column (3), item (i) replaced to read: "(i) Ms. Krati Nigam, Joint Commissioner, Central Goods and Services Tax (CGST) Daman." Issued under section 15 of the UT GST Act, section 96 of the CGST Act and rule 103 of the GST Rules. The amendment is effective on publication in the Official Gazette and further amends the principal notification G.S.R. 1004(E) dated 8th October, 2018.

Reporting financial institution obligations expanded to include digital currencies and crypto-assets, increasing due diligence and reporting requirements.
Amendments to Rules 114F-114H extend reporting and due-diligence obligations for reporting financial institutions to include accounts holding central bank digital currencies, specified electronic money products, and relevant crypto-assets for non-U.S. reportable accounts. The rules redefine depository institutions and depository accounts to cover entities holding such digital instruments, add definitions for central bank digital currencies, specified electronic money products and relevant crypto-assets, require additional reported data (self-certification status, joint-account details, roles of controlling persons or equity interest holders, account type and pre-existing/new status), permit limited non-reporting of gross proceeds where reported under a Crypto-Asset Reporting Framework, and introduce a Qualified Non-Profit Entity exclusion and transitional reporting relief for accounts existing at end of 2025.

GST appellate filing timelines allow extended filing for earlier communicated orders and prescribe three months for later orders.
GST appellate filing timelines under section 112(1) provide that appeals against orders communicated before 1 April 2026 may be filed before the Appellate Tribunal up to 30 June 2026. Appeals against orders communicated on or after 1 April 2026 may be filed within three months from communication of the order.

Proper officer jurisdiction under GST assigns registration, assessment, enforcement, recovery and penalty functions subject to territorial and pecuniary limits.
Jurisdiction-wise proper officer and authorised officer functions under the Rajasthan Goods and Services Tax Act, 2017 are assigned with immediate effect, subject to territorial jurisdiction, specified State-wide authority, prior approvals and pecuniary limits. The assignments cover registration, cancellation and revocation, assessment, audit, inspection, search, seizure, tax determination, recovery, penalties, detention, confiscation, information collection and e-way bill interception. Tax-determination cases above the prescribed monetary threshold must be transferred to the concerned Additional Commissioner, while enforcement-investigated cases are transferred to jurisdictional officers for notices, adjudication and further proceedings.

De-notification of SEZ area reduces notified land, enabling infrastructure reuse under statutory de-notification powers with state approval.
Central Government de-notifies 0.809 hectares of the sector-specific Special Economic Zone at Ayiroopara Village, reducing the notified area to a resultant 7.289 hectares, under the statutory powers in the Special Economic Zones Act and Rules, following the developer's proposal, Development Commissioner recommendation, and State Government approval; the de-notified parcel (Survey No. 407/1-1 Block-12) will be used for infrastructure consistent with State land use guidelines.

Corrigendum to Punjab SGST notification updates the exemption reference in section 8 wording.
The Government of Punjab issued a corrigendum to Notification No. S.O. 34/P.A.1/2019/S.1/2019 dated 8 April 2019, substituting the exemption reference so that it reads "except clause (ii) of section 8" instead of "except clause (b) of section 8".

Time limit for GST appeals: filings allowed until June 30 for earlier orders; others within three months of communication.
The government notifies that appeals in respect of orders communicated before 1 April 2026 may be filed up to 30 June 2026, and that appeals against orders communicated on or after 1 April 2026 must be filed within three months from the date on which the order is communicated to the person preferring the appeal.

Tariff value fixation for specified imports sets revised valuation benchmarks for edible oils, metals and precious metals.
Substitution of TABLE-1, TABLE-2 and TABLE-3 in the principal Customs (N.T.) notification fixes tariff values in US dollars for specified edible oils, brass scrap, areca nut, and defined classes of gold and silver; the entries specify tariff values by tariff item and description and include scope and explanatory notes for certain gold and silver forms, with the amendments taking effect on the stated effective date.

Scientific research approval for a university enables donor tax benefit eligibility, subject to prescribed reporting and certification compliance.
Approval is granted to Sri Ramachandra Institute of Higher Education and Research Trust, Chennai as an institution for Scientific Research within the university/college category, subject to time limited applicability and ongoing compliance with the Income tax Rules, including annual submission of the prescribed statement to the income tax authority and issuance of prescribed donor certificates, with provision for correction statements.

SEZ de-notification under SEZ Act reduces designated SEZ area following statutory approvals and compliance with procedural requirements.
The Central Government, exercising the second proviso to sub-section (1) of section 4 of the Special Economic Zones Act, 2005 and rule 8 of the SEZ Rules, 2006, de-notifies 1.18 hectares from the SEZ at Sy. No. 31/1 Chikkankannelli Village, thereby fixing the resultant SEZ area at 1.59 hectares. The action follows a proposal by M/s. RGA Infrastructure, State Government approval, and recommendation by the Development Commissioner, Cochin SEZ, and records satisfaction that requirements of sub-section (8) of section 3 and related conditions are met.