Designation correction: 'Member of Parliament' changed to 'former Member of Parliament' in specified notification.
Corrigendum substitutes "Member of Parliament" with "former Member of Parliament" in line 3, paragraph 1 of the cited Gazette notification, effecting a textual correction only.

Finance Commission constituted to recommend tax devolution, state grants and a fiscal consolidation roadmap for Union and States.
Constitution of the Finance Commission under Article 280 to recommend allocation of net tax proceeds between the Union and States, principles and sums for grants in aid from the Consolidated Fund of India, and measures to augment State Consolidated Funds for local bodies. The Commission will review Union and State fiscal positions and propose a fiscal consolidation roadmap, consider resource demands and GST impacts, may propose performance based incentives for States, review disaster financing, and must provide state wise estimates and the basis for its findings in a five year report.

Budgetary support under GST enables partial reimbursement of central tax share for eligible legacy manufacturing units in notified states.
The Scheme reimburses, on a quarterly basis, specified proportions of Central tax and Integrated tax actually paid in cash for specified goods manufactured by units that were eligible under listed excise exemption/refund notifications and operating before 01.07.2017; claims are payable only after utilisation of input tax credit, reduced for inputs procured from Composition Scheme suppliers, subject to documentary proof, inspection, verification, special audit where necessary, and strict recovery mechanisms for mis declaration or fraud.

Inter-ministerial committee appointment enables centralized consultation on RLIU rule amendments after public comment period and notification.
The draft substitutes rule 10(2) to empower the Central Government to notify one or more inter-ministerial committees representing specified Ministries or Departments - Industrial Policy and Promotion, the Industry specified in the First Schedule to the Act, Home Affairs, Commerce and Corporate Affairs - permitting determination of committee size and inclusion of other Ministries or Departments as deemed fit, with committees appointed by notification in the Official Gazette.

Tenure extension of Tribunal President in officiating capacity continues under statutory authority until a regular President is appointed.
Extension of tenure granted to Shri G. D. Agrawal to continue as President of the Income Tax Appellate Tribunal in an officiating capacity until a regular President is appointed, effected by the Central Government under the Income Tax Act, the Appellate Tribunal Rules, 2017 and applicable Fundamental Rules as notified by the Department of Legal Affairs.

Definition amendment: expanded gas cylinder and LNG definitions clarify fuel scope and container size limits for regulation.
The amendment adds definitions for Auto LNG and liquefied natural gas, and replaces the definition of gas cylinder to include closed metal containers for compressed gas, LPG, LNG and CNG cylinders fitted to motor vehicles, composite and cryogenic containers, and permits increased water capacity for certain gas storage cylinders subject to diameter limits.

Deposit of specified bank notes lets banks and post offices obtain exchange value from the Reserve Bank, pending RBI satisfaction.
Banks, Post Offices and District Central Cooperative Banks that accepted specified bank notes during the earlier notification windows may deposit those notes in offices of the central banking authority within a limited period after these rules commence and obtain exchange value credited to their accounts, subject to the central banking authority's satisfaction with compliance with the earlier notification and the reasons offered for non-deposit within the earlier timeframe.

Tribunal appointments and service conditions govern qualifications, selection, tenure and post-service restrictions across tribunals for members.
Rules set uniform qualifications, appointment procedure, term and service conditions for tribunal and appellate authority members: appointments are by the Central Government on recommendation of a specified Search cum Selection Committee; terms and maximum ages are fixed in the Schedule; medical fitness, asset declaration and oath are required. Removal and inquiry procedures address insolvency, conviction, incapacity, conflict of interest and abuse of office with opportunity to be heard; service conditions cover salary, pension, leave, allowances and post retirement / post service employment restrictions.

Commencement of tribunal merger provisions: Part XIV provisions activated, triggering merger and service condition changes.
The Central Government, exercising its statutory commencement power under the Finance Act, 2017, notified the operative date on which the provisions of Part XIV of Chapter VI of that Act become effective, bringing into force amendments providing for merger of tribunals and related authorities and changes to conditions of service for their chairpersons and members.

Startup definition limits on age and turnover, restricting eligibility for recognition and tax benefits, and certification requirement.
An entity is a Startup if incorporated/registered in India as a private limited company, partnership or LLP, operates within defined post incorporation age limits (with longer duration for biotechnology), remains below the prescribed turnover ceiling, and works towards innovation or a scalable business model. Recognition requires an online application with incorporation/registration proof and a business write up; tax benefits additionally require certification from the Inter Ministerial Board and exclusion of non commercial or undifferentiated projects. DIPP may revoke recognition or eligibility for tax benefits if documents are missing or information is false.

Startup recognition requires incorporation type, age and turnover limits, innovation focus and certification for tax benefits.
An entity is a Startup if incorporated in India as a private limited company, partnership firm or limited liability partnership, and within the applicable temporal limit (seven years, ten for biotechnology), with turnover below the prescribed threshold, and engaged in innovation, development or scalable business activities. Recognition requires an online application with incorporation documents and a business write-up; tax benefits additionally require certification by the Inter-Ministerial Board of Certification. Recognition or tax-certification may be revoked for false or incomplete submissions.

Deposit of confiscated currency permitted where court direction and recorded serial numbers match, at designated banks.
Rules permit the deposit or exchange of confiscated or court-produced specified bank notes at Reserve Bank offices or designated nationalised banks when the person or government produces the court's direction and the serial numbers recorded by the law enforcement agency match those mentioned in the court direction; forfeited notes and notes placed in custody by court order are similarly claimable, while notes confiscated or seized after the statutory cutoff are excluded.

Aadhaar mandatory for Atal Pension Yojana: applicants must enroll or authenticate; interim ID accepted; regulator to facilitate enrolment.
An individual eligible under the Atal Pension Yojana must furnish Aadhaar or undergo Aadhaar authentication; those not yet enrolled must apply for Aadhaar and may, until Aadhaar is assigned, present an Aadhaar Enrolment ID slip or specified alternate identity documents verified by a designated officer. The Regulator and intermediaries must provide or facilitate enrolment facilities, publicize the requirement, and enable registration of enrolment requests; the notification is effective on Gazette publication except in Assam, Meghalaya and Jammu and Kashmir.

Inter Ministerial Board composition updated to include specific departmental representatives and Secretary may nominate additional members.
Amendment to the composition of the Inter Ministerial Board responsible for furnishing certificates of eligibility to startups for availing tax benefits under the Income Tax Act, 1961: the Board shall include representatives of the Department of Biotechnology, the Department of Science & Technology, the Ministry of Electronics and Information Technology and the Joint Secretary, Department of Industrial Policy & Promotion. The Secretary, Department of Industrial Policy and Promotion may nominate a representative from any other Department to the Board as deemed necessary.

Senior Citizens' Welfare Fund expansion adds specific unclaimed financial assets and insurance proceeds to the fund.
The 2017 amendment expands the Senior Citizens' Welfare Fund Rules by inserting into rule 3(3) four new clauses covering accounts maintained by banking and co-operative banks, State Bank group and regional rural banks; dividend accounts, deposits and debentures of companies; life and non-life insurance schemes or policies; and accounts of the Coal Mines Provident Fund, thereby bringing these unclaimed balances and holdings within the Fund's scope.

Sovereign Gold Bond scheme: gold-linked government bonds with fixed interest, demat option and eight-year redemption terms.
The notification establishes the Sovereign Gold Bond Scheme 2016-17 Series IV, defining eligible holders and receiving offices, denomination (one gram multiples) and subscription limits, linking nominal and redemption values to the simple average closing price of 999 purity gold published by the India Bullion and Jewellers Association, fixing issue pricing and a fixed interest rate payable half-yearly, permitting demat conversion, specifying eight-year maturity with premature redemption after five years, enabling use as loan collateral under RBI LTV norms, and setting tax, nomination, transfer, trading and commission provisions.

Advisory committee rules establish composition, term limits, meeting quorum, fee entitlement and conduct obligations under the insolvency framework.
The regulations create subject-specific Advisory Committees to advise the Board, require committees to include Professional and General Members in an approximate 2:1 ratio, limit membership to one committee at a time and terms to three years with reappointment permitted, and designate a General Member as Chairperson and a senior officer as Secretary (who may speak but not vote). Meetings require fifty percent of existing strength for quorum, the Secretary convenes and records meetings, the Chairperson sets the agenda, members receive a sitting fee and travel reimbursement, must maintain confidentiality, and must disclose and abstain from matters where they have an interest.

Governing Board procedures set meeting governance, disclosure duties, conflict management, contract formalities, and records custody.
Regulations establish procedural rules for the Governing Board of the Insolvency and Bankruptcy Board of India, listing reserved subjects for Board consideration, prescribing meeting governance including convening, notice, quorum, voting and minutes, and requiring a Chairperson appointed Secretary to arrange meetings and custody of records. They impose ethics obligations through an Oath and Charter of Conduct necessitating disclosure and management of conflicts of interest, limit outside remunerative activities for Whole Time Members, regulate contract execution and affixation of the common seal, and provide for procedural determinations, validation of acts notwithstanding non material irregularities, and application to Committees.