Change in control rules require prior approval and strengthen KRA obligations on KYC validation and audit trails.
KRAs must obtain prior Board approval before continuing after any change in control; perform independent validation of KYC records uploaded by intermediaries as specified by the Board; maintain an audit trail of all uploads, modifications and downloads of client KYC records; and intermediaries must integrate systems with KRAs to enable seamless transfer of KYC documents. Definitions and cross-references are updated to align with current corporate and related statutes.

Ex officio membership on the insolvency board: Ministry of Corporate Affairs nominee formally appointed to represent the Ministry.
The Central Government appointed Dr. Anuradha Guru, Economic Adviser, Ministry of Corporate Affairs, as an ex officio member of the Insolvency and Bankruptcy Board of India to represent the Ministry, under the government's statutory appointment power. The appointment was notified by S.O. 408 (E) dated 28 January 2022 and records administrative particulars including the appointee's designation and the Joint Secretary's administrative signature.

Rescission of notification under Insolvency and Bankruptcy Code withdraws prior Gazette notification while preserving prior actions.
The Central Government rescinds the earlier Gazette notification issued under section 189(1)(b) of the Insolvency and Bankruptcy Code, 2016, withdrawing that notification prospectively while expressly preserving the validity of actions done or omissions made before the rescission.

SGST reimbursement scheme for eligible Assam industrial units sets eligibility, reimbursement limits, compliance rules, and recovery safeguards.
The Scheme provides reimbursement of SGST paid in cash to eligible new industrial units, hotels/resorts of 3 Star and above, river cruise units and green technology power-generation investments that commence commercial production or operation within the covered period under the Industrial and Investment Policy of Assam, 2019. Eligibility depends on policy criteria, prescribed investment thresholds, local employment requirements, separate registration and compliance with GST return and input tax credit utilisation rules. The Scheme excludes specified goods and non-genuine peripheral activities, and prescribes reimbursement limits, approval procedures, audit, recovery, termination of certificates for non-compliance, and special provisions for renewable energy projects.

GST enforcement powers are assigned to a specified Proper Officer, restricting concurrent jurisdiction over the identified taxpayer temporarily.
Powers concerning arrest, summons, access to business premises, and determination of tax liabilities are conferred on the specified Proper Officer in relation to M/s J P Jain & Company under the Delhi Goods and Services Tax Act, 2017. The conferment operates for 120 days from issuance or until further orders, whichever is earlier. During that period, the jurisdictional Proper Officer cannot exercise those powers in respect of the identified taxpayer.

Proper-officer authorization for investigation and tax determination powers applies exclusively to the identified taxpayer, restricting jurisdictional exercise temporarily.
A designated Proper Officer is authorized to exercise powers under sections 69, 70, 71, 73 and 74 of the Delhi Goods and Services Tax Act, 2017, in respect of M/s SK&A Impex LLP. The authorization operates for 120 days from issuance or until further orders, whichever is earlier. During its operation, the jurisdictional Proper Officer cannot exercise powers under those specified sections against the identified taxpayer.

Delegation of GST enforcement powers to a designated officer, with jurisdictional officer barred for the specified taxpayer.
The Commissioner, State Tax delegates powers under sections 69, 70, 71, 73 and 74 of the Delhi GST Act, 2017 to the named Proper Officer for the identified taxpayer, with the delegation limited to a specified operative period. During that period, the jurisdictional Proper Officer is prohibited from exercising those sections against the same taxpayer; the notification names the Proper Officer and taxpayer by GSTIN and conditions the conferment on the stated temporal limitation.

Commencement of GST amendment provisions: specified sub rules of rule 2 take effect from 1 January 2022.
Notification declares that specified provisions of the Chhattisgarh Goods and Services Tax (Eighth Amendment) Rules, 2021-namely sub rule (2), sub rule (3), clause (i) of sub rule (6) and sub rule (7) of rule 2-shall come into force on the first day of January, 2022, as notified by the State Government and published in the State Gazette.

GST Amendment updates limitation period and expands reasons in demand notice form, adding scrutiny and mismatch categories.
The amendment extends the limitation period in rule 137 from four to five years and revises FORM GST DRC 03: the heading adds intimation under FORM GST DRC 01A; item 3's reasons list is expanded to include audit, inspection or investigation, scrutiny, intimation via DRC 01A and mismatch categories between specified returns; item 5 inserts these grounds alongside the existing thirty day response provision; and serial number 7's table is replaced by a detailed tax demand schedule with fields for tax/cess, interest, penalty, fee, others, total, ledger utilised and debit entry particulars.

GST rate amendment: substitution of tariff classifications for specified goods, altering notified entries and effective at year start.
The notification amends Notification No. 21/2018-State Tax (Rate) by substituting the TABLE entries: column (2) against S. No. 4 is replaced with "4414" and column (2) against S. No. 29 is replaced with "7419 80". The amendment is made under the state GST Act on Council recommendation and shall take effect from the 1st day of January, 2022.

GST rate notification amendment updates tariff entries, adds branded tender coconut water criteria and omits a prior entry.
The notification amends the State GST Schedule by substituting specified commodity descriptions, inserting a new entry 97A for tender coconut water not in unit containers that bears a registered brand name or a brand name with an actionable or enforceable right (subject to annexed conditions), omitting S. No. 101, and substituting the classification code 8807 for an existing entry; the changes take effect on the stated commencement date.

GST rate amendments revise tariff classifications and applicable state-tax rates across multiple product schedules.
The Governor, under the Himachal Pradesh GST Act, amends Notification No.1/2017 by substituting, inserting and omitting tariff entries across Schedules I-IV to reclassify specified goods under the 2.5%, 6%, 9% and 14% state-tax schedules, including new entries for inhalation tobacco/nicotine products, biodiesel for blending, ores and concentrates, machinery, electronics and packaged tender coconut water bearing actionable brand claims; changes take effect from 1 January 2022.

Tax exemption for electricity regulatory commission notified subject to conditions on commercial activity and filing obligations.
Notification under section 10(46) designates West Bengal Electricity Regulatory Commission as a notified Commission for exemption of specified income comprising income from the statutorily maintained fund and fees collected under state rules, subject to conditions prohibiting commercial activity, requiring unchanged activities and income character, and mandating filing of return under clause (g) of sub section (4C) of section 139 of the Income tax Act.

Prohibition of fraudulent market practices updated to enhance investigative powers and service of summons procedures
Amendments clarify statutory cross-references for defined terms, expand the prohibition to cover dissemination of false or misleading information through any media intended or likely to influence investors, and enhance investigatory powers to call for records, apply for seizure orders where documents may be tampered with, retain seized materials until investigation concludes, and conduct searches and seizures in accordance with the Code of Criminal Procedure. Procedural updates modernize service of summons and notices by permitting delivery via courier, fax, electronic mail or messaging with digital signature requirements, affixation with witness reports, and newspaper publication as a last resort.

Winding up and disclosure reforms: mandatory trustee notice, unitholder voting requirement, and IND AS-based financial reporting.
The amendments require trustees to notify the Board and publish reasons within one day when a scheme is to be wound up, and where trustees initiate winding they must obtain unit holder consent by simple majority (one vote per unit) and publish results within forty-five days; failure to secure consent necessitates reopening the scheme. Financial statements must be prepared in accordance with IND AS subject to regulatory primacy. Ninth and Eleventh Schedules are revised to mandate mark-to-market valuation, recognition of realised and unrealised gains in revenue accounts (excluding unrealised appreciation from distributable income), permit dividend equalization reserves, specify transaction-price accounting excluding transaction costs, and tighten valuation and disclosure norms for non-traded and real estate investments.

Export restriction on human hair: raw human hair exports now require authorization under the revised policy.
The export of human hair in unworked or raw forms, including waste, has been reclassified from free to restricted under the ITC (HS) Export Policy, effective immediately; exporters must comply with applicable authorisation and procedural requirements for restricted exports under the Foreign Trade Policy.

Sovereign Wealth Fund exemption clarified with strict non inurement, anti borrowing, vesting and mandatory audit disclosure requirements.
The amendment requires that a Sovereign Wealth Fund's earnings be credited to a government-designated account so no benefit inures to private persons (except certain creditor or depositor payments), prohibits loans or borrowings to finance investments in India, provides that assets vest in the foreign government on dissolution subject to limited exceptions, and bars day-to-day participation in investees while allowing monitoring and director appointment rights. It replaces the Annexure with a mandatory audited report and detailed disclosure schedule certifying compliance, listing investments, early sales, ownership and control, intimation compliance, borrowings, and maintenance of segregated accounts.

Presidential Awards for Specially Distinguished Service conferred under the statutory awards scheme to CBIC officers.
Presidential appreciation certificates and medals for Specially Distinguished Record of Service were conferred on CBIC officers and staff by official notification, naming recipients across Directorates and Zones. The awards are granted under Clause (a)(ii) of Para 1 of the statutory Scheme published in Notification No. 12/139/59-Ad.III.B (5 November 1962), as amended, and issued by the Department of Revenue, Ministry of Finance, for administrative recording and implementation.

Regulatory scope of credit rating agencies broadened to include Board specified activities as conditions of registration.
Regulation 9(f) of the 1999 Credit Rating Agencies Regulations is amended to insert wording that a credit rating agency may be subject to conditions concerning "carrying out any activity as may be specified by the Board or" the existing restriction regarding rating of financial instruments, thereby enabling the Board to prescribe additional activities or conditions as part of a CRA's registration and oversight.

Special situation funds allow Category I alternative investment funds to invest in specified stressed assets and act as resolution applicants
The Regulations introduce special situation funds as a Category I AIF, define special situation assets (including specified stressed loans, security receipts, securities of stressed investee companies and insolvency subject borrowings), permit such funds to act as resolution applicants, and require registration under Chapter II. Schemes must meet Board specified corpus and investor investment size thresholds; investments are limited to special situation assets, barred from investing in associates or non special situation AIFs, and certain stressed loan acquisitions are subject to a Board specified lock in.