Government approval requirement for investors from land-border countries now mandatory before private placement subscription under FEMA rules.
No offer or invitation for securities by private placement may be made to a body corporate incorporated in, or a national of, a country sharing a land border with India unless that entity has obtained Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and attached the approval to the private placement offer cum application letter. Form PAS-4 (Part B) is amended to require a declaration whether such Government approval is required and, if required, that it has been obtained and enclosed.

GST threshold reduction alters turnover eligibility for State registration and compliance from the notified effective date.
The State amends an earlier notification under the State Goods and Services Tax rules by substituting the previously stated higher turnover threshold with a reduced turnover threshold, effective from the notified effective date, thereby changing which persons meet the threshold for applicability and compliance under the Telangana SGST framework.

Advance ruling applications now require digital signature or registered-email submission with prescribed signer authorities.
The amendment to rule 44E removes the "in quadruplicate" filing requirement and mandates that applications for advance rulings, their verifications, annexures and accompanying documents be digitally signed where digital signature filing is required, or communicated via the applicant's registered e-mail otherwise. It prescribes who may sign or verify for individuals, HUFs, companies, firms, associations and other persons, and permits authorised signatories with an attached power of attorney. Forms 34C-34EA are substituted to standardize application contents, annexures and verification procedures.

Exchange Rate Determination: notification fixes conversion rates for specified foreign currencies for import and export purposes.
Notification No. 40/2022-Customs (N.T.) fixes the rate of exchange for specified foreign currencies for conversion into Indian rupees under section 14 of the Customs Act, with separate rates for imported and export goods set out in Schedule I and per-100-unit rates for certain currencies in Schedule II, effective from 6th May, 2022, and superseding earlier Notification No. 34/2022-Customs (N.T.).

Recipient eligibility narrowed: services confined to union territory or local authority; prior governmental entities excluded.
The amendment substitutes the phrase "Union territory or a local authority" for earlier wider terms that included "Governmental Authority" or "Government Entity" in items (iii), (vi), (ix), (x) and (vii) of the Description of Service column, and omits the entries in the Condition column against items (iii), (vi), (vii), (ix) and (x). The changes amend Notification No. 11/2017 and take effect from 1st January 2022.

GST rate amendment reclassifies low-value footwear into a different state tax slab and omits a prior entry.
The State Government amends Notification No.1/2017 by omitting serial number 225 from Schedule I (2.5% rate) and inserting a new serial entry in Schedule II (6% rate) for footwear of sale value not exceeding the specified low-value threshold per pair; the amendment supersedes Notification No.14/2021 and is effective from 1st January 2022.

InvIT filing fee framework: privately placed offers must pay non-refundable filing fees based on issue size at filing.
The substituted Schedule II provision requires that a privately placed Infrastructure Investment Trust shall pay non-refundable filing fees calculated as a percentage of the total issue size, including any green shoe option, at the time of filing the draft placement memorandum or letter of offer with the Board, with differentiated rates for initial offers and rights issues.

FEMA approval declaration required in share transfer form; transferee must state whether approval is needed and enclosed.
Amendment requires insertion of a declaration into Form No. SH-4 whereby the transferee must state either that government approval under the Foreign Exchange Management (Non-debt Instruments) Rules is not required prior to transfer, or that such approval is required, has been obtained, and is enclosed.

GST e-invoicing threshold reduced under Uttarakhand rules, substituting the earlier turnover limit from fifty crore rupees to twenty crore rupees.
The Uttarakhand Goods and Services Tax Rules, 2017 were amended to revise the turnover threshold in the earlier notification. With effect from 1 April 2022, the words "fifty crore rupees" in the first paragraph were substituted with "twenty crore rupees". The amendment was made under sub-rule (4) of rule 48 on the recommendation of the Council.

Extension of import relaxation allows remaining permitted quantities to be imported under specified conditions and timelines.
Extension of import relaxation permits import of the remaining authorized quantity provided the Bill of Lading or Lorry Receipt is dated on or before 30th September, 2022 and customs authorise "Out of Charge" on such consignments by 31st December, 2022; imports remain restricted to specified ports and the Department of Animal Husbandry and Dairying must monitor cumulative quantities to prevent breach of the mandated total.

Rules of Origin set eligibility and documentary requirements for preferential trade under the India-UAE CEPA.
The Rules of Origin require that a product be wholly obtained in a Party or satisfy Product Specific Rules via tariff classification change or specified value addition tests calculated on FOB or Ex Works basis, with the last manufacturing step in the exporting Party. Proof of origin is provided by a paper or electronic Certificate of Origin, a digital certificate exchanged by mutual system, or an origin declaration by an approved exporter; certificates follow Annexure E, are valid for twelve months, and issuing authorities must retain supporting records for at least five years.

Exemption from Social Welfare Surcharge: specified goods' HS codes amended to align with the Finance Act, effective May.
Exemption from the whole levy of Social Welfare Surcharge is preserved by substituting HS codes in Notification No. 11/2018 Customs: 6204 44 00 6204 44 10, 6204 44 90 and 6211 43 00 6211 43 10, 6211 43 90, aligning tariff entries with the Finance Act, 2022; effective 1 May 2022 under Notification No. 24/2022 Customs.

HS code alignment updates customs notifications, revising tariff classifications and exemption entries to reflect recent legislative changes.
Amendments substitute, insert and omit specified HS code entries in the TABLES and APPENDIX of multiple customs exemption notifications to align those notifications with the Finance Act, 2022; the directions identify affected serial numbers and prescribe exact textual changes to column entries, descriptions and concessional rates where applicable, coming into force on the stated commencement date.

Preferential customs duty exemptions under India-UAE CEPA apply to specified goods, subject to origin proof and tariff quota conditions.
Customs duty exemptions are granted to specified goods imported into India from the United Arab Emirates to give effect to the first tranche of the India-UAE CEPA. Listed goods in Table I receive exemption from customs duty above prescribed rates, while goods in Table II receive exemption from customs duty above prescribed rates and, where applicable, from Agriculture Infrastructure and Development Cess above specified rates. Table III goods receive tariff rate quota treatment at in-quota duty and cess rates, subject to annexure conditions and proof of United Arab Emirates origin under the notified rules of origin.

Updated return procedure under section 139(8A): ITR-U enables filing and verification to revise income within prescribed period.
The amendment inserts Rule 12AC establishing the ITR-U as the mechanism for eligible taxpayers to furnish an updated return under section 139(8A), prescribing eligibility conditions, reasons for updating, filing modes (digital signature or electronic verification code), required form fields and computations for additional income, and vesting the Principal Director General/Director General of Income tax (Systems) with responsibility for procedures, formats, security, archival and retrieval standards for electronic submission and verification.

Exchange rate adjustment for South African Rand: revised import and export conversion rates take effect under customs notification.
Pursuant to section 14 of the Customs Act, 1962, Notification No.38/2022 substitutes serial No.15 in Schedule I of Notification No.34/2022-CUSTOMS (N.T.) to prescribe the rupee exchange rates for one unit of the South African Rand for imported goods and for exported goods; the amendment is effective from 30th April, 2022 and updates the Schedule I entries used for customs valuation.

Tariff valuation update: fixed USD values prescribed for specified imports including oils, metals and precious metals.
The Central Board of Indirect Taxes & Customs amends the non tariff notification by substituting Tables establishing fixed tariff values in USD for specified imports - edible oils, brass scrap, areca nut, and specified forms of gold and silver - with units of valuation indicated and explanatory notes delimiting certain silver and gold entries; the substituted tables replace the prior tables and take effect from the stated commencement date.

Import restriction imposed on specified precious metal HS codes, changing their import status from free to restricted immediately.
Import policy for ITC(HS) codes 71123000, 71129100, 71129200, 71129910, 71129920 and 71129990 under Chapter 71 of ITC (HS), 2022 has been amended: the import classification for these precious-metal items is changed from Free to Restricted with immediate effect under powers conferred by the Foreign Trade (D&R) Act, 1992 and the Foreign Trade Policy.

Regulatory applicability clarification: amendment rules apply to liquidations commencing after their commencement; prior processes follow earlier requirements.
Amendment inserts Explanations after regulations 2A, 21A and 31A clarifying that those regulations' requirements apply to liquidation processes commencing on or after the commencement of the 2019 amendment regulations, and inserts an Explanation after regulation 44 providing that for liquidation processes commenced prior to the 2019 commencement, the pre 2019 requirements of regulation 44 shall continue to apply; the 2022 regulations take effect on publication.

Name correction in anti-dumping notification updates exporter designation in the customs schedule to 'Co., Ltd.'.
Corrigendum to Notification No. 68/2021-Customs (ADD) amends the Table entry at Sl. No. 4, column (6), replacing "Granges Aluminium (Shanghai) Ltd." with "Granges Aluminium (Shanghai) Co., Ltd.", thereby correcting the listed exporter name in the anti-dumping notification.