IFSC banking offices gain defined roles for administrative support, product marketing, data collection and outreach under specified conditions.
The amendments redefine a Banking Unit as a licensed financial institution undertaking permissible activities and introduce Global Administrative Offices and Representative Offices in IFSCs. A Global Administrative Office may coordinate operations or provide support services to a Parent Bank and its Group entities, subject to relevant foreign regulatory directions for activities outside the IFSC. A Representative Office may market financial products, collect data and conduct outreach operations. Parent Banks may establish these offices through a suitable mechanism subject to specified conditions.

Delegation of powers to Joint Commissioners for implementing time extension provisions under rule 96A(1), subject to conditions.
The Commissioner delegates to all Joint Commissioners of State Tax the powers and duties to carry out the purposes of clause (a) and clause (b) of sub rule (1) of rule 96A of the Maharashtra GST Rules, 2017, under sections 5(1) and 5(3) of the Maharashtra GST Act; the delegated powers remain subject to conditions and restrictions that the Commissioner may impose from time to time.

Exchange rate revision: Swiss franc customs rate amended, affecting import and export valuation for clearance and duty computation.
Amendment substitutes the Serial No.17 entry in Schedule I of Notification No.51/2022 CUSTOMS (N.T.) to revise the Swiss franc exchange rate table, specifying distinct rupee equivalents for imported goods and for exported goods; the Central Board issues this change under the Customs Act, to take effect on 30 June 2022 for customs valuation and related purposes.

Appellate authority for advance ruling constituted for GST; membership specified, including chief commissioners of central and state tax.
The State Government constitutes the Tripura Appellate Authority for Advance Ruling for Goods and Services Tax, specifying its membership as the Chief Commissioner of Central Tax and the Chief Commissioner of State Tax, and supersedes the earlier notification while fixing an operative commencement date.

International tax jurisdiction allocation expanded to centralise Delhi Chief Commissioner oversight of international and transfer pricing commissioners.
The notification designates a Chief Commissioner of Income-tax (International Taxation), Delhi and inserts a new serial allocating headquarters at Delhi with jurisdiction over specified Commissioner posts: three Commissioners (International Taxation) in Delhi, three Commissioners (Transfer Pricing) in Delhi, and one Commissioner (International Taxation and Transfer Pricing) in Kolkata; the amendment substitutes prior entries in Notification No. 54/2014 and becomes effective on publication in the Official Gazette.

Jurisdiction of Income tax authorities revised: headquarters assignments for Delhi and Mumbai redefined under section 120.
The notification, issued under section 120 of the Income-tax Act, substitutes Schedule-II of Notification No.70/2014 to reallocate Chief Commissioner (Central) headquarters and specify the Principal Commissioner/Commissioner of Income-tax (Central) postings for Delhi and Mumbai. The revised schedule lists the headquarters-to-posting mapping and takes effect from publication in the Official Gazette, with noted corrigenda adjusting specific Mumbai entries.

Arm's length price tolerance treats actual transaction price as ALP where deviation falls within prescribed limits for trading.
Where the difference between the arm's length price under section 92C and the actual transaction price does not exceed prescribed tolerance limits, the actual transaction price shall be deemed to be the arm's length price for the specified assessment period; a narrower tolerance applies to wholesale trading, which is defined by purchase-cost and average-monthly-closing-inventory conditions.

Exchange rate amendment for Turkish Lira updates customs valuation rules, altering import and export conversion rates.
The Central Board of Indirect Taxes and Customs, under section 14 of the Customs Act, 1962, substitutes serial No.18 in Schedule I of Notification No.51/2022 CUSTOMS (N.T.) to prescribe the rate of exchange of one unit of Turkish Lira equivalent to Indian rupees for imported goods and for exported goods, with the substitution taking effect from 29th June, 2022.

Interest waiver for e commerce operators: nil interest where GSTR 8 could not be filed due to portal glitch after tax deposit.
Notification under the Haryana GST Act sets the rate of interest to Nil for specified electronic commerce operators who, due to a portal technical glitch, could not file FORM GSTR 8 by the due date but had deposited the tax collected in the electronic cash ledger; the nil interest applies from the date of deposit until the date of filing the statement under sub section (4) of section 52.

Special Economic Zone area notification: additional land integrated into SEZ following statutory approval, increasing total notified area.
The Central Government, under 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, notifies addition of 1.5642 hectares to the IT/ITES sector SEZ of M/s. Persipina Developers Pvt. Ltd., listing eleven survey parcels in Village Bhokarpada that together total 1.5642 hectares and making the SEZ's total notified area 6.6042 hectares.

Special Economic Zone expansion approved, additional land notified increasing SEZ area under statutory powers and rules.
The Central Government has notified an additional area of 31.96 hectares to be included in the sector specific Special Economic Zone for Light Engineering Goods and Services at Banapur and Talbal Villages, Kukanur Taluka, Koppal District, Karnataka, following a proposal by M/s. Aequs SEZ Private Limited and prior approval, thereby increasing the total SEZ area to 84.04 hectares; the notification lists the specific survey numbers and parcel areas comprising the addition.

Concessional tax rate for brick supplies permitted where suppliers do not claim input tax credit or properly reverse it.
Intrastate supplies of specified bricks, blocks and roofing tiles are chargeable to state tax only up to a concessional 3% rate where the supplier has not availed input tax credit on goods or services used exclusively for those supplies, and where partial credits were availed they are reversed as if the supplies were exempt in accordance with subsection (2) of section 17 of the Central GST Act and related rules.

Sovereign wealth fund exemption specified, subject to ownership, reporting, audit and non borrowing compliance conditions.
Specification of Seventy Second Investment Company LLC as a specified person for exemption under the Income tax Act is conditional on ten requirements including continued Government of Abu Dhabi ownership and control, regulation under UAE/Abu Dhabi law, earnings credited to the Abu Dhabi government, prohibition on using loans or borrowings to make investments in India, vesting of assets in that government on dissolution, non participation in investee day to day operations, and compliance with filing, audit, quarterly reporting and segmented account maintenance; breach renders the fund ineligible.

GST notification amendment adds specific brick and tile goods to the taxable schedule, effective from April.
Amendment inserts four tariff entries into the principal GST notification under the proviso to subsection (1) of section 10: fly ash bricks or fly ash aggregate with ninety per cent. or more fly ash content and fly ash blocks; bricks of fossil meals or similar siliceous earths; building bricks; and earthen or roofing tiles, to be placed after serial number 3 in the Table. The amendment states that the notification shall come into force on the first day of April, 2022.

Amendment to State GST notification adds HSN entries for building and fly ash bricks, effective from April implementation.
Amendment inserts HSN-coded entries for fly ash bricks or fly ash aggregate with at least ninety percent fly ash content (including fly ash blocks), bricks of fossil meals or similar siliceous earths, building bricks, and earthen or roofing tiles into the Table of Notification No.10/2019-State Tax after serial number 3; the amendment is issued under section 23(2) of the Delhi Goods and Services Tax Act, 2017 and takes effect from the 1st day of April, 2022.

GST rate amendment reclassifies certain bricks and tiles into a higher tax schedule under Delhi SGST notification.
Amends the State GST rate notification by omitting specified serial numbers from the 2.5% Schedule and inserting specified entries into the 6% Schedule identifying fly ash bricks or fly ash aggregate with high fly ash content, bricks of fossil meals or similar siliceous earths, building bricks, and earthen or roofing tiles. The amendment takes effect from the notified commencement date and modifies the principal State Tax (Rate) notification accordingly.

One Time Settlement Scheme extends settlement options for legacy tax disputes, interest and penalty arrears, and specified pending proceedings.
The One Time Settlement Scheme, 2022 is extended to Luxury Tax, Entertainment Tax, RD Cess, Profession Tax, and Entry of Motor Vehicles into Local Areas tax disputes, requiring payment of 50% of balance tax. Pending Central Sales Tax demands involving unavailable statutory forms are treated as disputed demands in specified circumstances. Cases with only interest or penalty outstanding may be settled on payment of 15% of that balance. Specified pending proceedings are treated as disputed cases, while undisputed deferment cases receive waiver of interest.

Composition levy eligibility extends to specified fly ash products, building bricks, fossil-meal bricks, and earthen or roofing tiles.
Telangana SGST composition levy eligibility is extended by inserting specified goods into the notified table under the proviso to section 10(1) of the Telangana Goods and Services Tax Act, 2017. The added goods are fly ash bricks, fly ash aggregate containing at least 90 per cent fly ash, fly ash blocks, bricks of fossil meals or similar siliceous earths, building bricks, and earthen or roofing tiles. The amendment takes effect from 1 April 2022.

GST notification amendment adds specified brick and tile tariff entries, effective from the stated effective date.
The notification amends G.O. Ms. No. 103 by inserting, after serial number 3, new entries covering fly ash bricks or fly ash aggregate with ninety per cent or more fly ash content and fly ash blocks; bricks of fossil meals or similar siliceous earths (6901 00 10); building bricks (6904 10 00); and earthen or roofing tiles (6905 10 00). The amendment is made under powers conferred by the GST Act and takes effect on 1 April 2022.

Commencement date set: Assam GST amendments take effect on January first, with the notification deemed issued earlier.
The Governor, exercising the power under sub section (3) of section 1 of the Assam Goods and Services Tax Act, 2017, appointed 1 January 2022 as the date on which specified provisions and Schedule II of the Assam Goods and Services Tax (Amendment) Act, 2021 shall come into force, and the notification is deemed to have been issued on 21 December 2021.