GST rate amendment updates commodity descriptions and reallocates items across state tax schedules effective at year start.
Notification substitutes descriptive entries in the State GST rate schedules: Schedule I (2.5%) amends ethyl alcohol for blending supplied to oil marketing companies or petroleum refineries and specifies bran, sharps and other cereal/legume residues with stated exclusions; Schedule II (6%) clarifies fruit pulp/juice-based drinks excluding carbonated fruit beverages and adds mathematical/geometry/colour boxes; Schedule III (9%) amends denatured ethyl alcohol entries to exclude alcohol supplied for blending with motor spirit. The amendments take effect from the first day of January, 2023.

Tariff value fixation for specified edible oils, metals and areca nut updates customs import valuation from mid-January.
The Central Board of Indirect Taxes & Customs, exercising powers under section 14(2) of the Customs Act, 1962, substitutes TABLE-1, TABLE-2 and TABLE-3 of the principal Customs (N.T.) notification to fix tariff values (US$ per metric tonne or per unit) for specified goods-including various palm and soybean oils, brass scrap, areca nut, and specified forms of gold and silver-and declares the amendment effective from 14 January 2023.

Customs duty exemption for COVID-19 vaccine imports by government enables duty-free importation for public health response.
Notification exempts imports of COVID-19 vaccines from the whole of basic customs duty when imported into India by the Central Government or State Governments, covering goods under Chapter 30 classified as COVID-19 vaccines and justified on public interest grounds; the measure is temporally limited and applies only to imports effected by the specified government entities.

Appointed actuary governance mandates independent actuarial oversight, solvency controls, reserve certification, reporting, and escalation of insurance compliance failures.
Appointed actuary governance requires each International Financial Services Centres Insurance Office to appoint a qualified, independent actuary with relevant insurance experience and no conflicting role. The Appointed Actuary has access to necessary information, advises on pricing, solvency, reserves, investments, reinsurance and risk management, and certifies actuarial valuations and returns. The role includes reporting material legal, regulatory or professional-practice non-compliance to the Board and directly to the Authority. Actuarial reports must address assets, liabilities, capital adequacy, reserve methodology and estimate variability in accordance with applicable professional standards.

Insurance financial reporting requires separate funds, prescribed investment valuation, detailed disclosures, and annual audited reporting for insurance offices.
Registered International Financial Service Centre Insurance Offices must follow prescribed accounting and presentation requirements. Unincorporated offices use the accounting standards and accounting year of their parent entity; incorporated offices use ICAI standards subject to direct-method cash-flow reporting, mandatory segment reporting and non-application of the investment accounting standard. Financial statements require comparative information, disclosure of applicable standards, accounting policies and their changes, and USD reporting unless otherwise specified. Incorporated offices must submit annual reports containing governance, risk, audited financial, external audit and actuarial materials, while all offices must separately account for policyholders' and shareholders' funds.

Insurance premium payment rules permit specified payment methods and conditional risk assumption while requiring contractual terms and credit-risk controls.
IIOs may receive insurance premium through recognised banking and electronic instruments, bank guarantees, cash deposits, or other specified methods. Risk may be assumed, continued or terminated where premium is received, guaranteed, supported by an advance deposit, or governed by contractual or specified terms. Insurance contracts must state premium schedules, grace periods, consequences of non-payment, revival conditions, risk commencement and termination, and any premium payment warranty clause. Premium refunds must be paid directly to insured persons, while IIOs must maintain Board-approved credit-risk mitigation policies.

Insurance recordkeeping requires IIOs and IIIOs to preserve accessible data, support inspections, and meet information-production duties.
IIOs must adopt Board-approved record-maintenance policies covering electronic processing, data privacy and security, cybersecurity, systems security, backups, disaster recovery, business continuity, archival, and Risk Management Committee oversight. They must retain policy, claims and reinsurance records in secure electronically retrievable form at Indian data centres, review the policy annually, and preserve records for at least seven years or longer where applicable. Both IIOs and IIIOs must provide demanded records and information for investigation or inspection.

IFSC insurance investment governance requires asset-liability matching, investment-grade eligibility, concentration controls, risk monitoring, and ongoing reporting.
Every IIO must maintain a Board-approved investment policy, value assets and liabilities, preserve solvency, and hold investment assets at least equal to liabilities while matching their nature, duration, currency and uncertainty. Investment assets must generally satisfy investment-grade asset and sovereign-rating criteria, comply with asset-class and concentration limits, remain free from encumbrances, and be subject to independent due diligence, risk monitoring, internal controls, audits and prescribed reporting. Exceeding exposure limits or a downgrade below investment grade requires additional capital as specified.

Insurance product governance requires board-approved oversight, actuarial pricing, target-market testing, unique identification, and policyholder safeguards.
IIOs must operate a board-approved Product Oversight and Governance Policy for insurance product design, approval, monitoring, review, distribution and corrective action. Products must suit the target market, have actuarially certified rates, terms and conditions, undergo appropriate testing, and be supported by records and conflict-management measures. Direct-insurance policy wording must be submitted before marketing, and products may be suspended, modified or withdrawn if non-compliant or detrimental to prospects or policyholders. Every product requires a Unique Identification Number, while policy servicing must provide cancellation, grievance-management and electronic insurance policy safeguards.

GST rules amendment expands Aadhaar authentication, input tax credit reversal, and outward supply mismatch controls for registration and returns.
Amends the Andhra Pradesh Goods and Services Tax Rules, 2017 to revise registration procedures, Aadhaar authentication, credit reversal, outward supply mismatch intimation, refund documentation, appeal filing and withdrawal, and e-commerce reporting requirements. The changes introduce biometric-based Aadhaar authentication and document verification for specified registration applicants, extend physical verification provisions, and update cancellation forms. They also add mechanisms for reversal and re-availment of input tax credit, recovery of differential tax liabilities, revised invoice particulars for certain taxable services, expanded refund requirements for unregistered persons, and substantial restructuring of FORM GSTR-1 and related forms and tables.

Exemption scope clarified for renting of residential dwelling by proprietors; separate entry removed with retrospective effect.
The amendment inserts an explanation clarifying that the exemption for renting of residential dwelling applies where the registered person is a proprietor who rents the dwelling in his personal capacity for use as his own residence, and where the renting is on his own account and not that of the proprietorship concern. The amendment also omits entry 23A and provides that these changes are deemed to have come into force from the first day of January, 2023.

Amendment to GST notification: reclassification of certain essential oils expands scope to registered and unregistered persons.
Amendment substitutes Table entry 3A to list specified HS tariff codes and to enumerate essential oils other than citrus-peppermint and certain other mints-and stipulates applicability to any unregistered person and any registered person; the notification is deemed effective from January 1, 2023 and is made under the powers of sub section (3) of section 9 of the Haryana GST Act.

GST schedule amendment reclassifies animal and poultry feeds and adds pulse husk entries, altering taxable classification under SGST.
The notification substitutes the Schedule entry at serial number 102 to specify aquatic, poultry and cattle feeds and related items including grass, hay, supplements, wheat bran and de oiled cake (other than rice bran), and inserts a new serial 102C covering husk of pulses including Chilka and concentrates such as chuni/churi and Khanda, thereby amending tariff classifications under the SGST schedule and declaring the amendment operative from the notification's commencement date.

GST rate amendment: specified goods reclassified and schedule entries revised, changing tax treatment effective from start of year.
Amendment substitutes specified product descriptions in Haryana GST schedules to clarify treatment of ethyl alcohol supplied for blending with motor spirit, other denatured spirits, certain cereal and legume residues and concentrates, fruit pulp or fruit juice based drinks (distinguished from carbonated fruit beverages), and school stationery items; these substituted entries alter classification-based GST incidence across the applicable schedules and are declared effective retrospectively from the start of the year.

Senior management definition added to ICDR regulations, expanding disclosure obligations to key managerial personnel and senior management.
The amendment adds a defined concept of senior management to the ICDR Regulations-covering core management team members one level below top executives, functional heads, Company Secretary and CFO-and revises the Companies Act-based definition of key managerial personnel. It inserts "senior management" alongside "key managerial personnel" across regulation 2, regulation 163, and multiple items in Schedule VI (Parts A, B, B-1) and Schedule VIII, thereby broadening disclosure, management and organisational-structure references in offer-document and issuer reporting requirements.

GST rules amendment redefines Authority functions, substitutes duty language, and omits multiple procedural rules with retrospective effect.
The Fourth Amendment Rules, 2022 (effective 1 December 2022) omit rule 122, rules 124 and 125, rule 134 and rule 137; amend rule 127 by replacing the marginal heading "Duties" with "Functions" and substituting the duty phrasing with language that the Authority "shall discharge the following functions"; and substitute clause (a) in the Explanation after rule 137 to define "Authority" as the Authority notified under subsection (2) of section 171 of the Act.

Protected banking systems require written, role-based access authorisation for employees, vendors, consultants, regulators, auditors, and other stakeholders.
Axis Bank computer resources supporting core banking and specified payment, switching and interbank messaging systems, along with associated dependencies, are declared protected systems under section 70 of the Information Technology Act, 2000. Access is limited to written-authorised designated employees, need-based authorised managed service provider and third-party vendor personnel, and case-specific authorised consultants, regulators, Government officials, auditors and stakeholders.

Protected banking systems: access is limited to bank-authorised employees, vendors, and case-specific consultants, regulators, officials, auditors, and stakeholders.
Canara Bank's critical banking computer resources and associated dependencies are protected systems under section 70 of the Information Technology Act, 2000. Access is confined to bank employees with written authorisation, authorised contractual managed-service-provider or third-party-vendor team members requiring need-based access, and consultants, regulators, Government officials, auditors and stakeholders with case-specific written authorisation. Protected-system status takes effect upon publication in the Official Gazette.

Protected systems designation restricts access to authorised bank employees, vendors, and approved external stakeholders for critical banking infrastructure.
Kotak Mahindra Bank's critical computer resources, including core banking, payment, transfer, switching and interbank financial messaging systems, together with associated dependencies, are declared Protected Systems under section 70 of the Information Technology Act, 2000. Access is authorised only for writtenly authorised bank employees, need-based managed-service and vendor personnel, and case-specific consultants, regulators, Government officials, auditors and stakeholders. The designation takes effect upon publication in the Official Gazette.

Protected-system designation restricts access to critical email infrastructure only through written, need-based or case-specific authorisation.
Computer resources comprising the National Informatics Centre's email infrastructure, its Critical Information Infrastructure and associated dependencies are classified as protected systems under section 70 of the Information Technology Act, 2000. Access requires written authorisation for designated employees, need-based contractual service-provider or vendor personnel, and case-by-case authorised consultants, regulators, Government officials, auditors and stakeholders. The designation takes effect upon publication in the Official Gazette.