TDS exemption for IFSC units: specified payments exempt from tax deduction subject to Form One filing and conditions.
No tax shall be deducted at source on specified payments to Units of an International Financial Services Centre where the payee claims deduction under the Section 80LA framework, provided the payee furnishes a verified statement cum declaration in Form No. 1 declaring the consecutive previous years for which the deduction is claimed; the payer shall stop deduction only after receipt of that form and must report all payments exempted from deduction in the prescribed statement. The relief applies only for the years declared in Form No. 1 and is subject to registration and regulatory definitions and secure data procedures to be prescribed by Income tax Systems authorities.

Consent-based information sharing through the Public Tech Platform for Frictionless Credit under GST notification framework.
The Governor has notified the Public Tech Platform for Frictionless Credit as the system through which information may be shared by the common portal on a consent basis under section 158A of the Uttar Pradesh Goods and Services Tax Act, 2017, read with the corresponding provision of the Integrated Goods and Services Tax Act, 2017. The platform is described as an enterprise-grade open-architecture IT system enabling digital access to information from multiple sources through a standard, protocol-driven, open and shared API framework.

Exchange rate determination: updated import and export conversion rates for specified foreign currencies effective 8 March 2024.
The Central Board of Indirect Taxes and Customs determines rupee-equivalent exchange rates for specified foreign currencies under section 14 of the Customs Act, 1962, to be applied for imported and exported goods with effect from 8th March, 2024, and supersedes the earlier notification except as to things done or omitted prior to supersession. The annexed schedules list separate rates for imported and export goods for each specified currency.

GST rate schedule amendment inserts millet based flour product entry with specified composition, effective from 20 October 2023.
The State Tax (Rate) schedule is amended by inserting tariff entry 94A under Tariff Code 1901 for a food preparation of millet flour in powder form containing at least 70% millets by weight, excluding pre packaged and labeled products. The insertion is made under section 11(1) of the Delhi GST Act and takes effect from 20 October 2023, amending Notification No. 02/2017 State Tax (Rate).

De-notification of Special Economic Zone reverses SEZ status so land can be repurposed for non SEZ IT infrastructure.
Rescission of the notification that had notified 1.51 hectares as a sector-specific IT/ITES Special Economic Zone at Sadamangala (Whitefield), Bengaluru, is made following the applicant's proposal, the Development Commissioner's recommendation, and the State Government's No Objection Certificate; the de-notified land will be used for IT infrastructure outside the SEZ, and the earlier notification is rescinded subject to actions already taken under it.

Rescission of SEZ notification: previously notified IT/ITES zone de notified and land cleared for non SEZ IT infrastructure.
Central Government rescinds the prior SEZ notification under the first proviso to rule 8 of the Special Economic Zones Rules, 2006, following the developer's proposal to de-notify the entire notified area, receipt of a State No Objection Certificate and a recommendation from the Development Commissioner; the rescission does not affect actions done or omitted before it, and the land will be repurposed for IT infrastructure outside the SEZ framework.

SEZ de-notification under statutory rule reduces the notified area after state approval and administrative recommendation.
The Central Government, under the first proviso to sub-section (1) of section 4 of the Special Economic Zones Act, 2005 and rule 8 of the Special Economic Zones Rules, 2006, hereby de-notifies specified land parcels aggregating 532.17 hectares from the multi-product SEZ proposed by M/s. Andhra Pradesh Industrial Infrastructure Corporation Limited, resulting in a revised SEZ area of 500.10 hectares, with survey numbers and areas for the de-notified parcels specified and State approval and Development Commissioner recommendation recorded.

Online money gaming taxation gets expanded under Tripura GST amendments, with platform operators and offshore suppliers brought within registration and supply rules.
The Tripura State Goods and Services Tax Act, 2017 is amended to align with Central GST changes and to address online gaming and specified actionable claims, with retrospective effect from 1 October 2023. The amendments define online gaming, online money gaming, specified actionable claims, and virtual digital asset; deem persons organising or arranging such supplies, including platform operators, to be suppliers; require registration for persons supplying online money gaming from outside India to India; and substitute "specified actionable claims" in Schedule III. The earlier Ordinance is repealed, while actions taken under it are preserved.

Settlement mechanism: establishes procedural filing, timelines, and a discounted penalty framework for resolving competition law allegations.
Regulations create a procedural framework for settlement of inquiries under section 26(1) for alleged violations of section 3(4) or section 4, requiring a detailed Settlement Application with disclosures, settlement proposals, undertakings as per Schedule I, and prescribed non refundable fees; a complete application is considered within set timelines, during which the inquiry is kept in abeyance, the Commission computes a Settlement Amount (base guided by Penalty Guidelines with a 15% settlement discount), and the applicant must accept and pay within prescribed periods or face rejection and resumption of the inquiry.

Commitment procedure enables enterprises to offer binding remedies that may conclude commission inquiries, subject to monitoring and revocation.
Regulations prescribe a procedure for enterprises facing an inquiry under section 26 to submit commitment applications offering measures to address alleged contraventions; they set application contents, timelines for filing and curing defects, application fees, requirements for a non-confidential summary, and mandated undertakings and waivers. The Commission places complete applications for consideration, invites comments and may keep inquiries in abeyance while evaluating commitments; acceptance yields a final binding commitment order that is not a finding of contravention, while revocation for non-compliance or nondisclosure can restore or initiate inquiries and attract legal costs.

Determination of turnover or income: rules clarify calculation, documentation and foreign currency conversion requirements for assessments.
Turnover or income for enterprises is the value of sales and other operating revenue per audited financial statements, excluding other income, indirect taxes, trade discounts and intragroup sales; consolidated audited statements govern where required, otherwise certification by a statutory auditor or Chartered Accountant with an authorised affidavit suffices, and foreign currency amounts must be converted to Indian Rupees using average RBI reference rates certified by a Chartered Accountant with an affidavit.

Monetary penalty framework ties levy to average turnover or income, adjusted by aggravating and mitigating factors for deterrence.
For enterprises under Section 27(b), the Commission begins with an amount up to thirty percent of the average relevant turnover or average income (generally over three preceding years), subject to the legal maximum, and adjusts that amount based on factors including nature and gravity of contravention, industry impact, duration and role, coercion, repetition, admissions, cooperation, voluntary cessation, and compliance programmes; audited financial statements or certified accounts support calculations, global turnover may be used if relevant turnover cannot be determined, and the Commission may further increase the penalty for deterrence within legal limits.

Export permission for onions through a cooperative export agent enables shipments to specified countries under foreign trade rules.
The Central Government authorizes export of onions (HS code 0703 10 19) to three specified countries only when routed through National Cooperative Exports Limited (NCEL). The notification relies on powers under the Foreign Trade (Development & Regulation) Act and the Foreign Trade Policy, 2023, and implements prior notification provisions. Authorization is destination- and channel-specific, with NCEL designated as the exclusive exporter for the allocated shipments to the named countries.

Import restriction on premium duck meat applies to supply for hotels and restaurants; other duck imports remain free.
Imports under ITC(HS) codes 02074200 and 02074500 are generally Free, but importation of Premium Duck Meat as defined by the DAHD order and the Department of Revenue customs notification for supply to hotels and restaurants is classified as Restricted.

Tariff value fixation updated for edible oils, brass scrap, areca nut, gold and silver; new tariff tables substituted.
Amendment substitutes TABLE-1, TABLE-2 and TABLE-3 in the principal customs notification to fix or confirm tariff values in US dollars for specified imported goods, including edible oils, brass scrap, areca nut, and defined categories of gold and silver; enacted under section 14(2) of the Customs Act, 1962 and effective from the stated commencement date.

Customs duty reduction on frozen duck meat permitted where importers produce specified sanitary and eligibility certificates.
Amendment inserts a tariff entry for frozen meat and edible offal of ducks attracting a Basic Customs Duty of 5% and adds condition 116 requiring, at import, (a) a sanitary certificate from the designated officer per the Department of Animal Husbandry and Dairying O.M. confirming compliance with specified parameters, and (b) either a Ministry of Tourism certificate confirming three-star-or-above hotel status or a valid restricted import authorisation from the Directorate General of Foreign Trade.

Commencement of Competition Amendment provisions appointed to come into force on March sixth by central notification.
The Central Government, invoking sub section (2) of section 1 of the Competition (Amendment) Act, 2023, appoints 6 March 2024 as the date on which sections 20, 35 and 40 of the Act shall come into force, by notification S.O. 1065(E) issued by the Ministry of Corporate Affairs dated 5 March 2024.

GST rate notification amendment adds Rab, other than pre-packaged and labelled, to the Assam tax schedule.
Assam GST rate notification was amended to insert a new entry for Rab, other than pre-packaged and labelled in the relevant tax schedule. The amendment modifies the existing notification framework by adding the specified commodity to the schedule and applies from the notified effective date under the Assam Goods and Services Tax regime.

GST rate schedule amendment revises jaggery entries and adds pencil sharpeners to the tax classification list.
Amends the Assam Goods and Services Tax rate notification by revising the Schedule I entry for jaggery and allied products, inserting a new Schedule II entry for pencil sharpeners, and making a corresponding exclusion in Schedule III. The amendment covers jaggery of all types, including cane jaggery, palmyra jaggery, khandsari sugar and rab, when pre-packaged and labelled, and is stated to take effect from 1 March 2023.

Tax audit reporting: enhanced Form 3CD/3CEB disclosures for transactions under new tax regimes and IFSC deduction cessation.
Amendments expand audit and transfer pricing reporting: Form 3CD updates references to 115BAD/115BAE and 44ADA, prescribes assessment-year-limited written down value adjustments under provisos to sections 115BAA/115BAC/115BAD/115BAE, inserts new table entries and broadens non-allowable expenditure definitions to include offences, penalties and compounding abroad, and corrects payer to payee. Form 3CEB adds a specified domestic transaction disclosure for transactions with persons under sub-section (4) of section 115BAE requiring party identification, amounts (books and arm's length) and pricing method. Form 65 adds IFSC unit verification and queries on cessation of section 80LA deduction.