Approval of institution for scientific research confers tax-recognised university status under relevant provision, effective retrospectively for recent assessment years.
Central Government approval is granted to National Forensic Sciences University, Gandhinagar (PAN AAALN3742Q) as a university, college or other institution recognised for scientific research under the income-tax framework read with the specified rules, qualifying the institution for tax treatment applicable to research entities. The notification is effective retrospectively from its publication in the Official Gazette and applies to the assessment years identified in the notification; the explanatory memorandum certifies no person is adversely affected by retrospective effect.

Scientific research approval grants institute status enabling tax deduction eligibility for specified assessment years under income tax law.
Approval is granted to Sardar Vallabhbhai National Institute of Technology, Surat as a 'University, college or other institution' for Scientific Research under clause (ii) of sub section (1) of section 35 of the Income tax Act read with Rules 5C and 5E of the Income tax Rules by Notification No. 30/2024 dated 13 March 2024; the notification is effective from publication, operates retrospectively to the previous year 2023-24, and is applicable for the specified assessment years 2024-25 to 2028-29.

Scientific research approval under section 35 grants IIT Kharagpur notified status for research deduction across specified assessment years.
Approval of Indian Institute of Technology, Kharagpur as a notified 'University, college or other institution' for Scientific Research under clause (ii) of sub section (1) of section 35, read with Rules 5C and 5E of the Income tax Rules, 1962, with effect from the date of publication and retrospective applicability to the previous year 2023-24, covering assessment years 2024 25 to 2028 29.

Inland Container Depot designation: Bihta authorised for unloading imported goods and loading export consignments under customs notification.
The Central Board of Indirect Taxes and Customs amends Notification No. 12/97 Customs (N.T.) by inserting a new Table entry (serial 2A) designating Bihta, Bihar as an Inland Container Depot authorised for the unloading of imported goods and the loading of export goods, thereby adding Bihta to the list of locations permitted to perform those ICD functions under the notification.

Customs tariff amendment adds classifications for X ray machine components, enabling specified concessional import treatment for medical equipment.
This notification amends Notification No. 50/2017-Customs by substituting the item (e) description against S. No. 563A to specify a High Frequency X Ray Generator (9022 14 10) and by inserting S. Nos. 563B, 563C and 563D to add: a High Frequency X Ray Generator (>25KHz, >=500mA) for manufacture of X ray machines (9022 14 10 referring to 9022 14 20/90); specified parts including Vertical Bucky, X Ray Tube Suspension and X Ray Grid (9022 90 90); and a Multi Leaf Collimator/Iris (9022 29 00 or 9022 90 90). Each inserted entry records a concessional tariff entry of 10%. The amendment substitutes item (e) at S. No. 564 similarly and commences on 1 April 2024.

Import duty increase for specified X ray tube tariff items takes effect under statutory amendment to the First Schedule.
The Central Government has amended the First Schedule to the Customs Tariff Act by substituting the basic duty entry for specified X ray tube tariff items in Chapter 90 with a fifteen percent rate; the notification invokes statutory powers to increase duty where immediate action is necessary and makes the amendment effective from 1 April 2024.

Customs exemption for gold imports by Reserve Bank removes customs duty and related cess on specified tariff heading.
Exemption exempts gold falling under Customs Tariff Heading 7108 from the whole of customs duty and from the Agriculture Infrastructure and Development Cess when imported into India by the Reserve Bank of India, invoked under powers in the Customs Act, 1962 and the Customs Tariff Act, 1975 as necessary in the public interest.

RODTEP implementation expands export support to eligible AA holder and EOU manufactured products, effective after customs systems enablement.
RoDTEP support is extended to products manufactured by AA holders (excluding Deemed Exports) and Export Oriented Units for 166 specified tariff lines listed in the Annexure. The Central Government notifies that entitlement to this support will be available once requisite technical enablement at the Customs Automated System is completed, thereby operationalising RoDTEP coverage for the designated tariff items under the Foreign Trade Policy.

Export condition for Chitosan products: shipments to the European Union require consignment-wise clearance and joint health certificate.
Export of Chitin and Chitosan products under ITC HS classification 39139090 is 'Free' but exports to the European Union require a consignment-wise Shipment Clearance Certificate specifying exporter, plant, IEC, product, quantity, invoice and port details, and a post-shipment consignment-wise Health Certificate to the buyer detailing HS code, packaging, origin, destination, vessel and departure date, and health requirements, issued jointly by the export promotion body and the competent animal health/quarantine authority.

Export policy change: human biological samples free for export subject to regulatory NOC from relevant authorities.
Amendment designates exports of items containing human biological materials as free for export subject to a regulatory No Objection Certificate. Items governed by the Drugs and Cosmetics regulatory framework require a NOC from the drug regulator; items not so governed require a NOC from the national medical research or health research authority. The change conditions export eligibility on prior regulatory clearance and expressly includes human blood, antisera, immunological products and related items under the chapter.

Exemption from mandatory Quality Control Orders permits import of inputs for export production under conditions preventing DTA clearance.
Imports of inputs subject to mandatory Quality Control Orders may be exempted for Advance Authorisation holders, EOUs and SEZ units subject to conditions: specific endorsement on authorisation or undertaking at import; use solely in manufacture of export products; no DTA clearance permitted; unutilised imports must be destroyed under authority or re exported and attract effective MFN duty with interest plus a composition fee; exemption limited to physical exports and governed by para 2.03(c) and Appendix 2Y of FTP 2023.

RoDTEP support extended to exports under Advance Authorisation and Export Oriented Units, with valuation cap rules.
Exports of goods notified in Appendix 4R, exports under Advance Authorisation (excluding Deemed Exports) and goods manufactured by or exported by EOUs as notified in Appendix 4RE are made eligible for RoDTEP duty credit at the rates and caps in the respective Appendix; the duty credit value for calculation shall be the declared export FOB value or up to 1.5 times the market price, whichever is less. Cross references are amended to cite Appendix 4R or 4RE as applicable, and specified TABLE entries are omitted.

Countervailing duty on pneumatic radial tyres extended, maintaining the levy while review and statutory procedures continue.
The Central Government amends the principal notification to extend the operation of the countervailing duty on specified pneumatic radial tyres originating in or exported from China PR, inserting a paragraph that the countervailing duty shall remain in force up to and inclusive of 23rd July, 2024, unless revoked, superseded or amended earlier, pursuant to powers under the Customs Tariff Act and the procedural rules governing countervailing duty review proceedings.

Index Provider registration and governance framework mandates methodology transparency, conflict of interest controls and periodic independent audits.
These Regulations require registration of Index Providers that administer Significant Indices of securities listed in India, impose eligibility conditions (corporate form, net worth, infrastructure, fit-and-proper status) and mandate submission of independent assessments to IOSCO Principles. Registered Index Providers must implement governance (a separate oversight committee), conflict-of-interest policies, documented Methodology and data controls, maintain audit trails and records, publish disclosures and auditor reports, appoint a compliance officer, and submit periodic reports to the Board; the Board retains supervisory, audit and enforcement powers.

SM REIT regulatory framework establishes tailored registration, disclosure, leverage and governance rules protecting unitholders.
Creates a dedicated regulatory regime for Small and Medium Real Estate Investment Trusts (SM REITs) with definitions, registration in prescribed forms by an investment manager, eligibility criteria including net worth and experience, and mutatis mutandis application of REIT rules. Establishes scheme-level structures via wholly owned SPVs, mandatory draft scheme offer document filings through merchant bankers, asset and investor thresholds for offers, restrictions on investments to completed revenue-generating properties, leverage limits with credit rating and unitholder approval triggers, valuation and disclosure obligations, and detailed unitholder rights, lock-in and post-issue responsibilities.

RoDTEP extended to Advance Authorisation holders, EOUs and SEZ units with Appendix 4RE and notified rates.
RoDTEP is extended to products manufactured by Advance Authorisation holders (except Deemed Exports), Export Oriented Units and SEZ units, with eligible items, rates and per unit caps for these categories listed in a new Appendix 4RE on the DGFT portal. Implementation for AA holders and EOUs runs from 11.03.2024 to 30.09.2024; implementation for SEZ units commences upon ICEGATE IT integration (expected 01.04.2024) and, once operative, continues until 30.09.2024. Revised RoDTEP rates for 25 HS codes in Appendix 4R are also notified, and the scheme validity is extended to 30.09.2024.

Customs appointment: Bhopal airport designated for unloading and loading of baggage under notification amendment.
Amendment inserts Bhopal airport in the Table to Notification No. 61/94 Customs (N.T.) for the State of Madhya Pradesh, designating the airport specifically for unloading and loading of baggage under the powers conferred by the Customs Act.

Rescission of prior tax notification alters applicability of the earlier directive, preserving actions taken before rescission.
Rescinds Government of Jammu and Kashmir Finance Department notification S.O. No. 546/2023-Tax dated 19th October 2023 under the Jammu and Kashmir Goods and Services Tax Act, 2017, on Council recommendation, except as respects things done or omitted before such rescission; the rescission is deemed to come into force from 1st day of January, 2024.

Combination exemption for small acquisitions, control changes and mergers: limited-threshold transactions temporarily exempted from notification.
Central Government exempts acquisitions, control acquisitions over similar businesses, and mergers or amalgamations from Section 5 where asset value or turnover of the combination does not exceed specified India thresholds; the exemption lasts two years. For partial transfers, assets and turnover attributable to the transferred portion are used; asset value is the prior financial year's book value reduced by depreciation and includes specified intangibles, and turnover must be certified by the statutory auditor from the last audited accounts.

Competition thresholds increased for asset and turnover values, extending merger control applicability effective from notification.
Central Government, under sub section (3) of Section 20 of the Competition Act, 2002, has enhanced the value of assets and value of turnover for purposes of section 5 by one hundred and fifty percent, based on the wholesale price index and exchange rate of the rupee, effective from the date of publication of the notification in the Official Gazette.