Shareholder eligibility expansion: substantial non individual public shareholders and promoter group entities recognised for contribution and lock in rules.
The ICDR amendments add non individual public shareholders holding at least five per cent. of post issue capital and entities forming part of the promoter group (other than promoters) to multiple contribution, lock in and holding period provisions; permit equity from conversion of fully paid compulsorily convertible securities held by specified holders to be treated as eligible where held for at least one year and converted before filing with full disclosure; shorten various procedural timelines from three working days to one working day and add "unforeseen" to refine such circumstances; omit several regulations; and incorporate the LODR regulation 30(11) framework to exclude price effects from material price movement when determining preferential and issue pricing, with technical changes to schedules on issue size disclosure in rupee value.

Market capitalisation applicability updated: annual ranking now determines regulatory obligations and phased cessation rules apply.
The amendments revise market capitalisation applicability by requiring year end ranked lists from stock exchanges, set commencement and cessation rules including a three year outside threshold test for removal of obligations, require newly covered entities to implement compliance systems and disclose the Business Responsibility and Sustainability Report, extend and remove various date references and phased triggers, mandate six month timelines to fill certain board vacancies requiring approvals, clarify board meeting intimation and material price movement disclosure rules, and impose a duty on promoters, directors, KMP and senior management to promptly respond to queries so the listed entity can disseminate disclosures.

GSTR-1 filing deadline extension for March 2024 revises outward supply reporting timelines under Andhra Pradesh GST rules.
Extension of the time limit for furnishing outward supply details in FORM GSTR-1 for the tax period March 2024 under the Andhra Pradesh Goods and Services Tax framework. The amendment inserts an additional proviso to the existing notification governing filing timelines and extends the due date for registered persons required to furnish returns under section 39(1), other than those covered by the specified proviso, to 12 April 2024.

Exchange rate determination for customs conversions sets official foreign currency rates for import and export valuation.
CBIC determines official foreign currency conversion rates for customs purposes under the authority of section 14 of the Customs Act, superseding the earlier notification, and prescribes separate rates for imported and export goods in two annexed schedules (unit rates in Schedule I and per 100 unit rates in Schedule II) effective from the notification's commencement date for use in customs valuation and related procedures.

Anti-dumping duty on pentaerythritol imposed; importers liable to specified per tonne rates with exchange rate conversion.
An anti dumping duty is imposed on pentaerythritol (tariff item 2905 42 90) for five years with specified per metric tonne rates in USD applied to defined origin/export permutations for China PR, Saudi Arabia and Taiwan; duty is payable in Indian currency using the Ministry of Finance exchange rate applicable on the bill of entry date.

Amendment of notification date: substituted 15th May while commencement remains from 1st April for Goa GST
Amendment substitutes in the earlier notification the words "1st day of April, 2024" in paragraph 4 with "15th day of May, 2024" under the powers of section 148 of the Goa Goods and Services Tax Act, 2017, on Council recommendation; the notification further states it shall come into force from the 1st day of April, 2024.

Tariff value fixation updated for edible oils, metals, areca nut, gold and silver; new customs values apply from the effective date.
The Central Board of Indirect Taxes & Customs, invoking section 14(2) of the Customs Act, 1962, substitutes TABLE-1, TABLE-2 and TABLE-3 of Notification No. 36/2001-Customs (N.T.) with updated US dollar-denominated tariff values for specified goods including edible oils, brass scrap, areca nut, and defined categories of gold and silver, with explanatory qualifications for particular entries; the amendment is administrative, alters the reference tariff values used for customs valuation, and takes effect on the stated commencement date.

Special Additional Excise Duty on petroleum crude amended to a revised rate; change takes effect in May.
Notification No. 14/2024-Central Excise amends notification No. 18/2022-Central Excise by substituting, against S. No. 1 in the Table, the entry in column (4) with "Rs. 5700 per tonne" for the Special Additional Excise Duty on production of petroleum crude; the amendment is made under the Central Excise Act and the Finance Act and is effective from 16th May, 2024.

Eligibility relaxation for Technical Member in GSTAT reduces required Group A service, retains overall gazetted service and experience.
Appointment of a Technical Member (State) to GSTAT Andhra Pradesh requires an officer not below Additional Commissioner level or equivalent not lower than First Appellate Authority, with twenty years of Group A service (or equivalent), subject to twenty five years' overall Gazetted Officer service, and at least three years' experience in administration of an existing law, GST, or state finance and taxation; the relaxation is valid for ten years.

Effective date amendment changes commencement from early April to mid-May under GST, adjusting the notification's operative date.
Amendment substitutes the commencement date in paragraph 4 of Notification No. 04/2024-State Tax by replacing "1st day of April, 2024" with "15th day of May, 2024." The amendment is made under section 148 of the Gujarat Goods and Services Tax Act, 2017 and the notification declares it shall come into force from the 1st day of April, 2024.

Proof of Principal Place of Business: electricity bill accepted as valid proof under state GST registration rules, effective June.
Amendment adds electricity bill details to FORM GST REG-01-requiring the name of the electricity distribution company and consumer account/number-and adds to the List of Documents that a copy of the electricity bill is acceptable proof of the principal place of business for state GST registration.

Commencement date amendment: substitution of April start with May fifteenth while retaining retrospective effect from April first.
The notification amends the prior notification dated 19 January 2024 by substituting the words "1st day of April, 2024" in paragraph 4 with "15th day of May, 2024". Despite this substitution, the notification is declared to be deemed to have come into effect from the 1st day of April, 2024.

Certification requirement for alternative investment fund managers: a key investment-team member must hold NISM AIF Managers certification.
At least one key personnel in the key investment team of the Manager of an Alternative Investment Fund must obtain the NISM Series XIX C Alternative Investment Fund Managers Certification Examination certification, pursuant to the applicable certification and AIF regulatory provisions; the notification takes effect on publication in the Official Gazette.

Commencement of AIF amendment: amendments to sub regulation of regulation 3 take effect on Gazette publication.
The Board appoints that the amendments to a specified sub regulation of regulation 3 in the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2023 shall come into force on the date of publication of this notification in the Official Gazette, pursuant to powers conferred by the governing statute.

Regulatory fee timing and turnover basis: exchanges must remit monthly fees; agricultural commodity derivatives carry a separate year end fee.
A recognised stock exchange must remit, within fifteen days from the end of each month, the regulatory amount in Part A of Schedule III based on its annual turnover for the financial year up to that month, after adjusting any regulatory fee already paid. "Annual turnover" excludes agricultural commodity derivatives. Separately, exchanges must pay, within fifteen days from the end of the financial year, a flat regulatory fee on the aggregate value of agricultural commodity derivatives. Related provisions replace quarterly references with monthly ones and omit the prior proviso, changing payment and reporting cycles to monthly.

Payment of annual charge: depositories must remit a monthly percentage of issuer custody fees to the Board under the prescribed schedule.
A depository must, within fifteen days from the end of each month, pay a percentage of the annual custody charges received from issuers during the month to the Board in the manner provided in Part B of the Second Schedule, with percentages set out in Part A.

Confidentiality Ring procedure updated to require affidavit undertakings and set strict timelines for access, inspection, and certified copies.
Amendments revise confidentiality provisions to require cogent reasons and self certification for confidentiality claims, mandate affidavit form undertakings by duly authorised parties, and establish a Confidentiality Ring procedure with specified application, undertaking, inspection and certified copy timelines, limited extensions for sufficient cause, and Commission discretion to extend timelines in exceptional cases; related inspection and certified copy provisions and inspection fees are amended for consistency.

Income exemption under section 10(46) extends tax-free treatment to specified Commission receipts subject to conditions.
Notification grants income exemption under clause (46) of section 10 to the Tamil Nadu Electricity Regulatory Commission for government grants, specified regulatory fees, penalties under the Electricity Act, and interest on bank deposits, subject to conditions: no commercial activity, unchanged activities and income nature across financial years, and filing of return as required under the Income-tax Act; the notification is made retrospectively applicable to assessment years relevant to financial years 2017-18 through 2021-22.

Import status for Yellow Peas: free import without MIP until 31 October 2024, subject to mandatory registration.
Imports of yellow peas under ITC (HS) Code 07131010 are 'free' without the MIP condition and without port restriction for consignments whose Bill of Lading is dated on or before 31st October 2024; consignments with Bills dated after that date shall be 'restricted' and prior pre-Notification 50/2023 import conditions will apply. All consignments dated on or before 31st October 2024 must be registered under the online Import Monitoring System.

Recovery of pecuniary loss and withholding gratuity permitted during continued disciplinary proceedings against current and former employees.
The amendments allow the Competent Authority to recover quantified pecuniary loss from amounts due and payable to an employee as well as from pay, ensure disciplinary proceedings begun while in service are continued and concluded after retirement/repatriation/completion of contract as if in service, introduce a procedure to deal with allegations of corrupt practice by former or departed employees (including acts amounting to criminal misconduct or improper motive), and permit withholding of gratuity during the pendency of proceedings under regulations 79 to 82, payable on conclusion subject to decisions and recoveries.