Interest-bearing accounts for margin posting allowed for non-residents in local or foreign currency for permitted derivative contracts.
An authorised dealer in India may allow a person resident outside India to open, hold and maintain an interest-bearing account in Indian rupees and/or foreign currency for the purpose of posting and collecting margin in India for a permitted derivative contract entered into by such person under the Margin for Derivative Contracts Regulations, 2020, subject to directions issued by the Reserve Bank.

GST notification amendment shifts the operative date to 15 May 2024 while deeming effect from 1 April 2024.
The Uttar Pradesh GST notification amends an earlier notification by substituting the operative date in paragraph 4 from 1st April, 2024 to 15th May, 2024. The amendment is stated to be deemed to have come into force with effect from 1st April, 2024.

Exemption from IGST on gold and silver imports updates eligible bank lists for a specified validity period.
Amendment substitutes the Annexure entries for List 34A and List 34B in the Table to Notification No.50/2017 Customs to identify banks eligible for the exemption from IGST on imports of gold and silver under S. No. 359A; List 34A names eleven banks and List 34B names three banks, effective from 1 April 2024 to 31 March 2025.

Export permission for Non-Basmati white rice to Mauritius via National Cooperative Exports Limited under foreign trade provisions.
Permission is granted for the export of Non-Basmati white rice to Mauritius through National Cooperative Exports Limited (NCEL) under the Foreign Trade (Development & Regulation) Act, 1992 and the Foreign Trade Policy, 2023, specifying the commodity by HS classification and allocating a defined export quantity for the named destination.

GSTR-1 filing deadline extension: outward-supplies return for March 2024 extended to April 12, effective April 11.
Extension of time for furnishing details of outward supplies in FORM GSTR-1 for registered persons required to furnish return under the primary filing provision, excluding those under the proviso, for tax period March 2024, is extended until the twelfth day of April, 2024; the amendment is deemed to have come into force from the eleventh day of April, 2024.

Effective date substitution alters the operative start of a state GST notification and its applicability.
The State Government amends an earlier State Tax notification by substituting the operative date in paragraph 4 with a later calendar date, effected by a notification dated 6 May 2024. The notification further states that the amended instrument shall come into force from the 1st day of April, 2024, thereby both altering the specified effective date in the prior notification and setting an express commencement provision under the State's delegated legislative authority.

Onion export policy changed to free, subject to a Minimum Export Price condition, effective immediately under foreign trade rules.
Export classification for onions is amended from prohibited to free, conditioned by imposition of a Minimum Export Price (MEP). The amendment, issued under the statutory foreign trade powers and relevant foreign trade policy provisions, indicates immediate effect and continues until further notice, and applies to the identified tariff line for onions, making the MEP the operative export compliance requirement.

Implementation timeline extended for manufacturers under GST; commencement remains backdated to the original effective date.
Amendment replaces the original operative commencement date in paragraph 4 of Notification No. 198-F.T., extending the implementation deadline for manufacturers of specified goods to a later date. The amendment is declared deemed to have come into force from the original prescribed commencement date, thereby maintaining retrospective effect of the notification while substituting the implementation timeline for compliance under the West Bengal Goods and Services Tax framework.

Waiver of interest for delayed GSTR-3B filings due to portal glitch when electronic ledgers showed sufficient balance.
Nil interest is notified for listed registered persons who failed to file FORM GSTR-3B by the due date due to a portal technical glitch despite having sufficient balance in their electronic cash or credit ledger or having deposited required amounts through challan; the waiver covers the period from the due date of filing to the actual date of furnishing the return.

Export duty on onions introduced, altering export controls and customs obligations for outbound shipments under amended tariff notifications.
The notification amends multiple customs tariff notifications to insert Bengal gram (desi chana) as an item with nil import duty, imposes an export duty of forty percent on onions, and extends an exemption condition for Yellow Peas where the bill of lading is issued on or before 31.10.2024; these changes to notifications 27/2011, 48/2021, 49/2021 and 64/2023 take effect from 4 May 2024.

Exchange Rate Determination: prescribed conversion rates for specified foreign currencies for import and export goods.
The Central Board of Indirect Taxes and Customs, under powers conferred by the Customs Act, prescribes the rate of exchange for specified foreign currencies into Indian rupees for import and export goods, superseding an earlier notification; rates are set in two schedules distinguishing per-unit and per-one-hundred-unit conversions and separate entries for imported and export goods.

Aadhaar authentication permitted for a reporting entity after satisfaction of statutory privacy and security standards, enabling authentication under PMLA.
Permission is granted to 360 ONE Distribution Services Limited to perform Aadhaar authentication for the purposes of section 11A of the Prevention of Money laundering Act, 2002, on the basis that the reporting entity will comply with the privacy and security standards under the Aadhaar Act, following consultation with the Unique Identification Authority of India and the appropriate regulator.

Cross-border margining: authorised dealers may post and collect derivatives margin internationally under Reserve Bank directions, including for branches.
The amendment recognises credit derivative contracts under the Master Direction on Credit Derivatives and substitutes Regulation 4 to permit authorised dealers to post and collect margin and receive/pay interest in India and abroad for permitted derivative contracts with non-residents, between authorised dealers (where one is a foreign bank branch), and for overseas branches and IFSC Banking Units, subject to terms, conditions and directions issued by the Reserve Bank.

Drawback Schedule amendment updates chapter classifications and tariff rate entries, altering duty drawback applicability and calculation.
The notification inserts a definition that "counts" in Chapter 52 means "counts in New English (Ne)", substitutes revised schedule entries for Chapters 3 and 16 with detailed tariff lines and drawback rates for numerous fish and prepared fish/meat products, and amends and inserts multiple tariff items and numerical drawback entries across other chapters. The changes alter unit descriptions, product subheadings and drawback percentages and take effect on the stated commencement date.

Tariff valuation updated for edible oils, metals and areca nut; new customs values set and notified.
The Central Board of Indirect Taxes & Customs substitutes revised Tables in the principal valuation notification to fix customs tariff values for specified edible oils, brass scrap, specified forms of gold and silver, and areca nuts, establishing unit tariff values in US dollars for valuation purposes; the amendment takes effect from the first day of May, 2024.

Special Additional Excise Duty reduction on petroleum crude alters tariff entry, effective from the notified commencement date.
Amends the table of the principal notification to substitute the entry in column (4) against the specified serial number with a revised per tonne Special Additional Excise Duty rate on petroleum crude, enacted under Central Excise Act powers read with the Finance Act and made effective from the notified commencement date.

Administration of specified intermediaries: recognised stock exchanges may perform supervision with Board approval and specified conditions.
Administration and supervision of specified intermediaries may be carried out by a recognised stock exchange with the approval of the Board, and only on such terms, conditions and to such extent as the Board may specify, thereby permitting conditional delegation of oversight functions while preserving Board control.

Enlistment requirement: research analysts must be enlisted with a recognized supervisory body, affecting registration and fees.
SEBI may recognize a body or body corporate to administer and supervise research analysts and may require that no person act as a research analyst unless enlisted with that recognized body, with specified bye-laws applying to such enlisted analysts; existing analysts and certain applicants are deemed enlisted from the date of recognition. The Second Schedule prescribes application, registration and five-year renewal fees for individuals, partnership firms, proxy advisory firms and body corporates, and permits SEBI to specify payment modes and related conditions.

Recognition of supervisory bodies conditions investment adviser registration; enlistment obligation and deemed membership follow under amended regulations.
Amends the Investment Advisers Regulations to permit the Board to recognise a body or body corporate to administer and supervise investment advisers and to require enlistment with such recognised bodies as a condition to act as an investment adviser; the Board may make specified bye-laws or articles applicable. Existing advisers and certain applicants are deemed enlisted from the date of recognition. The Regulations commence on the ninetieth day from Gazette publication and include a savings provision treating past or ongoing actions regarding membership of recognised bodies as taken under corresponding regulatory provisions.

Appointment of Common Adjudicating Authority to adjudicate provisional assessment notices in SVB case against M/s Tyco Fire & Security India.
A Common Adjudicating Authority is appointed under statutory powers to exercise the functions of various named adjudicating officers for adjudication of provisional assessment-related show cause notices in SVB proceedings against M/s Tyco Fire and Security India Pvt. Ltd; the notification lists the specific notices, original adjudicating authorities and the officer appointed to act as the Common Adjudicating Authority.