Import/export procedure expansion: aircraft engines now covered under IFSC unit rules alongside aircraft in SEZ regulations.
The amendment substitutes the word "aircraft" with "aircraft or aircraft engine" in the rule governing the procedure of import or export or procurement from or supply to the Domestic Tariff Area by units in the International Financial Services Centre, thereby subjecting aircraft engines to the same procedural framework as aircraft.

Jurisdiction under Section 120 redefined to specify territorial districts and an additional state, altering tax authority coverage.
The Central Board of Direct Taxes amends Schedule II under Section 120 of the Income tax Act by removing the coterminous reference in one entry and substituting, for another entry, a specific list of revenue districts together with the State of Uttarakhand as the territorial limits of the Directorate's jurisdiction; the amendment is effective from 6th June, 2024.

Exemption under section 10(46) for Real Estate Appellate Tribunal Punjab: specified income exempt subject to prescribed conditions.
The Central Government notifies Real Estate Appellate Tribunal, Punjab as a 'body' for the specified exemption, covering fees/charges/fines under the Real Estate (Regulation and Development) Act and Punjab rules, government grants, and interest on bank deposits; the exemption is subject to conditions that the Tribunal shall not undertake commercial activity, its activities and the nature of specified income remain unchanged during the financial years, and it files income-tax returns in accordance with the prescribed filing provision, effective for assessment years 2023-2024 to 2027-2028.

Exchange Rate Determination under Customs Act sets rupee conversion benchmarks for imports and exports.
The Central Board of Indirect Taxes and Customs determines distinct rates of exchange for conversion between specified foreign currencies and Indian rupees to be applied for imported and export goods, as set out in Schedule I (per unit) and Schedule II (per 100 units). The Notification, issued under the Customs Act authority, supersedes an earlier notification except as to prior actions and establishes the operative conversion benchmarks for customs valuation and related purposes.

QCO exemption enables imports under Advance Authorisation, EOU and SEZ with a restricted export obligation period after clearance.
Enables exemption from mandatory Quality Control Orders for inputs imported by Advance Authorisation holders, EOU and SEZ units, subject to FTP and Handbook of Procedures. The Export Obligation period follows the Handbook but is expressly restricted to a limited period from the date of clearance of import consignments for textile and chemical products, and the Department of Chemicals & Petro-chemicals is accordingly included in the FTP appendix.

Appointment of Common Adjudicating Authority to consolidate and finalize provisional customs assessment proceedings.
Appointment of a Common Adjudicating Authority to consolidate and finalize provisional assessment proceedings against M/s ADT India Pvt. Ltd., with an officer appointed to exercise the powers and duties of the original proper officers named in the show cause notices issued from Air Cargo Complex (Import) New Delhi and Air Cargo Complex, Mumbai, under the relevant provisions of the Customs Act, 1962.

Export timeline extension: authorised export period for broken rice via NCEL to specified markets extended under FTP provisions.
The Central Government, under the Foreign Trade (Development & Regulation) Act and Foreign Trade Policy, amends the earlier notification to extend the authorised export period for the quantity of Broken rice already notified for export through the National Cooperative Exports Limited (NCEL) to the specified recipient countries. The extension is limited to the temporal window for those notified shipments; all other provisions of the earlier notification remain unchanged.

Notification amendment adjusts substituted effective date for a GST notification while affirming retrospective commencement under statutory authority.
Amendment under Section 148 of the Jammu and Kashmir Goods and Services Tax Act substitutes the date specified in paragraph 4 of the prior notification with a later calendar date and provides that the notification is to be deemed to have come into force from the earlier calendar date despite that substitution.

Lower deduction reporting: Form 27Q requires marking 'P' where section 197A(1F) notification reduces or eliminates TDS.
Amendment inserts Note 7A in the Verification notes of Form No. 27Q directing filers to write "P" when lower deduction or no deduction applies by virtue of a notification issued under sub-section (1F) of section 197A, standardizing the reporting of notification-based reductions in TDS.

Extension of implementation timeline: Kerala SGST notification's commencement date amended to alter rollout schedule.
Amendment substitutes the date in paragraph 4 of the earlier notification, replacing "1st day of April, 2024" with "15th day of May, 2024", thereby altering the implementation timeline. The amendment is made under section 148 of the Kerala State Goods and Services Tax Act, 2017 and declares that the notification shall be deemed to have come into force on the 1st day of April, 2024.

Import conditions for Glufosinate and its salts now conditional: prohibited below CIF threshold, free at or above threshold.
The tariff description for glufosinate has been amended to 'Glufosinate and its salts', imposing a conditional import regime: imports are prohibited below a prescribed CIF value per kilogram and free at or above that CIF threshold; imports must be registered and not prohibited under the Insecticides Act, and the policy will be reviewed after one year. The amendment supersedes the earlier notification and applies with effect from the publication reference of that prior notification.

Amendment to notification alters the specified operative date and declares the notification to come into force retrospectively.
The Finance Department substitutes the operative date in the prior notification's paragraph with a later specified date under statutory powers conferred by the Goods and Services Tax Act, while expressly providing that the notification shall come into force from the earlier stated operative date and referencing the principal notification.

Registration fee and compliance deadlines revised for foreign portfolio investors; late-fee payment preserves trading exit rights.
A foreign portfolio investor must pay registration fees for every three-year block before the block begins; payment within thirty days after block expiry together with the prescribed late fee will be treated as timely. Failure to pay required fees and late fees while continuing to hold securities or derivatives permits sale or winding up of positions within three hundred and sixty days from expiry of the thirty-day period under terms specified by the Board; failure to wind up will lead to deemed write-off as prescribed.

Tariff value fixation for edible oils, metals and areca nut updated, establishing new import valuation benchmarks effective early June.
Substitutes TABLE-1, TABLE-2 and TABLE-3 of Notification No. 36/2001-Customs (N.T.) to fix US dollar tariff values for specified imported goods-edible oils, brass scrap, areca nuts-and unit tariff values for gold and silver in defined forms, exercising powers under section 14(2) of the Customs Act, 1962; the amendments take effect on 1 June 2024.

Special Additional Excise Duty on petroleum crude reduced; new per tonne rate substituted effective from June first.
Reduces the Special Additional Excise Duty on production of petroleum crude by substituting the per tonne rate in the Table of Notification No. 18/2022 Central Excise; the amendment is made under section 5A of the Central Excise Act, 1944 read with section 147 of the Finance Act, 2002 and takes effect from the first day of June.

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

Composition levy exclusion for suppliers of specified actionable claims; composition scheme not available to such registered persons.
The amendment excludes registered persons making supply of specified actionable claims from the composition levy under the composition scheme by inserting that such supplies are not covered by the composition levy, and the change is given retrospective effect to the notified commencement date.

Supply classification under section 15(5): online money gaming, other online gaming and casino actionable claims notified as specified supplies.
Notification under section 15(5) of the Chhattisgarh GST Act specifies three categories as notified supplies: supply of online money gaming; supply of online gaming other than online money gaming; and supply of actionable claims in casinos, with effect from the first day of October, 2023.

Commencement of Amendment Act provisions: specified sections are deemed to be in force with assigned retrospective commencement dates.
The State Government, exercising the power under sub section (2) of section 1, appoints commencement dates for parts of the Chhattisgarh Goods and Services Tax (Amendment) Act, 2024: sections 2-15 and sections 21-26 are deemed to have come into force on 1 October 2023, while sections 16-20 are deemed to have come into force on 1 August 2023, by Notification No. 48/2023 - State Tax issued by the Commercial Tax Department and signed by the Secretary.

Value of supply in online gaming clarified: deposits, virtual assets and casino token purchases form taxable value, refunds non deductible.
The amendment adds rules specifying valuation for GST: rule 31B sets the value of online gaming supplies, including actionable claims in online money gaming, as the total amount paid or payable to or deposited with the supplier by money or money's worth, including virtual digital assets, by or on behalf of the player, with refunds not deductible. Rule 31C sets the value of actionable claims in casinos as the total amount paid or payable by or on behalf of the player for purchase of tokens, chips, coins or tickets or for participation where such instruments are not required, with refunds not deductible; reused winnings not withdrawn are not treated as amounts paid to the supplier.