Taxation: Gene therapy listed in state tax schedule and retail pre-packaging definitions revised for compliance.
Amendment adds S. No. 105A to the State tax (rate) Schedule to list Gene Therapy and substitutes clause (ii) of the Explanation with a definition of pre-packaged and labelled goods as retail commodities up to 25 kg or 25 litre that are 'pre-packed' under clause (l) of section 2 of the Legal Metrology Act, 2009, with required declarations on the package or label. The notification takes immediate effect.

Customs exemption expanded to include Long Range Surface to Air Missile System components, effective immediately.
Substitutes item (II) against Sl. No. 21 in Notification No. 19/2019 Customs to read: systems, sub-systems, equipment, parts, sub-parts, tools, test equipment, software meant for Long Range Surface to Air Missile System (LRSAM). The amendment is made under the Customs Act and Customs Tariff Act and comes into force with immediate effect.

Gene Therapy exemption for intra-State supplies introduced, and 'pre-packaged and labelled' definition narrowed to retail packages.
The amendment adds an exemption entry for Gene Therapy (S. No. 105A, Chapter 30) to the CGST rate notification and substitutes the Explanation's clause defining "pre-packaged and labelled" to mean retail-sale commodities up to 25 kg or 25 litre that are "pre-packed" under the Legal Metrology Act, 2009 and whose package or securely affixed label must bear the statutory declarations. The notification is effective immediately.

Exemption for gene therapy: new UTGST schedule entry and clarified pre-packaging definition affecting tax applicability.
The notification adds Gene Therapy as a new entry in the UTGST (Rate) Schedule and substitutes the definition of pre-packaged and labelled to mean retail-sale commodities that are pre-packed in conformity with legal metrology standards, bear required package or label declarations, and contain not more than 25 kg or 25 litre; the amendment is effective immediately.

Absolute exemption from IGST on inter state supplies of gene therapy introduced with revised pre packaged and labelled definition.
Absolute exemption from IGST is provided for inter state supplies of goods classified as Gene Therapy by inserting a new Schedule entry; simultaneously, the definition of "pre packaged and labelled" is replaced to mean retail commodities up to 25 kg or 25 litres that are "pre packed" under the Legal Metrology Act, 2009 and whose package or label must carry the statutory declarations. The notification is effective immediately.

GSTR-1 filing deadline extended: monthly filers must submit December returns by mid-January and quarterly filers soon after.
The Commissioner of State Tax, West Bengal, by amendment, extends the time limit for furnishing details of outward supplies in FORM GSTR-1: for registered persons required to file under the primary return provision for December 2024 until 13 January 2025, and for persons required to file under the proviso for October-December 2024 until 15 January 2025, with the amendment effective from 10 January 2025.

Tax Classification: Fortified Rice Kernel added to state GST rate schedules and 'pre packaged and labelled' definition aligned with Legal Metrology.
The notification adds Fortified Rice Kernel (FRK) to Gujarat State GST rate schedules-appearing in the lower-rated Schedule I and as an explicit entry alongside items in Schedule III-and substitutes the Explanation to define pre-packaged and labelled consistent with the Legal Metrology Act, 2009, covering retail-packaged commodities not exceeding 25 kg or 25 litres where the package or label must bear required Legal Metrology declarations; the amendment takes immediate effect.

Tax treatment of Fortified Rice Kernel (FRK) updated to add FRK to state GST schedules and clarify labelling rules.
Fortified Rice Kernel (FRK) is inserted into Schedule I and added to the description in Schedule III of the Meghalaya SGST notification, and clause (ii) of the Explanation after Schedule VII is substituted to define 'pre-packaged and labelled' as commodities intended for retail sale containing not more than 25 kg or 25 litre that are 'pre-packed' under the Legal Metrology Act, 2009, with the package or label required to bear the declarations mandated by that Act and its rules; the amendment takes effect immediately.

GST rate schedule amendment adds Fortified Rice Kernel and revises the definition of pre-packaged and labelled commodities.
Arunachal Pradesh State Tax (Rate) notification amends the GST rate schedule to insert Fortified Rice Kernel (FRK) in Schedule I at 2.5% under HSN 1904 and in Schedule III at 9% against the entry relating to items commonly known as Murki. It also substitutes the explanation of pre-packaged and labelled commodities to cover retail-sale commodities not exceeding 25 kg or 25 litre that are pre-packed under the Legal Metrology Act, 2009 and bear the required declarations.

Definition of pre-packaged and labelled revised; retail commodities must meet Legal Metrology pre packing and labelling requirements immediately.
The notification inserts Fortified Rice Kernel (FRK) into specified GST rate schedules and substitutes the Explanation to define "pre-packaged and labelled" as commodities intended for retail sale that are pre-packed under the Legal Metrology Act, 2009 and whose package or securely affixed label must bear the declarations required by that Act and its rules; the amendment is effective immediately.

Pre-packaged and labelled definition tightened to retail-package limit, requiring Legal Metrology declarations and affecting UTGST schedule entries.
The notification inserts Fortified Rice Kernel (FRK) into specified UTGST rate schedules and substitutes the Explanation to define pre-packaged and labelled as commodities for retail sale in packages not exceeding twenty-five kilograms or litres, that are "pre-packed" under the Legal Metrology Act, 2009, with the package or label required to bear the declarations mandated by that Act and its rules; the amendment is effective immediately.

IGST Rate Amendment: Fortified Rice Kernel added to tariff entries and packaging definition aligned with Legal Metrology requirements.
Insertion of Fortified Rice Kernel (FRK) into the IGST tariff by adding a new serial entry and expanding an existing higher-rate entry to include FRK; and substitution of clause (ii) in the Explanation to define pre-packaged and labelled as retail commodities up to 25 kg or 25 litres that are pre-packed under the Legal Metrology Act, 2009, with required package or label declarations. The notification is effective immediately.

Compensation cess cap on exported taxable goods set at concessional rate subject to export, documentation, and movement conditions.
Grants a concessional compensation cess treatment on taxable goods supplied by a registered supplier to a registered recipient for export, exempting the portion of cess above a minimal rate subject to conditions: issuance of tax invoice, recipient's export within the specified period, inclusion of supplier GSTIN and invoice number in shipping documentation, recipient's registration with a recognised export body, provision of order to the supplier and tax officer, prescribed movement of goods (direct to export points or registered warehouses), requirements for aggregation and warehouse acknowledgements, and submission of shipping bill and export proof to supplier and jurisdictional tax officer.

Import exemption for IAEA inspection equipment and consumables permitted subject to Department of Atomic Energy certification and export undertaking.
Equipment and consumable samples imported by the IAEA inspection team are exempt from customs duty and integrated tax, provided the importer produces a certificate and certified list from the Joint Secretary or Deputy Secretary of the Department of Atomic Energy and that the Department furnishes an undertaking that equipment will be exported within six months or such extended period as may be allowed by the Commissioner of Customs and that consumables are required and will be accounted for.

Fixation of tariff values: updated import tariff values for edible oils, brass scrap, areca nut, gold and silver effective Jan 16.
Fixation of tariff values substitutes Tables 1-3 of the principal non-tariff notification, specifying US dollar tariff values per metric tonne for listed edible oils and brass scrap, US dollar values for gold and silver in specified forms with explanatory exclusions, and a tariff value for areca nuts; issued under section 14(2) of the Customs Act, 1962 and effective from the stated commencement date.

Sea cargo manifest compliance for non-specified ports is deferred, extending the relevant regulatory applicability until 31 March 2025.
The Sea Cargo Manifest and Transshipment Regulations are amended to substitute the date against serial number 6 in the Table after Form XII with 31 March 2025. This defers the applicability of the relevant new regulation for ports other than the specified ports until that date. The amendment takes effect upon publication in the Official Gazette.

Transfer of funds between repatriable Rupee accounts now permitted for bona fide transactions, clarifying SNRR account handling and bank eligibility.
The amendment broadens authorised dealer scope to include branches outside India, permits transfers between repatriable Rupee accounts for bona fide transactions, and revises SNRR account rules: eligible non-residents may open SNRR accounts with an authorised dealer or its branch outside India for permissible current and capital account transactions and for dealings with non-residents; IFSC units may open SNRR accounts outside IFSC for outside-IFSC business. "Indian bank" is replaced by "A bank" and SNRR account tenure is made concurrent with the account holder's contract, operation period, or business.

Mode of payment for foreign non debt investments: inward remittance or repatriable account debit, proceeds remittable abroad.
Amendments require consideration for foreign investments in equity, units, LLP capital and convertible notes to be paid by inward remittance through banking channels or from funds in repatriable foreign currency or Rupee accounts maintained under the Deposit Regulations, allow sale, maturity or disinvestment proceeds (net of taxes) to be remitted abroad or credited to such repatriable accounts, and clarify that "banking channels" include rupee vostro accounts, including Special Rupee Vostro Accounts.

Foreign currency accounts for resident exporters allowed for export realisation; funds may fund imports or be repatriated under export rules.
Authorises a resident exporter to open and maintain a Foreign Currency Account abroad to realise full export value and advance remittances; funds may be used for paying for imports into India or repatriated within the end of the next month from receipt after adjusting for forward commitments, subject to the realisation and repatriation requirements in Regulation 9 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015.

Research Association approval: recognises CPRI Bengaluru under section 35 for scientific research, effective retrospectively for relevant assessment years.
Central Government approves Central Power Research Institute (CPRI), Bengaluru, as a Research Association for Scientific Research under clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, identifying the entity by PAN; the approval is issued under the Income tax Rules and given retrospective effect from publication in the Official Gazette, applying to a defined sequence of assessment years.