Tariff value fixation updated for specified edible oils, metals and areca nut, setting new customs valuation effective May.
The Central Board of Indirect Taxes & Customs, under sub-section (2) of section 14 of the Customs Act, 1962, substitutes TABLE-1, TABLE-2 and TABLE-3 in the principal non-tariff notification to fix expressed tariff values in US dollars for specified imported goods - including edible oils, brass scrap, areca nut, and specified forms of gold and silver - and provides scope and limited explanations for certain entries. The notification is effective from 1st May, 2025.

Tariff classification update: Customs revises rice tariff subheadings and exemption entries, effective from 1 May 2025.
Amends specified customs exemption notifications to substitute, insert and reclassify tariff subheadings and exemption entries for parboiled rice, GI recognised rice, other parboiled rice and semi milled or wholly milled rice, and updates a 2024 notification's table entry to reference the revised subheadings, effective from 1 May 2025, thereby aligning exemption entries with changes in the Second Schedule to the Customs Tariff Act.

Export duty on rice imposed through amendments to Customs Tariff Second Schedule, narrowing tariff classifications and effective immediately.
The Central Government amends the Second Schedule to the Customs Tariff Act to create and substitute tariff entries distinguishing parboiled rice GI recognised, other parboiled rice, other rice GI recognised, and semi milled or wholly milled rice, prescribing a uniform export duty rate for those listed categories; certain tariff code entries are substituted to reflect reclassification. The amendment takes effect from 1 May, 2025 under the Government's statutory authority to levy export duty.

Rescission of customs notification restores import duty exemption following tariff rationalization, effective from May with savings for prior acts.
The Central Government rescinds Notification No. 04/2025 Customs (dated 1 February 2025) on the basis that the Basic Customs Duty tariff has been rationalized, giving effect to the rescission prospectively from 1 May 2025 while preserving consequences of actions done or omitted before rescission; the exercise is taken under powers conferred by the Customs Act in furtherance of public interest.

Customs tariff amendments update exemption schedules to align with Finance Act changes, replacing tariff codes and inserting entries.
Amendments directed to multiple customs exemption notifications to align tariff classification entries with changes effected by the Finance Act, 2025, achieved by substituting specified tariff headings and sub-headings and inserting new serial entries in the Tables of the cited principal notifications, thereby modifying the scope of goods eligible for exemption under those schedules.

Anti-dumping duty amendments update tariff classifications and substitute HS codes, aligning notifications with Finance Act changes.
Amends three existing Customs (Anti Dumping Duty) notifications by substituting specified tariff classification figures and HS code entries in their Tables with revised lists of tariff codes, thereby aligning those notifications with changes effected by the Finance Act, 2025. The notification takes effect from 1st May, 2025 and confines its operation to replacing listed tariff figures in the cited notifications.

Countervailing duty classification update: tariff headings revised to align with Finance Act amendments, effective from May.
Substitutes specified tariff item codes in Notification No. 05/2024 Customs (CVD) with a revised list of tariff figures to align the notification with changes made by the Finance Act, 2025; issued under section 9 of the Customs Tariff Act, 1975 and rules 20, 22 and 24 of the 1995 Rules; effective from 1st May, 2025.

Securitised debt trustee registration centralised; trustees must annually disclose litigations and servicing defaults to exchanges.
For securitised debt instruments, SCORES registration may be taken at the trustee level for the trustee's special purpose distinct entities. Special purpose distinct entities or their trustees must annually disclose to the stock exchange: outstanding litigations and material developments related to the originator, servicer or other transaction parties that could be prejudicial to investors; and defaults in connection with servicing obligations undertaken by the servicer.

Foreign currency account duration extended for Diamond Dollar accounts, increasing the required period in the application form.
The Reserve Bank of India amends Schedule II of the principal regulations by substituting the words and figures "2 Years" with the words "Three Years" in the first paragraph of the Annex titled 'Application For Opening Diamond Dollar Account/s', effective from publication in the Official Gazette.

Track and trace mechanism for specified goods creates unique identification marking obligations and new compliance and penalty duties.
The Act inserts a defined unique identification marking, introduces a track and trace scheme (Section 148A) empowering notification of goods and persons, mandating affixation of unique markings, electronic storage and reporting of specified information, and requires payment for the system; it adds a dedicated penalty (122B) for contravention in addition to existing penalties. It clarifies "plant and machinery", modifies statement and return language, tightens input tax credit reversal and credit-note provisos, imposes appeal pre-deposit conditions for penalty-only orders, and amends Schedule III to address SEZ/FTWZ warehouse supplies.

Income-tax rules amended: ITR-1 and ITR-4 replaced; Form 10BA must be furnished with the income tax return.
Amendments to the Income tax Rules, 1962 effective 1 April 2025 revise Rule 12 to expand and clarify eligibility for the simplified SUGAM (ITR 4) return-permitting certain assessees with presumptive business/professional income and only limited long term capital gains subject to specified loss conditions-and update a sub rule date. Rule 11B is amended to require furnishing Form 10BA with the return. Appendix II substitutes new ITR 1 and ITR 4 forms reflecting the revised eligibility and reporting requirements.

Waiver of interest and penalties: payment deadline set to qualify registered persons for relief upon notices or redetermination orders.
Notification fixes final dates by which specified classes of registered persons may pay tax to qualify for a waiver of interest and penalties under the interest and penalty waiver mechanism: one date for persons issued a notice, statement, or order and a separate cutoff of six months from the redetermination order for persons whose tax is redetermined following appellate directions.

Commencement of Mizoram GST Amendment provisions notified with staggered commencement for identified sections under the Amendment Act.
Notification appoints staggered commencement dates for provisions of the Mizoram Goods & Services Tax (First Amendment) Act, 2025: the date of Gazette publication for a subset of provisions, and an earlier calendar date for the remaining specified provisions, effected under the Act's power to appoint commencement dates.

Partial appeal withdrawal permits trimming appeals to a specified period, allowing orders on remaining tax demands while limiting refunds.
The rules limit refunds by specifying that no refund is available for tax, interest or penalty already discharged in full prior to the amendment where a demand covers both the transitional period and other periods. They also permit applicants to intimate partial non-pursuit of appeals for the specified period, enabling the appellate authority to decide the appeal for the remaining period and treating the intimation as a deemed withdrawal to that extent.

Regulatory amendment to infrastructure investment trusts expands proviso categories in regulation 18(4), broadening applicable items.
The amendment substitutes the proviso to regulation 18(4) of the Infrastructure Investment Trusts Regulations to read as including ", (v), (vi), (vii) and (viii)", thereby adding items (vi)-(viii) to the listed categories; the regulation is deemed effective from April 2, 2025 and is issued under the Board's statutory rulemaking powers.

Cooperation and mutual administrative assistance in customs expanded to include New Zealand and Madagascar under section 151B.
Amends the table to Notification No. 58/2021-Customs (N.T.) to add New Zealand and the Republic of Madagascar as contracting States covered by Agreements or Arrangements on Cooperation and Mutual Administrative Assistance (CMAA) in Customs matters, thereby bringing those instruments within the scope of section 151B of the Customs Act.

Common Adjudicating Authority appointment for finalisation of provisional SVB assessment in M/s Murrplastik customs proceedings.
Appointment of a Common Adjudicating Authority under sub section (1) of section 4 read with section 3 and sub sections (1) and (1A) of the Customs Act, 1962 to exercise the powers and duties of the officers originally named, for adjudication of specified show cause notices issued to M/s Murrplastik India Private Limited, as recorded in the notification and Table.

Amendment to Nil Duty Bank List: Revised eligible banks authorized for import of gold and silver under customs notification.
The Central Government substitutes List 34A and List 34B in Notification No. 50/2017 Customs to revise the list of banks eligible to facilitate import of gold and silver at nil customs duty (see S. No. 359A of the Table). List 34A names thirteen specified banks and List 34B names two specified banks. The substitution is given effect for the stated fiscal period and the notification references the principal notification and the immediately preceding amendment.

Information sharing under PMLA expanded to include the Indian Cyber Crime Coordination Centre for FIU India disclosures.
The Central Government amends the PMLA information sharing notification to add the Indian Cyber Crime Coordination Centre (I4C) as an additional designated recipient for information shared by the Director, Financial Intelligence Unit India, thereby extending the interagency information exchange framework under section 66(1)(ii).

Appeal Procedure: mandatory electronic filing and standardized rules streamline institution, service, hearings and record-keeping before the appellate tribunal.
The Rules institute a detailed procedure for appeals to the Goods and Services Tax Appellate Tribunal, mandating electronic filing on the GSTAT portal in prescribed Forms with specified contents, verification and certified or attested supporting documents; provide for scrutiny, return for defects, registration and cause-listing; require service of copies on respondents and Commissioners; regulate interlocutory applications, translation into English, and limits on new grounds without leave; and empower the Registrar and the Bench to manage filings, call records, order reproduction of documents at party cost, and direct hybrid or electronic hearings.