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Notifications
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Notified Name of RCS Airport with RCS route
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GST exemption for RCS UDAN VGF begins from each airport's notified commencement, enabling three year fiscal relief.
The notification fixes the temporal trigger for two fiscal concessions under RCS-UDAN: VGF disbursed to Selected Airline Operators is exempt from GST for three years from the notified commencement of RCS UDAN operations at each airport, and a 2% excise duty on Aviation Turbine Fuel used for RCS-UDAN flights applies for three years from each airport's notified commencement date; a schedule of airports, routes and their commencement dates is published to determine those three year windows.
Jammu and Kashmir Reorganisation (Adaptation of Central Laws) Order, 2020
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Adaptation of Central Laws: central statutes extended and modified to apply to the Union territory, with transitional safeguards.
Adaptation of Central Laws Order brings numerous Central Acts into force in the Union territory of Jammu and Kashmir with immediate effect subject to modifications in the Schedule, prescribes application of the General Clauses Act for interpretation, preserves prior notifications and actions taken before the appointed day, and provides transitional and savings provisions. The Schedule specifies targeted textual substitutions, insertions and omissions across procedural, substantive and sectoral laws - notably civil procedure case-management and disclosure rules, arbitration referrals to mediation, extensive forest-law amendments including seizure, confiscation and appeals, establishment of an Anti Corruption Bureau, and insertion of a sextortion offence - together with mechanisms for enforcement and continuance of pre-existing rights and proceedings.
Supersession vide Notification S.O. 2641(E), dated the 5th August, 2016, S.O. 4176 (E) dated the 27th August, 2018, and S.O. 5391(E) dated 24th October, 2018.
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Enforcement of Security Interest: government designates certain NBFCs as financial institutions enabling enforcement of secured debts above set thresholds.
The Central Government specifies that non-banking financial companies meeting a prescribed asset-size eligibility are to be treated as financial institutions under the SARFAESI Act and thereby entitled to enforce security interest in secured debts meeting a prescribed minimum threshold; the notification supersedes earlier specified notifications while preserving prior acts or omissions under them.
Banning of Unregulated Deposit Schemes Rules, 2020
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Provisional attachment of property: Competent Authority may attach and administer assets to secure depositors' restitution.
The Competent Authority may provisionally attach and administer property of persons operating an Unregulated Deposit Scheme, take possession of moveable and immoveable assets, maintain records of assets, expenditures and income, appoint valuers, assess assets and liabilities, prepare a complete list of depositors, and, where necessary, sell perishable property with proceeds recorded for depositor restitution; confirmation of attachment is sought before the Designated Court with prescribed particulars.
Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules, 2020
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Tribunal member qualifications and selection by a Search cum Selection Committee determine appointments and service conditions.
Rules govern qualifications, appointment, tenure and conditions of service for tribunal and appellate tribunal members under the Finance Act schedule. Appointments are made by the Central Government on recommendation of a Search-cum-Selection Committee which assesses suitability, integrity and adjudicatory experience and recommends panels. The rules prescribe medical fitness, resignation and removal procedures, inquiry processes for misconduct or incapacity, term lengths with age limits, casual vacancy arrangements, remuneration and benefits, pension and provident fund treatment, leave and allowances, post-retirement and post-employment restrictions, oath and secrecy, and a Schedule with tribunal-specific qualifications and Committee composition.
Ministry Of Finance declares GST Database & infrastructure installed at GSTN as protected
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Protected system designation for GST database restricts access to authorised GSTN staff, tax officers, vendors and partners.
The Goods and Services Tax Database and associated infrastructure at GSTN are declared a protected system under the Information Technology Act, with access restricted to designated GSTN employees authorised by the Head of GSTN, designated tax officers, auditing agencies and accounting authorities, authorised contractual managed service provider or third-party vendor personnel and GSTN authorised business partners; the notification takes effect on publication in the Official Gazette.
Central Government hereby notifies the Common Application Form for the purpose of registration, opening of bank and demat accounts, and application for Permanent Account Number by Foreign Portfolio Investors (FPIs) in India.
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Common Application Form for Foreign Portfolio Investors enables registration, PAN, and opening of bank and depository accounts.
Central Government notifies the Common Application Form as the unified instrument for Foreign Portfolio Investors to obtain registration, open bank and depository accounts, and apply for a Permanent Account Number; the CAF prescribes comprehensive KYC, FATCA/CRS and UBO disclosures, documentary attestation standards, investor category selection, and operational steps for electronic submission and processing through the designated depository participant and custodians.
Central Government hereby appoints the 20th day of January, 2020, as the date on which the provisions of Part III and sections 183, 184 and 185 of Part IX of Chapter VI of the said Act shall come into force.
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Commencement of Finance Act provisions brings specified Part and sections into force on the appointed date.
The Central Government, exercising powers under designated enabling provisions of the Finance (No. 2) Act, 2019, notifies an appointed date as the operative commencement for Part III and specified sections of Part IX of Chapter VI, thereby activating those statutory provisions and making them legally effective from the appointed date.
Central Government notifies “Registrars to an Issue and/or Share Transfer Agents” registered as a “depository” for the limited purposes of acting as a “collecting agent”.
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Depository status for registrars and share transfer agents enables limited role as collecting agents for off exchange instruments.
Registrars to an Issue and Share Transfer Agents registered under SEBI Regulations, 1993 are notified as a depository only for the limited purpose of acting as a collecting agent under the Indian Stamp Act for instruments executed otherwise than through a recognised stock exchange or recognised depository.
Seeks to amend Notification No. S.O. 4419 (E), dated the 10th December, 2019
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Commencement date amendment postpones the Finance Act section 11 effective date to July next year.
The Central Government, exercising powers under the Finance Act, amends the principal notification S.O. 4419(E) by substituting the previously specified commencement day with a later calendar date, thereby changing the effective date of the provisions notified. A note records that an earlier substitution had set an intermediate commencement date which is now superseded by this amendment. The instrument is an administrative notification published by the Department of Revenue to revise the operative commencement timeline.

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Acts Income Tax