Rescission of Uttar Pradesh SGST notification under GST law takes effect retrospectively, with past actions preserved.
Rescission of a prior Uttar Pradesh SGST notification is issued under section 148 of the Uttar Pradesh Goods and Services Tax Act, 2017, on the recommendations of the Council. The earlier notification dated 21 September 2023 is rescinded, subject to saving of things done or omitted to be done before the rescission. The notification is given retrospective effect from 1 January 2024.

Exchange of information: bilateral tax information sharing enabled to assist administration and enforcement of domestic tax laws.
The Agreement requires competent authorities to exchange information foreseeably relevant to administration and enforcement of domestic tax laws, including determination, assessment, collection, recovery, enforcement and investigation or prosecution of tax matters. Requests must demonstrate foreseeable relevance and include specified particulars; the requested Party must use all relevant information gathering measures available under its law to obtain information from banks, financial institutions, nominees, trustees, ownership chains, collective investment vehicles, trusts and foundations, subject to territorial and possession limits, while respecting confidentiality and specified refusal grounds.

GST rate schedule amendment revises HSN entries for specific goods and applies retrospectively from January 2024.
The Uttar Pradesh GST notification amends Schedule I-2.5% by substituting the entries at Sl. No. 165 and 165A with HSN codes 2711 12 00, 2711 13 00 and 2711 19 10. The amendment is deemed to have come into force from 4 January 2024.

GST time limit extension for tax recovery orders under section 73 applies to earlier financial years in Uttar Pradesh.
Extension of the time limit for issuance of orders under section 73(9) for recovery of tax not paid, short paid, or input tax credit wrongly availed or utilised under the Uttar Pradesh Goods and Services Tax Act, 2017. The State Government extended the limitation period under section 168A, read with section 20 of the Integrated Goods and Services Tax Act, for the financial years 2018-19 and 2019-20, up to 30 April 2024 and 31 August 2024 respectively.

GST amendment clarifies substitution of wording on forward and reverse charge applicability, altering scope of taxable supplies.
Amendment substitutes wording in Annexure III of the State Tax (Rate) notification: the phrase referencing persons "during the Financial Year ____ under forward charge" is replaced by wording identifying supplies "from the Financial Year under forward charge and have not reverted to reverse charge mechanism," thereby clarifying the continuity condition for application of forward charge.

Option to revert to reverse charge: GTA must file annual declaration between 1 Jan and 31 Mar or remain opted in.
The notification narrows the annual window for a Goods Transport Agency to elect or revert between forward charge and reverse charge to a period beginning 1 January and ending 31 March of the preceding financial year, inserts a proviso deeming an exercised option to continue for ensuing years unless Annexure VI is filed to revert, adds Annexure VI as a prescribed form for GTA declarations to revert to reverse charge, and confirms that an exercised option cannot be changed within one year and remains valid for the relevant financial year.

Annual kilolitre entitlements for mechanised and diesel-engine country boats are revised, with declaration entries aligned to revised limits.
Tamil Nadu revises the annual kilolitre quantities applicable to fishermen operating mechanised boats and country boats fitted with diesel engines. The quantity for mechanised boats is reduced to 85,500 kilolitres per annum, and that for country boats fitted with diesel engines is reduced to 57,200 kilolitres per annum. The Form of Declaration is correspondingly amended to reflect these revised quantities. The variations take effect from 6 February 2024.

Authority for Advance Ruling constituted, appointing two members to the Tamil Nadu GST body under statutory powers.
The Governor of Tamil Nadu, exercising powers under the Tamil Nadu Goods and Services Tax Act, constitutes the Authority for Advance Ruling, superseding the departmental notification dated 9 January 2024, and appoints two members: Tmt. D. Jayapriya, IRS (C&CE), Additional Commissioner of GST and Central Excise (effective 21.06.2023), and Tmt. A. Valli, Joint Commissioner (State Tax) (effective 28.12.2023).

Control of income-tax authorities: subordinate Commissioner of Income-tax (Appeals) units placed under Principal Chief Commissioners, preserving appellate discretion.
Amendment modifies an earlier notification under section 118 by substituting "First Schedule," omitting specified serial entries from that First Schedule, inserting a "Second Schedule" pairing Commissioner of Income-tax (Appeals) Units with Principal Chief Commissioners, and providing that those Appeals Units shall be subordinate to the named Principal Chief Commissioners while expressly preserving the discretion of Commissioners of Income-tax (Appeals) in exercising their appellate functions.

Goods supplied free of charge by foreign buyer: amendment allows export back to the same foreign buyer under SEZ rules.
Amendment permits reception of goods free of charge from a foreign buyer and their export to the same foreign buyer by inserting the specified phrase into sub rule (6) of rule 27 of the Special Economic Zones Rules, 2006; the amendment takes effect on publication in the Official Gazette under section 55 of the Special Economic Zones Act, 2005.

Central Processing Centre created to process company e forms nationwide, centralizing fee-based filing under Companies Act.
A Central Processing Centre at the Indian Institute of Corporate Affairs, IMT Manesar, is established under section 396 of the Companies Act, 2013 with India-wide territorial jurisdiction to receive, process and dispose of fee-bearing e forms under the Companies (Registration of Offices and Fees) Rules, 2014, while preserving the jurisdictional Registrar's authority over all other provisions of the Act for companies within their territorial limits.

Special Additional Excise Duty increase on petroleum crude amends tariff entry and takes effect from 3 February 2024
The notification substitutes the entry in the tariff Table for S. No. 1 in Notification No. 18/2022 Central Excise, increasing the Special Additional Excise Duty on production of petroleum crude by replacing the column (4) entry with "Rs. 3200 per tonne." The amendment is effected under powers conferred by the Central Excise Act and the Finance Act and is stated to be necessary in the public interest, with commencement on 3 February 2024.

Exchange Rate Determination sets new customs conversion rates for import and export valuation, superseding prior notification.
The Central Board of Indirect Taxes and Customs, under section 14 of the Customs Act, 1962, notifies exchange conversion rates effective 2nd February 2024, superseding Notification No. 04/2024. Two schedules annexed specify distinct rates for imported and export goods: Schedule I supplies per-unit rates for listed currencies and Schedule II supplies per-100-unit rates for specified currencies, to be used for customs valuation.

Appointment of Technical Members under Companies Act and Tribunals Reforms Act for fixed tenure subject to age limits.
The Central Government appointed persons as Technical Members in the National Company Law Appellate Tribunal under section 410 of the Companies Act, 2013 read with provisions of the Tribunals Reforms Act, 2021. Appointments run for four years from assumption of charge, or until the appointee attains age sixty seven, or until further order, whichever is earlier; the notification lists the named appointees and their dates of assumption of charge.

Appointment of tribunal members under statutory authority: judicial and technical members appointed to the National Company Law Tribunal.
The Central Government, exercising powers under section 408 of the Companies Act, 2013, has appointed specified persons as Judicial Members and Technical Members of the National Company Law Tribunal in the prescribed pay scale and pay matrix for a period of five years from their dates of joining, subject to cessation on attaining the age of sixty-five years or until further orders; the notification lists each appointee, post and date of joining.

Authorisation for assignment validity adjusted to fixed calendar expiries with age based termination provision.
The amendment prescribes that an authorisation for assignment issued or renewed by an insolvency professional agency is valid for one year from issuance or renewal but is subject to fixed calendar expiries-expiring on 30 June if the one year expiry falls in the first half of the year, or on 31 December if it falls in the second half-and that the authorisation terminates if the professional attains the age of seventy during the validity period.

Resignation of insolvency professionals: permitted with stakeholder recommendation and Adjudicating Authority approval, duties continue until approval.
An insolvency professional may resign from an assignment subject to stakeholder recommendation-committee of creditors, consultation committee, or debtor/creditor in a personal guarantor process-and the approval of the Adjudicating Authority, and must continue duties until such approval. Insolvency professional entities may engage or appoint partners or directors for assignment-related work and provide services connected to assignments undertaken by those partners or directors, excluding any services related to valuation or audit of the debtor.

Voluntary liquidation process amendments streamline liquidator reporting and stakeholder withdrawal mechanisms and enhance disclosure obligations for corporate persons.
Amendments expand affidavit and disclosure obligations at liquidation commencement to include provision for pending matters and disclosure of pending proceedings and litigations; they revise contributory meeting timing and require the liquidator to file a Status Report with the Board within seven days of each meeting; and they establish a stakeholder withdrawal process from the Corporate Voluntary Liquidation Account allowing pre and post dissolution applications, Board release mechanisms, and documentary proof of entitlement for non-stakeholder claimants.

Bankruptcy process for personal guarantors amended: clauses in regulation three and regulation five removed and clarified.
The amending regulations modify the principal regulations by inserting a coordinating conjunction in the explanation to regulation 3(1)(a), substituting punctuation to conclude regulation 3(1)(b), omitting clause (c) of that explanation, and omitting clause (c) of the proviso to regulation 5(1); the amendments are titled accordingly and commence on publication in the Official Gazette.

Repayment plan obligation: resolution professional must place plan before creditors and notify them if none received.
The amendment inserts Regulation 17A requiring the resolution professional to place the repayment plan under section 105 before a meeting of creditors for consideration, and to notify creditors at that meeting if no repayment plan is received within the period stipulated under section 106.