Cost Inflation Index governs indexed cost computation under the Income-tax Act from assessment year 2018-19 onward.
Cost Inflation Index values are specified under the Explanation to section 48 of the Income-tax Act, 1961, for indexed cost computation from financial year 2001-02 onward. The notification takes effect from 1 April 2018 and applies from assessment year 2018-19 and subsequent assessment years. Later notifications inserted index values for subsequent financial years, effective from their corresponding assessment years.

Exemption for acquisition of equity shares: notification limits non STT transactions with specified preferential and off market exceptions.
The Central Government notifies that acquisitions of equity shares entered into on or after 1 October 2004 are treated as transactions not chargeable to Securities Transaction Tax under clause (38) of section 10, subject to specified exceptions: (a) preferential issues in companies with not frequently traded shares with limited carve outs; (b) acquisitions not via a recognised stock exchange with enumerated provisos including specified institutional, regulatory, FDI compliant and statutory transfer modes; and (c) acquisitions during delisting periods. Key definitions for application of the exceptions are provided and the notification is effective from 1 April 2018.

Provisional anti-dumping duty on toluene di isocyanate imposed, country-specific rates and exchange-based conversion to Indian currency apply.
Provisional anti-dumping duty is imposed on Toluene Di Isocyanate (TDI) from China PR, Japan and Korea RP for up to six months, with specified country and producer/exporter based rates stated per kilogram in US dollars; duties are to be paid in Indian currency using the Government specified exchange rate applicable on the bill of entry presentation date.

Appointment of Assistant Commissioner-cum VATO to assist Commissioner in administration of Delhi VAT under statutory rules.
In exercise of statutory powers under the Delhi Value Added Tax Act and accompanying rules, the Lieutenant Governor has appointed specified officers as Assistant Commissioner-cum VATO to assist the Commissioner of Value Added Tax in administration and enforcement, with appointments taking effect from assumption of charge and recorded by name and date of joining in a Finance Department notification.

Due date for furnishing Form 16 extended to mid June under Income tax Rules amendment, affecting salary TDS compliance.
The Income-tax (10th Amendment) Rules, 2017 amend rule 31(3) of the Income tax Rules, 1962 to change the due date for furnishing the TDS certificate in Form 16 (for salaries) by substituting the earlier specified date with a later mid June deadline; the amendment is effective from publication in the Official Gazette under Notification No. 42/2017.

Continuation of anti-dumping duty on digital offset printing plates extended, maintaining the duty in force for the prescribed continuation period.
The Central Government amends the principal anti-dumping notification on Digital Offset Printing Plates originating in or exported from the People's Republic of China by inserting a new paragraph that, notwithstanding the earlier paragraph, the notification shall remain in force, unless revoked earlier, up to and inclusive of the specified continuation expiry date, thereby extending the period of the existing anti-dumping duty following a statutory review recommendation under the Customs Tariff Act and applicable rules.

Recognition under securities regulation: clearing corporation authorised for a one year term subject to SEBI compliance requirements.
Recognition is granted to NSE IFSC Clearing Corporation Limited under Regulation 4 authorising it as a recognised clearing corporation for one year from 29 May 2017 to 28 May 2018, pursuant to powers under the Securities Contracts (Regulation) Act; the recognition is conditional on compliance with conditions specified by SEBI and any additional conditions SEBI may prescribe.

Tribunal appointments and service conditions govern qualifications, selection, tenure and post-service restrictions across tribunals for members.
Rules set uniform qualifications, appointment procedure, term and service conditions for tribunal and appellate authority members: appointments are by the Central Government on recommendation of a specified Search cum Selection Committee; terms and maximum ages are fixed in the Schedule; medical fitness, asset declaration and oath are required. Removal and inquiry procedures address insolvency, conviction, incapacity, conflict of interest and abuse of office with opportunity to be heard; service conditions cover salary, pension, leave, allowances and post retirement / post service employment restrictions.

Tariff classification amendment in anti dumping notification narrows country applicability to exclude the subject country for specified entries.
Corrigendum effects targeted textual amendments to the notification's Table: it expands a tariff line description by adding additional customs tariff codes and replaces the generic term "Any" in specified table cells with "Any country other than the subject country" for listed serial numbers, thereby adjusting product coverage and geographic applicability in the original anti dumping notification.

Customs exchange rate determination sets fixed conversion rates for specified foreign currencies for import and export purposes.
The Central Board of Excise and Customs, under the Customs Act, prescribes fixed rupee-equivalent exchange rates for specified foreign currencies effective 2 June 2017 for the purpose of imported and export goods; Schedule I lists per-unit rates and Schedule II lists per-100-unit rates, and the notification supersedes the earlier 18 May 2017 notification.

Aadhaar authentication requirement mandates Aadhaar and PAN submission for KYC, with accounts suspended for noncompliance.
Amendments insert Aadhaar-focused definitions and require reporting entities to collect Aadhaar numbers and PAN/Form 60 (or proof of Aadhaar enrolment/officially valid documents) across individuals and entity clients, prescribe authentication via e-KYC or Yes/No facilities, set documentary and monitoring rules for small accounts, require constitutional and authorisation documents for companies, firms, trusts and associations, and mandate that accounts become non-operational if eligible clients fail to submit Aadhaar and PAN within prescribed timelines.

SEBI amends capital-raising rules to require quarterly monitoring reports and public disclosure of issue proceeds utilisation.
The amendments add systemically important non-banking financial companies (NBFCs with net worth over five hundred crore) to defined terms, revise regulation 16 to exclude offer-for-sale from issue-size calculations and lower the numeric threshold, require quarterly monitoring agency reports in the Schedule IX format until 95% of proceeds (excluding offer-for-sale and general corporate purposes) are utilised, mandate board and management comments, and require public dissemination of monitoring reports within forty five days; Schedule IX is substituted with a detailed standardized monitoring-report format.

Tariff valuation updated for specified commodities, fixing import tariff values for edible oils, metals, seeds and nuts.
Amendment under section 14(2) of the Customs Act substitutes TABLE-1, TABLE-2 and TABLE-3 of Notification No. 36/2001-Customs (N.T.), fixing tariff values in US dollars per metric tonne for specified edible oils, brass scrap, poppy seeds and areca nuts, and establishing unit tariff values for gold and silver where benefits of specified entries of Notification No. 12/2012-Customs are availed.

Export exclusions for computation of scheme entitlements clarified, listing categories not counted towards export performance.
The notification amends export performance rules by specifying categories of exports not to be counted for calculation of export performance or scheme entitlement: for 1 April 2005 to 19 February 2006 it excludes imported goods under the FTP/transshipments, turnover of SEZ/EOU/EHTP/STP/BTP units or their products exported via DTA, deemed exports, service exports, rough/uncut/semi polished diamonds and other precious stones, precious metals (including jewellery), and export performance recorded by one exporter for another; from 20 February 2006 the exclusions are restated and expanded to add supplies to such units, ores and concentrates, cereals, sugar and crude/petroleum products.

Statement of Financial Transactions submission must use electronic media with temporary receipt and electronic validation.
The procedure requires filers to submit Form 61A as an XML file on computer media plus a duly signed physical control sheet at a TIN Facilitation Centre, which issues a temporary receipt. The XML is validated by NSDL e Gov and, after validation, a provisional receipt or non acceptance memo is emailed to the address on the temporary receipt. Principal DGIT (Systems) prescribes data structures, security, archival and retrieval standards; select officers may submit on CD/DVD with paper verification in Form V.

Declaration in Form 15G/15H: depositors must list all investments and update declarations when estimated income changes.
Depositors must furnish Form 15G/15H containing details of all current and prior investments and the aggregate income on which non-deduction of tax is claimed; when estimated total income or new investments change, a fresh declaration is required, while for old investments the depositor must state the number of earlier declarations and the aggregate income covered to enable the payer to decide whether to accept the form.

Regulation amendment: omission of a specific stock brokers provision alters registration framework upon official Gazette publication.
The Securities and Exchange Board of India issues an amendment to the Stock Brokers and Sub Brokers Regulations, 1992 by omitting regulation 18C; the amendment takes effect on the date of its publication in the Official Gazette, thereby altering the regulatory text governing stock brokers and sub brokers without specifying transitional measures.

Offshore derivative instruments restriction: ODIs prohibited from being issued or transferred to resident or beneficially linked Indian persons.
Amendment adds clause (c) to regulation 22(1) of the FPIs Regulations, providing that offshore derivative instruments shall not be issued to or transferred to persons who are resident Indians or non-resident Indians, nor to entities beneficially owned by resident Indians or non-resident Indians, creating a categorical prohibition on ODIs reaching persons or entities with beneficial ownership links to Indian residents.

Maharashtra GST transition: state laws amended to remove octroi, reassign tax powers to local authorities, and align VAT.
The Act abolishes octroi and related municipal levies by deleting sections and schedules in municipal laws, substitutes references to State or Collector with local authority and specified local officers, aligns the Value Added Tax Act and its schedules and definitions with the Maharashtra Goods and Services Tax Act, 2017 (including declaration requirements and a scheme for speedy disposal of pending proceedings), and redefines "cost of vehicle" in the Motor Vehicles Tax Act to include GST and related cesses, while providing validation and savings for pre appointed date proceedings and instruments.

TDS on minor's interest income must be reported under the minor's PAN unless a Rule 37BA declaration is filed.
TDS on interest income accruing to a minor whose both parents are deceased must be deducted and reported against the minor's PAN unless a declaration under Rule 37BA is filed; such income is to be assessed in the minor's hands and the minor's ITR filed by the guardian.