Co-investment Portfolio Manager status established, with tailored exemptions and AIF-aligned investment and exit rules.
Creates a Co-investment Portfolio Manager category for Managers of Category I/II AIFs who serve only investors of such AIFs and invest solely in unlisted securities of the same investee companies; aligns definitions with AIF Regulations; permits designation of a Key Investment Team member meeting AIF principal-officer criteria as principal officer. Carves out specified regulatory requirements for Co-investment Portfolio Managers, requires 100% of AUM to be invested in relevant unlisted investee companies, mandates that co-investor terms and exit timing be no more favourable or different from the AIF, and allows performance calculation as agreed with clients; updates Form A and disclosure provisions accordingly.

Co investment rules: terms and exit parity required; certain category fund investment limits and advisory restriction apply
Amendments define Co-investment and require that co-investments by Managers, Sponsors or investors of Category I and II funds be through a Coinvestment Portfolio Manager; co-investment terms must not be more favourable than the Fund's terms and exits must be identical for co-investments made after commencement. Category III funds face caps on investment in listed equity and in non listed securities of an investee company, with higher limits permitted for large value accredited investor funds. Managers are barred from advising investors on investee company securities except clients of the Coinvestment Portfolio Manager.

Silver exchange traded fund scheme: permits investment solely in silver instruments with custody, liquidity and valuation rules.
Introduction of silver exchange traded fund scheme permitting schemes that invest primarily in silver or silver related instruments, with custodial amendments allowing registered custodians to hold silver assets. Moneys collected must be invested only in silver or silver related instruments except for disclosed liquidity needs; pending deployment, funds may be held in short-term bank deposits. Recurring expenses expressly include storage and handling of silver. Valuation of silver is tied to the LBMA AM fixing price with metric and currency conversions and additions for transportation, handling and notional duties or a notional delivery premium.

Related party definition and transaction rules broadened; audit committee approvals and periodic disclosures strengthened under listing regulations.
The Regulations expand the related party and related party transaction definitions to include promoter group and substantial shareholders and transactions that benefit related parties; they add exclusions and specify staged applicability. Audit committees must approve related party transactions and subsequent material modifications, define "material modifications", and prior approval is required for certain subsidiary transactions based on turnover thresholds with transition rules effective from April 1, 2023. Listed entities must disclose related party transactions in a Board specified format every six months aligned with financial results, and a loans disclosure to firms/companies where directors are interested is mandated except for listed banks.

Special Economic Zone expansion: additional land notified under SEZ Act and Rules increasing the zone's total area.
Notification adds a 0.71 hectare land parcel to the existing Special Economic Zone for IT/ITES at Gachibowli Village, effected under the proviso to sub section (1) of section 4 of the Special Economic Zones Act and rule 8 of the Special Economic Zones Rules, identifies the survey number for the addition and records the revised total area of the SEZ.

Investor Education and Protection Fund Authority rules rename nominees as claimants, raise thresholds to Rs.5 lakh and tighten transmission documents.
Amendments to the IEPF Authority Rules substitute the term "nominee" with "claimant", raise the monetary threshold from Rs. 2,00,000 to Rs. 5,00,000 per issuer, and require succession certificate or equivalent court/tribunal decree for transfers above the enhanced threshold. They prescribe attestation of death certificates or transaction statements, permit companies to increase the limit by board resolution under the referenced securities schedule, modify loss-of-securities procedures (notarisation to self attestation; removal of market-value clause; increase of specified monetary figure), alter certain verification steps in disposal procedure, and replace Form IEPF-5.

GST amendment ordinance revises deemed supply, annual returns, interest liability, detention penalties, and provisional attachment powers.
The Ordinance amends the Uttar Pradesh Goods and Services Tax Act, 2017 by inserting a deemed supply provision for transactions between an entity and its members, revising input tax credit conditions, substituting the annual return framework, and limiting interest on delayed returns to tax paid through the electronic cash ledger. It also revises provisional attachment, appeal preconditions, detention and seizure penalties, information-gathering powers, and restrictions on use of information, while omitting a Schedule II paragraph retrospectively.

GST rate amendment removes specified tariff entries and alters IT software scope, with retroactive effect.
The notification amends the State GST schedules by omitting S. No. 243 and its 6% rate from Schedule II and removing the words "in respect of Information Technology software" from S. No. 452P in Schedule III, thereby changing the tariff entries and scope of those Schedule provisions; the amendment is deemed to have come into force on the earlier specified date.

GST rate changes: APGST schedules amended to reclassify goods and adjust tax treatment following council recommendations.
Amendments to the Andhra Pradesh Goods and Services Tax notification revise tariff classifications across Schedules I-IV, inserting, substituting and omitting specified entries to reassign goods among the 2.5%, 6%, 9% and 14% rate lists, including provisions distinguishing types of bio diesel, adding renewable energy devices with a value apportionment rule for bundled supplies, and expanding lists to cover specified ores, plastics scrap, printed matter, railway rolling stock categories and certain beverages.

MPGST exemption on specified COVID 19 medicines imposes nil or reduced state tax rates for a limited period.
Exempts MPGST on specified medicines referenced to Customs Tariff entries by prescribing either Nil state tax or reduced state tax rates for each listed pharmaceutical used in COVID 19 treatment; the measure is time limited, commencing on the first day of October and remaining in force through the end of December, issued by the State Government on Council recommendation in the public interest.

GST rate amendments: state notification reclassifies goods and updates tariff entries, altering applicable tax schedules.
Amendment revises Madhya Pradesh SGST rate schedules by inserting, substituting and omitting specified goods across the 2.5%, 6%, 9% and 14% lists, including additions such as tamarind seeds (non-sowing), biodiesel for blending, pembrolizumab, renewable energy devices with an allocation rule when supplied with certain services, various metal ores and railway rolling stock, and carbonated fruit beverages; the changes take effect from the stated commencement date.

Amendment to authorised importer changes the named agency permitted to import diamonds for laboratory certification and re-export.
Amendment to Para 4.42(3) of the Foreign Trade Policy 2015-20 replaces the previously listed entity authorised to import diamonds for laboratory certification, grading and re-export with a new named agency, thereby modifying the authorised importer listing while leaving applicable certification, grading and re-export procedures unchanged.

Export policy amendment: inclusion of collagen peptides and fish protein in peptone classification alters export item scope.
The item description for HS Code 35040010 at Serial No. 173 in Schedule 2 of the ITC (HS) Classification has been amended to read: "Peptones including Collagen Peptides of marine or bovine or Poultry origin (also referred to as Collagen, Collagen Hydrolysate, Hydrolysed Collagen or Hydrolysed Gelatin) and Fish Protein," thereby explicitly including collagen peptides of specified origins within the export classification.

Reverse charge mechanism: specified essential oils added to notified goods list, attracting reverse charge from October effective date.
Amendment inserts a new serial (3A) into the notification table to notify specified essential oils (including peppermint and other mint oils by tariff headings) as goods subject to the reverse charge mechanism between unregistered persons and registered persons, with the amendment effective from 1 October 2021.

Petrol and diesel tax rates revised under Schedule IV of the Uttar Pradesh Value Added Tax Act.
The Uttar Pradesh Value Added Tax Act, 2008 is amended in Schedule IV by substituting the entries for petrol and diesel oil with revised tax provisions. For petrol, the point of tax is the manufacturer or importer and the rate is 19.36% or Rs. 14.85 per litre, whichever is greater. For diesel oil, as defined in the specified sales law and in cases other than those covered by the other listed entries, the point of tax is the manufacturer or importer and the rate is 17.08% or Rs. 10.41 per litre, whichever is greater.

Special Courts designation for PMLA establishes designated CBI Anti Corruption benches to try PMLA offences across specified districts.
The Central Government, in exercise of powers under the Prevention of Money Laundering Act and in consultation with the Chief Justice of the High Court of Allahabad, designates Anti Corruption CBI courts in Lucknow and Ghaziabad as Special Courts, allocating territorial jurisdiction to those courts for trial of offences under the Act as specified in the notification's schedule.

Exemption for seeds used for sowing under APGST clarified, specifying tariff classification and excluding seeds for non sowing uses.
The Government amends the Schedule to the APGST exemption notification by substituting the relevant entry to identify "seeds, fruit and spores, of a kind used for sowing" as the exempt commodity, with an explicit explanation excluding seeds meant for any use other than sowing; the amendment is issued under the exemption power and is to be published in the Andhra Pradesh Gazette with a specified commencement date.

Exchange rate determination for customs conversion clarifies applicable foreign currency rates and treatment for imports and exports.
The Central Board prescribes specified foreign currency conversion rates into Indian rupees for customs purposes under section 14 of the Customs Act, 1962, effective 4th November, 2021, superseding the prior notification. Two schedules list distinct rates for imported and exported goods-Schedule I provides per unit rates for listed currencies and Schedule II provides per 100 unit rates-thereby fixing the conversion mechanism and separate treatment for imports and exports.

Road and Infrastructure Cess reduction on petrol and diesel implemented, substituting prior per litre cess rates effective from early November.
Amends Notification No. 04/2019 Central Excise to substitute revised per litre Road and Infrastructure Cess entries for petrol and diesel in the Table, effected under powers conferred by the Finance Act and the Central Excise Act, with the substituted rates coming into force from the stated commencement date in early November 2021.

Road and Infrastructure Cess reduction on petrol and diesel effective 4 November 2021 under Finance Act powers.
Amendment reduces the Road and Infrastructure Cess on petrol and diesel by substituting the entries in the Table to Notification No. 18/2019 Customs; the entry against Sl. No. 1 is replaced and the entry against Sl. No. 2 is replaced. The Central Government acts under the Finance Act, 2018 and the Customs Act, 1962. The notification takes effect from 4 November 2021 as a further amendment to the principal notification.