SEZ survey number revision updates parcel identifiers while preserving the originally notified area for the multi services zone.
The Central Government revised the survey numbers for a sector specific Multi Services Special Economic Zone at Gandhinagar following a District Inspector Land Records certification of a re survey; the change increases the count of survey identifiers but does not alter the originally notified area of 105.4386 hectares, and lists the revised village survey numbers with corresponding hectare allocations pursuant to statutory SEZ procedures.

IFSC banking unit licensing framework distinguishes branch and subsidiary structures, strengthening capital, liquidity, reserve, currency, and compliance obligations.
Banking Unit licensing in an International Financial Services Centre is structured around an IFSC Banking Unit operating as a branch and an IFSC Banking Company operating as a subsidiary of its Parent Bank. Indian and foreign banks require licence or permission to establish a Banking Unit. Licensing requirements distinguish between branch and subsidiary structures through prescribed Parent Bank capital, home-regulator no-objection requirements and, for an IFSC Banking Unit, a liquidity-support undertaking. Prudential obligations cover liquidity coverage, net stable funding, leverage and reserve requirements, with distinct treatment for IFSC Banking Units and IFSC Banking Companies.

Exchange Rate Determination: CBIC prescribes foreign currency conversion rates for import and export goods under Customs law.
The Central Board of Indirect Taxes and Customs, invoking powers under the Customs Act, supersedes a prior notification and prescribes the rate of exchange for specified foreign currencies into Indian rupees for import and export goods, effective from 07th July, 2023, as set out in Schedule I (per unit rates with separate columns for imported and export goods) and Schedule II (rates per 100 units for specified currencies). The supersession does not affect prior acts or omissions.

Jurisdiction of income-tax authorities revised to align investigative headquarters with specified central commissionerates.
Amendment substitutes a row in Schedule-I of Notification No.70/2014 to designate the Director General of Income-tax (Investigation), Bengaluru as the investigative headquarters and to specify the Principal Commissioner/Commissioner of Income-tax (Central) postings for Bengaluru and Panaji; effected under section 120 and coming into force from the announced effective date.

GST payment option allowed; GTAs commencing business may elect to pay GST via declaration within registration period.
The notification inserts provisos: the option to pay GST for the financial year 2023-2024 must be exercised by the prescribed deadline; and a GTA who commences business or crosses the registration threshold during a financial year may elect to pay GST for that year by submitting a declaration in Annexure V within the later of forty-five days from applying for GST registration or one month from obtaining registration.

Registration threshold reduced for GST applicability, lowering the aggregate turnover requirement effective early August, altering prior notification.
Amendment reduces the GST registration threshold under the Puducherry GST Rules by substituting the previously prescribed aggregate turnover figure with a lower figure, effective from the first day of August, 2023, through modification of the first paragraph of the earlier Commercial Taxes Secretariat notification.

De-notification of SEZ land reduces notified zone and reallocates parcels for IT/ITES allotment under SEZ rules.
The Central Government de-notifies a portion of the IT (Knowledge Park) Special Economic Zone in Khurda, Odisha under its powers under the SEZ Act and SEZ Rules following a proposal by the developer, State Government approval and the Development Commissioner's recommendation; statutory prerequisites are satisfied and the de-notified land, identified by survey and plot numbers, is to be utilized for allotment to IT/ITES companies, with the notification recording the revised total SEZ area.

De-notification of SEZ land enables reallocation to domestic IT/ITES units, reducing the notified SEZ area.
The Central Government, under the Special Economic Zones Act and rule 8 of the Rules, has de-notified 1.530 hectares of the IT/ITES SEZ at Devarabeesanahalli, Bhoganahalli and Doddakannahalli proposed by M/s. Arliga Ecoworld Infrastructure Pvt. Ltd., with State concurrence and Development Commissioner recommendation; the de-notified survey parcels (20/1, 21, 4) are to be allocated to DTA units and the notified SEZ area becomes 10.415 hectares.

IFSC ship procedure: online filing, electronic inspection reports, and deemed customs arrival enabling movement and export clearance.
Procedure prescribes online filing, assessment and electronic transmission of Bills of Entry or Shipping Bills by an IFSC Unit, with Authorised Officers assigning serial numbers and forwarding assessed filings to customs officers; customs inspection of marks and numbers and an emailed inspection report within a day constitutes deemed arrival or completion of customs out of charge. Designated places for transfer are customs areas/ports/shipyards, joint filing is required for loan or lease supplies, custody must be maintained with an approved custodian until discharge, and assessed export filings permit issuance of a Let Export Order for physical removal.

Appeal procedure for GST decisions expanded: time-limited appeals to designated Additional Commissioner appellate tiers now provided.
Amendments to Rule 109A add subrules permitting aggrieved persons to appeal orders under the State or Central GST Acts to designated Additional Commissioner appellate officers-appeals from orders of the Additional Commissioner of State Tax to the Additional Commissioner (Grade-I) (Appeals), and from orders of the Joint Commissioner (Appeals) of State Tax to the Additional Commissioner (Appeals)-within a prescribed period from communication. A corresponding subrule permits officers directed to appeal to file appeals to the same respective Additional Commissioner appellate tiers within a separately prescribed period from communication of the order.

Regulatory repeal of ombudsman rules preserves existing rights, liabilities, penalties and allows continuation of proceedings as before.
The 2023 Regulations repeal the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 with commencement on publication in the Official Gazette, while a savings clause preserves prior operation, accrued rights, privileges, obligations, liabilities, penalties and punishments, and allows investigations, legal proceedings and remedies to be instituted, continued, enforced or imposed as if the 2003 Regulations had not been repealed.

Dispute resolution requirement: regulated entities must submit client and investor disputes to mediation, conciliation, or arbitration under Board procedure.
All regulated intermediaries and entities must submit claims, differences or disputes with clients, investors or counterparties arising from securities-market activities to a dispute resolution mechanism comprising mediation and/or conciliation and/or arbitration, to be conducted in accordance with the procedure specified by the Board; trust-structured vehicles receive express protection that managers, trustees or officers shall not have loss, damage or expenses met from trust property in relation to dispute resolution.

ESG rating provider registration required: mandatory certification, disclosure, governance and conflict of interest safeguards for ESG ratings.
Regulations create a statutory regime for ESG rating providers requiring Board-issued certificates in specified categories, adherence to eligibility and prudential criteria (including corporate form, liquid net worth, specialist staffing, compliance officer and fit and proper promoters), restrictions on activities and shareholdings, and submission of a business plan. Registered providers must publicly disclose methodologies, category and E/S/G weightages, maintain records, monitor and periodically review ratings, prevent and mitigate conflicts of interest, ensure independence of rating decisions, and furnish financial and operational information to the Board as prescribed.

Private placement disclosure requirements restructured: general information document plus key information document govern listing of non-convertible securities.
The Regulations expand definitions for key managerial personnel and senior management, omit certain clauses and Schedule II, and insert Chapter VA requiring issuers offering non-convertible securities on private placement to file a one year valid general information document and, for subsequent offers during that validity, a key information document. Filing is on a "comply or explain" basis during the transitional period and mandatory thereafter; shelf placement memoranda or shelf prospectuses in force can exempt general information document filing so long as the key information document is filed. Schedule I is substituted to prescribe comprehensive, standardized disclosures for public and private offers, including financial statements, risk factors, security and covenant details, and issuer responsibility statements.

National Savings Monthly Income Account limits updated: paragraph 4(3) amounts replaced with nine lakh and fifteen lakh.
The amendment substitutes the amounts in paragraph 4(3) of the National Savings (Monthly Income Account) Scheme, 2019: "four lakh fifty thousand" is replaced by "nine lakh" and "nine lakh" is replaced by "fifteen lakh", thereby modifying the numeric limits specified in that provision.

Import of Fresh Areca Nut allowed from Bhutan through Jaigaon and Chamurchi with port-specific DGFT registration and MIP exemption.
The amendment authorises import of a designated annual quantity of fresh (green) Areca nut from Bhutan without Minimum Import Price (MIP) subject to route and registration conditions, adds Land Customs Station Chamurchi as an authorised entry point alongside Jaigaon, and requires a port-specific Registration Certificate issued by DGFT for imports through Chamurchi; prior DGFT notification and public notice conditions applicable to Jaigaon are extended to Chamurchi. EOUs and SEZ units remain exempt from MIP subject to no DTA sales.

Import permission for potatoes from Bhutan extended without license under a revised import policy condition.
Import of fresh or chilled potatoes under ITC(HS) code 07019000 from Bhutan is permitted without an import licence, extending the prior temporary exemption to a revised expiry date; the item remains listed as Restricted in Chapter 07 of ITC(HS), 2022, Schedule I (Import Policy), and the amendment is effected under the Foreign Trade Act and Foreign Trade Policy provisions with ministerial approval.

Late fee rationalisation for GST annual returns: capped per-day penalties and waiver for retroactive filers within the compliance window.
The notification caps per-day late fees for annual GST returns from 2022-23 onward by turnover class, with an overall cap tied to in-state turnover; it also waives late fee amounts exceeding a stated threshold for taxpayers who retroactively file specified prior-year returns during the designated voluntary filing period.

Agriculture Infrastructure and Development Cess imposed on liquified propane and butane imports, exempting public oil companies supplying households.
Amendment inserts a new Customs schedule entry prescribing the AIDC rate for liquified propane and liquified butane imports, and exempts imports (including mixtures) by Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited when intended for supply to household domestic consumers or Non Domestic Exempted Category customers; a further proviso excludes application of a related table entry to liquified petroleum gas imports by those refiners for supply to household or NDEC customers.

Concessional customs duty on liquified propane and butane introduced, amending tariff notification and effective immediately.
The notification amends Notification No. 50/2017-Customs by inserting a new tariff table entry for specified tariff headings covering liquified propane and liquified butane and prescribing a concessional basic customs duty for those imports. The amendment is issued under section 25 of the Customs Act, 1962 and section 3(12) of the Customs Tariff Act, 1975 as necessary in the public interest and is effective immediately.