Cross-border payments must route through authorised banks with country-specific currency rules and ACU settlement options.
Regulations require receipts and payments between residents in India and non-residents to be made through an Authorised Bank or Authorised Person, with the Reserve Bank able to permit exceptions on application. Trade transactions have country-specific settlement rules: Nepal and Bhutan in Indian currency (with limited exceptions), ACU members via the ACU mechanism or RBI directions, and non-ACU countries in Indian currency or foreign currency. Non-trade transactions mirror these country-specific currency rules, and current account transactions with visitors must be in Indian currency; payments may also be by debit/credit to permitted bank accounts.

Specified actionable claim exemption extended to betting, gambling and online money gaming under GST notification amendments.
Insertion of Schedule entry 227A treats specified actionable claim as covered, defining it by reference to section 2(102A) of the Rajasthan GST Act to include betting, casinos, gambling, horse racing, lottery and online money gaming; prior Schedule entries 228 and 229 are omitted. An interpretive clause adopts Act definitions for undefined terms in the notification. The amendment takes effect on the first day of October, 2023.

Value of supply for online money gaming defined as total amounts paid or deposited, refunds not deductible.
The amendment requires registration and specified disclosures for suppliers of online money gaming and cross-border online information services, mandates FORM GSTR-5A returns for non-resident suppliers of such services, and prescribes valuation rules treating the value of online gaming and online money gaming (including actionable claims) as the total amount paid or deposited by or on behalf of the player, including virtual digital assets, with refunds or returned amounts not deductible and winnings retained for further play not treated as fresh consideration.

Composition levy exclusion: suppliers of specified actionable claims cannot avail the composition scheme, altering composition eligibility.
The notification inserts that, other than the registered person making supply of specified actionable claims as defined in the statute, the composition levy under section 10 shall not apply; this insertion, effective from 1st October, 2023, excludes suppliers of specified actionable claims from composition scheme eligibility.

Supply classification: online money gaming and related gaming supplies notified under valuation provision for tax.
Notification designates supply of online money gaming, supply of online gaming other than online money gaming, and supply of actionable claims in casinos as notified supplies under the valuation provision, with an operative commencement date making these categories subject to the valuation framework for taxation.

Commencement of Rajasthan GST Amendment Ordinance appointed as effective date, bringing specified amendments into force from October first.
The State Government, under sub section (2) of section 1 of the Rajasthan Goods and Services Tax (Amendment) Ordinance, 2023 (Ordinance No. 1 of 2023), appoints the 1st day of October, 2023 as the date on which the provisions of the Ordinance shall come into force, by notification of the Finance Department (Tax Division).

Extension of GSTR-3B filing deadline for taxpayers in specified Tamil Nadu districts to late December.
Extension of the due date for furnishing FORM GSTR-3B for November 2023 is granted for registered persons whose principal place of business is in the districts of Chennai, Tiruvallur, Chengalpattu and Kancheepuram, moving the deadline to the twenty-seventh day of December, 2023, under powers conferred by the Central Goods and Services Tax Act, 2017 and pursuant to the Council's recommendation.

Online gaming taxation rules expand supplier liability and registration obligations under the Uttar Pradesh GST amendment.
The Uttar Pradesh Goods and Services Tax (Second Amendment) Act, 2023 aligns the State GST law with Central GST amendments and regulates online gaming and specified actionable claims. It inserts definitions for online gaming, online money gaming, specified actionable claim, and virtual digital asset, and deems a person organising or arranging supply of specified actionable claims, including through a digital or electronic platform, to be a supplier liable under the Act. The amendment also extends registration obligations to suppliers of online money gaming from outside India to persons in India.

Safe harbour for intra-group loan interest updated: new reference rate benchmarks and credit rating spread tiers ensure rate compliance.
Amendments redefine intra-group loan to exclude loans from financial institutions and open-ended facilities, revise treatment of income and loss on transfer of non-depreciable assets, and replace the foreign currency intra-group loan safe harbour with a tiered interest schedule. The schedule requires interest not less than the relevant currency reference rate as of the prescribed date plus credit rating based spreads that vary by aggregate loan exposure, and an Explanation specifies the benchmark reference rates and rules for determining applicable credit ratings.

Exchange Rate Adjustment for Norwegian Kroner alters import and export conversion rates under Customs Act.
The Central Board of Indirect Taxes and Customs, exercising powers under the Customs Act, substitutes the entry for Norwegian Kroner in Schedule I of Notification No. 90/2023 CUSTOMS (N.T.), prescribing distinct conversion rates for imported goods and for exported goods. The substitution is effected by Notification No. 92/2023 Customs (N.T.) and takes effect from the specified effective date, requiring application of the revised exchange rates in customs valuation and related customs procedures.

Special Additional Excise Duty revised on petrol and diesel; amendment substitutes the per litre rate and takes effect on a specified date.
Amends the Special Additional Excise Duty table in Notification No. 04/2022-Central Excise by substituting the entry in column (4) against S. No. 2 to a specified per litre duty; amendment issued under the Central Excise Act and the Finance Act and to take effect on the stated date.

SAED rate revision on petroleum crude alters specified tariff entries and takes effect shortly under amended central excise notification.
The Ministry of Finance amends Notification No. 18/2022 Central Excise to revise SAED entries: substituting in the Table, for S. No. 1 column (4) "Rs. 1300 per tonne" and for S. No. 2 column (4) "Rs. 1 per litre". The amendments are made under section 5A of the Central Excise Act, 1944 read with section 147 of the Finance Act, 2002, and shall come into force on the 19th day of December, 2023.

Tax rule amendment adds POWERGRID Infrastructure Investment Trust units as a permitted form of investment under income-tax rules.
Amendment to the Income-tax Rules inserts a clause in Rule 17C specifying that investment by way of acquiring units of POWERGRID Infrastructure Investment Trust is a permitted form of investment, effected by a CBDT notification under the board's rulemaking power and coming into force on publication in the Official Gazette.

Notification abeyance: prior GST notification placed in abeyance, effective from December, pending further notice, administrative action.
Notification keeps Notification No. 02/2023-C.T./GST dated 10.11.2023 in abeyance until further notification, citing public interest, and declares the measure deemed to have come into force from 1 December 2023, issued by the Commissioner of State Tax.

Exemption from annual return filing for small registered persons in 2022-23 now effective from late July.
Exempts registered persons whose aggregate turnover in FY2022-23 up to two crore rupees from filing the annual return for that year under the statutory proviso, by Commissioner's notification issued on the Council's recommendation; the exemption is deemed effective from 31 July 2023.

Special appeal procedure for transitional credit appeals: manual filing, no deposit precondition, acknowledgement and summary required.
Special appeal procedure under Section 107(2) PGST Act regulates manual filing in duplicate of appeals against orders under Sections 73/74 concerning transitional credit claims in the form at ANNEXURE-1, deemed filed only upon issuance of FORM GSTAPL-02 acknowledgement; time for filing is from the later of the notification date or order date, prior appeals deemed compliant, no deposit required as pre condition, and the Appellate Authority must provide an ANNEXURE-2 summary with its order.

Amendment to notification extends deadline by substituting the applicable date and deems it effective retrospectively.
The amendment replaces the earlier date "30th day of June, 2023" with "31st day of August, 2023" in the cited notification, extends the applicable deadline, and declares the amendment to be deemed effective from the 30th day of June, 2023, thereby giving the change retrospective effect.

Notification amendment extends statutory deadline and declares retroactive effectiveness to the earlier operative date specified.
Amendment substitutes the proviso date from 30th June 2023 to 31st August 2023, extending the deadline set in the earlier notification. Issued under section 128 of the relevant GST Act, the notification declares the amendment to be deemed effective from 30th June 2023, giving the substitution retroactive effect.

Extension of statutory deadline: notification substitutes an earlier deadline with a later date and deems it retroactive.
Amendment under section 148 substitutes the earlier cut off date in Notification No. S.O. 68/P.A.5/2017/S.148/2023 with a later cut off date, and declares that the amendment is deemed to have come into force on and with effect from the original earlier cut off date, thereby creating retrospective effect for the substituted deadline.

Extension of statutory deadline: notification date substituted and deemed to operate from the original effective date.
Amendment substitutes a later specified date for the original specified date in Notification No. S.O. 67/P.A.5/2017/S.148/2023, thereby extending the deadline set by that notification. Issued under statutory executive authority on public interest grounds, the amendment is expressly deemed to have come into force from the original effective date of the prior notification, giving the substitution retrospective effect.