Control of income-tax authorities under section 118 amended to omit specified Schedule entries, effective on publication.
Amendment under section 118 removes specific Schedule entries in Notification No.60/2022: in SCHEDULE serial number seven, column (3), item (ii) omits the entries at item (iv) in column (4) and the related entries in column (5); and item (v) omits the entries at item (iv) in column (4) and the related entries in column (5). The amendment is effective from publication in the Official Gazette.

Jurisdictional reallocation of income-tax authorities restructures chief and principal commissioner jurisdictions after notification amendment.
Amendments modify the Schedule to the principal notification under section 118 and section 120, omitting a clause in Sl. No. 6, substituting the entire entry at Sl. No. 7 with a revised Chief Commissioner designation and an enumerated list of subordinate Principal Commissioner/Commissioner jurisdictions, and replacing entries at Sl. Nos. 32 and 34 with updated Chief Commissioner designations, headquarters and corresponding Principal Commissioner/Commissioner jurisdictions; changes take effect from publication in the Official Gazette.

Faceless assessment powers amended to omit specified unit entries from the notified schedule, altering concurrent assessing officer designations.
The Central Board of Direct Taxes amends Notification No. 61/2022 by omitting Sl. No. 2259-2286 and Sl. No. 2592-2612 and their related entries from the Schedule that lists units whose income-tax authorities exercise the powers and functions of Assessing Officers concurrently. The amendment is made under statutory delegation and comes into force upon publication in the Official Gazette, with a note referring to the principal notification.

Refund withdrawal: applicants may withdraw refund claims and have ledger debits restored under amended GST refund procedures.
Amendments amend Punjab GST rules to exclude the period between filing FORM GST RFD-01 and communication of deficiencies in FORM GST RFD-03 from the two-year refund limitation for rectified fresh claims; permit taxpayers to withdraw refund applications before issuance of sanction, payment, withholding, or notice by filing FORM GST RFD-01W; and require that any ledger debits made when filing the refund claim be credited back upon withdrawal. The revision also substitutes FORM GST RFD-07 to provide separate withholding and release parts and allows officers to release withheld refunds when withholding conditions cease to exist.

GST rule amendment extends compliance date, exempts certain late filers from restriction, and updates assessment form wording.
The Thirteenth Amendment (deemed effective 29 August 2021) amends Punjab GST Rules: Rule 26 replaces the proviso date from 31 August to 31 October and omits all provisos from 1 November; Rule 138E now provides that the restriction does not apply from 1 May to 18 August where returns in FORM GSTR 3B, FORM GSTR 1 or FORM GST CMP 08 for March-May were not furnished; FORM GST ASMT 14 is updated to permit an order reference line, remove wording about conducting business without registration, and add an Address field after Designation.

GST amendment extends filing deadlines and allows cumulative input tax credit adjustment in GSTR-3B and May IFF filings.
Amendment to Punjab GST Rules, effective 1 June 2021, extends the deadline in rule 26 to 31 August 2021, mandates that the condition in rule 36(4) apply cumulatively for April-June 2021 with FORM GSTR-3B for June 2021 furnished including cumulative input tax credit adjustments for those months, and allows submission of May 2021 details via IFF between 1 June and 28 June 2021 under rule 59(2).

Cumulative input tax credit adjustment requires consolidated GSTR-3B reporting and allows a limited IFF window for prior-period inputs.
The amendments require the condition for availing input tax credit to apply cumulatively for April and May 2021 and direct that FORM GSTR-3B for May 2021 be furnished with the cumulative adjustment of input tax credit for those months. Separately, a proviso permits registered persons to furnish April 2021 details using the Input Furnishing Facility (IFF) from the first day of May 2021 until the 28th day of May 2021.

Return filing option for companies allowed to use GSTR-3B and GSTR-1/Invoice Furnishing Facility verified by EVC.
Amendment to rule 26(1) permits persons registered under the Companies Act, 2013, for the period 27 April 2021 to 31 May 2021, to furnish the return under section 39 in FORM GSTR-3B and details of outward supplies under section 37 in FORM GSTR-1 or via the Invoice Furnishing Facility, provided such filings are verified through Electronic Verification Code (EVC); the amendment is deemed effective from 27 April 2021.

Return filing requirement for outward supply details restricts GSTR-1 and invoice facility use until prior GSTR-3B is filed.
The amendment conditions furnishing of outward supply details on prior return compliance: a registered person cannot furnish outward supplies in FORM GSTR-1 if FORM GSTR-3B was not filed for the relevant preceding period; quarterly filers who report under the proviso to section 39 are similarly barred from using FORM GSTR-1 or the invoice furnishing facility without filing the preceding FORM GSTR-3B; and persons restricted under rule 86B from using the electronic credit ledger are prevented from furnishing outward supply details via FORM GSTR-1 or the invoice furnishing facility unless the preceding FORM GSTR-3B has been filed.

One Time Settlement Scheme extension permits delayed applications, settlement payments, and interest-free monthly instalments for disputed legacy tax.
The Telangana One Time Settlement Scheme, 2022 for disputed tax under legacy Acts is extended. Applications may be made up to 30 November 2022, arrears may be scrutinised and intimated up to 15 December 2022, and settlement letters with agreed payment may be submitted up to 31 December 2022. Payable amounts may be discharged in four equal interest-free monthly instalments. Existing applicants who have not paid the first instalment or applicable lump-sum amount may pay by 31 December 2022.

Tariff value fixation for edible oils, gold, silver, brass scrap and areca nut set, altering import valuation consequences.
The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, 1962, has amended Notification No. 36/2001-Customs (N.T.) by substituting TABLE-1, TABLE-2 and TABLE-3 to fix tariff values for specified imports - including edible oils, brass scrap, areca nut, and specified forms of gold and silver - for application in customs valuation. The amendment comes into force on 12th November, 2022.

Special Courts designation for Income-tax and Black Money Act prosecutions establishes specified magistrate courts with territorial jurisdiction.
The Central Government, in consultation with the Chief Justice of the High Court of Himachal Pradesh, designates specified Courts of Judicial Magistrate 1st Class at Dharamshala, Rampur and Nahan as Special Courts to exercise jurisdiction within the listed territorial areas for offences under the Income-tax Act and the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act.

Tariff value fixation: import values set for edible oils, brass scrap, gold, silver and areca nut effective mid-November.
Central Board of Indirect Taxes & Customs amends the non-tariff notification by substituting Tables 1-3 to set specified US dollar tariff values for designated imports-edible oils (various palm oils and crude soybean oil), brass scrap (all grades), areca nut, and gold and silver in specified forms-with certain explanatory exclusions; the substituted tables confirm the stated values and the notification takes effect from 11th November 2022.

Commencement of amendment: section 13 of the Goa GST Act brought into force by government notification under commencement power.
Brings section 13 of the Goa Goods and Services Tax (Amendment) Act, 2022 into force by invoking the power under sub section (2) of section 1 of the Act and appointing the fifth day of July, 2022 as the date on which section 13 shall come into force, effected by government notification.

Extension of return filing deadline for FORM GSTR-3B for September 2022 to 21 October under section 39(6).
The Commissioner, exercising powers under section 39(6) of the Delhi Goods and Services Tax Act, 2017 and on the Council's recommendation, extends the due date for furnishing the return in FORM GSTR-3B for registered persons required to file under the primary filing obligation and applicable rule, setting the new due date for the September 2022 return as the 21st day of October, 2022.

Online bond platform registration requires stock broker certification and compliance, with limited transitional relief for existing operators.
Operators of online bond platforms must obtain a certificate of registration from the Board as a stock broker and comply with registration conditions and additional requirements specified by the Board. The Chapter defines online bond platform providers and platforms as electronic systems, excluding recognised stock exchanges and electronic book providers, where listed or proposed debt securities are offered and transacted. Existing operators without registration may continue to operate for a limited transitional period or until disposal of a timely application.

InvITs prohibited from engaging in Chapter VIA activities; issuance rules narrowed and Board empowered to grant listing exemptions.
No InvIT shall undertake any activity under Chapter VIA. Multiple issuance-related sub-regulations in regulations 17, 22, 26A, 26B, 26C and 26D are omitted or edited to narrow issuance procedures. Regulation 26F is renumbered and a new sub-regulation empowers the Board to grant exemptions to InvITs that have issued units under the Chapter to facilitate listing on a recognized nationwide stock exchange.

Sponsor holding requirement strengthened; sponsors remain liable for formation and asset transfers to the REIT.
Sponsors and sponsor groups must collectively retain a prescribed minimum stake in the REIT for a defined post-listing lock-in, with any excess holdings subject to an additional retention period; sponsors and sponsor groups remain liable to the REIT, trustees and unit holders for acts, omissions, representations or covenants related to the REIT's formation and to the sale or transfer of assets, holdcos or SPVs to the REIT irrespective of any contractual provision.

Fee amendments reduce prescribed fees for foreign portfolio and venture capital investors under SEBI regulations, effective immediately.
SEBI amends the Payment of Fees regulations effective 1 November 2022 by substituting specified fee amounts in the Second Schedule of the Foreign Portfolio Investors Regulations, 2019 (reducing amounts in Part A clause 1 and Part C clause 1), and by substituting Part A of the Second Schedule to the Foreign Venture Capital Investors Regulations, 2000 with a table prescribing the application fee and registration fee for foreign venture capital investors.

Price determination exception for public sector disinvestment where control changes; bank guarantees permitted for open offers.
The amendment carves out an exception to the open offer price determination for disinvestment of a public sector undertaking by the Central or a State Government where there is a change in control, and permits unconditional, irrevocable bank guarantees from scheduled commercial banks-subject to Reserve Bank approval-as an alternative to cash for open offer obligations, provided such banks have an AAA rating on long term debt from a credit rating agency registered with SEBI.