Export policy amendment requires veterinary-certified sourcing for animal by-products exported for pet food, adding new compliance condition.
A new policy condition requires animal by-products destined for pet food exports to originate from APEDA-registered integrated abattoirs or municipal slaughterhouses subject to post-mortem inspection and segregation. Suitability must be certified by the state designated veterinary authority based on inspections by veterinarians registered under the Indian Veterinary Council Act, employed by the slaughtering unit and supervised by the designated state/UT veterinary authority. Specified ITC(HS) codes for pet food and compounded animal feed are amended to be subject to both Policy Condition 1 and the new Policy Condition 2.

Motor Vehicle Accident Fund insurance services receive GST exemption, alongside technical, training-partner, and definitional amendments.
Delhi's GST exemption framework grants nil-rated treatment to insurance services supplied by the Motor Vehicle Accident Fund where insurers make contributions from third-party motor vehicle insurance premiums. It also expands the relevant training-service exemption to include training partners approved by the National Skill Development Corporation, substitutes "transmission or distribution" for "transmission and distribution", omits item (w) from the definitions paragraph with effect from 1 April 2025, and adopts the Insurance Act meaning of "insurer".

Special Public Prosecutor appointment for PMLA cases: Assistant Legal Advisor authorised to conduct Directorate of Enforcement prosecutions nationwide.
The Central Government, invoking the proviso to sub-section (1) of section 46 of the Prevention of Money-laundering Act, 2002 read with clause (v) of sub-section (1) of section 2 and sub-section (8) of section 18 of the Bhartiya Nagarik Suraksha Sanhita, 2023, appoints an Assistant Legal Advisor as Special Public Prosecutor to conduct cases on behalf of the Directorate of Enforcement before the Special Courts under the Prevention of Money-laundering Act, 2002 throughout India.

Appointment of Special Public Prosecutors for Prevention of Money laundering Act prosecutions: designated advocates empowered to prosecute within specified jurisdictions and tenures.
Appointment of advocates as Special Public Prosecutors under the Prevention of Money laundering Act, 2002 to conduct prosecutions on behalf of the Directorate of Enforcement before Special Courts, with each appointee identified by name, designated territorial jurisdiction, and a specified tenure terminating on the date shown against their name.

Scheme notice and merger eligibility revised: new notice, auditor certificate requirement, and specified filing and reporting procedures apply.
Rule 25 is amended to require a prescribed notice (Form CAA.9) inviting objections from the Registrar, Official Liquidator, sectoral regulators where applicable, stock exchanges for listed companies and affected persons; to create simplified eligibility routes for certain unlisted company mergers and specified holding-subsidiary combinations subject to outstanding financing and no-default conditions certified by an auditor in Form CAA-10A; to mandate filing of approved schemes, meeting results and valuer reports in Form CAA.11 (as attachment to Form RD-1) within the stipulated post-meeting period with fees and statements addressing regulator or exchange objections; and to extend these provisions mutatis mutandis to schemes under section 232, with Annexure Forms CAA-9 to CAA-12 replaced by updated templates.

Legislative corrigendum corrects drafting and typographical errors in the Income-tax Act, 2025 and the Bills of Lading Act, 2025.
Corrigendum correcting multiple drafting and typographical errors in the Income-tax Act, 2025, including replacement, insertion, deletion and grammatical corrections to words and phrases across specified pages, lines, headings and marginal notes. A further corrigendum corrects the Bills of Lading Act, 2025 by substituting "done or taken" for "or taken" in the published Gazette version.

Tax exemption for specified educational board income expands to fee and interest receipts, subject to non-commercial and filing conditions.
Notification under clause (46) of section 10 grants tax exemption to the Central Board of Secondary Education, Delhi for specified income heads-examination fees; affiliation fees; registration, sports, training and academic receipts; receipts from Board projects/programmes; interest on deposits/securities/loans and income tax refunds; and interest on those receipts-subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and specified return filing for the notified financial years.

Tax exemption for specified income limits relief to fees, subscriptions and interest while imposing non commercial and filing conditions.
Notification grants tax exemption under clause (46) of section 10 to Maharashtra State Pharmacy Council for specified income limited to fees and subscriptions and interest income, subject to conditions that it shall not engage in commercial activity, the activities and nature of specified income remain unchanged, and it files income-tax returns as required under clause (g) of sub-section (4C) of section 139; the notification is given retrospective effect for the financial years listed and includes a certification that no person is adversely affected by retrospective operation.

Tax exemption for specified public receipts conditioned on noncommercial activity and mandated return filing.
Notification exempts specified receipts of The Commissioners for the Rabindra Setu under section 10(46), covering municipal and railway tax proceeds, rental and maintenance and related miscellaneous receipts, and interest on bank deposits, subject to conditions that the body refrain from commercial activity, keep activities and income unchanged during the relevant years, and comply with the prescribed income tax return filing requirement.

Tax exemption under section 10(46A) grants Lucknow Development Authority relief, effective from assessment year 2024-25.
Notification under section 10(46A)(b) designates Lucknow Development Authority (PAN AAALL0016F) as an authority for clause (46A), effective from assessment year 2024-25, conditional on its continued constitution under the Uttar Pradesh Urban Planning and Development Act, 1973 and its continuance in having one or more purposes specified in sub-clause (a) of clause (46A). The explanatory memorandum certifies that no person is adversely affected by giving retrospective effect to the notification.

Disclosure Document requirement: portfolio managers must provide Board-specified disclosure and Form C before client agreement.
Regulation 22(3) requires the portfolio manager to provide the Disclosure Document in the Board-specified format along with a certificate in Form C as specified in Schedule I, prior to entering into the client agreement; Regulation 20 now references Schedule IV and Schedule V is deleted.

Valuation and disclosure regime updated for InvITs, imposing periodic valuation and reporting obligations where borrowings exceed threshold.
Amendments redefine public for InvITs, adjust minimum private placement investment thresholds, and revise valuation and disclosure timelines: full valuations at financial year end, half year valuations to be submitted with quarterly results for the September quarter, and quarterly valuations required where consolidated borrowings and deferred payments exceed a specified threshold; valuation reports must be submitted simultaneously to the designated stock exchange(s) and the trustee and reporting timelines are made subject to times specified by the Board.

Definition of public for REITs reshaped, valuation and reporting timelines aligned with financial-result filings and disclosure tightened.
Amendments redefine public to exclude related parties, sponsors and manager while allowing qualified institutional buyers to qualify as public in offers; mandate that full annual and specified half-year valuation reports be submitted by the manager to designated stock exchange(s) alongside annual or specified quarterly financial results, require simultaneous submission of certain valuation reports to trustees and stock exchanges, and permit holdcos with negative net distributable cash flow to adjust against SPV cash flows subject to Board-specified disclosure requirements.

Delisting of public sector undertakings: fixed-price process with valuation-based floor and mandatory premium over valuation.
Delisting of public sector undertakings (excluding banks, NBFCs and insurers) must be by fixed-price process, approved by shareholders via special resolution through postal ballot or e-voting, with an explanatory statement. The acquirer together with other public sector undertakings must meet the prescribed shareholding threshold. The floor price is the highest of recent volume weighted acquisition price, highest recent acquisition price, and a joint valuation price from two independent registered valuers, and the delisting price must include a mandatory premium over that floor. Provisions govern transfer and holding of unpaid amounts and their eventual transfer to investor protection funds where a voluntary strike-off occurs within the specified post-delisting window.

Investor protection fund funding source expanded: delisting-proceeds transfers now formally included as eligible contributions to the fund.
An amendment adds an explicit eligible-transfer provision to the Investor Protection and Education Fund to include monies transferred under the delisting framework, and updates cross-references in the Fund's eligibility and proviso provisions so the new transfer clause is cited alongside existing clauses; the amendment takes effect on publication in the Official Gazette.

Renewal of recognition for a clearing corporation is granted, subject to ongoing compliance with SEBI conditions and oversight.
Renewal of recognition is granted to National Commodity Clearing Limited as a clearing corporation for a fixed three-year period commencing in September 2025 under Regulation 12, on the basis that renewal is in the interest of trade, the securities market and the public, and is subject to the condition that the Clearing Corporation shall comply with conditions specified by the Securities and Exchange Board of India from time to time and any further conditions that may be prescribed.

Computation of minimum investment updated: temporal references extended to later assessment years for exempt income rules.
Amends rule 2DCA of the Income tax Rules, 1962 to revise temporal references used in computing minimum investment and exempt income under clause (23FE) of section 10 by substituting earlier terminal years with later ones in sub rules (2), (3) and (4) and by updating calendar year references in Explanation 1 clauses (d), (e) and the proviso to clause (h); the amendment is effective on publication.

Tariff value fixation updated for edible oils, brass scrap, precious metals and areca nut; new values effective end of August.
The Central Board of Indirect Taxes & Customs substitutes revised TABLE 1, TABLE 2 and TABLE 3 into the principal non tariff notification to set tariff values for specified edible oils, brass scrap, designated categories of gold and silver (with scope and exclusions), and areca nut; these revised benchmark US dollar tariff values apply for import valuation purposes and take effect from 30th August, 2025.

Customs exemption extension for raw cotton deadline extended, altering the terminal date of the existing notification.
Central Government, exercising powers under sub-section (1) of section 25 of the Customs Act, 1962 read with section 124 of the Finance Act, 2021, amends an earlier notification by substituting the terminal date in paragraph 2 to extend the operative period of the customs duty exemption on raw cotton.

Export Obligation period change extends EO for inputs under mandatory QCOs, aligning EO duration with Handbook provisions.
Amendment to Para 2.03(A)(i)(g) removes the 180-day EO restriction for inputs subject to mandatory Quality Control Orders and prescribes that the Export Obligation period for such Advance Authorisations shall henceforth follow the timeline specified in the Handbook of Procedures, thereby extending the EO applicable to those products from the previous six-month limit to the Handbook-prescribed duration.