Annual return exemption for small taxpayers removes filing obligation for eligible registrants for the relevant financial year.
Registered persons with aggregate turnover up to two crore rupees are exempted from filing the annual return for FY 2021-22 under the proviso to the annual return requirement of the State GST law; the exemption is effective from 5th July, 2022 and issued by notification as an administrative compliance relaxation for eligible small taxpayers.

Commencement of Section under Maharashtra GST Amendment: government appointed a commencement date for the provision to take effect.
The Government of Maharashtra, invoking sub section (2) of section 1 of the Maharashtra Goods and Services Tax (Amendment) Act, 2022, by Notification No. 09/2022 State Tax dated 22nd September 2022, appoints the 5th day of July, 2022 as the date on which the provisions of section 13 of the Amendment Act shall come into force.

De notification of SEZ area: central rescission ends IT/ITES SEZ designation allowing repurposing for domestic IT infrastructure.
Central Government rescinds the prior SEZ notification and de notifies the entire remaining SEZ area of 32.2558 hectares at Pallippuram and Vailoor, Kerala, acting under the Special Economic Zones Rules. The rescission follows the developer's proposal, a State No Objection Certificate, and the Development Commissioner's recommendation, and notes the corrected land extent and the intended post de notification use for supporting domestic IT infrastructure, while preserving effects of acts done before rescission.

De-notification of SEZ land permits reallocation to another SEZ after required statutory approvals and recommendations.
The Central Government, exercising powers under the Special Economic Zones Act, 2005 and SEZ Rules, 2006, de-notifies 34.83 hectares from the sector-specific granite processing SEZ in Krishnagiri, Tamil Nadu, after State approval and Development Commissioner recommendation, reducing the SEZ's notified area to 60.71 hectares and allocating the de-notified land to M/s. Cheyyar SEZ; specific survey field numbers for the de-notified parcels are listed in the notification.

SEZ de-notification reduces designated area, enabling conversion of vacated land for crude oil terminal development.
The Central Government, under the Special Economic Zones Act and rule 8 of the SEZ Rules, partially de-notifies 48.5830 hectares from the Mundra Multi-Product SEZ proposed by M/s. Adani Ports and Special Economic Zone Limited, resulting in a revised SEZ area of 8234.1840 hectares; the State Government approved the proposal, the Development Commissioner recommended it, and the developer intends to use the de-notified parcel for crude oil terminal storage, with statutory requirements under the Act satisfied.

Inland Container Depots designated to perform unloading of imports and loading of exports at an added depot location.
The Central Board amends Notification No. 12/97-Customs (N.T.) by inserting a new entry designating a taluka in Morbi district as an inland container depot authorized for unloading of imported goods and loading of export goods, under powers conferred by the Customs Act; a corrigendum corrected the taluka name.

Anti dumping duty on Toluene Di isocyanate continued to address dumped imports and injury to domestic industry.
Continuation of an anti-dumping duty on Toluene Di isocyanate (tariff item 2929 10 20) from China PR, Japan and Korea RP is ordered after a sunset review found continued dumping and injury; producer and country specific duty rates in US dollars per kilogram are specified in a tabular schedule, and the duty is to be levied for five years from Gazette publication, payable in Indian currency with exchange conversion as notified under the Customs Act.

Amendment of producer name updates anti-dumping duty notification for HFC component R-32 imports to reflect cooperating producer name change.
A request to substitute the cooperating producer name in the anti-dumping duty notification for HFC component R-32 was held to be a name change only. The designated authority found no ownership change altering the business's basic nature and recommended amendment. The Central Government amended Notification No. 75/2021-Customs (ADD), substituting "Zhejiang Quhua Fluor-Chemistry Co., Ltd." for "Zhejiang Quzhou Juxin Fluorine Chemical Co., Ltd." in the duty table under the Customs Tariff Act and applicable anti-dumping rules.

Fee and reporting obligations: increased renewal periodicity, higher contribution rates, and new quarterly reporting for insolvency professionals.
Amendments effective 1 October 2022 revise registration periodicity and strengthen fee, contribution and reporting obligations for insolvency professionals and insolvency professional entities. Renewal periodicity reference is increased to twenty years; regulation 7 prescribes five-year renewal fee cycles, elevates entity and individual fee rates, substitutes the professional-fee contribution rate to one per cent., and introduces a quarterly fee for entities under regulation 7(2)(cb) payable within thirty days with a corporate-debtor-wise statement in Form EA. Form G is substituted to accommodate annual entity reporting and payment reconciliation.

Regulatory fee on resolution plans where recoveries exceed liquidation value, plus fee on professional service costs payable to Board.
A regulatory fee is payable to the Board where an approved resolution plan yields a realisable value to creditors exceeding liquidation value, applicable to plans approved on or after the commencement date. Additionally, a regulatory fee is payable on the portion of insolvency resolution process costs for hiring professionals or other services by the interim resolution professional or resolution professional, with payment to be made in the manner specified for insolvency professional fee collections.

Information utility fee obligation revised: higher turnover-based fee and interest on delayed payment effective October.
Amendment raises monetary thresholds in Regulations 4 and 6 of the Information Utilities Regulations, 2017 and prescribes that an information utility must pay an annual fee equal to ten percent of turnover from information utility services for the preceding financial year on or before 30 April each year, with simple interest payable on delayed payments; the amendments take effect from 1 October 2022.

CSR Committee requirement expanded: companies with unspent CSR funds must constitute committees and follow CSR governance rules.
The amendment mandates that any company with amounts in an Unspent Corporate Social Responsibility Account under section 135(6) must constitute a CSR Committee and comply with section 135(2)-(6); omits the earlier sub rule (2); expands and clarifies permissible implementing entities to include section 8 companies, registered trusts and societies with prescribed tax registrations or exemptions, government established or statutory entities, and organisations with an established three year track record; revises Rule 8 threshold language; substitutes an updated Annexure II annual CSR reporting format; and updates the e form CSR 1 entity classification.

Extension of export period for broken rice permits exports until 30 September 2022 under existing notification conditions.
The notification extends the authorized export period for broken rice (HS code 1006 40 00) permitted under Notification No. 31 dated 08.09.2022 from 15 September 2022 until 30 September 2022, issued under the Foreign Trade (Development & Regulation) Act and relevant provisions of the Foreign Trade Policy, 2015-20, with all other conditions of Notification No. 31 remaining unchanged and the extension coming into immediate effect.

Delegation of Commissioner powers under Odisha GST Act: appointee to assume and exercise statutory functions upon taking charge.
The State Government appoints Shri Sanjay Kumar Singh, IAS as Commissioner of State Tax under the Odisha Goods and Services Tax Act, 2017, effective from the date he assumes charge, and vests him with the powers and functions conferred or imposed by or under that Act.

Modified return for successor entities required electronically, affecting assessment proceedings and officer's duty to modify income.
Rule 12AD requires successor entities to furnish a modified return under section 170A in Form ITR-A, filed electronically with a digital signature. The Assessing Officer must modify or complete assessment/reassessment proceedings to align total income with the business reorganisation order and the filed modified return. The Principal Director-General/Director-General of Income-tax (Systems) shall specify procedures, formats and security, archival and retrieval policies for secure data capture and transmission.

Preservation of records in voluntary liquidation requires secure retention of electronic and physical records and production to authorities.
The liquidator must preserve copies of all records necessary to give a complete account of the voluntary liquidation process, including appointment papers, handover records, initiation and public announcement, claims and verification, stakeholder lists, engagement of professionals and valuers, filings and orders with courts and authorities, statutory filings, correspondence, costs, and statutory reports and registers; maintain electronic and physical copies for prescribed minimum periods from the date of dissolution before the Board, adjudicating or appellate authorities or courts; hand over records on replacement; securely store and produce records on request; and include preservation details in the relevant application, with coverage extending to periods during which the liquidator acted.

Liquidation process rules tightened with revised claims handling, consultation committee powers, auction timelines, and record-preservation duties
The liquidation regulations are amended to tighten timelines, align liquidation claims and procedures with the corporate insolvency resolution process, and expand the consultation committee's role. The liquidator must verify claims collated during resolution but not resubmitted in liquidation, operate the process email account, and follow revised reporting, auction, asset memorandum, and record-preservation requirements. The consultation committee is constituted on defined timelines, receives broader advisory functions, and may propose replacement of the liquidator by a sixty-six per cent vote subject to consent and application requirements.

Process email continuity requirement secures stakeholder communication and transitions between resolution professionals in insolvency proceedings.
The amendments require a dedicated process e-mail to be opened and transferred between interim and successor resolution professionals; mandate sending communications to creditors along with the public announcement where contact information exists; extend and recalibrate various procedural timelines including submission of the information memorandum to the ninety-fifth day and filing of applications on preferential transactions by the one hundred and thirtieth day; expand information memorandum disclosures to include contingent liabilities, geographic coordinates of fixed assets and a company overview; permit asset-sale RFRPs if no resolution plans are received; require a marketing strategy for sizable corporates and mandate committee assessment of compromise or arrangement before liquidation.

Settlement in INR permitted for exports and imports via Special Rupee Vostro Accounts under modified foreign trade policy.
The Foreign Trade Policy now permits invoicing, payment and settlement of exports and imports in INR through Special Rupee Vostro Accounts of correspondent banks, whereby Indian importers credit INR payments to the correspondent's Special Vostro account against invoices and Indian exporters are paid export proceeds in INR from balances in the designated Special Vostro account, aligning the Policy with the RBI A.P.(DIR Series) Circular and taking immediate effect.

Special Additional Excise Duty on diesel reduced by amendment to central excise notification, effective immediately.
Amendment reduces the Special Additional Excise Duty on diesel by substituting the table entry for the relevant serial number in notification No. 04/2022-Central Excise, effected under section 5A of the Central Excise Act read with section 147 of the Finance Act; the change takes effect the day after publication.