Rescission of Notification: prior GST rate notification revoked, effective mid July, with prior actions legally preserved.
Rescinds the earlier GST rate notification SRO GST 26 (Rate) dated 15/11/2017 on the recommendation of the Council, while expressly preserving actions done or omitted before the rescission, and deems the rescission to have come into force with effect from 18th July 2022.

GST classification change: substitution of fly ash product descriptions alters taxable entries and applies retrospectively.
Amendment substitutes the Table entry at serial number 1, column (3) to read "Fly ash bricks; Fly ash aggregates; Fly ash blocks," changing the specified goods description for GST classification. The Government invokes powers under sections 11(1) and 16(1) of the Jammu and Kashmir GST Act, and the notification is deemed to have effect retrospectively from 18th July, 2022.

GST notification amendment adds specified edible oils and solid fuels to the table, effective retrospectively.
Amendment replaces the proviso reference "serial numbers 1" with "serial numbers 1AA", re numbers S. No. 1 as S. No. 1AA and inserts new serial entries 1A-1O identifying specified edible vegetable oils and their fractions (tariff headings 1507-1518) and solid fuels (tariff headings 2701-2703). The notification declares these amendments effective retrospectively and deemed in force from 18th July, 2022.

Pre-packaged and labelled goods exclusion applied across GST exemption entries, adding Legal Metrology definition and omissions.
Amendments replace various exclusionary phrases in multiple GST schedule entries with the uniform qualifier ", other than pre-packaged and labelled", substitute particular item descriptions (e.g., curd, lassi, buttermilk), omit specified schedule entries, remove the word "purified" from an entry, and add an Explanation defining "pre-packaged and labelled" by reference to the Legal Metrology Act, 2009. The notification is deemed to have come into force from 18th July, 2022.

GST rate amendment: new tariff category and expanded coverage for pre-packaged and labelled goods.
The notification amends SRO GST 1 by inserting a new levy category and Schedule VII, by adding ", pre-packaged and labelled" to numerous tariff entries, inserting new tariff lines for specified goods (including dairy, jaggery, puffed rice products, ostomy and orthopaedic appliances, selected leather, maps, solar heaters, pumps, e waste and parts), omitting and re numbering several entries, and defining "pre-packaged and labelled" by reference to the Legal Metrology Act. The amendments are effective from 18 July 2022.

Goods transport agency option to pay GST under forward charge introduced, with declaration form and restrictions on credit recovery.
Amendments revise Table entries to reclassify transport, clinical and related services with specified tax rates and associated denials of input tax credit; introduce an annual, binding option in Annexure V for Goods Transport Agencies to elect forward charge payment subject to a declaration and prohibition on claiming input tax credit; add a taxable entry for high value clinical establishment room charges and for biomedical waste treatment services; expand definitions to clarify terms such as clinical establishment, health care services and goods transport agency; and set the notification to operate from the stated commencement date.

GST notification amendment substitutes the listed goods to include fly ash bricks, aggregates and blocks, effective retrospectively.
The Government amends Notification No. S.O. 183 of 19 April 2022 by substituting, in the TABLE against serial number 4, the entry in column (3) with "Fly ash bricks; Fly ash aggregates; Fly ash blocks", with the substitution deemed to have come into force w.e.f. 18th July, 2022.

Forward charge option on GTA services permits registered suppliers to charge State Tax and include prescribed declaration on invoices.
The amendment removes a prior caveat regarding central tax payment for GTA services and adds a proviso excluding the entry where the supplier is registered under the JKGST Act, 2017, has opted to pay tax on GTA services under forward charge, has issued a tax invoice charging State Tax at applicable rates, and has included the prescribed Annexure III declaration on that invoice; it also inserts entry 5AA making renting of residential dwelling to any registered person taxable and adds Annexure III prescribing the required declaration.

GST exemption scope revised: specific services added, certain entries omitted, and tour-operator export portion clarified.
Amendments to SRO-11-GST revise the Jammu and Kashmir GST exemption table by omitting specified phrases, deleting and substituting entries, and inserting new entries including Department of Posts ordinary post services and storage/warehousing of cereals, pulses, fruits and vegetables. A new entry 52A prescribes the exempt portion of tour operator services to a foreign tourist performed partly outside India-calculated as the proportion of days outside India or fifty percent of total consideration, whichever is less-and provides counting rules for fractional days and an explanatory definition of "foreign tourist." The amendments are effective from 18th July, 2022.

GST rate amendment: revised tax entry substituted in prior notification, altering applicable rate and effective from mid July.
Amendment replaces the entry in column (4) of the TABLE against serial number 1 in Notification No. SRO GST 3 dated 08.07.2017 with a revised percentage, issued under the statutory authority of sub section (1) of section 11 of the Jammu and Kashmir Goods and Services Tax Act, 2017, and deemed effective from 18th July, 2022.

Overseas Investment rules require RBI oversight, eligibility controls, pricing discipline and sectoral prohibitions on cross border investments.
The rules govern Overseas Investment by residents, defining ODI and OPI, classifying instruments, and requiring investments to be in bona fide business activity with Reserve Bank and AD bank oversight. Schedules set modalities and limits for Indian entities, individuals, trusts, funds and IFSC investments. Operational safeguards include arm's length pricing, No Objection Certificates for certain investors, holding period and documentation requirements for transfers and restructurings, and valuation certification where diminution thresholds are crossed. Prohibitions restrict investment into real estate trading, gambling and specified rupee linked products without approval.

Overseas investment controls: new conditions for Indian entities' financial commitments and reporting obligations under FEMA.
Indian entities may undertake financial commitments in foreign entities-by lending, investing in debt instruments, issuing guarantees, creating pledges or charges, or deferring payment-only if eligible for Overseas Direct Investment, having made such ODI and acquired control, and subject to the prescribed financial commitment limit; arm's-length interest, restrictions on open-ended guarantees, reckoning of guarantees and charges towards limits, permitted modes of payment, prior UIN and AD bank routing, reporting of commitments, APR and annual returns, late submission fee regularisation, and suspension of further commitments for unregularised reporting delays are mandated.

Compounding of customs offences now covers Section 135AA, with a specific fee structure and mandatory prosecution immunity in limited cases.
The 2022 amendment to the Customs (Compounding of Offences) Rules, 2005 brings offences under Section 135AA within the compounding framework by inserting a specific fee entry in the table. It prescribes one lakh rupees for the first offence, with a hundred per cent increase for each subsequent offence. The amendment also removes the requirement of co-operation in proceedings from rule 6, grants immunity from prosecution where the offence is punishable only under Section 135AA, and corrects the internal reference in rule 7(2) to rule 6.

GST threshold reduction: state notification lowers the monetary limit for registration and related obligations, effective October.
Under the authority of sub-rule (4) of rule 48 of the Chhattisgarh GST Rules, 2017, Notification No. 13/2020-State Tax is amended to substitute the words "twenty crore rupees" with "ten crore rupees", effective 1 October 2022, on the recommendations of the Council, as formalised by the State Government's notification dated 22 August 2022.

Special Courts designated for income-tax and black-money prosecutions in Chhattisgarh covering Chief Judicial Magistrate jurisdictions.
The Central Government, in consultation with the Chief Justice of the High Court of Chhattisgarh, designates all Chief Judicial Magistrate Courts in Chhattisgarh as Special Courts to hear matters under the Income-tax Act and the Black Money Act for offences and proceedings arising within the respective territorial jurisdictions of those magistrate courts.

Specified person replaces trust or institution in income-tax rule, aligning definition with section 115TD notification.
Substitutes the phrase "trust or institution" with specified person in rule 17CB of the Income-tax Rules, 1962, and inserts clause (ha) in the Explanation to rule 17CB providing that specified person has the same meaning as assigned in the Explanation to section 115TD, effective from publication in the Official Gazette.

Late fee waiver for composition return filings: waiver granted for the specified May to June filing period with retroactive effect.
The notification inserts a proviso waiving the late fee for delay in furnishing FORM GSTR-4 for Financial Year 2021-22 for the period from 1 May 2022 to 30 June 2022, and declares the amendment to be effective retrospectively from 26 May 2022, following a GST Council recommendation.

Physical verification of registered office permits Registrar to inspect, record evidence and initiate removal proceedings if communications fail.
Rule 25B authorises the Registrar to perform physical verification of a company's registered office based on MCA21 records, including visiting the premises with two independent witnesses, carrying filed documents, authenticating address evidence with the occupant, photographing the premises, and preparing a prescribed report listing company details, visit particulars and attached documents. If the office cannot receive communications, the Registrar shall notify the company and its directors of intent to remove the company from the register and invite representations within thirty days before further action under the Act.

Exchange rate determination for customs establishes new conversion rates for specified foreign currencies affecting import and export valuation.
The Central Board of Indirect Taxes and Customs prescribes conversion rates for listed foreign currencies into Indian rupees for application to imported and exported goods, with separate rates for imports and exports set out in two annexed schedules and an express supersession of the prior notification; the rates are declared effective from the stated date and issued under the Customs Act authority.

GST threshold reduction under rule 48 increases applicability by replacing the higher turnover benchmark with a lower one effective October.
Under the authority of subrule (4) of rule 48 of the Goa Goods and Services Tax Rules, 2017, the Government of Goa substitutes, effective 1 October 2022, the words "twenty crore rupees" with the words "ten crore rupees" in the first paragraph of the notification dated 30 March 2020, thereby changing the specified turnover threshold in that notification.