Tariff value fixation for specified imported edible oils, metals, areca nut, gold and silver updated for customs valuation.
Amendment under section 14 of the Customs Act substitutes TABLE 1, TABLE 2 and TABLE 3 in the principal notification to fix US dollar tariff values for specified imports, listing commodity-specific benchmark values for edible oils, brass scrap, areca nut, and specified forms of gold and silver to govern customs assessment; the notification takes effect the day after publication.

Customs exemption on raw cotton: duty and agriculture cess waived during specified period under statutory powers.
Exempts imports of raw cotton under Chapter 5201 from customs duty and Agriculture Infrastructure and Development Cess to the extent those levies exceed amounts calculated at the specified standard rates, both of which are set at nil, under powers of section 25 of the Customs Act and section 124 of the Finance Act, 2021, for the period specified in the notification, with the expiry date later substituted by a subsequent notification.

SEZ de-notification reduces zone area following statutory procedure and developer undertaking for DTA conversion with required approvals.
Central Government, under the Special Economic Zones Act and Rules, de-notifies 2.89 hectares of the sector-specific SEZ at Chokkanahalli Taluka, reducing the notified area to 4.30 hectares. The de-notification follows the developer's proposal, State approval, and the Development Commissioner's recommendation, with a developer undertaking to convert the de-notified land into Domestic Tariff Area for industrial allotment; specific survey numbers and hectare amounts are specified.

Special Economic Zone de-notification reduces SEZ area, enabling land transfer for fisheries research and women's hostel.
Central Government de-notifies 4.4654 hectares from the sector-specific IT SEZ at Village Mulavana, Kollam, making the SEZ area 13.5346 hectares. The State entity proposed the de-notification, the State Government approved it, and the Development Commissioner recommended deletion. Out of the de-notified land, a major portion will be transferred to the State revenue department for allotment to the Fisheries Department for a research centre and the remainder will be used for a working women's hostel. The de-notification is issued under the Central Government's statutory powers and applicable SEZ Rules after satisfaction of legal prerequisites.

Foreign investment terms expanded for employee share schemes; new definitions and approval and sectoral compliance required.
Amendments permit issuance of employees' stock options, sweat equity and Share Based Employee Benefits to non-resident employees or directors subject to scheme compliance with SEBI/Companies Act or other law, adherence to sectoral caps, prior government approval where company is under approval route or recipients are citizens of specified countries, and mandatory non-repatriation holding for shares acquired by former residents.

Engagement of Experts and Young Professionals: amended qualification, categorisation, remuneration and confidentiality rules apply for contractual engagements.
Amendments substitute the term Experts and Young Professionals, revise Schedule I to set detailed essential and desirable qualifications and sectoral or academic experience for Economist and Law and add Financial Analysis and Forensic Audit classes; Schedule II establishes graded experience bands for Young Professionals and Experts; Schedule III prescribes lump sum monthly remuneration bands with annual increases and age limits; engagements are contractual for one to three years with possible two year extension; confidentiality, integrity certificates and criminal record undertakings are required.

Composition levy exclusion: specified brick products removed from composition eligibility under section 10, effective from notified commencement date.
Amendment inserts specific tariff entries into notification No. 380-F.T. to exclude certain brick and tile products-fly ash bricks or fly ash aggregate and fly ash blocks; bricks of fossil meals or similar siliceous earths; building bricks; and earthen or roofing tiles-from eligibility for the composition scheme under the proviso to sub section (1) of section 10, with the amendment effective from the notified commencement date.

GST registration threshold amended: fly ash and building bricks added to taxable goods list, effective from April first.
The West Bengal GST notification amends earlier Notification No. 378-F.T. by inserting specified commodity entries for brick and masonry goods-fly ash bricks or fly ash aggregate with ninety per cent or more fly ash content and fly ash blocks; bricks of fossil meals or similar siliceous earths; building bricks; and earthen or roofing tiles-thus bringing these items within the notification's registration-threshold framework; the amendment is made under section 23(2) and effective from 1st April, 2022.

Composition scheme for brick kilns limits state GST liability, conditional on strict input tax credit non-availability or reversal.
Exempts part of State GST on specified brick and tile tariff items by applying a special composition scheme with a reduced rate for intra-state supplies, subject to conditions. The main condition requires that input tax credit not be taken for inputs used exclusively in these supplies, and where credit was partly taken it must be reversed as if the supply were exempt, in accordance with the West Bengal GST Act and interpretive rules of the First Schedule to the Customs Tariff Act.

GST rate reclassification for brick products shifts specified brick and tile items from lower to higher taxable rate effective April
The notification amends the prior state GST schedule by removing certain entries from the lower-rate schedule and inserting specified HSN-coded brick and tile items into the higher-rate schedule, listing fly ash bricks or fly ash aggregate with 90% or more fly ash content; fly ash blocks; bricks of fossil meals or similar siliceous earths; building bricks; and earthen or roofing tiles as newly scheduled items, and declares the amendment effective from the stated commencement date.

Amendment to GST notification adds specific building material classifications, altering tax treatment from the stated effective date.
The State GST notification amends the Table in Notification No. 14/2019-State Tax by inserting four tariff entries for building materials: fly ash bricks or fly ash aggregate with 90% or more fly ash content and fly ash blocks; bricks of fossil meals or similar siliceous earths; building bricks; and earthen or roofing tiles. The amendment adjusts tax classification for these goods and is deemed to have come into force from the stated effective date under the empowering provision of the Chhattisgarh Goods and Services Tax Act.

GST tariff update: adds brick and tile classifications including fly ash bricks and building tiles, altering state tax coverage.
Amendment to the state GST notification inserts new tariff entries classifying fly ash bricks and blocks, bricks of fossil meals or similar siliceous earths, building bricks, and earthen or roofing tiles into the notification's table. The change takes effect retrospectively from the first day of April, 2022 and is made under the State Goods and Services Tax Act authority to amend the original notification.

Concessional GST rate for brick supplies conditioned on non availment and reversal of input tax credit.
A concessional State tax rate of 3% applies to specified intra state supplies of bricks, blocks and tiles only where input tax credit on inputs and input services used exclusively for such supplies has not been taken, and any credit partly attributable to those supplies is reversed as if the supply were exempt under the Act and rules.

State GST rate amendment reclassifies specified building materials, moving certain brick and tile items into a higher tax schedule.
Amendment revises the State GST rate schedule by omitting specified lower-rated serial entries and inserting specific brick, block and roofing-tile goods into the 6% schedule, reclassifying those products for taxation; the State Government issues the change on Council recommendation and makes it effective from the start of the fiscal quarter.

Security cover requirement updated: replaces asset cover, mandates secured non convertible debt and includes interest in coverage.
Substitutes security cover for "asset cover" and inserts the requirement that listed non convertible debt securities be secured, while clarifying that coverage applies to the principal amount and the interest thereon; corresponding textual changes are made in the related disclosure provision. The amendments take effect on publication in the Official Gazette.

Debenture trustee monitoring obligations strengthened and "security cover" replaces "asset cover" clarifying security reporting duties.
Amendment requires debenture trustees to monitor compliance with the trust deed as specified by the Board and revises regulation 15 terminology: replacing "asset cover" with "security cover", altering receivables/book debts references, and substituting valuation language with a requirement for information regarding security cover, thereby focusing trustee obligations on assessing and reporting the adequacy of security cover.

Security cover requirement: secured debt must maintain full cover and trustees must deliver prescribed due diligence certificates.
Secured debt securities must be secured by full security cover or higher as per the offer document and/or Debenture Trust Deed, sufficient at all times to discharge principal and interest. Charges and securities must be disclosed in the offer document and Debenture Trust Deed with an undertaking regarding encumbrances or prior consent of existing chargeholders. Debenture trustees must provide due diligence certificates in prescribed formats for secured and unsecured issues, confirming adequacy of offer-document disclosures, disclosure of covenants, and execution of the Debenture Trust Deed before filing the listing application. Credit rating press releases must be current within one year.

Tax exemption for regulatory commission: specified fees and investment interest exempt subject to non commerciality and filing conditions.
Notification under section 10(46) notifies the Rajasthan Electricity Regulatory Commission for exemption in respect of petition filing fees, licence fees and interest on investment, subject to conditions: no commercial activity, unchanged activities and income nature across the financial years, and filing returns under clause (g) of sub-section (4C) of section 139. The notification is deemed operative for financial years 2020-2021 to 2024-2025 and an explanatory memorandum states retrospective application does not adversely affect any person.

Designation as place of public worship enables tax-deduction eligibility for donations to the Somnath Temple.
Central Government notifies "The Somnath Temple managed by Shree Somnath Trust (PAN: AAATS9555Q)" to be a place of historic importance and a place of public worship of renown for the purposes of section 80G of the Income-tax Act, 1961, by Notification No. 29/2022 dated 11th April, 2022.

De notification of SEZ land reduces the notified area and permits conversion to Domestic Tariff Area use after statutory approvals.
Central Government, invoking the second proviso to sub section (1) of section 4 of the Special Economic Zones Act, 2005 and rule 8 of the SEZ Rules, 2006, de notifies specified survey folio parcels at SIPCOT Industrial Area, Sriperumbudur following a proposal by the Developer, State Government approval and the Development Commissioner's recommendation; the Developer had leased the land to a Co Developer which will use the de notified area for a DTA unit, and the notification records the SF numbers and resultant SEZ area after deletion.