Concessional import procedure: automated common portal filings and bonds enable provisional duty exemption with electronic monitoring.
Amendments require electronic one-time prior information on the common portal, generation of an IIN, and submission of a continuity bond to secure potential duty differences with interest. Importers must reference IIN and bond on the Bill of Entry to obtain exemption; the customs automated system debits the bond upon clearance and transmits details to the jurisdictional officer. Monthly IGCR-3 reporting and prescribed forms for non-receipt and prior information are mandated, while job work, unit transfers, re-export, clearance on payment, depreciation-adjusted duty for capital goods, record-keeping and recovery actions by officers are prescribed.

Rescission of anti-dumping duty: coated flat-rolled steel imports from China, Vietnam and Korea withdrawn under Customs Tariff authority.
The central government rescinds Notification No. 16/2020-Customs (ADD) relating to anti-dumping duty on flat-rolled steel plated or coated with aluminum or zinc from China, Vietnam and Korea, invoking the Customs Tariff Act and applicable anti-dumping procedural rules, while preserving actions done or omitted before the rescission.

Anti-dumping duty rescission reverses levy on high speed steel imports from specified countries, subject to prior actions.
Rescinds the anti-dumping duty on imports of High Speed Steel of Non-Cobalt Grade from Brazil, China PR and Germany by withdrawing Notification No. 38/2019-Customs (ADD) under the Customs Tariff Act and relevant anti-dumping rules, subject to a saving clause preserving actions done or omitted before the rescission.

Customs exemption amendment removes specified First Schedule tariff entries, deleting redundant exemptions and narrowing listed relief under notifications.
Further amendments to specified miscellaneous customs exemption notifications remove designated TABLE entries from Notification No. 37/2017 Customs and Notification No. 52/2017 Customs, omitting the listed serial numbers and thereby withdrawing those exemption items from the First Schedule to the Customs Tariff, with the deletions becoming effective on the stipulated dates.

Rescission of Customs Notifications withdraws specified exemption orders, effective on listed dates, subject to a savings provision.
The Central Government, exercising powers under the Customs Act and Customs Tariff Act and acting in the public interest, rescinds a specified list of miscellaneous exemption notifications detailed in a Table with Gazette references, and prescribes the dates on which each rescission takes effect, subject to a savings provision preserving things done or omitted prior to rescission.

Rescission of anti-dumping duty on alloy-steel bars and rods removes the prior notification while preserving prior actions.
Rescission of the anti-dumping duty on Straight Length Bars and Rods of alloy-steel from China PR withdraws Notification No. 54/2018-Customs (ADD) of 18 October 2018 under the Customs Tariff Act and applicable anti-dumping rules, while preserving actions taken or omissions before rescission and noting the notification's subsequent amendment history.

Rescission of customs notifications removes the additional duty linkage on imported transformer oil, subject to prior-act savings.
Rescinds two specific customs notifications that prescribed an additional duty on imports of transformer oil equivalent to the excise duty on transformer oil base stock or feedstock; withdrawal is effected under sub-section (3) of section 3 of the Customs Tariff Act, 1975, subject to a savings clause preserving actions or omissions prior to rescission, and becomes effective on the stated commencement date.

Social Welfare Surcharge exemption revised: specified tariff items added and certain textile items removed from exemption.
The notification amends Notification No. 11/2018-Customs by inserting numerous tariff headings into the exemption table, omitting or substituting specified textile tariff entries, and deleting serial numbers three and four, thereby revising the set of goods exempt from the Social Welfare Surcharge and reconfiguring exemption coverage through tariff classification changes; the amendment carries an express commencement date.

Basic Customs Duty amendments revise tariff entries, conditional exemptions and annexure obligations, with specified effective and expiry dates.
Notification amends No. 50/2017 Customs to revise Basic Customs Duty rates and tariff classifications by omitting, substituting and inserting numerous S. Nos.; introduces time limited conditional exemptions and a Table specifying validity dates under sub section (4A) of section 25; updates the ANNEXURE by omitting and substituting Conditions, adds new Conditions including Kimberley Process certification and rare disease import certification, and restructures obligations for specified persons including transfer and disposal procedures; many changes carry specified future effective or expiry dates.

Central Excise notification sets 55% abatement on retail price for specified tobacco and gutkha products.
Specifies goods under stated Fourth Schedule tariff items, including pan masala/tobacco preparations and gutkha, as subject to an abatement of 55% of the retail sale price, superseding Notification No. 49/2008-Central Excise (N.T.), with the measure framed as necessary in the public interest and coming into force the day after issuance.

Excise duty increase on unblended petrol and diesel to promote fuel blending, imposing higher retail duties from specified date.
The notification amends the central excise schedule to exclude fuels blended to Bureau of Indian Standards specifications from increased duties and inserts separate tariff entries for retail motor spirit (petrol) and high speed diesel (HSD) when supplied not blended with prescribed bio-components, prescribing higher excise rates per litre for unbranded and branded retail supplies and specifying a future effective date for these amendments.

Countervailing duty rescission on stainless steel imports cancels prior CVD notification while preserving actions already completed.
The Central Government, exercising powers under section 9 of the Customs Tariff Act and rules 20 and 22 of the relevant Rules, rescinds the notification imposing countervailing duty on certain hot and cold rolled stainless steel flat products originating in or exported from China PR, subject to a savings provision preserving actions or omissions taken before rescission.

Insurance web aggregator registration in IFSCs requires fit-and-proper governance, secure platforms, transparent comparisons, and controlled insurance solicitation.
Registration requires the applicant's constitutional documents to include insurance web aggregation as a principal object and restrict its business to web aggregation or insurance broking. Applicants, their controllers, management, Principal Officer and Authorized Verifiers must satisfy disqualification, fit-and-proper, training and examination requirements. Applicants must maintain adequate infrastructure, avoid referral arrangements and conflicts of interest, operate a designated website hosted on an India-based server, appoint a responsible Principal Officer, and maintain prescribed capital and net worth from owned, unencumbered funds.

GST compliance and enforcement amendments redefine member supplies, input tax credit, annual returns, detention penalties, and provisional attachment.
Activities or transactions for consideration between a person other than an individual and its members or constituents are retrospectively treated as supplies between separate persons. Input tax credit requires supplier-furnished outward-supply invoice or debit-note details to be communicated to the recipient. Annual returns may include self-certified reconciliation statements, while interest on delayed returns generally applies only to tax paid through the electronic cash ledger. Detention and seizure provisions are recast around penalty payment, notice and order timelines, disposal of goods on non-payment, and a pre-deposit requirement for appeals.

Export policy of syringes revised to free export, removing prior restrictions and effective immediately under FT Act
The notification converts the export classification for syringes from Restricted to Free, specifying common disposable denominations and declaring that the export policy for all syringes under the cited HS classification or any other HS classification is now Free, effective immediately under the Foreign Trade regulatory provisions.

Input tax credit eligibility updated: supplier filing and FORM GSTR 2B communication now required before availing credit.
Input tax credit is restricted to invoices furnished by suppliers in FORM GSTR-1 or via the invoice furnishing facility and communicated to recipients through FORM GSTR-2B. The rules extend filing relief for the financial year 2020-2021 for annual returns and reconciliation statements. Refunds where Unique Identity Numbers are omitted require attested invoice copies. A new auction-based penalty recovery process for detained or seized goods or conveyances is prescribed, with detailed notice, bidding, payment, transfer and re auction procedures and exceptions for perishable or hazardous items. Proceeds allocation prioritises recovery costs, then dues and penalties, with balances credited to the owner or deposited with the Fund.

Commencement of GST Amendment provisions: sections 2, 3 and 7-15 commence on the appointed date.
A state notification, invoking sub section (2) of Section 1 of the Amendment Act, appoints a specific commencement date to bring specified provisions of the Himachal Pradesh Goods and Services Tax (Amendment) Act, 2021 into force, thereby making those amendment provisions effective without changing their substantive terms.

Commencement of state GST amendment provisions notified: specified sub rules commence from the notified effective date.
Notification declares that sub-rule (2), sub-rule (3), clause (i) of sub-rule (6) and sub-rule (7) of rule 2 of the Eighth Amendment Rules shall come into force from the notified effective date, thereby making those specified provisions operational under the state GST regime.

Limitation period extension for GST records; DRC-03 expanded to register DRC-01A intimations and mismatch categories.
Rules extend the period in rule 137 to five years from 30 November 2021 and amend FORM GST DRC-03 to include intimation of tax ascertained through FORM GST DRC-01A, broaden reason codes to add audit/inspection/investigation, scrutiny and specified mismatch categories, insert additional timing/contents entries in item 5, and substitute the serial number 7 table to capture detailed tax components, totals and ledger utilisation with debit entry references.

Tariff value fixation for specified edible oils, brass scrap, gold, silver and areca nut updated effective February first.
Substitutes TABLE-1, TABLE-2 and TABLE-3 of the principal Customs (N.T.) notification to fix tariff values for specified goods: edible oils (various palm and soybean oil grades), brass scrap (all grades), specified forms of gold and silver (with explanatory scope limits), and areca nut. The substituted tables prescribe tariff values in US dollars per metric tonne or per unit for each listed entry and the amendment comes into force on the notification's stated effective date.