Commencement of Delhi VAT Amendment: Government appoints effective date and directs publication and circulation of notification.
The Lieutenant Governor, exercising the power conferred by section 1(3) of the Delhi Value Added Tax (First Amendment) Act, 2015, appoints 31st March 2015 as the date the Amendment Act shall come into force and directs publication in the Delhi Gazette and circulation of the notification to specified secretariat and departmental officers and the departmental website for implementation and recordation.

Deposit acceptance amendments require annual credit rating and specific treatment of earlier subscription receipts by companies.
Companies receiving subscription monies before 1 April 2014 and disclosed in the balance sheet up to 31 March 2014, where allotment remained pending on 31 March 2015, must by 1 June 2015 either return such amounts, allot the securities, or comply with the Companies (Acceptance of Deposits) Rules, 2014.

Delegation of powers to Regional Directors under the Companies Act, subject to Central Government revocation and Gazette commencement.
The Central Government delegates to specified Regional Directors the powers and functions under sub section (5) of section 94 of the Companies Act, 2013, pursuant to section 458, subject to the reservation that the Central Government may revoke the delegation or itself exercise the powers when it deems it necessary in the public interest; the delegation takes effect on publication in the Official Gazette and the notification records a subsequent substitution of the list of Regional Directors.

Fixation of tariff values: substitution of tariff-value tables for specified goods to update customs valuation framework.
Amendment under section 14(2) of the Customs Act, 1962 substitutes TABLE-1, TABLE-2 and TABLE-3 of Notification No. 36/2001 Customs (N.T.) with schedules fixing tariff values in US dollars for specified commodities, including edible oils, Brass Scrap, Poppy seeds, Areca nuts, and unit values for gold and silver where specified notification benefits apply, to serve as operative benchmarks for customs valuation.

Income Computation and Disclosure Standards: mandatory standards for mercantile-accounting assessees computing business and other income.
Notification under section 145(2) prescribes Income Computation and Disclosure Standards (ICDS) for assessees following the mercantile system of accounting to compute income under "Profit and gains of business or profession" and "Income from other sources," superseding the prior 1996 notification and prescribing specific standards on accounting policies, inventory valuation, construction contracts, revenue recognition, tangible fixed assets, foreign exchange effects, government grants, securities, borrowing costs, and provisions and contingent items.

Customs notification amendment postpones implementation dates for specified provisos under customs law, extending exemption timelines.
The Central Government, under section 25(1) of the Customs Act, 1962, amends Notification No.12/2012 Customs by substituting "1st day of April, 2015" with "1st day of October, 2015" in the proviso's clauses (a) and (ab), thereby deferring the commencement date of the specified customs exemptions.

Customs exemption for antiquities amended to cover only items intended for public exhibition in museums or art galleries.
The Central Government amends Notification No. 26/2011-Customs by substituting, against S. No. 4 in the Table, the entry in column (2) with the phrase Antiquities intended for public exhibition in a museum or art gallery, exercising powers under the Customs Act in the public interest; issued as Notification No. 14/2015-Customs.

Carry forward or refund of VAT credit permitted; refund claims processed as per statutory refund procedure.
Where input credit remains after application under the utilisation rule, the dealer may carry forward the remaining credit to the next calendar month or claim a refund at the end of a tax period; the Commissioner shall process refund claims under the Act's refund provisions, refunds are claimable only at the end of a tax period, and inadvertent excess payments shall be treated as credit in the relevant month or tax period.

Tariff concessions under India-Japan CEPA update customs tariff schedule, substituting rates for specified tariff headings.
Notification substitutes the Table in Notification No.69/2011 Customs to notify the next tranche of tariff concessions under the India Japan CEPA by listing specific chapters, headings and tariff items with their applicable percentage rates; the amendment is made under section 25(1) of the Customs Act and comes into force on 1st April, 2015.

Recruitment and service conditions set for Commission appointments establish selection, pay, pension treatment and tenure limits.
These rules govern recruitment and conditions for the Chairman, Vice Chairmen and Members of the Customs and Central Excise Settlement Commission: appointments are made by the Central Government on the recommendation of a Selection Committee from specified serving officers; serving appointees must retire from parent service and retain pension and retirement benefits subject to leave encashment limits; pay scales and Group 'A' equivalent allowances are prescribed, with pension adjustments; GPF contributions are permitted; tenure and age limits apply with no reappointment and a two year restriction before new assignments; Central Government interpretation and relaxation powers are provided.

Insurance regulation in Special Economic Zones allows insurers to operate with Authority approval and specified underwriting limits.
Rules permit regulated insurers to operate in a Special Economic Zone with prior Authority approval, restricting underwriting to classes specified by the Authority and requiring acceptance of business to follow the Authority's SEZ guidelines; SEZ insurers may accept cross-border insurance and re-insurance and Domestic Tariff Area entities may procure services from SEZ insurers on parity with international procurement subject to SEZ Act provisions.

Recruitment and conditions of service for Settlement Commission members set selection, retirement, remuneration, and tenure rules.
Appointment to Chairman, Vice Chairmen and Member posts is confined to specified serving officers and made by the Central Government on recommendation of a Selection Committee. Serving officers must retire from parent Central Government service before joining and, on such retirement, are entitled to pension, gratuity and commutation under prior rules and cash equivalent for earned leave subject to an overall encashment cap. Remuneration and allowances align with Group A equivalents, reduced by any pension receipts, and contributory provident fund contributions are permitted under non pensionable conditions. Tenure is fixed with limits and no reappointment; other service conditions mirror equivalent Group A officers.

Exemption of specified insurance Act provisions: certain sections do not apply to Indian insurers operating in special economic zones.
Government notification exempts certain listed provisions of the Insurance Act from applying to insurers defined as Indian Insurance Companies, insurance co operative societies, or specified bodies corporate, while confirming that all other provisions of the Act continue to apply to such insurers when carrying on insurance business in a Special Economic Zone.

Appointment under Delhi VAT Act: Shri Kishan designated Value Added Tax Inspector to assist Commissioner effective upon assumption of charge.
Pursuant to statutory authority under the Delhi Value Added Tax Act and applicable rules, the Lt. Governor appoints an officer to assist the Commissioner of Value Added Tax; Shri Kishan is appointed as Value Added Tax Inspector effective from the date of assumption of charge, with physical joining recorded on 14/01/2015, notified by the Finance (Revenue-I) Department.

Import and export controls: certificate and authorization requirements govern cross-border movement of narcotic drugs and psychotropic substances.
Amendments require import certificates and export authorizations for narcotic drugs and psychotropic substances, restrict Schedule I substances to Chapter VIIA purposes, mandate forms and fees specified by the Narcotics Commissioner, impose issuance timelines with reasons for delay or denial, substitute Commissioner of Customs for Collector of Customs, and require licensed manufacture under Drugs and Cosmetics Rules with consultation on annual production limits and registration with quarterly returns subject to revocation and appeal.

Exchange rate revision for Norwegian Kroner updates rupee equivalents for import and export under Customs Act.
The Central Board of Excise & Customs, under Section 14 of the Customs Act, 1962, substitutes the Schedule I entry for Norwegian Kroner in Notification No. 32/2015 CUSTOMS (N.T.), setting distinct official rupee equivalents for imported goods and for exported goods. The revised exchange rates for Norwegian Kroner are declared effective from 26th March, 2015 and are to be used for customs valuation and related import/export procedures.

Facilitation of tendering of shares required, with settlement through the stock exchange mechanism specified by the Board.
The SEBI amendment inserts Regulation 9(3A) into the Buy Back Regulations, obliging the acquirer or promoter to facilitate tendering of shares by shareholders and settlement of those tenders through the stock exchange mechanism as specified by the Board, thereby requiring buy back tendering and settlement to occur via the exchange based mechanism designated by SEBI.

Delisting offer: acquirer may delist when making an open offer, with specified failure announcements and tender rights.
An acquirer making an open offer may seek delisting if disclosed upfront; failure of the delisting requires prompt public announcement, filing of a draft letter of offer through the manager within a short period, payment of interest enhancing the offer price for delay, and compliance with takeover provisions. Competing offers bar delisting and remove interest liability for delays due to competition. Tendered shares may be withdrawn within a set window after failure announcement; non-tendering shareholders may still tender. The acquirer must facilitate tendering and settlement via stock-exchange mechanisms and may complete the acquisition only after a public announcement of delisting success.

Delisting procedure tightened with mandatory board disclosures, merchant banker due diligence and sale restrictions on promoters.
Amendments expand definitions and impose sale prohibitions on promoters, promoter groups and acquirers for six months prior to board approval and until completion of delisting. Boards must disclose delisting proposals, appoint a merchant banker, and provide two years of trading and off-market details for the top twenty-five shareholders for merchant banker due diligence. The merchant banker must certify compliance with securities laws and whether transactions were undertaken to facilitate the delisting. The board must certify compliance, adherence to conduct conditions, and that delisting serves shareholders' interest. Timelines and book-building settlement rules are shortened and revised; a power to relax enforcement and a fast-track delisting route for small inactive companies are introduced.

Research Analyst Certification required for practice; recognised alternative certifications accepted to meet regulatory compliance.
Any person acting or intending to act as a research analyst under the Research Analysts Regulations must obtain the Research Analyst Certification by passing the designated certification examination administered by a recognised certifying body; alternatively, the person may hold any other certification that the Board recognises from time to time for the purposes of the relevant provision in the Regulations.