Buyer status exclusion: assets-holding company not treated as buyer for section 194Q on approved intra-group transfers.
The Central Government specifies that an assets-holding company shall not be considered a buyer for the purposes of sub-section (1) of section 194Q of the Income-tax Act when goods are transferred to it by the operating airline under a Central Government-approved plan, thereby removing the withholding obligation on such transfers; the notification is retrospective to the first day of July and includes a certification that no person is adversely affected by the retrospective effect.

No tax deduction under section 194-IA on payments to Air India Limited for approved property transfer, applied retrospectively.
The Central Government, under sub-section (1F) of section 197A, specifies that no deduction of tax shall be made under section 194-IA on payments to Air India Limited for transfer of immovable property to Air India Assets Holding Limited under a Central Government-approved plan, with the specification effective from 1 April 2021 and an explanatory memorandum stating no person is adversely affected by the retrospective effect.

Deemed gift exclusion: equity shares received from government under strategic disinvestment not taxable under section 56(2)(x).
The amendment to rule 11UAC excludes movable property, being equity shares, of a public sector company received from the Central Government or any State Government under strategic disinvestment from being treated as income under the deeming provision; it adopts the statutory meaning of strategic disinvestment and takes effect from 1 April 2022 for the assessment year 2022-23 onward.

Transfer under section 47 clause viiaf: Air India to Air India Assets Holding notified, effective from assessment year 2022 23.
Notification invokes clause (viiaf) of section 47 to notify a transfer of capital assets from Air India Limited to Air India Assets Holding Limited under a Central Government-approved plan, identifying the transferor and transferee, and stating the notification takes effect from 1 April 2022 and applies to the assessment year 2022-2023 and subsequent assessment years.

Tax treatment for District Mineral Foundation Trusts: specified DMF receipts recognised as authority income subject to compliance and audit.
Notification under clause (46) of section 10 of the Income-tax Act designates District Mineral Foundation Trusts constituted under section 9B of the Mines and Minerals Amendment Act as a class of Authority for specified income: leaseholder contributions under the DMF Rules, interest and penalties from leaseholders, interest on DMF funds, savings account interest, and interest on excess funds in term deposits. The designation is subject to conditions: no commercial activity, unchanged activities and income across years, filing income-tax returns per clause (g) of sub-section (4C) of section 139, and filing an audited return with a chartered accountant's certificate.

GSTR-3B late fee amnesty extended to broaden eligibility for penalty waiver and compliance relief period.
The Finance Department amended a prior notification under the State GST Act to extend the Form GSTR-3B late fee Amnesty Scheme by substituting a new deadline in the ninth and tenth provisos of the earlier notification, thereby extending the period during which eligible taxpayers may claim waiver of late fees applicable to Form GSTR-3B without changing other substantive conditions of the original scheme.

Extension of revocation application deadline for cancelled GST registrations: deadline postponed to a new specified date.
The state notification, issued under the Tripura State GST Act's enabling provision, extends the time limit for filing applications for revocation of cancellation of registrations cancelled under the specified clauses when the original filing period fell between 1 March 2020 and 31 August 2021, and it sets a consolidated deadline of 30 September 2021 for such revocation applications.

Designation of Adjudicating Authority altered: the Table entry for serial seven, column five, is substituted.
The Principal Director General, Revenue Intelligence amends Notification No.9/2017 by substituting the Table entry against serial number seven, column five, replacing the existing words "Principal Commissioner/ Commissioner of Customs (Nhava Sheva-I), Jawaharlal Nehru Custom House, Raigad"; the amendment is made under the statutory authority of the Customs Act and recorded as Notification No.33/2021.

Annual return filing exemption relieves eligible registered persons from filing the annual return for the relevant financial year.
Annual return filing exemption applies to registered persons whose aggregate turnover for financial year 2020-21 does not exceed Rs. 2 crore. Such persons are exempt from filing the annual return for that financial year under the first proviso to section 44 of the Delhi Goods and Services Tax Act, 2017. The exemption takes effect from 1 August 2021.

Prior Informed Consent procedure now required for mercury imports, making them subject to restricted import conditions.
Import of mercury under ITC HS Code 28054000 is revised from Free to Restricted and made subject to Policy Condition No. 3, requiring a Prior Informed Consent (PIC) procedure pursuant to the Minamata Convention to be obtained from the National Focal Point in the Ministry of Environment, Forest and Climate Change, with procedural details available from the Ministry's Hazardous Substance Management Division.

Transport and Marketing Assistance scheme provides freight and marketing reimbursement for eligible agricultural exports subject to conditions and exclusions.
The Revised TMA scheme reimburses exporters registered with the relevant export promotion council for international freight and marketing of eligible agricultural products in HSN chapters 1-24 subject to Annexure 1 exclusions. Assistance is paid by direct bank transfer on production of Bill of Lading/Airway Bill and an indemnity bond, applies only to exports via EDI ports, uses TEU rules for sea and per kilogram rates for air, and excludes specified categories including trans shipments, imported goods, restricted/prohibited items, MEP/duty subject products and courier/e commerce exports.

Interest cap on advance export payments limited to a small margin above LIBOR or applicable benchmark by regulatory direction.
The amendment substitutes clause (ii) of Regulation 15(1) to cap interest on advance payments for exports at a margin not exceeding one percentage point above LIBOR or another applicable benchmark as may be directed by the Reserve Bank, thereby prescribing a benchmark linked ceiling for permissible interest on such advances.

Amendment to Notification updates the reference in serial 5, column 3 of Notification No.29/2020-Customs, substituting prior citation.
Amendment to Notification No.29/2020-Customs substitutes the wording in the entry against serial number 5, column 3, replacing the existing cited enquiry file number and accompanying supplementary show cause notice references with a substituted citation, under the authority of clause (a) of section 152 of the Customs Act, 1962.

Certification requirement: Portfolio manager principal officers and fund decision-makers must obtain Portfolio Managers certification within specified periods.
Regulatory notification requires principal officers and employees with decision-making authority in fund management at Portfolio Managers to obtain the Portfolio Managers Certification Examination specified in the referenced communique . Portfolio Managers must ensure current associated persons obtain the certification within the transitional period and must ensure new hires obtain certification within the shorter period applicable to post-notification employment. The obligation is issued under the applicable certification and portfolio manager regulations and comes into force upon publication in the Official Gazette.

PMS distributor certification requirement: associated persons must obtain NISM-Series-XXI-A certification within prescribed transitional and employment timelines.
Associated persons acting as distributors of Portfolio Management Services must obtain NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification. Portfolio managers must ensure existing distributors comply within the notified transitional period and newly engaged distributors obtain certification within the employment-linked period. Exemptions apply for holders of a valid AMFI Registration Number (ARN) or NISM Series-V-A certification for the duration of those credentials' validity. The notification is effective upon publication in the Official Gazette.

Corporate governance for high value debt listed entities updated: expanded disclosure, quarterly reporting and trustee obligations.
Amendments align definitions with the Issue and Listing of Non-Convertible Securities Regulations, 2021 and extend listing obligations to non-convertible securities; introduce the category of high value debt listed entity subject to corporate governance provisions on a phased basis; mandate enhanced quarterly financial reporting, expanded disclosure metrics and website hosting of disclosures; require debenture trustee notifications, Directors and Officers insurance for independent directors of high value debt listed entities, and prescribe escrow treatment and eventual remittance for unclaimed interest/dividend/redemption amounts.

Penalty waiver under Kerala SGST Act for registered persons regarding specified notification non-compliance provides temporal relief.
A state notification waives penalties under the Kerala SGST penalty provisions for registered persons who failed to comply with an earlier state notification, announcing that the waiver applies for a specified retrospective period, is issued on the recommendation of the Council, and supersedes the prior notification while deeming a commencement date.

GST rule amendment extends compliance deadlines, mandates cumulative input tax credit adjustment, and permits delayed IFF filing window.
The Fourth Amendment updates Kerala GST Rules effective from June first, 2021: it extends the deadline in rule 26 to August thirty first, 2021; mandates cumulative application of the rule 36(4) condition for April-June, 2021 with FORM GSTR 3B for June/quarter ending June furnished to reflect cumulative input tax credit adjustments; and allows registered persons to submit May, 2021 details via IFF between June first and June twenty eighth, 2021.

Extension of GSTR-4 filing deadline: due date deferred and the amendment deemed effective from the prior statutory due date.
The amendment replaces the prior due date in the second proviso of the third paragraph of the earlier Kerala SGST notification with a later due date for filing specified returns and declares that the amendment shall be deemed to have come into force with effect from the earlier statutory due date; the explanatory note states this implements an extension of the filing date for FORM GSTR-4 for the relevant financial year.

Extension of compliance due dates: certain GST filing and payment deadlines postponed to a later specified date.
The notification amends the earlier GST notification by substituting specified May and June dates with later June and July dates across identified clauses and provisos, declares the amendment effective from the 30th day of May, 2021, and implements an extension of GST compliance due dates falling within the earlier defined period until 30th June, 2021.