Exchange Rate Determination - customs prescribe new conversion rates for specified foreign currencies affecting import and export valuation.
The Central Board fixes conversion rates between specified foreign currencies and the Indian rupee for customs valuation, effective 20th August, 2021, superseding the earlier notification except for prior actions. Rates are published in two annexed schedules: Schedule I sets per unit rupee equivalents for multiple currencies with separate columns for imported and exported goods; Schedule II sets rupee equivalents per 100 units for currencies quoted per 100 units.

Customs tariff amendment adds HS code entries imposing specified duty rates and expands exemption notification scope.
The notification amends Notification No. 34/2021-Customs by inserting four new Table entries specifying HS codes 1507 10 00, 1507 90 10, 1512 11 10 and 1512 19 10, each applying the stated duty percentages to "All goods" under those headings; the amendment is made under section 25(1) of the Customs Act, 1962 and takes effect from 20th August, 2021.

Extension of export deadline extends last date of export by six months for exports with deadlines in early 2021.
The notification inserts a proviso into Notification No. 57/2000-Customs providing a six month extension of the last date for export where the original last date of export falls between 1 February 2021 and 30 June 2021, effected by amendment published under the powers of the Customs Act.

Penalty waiver under Section 125 grants relief to registered persons for non compliance of the specified notification during the designated period.
The government waives the amount of penalty payable by registered persons for non-compliance of the notification issued in G.O.Ms.No.142 dated 15-5-2020 for the period 1 December 2020 to 30 September 2021, under powers granted by the Andhra Pradesh Goods and Services Tax Act, 2017, on the recommendation of the GST Council, and superseding G.O.Ms.No.32 except as to prior acts or omissions.

Lowered interest rates for delayed GST payments apply to specified tax periods with phased concessionary windows.
Temporary restructuring of interest for specified March-May 2021 return periods replaces default language to "liable to pay tax but fail to do so," changes the table heading to "Month /Quarter," and substitutes serial entries setting phased interest slabs: an initial concessionary nil or lower rate for a defined early window followed by intermediate and final rates. The schedule differentiates taxpayers by aggregate turnover in the preceding financial year and by return-filing class under section 39 (monthly and quarterly filers). The amendment is effective from a stated date in May 2021 under the Andhra Pradesh GST Act.

Prescribed person under Insolvency and Bankruptcy Code authorised for ITR verification and authorised representation for companies and LLPs.
Rule 12AA designates as the prescribed person for verification of returns any person appointed by the Adjudicating Authority to discharge duties of an interim resolution professional, resolution professional, or liquidator under the Insolvency and Bankruptcy Code, 2016, with "Adjudicating Authority" defined as in clause (1) of section 5 of that Code. Rule 51B similarly provides that any person so appointed shall be the authorised representative for appearance in respect of a company or limited liability partnership.

Corrigendum to customs notification clarifies tariff table entry by removing a parenthetical explanatory phrase and standardising the rate description.
Corrigendum to Notification No. 67/2021-Customs (N.T.) amends Table 2, S. No. 2 and 3 in Column 4 by removing the parenthetical explanatory phrase and substituting the plain unit rate description; the corrigendum is recorded as a formal correction to the Gazette publication with departmental file reference and signatory.

Penalty waiver under section 125 grants relief for non-compliance with notification S.O.111 through September 2021.
The notification supersedes an earlier departmental notice and grants a targeted penalty waiver for registered persons under the Bihar GST framework for penalties arising from non compliance with a specified departmental notification, limited to the defined waiver period and without affecting actions taken before the supersession; it is issued by the Governor on Council recommendation and promulgated by the Commercial Tax Department.

Dynamic QR Code penalty waiver covers registered persons' specified GST non-compliance period, superseding the earlier waiver arrangement.
Penalty waiver for Dynamic QR Code non-compliance applies to registered persons liable to penalty under the Telangana GST framework for failing to comply with prescribed Dynamic QR Code requirements. The waiver covers non-compliance occurring from 1 December 2020 through 30 September 2021. The measure supersedes the earlier waiver arrangement while preserving actions already taken or omitted before supersession, and is deemed effective from 30 June 2021.

Remission of Duties and Taxes on Exported Products (RoDTEP) issues FOB based transferable e scrip rebates for eligible exports.
RoDTEP refunds currently un refunded indirect duties, taxes and levies borne on exported products and on their distribution, subject to ceilings and rates set by a Department of Revenue committee and an annual budget fixed by the Ministry of Finance. Rebates are generally a notified percentage of FOB (with per unit caps or fixed quantum where specified) and are issued as transferable electronic duty credit scrips maintained in a CBIC ledger. Eligibility, a list of exclusions, foreign exchange realisation rules, IT enabled application procedures, RMS based audit sampling, recovery, suspension and penalty mechanisms, and an inter ministerial policy committee are prescribed; detailed itemwise rates and caps are in Appendix 4R.

Export restriction on coronavirus rapid antigen testing kits imposed; exports moved to restricted category requiring authorization.
The export of coronavirus rapid antigen testing kits under specified ITC (HS) codes has been reclassified from Free to Restricted under Schedule-2 of the ITC (HS) Export Policy. The Central Government, invoking Section 3 of the Foreign Trade (Development & Regulation) Act and provisions of the Foreign Trade Policy 2015-20, issued a DGFT notification effecting this change, which applies immediately to the listed HS codes and to any other HS code covering such kits.

Aggregate shareholding disclosure: acquirers and persons acting in concert must report at the prescribed threshold; depository encumbrance exempt.
Regulation 29 is amended to require acquirers, together with persons acting in concert, to disclose their aggregate shareholding and voting rights in a target company upon reaching the prescribed threshold; regulation 30 is omitted; and regulation 31 is amended to exempt encumbrance disclosure where the encumbrance is undertaken in a depository. The amendments take effect from April 1, 2022.

Lock-in period changes reduce mandated holding durations and add capital expenditure exceptions altering IPO and follow-on timelines.
Amendments shorten default post offer retention periods by substituting shorter allotment based lock in timeframes while inserting provisos that reimpose extended lock ins when the majority of issue proceeds (excluding offer for sale) are proposed for capital expenditure; explanatory text defines "capital expenditure" to include civil works, fixed assets, land, building and plant and machinery. Parallel substitutions reduce other holding periods and adjust provisos; Schedule VI is amended to refine group company disclosure, require names and addresses in the offer document, and mandate hosting of audited financial metrics of top group companies on their websites.

Regulation 19 amendment removes specified sub regulations and wording, effective upon publication in the Official Gazette.
Amendment to Regulation 19 of the Stock Exchanges and Clearing Corporations Regulations, 2018: omission of the word "listed" from the second proviso to sub regulation (1); deletion of sub regulation (2); removal of the words "sub regulation (2) or" from sub regulation (4); and omission of sub regulation (6). The amendments take effect on publication in the Official Gazette.

Amendment to Regulation 22 removes specified sub regulations and wording, changing the text of the Depositories and Participants rules.
The Amendment Regulations effect targeted deletions in Regulation 22 of the 2018 Regulations: omission of the word "listed" from the proviso to sub regulation (1); complete omission of sub regulation (2); deletion of the phrase "sub regulation (2) or" from sub regulation (4); and omission of sub regulation (6). The instrument comes into force on publication in the Official Gazette.

Listing disclosure obligations updated: mandatory soft copies of full annual reports to registered holders of non convertible securities.
The amendment revises listing disclosure requirements by omitting certain clauses in regulation 52, inserting "Intimations/" into regulation 57's heading while removing its sub regulation (2), and substantially rewriting regulation 58 to remove references to debt and non convertible preference shares, require soft copies of full annual reports to registered holders of non convertible securities, substitute "securities" for "preference share", and omit specific clauses; regulation 61 is amended to include "non convertible debt securities and/or" after "dividend of" and to omit the second proviso.

AIF regulatory amendments require merchant banker review and grant SME investment exemptions with disclosure and one year lock in.
Amendments redefine key terms (debt fund, investable funds, unit), require Board comments to be routed through and incorporated by a merchant banker into the placement memorandum prior to scheme launch, mandate that at least seventy five percent of investable funds be placed in specified venture capital undertakings or SME-listed/proposed companies by fund end of life, allow investments in Category II AIF units and specified vehicles, update issuance/disclosure references, waive minimum grant for accredited investors, and provide insider trading exemptions for SME exchange investments subject to two day disclosure and one year lock in.

Employee share based benefits regulated to require shareholder approval, trust governance, disclosures and enforceable acquisition limits.
The regulations create a uniform regime for employee share based benefit schemes and sweat equity for listed companies, permitting implementation directly or through an irrevocable trust subject to detailed trust deed, trustee, accounting and disclosure requirements. They mandate compensation committee governance, shareholder approval for schemes and certain material changes, limits on secondary acquisitions and trust holdings, minimum vesting and lock in periods, non transferability of options and SARs, prescribed valuation and accounting treatment for sweat equity, and extensive disclosure, audit and stock exchange filing obligations.

Tariff value fixation updates customs values for edible oils, brass scrap, areca nut, gold and silver.
Amendment substitutes TABLE 1, TABLE 2 and TABLE 3 of the principal customs valuation notification to fix US dollar tariff values for listed imports, including specified edible oils, brass scrap, areca nuts and defined forms of gold and silver; it distinguishes eligible forms of precious metals for valuation purposes, corrects a textual matter by corrigendum, and declares the substituted tables to come into force on the stated effective date in August 2021.

FORM GSTR-4 filing deadline for the relevant financial year is extended for covered taxpayers under the Telangana GST framework.
FORM GSTR-4 filing for the financial year ending 31 March 2021 is extended until 31 July 2021 for persons covered by the specified return-furnishing requirement under the Telangana Goods and Services Tax framework. The amendment, made under section 148 on the Council's recommendations, is deemed effective from 30 April 2021.