Exemption of customs deposits under section 51A(4) deferred, implementation date moved to 1 October 2023 by notification.
The Central Board of Indirect Taxes and Customs amends Notification No. 19/2022 Customs (N.T.) by substituting "1st July, 2023" with "1st October, 2023" in paragraph 2, thereby deferring the commencement of the exemption from deposit requirements under section 51A(4) of the Customs Act.

Tariff value fixation updated for specified edible oils, brass scrap, gold, silver and areca nut, altering import valuation consequences.
The Central Board of Indirect Taxes & Customs amends the non-tariff notification under section 14(2) of the Customs Act by substituting revised Tables that fix US-dollar tariff values for specified imports: edible oils (various palm and soybean oils), brass scrap (all grades), and areca nut by weight, and by specifying unit tariff values for gold and silver in defined forms; the amendment takes effect from the first day of July.

AIDC rate for LPG: specified tariff lines now subject to an additional integrated duty under amended customs notification.
Inserts new entries for tariff headings 27111910, 27111920 and 27111990 into the TABLE of Notification No. 11/2021-Customs and subjects all goods under those entries to an additional integrated duty of 15%, the amendment coming into effect on the 1st day of July, 2023.

Basic Customs Duty on Liquified Petroleum Gas amended, new tariff entry for specified HS codes inserted and effective July.
A new tariff entry S. No. 155A is inserted in Notification No. 50/2017 Customs to cover tariff items 27111910, 27111920 and 27111990 described as Liquified Petroleum Gas (LPG) with a Basic Customs Duty of 5%, the amendment taking effect from 1 July 2023.

Increase in LPG import duty: standard tariff for specified LPG tariff items substituted under section 8A(1) of Customs Tariff.
The Government, exercising the power under section 8A(1) of the Customs Tariff Act, 1975, directed amendment of the First Schedule, Chapter 27, by substituting the entry in column (4) against specified LPG tariff items with a new standard tariff percentage; the amendment is effective from the commencement date stated in the notification.

Late fee waiver for delayed GSTR-10 final return filings, limited to amounts above the specified threshold.
Waives the amount of late fee under the CGST regime in excess of five hundred rupees for registered persons who fail to furnish the final return in FORM GSTR-10 by the due date but furnish that return between 1 April 2023 and 30 June 2023.

Import prohibition with value threshold exception for cigarette lighter imports restricts entries unless CIF meets required threshold.
Import policy for pocket lighters gas-fuelled, both non-refillable and refillable, is amended from Free to Prohibited, with a conditional exception preserving Free import where the CIF value per lighter meets or exceeds the prescribed threshold; this revision is effected under powers of the Foreign Trade (Development & Regulation) Act and applicable Foreign Trade Policy provisions.

Commencement of Delhi GST Amendment: sections 2 to 15 except section 13 were appointed to commence on a specified date.
The Lieutenant Governor, exercising the power under sub section (2) of section 1 of the Delhi Goods and Services Tax (Amendment) Act, 2023, by Notification No. 18/2022 State Tax appoints the 1st day of October, 2022 as the date on which sections 2 to 15, except section 13 of the Act shall come into force.

Return filing extension: GSTR-3B deadline for specified Gujarat districts extended, effective from a stated June date.
The Commissioner, under sub section (6) of section 39 of the Central Goods and Services Tax Act, 2017, extends the due date for furnishing the return in FORM GSTR-3B for May 2023 for registered persons whose principal place of business is in Kutch, Jamnagar, Morbi, Patan and Banaskantha districts of Gujarat and who are required to file under sub section (1) of section 39 read with clause (i) of sub rule (1) of rule 61 of the Central Goods and Services Tax Rules, 2017; the notification is deemed effective from the twentieth day of June 2023.

Sponsor eligibility tightened: enhanced capital, liquid networth and governance conditions imposed for mutual fund sponsors and asset managers.
Amendments introduce a liquid networth definition, require conversion of trustee boards into trustee companies, and strengthen sponsor eligibility and capitalization criteria including multi-year profitability, positive networth and liquid networth linked to capital contribution or acquisitions. Where sponsors do not meet thresholds, enhanced AMC capitalization, share lock-ins, and senior management experience are mandated. Governance and compliance duties for trustees and the asset management company are expanded-detailed pre-launch and ongoing board due diligence, appointment and disclosure of key personnel, independent compliance reporting, Unit Holder Protection Committees, valuation norms, and mandated investments in specified development funds are prescribed.

E-invoice applicability expanded to more registered persons by lowering the turnover threshold, effective from August.
With effect from 1 August 2023 the turnover benchmark triggering the e-invoice obligation in the Kerala GST notification dated 14 May 2020 is lowered to five crore rupees, extending e-invoice applicability to registered persons whose turnover in any preceding financial year from 2017-18 exceeds the revised threshold, following the GST Council recommendation.

Option for Goods Transport Agencies to pay GST under forward charge extended; new registrants allowed a deferred opt in period.
The notification extends the deadline for GTAs to opt to pay GST under the forward charge for Financial Year 2023-2024 to 31st May, 2023 and requires the option to be exercised by making the declaration in Annexure V. GTAs commencing new business or crossing the registration threshold during a Financial Year may opt to pay GST under forward charge by declaring in Annexure V within forty five days of applying for registration or within one month of obtaining registration, whichever is later.

Arm's length price tolerance applies to trading and other cases; actual transaction price may be treated as arm's length for assessment.
The Central Government notifies that where the variation between the arm's length price under section 92C and the actual transaction price does not exceed prescribed tolerance limits for assessment year 2023 2024, the actual price shall be deemed the arm's length price. Wholesale trading is defined by two conditions: purchase cost of finished goods being eighty per cent or more of total cost, and average monthly closing inventory being ten per cent or less of sales; transactions meeting the prescribed variation thresholds are treated as at arm's length.

Exchange rate adjustment for Turkish Lira updates customs import and export reference rates, effective immediately.
The Central Board of Indirect Taxes and Customs, exercising powers under section 14 of the Customs Act, 1962, amends Notification No.44/2023 CUSTOMS (N.T.) by substituting the Schedule I entry for Turkish Lira (serial No.18) with new separate exchange rates for imported and export goods, effective from 24th June, 2023.

Charitable institution registration procedures updated with revised forms, codes and provisional approval timing.
Amendments revise procedural requirements and form content for registration and approval of charitable, religious, educational institutions and hospitals under the Income-tax Rules. Rules 2C, 11AA and 17A are modified to adjust cross references and add sub clause items, while Appendix II forms (10A, 10AB, 10AC, 10AD, 10B, 10BB) receive updated declaration text, new application codes, added "Nature of activities" rows, and revised annexure reporting. Provisional approval for specified applications is made effective from the assessment year corresponding to the year of application.

Research institution approval under section 35(1)(iii) grants tax deduction eligibility for qualifying social science research activities.
Approval is granted to M/s Patanjali Yog Peeth Nyas for its University of Patanjali, Haridwar, as a University, College or Other Institution for Social Science or Statistical Research for purposes of clause (iii) of sub section (1) of section 35 of the Income tax Act, read with the Income tax Rules; the approval is effective from Gazette publication with retrospective application to the previous year, enabling eligible research expenditure to receive the prescribed tax treatment subject to applicable rules and compliance.

UAV export controls eased: small drones now eligible for general authorization under GAED, reducing licensing requirements.
The substituted Category 5B recasts export controls on unmanned aerial vehicle systems, related equipment, propulsion systems, safing/arming mechanisms, production facilities, and associated technology and software; cruise missiles are excluded to the Munitions List. A carve out moves certain lower capability UAVs not otherwise controlled to a General Authorisation for Export of Drones (GAED), exempting qualifying exporters from per shipment SCOMET licenses during the authorisation period, subject to post reporting and documentary requirements, with GAED procedure to be notified separately.

Assessment withdrawal for registered persons follows specified return filing and payment of interest and late fee to qualify.
Assessment orders issued on or before the specified cut-off are deemed to have been withdrawn for registered persons who did not file a valid return within thirty days of service, provided they file the outstanding return by the notified deadline and pay the applicable interest and late fee. The relief applies irrespective of whether an appeal against the assessment order was filed or decided.

Lieutenant Governor of Ladakh given delegated rulemaking powers under the Industrial Relations Code, subject to presidential control.
The President delegates rulemaking powers under the Industrial Relations Code, 2020 to the Lieutenant Governor of the Union territory of Ladakh, subject to the President's control and limited to making rules where Ladakh is required to act as the appropriate Government or State Government; the delegation is temporary and operative until further order.

Occupational safety code allows delegated rulemaking for a Union territory's administration regarding workplace health and working conditions.
The Lieutenant Governor of Ladakh is directed under article 239 to exercise the powers and discharge functions of the appropriate Government or State Government to make rules under the Occupational Safety, Health and Working Conditions Code, 2020, subject to the President's control and until further order, limited to areas where the Union territory must make rules.