Customs amendments updating trade policy references and exemptions to align import conditions with new Foreign Trade Policy.
The Central Government amends specified Customs exemption notifications to substitute prior references and definitions with those in the Foreign Trade Policy 2023 and Handbook of Procedures 2023, update internal paragraph and condition cross references, standardise definitions (including Replenishment Authorisation and Letter of Permission), revise nominated agency lists where applicable, and insert an explicit exclusion preventing the exemption from applying to import or procurement for wind and solar captive power plants.

Exemption for fabrics under Special Advance Authorization enables duty free import for export linked garment manufacture, subject to compliance.
Exemption applies to fabrics (including interlining) imported against a valid Special Advance Authorization under para 4.04A, exempting specified customs and ancillary duties subject to conditions: production of the authorisation at clearance; authorisation limited to fabrics with importer/supporting manufacturer details and export specifications; conformity of imports to authorisation and para 4.12; execution of a bond with security to pay duty with interest if conditions breach; imports/exports via specified ports/SEZs; pre import SION or equivalent compliance; discharge and evidence of export obligation for garments under Chapter 61 or 62 within authorised periods; non transferability except permitted job work; and re export of defective fabrics within prescribed timelines.

EPCG Scheme exemption permits zero customs duty on capital goods subject to export obligation, bond and installation requirements.
Specified capital goods, CKD/SKD kits and related spares are exempted from basic customs duty, integrated tax and compensation cess under the EPCG Scheme subject to a valid EPCG authorisation registered at the port of import, production of the authorisation at clearance, execution of a bond or bank guarantee securing fulfilment of an export obligation measured on FOB basis linked to duty saved, prohibition on disposal until the obligation is met, installation and use certification within prescribed periods, and use of designated ports/ICDs/LCSs or SEZs.

Duty credit issuance: export duty credits allowed only for specified garments, conditioned on export proceeds realisation and recovery safeguards.
Duty credit for exported garments and made ups is issuable only for specified items and rates, claimed via shipping bill or electronic entry and allowed by Customs after checks; credits are usable solely for payment of customs duty on imports. Credits are conditional on realisation of export sale proceeds within the foreign exchange law period, with specific ineligibilities and special rules for certain destinations. Cancellation, suspension and recovery procedures apply where provisions are contravened or proceeds are unrealised, including repayment with interest and recovery under the Customs Act.

Duty Free Import Authorisation: customs duty exemption for imports subject to documentation, SION compliance and export obligation fulfilment.
Exemption from customs duty is granted for materials imported under a valid Duty Free Import Authorisation issued by the Regional Authority under the Foreign Trade Policy, 2023, subject to production of the authorisation at clearance, endorsement of SION and shipping bill details thereon, conformity of imported materials' description, specifications, value and quantity to the authorisation, fulfilment of export obligations within the policy timeframe, evidence of such fulfilment to customs satisfaction, permitted ports/SEZ channels or special permission by the Commissioner, transferability subject to conditions, and re-export of defective materials within prescribed periods upon identification to customs satisfaction.

Advance Authorisation exemption for inputs for prohibited exports allows customs duty relief subject to compliance and obligations.
Materials imported under an Advance Authorisation issued under the Foreign Trade Policy, 2023 for manufacture of a resultant product that is prohibited for export are exempted from customs duty, additional duties, integrated tax, compensation cess, safeguard, countervailing and anti-dumping duties, subject to conditions including production of the authorisation at clearance, conformity to its specifications, adherence to SION or prior-fixed norms, execution of a bond securing duty payment if conditions fail, discharge of export obligations through specified ports/ICDs/LCSs, non-transferability and actual user restrictions, and permitted re-export if materials are defective.

RoDTEP duty credit rules: issuance, electronic claim requirements, use for customs duty, realisation and recovery conditions.
Duty credit under RoDTEP is issued in lieu of remission of duties/taxes on inputs used in exported goods where not otherwise exempt, at notified rates/caps with value limited to declared FOB or up to 1.5 times market price. Claims require item level declaration in the shipping bill, bill of export or electronic export entry and processing on the customs automated system; issuance is subject to customs checks, filing of export manifest/report and applicable e scrip/electronic ledger rules. Duty credit is usable only for customs duty payments on imports and is conditional on realisation of export proceeds within the FEMA period; ineligible export categories are set out in the annexed Table.

Exemption from customs duty for imports under Advance Authorisation for Annual Requirement subject to prescribed compliance and bonds.
The notification exempts materials imported against a valid Advance Authorisation for Annual Requirement with actual user condition from customs duty and specified additional levies, subject to production of the authorisation, compliance with SION and declaration requirements, execution of bonds or submission of certificates where export obligations or credit facilities interact with exemption eligibility, permitted ports and warehouses, restrictions on disposal, and specified exclusions for particular supply categories.

Advance Authorisation exemption for imported materials permits duty free inputs subject to compliance, bonds, and export obligation discharge.
Exempts materials imported for manufacture of specified final goods from customs and certain additional duties when imported under an Advance Authorisation for deemed export, conditional on production of the authorisation with detailed endorsements, discharge of export obligations, bonds or securities where obligations remain, post clearance certification of use if Central Excise facilities were availed, permitted movement through specified ports or SEZs, non transferability except to compliant job workers, and specified exclusions for safeguard and anti dumping duties.

Advance Authorisation exemption for imported inputs permits duty relief subject to authorisation, bonds, and proof of export fulfilment.
Exemption from customs and specified ancillary duties is extended to materials imported under a valid Advance Authorisation issued under the Foreign Trade Policy, 2023, provided the authorisation is produced at clearance, the imported materials match the authorisation's description and limits, and required bonds, securities or alternative proofs and certificates are furnished where exports obligations are not yet discharged or where tax credits or rebates have been availed. Restrictions apply to permitted ports, transfer of materials, timelines for export obligation discharge and re export of defective goods.

Tax exemption for specified authority granted, subject to non-commercial and compliance conditions and retrospective application to prior financial years.
The Central Government grants tax exemption under clause (46) of section 10 to Bhadohi Industrial Development Authority in respect of specified receipts: disposal and long-term leases of immovable property, lease rent and related fees, interest/penalties on deferred payments from allottees, water/sewerage and municipal charges from allottees, and interest on these receipts. The exemption is subject to conditions limiting commercial activity, preserving the nature of activities and incomes, and prescribed return filing, and is applied retrospectively for specified prior financial years.

Export supply obligation: petroleum exports now require domestic supply confirmation and periodic reporting under amended policy.
Amendment conditions free export of specified motor gasoline and gas oil HS codes on a self-declaration that a prescribed portion of the Shipping Bill quantity has been or will be supplied in the domestic market during the relevant financial year, requires quarterly returns to the Ministry of Petroleum and Natural Gas, and exempts exports to Bhutan and Nepal and units that are 100% EOUs or in SEZs.

Revisional Authority appointment: Commissioner, State Taxes Department designated to revise orders under Section 108 of Jammu & Kashmir GST Act.
Appointment designates the Commissioner, State Taxes Department, Jammu and Kashmir as the Revisional Authority to re-examine decisions or orders referenced for revision under Section 108 of the Jammu and Kashmir Goods and Services Tax Act, by virtue of powers under clause (99) of Section 2 read with sub section (1) of Section 4 of the Act, thereby vesting the Commissioner with authority to exercise revisionary review within the State GST framework.

Material accounting policy information now governs disclosure and deferred tax recognition for leases and decommissioning on transition.
The amendment requires first time adopters and entities applying the amendment to recognise deferred tax assets and liabilities for deductible and taxable temporary differences arising from right of use assets and lease liabilities and from decommissioning, restoration and similar liabilities and their corresponding capitalised asset amounts; it prescribes prospective application and transition mechanics, including recognition in the opening retained earnings (or other equity component) of the earliest comparative period presented. The notification also replaces "significant accounting policies" with material accounting policy information and clarifies disclosure and judgment requirements for accounting policies and accounting estimates.

National Savings Monthly Income Account limits increased to fifteen lakh by amendment, effective on Gazette publication.
The Amendment substitutes higher monetary figures in paragraph 4(2) of the National Savings (Monthly Income Account) Scheme, replacing "rupees four lakh fifty thousand" with "nine lakhs" and replacing the existing "nine lakhs" figure with "fifteen lakh," thereby increasing the investment ceilings; the Scheme is made under the Government Savings Promotion Act, 1873 and comes into force on publication in the Official Gazette.

Women-focused savings certificate provides single-holder term deposits with defined withdrawal and premature closure rules.
The Mahila Samman Savings Certificate, 2023 establishes a single holder savings account for women and minor girls (via guardians) with prescribed application and KYC requirements, limits on deposits and account openings, quarterly compounded interest at the Scheme rate, defined maturity and rounding rules, a one time partial withdrawal after one year, restricted premature closure for death or compassionate grounds with specified interest consequences, agency charges for operations, application of General Rules where silent and a power for the Central Government to relax provisions in cases of undue hardship.

Extension for revocation of cancelled GST registration permits late applications if returns are filed and dues paid.
Extension allows registered persons whose registration was cancelled under clause (b) or (c) of section 29 and who missed the section 30 deadline to apply for revocation by the extended date, provided they have furnished all returns due up to the effective cancellation date and paid tax plus any applicable interest, penalty and late fee; no further extension will be available. The extension also covers persons whose appeals under section 107 were rejected for failure to meet the section 30 time limit.

Limitation period extension for recovery of unpaid GST permits issuance of assessment orders for specified fiscal years.
The Government extends the limitation period under sub section (10) of section 73 for issuance of orders under sub section (9) of section 73 to permit recovery of tax not paid or short paid and reversal of input tax credit wrongly availed or utilised, by partly modifying earlier finance department notifications.

Late fee waiver for final GST return filings permits waiver where final return is filed within the amnesty period.
The State Government waives the portion of the late fee under the final-return provision that exceeds five hundred rupees for registered persons who failed to furnish FORM GSTR-10 by the due date, provided they furnish the return between 1 April 2023 and 30 June 2023, implementing an amnesty limited to the excess late fee component.

Late fee waiver for annual GST returns: excess fees capped and amnesty offered for past non filers who file within the window.
Late fee for annual GST returns for 2022-23 onwards is waived to the extent it exceeds specified per-day amounts and a turnover-linked maximum for two turnover classes: registered persons with turnover up to five crore face a per-day late fee of twenty-five rupees with a maximum of 0.02% of turnover; those with turnover above five crore up to twenty crore face a per-day late fee of fifty rupees with the same percentage cap. An amnesty allows waiver of late fee exceeding ten thousand rupees for certain earlier-year returns if filed within a designated 2023 window.