NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.

The Chief Commissioner, State Tax nominates an Additional Commissioner, State Tax to act as an officer of the State Government on the State-level Screening Committee on Anti-Profiteering. The nomination is made under the Rajasthan Goods and Services Tax framework pursuant to the power to appoint officers and the related Finance Department notification.

Deemed approval of GST registration applications was withheld during the COVID lockdown because the period was treated as having no working days and misuse was apprehended. Pending applications were to be cleared through a special drive before the three-working-day deemed-approval mechanism resumed. Applications remaining pending on the specified date were to receive deemed approval, while cases approved during lockdown because of technical glitches could be subjected to physical verification of business premises where required.

The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.

State Tax officers of the rank of Joint Commissioner, Deputy Commissioner and Assistant Commissioner are authorised to exercise powers under sub-rules (1) and (2) of rule 86A of the Rajasthan Goods and Services Tax Rules, 2017. Exercise of the authorisation is confined to each officer's respective jurisdiction and is effective from 31 December 2019.

Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.

Physical verification of business premises is to be applied uniformly for registration under the RGST Rules, 2017. Where Aadhaar is not furnished, registration should ordinarily follow physical verification; document-based registration instead requires prior approval from the concerned Additional Commissioner (Administration). Written permission is required for verification visits in notified or high-risk cases, and reports with photographs must be cross-verified and uploaded in FORM GST REG-30. Deemed registration should generally be avoided and is prohibited where Aadhaar has not been furnished.

Proper-officer functions for assessment under section 73 and return scrutiny under section 61 are assigned to the Additional Commissioner (ST) (FAC), Abids Division, for specified listed taxpayers. The assignment covers the financial years 2019-20, 2020-21 and 2021-22 according to the tasks indicated against each taxpayer. Assessments for the listed cases must be undertaken only through the Scrutiny Module and by following the prescribed procedure under the TGST and CGST Acts, 2017.

The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.

The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.

Interim protection against coercive entry-tax recovery was granted while challenges to saving-provision amendments and a removal-of-difficulty order await further consideration. The challenges concern provisos authorising executive measures to implement a repealed entry-tax enactment and recovery procedures prescribed under the order. A prima facie view recognised that, following repeal of the enactment and omission of the relevant State List entry, legislative competence to facilitate entry-tax collection may no longer exist, although actions already taken under the saving clause may remain preserved. Final hearing was adjourned pending the State's response, and no coercive action may be taken against the petitioners meanwhile.

Interest under the Rajasthan GST law is directed to be recovered on the net cash tax liability for the period from 1 July 2017 to 31 August 2020. Net cash tax liability covers tax paid or payable through the electronic cash ledger. Show-cause notices seeking interest on gross tax payable are to be kept on hold pending retrospective amendment of the interest provision. Prescribed information on such notices must be collected and submitted, with strict compliance required.

For February through August 2020, rule 36(4) required cumulative reconciliation of input tax credit availed in GSTR-3B with eligible invoices and debit notes uploaded by suppliers up to the September 2020 GSTR-1 due date. Cumulative credit could not exceed 110% of eligible credit reflected in uploaded documents and remained subject to general credit eligibility conditions. Excess credit identified through reconciliation had to be reversed in Table 4(B)(2) of the September 2020 GSTR-3B, while the restriction applied independently for September 2020.

E-way bill exemption is granted for motor vehicles transported solely for road testing, where movement is other than by way of supply. The taxpayer must execute adequate bond, move vehicles under a prescribed delivery challan and trade plate, maintain dispatch-and-return records, and submit electronic monthly accounts. Where vehicle value exceeds bond coverage, a differential bond is required before removal. The taxpayer remains accountable for goods moved without an e-way bill, and breach of conditions may result in withdrawal of permission.

The Quarterly Return Monthly Payment Scheme allows eligible registered persons to furnish FORM GSTR-3B and FORM GSTR-1 quarterly while depositing tax for the first two months through FORM GST PMT-06. Taxpayers may use either the fixed sum method based on prior cash payments or the self-assessment method using current liability and available input tax credit. Optional Invoice Furnishing Facility reporting permits selected invoices to be reflected for recipients before quarterly FORM GSTR-1 filing. Deposits are applied to quarterly return liability, and interest and late-fee consequences depend on timely monthly deposits and quarterly filings.

Profit from sale of a real-estate developer's building is treated as capital gains where the property was consistently recorded as an investment, interest on acquisition borrowings was capitalised, and the overall facts support investment character. Treatment of rental receipts as business income alone does not convert the property into stock-in-trade. The resulting gain may qualify for deduction under Section 54EC where the applicable conditions are met. The decisive test is the taxpayer's consistent treatment of the immovable property and the surrounding circumstances.

Electronic credit ledger restrictions under Rule 86A of the Telangana Goods and Services Tax Rules, 2017 may be exercised by authorised State Tax officers. The Deputy Commissioner (ST) of the Strategic Taxpayer Unit is authorised for registered persons within that unit's jurisdiction, while the Assistant Commissioner (ST) of the relevant circle is authorised for registered persons within that circle's jurisdiction. The authorisation is deemed effective from 24 December 2019.

Business deductions were considered allowable for liabilities crystallising during the year and correction of wrongly capitalised expenditure, where the claim was genuine and revenue-neutral. No disallowance under section 14A was permissible without exempt income. Scientifically computed contractual warranty provisions, software maintenance charges and licence fees conferring only a right to use software were treated as revenue expenditure. Additional-wage deduction was available where prescribed certification and employee particulars were verified. Light motor vehicles meeting the applicable commercial-vehicle definition qualified for enhanced depreciation. Bad debts written off after earlier taxation of the related income could be allowed by the appellate authority despite omission from the original return.

Guarantee covenants requiring disclosure and preservation of assets can support interim restraints over both scheduled property and undisclosed non-suit assets where non-disclosure creates a risk of dissipation. Order XXXIX Rule 1(b) of the Code of Civil Procedure permits protective injunctions against property dealings intended to defeat creditors, and lack of asset particulars caused by a guarantor's refusal to disclose does not defeat such relief. Personal obligations under guarantees and negative-lien undertakings may found territorial jurisdiction where defendants reside. Pre-institution mediation under the Commercial Courts Act is not mandatory where urgent interim protection against alienation or dissipation of assets is sought.

Article 342 confines the specification, inclusion and exclusion of Scheduled Tribes to the constitutional process involving the President and Parliament; a State executive notification cannot confer Scheduled Tribe status on Lohars, who are distinct from the listed Lohara and Lohra communities. Repeal of a prior amendment does not authorise executive alteration of that status, and extending Scheduled Tribe certificates and benefits to Lohars is arbitrary under Article 14. Article 32 remained available because the notification led to criminal proceedings affecting personal liberty. The invalid extension was nullified, Lohara status remained unaffected, criminal proceedings were not quashed, and costs were imposed for the constitutional infringement.