Section 194A(3)(v) exempts interest credited or paid by a co-operative society to its members from tax deduction at source, including where the society carries on banking business. The separate provision concerning deposits with co-operative banks does not override this member-specific exemption. Before the prospective amendment effective from 1 June 2015, interest paid by a co-operative bank to its members, including interest on time deposits, remained outside the tax deduction at source requirement. Co-operative banks therefore had no obligation to deduct tax on such member interest for the relevant pre-amendment period.

Delhi GST exemption applies to satellite launch services supplied by the Indian Space Research Organisation, Antrix Corporation Limited, or New Space India Limited. The services are included in the exemption schedule at nil central tax and nil State tax. The exemption takes effect from 16 October 2020.

Rectification is sought for supplier-uploaded credit notes incorrectly reported as temporary ITC reversals in Table 4(B)(2), rather than being considered under Table 4(A)(5). Amounts were subsequently reclaimed through Table 4(A)(5) and Table 4(D)(1), became available in the Electronic Credit Ledger, and remained unutilised. Clarification is sought on correcting the position in a later GSTR-3B through reduction of eligible ITC, voluntary reversal, or another prescribed mechanism, along with interest, penalty, and reconciliation requirements.

Ad hoc IGST exemption applies until 30 June 2021 to specified COVID-19 relief goods imported free of cost for free distribution in India. Imports may be made by a State Government or an entity, relief agency, or statutory body authorised by the State-appointed Nodal Authority. Before customs clearance, the importer must furnish the prescribed Nodal Authority certificate. Designated customs facilitation and coordinated, timely clearance apply to authorised imports.

Customs clearance may proceed on acceptance of an undertaking in lieu of prescribed bonds during the specified relaxation period. The facility covers bonds required for provisional assessment, warehousing, and other customs purposes, subject to replacement with a proper bond by 15 July 2021. Eligible entities include public-sector bodies, manufacturer or actual-user importers, Authorised Economic Operators, status holders, and warehousing importers. The undertaking must reflect prescribed bond terms and cannot substitute mandated security. Warehousing transfers and ownership changes remain restricted to specified eligible categories.

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.

Ward Officers acting as Pairvi Officers must comply with court summons, notices, orders and directions, attend required hearings, and produce records in accordance with due procedure. They must timely prepare litigation documents and evidence, coordinate with government counsel and relevant officials, preserve confidentiality, and maintain updated records of court-related activities. Negligence causing an adverse judicial ruling remains the responsibility of the concerned officer or official, and non-compliance may attract strict action under law.

From commencement, the Securities and Exchange Board of India regulations governing insider trading and fraudulent and unfair trade practices in the securities market cease to apply within the International Financial Services Centre. Actions taken, or purportedly taken, under those regimes before commencement remain preserved and are deemed to have been taken under the corresponding market-abuse provisions.

The Authority may relax strict enforcement of any market-abuse regulatory requirement where this serves development of the financial services market in the International Financial Services Centre, with reasons recorded in writing. An applicant must submit grounds and details of the requested relaxation with the prescribed non-refundable fee. A complete application, including clarification responses, must be processed within sixty days, and reasons must be recorded for acceptance or refusal.

Power to specify implementation norms and issue clarifications enables the Authority to prescribe subsidiary norms, procedures, processes and additional requirements necessary for implementing the prohibition of market abuse framework and incidental matters. It also permits issuance of clarifications where required for operational application of regulatory requirements.

Power to remove difficulties authorises the Authority to issue directions or clarifications through subsidiary instructions where difficulties arise in interpreting or applying provisions governing prohibition of market abuse in securities markets.

The Authority may act against a person it regulates for contravening market-abuse requirements. Without limiting action available under the Act or other regulations, it may issue a warning or censure, or suspend or cancel registration. Such action requires a reasoned written order and must be taken in the interests of investors and the securities market.

Contraventions of the International Financial Services Centres Authority (Prohibition of Market Abuse in Securities Markets) Regulations, 2026 are subject to action by the Authority under the corresponding provisions of the Act.

Listed entities must maintain adequate and effective internal controls and a code of conduct to prevent market abuse. Controls must protect the confidentiality of material non-public information, restrict its procurement and communication, identify employees with access to it, and be periodically reviewed for effectiveness. The Authority may impose additional standards for these controls and codes of conduct.

Regulation 8 prohibits manipulative, fraudulent and unfair securities-market practices, including false trading appearances, artificial price or demand creation, circular transactions, non-genuine orders, misleading information, and fraudulent inducement. It also bars unauthorised client transactions, misuse of client assets, falsification of market records, mis-selling, and manipulation through an entity's assets or financial statements. Dealings in stolen, counterfeit or fraudulently issued securities are prohibited, subject to specified protections. The listed practices are non-exhaustive, and conduct falling within regulation 7 remains prohibited.

Regulation 7 prohibits persons from directly or indirectly engaging in fraudulent, manipulative or deceptive dealings in securities. It covers fraudulent buying, selling or other dealings; manipulative or deceptive devices in securities trading; schemes or artifices to defraud; and conduct operating as fraud or deceit in connection with dealings in or issuance of securities listed or proposed to be listed. The prohibition applies to conduct contravening the applicable securities-law framework.

Designated persons must disclose acquisitions or disposals of specified securities by themselves or immediate relatives within two trading days when the aggregate quarterly traded value exceeds the prescribed threshold. Specified securities include equity instruments, debt securities and derivative instruments, while equity instruments include equity shares, convertible debentures, preference shares and share warrants. Listed entities must notify the recognised stock exchanges and publish qualifying disclosures on their websites within two working days of receipt.

Pending Customs refunds, IGST refunds and duty drawback claims are prioritised for processing and disposal under a Special Refund and Drawback Disposal Drive running from 15 May to 31 May 2021. Exporters, customs brokers and trade or industry associations are requested to assist claimants in furnishing documents required for pending claims. Communications on pending drawback claims are to be made through the designated drawback email channel, and designated personnel serve as contact points for drawback and IGST-related matters.

Trading while in possession of material non-public information is prohibited for insiders, and such trading is presumed to be based on that information unless the insider explains the circumstances. Recognised explanations include informed transactions between equally informed insiders without breach of communication restrictions, statutory or regulatory obligations, compliant stock-option exercises, and pre-disclosed irrevocable trading plans. Non-individual insiders must establish effective separation of information holders from trading decision-makers and safeguards against information sharing.

Communication, access and procurement of material non-public information relating to listed or proposed-to-be-listed entities or securities are prohibited unless undertaken for legitimate purposes, performance of duties or discharge of legal obligations. Legitimate-purpose sharing may occur in the ordinary course of business with specified commercial and professional recipients, provided it does not evade market-abuse prohibitions. Any recipient obtaining such information for legitimate purposes is treated as an insider and must comply with the applicable restrictions.