Section 74 permits extended GST limitation only where available material supports a rational prima facie view that a tax shortfall, erroneous refund or wrongful credit arose by reason of fraud, wilful misstatement or suppression of facts to evade tax. Final proof is not required at initiation, but suspicion or bare statutory labels are insufficient. Prior scrutiny, audit, inspection or pre-notice communications may provide the factual foundation if actually communicated and linked to the notice. The notice and final order must preserve fair opportunity, disclose the material basis, and remain within the grounds stated.

Portal-only GST service may be inadequate where it does not provide effective notice of the complete show cause notice or reasoned order and thereby denies a meaningful opportunity to respond. Section 169 permits Common Portal availability as a mode of service, but Rule 142 distinguishes FORM GST DRC-01 and DRC-07 electronic summaries from the underlying notice or order. Section 75 requires a hearing where an adverse decision is contemplated and reasons in the adjudication order. Retrospective expansion of Common Portal functions does not by itself cure deficient communication. For appellate limitation, proof of upload or dispatch may not establish effective communication where accessibility, actual or constructive knowledge, or retrieval of the complete communication remains unproven.

DBS MAX enables businesses to access multiple payment aggregators through a single integration, reducing the effort required for separate gateway connections or changes between supported aggregators. The platform supports merchant-defined intelligent routing and provides consolidated visibility across payment gateways and methods for transaction success rates, refunds and reconciliation. Gateway-agnostic card tokenisation supports movement between supported gateways, while the combined functionality is intended to improve payment resilience, optimise transaction flows and strengthen control over digital-payment collections.

Using the statutory GST exemption power, Goa substitutes the entry at serial number 1, column (4), of the relevant GST rate table with "9%". The substitution takes effect on 22 September 2025 and revises the percentage applicable to that specified table position. No further change to another serial number, column, condition, or effective-date mechanism is specified.

A complete assignment of an industrial lessee's entire leasehold interest, together with the building on the plot, is distinguished from leasing, renting, or sub-leasing. Where the assignor retains no reversionary interest or continuing right to earn rent, the consideration is for transfer of proprietary rights constituting benefits arising out of land. Schedule II classification of an original lease as a service does not govern the subsequent absolute assignment. Section 7(2), read with Schedule III, excludes a qualifying transfer of immovable-property benefits from the scope of supply.

Regulation 73 repeals specified market infrastructure, depository and IFSC regulatory provisions upon commencement of the 2021 Regulations. Depository participant and issuer provisions continue to apply in an IFSC. Prior actions under the displaced framework are preserved and deemed to have been taken under corresponding provisions of the 2021 Regulations. A specified circular is superseded, while other applicable circulars and guidelines remain in force until replaced by regulations, circulars or guidelines issued by the Authority.

The Authority may prescribe, through circulars, norms, procedures, processes, manners and guidelines for market infrastructure institutions to implement the regulatory framework and address incidental matters. The power permits operational specification of requirements and clarification of implementation arrangements, including processes and methods to be followed where matters are provided for under the regulations and connected with their implementation.

Relaxation of regulatory requirements may be granted by the Authority in the interest of developing and regulating financial services in an IFSC. A request must be made through an application stating the relevant details and grounds and accompanied by a non-refundable fee of USD 1500. A complete application must be processed within thirty days, with reasons recorded for acceptance or refusal. Reasons for rejection must be communicated to the applicant.

Power to remove difficulties authorises the Authority to issue directions through guidance notes or circulars where difficulties arise in interpreting or applying the Market Infrastructure Institutions Regulations, 2021.

Recovery of inspection and investigation expenses permits the Authority to recover from a recognised market infrastructure institution expenses incurred in examining its books of account, records, documents, infrastructure, systems and procedures, including fees paid to auditors.

The Authority may appoint an auditor to inspect or investigate a recognised market infrastructure institution's books of account, records, documents, infrastructure, systems, procedures, or affairs.

Directions by the Authority may be issued without limiting powers under the IFSCA Act or related rules and regulations. Directions may be initiated on the Authority's own motion, upon receipt of information, or during or after an inspection, inquiry, or investigation, where appropriate to protect public, trade, investor, or securities market interests in an IFSC.

Inspection powers permit the Authority to inspect, inquire into, and audit a market infrastructure institution, its associates, and its shareholders at any time. Relevant managers, directors, officers and employees must cooperate during an inspection. Following consideration of an inspection or investigation report, the Authority may take such action as it considers fit and appropriate.

The Authority may, at any time, require information, documents or records from a recognised market infrastructure institution, its governing board, or any shareholder. This power enables regulatory access to material held by the institution and persons connected with its governance or ownership.

Returns and reporting obligations require every recognised market infrastructure institution to furnish returns, statements and particulars to the Authority in the manner specified by it. Each institution must also submit its annual financial statements and returns to the Authority by 30 September each year. Recognised stock exchanges and recognised clearing corporations must additionally include information required under rules 17 and 17A in their reports.

Recognised market infrastructure institutions must appoint a compliance officer to monitor compliance with applicable laws, including securities laws, the IFSCA Act, and rules and regulations made under it. The compliance officer is responsible for redressal of investors' grievances and must immediately and independently report any observed noncompliance to the Authority.

Market infrastructure institutions must, in addition to obligations under other applicable laws, maintain and preserve all books, registers, documents and records relating to the issue or transfer of their securities. Records must be kept in electronically retrievable form for a minimum period of twenty years.

Recognised market infrastructure institutions must maintain a website or another universally accessible electronic information repository. It must publish required regulatory information, all rules, regulations, bye-laws, guidance and amendments, membership or association application procedures, and material information concerning institutional functions.

Recognised depositories must ensure equal, unrestricted, transparent and fair access for all persons, without bias in favour of their associates or related entities.

Every recognised depository must incorporate in its bye-laws a procedure governing the creation of a pledge by beneficial owners over securities owned by them. The operational mechanism for pledging such securities must therefore be addressed through the depository's prescribed internal procedures.