The listing rules define equity instruments to include equity shares, convertible debentures and preference shares issued by Indian companies. Unlisted public companies in International Financial Services Centres fall within the rules subject to compliance with applicable IFSC law and regulations, while public companies in that jurisdiction are excluded from rule 3(a). Companies with negative net worth may issue instruments for listing if they undertake to allot at least 75% of the net offer to qualified institutional buyers under the relevant jurisdiction's securities regulations. Rule 5(e) replaces "two years" with "more than six months", and rule 5(g) adds that the specified default must remain unremedied. The replacement Form LEAP-1 req.....

Dividends paid by an International Financial Services Centre (IFSC) unit primarily engaged in aircraft leasing to a company that is an IFSC unit primarily engaged in aircraft leasing are subject to no tax deduction at source under section 393(1) of the Income-tax Act, 2025, subject to a declaration. The payee must furnish and verify Form 1(N), identifying the tax year and confirming eligibility for the dividend exemption and continued IFSC and aircraft-leasing status. The payer must not deduct tax on payments made or credited after receipt of the declaration and must report those payments in its tax deduction statement. The measure applies retrospectively from 1 April 2026.

From 1 April 2027, mutual fund schemes may net funds for outright cash-market transactions within the same scheme and settlement cycle. An outright transaction is a purchase or sale, but not both, in the same security during that cycle; transactions involving both are excluded from netting and settled on a gross basis. Cross-scheme netting is prohibited, and excess outright sale proceeds cannot offset non-outright purchase obligations. Each scheme must fund any residual outright purchase obligation. Derivatives, securities lending and borrowing, and short-sale-related transactions are excluded. Securities remain subject to gross, delivery-backed settlement, with applicable securities transaction tax and stamp duty charged on delivery. AMCs .....

Domestic clients and foreign portfolio investors may hold long or short INR currency derivatives without establishing underlying exposure up to an aggregate outstanding notional limit of USD 5 million across all INR currency pairs and recognised stock exchanges. Foreign portfolio investors' short positions across foreign currency-INR contracts and stock exchanges must not exceed USD 5 million; long positions above that limit require underlying exposure to Indian debt or equity securities, including equity or debt mutual fund units. Domestic clients may exceed the limit subject to RBI risk-management requirements. Additional requirements address cancellation and rebooking of foreign exchange derivatives and documentation for hedging contracted exposures. Stock exchanges and clearing corporations must implement and communicate the changes.

Petroleum Wharf Budge Budge Jetty No-03 is designated a customs area under Section 8 of the Customs Act, 1962, exclusively for loading dry fly ash onto barges for export to Bangladesh through the riverine protocol route via Hemnagar LCS. The permission is limited to that export activity and requires strict compliance with the Customs Act, Public Notice No. 37/2018 and other applicable circulars, orders and public notices.

Supplementary import and export general manifest filings are permanently disabled at all remaining ports with effect from 12 August 2026. All adjustments, amendments and supplementary details must be submitted through standard Sea Cargo Manifest and Transhipment Regulations amendment messages, SAA or SDM. Legacy or manual supplementary formats are not accepted after that date. Trade stakeholders, shipping lines and agents must follow the standard amendment process and may report operational or technical difficulties to the customs office.

International transshipment of full-container-load cargo affected by maritime disruptions may move between the port terminal and designated container freight stations (CFS) at Kandla with customs permission and under a custodian-cum-carrier bond. Shipping lines must file the import manifest using the transshipment cargo code; container numbers and seal integrity must be verified at both ends of each movement. Containers must remain sealed in approved, demarcated storage without opening or reworking, and discrepancies must be reported immediately. Shipping lines or agents must ensure onward transshipment or re-export within 30 days of the importing vessel's entry inward, or seek an extension before expiry for reasons beyond the shipping line.....

Customs procedures and practices followed by Jawaharlal Nehru Custom House (JNCH) apply in the Jamnagar Customs (Preventive) jurisdiction, with necessary adaptations. Departures are permitted where specific local requirements, including infrastructural or geographical constraints, make them necessary. Stakeholders may report processes that differ from JNCH's documented practices to the headquarters technical section for examination and appropriate action. The adoption covers practices established through public notices, standing orders, trade notices, office orders and other instructions.

At Jawaharlal Nehru Customs House, temporary imports and re-exports under ATA Carnets require no separate bill of entry or shipping bill, although cargo details must be entered for sea manifest matching. Goods for display, demonstration or use at exhibitions and similar events qualify for duty-free temporary admission subject to applicable conditions. A Centralised Carnet Cell processes and monitors transactions, while customs officers physically examine goods on import and re-export. Closure after re-export through the customs house requires verified records, including the final bill of lading. For re-export through another port, proof and required documents must reach the cell within one month. Permitted domestic sales require payment of .....

GST prosecution restrictions do not apply to an entire FIR that also alleges offences under the Bharatiya Nyaya Sanhita. At the preliminary stage, alleged lack of prior sanction or non-compliance with the applicable notification cannot invalidate the whole FIR. Ad interim protection was refused, while objections to the inclusion of GST offences remain open for consideration at trial or another appropriate stage under the Bharatiya Nagarik Suraksha Sanhita. The parties may pursue their substantive contentions before the Writ Court and other appropriate forums.

Writ jurisdiction may be used to reopen a GST appeal dismissed solely for delay where the computation of tax remains unadjudicated. Condonation of delay allows the appeal under Section 107 of the J&K GST Act, 2017 to be treated as filed within time and returned to the appellate authority for a decision on merits. The authority considers the tax computation after hearing both parties; the merits remain for that authority to determine.

Effective service of GST notices and an opportunity to answer a show cause notice are required for compliance with natural justice. Where portal-based service is ineffective, the department must use alternative statutory modes under Section 169 of the GST Act, such as registered post with acknowledgement due. Proceedings conducted without a hearing or opportunity to respond breach natural justice. The proceedings concerned IGST credit inadvertently reported under CGST and SGST and corrected in a subsequent GSTR-3B return.

Transitional input tax credit is a vested and indefeasible right where eligibility is undisputed and the unutilised credit arises from duty or tax paid. Credit declared on time in Form TRAN-1 cannot be denied solely because it is reported under Section 140(5) instead of Section 140(1) of the CGST Act, 2017, or in an incorrect column, where eligibility and quantum are undisputed.

The concessional GST rate for works contracts requires a qualifying recipient and predominantly non-commercial use. Co-operative society registration and government funding or supervision do not by themselves establish Government Entity status, while buildings intended for manufacturing yarn for sale serve a commercial purpose. Interest on unpaid differential GST is compensatory and is not waived for bona fide reliance. Section 73(9) penalties apply without fraud and cannot be waived for bona fides; payment of tax and interest within 30 days of notice provides the statutory route to avoid penalty. Cum-tax valuation requires tax-inclusive receipts, not consideration invoiced exclusive of tax. Input tax credit requires proof of suppliers' tax.....

After postal authorities confirm export, Customs at the foreign post office captures the details in the prescribed Excel template or iCAN lite. Recording is at invoice level to match GSTN validation data: where a Postal Bill of Export covers multiple invoices, each invoice requires a separate line repeating the shipping bill number, date, GSTIN and other common details. Only the system manager for master site INBOM4 submits the completed template to the Directorate General of Systems and Data Management, using the prescribed file-naming format, by the tenth of the following month. After validation, the shipping bill details appear under the relevant drawback officer's role at the master site and are processed like other shipping bills relating to IGST.

Monetary-limit directions issued by CBIC under section 120 of the CGST Act are mandatory for Central Tax officers. The applicable circular directs that departmental appeals involving amounts below Rs. 20 lakh must not be filed before GSTAT. Indiscriminate litigation contrary to the National Litigation Policy wastes judicial time and imposes unnecessary expenditure on respondents. An appeal filed below the threshold without a valid explanation or exceptional circumstances was permitted to be withdrawn, with litigation costs payable by the appellant to the respondent within one month.

Section 75(7) of the CGST Act confines confirmation of a demand to the grounds specified in the show cause notice. A charge concerning suppliers' non-filing of GSTR-3B returns under section 16(2)(aa), which was not in force during the relevant financial year, cannot be replaced at adjudication by a distinct charge of suppliers' non-payment of tax under section 16(2)(c). Omission of a statutory sub-clause is distinguishable where the relevant facts and charge were conveyed. An input tax credit demand confirmed on an unnotified ground is unsustainable, as are the associated interest and penalty.

Input tax credit reported under an incorrect tax head does not, by itself, establish excess credit. The aggregate credit balance and actual availability, admissibility and utilisation require verification against original records and the electronic credit ledger, rather than annual-return figures alone. Differences in reported figures require reconciliation. Consequential interest and penalty cannot independently survive if the principal demand is unsustainable. For purchase-related credit, invoice reflection in GSTR-2A alone does not establish entitlement. The statutory conditions apply cumulatively, including actual payment of the tax charged to the Government, and the claimant bears the burden of establishing entitlement.

GST appeal amnesty separates the filing deadline from the prescribed pre-deposit and its payment mode. Paying the pre-deposit through the Electronic Credit Ledger does not make an otherwise timely appeal time-barred; a deficiency in the stipulated cash component should be open to rectification. Requiring further cash while retaining the entire prescribed pre-deposit already paid through credit would exceed the prescribed amount. Import IGST credit is supported by bills of entry and reconciliation with GSTR-2A; domestic-supplier payment and reporting requirements do not apply to tax paid by the importer at customs clearance. GSTR-9 Table 8A covers domestic inward supplies, while reporting import credit in the wrong GSTR-3B row affects classification rather than substantive eligibility. Section 16(2)(aa) did not apply during FY 2018-19.

Garnishee recoveries made from mining lessees towards the Mining Department's tax demand are to be returned after the demand was quashed. The Income Tax Department made the recoveries under section 226(3). Each affected petitioner must make an individual application for the return of any amount already recovered from that petitioner.