Interest paid by a district co-operative bank to a primary agricultural credit society on fixed deposits falls within the exclusion for interest paid by one co-operative society to another under section 194A(3)(v). The payment is therefore outside the tax-deduction obligation that would otherwise apply to interest under section 194A(1), and no tax is required to be deducted at source.

Pending customs refund claims before the Centralized Refund Cell are subject to a special priority disposal drive from 15 May 2021 to 31 May 2021. The drive is intended to expedite processing and disposal of pending claims, providing immediate business relief, particularly to MSMEs, as part of trade-facilitation measures. Importers, exporters, customs brokers, and trade associations are requested to assist in furnishing documents required for pending refund claims.

Place of supply for custodial services provided by banks to Foreign Portfolio Investors is governed in Delhi under the clarification issued for corresponding central GST purposes, applied mutatis mutandis in implementing the Delhi GST Act, 2017. The clarification is intended to secure uniform application of the place-of-supply position under the State GST framework.

Regulation 2 establishes the objective of a framework prohibiting market abuse in securities markets within the International Financial Services Centre. The framework is directed at safeguarding investor interests by addressing market abuse in that securities-market setting. It defines the regulatory purpose of the International Financial Services Centres Authority (Prohibition of Market Abuse in Securities Markets) Regulations, 2026, and its investor-protection function.

International Financial Services Centres Authority (Prohibition of Market Abuse in Securities Markets) Regulations, 2026 establish a regulatory framework directed at prohibiting market abuse in securities markets within the International Financial Services Centres regime. The Regulations are made under the International Financial Services Centres Authority Act, 2019, read with specified provisions of the Securities and Exchange Board of India Act, 1992, and take effect upon publication in the Official Gazette.

The deadline for Angel Funds registered on or before September 10, 2025 to implement the Accredited Investor mandate is extended to March 31, 2027. Until that date, these funds may not offer investment opportunities to more than 200 non-Accredited Investors. From March 31, 2027, they may not accept contributions from non-Accredited Investors for investment in an investee company. Existing investors may continue to hold investments already made under the applicable private placement memorandum or fund documents.

IEC holders whose export-promotion bank accounts remain unvalidated must update their current IFSC code and/or bank-account number through ICEGATE's Export Promotion Bank Account Management facility. The facility permits location-wise addition or modification of accounts for IGST refund and Authorised Dealer Code registration for Drawback claims. Users must select the relevant bank, provide a matching IFSC code or AD code, upload bank-account proof through e-SANCHIT, enter the IRN and uploading ICEGATE ID, and complete OTP verification. Accounts already used by another IEC user cannot be used for an add or modify request.

Interest paid by a co-operative bank on time deposits to a co-operative society remains exempt from tax deduction at source under the co-operative society exemption in section 194A(3)(v). Although the post-2015 amendment excludes co-operative banks from the general member-interest exemption, the continuing exemption for payments by one co-operative society to another applies where the depositor is a co-operative society, including for time deposits. As no tax is deductible on such payments, TDS-default consequences under sections 201(1) and 201(1A) do not arise, and the related interest expenditure cannot be disallowed under section 40(a)(ia).

Special GST procedure for manufacturers of specified commodities under Central Tax Notification No. 04/2024 is applied mutatis mutandis under the Delhi Goods and Services Tax Act, 2017. The central clarification on issues concerning that procedure is adopted with necessary adaptation to the State GST framework to secure uniform implementation. Implementation difficulties may be brought before the Commissioner of State Tax, Delhi.

Electronic amendment of Bill of Lading details in prior or advance Bills of Entry permits importers and customs brokers to correct incorrectly declared master or house Bill of Lading/Air Waybill numbers through the Customs EDI system. Using amendment code A_PBEIGM, corrected details are auto-approved and the Bill of Entry is auto-regularised where they match the Import General Manifest. The mechanism is limited to Bill of Lading-number corrections; amendments to container details and other particulars require officer approval.

Ineligible IGST input tax credit must be correctly disclosed and reversed in Table 4 of FORM GSTR-3B. Permanent reversals, including blocked credit, credit attributable to exempt or non-business supplies, and credit unavailable because of time-limit or place-of-supply restrictions, are reported in Table 4(B)(1) or Table 4(D)(2) and are appropriated during IGST settlement. Temporary reversals capable of later reclaim are reported in Table 4(B)(2), with reclaim disclosed in Table 4(A) and Table 4(D)(1). Proper Officers must verify GSTR-3B against GSTR-2B and monitor compliance.

Relaxations under the Gas Cylinders Rules, 2016 permit expedited approval and customs clearance of imported medical oxygen cylinders and pressure vessels. Physical inspection of a foreign manufacturer's production facility is exempted, and online approval is based on manufacturer details, ISO certification, specifications, drawings, batch numbers, hydro-test certification, and third-party inspection certification. Urgent imports may proceed where an online application is pending or has not been made, subject to the consignee complying with relaxed conditions before oxygen filling. Customs clearance may be granted without PESO approval.

Rupee depreciation in the interbank foreign-exchange market reflected elevated Brent crude prices, Middle East geopolitical tensions and weaker investor confidence. RBI dollar sales and foreign-currency inflows under special schemes supported range-bound currency trading despite external pressures. A softer dollar index, foreign institutional equity purchases, inflation data and the Federal Open Market Committee meeting were identified as relevant indicators for currency-market direction.

Document Identification Number (DIN) generation and quotation requirements for communications issued to taxpayers and other concerned persons are applied, with necessary adaptations, under the Delhi Goods and Services Tax framework. The measure adopts corresponding central indirect-tax guidance to promote uniformity in official tax communications and is clarificatory in nature.

Implementation of the Performance Linked Incentive Scheme for Public Sector Bank executives is kept in abeyance for FY 2025-26 following employee concerns about its structure. The scheme will be considered during ongoing Bipartite Settlement and Joint Note discussions. Employee representatives also raised issues concerning ex-gratia benefits and medical facilities for retired employees. The concerns are to be addressed through dialogue, consultation and mutual understanding.

China's customs trade indicators for August record export growth of 25% year-on-year, accelerating from July's 23.9% rate, supported by demand for automobiles and high-technology goods. Imports rose 28.2% year-on-year, up from July's 27.5% growth. Higher import and export values produced a trade surplus of $119.1 billion, widening from $112.5 billion in July.

Section 74 requires proof not only that input tax credit was inadmissible, but also that it was availed or utilised through fraud, wilful misstatement, or deliberate suppression with intent to evade tax. Disclosure in statutory returns or reconciliation statements, audit detection, and failure to answer an audit report do not automatically establish suppression. Fraud-related allegations and supporting evidence must appear in the show cause notice; appellate proceedings cannot introduce new grounds or cure a defective notice. Where fraud is not established, underlying tax liability may still be determined under the ordinary-demand framework, subject to limitation, natural justice and substantive credit conditions.

Where a first appellate order substantially reduces a GST demand and the department does not challenge that reduction, the pre-deposit attributable to the extinguished demand may exceed the amount required for the pending second appeal. The excess amount may be claimed as a consequential refund, with applicable interest, without awaiting final disposal before the GST Appellate Tribunal. The first appellate order is binding on the tax authority to the extent of the demand set aside, and continued retention of the excess pre-deposit lacks authority of law.

Presumptive taxation under Section 44AD and the enhanced turnover limit linked to Section 44AB depend on cash receipts and cash payments each remaining within 5% of total receipts and payments. If either exceeds that threshold, the normal audit threshold applies. The audit trigger is based on business turnover rather than the profit percentage declared, while separate commission income does not alter the relevant turnover. Taxpayers should calculate cash percentages, monitor turnover, adopt digital payments where feasible, and arrange an audit when required.

Section 74 requires specific evidence that wrongful ITC arose from fraud, wilful misstatement, or suppression of facts with intent to evade tax. Mere inadmissibility of ITC, an incorrect claim, or failure to respond during audit does not by itself establish culpable suppression. The show cause notice must disclose the factual foundation and supporting material for the alleged conduct. Information already reflected in GST returns, reconciliation statements, financial records, or portal disclosures cannot readily be treated as suppressed. A new factual basis for invoking Section 74 cannot be introduced at the appellate stage when it was absent from the original notice.