Between August 11th and 17th, 2025, various Indian regulatory bodies issued key updates. The Income Tax Department notified tax exemptions for the Parambikulam Tiger Conservation Foundation and amended Form 7 for demand notices. The Taxation Laws Amendment Bill, 2025, was introduced, proposing tax exemptions for a portion of pension corpus and clarifying rules for “block assessment” in search cases. High Court rulings specified that TDS on Common Area Maintenance (CAM) charges falls under Section 194C (not 194I) and upheld the prosecution in a Rs. 700 crore accommodation entry case. In GST, the NIC announced the alignment of turnover data on e-invoice portals. The Supreme Court ruled that mobile telecom towers qualify as “plant and machinery,” allowing for input tax credit (ITC), and clarified that provisional attachments are not renewable after one year. The RBI introduced a new framework for AI in the financial sector, allowed foreign investment in government securities through Special Rupee Vostro Accounts, and mandated accessible KYC processes for people with disabilities. The IBBI proposed changes to insolvency professional assignments and their code of conduct.
Notifications & Circulars issued during week (11th– 17th Aug 2025)
A. Income Tax
Exemptions to Parambikulam Tiger Conservation Foundation: Parambikulam Tiger Conservation Foundation, a Trust constituted by Government of Kerala, has been notified under section 10(46) for exemption on its income arising from Fees receives for check post entry, visitor accommodation, halting, ecotourism packages, rent fees from canteens, Licence fees, Funds received from Government and NGOs, and interest on bank deposits.
(Link: Income Tax Notification 131/2025 Dated 12/08/2025)
CBDT amends Income Tax Rules Form-7 (Notice of demand under section 156 of the Income-tax Act): In Appendix-II, in Form No. 7, in paragraph 1, for the words ‘assessment year…a sum’, the words ‘assessment year….. or the block period……’, has been substituted.
(Link: Income Tax Notification 132/2025 Dated 14/08/2025)
Taxation Laws Amendment Bill, 2025 introduced in Lok Sabha: The bill proposes several changes to the Income Tax Act and the Finance Act, 2025. It introduces tax exemptions for subscribers of the Unified Pension Scheme, up to 60% of an individual’s corpus from the National Pension System Trust will be tax-exempt upon superannuation or voluntary retirement. Additionally, other lump-sum payments received under the scheme will also be exempt. Another amendment relates to international tax agreements, specifically including the Public Investment Fund of the Government of Saudi Arabia and its wholly-owned subsidiaries in the list of “specified persons” eligible for certain income exemptions. It also revises the rules for “block assessment” of search cases to ensure correct application and clarifies the abatement of pending assessments.
(Link: The Taxation Law Amendment Bill 105/2025 Dated 8/2025)
HC, TDS on CAM charges fall under section 194C not 194I: Case of CIT vs Diamond Tree, HC Delhi Judgement Dated 6th August 2025. Common Area Maintenance (CAM) payment shall be liable to deduct TDS under Section 194C not under Section 194I. The CAM charges are essentially maintenance charges paid by a unit for proper maintenance of the common area. The said charges are contributed towards expenditure on cleanliness, utilities and maintenance. These charges are shared expenses for common works and utilities. The said charges cannot, by any stretch, be construed as payment of rent for occupying the premises in question.
HC, Prosecution in ₹700 Cr Accommodation Entry Case upheld: Case of Raj Kumar Kedia vs ITO, HC Delhi Judgement Dated 23rd July 2025. The accused modus operandi involved manipulating share prices of listed companies through dummy entities, routing unaccounted cash, and charging a commission for these services. The Income Tax Department estimated that he dealt with over Rs. 700 crores in unaccounted transactions, earning undisclosed commission income of approximately Rs. 14 crores. The court upheld prosecution for accommodation entry racket to proceed. The prosecution for tax offences can proceed independent of completion of assessment.
B. GST
GST NIC Advisory, Updated Aggregate Annual Turnover (AATO) on NIC-IRP Portal: It is informed that Aggregate Annual Turnover (AATO) information maintained on NIC e-Invoice Portals (einvoicel.gst.gov.in and einvoice2.gst.gov.in) is being aligned with the turnover data computed in GST system. Accordingly, AATO as per GST system records would be reflected on the NIC e -Invoice portals with effect from 1st September 2025. In case of any discrepancies in your AATO as displayed on the IRP portal after the said date, you may raise the matter with GST Grievance Redressal Portal or GST Helpdesk.
(Link: NIC Advisory Dated 11/08/2025)
AAR, GST Advance Ruling cannot decide classification of Imports: Case of Sundaram Industries Private Limited, AAR Tamil Nadu Dated 4th August 2025. The company, which manufactures defence equipment, sought to clarify the classification for goods it imports. The AAR determined that its jurisdiction is limited to providing rulings on the classification of outward supplies, i.e. goods or services sold by the applicant, as per Section 95(a) of CGST.
AAR, Classification of various models of ACER Interactive flat Panels with additional features: Case of Acer India Private Limited, AAR Tamil Nadu Ruling Dated 12th August 2025. The applicant in the course of its business, undertakes supply of various models of ‘Acer’ Interactive Flat Panels within India either after importing them as finished goods or getting them manufactured on contract basis through third parties. AAR ruled that various models of ACER Interactive flat Panels with additional features are still classifiable under 85285900 (Monitors and Projectors, not incorporating television reception apparatus). The applicable rate of GST is 28%.
(Link: AAR Tamil Nadu Ruling Dated 12/08/2025)
SC, Mobile telecom towers to be ‘plant and machinery’, thereby allowing input tax credit (ITC) under GST: Case of Commissioner CGST vs Bharti Airtel, SC Judgement Dated 08th August 2025. The crux of the dispute was whether telecom towers, often affixed to land or rooftops, qualify as immovable property, which is blocked from ITC under Section 17(5) of the CGST Act, 2017, or as plant and machinery, which is specifically excluded from the definition of blocked credit. The Delhi HC had earlier ruled in favour of Bharti Airtel and other petitioners, holding that telecom towers fall within the scope of plant and machinery and are eligible for ITC. The apex court upheld decision of HC.
SC, GST Parallel proceedings, summons not trigger section 6(2)(b) bar: Case of Armour security (India) Ltd vs Commissioner, SC Judgement Dated 14th August 2025. The apex court has provided crucial clarity on the interpretation of Section 6(2) (b) of the CGST Act. It addresses the persistent ambiguity surrounding the “initiation of proceedings” and “same subject matter” in the context of parallel investigations and/ or proceedings by the Central and State tax authorities. The Court held that summons issued under Section 70 will not amount to “initiation of proceedings” within the meaning of Section 6(2)(b) of the CGST Act.
SC, CGST Provisional attachment not renewable after one year: Case of Kesari Nandan Mobile vs AC State Tax, SC Judgement Dated 14th August 2025. Section 83(1) of the CGST Act authorizes the Commissioner to attach property provisionally if it is deemed necessary to protect the revenue, but section 83(2) explicitly states that such provisional attachment shall cease to have effect after the expiry of one year from the date of the order. The apex court held that the revenue did not have legal authority to re-issue or renew provisional attachment orders after the initial order had lapsed by operation of law. Consequently, the attached bank accounts must be de-freezed, and the appellant should be permitted to operate them.
HC, Allows adjustment of GST Cash Ledger deposits towards tax liability in liquidation: Case of Satyadevi Alamuri vs AC of GST and CE, HC Madras Judgement Dated 28th July 2025. The Court observed that there was no dispute that the petitioner had deposited the amounts contemporaneously with tax liability for the disputed period. The inability to debit the ledger and file returns was due to procedural/technical restrictions, not deliberate default. Under Section 49 of CGST Act, cash ledger deposits are akin to Govt receipts from the moment of deposit. The Court directed department to appropriate amounts already deposited in Electronic Cash Ledger towards petitioner’s tax dues.
HC, Interest on delayed refunds under Section 56 is automatic and statutory: Case of Xilinx India technology Services vs AC State Tax, HC Delhi Judgement Dated 28th July 2025. The Court held that Section 56 of the CGST Act clearly mandates payment of interest on delayed refunds if refunds are not granted within 60 days of the date of receipt of the refund application. The interest under Section 56 is automatic and statutory, it does not depend upon the taxpayer’s explicit claim for interest in the refund application. The Court directed the respondents to calculate and pay interest at the statutory rate of 6% per annum from the day immediately after expiry of the 60-day period from the refund application date until the date the refund amount was credited to the petitioner’s bank account.
(Link: HC Delhi Judgement Dated 28/07/2025)
C. Central Excise
No Notifications/ Circular during the week.
D. Custom Duty
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver: CBDT notified the Tariff Values of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver, which shall come into force w.e.f. 15th August 2025. The tariff value for crude palm oil is set at USD 1030 per metric ton, while gold and silver have tariff values of USD 1083 per 10 grams and USD 1246 per kilogram, respectively. The tariff value for areca nuts is fixed at USD 7463 per metric ton.
(Link:Custom Notification 50/2025 (NT) Dated 14/08/2025)
Guidelines regarding export of items suspected to be covered under SCOMET: Due to the technical nature of Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) items, exporters and field formations often face difficulties in determining their classification. The guidelines clarifies that the DGFT has an Inter-Ministerial Working Group (IMWG) responsible for making the final determination on SCOMET classifications. To streamline the process, the CBIC has created an online repository of SCOMET clarifications and instructs customs officers to refer to it first. If a classification remains ambiguous, the matter should be referred to the Customs-III section in the Customs Policy Wing.
(Link: Custom Instructions 26/2025 Dated 14/08/2025)
E. Directorate General of Foreign Trade (DGFT)
Port restriction on import of certain goods from Bangladesh to India: Under this new provisions, the import of certain jute-related products, including bleached and unbleached woven fabrics, twine, cordage, ropes, and sacks, will no longer be permitted through any land port on the India-Bangladesh border. Instead, these goods can only be imported through the Nhava Sheva Seaport.
(Link: DGFT Notification 24/2025 Dated 11/08/2025)
F. Securities and Exchange Board of India (SEBI)
Amendment to SEBI Foreign Portfolio Investors Regulations: The amendments introduce exemptions for a specific category of FPIs. Those FPIs that invest exclusively in Government Securities will be exempt from certain compliance requirements under Regulation 4 and Regulation 22 of the original regulations, thus encouraging more foreign capital flow into India’s government debt market.
(Link: SEBI Notification Dated 11/08/2025)
Use of Liquid MFs and Overnight MFs for compliance with deposit requirement by IAs and RAs: The circular allows registered Investment Advisers (IAs) and Research Analysts (RAs) to use units of liquid mutual funds and overnight mutual funds to meet their deposit requirements. The deposits must be marked with a lien in favour of the respective supervisory bodies, the IAASB or RAASB.
(Link: SEBI Circular Dated 12/08/2025)
Master Circular for Debenture Trustees: It consolidates all existing circulars regarding regulation of Debenture Trustees into a single document. It supersedes previous individual circulars, but any actions taken under those rescinded circulars remain valid. It outlines the procedures for online registration and payment, including digital payment methods. It details the process for obtaining prior approval for a change in control, clarifying that certain transfers of shares among immediate relatives or through transmission will not be considered a change in control. It also clarifies the process for the transfer of business between legal entities and the voluntary surrender of a certificate of registration.
(Link:SEBI Master Circular Dated 13/08/2025)
Consultation Paper, New Fee Structure for RTAs: The addendum to its consultation paper dated 7th August 2025, on the regulatory framework for Registrars to an Issue and Share Transfer Agents (RTAs) proposes revision to the fee structure for RTAs, a topic not included in the original consultation paper. it eliminates the existing categorization of RTAs and implement a uniform fee structure based on the current rates for Category-I RTAs. For Category-II RTAs, SEBI offers two options until their current fee block expires, i.e. they can continue their limited activities under their existing fee payment or they can choose to upgrade to perform full RTA activities by paying the fee difference on a pro-rata basis and meeting all other requirements. The comments/ feedback from stakeholders are invited.
(Link: SEBI Consultation Paper Dated 11/08/2025)
Consultation Paper, Draft circular for smooth transmission of securities from Nominee to Legal Heir: It addresses a current issue where the transfer of securities to a legal heir, after a nominee has received them, may be incorrectly treated as a taxable event for the nominee, despite the Income Tax Act not considering it a ‘transfer’. The nominee’s role is that of a trustee, holding the assets for the legal heirs. It proposes introducing a new, standardized reason code, ‘TLH’ (Transmission to Legal Heirs), for use by reporting entities. This code will be used when reporting these transactions to CBDT, ensuring the correct application of income tax laws and preventing the nominee from being inappropriately taxed on capital gains. The comments/ feedback from stakeholders are invited.
(Link: SEBI Consultation Paper Dated 12/08/2025)
Consultation paper on Review of SEBI Stock Brokers Regulations: It proposes to formally define ‘Algorithmic Trading’ as any order generated using automated execution logic. A definition for ‘Execution Only Platform’ (EOP) is added to clarify the role of digital platforms that facilitate mutual fund transactions. The term ‘Proprietary Trading’ is being defined to differentiate a broker’s own trading from client trades, and the definition of a ‘Proprietary Trading Member’ will be expanded beyond the debt segment. It also introduces significant amendments to enhance broker governance, compliance, and investor protection. The companies operating as stock brokers will be required to have at least one designated director who resides in India for a minimum of 182 days per financial year. The brokers must now notify SEBI of any material changes in their registration information, a requirement currently only in place for changes in control. It proposes to enhance its oversight by enabling joint inspections of stock brokers by SEBI, stock exchanges, and depositories, which is intended to increase efficiency and avoid multiple inspections. The comments/ feedback from stakeholders are invited.
(Link: SEBI Consultation Paper Dated 13/08/2025)
G. Ministry of Corporate Affairs (MCA)
No Notifications/ Circular during the week.
H. Insolvency and Bankruptcy Board of India (IBBI)
Amendment to IBBI Continuing Professional Education (CPE) for Insolvency Professionals Guidelines: The key changes include an increase in the mandatory CPE credit hours to 30 per calendar year, a requirement that does not apply in the year an IP is registered. A new provision mandates that a minimum percentage of these credits must be earned through in-person learning programs, starting at 40% in 2026 and increasing to 60% by 2028. The amendments also introduce new ways to earn credit hours, such as publishing articles or books and passing professional examinations.
(Link: IBBI Notification Dated 13/08/2025)
Insolvency and Bankruptcy Code (IBC) Amendment Bill 2025 introduced in Lok Sabha: The key amendments include Creditor initiated ad out of the court resolution, Group insolvency, Cross border insolvency, Clarifications of certain definitions, Procedural changes in initiation process, Asset sale flexibility, Changes in section 9 and 10 applications, Withdrawal of applications, Moratorium clarifications, Appointment and duties of professionals, CoC powers, Continuity of professional appointments, Avoidance and wrongful trading activities, Transfer of guarantor assets, Pre-packaged insolvency adjustments, Omission of fast-track process and others.
(Link: The Insolvency and Bankruptcy Code Amendment Bill 107/2025 Dated 8/2025)
Discussion paper on Review of Limit on Number of Assignments being handled by Insolvency Professionals (IPs): While the current rules cap the number of assignments for a Resolution Professional (RP) at ten, this limit doesn’t apply to other roles such as Interim Resolution Professional (IRP) or Liquidator. This has led to an uneven distribution of work, with some IPs handling up to 25 assignments simultaneously, and this concentration impacts the quality and efficiency of the resolution process. The paper proposes to expand the ten assignment limit to include all roles, i.e. IRP, RP, and Liquidator. It specifies that of these ten assignments, no more than three can involve claims exceeding one thousand crore rupees. The comments/ feedback from stakeholders are invited.
(Link: IBBI Discussion Paper Dated 12/08/2025)
Discussion paper on deletion of Clause 6 from the Code of Conduct for Insolvency Professionals: Clause 6 currently prohibits IPs and their relatives from acquiring assets of a debtor during liquidation or bankruptcy proceedings. IBBI argues that this clause is redundant because the same prohibition is already detailed in the IBBI Regulations. It aims to streamline the regulatory framework, reduce duplication, and simplify the Code of Conduct for IPs. The comments/ feedback from stakeholders are invited.
(Link:IBBI Discussion Paper Dated 12/08/2025)
SC, Commercial wisdom of CoC must be given primacy during CIRP: Case of Sincere Securities Private Limited vs Chadrakant Khemka, SC Judgement Dated 5th August 2025. The apex court held that the commercial wisdom of the CoC must, accordingly, be given primacy during the CIRP. Once CoC decides that retention of the possession of the subject property was not in the interest of the CIRP, that decision must be given the respect that is lawfully due to it.
SC, Acknowledgment of debt saves section 95 IBC plea, from limitation bar: Case of Vipin Shersingh Agarwal vs State Bank of India, SC Judgement Dated 8th July 2025. The apex court agreed with the NCLAT’s finding that acknowledgment of debt in the corporate debtor’s balance sheets, coupled with a clause in the guarantee deed linking such acknowledgments to the guarantor, extended the limitation under Section 18 of the Limitation Act. Thus, the court dismissed the appeal challenging an application filed under Section 95 of IBC.
NCLAT, Allowability of extended time to Liquidator beyond 90 days was justifiable due to external circumstances: Case of Sushil Jejani vs Pasad Dharap, NCLAT Delhi Judgement, Dated 18th July 2025. Since there were compelling circumstances which constrained the Liquidator from securing the sale consideration of the auction land within 90 days such as special circumstances arising out of the conversion imbroglio, restraint orders of the Hon’ble Bombay High Court and IAs pending before the Adjudicating Authority. Thus, there was no infirmity in the order of the Adjudicating Authority in allowing further time to the SAP to make balance payment.
NCLAT, Moratorium does not apply to any payment by co-applicant, direction of reversal of amount not sustained: Case of ICICI Bank Ltd vs Chanchal Dua, NCLAT Delhi Judgement Dated 16th July 2025. The appellant tribunal held that amount having not been received from the corporate debtor, there was no applicability of Section 14 of the IBC and moratorium was not applicable with regard to any payment by co-applicant. Thus, direction of adjudicating authority for reversal of amount is not sustainable.
NCLAT, No authorized correspondence stated settlement of cost incurred against license fee payable to Corporate Debtor: Case of Wakai Hospitality Private Limited vs Palak Desai, NCLAT Delhi Judgement Dated 28th May 2025. The appellant tribunal held that no authorized correspondence brought on record which states that there was agreement between appellant and corporate debtor to cost incurred by appellant would be settled against license fee payable to Corporate Debtor. Thus, argument of appellant rejected.
I. Reserve Bank of India (RBI)
Investment in Government Securities by Persons Resident Outside India through Special Rupee Vostro account: RBI has allowed non-resident individuals and entities with Special Rupee Vostro Accounts (SRVAs) to invest their surplus funds in Central Government Securities, including Treasury Bills. This measure, effective immediately, is designed to facilitate international trade settlements in Indian Rupees.
(Link: RBI Notification 72/2025 Dated 12/08/2025)
Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System: RBI has announced a transition for the Cheque Truncation System (CTS) from its current batch processing model to a new “continuous clearing with settlement on realisation” system, to be implemented in two phases. Under the new system, there will be a single, continuous presentation session from 10:00 AM to 4:00 PM, during which banks will send scanned cheque images to the clearing house. Drawee banks will then have a continuous confirmation session from 10:00 AM to 7:00 PM to process and confirm or dishonour cheques. The new rules specify an “Item Expiry Time” for each cheque, i.e. if confirmation is not provided by the drawee bank within this time, the cheque will be considered approved. Settlement will now occur hourly, from 11:00 AM onwards, based on positive confirmations. Presenting banks are then required to release funds to customers within one hour of successful settlement.
(Link: RBI Notification 73/2025 Dated 13/08/2025)
RBI mandates Alternative KYC verification methods for Disabled Customers: RBI has issued directions to comply with the Supreme Court’s order dated April 30, 2025, in Pragya Prasun vs Union of India and Amar Jain vs Union of India. It focuses on ensuring accessibility in the digital Know Your Customer (KYC) process for persons with disabilities, particularly those with visual impairments or facial disfigurements. Customer due diligence and onboarding can be conducted using video-based customer identification processes (V-CIP) without mandatory eye-blinking requirements. Paper-based KYC must also continue as an accessible alternative for those unable to complete digital procedures.
(Link:RBI Notification 74/2025 Dated 14/08/2025)
RBI Know Your Customer (KYC) Directions ensure no rejection for Persons with Disabilities: The amendment provides that no application for onboarding or KYC up dation is rejected for persons with disabilities, mandating that reasons for rejection must be officially recorded. it also clarify that KYC verification is required for occasional international money transfers or any related transactions amounting to Rs. 50,000 or more. Furthermore, the amendments officially recognize Aadhaar Face Authentication as a valid method for customer identification. Liveness checks, which are part of the digital verification process, are also required to be non-exclusionary for individuals with special needs.
(Link: RBI Notification 75/2025 Dated 14/08/2025)
Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector: RBI has published committee report from its Committee to develop a FREE-AI in the Financial Sector. The framework is built on seven core principles, or “sutras,” which include Trust, People First, Innovation over Restraint, and Fairness. The recommendations are organized under six pillars, i.e. Infrastructure, Policy, Capacity, Governance, Protection, and Assurance. For innovation enablement, it include establishing a shared data infrastructure, creating an AI Innovation Sandbox, and developing indigenous financial sector-specific AI models. For risk mitigation, it recommends that regulated entities (REs) create board-approved AI policies, enhance cybersecurity, and ensure robust governance frameworks throughout the AI lifecycle.
(Link: RBI Committee Report, Press Release Dated 13/08/2025)
Draft FEMA Rules to simplify Cross-Border Guarantees: The new rules, i.e. Foreign Exchange Management (Guarantees) Regulations, expands the types of cross- border guarantees that can be issued under the automatic route. If the underlying transaction and any transaction resulting from the guarantee’s invocation comply with FEMA, they will be permitted without requiring specific RBI approval. It introduces a comprehensive reporting system, requiring all issued and invoked guarantees to be reported to the RBI. It also specifies conditions under which a person resident in India can act as a surety, principal debtor, or creditor. The comments/ feedback from stakeholders are invited.
(RBI Press Release Dated 14/08/2025, Draft Regulations)
J. Miscellaneous
EPFO Simplifies Aadhaar Seeding and Correction in in UAN: The Employees’ Provident Fund Organisation (EPFO) has simplified the process of seeding and correcting Aadhaar details within a member’s Universal Account Number (UAN). When a member’s name, gender, and date of birth in their UAN match their Aadhaar details, employers can directly seed the Aadhaar without needing separate approval from the EPFO. For cases with a mismatch or an incorrect Aadhaar number, employers can use a simplified Joint Declaration functionality to submit correction requests to the regional office for approval by an Assistant Provident Fund Commissioner (APFC). If an employer is unavailable or the company is closed, members can submit a physical Joint Declaration form, attested by a specified authority, to the nearest regional office.
(Link: EPFO Circular Dated 13/08/2025)
HC, Criminal proceedings under section 138 of Negotiable Instrument Act does not extinguish with extinguishment of debt under IBC: Case of Charandeep Singh Jolly vs CB Healthcare, HC HP Judgement Dated 16th July 2025. The court held that extinguishment of debt under IBC would not ipso facto apply to extinguishment of criminal proceedings under section 138 of the Negotiable Instruments Act (NI Act).
HC, Legal representative of deceased guarantor liable to make pre-deposits under section 21 of RDB Act: Case of Suman Sirivastava vs Union Bank of India, HC Delhi Judgement Dated 24th July 2025. The court held that liability of deceased guarantor to repay debt shall fall upon legal representative. Hence, petitioner being legal representative of deceased guarantor is liable to make pre- deposits as envisaged in section 21 of the Recovery and Debts and Bankruptcy Act, 1993 (RDB Act).
(Link: HC Delhi Judgement Dated 24/07/2025)
HC, Notice sent under section 21 of Arbitration & Conciliation Act by invoking arbitration agreement is valid invocation: Case of Prism Johnson Limited vs Doosan Power Systems India Pvt Ltd, HC Delhi Judgement Dated 9th July 2025. The court held that there was no requirement to resort to Clause 25(c) of General Terms and Conditions (GTC) to formally notify the Indian Council of Arbitration (ICA) for appointment of the Arbitrator and notice sent by invoking arbitration agreement under section 21 of the Arbitration and Conciliation Act, 1996 is valid invocation.
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Compiled by: CMA Yash Paul Bhola, MBA, FCMA.
Disclaimer: The contents of this article are for informational purposes only. The user may refer to the relevant notification/ circular/ decisions issued by the respective authorities for specific interpretation and compliances related to a particular subject matter)
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