Bond and Bank Guarantee permit vehicle clearance under Carnet-de-Passage in lieu of IGST subject to prescribed conditions.
Vehicles imported under Carnet-de-Passage may be cleared on the basis of a Bond and Bank Guarantee in lieu of IGST, provided the importer satisfies the conditions prescribed in the applicable customs notification; this clarification is an addendum to Trade Facility No. 08/2018 and is directed to stakeholders for implementation.

Minimum Liquid Net-worth alignment for commodity clearing members removes base capital requirement and mandates collateral replacement.
SEBI requires clearing members in the commodity derivatives segment to maintain a minimum Liquid Net-worth aligned with equity and currency derivatives and removes the Base Minimum Capital requirement; Liquid Net-worth equals liquid assets after deduction of applicable margins. Commodity exchanges and their members must, within three months, replace member-deposited FDRs with eligible collateral and implement SEBI's margin provisions for intra-day crystallised losses, and must notify members and publish these provisions.

Advance submission for FSSAI NOC permits scrutiny before IGM details, enabling faster NOC issuance by importers and brokers.
Advance submission of documents for obtaining a NOC via the Foods Import Clearance System is operational: applicants may file advance bills of entry and route applications to FSSAI for scrutiny without furnishing berthing or IGM details at initial stages. Required documents (COO, end-use declarations, supplier certificates, label and ingredient lists, FSSAI import licence) must be provided; inspection/analysis charges paid; sampling arranged at the CFS; and laboratory analysis passed. IGM details are required only to generate the final NOC certificate.

Due diligence under FATCA/CRS requires RFIs to obtain valid self certifications and report identified reportable accounts annually.
RFIs and DDPs/Custodians must collect, validate and retain FATCA/CRS self certifications and documentary evidence at account opening, develop systems to capture and audit FATCA/CRS information, furnish identified reportable accounts in the prescribed return, and certify annual compliance to SEBI as part of the internal controls audit report.

Zero rating for exports: exporters can seek refunds despite delayed LUT filing and invoice mismatches under prescribed corrections.
Clarification on export related refund processing: exporters availing basic customs drawback remain eligible for refund of unutilized input tax credit across taxes; Table 9 of FORM GSTR 1 may rectify invoice/shipping bill mismatches. Delayed LUT filings may be condoned where exports are established; exporters need not be required to pay integrated tax solely because statutory export periods lapsed if goods/services were actually exported. Only one deficiency memo may be issued per refund application and transitional credits under prior laws are excluded from Net ITC for refund calculations.

MEIS benefit for Bengal-gram approved for limited export period under Foreign Trade Policy notification for MEIS processing.
The Director General of Foreign Trade notifies that Bengal-gram under the stated HS classification is eligible for MEIS for exports made from the date of the notice to the specified end date; the entry is placed in the Annexure to the earlier public notice to enable processing of MEIS applications and the applicable MEIS rate is specified, with subsequent corrigenda correcting the HS entry and product description.

Mandatory e-document submission: bills of entry barred unless supporting documents uploaded via e SANCHIT and accompanied by IRN.
Mandatory implementation of the e-SANCHIT electronic document-upload system is directed to commence on the stated implementation date; the Customs EDI will refuse acceptance of a bill of entry unless filed with IRN numbers confirming that required supporting documents were first uploaded through e-SANCHIT, and stakeholders are asked to report implementation difficulties to the Commissioner's office.

Maintenance of books of accounts: warehouses must be declared but records may be kept at principal place with written intimation.
Principals and auctioneers in tea, coffee, rubber etc. must declare warehouses as additional places of business and ordinarily maintain books at each such place; however, if difficulties arise they may keep records for additional places at their principal place of business after giving written intimation to the jurisdictional proper officer. They may claim input tax credit subject to other statutory conditions. The clarification applies where the auctioneer claims ITC on supplies received from the principal before auction and goods are supplied only by auction.

Exports related refunds: clarifies eligibility, documentation, LUT condonation, deficiency memos, valuation rules and filing periods for refund claims.
Clarifies export related refund rules: drawback limited to basic customs duty does not bar refund of unutilized input tax credit; Table 9 of FORM GSTR-1 and GSTR-3B rectification procedures must be considered in refund processing; LUT may be condoned ex post facto where exports occurred; only one deficiency memo per refund application is permitted and a fresh FORM GST RFD-01A must follow rectification; transitional credits under pre-GST laws are excluded from 'Net ITC'; where invoice and shipping bill values differ, the lower value is to be sanctioned.

Export refunds procedures clarified: LUT delays may be condoned, documentation and valuation rules specified for processing refund claims.
Clarification on export-related refunds: drawback of basic customs duty does not bar refund of unutilised input tax credit; drawback in respect of central tax bars refund of central tax credit but not State/UT or integrated tax. Table 9 in FORM GSTR-1 may be used to rectify prior-period invoice/shipping bill details and must be considered when processing zero-rated refunds. Net ITC excludes transitional credit. Exports made prior to filing an LUT may be condoned ex post facto; only one deficiency memo is permissible per refund application and refunds under existing laws must follow pre-GST procedures.

Spread margin benefit in commodity futures limited by correlation, backtesting and mandatory expiry stage withdrawal requirements.
Exchanges may grant initial margin benefit on spread positions only if the coefficient of correlation between futures prices is at least 0.90, back testing over a minimum of 250 trading days shows post benefit initial margin covers mark to market on at least 99% of days, and each contract in the spread is among the first three expiring contracts; maximum initial margin benefit is capped at 50% and no ELM benefit is permitted (ELM charged on both legs), with mandatory monitoring and withdrawal by tender period or expiry day.

IGST liability on Carnet-de-Passage vehicle imports remains payable, with refund possible under Section 74 subject to procedure.
The customs exemption notification for duty-free import of vehicles under Carnet-de-Passage was not amended to incorporate integrated tax; consequently, importers remain liable to pay IGST on such vehicle imports. IGST paid may be claimed back under the refund/drawback mechanism of Section 74 of the Customs Act, 1962, subject to compliance with the prescribed procedure and Circular No. 21/2017-Cus. The matter has been referred to the Board and the current procedure continues pending clarification.

Settlement Commission window allows assessees with pending show cause notices to seek expeditious dispute settlement under specified statutes.
Assessees served with show cause notices pending adjudication may opt to approach the Settlement Commission for early settlement under the Central Excise Act and the Customs Act, with the Central Excise settlement mechanism applying to service tax matters as provided by the Finance Act, subject to fulfillment of the statutory eligibility and procedural conditions.

IGST refund processing requires timely electronic EGM filing and prompt rectification of EGM errors to enable export refunds.
Refund of IGST on exports requires electronic filing and integration of Export General Manifests (EGMs) with Shipping Bills and valid GST returns; absence or mismatch of EGMs prevents automated sanction of refunds. Shipping Lines/Agents must include ICD-originating Shipping Bills in gateway electronic EGMs or file supplementary EGMs. Jurisdictional officers at gateway ports shall monitor EGM pendency and error reports in ICES, require amendments and approve them, and coordinate with ICD officers to rectify errors in local EGMs or Shipping Bills to enable refund processing.

Trade facilitation obligations require timely replies and prompt presentation of sealed samples to expedite customs assessment procedures.
The notice requires importers and Customs Brokers to provide complete and precise item descriptions, promptly answer Appraising Group queries, and present Representative Sealed Samples (RSS) without undue delay so that customs assessment and verification of self-assessment at ICD Tughlakabad can be completed faster, with difficulties to be reported to the Additional Commissioner (Technical).

EGM errors delaying IGST refunds - exporters must approach JNCH EGM Coordination Cell with shipping documents for verification.
Affected exporters/agents whose IGST refunds remain pending due to EGM errors code SB006 for No. of Container Mismatch and Container No. Mismatch must approach the JNCH EGM Coordination Cell with copies of bill of lading, invoice, packing list and shipping bill; on verification the Cell will amend system records and the shipping lines will thereafter file supplementary EGMs to enable successful integration and IGST refund processing.

Exports-related refunds: clarifies eligibility, documentation, LUT and timelines for claiming unutilized input tax credit and discrepancies.
Clarifies export related refund eligibility, noting that drawback only on basic customs duty does not bar refund of GST credits; refunds must consider amendments in Table 9 of GSTR 1 and rectifications in GSTR 3B; late LUT filing may be condoned where exports occurred; exporters need not be forced to pay IGST if goods are actually exported beyond statutory periods and Commissioners may grant post facto extensions; BRC/FIRC is not required for goods refunds; only one deficiency memo per application is permitted; transitional VAT credit is excluded from 'Net ITC'; and lower of GST invoice or shipping bill value should be sanctioned for refund.

Zero-rated exports: refund eligibility, LUT allowances and documentary reconciliation principles clarified for exporters.
Clarifies eligibility and procedures for export-related refunds under the WBGST framework: drawback limited to basic customs duty does not preclude refund of unutilized ITC of central, State/UT, integrated tax or cess; retrospective acceptance of LUT and post-facto extensions for export periods may be allowed where exports occurred. Discrepancies between return tables and shipping bills should be rectified via Table 9 of GSTR-1 or CBEC guidance, with the lower of invoice or shipping bill value used for refund. Transitional VAT credit is excluded from Net ITC for refund calculations. A single deficiency memo rule, specified documentary lists, and processing instructions for refunds under existing laws are prescribed.

Centralized registration for UIN entities enables centralized GST refund processing upon filing FORM GSTR-11 and FORM RFD-10.
UIN entities may be granted centralized registration and remain a special non-registered-person class for refund purposes; if they make taxable supplies they must obtain GSTIN. Refund procedure requires filing FORM GSTR-11 for periods where refunds are claimed and quarterly FORM RFD-10 with inward invoice statements. Field officers must verify certificates required by the refund notification. All refunds for UIN entities are processed and sanctioned by Central Tax offices regardless of State or tax type, with claims submitted to jurisdictional Commissionerates or designated nodal officers; merged historical UIN invoices may be included in claims under the single UIN.

Settlement Commission window: option for assessees with pending show cause notices to seek early dispute resolution.
Assessees served with show cause notices and with matters pending at various stages of adjudication may opt to approach the Settlement Commission for early settlement, subject to eligibility and procedural conditions prescribed under Chapter V of the Central Excise Act, Chapter XIVA of the Customs Act, and the application of Chapter V of the Central Excise Act to service tax matters; trade bodies and stakeholders in the Bhopal Zone are requested to disseminate this information to their members.