Assessment orders: ensure filed FORM 9 is considered; re examine multiple assessments using DVAT reassessment powers and procedural safeguards.
Where FORM 9 was not considered or only partly considered for 2014-15 and multiple assessments exist, Assessing Authorities must re examine such cases using available reassessment powers under the DVAT framework or other legal provisions, observing procedural safeguards in the governing rule-including the sub provision on consideration of requests-and may call for necessary documents from the dealer; the circular also references prior guidance on multiple assessments and highlights administrative requirements for registration cancellation and stock valuation on cessation.

Transfer of input tax credit allowed to transferee when a sole proprietor's business continues after death; file ITC 02 before cancellation.
Death of a sole proprietor is treated as transfer of business permitting transfer of unutilized input tax credit to the transferee who continues the business. The transferee must register citing death of the proprietor, file FORM GST ITC-02 for the registration to be cancelled, and submit ITC-02 before filing the cancellation application; accepted credits will be credited to the transferee's electronic credit ledger. Transferor and transferee are jointly and severally liable for tax, interest, or penalties due from the transferor, and the person continuing the business after death is liable for amounts due from the deceased.

Registration verification: fresh GST applications may be rejected if prior cancelled registrations and unresolved violations persist.
Proper officers must scrutinise fresh GST registration applications where an earlier registration on the same PAN was cancelled for noncompliance under section 29(2)(b) and (c); failure to apply for revocation and continuance of disqualifying conditions is a deficiency under rule 9 permitting rejection. Officers must compare present application fields in FORM GST REG 01 with portal records of earlier registrations, verify details of proprietors/partners/directors against cancelled registrations to detect suppression, and require satisfactory justification before admitting a new registration.

Refund of input tax credit: portal workaround permits "any other" filing and officer-verified debit for admissible refunds.
A one-time procedural remedy allows taxpayers who reversed lapsed ITC in returns but face portal validation limits to claim refunds of accumulated ITC under the "any other" category in FORM GST RFD-01A for the same period, submitting required documents; the proper officer will calculate admissible refund under Rule 89(5), request debit from the electronic credit ledger via FORM GST DRC-03, and upon proof of debit issue refund order and payment advice. Subsequent period claims use the standard refund category. Late reversals may attract interest and refunds are payable after reversal and interest payment. Exports involving supplier benefit notifications are claimable under Rule 89(4B) using the same procedure. Corrected applications after deficiency memos may be re-submitted under the original ARN for processing.

DPD facilitation: online permission, out of charge modules and cross terminal DPD codes streamline import clearance processes.
The DPD / RMS Facilitation Centre at JNCH has implemented operational and digital measures to speed import clearance for DPD and AEO clients, including one time default intimation to shipping lines, unique DPD codes valid across terminals, on wheel sampling, part delivery for scanned shipments, dispensation of certain document submissions via e sanchit, and online modules for DPD permission, out of charge processing and scanning status viewing; priority assessment/examination and suo moto electronic OOC endorsements further streamline clearance.

Tax Collected at Source exclusion: TCS is not includible in GST taxable value, treated as an interim levy.
The corrigendum states that Tax Collected at Source (TCS) under the Income Tax Act is an interim levy on potential income and not a tax on goods, and therefore TCS shall not be includible in the taxable value for GST determination; stakeholders may report implementation difficulties to the issuing authority and a similar corrigendum has been issued by the central GST policy wing.

Inter state supply: IGST applies to Priority Sector Lending Certificate trading, with exceptions for prior CGST/SGST payments.
The supply of PSLCs between banks is treated as a supply of goods in the course of inter State trade or commerce, and IGST is payable on PSLC traded over the RBI e Kuber portal for the periods considered. Banks that have already paid CGST/SGST on such supplies shall not be required to pay IGST for amounts already discharged; implementation difficulties may be reported to the department.

Transfer of input tax credit on death of sole proprietor requires prescribed filings for transferee to claim unutilized credit.
Transfer of unutilized input tax credit is permitted when a sole proprietor's business is continued by a transferee or successor after the proprietor's death. The transferee must register by filing FORM GST REG-01 with reason "death of the proprietor," and the legal heirs may file FORM GST REG-16 to cancel the transferor's registration linking the GSTINs. The transferee must file FORM GST ITC-02 for the registration being cancelled before applying for cancellation; upon acceptance the unutilized credit is credited to the transferee's electronic credit ledger. The transferee and transferor are jointly and severally liable for any tax, interest or penalty due.

Registration verification: fresh GST applications may be rejected where cancelled registration remains unrevoked and disqualifying conditions persist.
Proper officers must exercise caution when processing fresh registration applications filed on the same PAN where an earlier registration exists or was cancelled; failure to apply for revocation while disqualifying conditions continue shall be treated as a deficiency. Officers should scrutinise FORM GST REG 01 entries, compare applicant details with cancelled registrations via the common portal, and, if unsatisfied with explanations or documents, consider rejection of the fresh registration on the ground of deficiency.

Refund of accumulated ITC: procedural remedy allows one time "any other" filing and DRC-03 debit before refund order.
Procedural clarifications for refund claims of accumulated input tax credit: where portal validation prevents claiming accumulated ITC after reversal under the cited notification, taxpayers may file a one time refund application under "any other" in FORM GST RFD-01A for the same period with all requisite documents; the proper officer will calculate admissible refund under rule 89(5), require debit via FORM GST DRC-03, and then issue FORM GST RFD-06 and FORM GST RFD-05. Late reversals attract interest under section 50(1) and refunds remain subject to reversal and interest payment. Merchant exporters and cases of recredit after deficiency memos are given analogous procedural directions.

FPI investment limits revised for government securities and corporate bonds, reallocating increases and extending coupon reinvestment to state loans.
Revision increases FPI investment ceilings for FY 2019-20 across central government securities, SDLs and corporate bonds; incremental G sec allocation is split 50:50 between 'General' and 'Long term', SDL increases are allocated to SDL 'General', and the coupon reinvestment arrangement for government securities is extended to SDLs. AD Category I banks must communicate the circular to constituents; directions are issued under statutory powers without prejudice to other required permissions.

GST treatment of sales promotion schemes clarified: uniform rules on taxability, valuation and input tax credit for promotional offers.
Clarification addresses GST tax treatment of sales promotion schemes under Circular No. 92/11/2019, identifying free samples and gifts, buy one get one offers, discounts (including "buy more, save more"), and secondary discounts, and directing uniform application of rules on taxability, valuation and availability of Input Tax Credit for these schemes; field formations and trade are instructed to follow the circular's detailed guidance.

GST treatment of sales promotion schemes clarified, addressing taxability, valuation and input tax credit implications for suppliers.
The notice clarifies GST taxability, valuation and input tax credit consequences for suppliers in relation to sales promotion schemes, specifically addressing free samples and gifts, buy one get one offers, discounts including 'buy more, save more', and secondary discounts, and directs field formations and trade associations to follow the CBIC circular to ensure uniform implementation.

Business continuity and disaster recovery standards mandated for market infrastructure institutions, requiring zero data loss and rigorous DR testing.
SEBI mandates enhanced BCP and DR obligations for Market Infrastructure Institutions requiring a Disaster Recovery Site and, where applicable, a Near Site to ensure zero data loss and independent live operations. MIIs must maintain one-to-one configuration parity between PDC and DRS/NS, ensure high availability and no single point of failure, implement synchronous replication to NS and appropriate replication to DRS, meet defined Recovery Time and Recovery Point Objectives, conduct realistic and unannounced DR drills and live trading sessions, board-approve a comprehensive BCP-DR policy, and submit the revised policy to SEBI.

Trade Credit Framework clarified: permissible forms, security, hedging and mandatory monthly reporting to ensure FEMA compliance.
Master Direction consolidates RBI directives under FEMA for Trade Credits, specifying eligible forms, recognised lenders, permitted currencies and maturities, hedging expectations and all-in-cost ceilings. It details admissible security (bank/overseas guarantees, charges on movable/immovable/financial assets, corporate/personal guarantees) subject to loan security clauses, no objection certificates and compliance with FEMA/FDI/SEZ norms. AD Category I banks must assign unique IDs to TCs and submit consolidated monthly Form TC returns to RBI, ensure no double financing for SEZ transactions, verify maturity/operating cycle limits, and confirm borrowers' risk management and hedging arrangements.

Upfronting of trail commission for eligible SIPs regulated with amortisation, audit trail, TER accounting and recovery mechanisms.
The circular permits limited upfronting of trail commission for SIP inflows from first time investors identified by PAN, payable from AMC books and amortized daily to schemes with audit trails and pro rata recovery from distributors if SIPs terminate early. It defines retail inflows for additional TER applicable to B 30 penetration, mandates daily disclosure of scheme wise TER on AMC and AMFI websites in a downloadable format, exempts certain short lived schemes from some performance disclosures, requires borrowing costs to be adjusted against portfolio yield with excess borne by the AMC, extends no entry load applicability to all SIPs, and permits limited miscellaneous expenses from AMC books subject to recording and audit.

Suspension of registration frees taxpayers from routine GST compliances while cancellation proceedings are pending under amendment.
The KGST Amendment Act changes detention and registration procedures: the payment window for proposed tax and penalty on seized goods is extended to fourteen days from the detention order in FORM GST MOV-06, after which a notice proposing confiscation and penalty may be issued; FORM GST MOV-08 and FORM GST MOV-09 are revised accordingly. The amendment also provides for suspension of registration during cancellation proceedings, suspending routine compliance including return filing while preserving the obligation to file a final return.

Tax Collection at Source obligation: Tea Board must collect TCS from sellers and auctioneers on respective net values.
The Tea Board, as an electronic commerce operator running an auction platform and holding consolidated payments in an escrow account, must collect Tax at Source (TCS) under section 52 of the KGST Act: (i) from sellers (tea producers) on the net value of supply of goods (tea); and (ii) from auctioneers on the net value of supply of services (brokerage).

Agent classification determines whether interest charged by a del credere agent is included in the taxable value of goods.
Classification of a del credere agent under Para 3 of Schedule I depends on invoicing: supplier issued invoices (even via DCA) mean the DCA is not an agent; DCA issued invoices mean the DCA is an agent. If the DCA is not an agent, loans/interest by DCA are independent supplies by the DCA and interest is not includible in the supplier's goods value. If the DCA is an agent, credit extended is subsumed into the goods supply and interest must be included in taxable value under section 15(2)(d).

E-way bill requirement for goods stored in transporter's godown; declaring the godown as additional place of business ends e-way validity.
A valid e-way bill must accompany goods stored in a transporter's godown prior to delivery. If the consignee declares the transporter's godown as an additional place of business (with the transporter's concurrence), transportation is deemed concluded on arrival at that godown and e-way validity need not be extended. Subsequent movement from that godown to other recipient premises will require a new valid e-way bill. Transporters providing storage must register and maintain warehouse-keeper records; recipients must maintain prescribed accounts, which may be kept at their principal place of business.