Revocation deadline extension for cancelled GST registrations: filing allowed until extended date, applicable irrespective of application status.
Time to apply for revocation of cancelled registration is extended to 30 September 2021 where the original due date fell between 1 March 2020 and 31 August 2021 for registrations cancelled under the specified clauses of section 29(2). The extension applies regardless of application status: not filed, pending with the proper officer, rejected (allowing fresh filing), pending on appeal, or decided on appeal. Proper officers and appellate authorities must treat the extended timeline as applicable, and taxpayers may refile where necessary.

PMS transactions in corporate bonds must use RFQ for at least 10% of secondary market trades.
PMS must execute at least 10% by value of their monthly secondary market corporate bond trades via the stock exchanges' RFQ platform in OTO or OTM modes, with compliance measured on a rolling three month basis; trades where a PMS is on both sides must use OTO, OTM trades executed with another PMS count as OTM, and PMS may accept contract notes from brokers for RFQ transactions.

IGM seal-number amendments require responsible parties to provide satisfactory justification, with unresolved requests escalated for supervisory review.
IGM seal-number amendment applications must include a proper explanatory letter and justification from the party responsible for the seal-number change. Proper officers must scrutinise the explanation before processing the amendment. If the officer is not satisfied with the justification, the application must be referred to the Deputy Commissioner or Assistant Commissioner of the Import Noting Section for further consideration.

Coumarin testing requirement for imported cinnamon: consignments must be tested to ensure coumarin limits are met before clearance.
Imported consignments of cinnamon must be tested for coumarin content on a dry-weight basis, with the coumarin content not exceeding 0.3 percent by weight; testing is to follow the manual of methods of analysis for spices, herbs and condiments, and Authorized Officers are directed to ensure all consignments are tested and to report implementation difficulties to the Board.

Refund of excess electronic cash ledger balances clarified as time limit exempt and unjust enrichment not applicable.
Refunds of excess balances in the electronic cash ledger are not governed by the time limit in section 54(1); unjust enrichment declarations under Rule 89(2)(l)/(m) are not required for such refunds. TDS/TCS credits in the electronic cash ledger are equivalent to cash deposits and any unutilised amounts after discharge of dues are refundable as excess cash ledger balance under the proviso to section 54(1) read with section 49(6). For deemed exports, the relevant date for refund is the date the supplier files the return relating to those supplies.

Dynamic QR code exemption clarified: RBI approved payments allow invoices without QR; electronic cash ledger excess refunds exempt time bar.
Invoices to recipients located outside India for services whose place of supply is in India may be issued without a Dynamic QR Code when payment is received in convertible foreign exchange or in Indian rupees through RBI permitted modes. Refunds of excess electronic cash ledger balances are not subject to the time limit in section 54(1), do not require Rule 89(2)(l)/(m) certifications, TDS/TCS credits in the electronic cash ledger are refundable as excess balance, and the relevant date for refunds on deemed exports is the return filing date of the supplier.

Certificate of Origin (Non-Preferential) expanded as two additional agencies authorised to issue export origin certificates.
Authorisation adds two named trade bodies to the official list of agencies empowered to issue Certificate of Origin (Non Preferential), directing their inclusion in the policy appendices and providing operational contact details to formalise their authority for export documentation and compliance.

Conducting general meetings remotely under COVID-19 circulars: virtual meetings and postal ballots remain authorized for companies.
Permission is extended for companies to hold EGMs by Video Conference (VC) or Other Audio Visual Means (OAVM) or to transact items through postal ballot under the Companies Act, 2013 framework established by earlier General Circulars; all requirements and procedural safeguards in those circulars remain unchanged and continue to govern reliance on the virtual meeting and postal-ballot mechanisms.

Annual General Meeting via video conference permitted for eligible companies, but statutory deadlines remain and legal action may follow.
Companies with AGMs due in 2021 may hold those AGMs by video conference or other audio visual means in accordance with the procedural requirements set out in the referenced circular. This clarification does not confer an extension of the statutory time for holding AGMs under the Companies Act, 2013, and companies that do not meet the statutory timelines remain liable to legal action.

Benchmark rate transition to alternative reference rates alters all in cost ceilings for foreign currency ECBs and trade credits.
The benchmark for FCY ECBs and TCs is redefined to any widely accepted six month interbank rate or alternative reference rate. All in cost ceilings for new FCY ECBs/TCs are increased by 50 basis points to 500 bps and 300 bps respectively over the benchmark; existing LIBOR linked FCY ECBs/TCs transitioning to ARRs receive a one time ceiling increase of 100 basis points to 550 bps and 350 bps respectively over the ARR. INR ECBs/TCs remain unchanged and other policy provisions continue to apply.

Dynamic QR Code exemption for cross-border invoices allowed when payment received via RBI-approved modes in foreign exchange or local currency
Where an invoice is issued to a recipient located outside India for services whose place of supply is in India, and payment is received by the supplier in convertible foreign exchange or in local currency wherever permitted by the RBI, such invoice may be issued without a Dynamic QR Code, as the recipient located outside India cannot use the Dynamic QR Code for making payment.

Refund of excess electronic cash ledger balances not time barred; TDS/TCS credits refundable and deemed export refunds tied to supplier return.
Refunds of excess balances in the electronic cash ledger are not subject to the time limit in sub section (1) of section 54 and do not require unjust enrichment certification under Rule 89(2)(l)/(m). TDS/TCS amounts credited to the electronic cash ledger are equivalent to cash, may be utilised at the registered person's choice, and any unutilised amount may be refunded under the proviso to sub section (1) of section 54 read with sub section (6) of section 49. For deemed export supplies, the relevant date for refund is the date the supplier files the return relating to those supplies.

Container seal discrepancies require prompt re-sealing, customs intimation, manifest correction, recordkeeping, and full examination before clearance.
Import containers with broken, missing, tampered, or mismatched seals must be re-sealed by terminal operators and promptly reported to Boarding section and relevant destination officers. DPD, CFS, ICD, and transshipment movements require specified intimation procedures. Shipping lines must amend the bill of lading and Import General Manifest with competent approval. Boarding section officers must maintain daily records and submit weekly reports. Except for transshipment containers, all affected containers, including DPD containers, require 100 percent examination under docks supervision.

Import authorisation for watermelon seed imports limited to processors under actual user authorisations; applications due by announced deadline.
Import of Water Melon Seeds - Other (ITC(HS) 12077090) is capped for 01.01.2022-31.03.2022 and fresh online applications for import authorisation are invited until 13.12.2021. Eligibility is restricted to processors on an Actual User basis with IECs issued before the Public Notice, one application per IEC, a processing capacity certificate dated prior to the Public Notice, and a valid FSSAI license. Allocations will be made by the Exim Facilitation Committee considering processing capacity and prior imports; DGFT may amend allocations. Consignments must reach Indian ports by 31.03.2022.

Refund of excess electronic cash ledger balance exempt from ordinary filing time limits and unjust enrichment certification requirements.
The circular clarifies that the statutory time limit for refund applications does not apply to refunds of excess balance in the electronic cash ledger; unjust enrichment certification is not required for such refunds; TDS/TCS credits in the electronic cash ledger are equivalent to cash and unutilized balances may be refunded; and for deemed export refunds the relevant date is the date the supplier files the return relating to those supplies.

Dynamic QR Code requirement: invoices to non-resident recipients may be exempted when payment is in convertible forex or RBI permitted rupees.
Where a recipient is located outside India but the place of supply of services is in India, an invoice to that recipient may be issued without a Dynamic QR Code if the supplier receives payment in convertible foreign exchange or in Indian rupees where permitted by the Reserve Bank of India; such supplies are not considered export of services for this purpose and the prior trade circular entry is substituted to reflect this relief.

Seized gold (excluding jewellery) will be sold only to RBI; SPMCIL to collect, refine and deliver standard bars under documented procedures.
Seized/confiscated gold (other than jewellery) shall be sold only to the RBI under a tripartite MoU with SPMCIL. SPMCIL will collect gold from Customs Commissionerates, transport it to designated India Government Mints for XRF pre assay, pre melting, assaying and conversion into LBMA specification standard bars; handovers must use witnessed HOGS Notes and CCTV records. Focal Commissionerates issue Preliminary and Final Weight Notes based on SPMCIL assay outputs; SPMCIL delivers bars to RBI at Mumbai and charges for melting/refining and logistics are reimbursed by CBIC. RBI values gold using the 30 day average LBMA rate converted via FBIL and shares final weight and price with DoL prior to payment; DoL maintains ledgers and effects payments to SPMCIL.

Refund of wrongly paid tax available when supply is later reclassified and claim filed within the prescribed limitation period.
Refund entitlement covers cases where a supply initially treated by the taxpayer as intra State or inter State is later reclassified as inter State or intra State respectively, whether reclassification is made by the taxpayer or by a tax authority. Claimants must file Form GST RFD 01 within the prescribed limitation period measured from the date tax was paid under the correct head; payments made before the controlling notification are subject to a limitation measured from the notification date. Refunds are not available where tax has been adjusted via issuance of a credit note.

Publishing Investor Charter and disclosure of investor complaints by stock brokers on their websites required from Jan 1, 2022.
SEBI mandates that stock brokers publish an Investor Charter and disclose monthly investor complaints data on their websites, make the Charter available to clients and provide complaint statistics in the prescribed format (including pending counts, ageing buckets and average resolution time) updated by the 7th of the succeeding month. Stock Exchanges must notify brokers of these obligations. These disclosure requirements supplement existing mandates and take effect from January 1, 2022.

SEZ-Online user charges revised, covering transaction, Softex, AMC and registration fees, now effective from the announced date.
Revised SEZ-Online user charges, effective from 15.11.2021, prescribe specified per-transaction charges for customs and transfer filings, per-invoice Softex form fees, annual maintenance charges differentiated for units and developers/co-developers, and one-time registration fees for units and developers/co-developers; the circular supersedes earlier departmental tariff communications.