Relaxation of compliance timelines extends deadlines for client call recordings and KYC uploads, allowing a backlog clearance window.
Relaxation of timelines extends the deadline for maintaining client call recordings and provides an exclusion period with a defined backlog-clearance window for uploading client KYC application forms and supporting documents to KRA systems. Stock exchanges and clearing corporations must notify and require members to clear any backlog within the prescribed windows; the measures are issued under statutory regulatory powers to protect investor interests and regulate securities markets.

Creation of security and debenture trustee due diligence requirements: implementation timeline extended to ease compliance obligations.
SEBI has deferred the effective date for compliance with the requirements on creation of security for listed debt issuances and the due diligence obligations of debenture trustees, in response to representations from debenture trustees and operational challenges due to the COVID 19 pandemic; the extension applies to issuers proposing listed debt, recognized stock exchanges and registered debenture trustees and is issued under SEBI's regulatory powers to protect investors and regulate the securities market.

Order Management System requirement mandates automated scheme-wise order placement with audit trail and time-stamping for fund managers.
Trade execution and allocation obligations require use of an automated Order Management System for equity and equity-related orders, with scheme-wise placement by fund managers or authorised employees, and maintenance of a scheme-wise audit trail and time-stamping from fund manager instruction through dealer placement, execution and allocation; discretion-free transactions may be excluded from OMS if documented and equivalent audit trails and compliance with allocation limits are maintained, and fund managers retain responsibility for order placement.

Proxy advisor reporting obligations require prompt client alerts for errors and rapid communication of material revisions to protect investors.
SEBI-registered proxy advisors must alert clients within 24 hours of receipt of information about factual errors or impending material revisions to reports, and communicate any material revisions to clients within 72 hours of receipt while ensuring adequate time for clients to make informed decisions; these modified time-bound notification and communication duties supplement the existing procedural framework and are issued under SEBI's regulatory mandate to protect investor interests.

Virtual meetings and postal ballots permitted under Companies Act extended for corporate compliance during COVID-19.
Companies are authorised to conduct EGMs via video conferencing or other audiovisual means, or transact items by postal ballot, as per the framework of earlier Ministry circulars; all procedural requirements in those circulars remain unchanged. The temporary permissions are extended until 30th June, 2021, and the circular is issued with approval of the competent authority.

Paperless LPCO uploads by PGAs mandate electronic submission and deactivate beneficiary uploads, requiring ICEGATE email registration.
Directs migration to eSANCHIT for electronic uploading of digitally signed LPCOs by PGAs; two additional PGAs are enabled. Beneficiary and broker upload rights are deactivated from the cut-off, necessitating PGA upload of recent LPCOs and acceptance of requests to upload prior LPCOs. Communication and IRN transmission rely on email addresses registered on ICEGATE; formations must ensure correct beneficiary email registration and issue public notices.

Facilitated import-export of COVID-19 vaccines via courier now allowed without value limits, with special container and clearance procedures.
Amendments permit import and export of COVID 19 vaccines via courier without any value limitation where ECCS operates, and allow temporary importation and re export of durable vaccine containers and accessories subject to Circular No.51/2020 procedures, including execution of a continuity bond and separate Customs declaration. Importers should indicate the container's unique identifier in the Courier Bill of Entry (CBE V) and in the Courier Shipping Bill (CSB IV) at re export. Commissioners must form a Task Force to coordinate stakeholders for efficient clearance and publicise its details.

UIN recording waiver allows invoices without Unique Identity Numbers during the specified GST period under uniform implementation directions.
Waiver from recording the Unique Identity Number (UIN) on invoices applies from April 2020 to March 2021. State tax field formations are instructed to follow the central GST clarification on this invoice-documentation waiver to ensure uniform implementation of the State GST Act.

Quarterly return monthly payment scheme enables quarterly returns with monthly tax deposits, using fixed sum or self assessment payment methods.
Quarterly Return Monthly Payment Scheme allows registered persons with aggregate turnover up to five crore rupees to file FORM GSTR-1 and FORM GSTR-3B quarterly while making monthly tax payments for the first two months via FORM GST PMT-06 by either a portal auto calculated fixed sum (35% of prior quarter cash tax or last month cash tax) or by self assessment, with optional Invoice Furnishing Facility for the first two months; interest and late fee consequences are specified and deposits are adjustable only against the quarter's GSTR 3B liability.

Extension of installation deadline for Radiation Portal Monitors and Container Scanners allows additional time for seaport compliance.
Amendment of Para 2.54(d)(v)(ii) of the Handbook of Procedures, 2015-2020 extends the deadline for installation and operationalisation of Radiation Portal Monitors and Container Scanners at designated seaports, exercising powers under the Foreign Trade Policy to modify the compliance timeline applicable to those ports.

Recognition of Pre Shipment Inspection Agencies: agencies re notified with multi year validity, equipment approval and reporting obligations.
Re notification of Appendix 2G recognises listed entities as Pre Shipment Inspection Agencies authorised to issue Pre Shipment Inspection Certificates using specified, DGFT approved spectrometers, survey meters and explosive detection kits. Agencies may inspect in countries without a full time branch by deputation subject to prior intimation and reporting to DGFT; they must maintain up to date membership certificates, office contact details, and ensure approved instruments carry valid calibration and supporting purchase documentation as recorded in the annexure. One agency's additional areas are time limited.

Modification of PAN-based IEC: new PAN may obtain IEC and prior IECs can be operationally linked and surrendered.
Where a change in constitution results in a different PAN, an IEC may be obtained against the new PAN and previous IEC(s) can be operationally linked to the new PAN/IEC. An online application to the jurisdictional Regional Authority with supporting documents and affidavits must be submitted; the RA may sanction the linkage after scrutiny, and upon approval previous IEC(s) shall be treated as surrendered.

Schemes of arrangement and relaxations under rule 19: consolidated procedural and compliance guidance for listed entities.
Master compilation providing procedural and compliance guidance for listed entities on Scheme of Arrangement and the Relaxation under Sub-rule (7) of rule 19, consolidating operative circulars that set out filing, disclosure, process requirements, and conditions for relaxations, while stating that any inconsistency will be resolved in favour of the underlying circulars.

Jurisdiction allocation for international taxation: designated income-tax authorities authorised to exercise specified powers over defined assessees.
The Principal Chief Commissioner (International Taxation), under CBDT powers and related notifications, authorises designated ACIT/DCIT(IT) authorities and their headquarters to exercise jurisdiction for purposes of Chapter VIII of the Finance Act, 2016 in respect of specified persons or classes of assessees. The order supersedes earlier office orders, prescribes supervisory Range Heads and Commissioners for each authorised circle or range, and details territorial and administrative allocations of assessees to the authorised international taxation authorities; it comes into immediate force and records subsequent textual corrections.

VAT security refund allows return of FDRs after closure of dues, appeals, penalties, and departmental formalities.
Refund of security by way of FDR deposited at the time of VAT registration is permitted under Section 19(8) of the Uttar Pradesh VAT Act, 2008 where the amount is no longer required for the purposes of the Act. After the commencement of GST, no security is taken for registration and VAT-era security may be refunded on application, subject to the stated restriction that the arrangement does not apply to traders dealing in non-GST goods. Before release, the authority must verify closure or settlement of VAT matters, absence of dues, pending appeals, penalties, and departmental formalities.

Core Settlement Guarantee Fund and default waterfall rules for LPCC set contribution, replenishment, and loss allocation mechanisms.
SEBI establishes that LPCC Core SGF contributions shall be made by issuers (upfront levy based on issuance value), clearing members (risk based primary contribution to cover residual margin deficits, exposure free and pro rata), and the LPCC (transfer of profits and optional additional funds counted as net worth). Replenishment must occur immediately after usage with a once per 30 day replenishment cap from the notice of default; LPCC must temporarily cover failures to replenish. A prescribed default waterfall sequences member monies, insurance, issuer contribution, LPCC resource layers, Core SGF components, capped calls on non defaulting members, and finally pro rata haircuts to payouts, with specified calling, resignation and SEBI approval conditions.

Stress testing cap for extreme commodity price movements replaces outliers beyond a high z-score using long term mean and sigma.
SEBI amends stress-testing norms for commodity derivatives to cap extreme historical price returns by replacing returns beyond a Z-score of 10 with the Z-score-10 movement; the Z-score is computed using mean and sigma of returns over the applicable MPOR across a 15-year period. This measure addresses exceptional volatile price events and is effective on issuance.

GST audit under section 65: procedural framework for verification of returns, ITC, records and taxpayer cooperation.
The circular prescribes procedure for GST audit under section 65, defining its object as verification of correctness of declared turnover, taxes, refunds and input tax credit and compliance with MGST Act. Cases are selected by risk analysis or randomly; audits commence by Form GST-ADT-01 and are normally at the taxpayer's place of business. Scope covers verification of returns, books, invoices, e-way bills, agreements and reconciliations (e.g., GSTR-2A); AOs may summon evidence under delegated powers but shall not remove records or search premises. Rights and duties of the registered person and an indicative document list are provided.

Permissible holders of Depository Receipts: NRIs allowed for employee benefit, bonus and rights issues; issuers must identify NRI holders.
SEBI clarifies that permissible holders of Depository Receipts must be non residents and not NRIs, but creates exceptions allowing NRIs to hold DRs issued under share based employee benefit schemes and to receive DRs via bonus or rights issues. Beneficial Owner retains the Prevention of Money Laundering Rules definition, and both permissible holders and beneficial owners remain responsible for compliance. Listed companies must identify NRI DR holders under employee schemes and provide that information to the designated depository for monitoring; exchanges and depositories must amend rules and notify market participants.

Tariff Rate Quota allocation for sugar enables preferential exports to USA under specified certification and reporting conditions.
Allocation of 8424 MTRV of raw cane sugar, refined and specialty sugar, and sugar-containing products is notified for export to the USA under the Tariff Rate Quota for US fiscal year 2021. Exports (HS Code 17010000) are 'Free' under TRQ subject to existing conditions. Where required, the Certificate of Origin will be issued by the Additional Director General of Foreign Trade, Mumbai, and prescribed reporting requirements continue to apply.