IRP/RP registration and related GST compliance clarified; extensions and authorized signatory procedures provided for COVID affected periods.
Clarifies GST compliance for insolvency professionals and COVID affected taxpayers: IRP/RP registration deadlines are extended and corporate debtors who have filed prior GST returns need not obtain separate registrations; replacement of IRP by RP constitutes a change of authorized signatory rather than a fresh registration. Merchant exporter export period and due date for FORM GST ITC 04 are extended where the original compliance period fell within the COVID affected window. Field formations must apply these interpretations and may assist with authorized signatory amendments.

GST refunds and adjustments: credit notes, refund vouchers or prescribed refund forms govern reversal of tax and excess payment claims.
Where a tax invoice was issued and GST paid on an advance or on goods later returned, the supplier must issue a credit note and declare it in the return to adjust tax liability; a separate refund claim is unnecessary unless no output liability exists, in which case a claim for excess tax payment may be filed through the prescribed refund procedure. If advances were recorded by receipt voucher without issuance of invoice, the supplier must issue a refund voucher and may apply for refund as excess payment under the prescribed refund form.

Reduced Interest Relief for GST returns: conditional nil/low interest and late-fee waivers subject to filing by specified dates.
Clarification prescribes COVID-19 relief measures under West Bengal GST: extended filing windows for composition scheme statements and annual returns; conditional reduced interest (nil for initial 15 days then a lower rate) and waiver of late fees for FORM GSTR-3B for Feb-Apr 2020 subject to filing by specified cut-offs and turnover thresholds; waiver of late fees for FORM GSTR-1 if filed by the extended date; cumulative application of rule 36(4) for Feb-Aug 2020 with adjustment in Sept 2020 return; extension of e-way bill validity and suspension of time limits for certain withholding, collection and other returns until the extended date.

Line of credit support enables project-tied exports subject to export eligibility, sourcing and FEMA compliance.
State-supported Line of Credit of USD 7.35 million finances export of eligible goods and services for a hospital project in Nicaragua, requiring at least 75 per cent of contract value to be supplied from India and allowing up to 25 per cent procurement from outside India. The Agreement is effective from April 16, 2021 with a terminal utilisation period of 60 months after scheduled completion, shipments to be declared in the Export Declaration Form, and no agency commission payable under the LoC except from exporter's own resources or EEFC balances subject to AD Category I bank compliance and FEMA directions.

CSR funding eligibility allows spending on COVID health infrastructure and oxygen facility projects, subject to CSR Rules compliance.
Spending CSR funds on COVID care health infrastructure, medical oxygen generation and storage plants, and manufacture or supply of oxygen-related medical equipment is eligible under the health care and disaster management heads of Schedule VII; contributions to specified R&D projects and public-funded research organisations are also eligible. Companies, including government companies, may undertake these activities directly or collaboratively, subject to compliance with the Companies (CSR Policy) Rules, 2014 and Ministry guidelines.

IGST exemption for donated COVID-19 relief imports requires authorised free distribution and a pre-clearance nodal certificate.
Ad hoc Exemption No. 04/2021-Customs exempts specified COVID-19 relief materials from integrated goods and services tax where they are received free of cost and imported for free distribution in India. Imports may be made by a State Government or by an entity, relief agency or statutory body authorised by the State Government's Nodal Authority. Eligibility is limited to specified goods, and the importer must produce the prescribed Nodal Authority certificate before customs clearance. Customs personnel must facilitate seamless and timely clearance of eligible imports.

Pre-shipment inspection agency inclusion recognises Mats Fareast, adds instrument approvals and requires administrative updates with immediate effect.
M/s Mats Fareast PTE Ltd is included in Appendix 2G as a recognised Pre Shipment Inspection Agency authorised to issue Pre Shipment Inspection Certificates, with PSIA approval valid for three years or until further notice; the annexure lists approved instruments and highlights calibration non compliance. Existing agency Marine Inspection and Logistics International (Rotterdam) B.V. may add specified instruments, Ravie Energie Inc.'s head office address change is notified, and all notified PSIAs must update membership certificates and contact details within 30 days.

Timeline relaxation for debenture trustees extends compliance deadlines due to pandemic impact on monitoring and disclosures.
SEBI extends timelines for debenture trustees to submit required reports and certifications to stock exchanges and to publish specified website disclosures-including asset cover certificates, quarterly compliance reports, utilization certificates, breach status and actions taken, and accounts under trustee supervision-and provides a separate extension for reporting regulatory compliance under the earlier circular, invoking SEBI's powers under Section 11(1) of the SEBI Act and Regulation 2A of the Debenture Trustees Regulations, 1993 to address pandemic-related operational challenges.

Bank merger compliance removes the previous bank's no-objection requirement for exporter AD Code and IFSC approval updates.
Bank amalgamations and mergers require an exporter seeking approval of AD Code/IFSC with a bank account in ICES to submit the modified Annexure A from its current bank through E-Sanchit. A separate no-objection certificate from the previous bank is not required where the bank has merged or amalgamated. The revised procedure applies to changes in AD Code/IFSC and bank-account approval arising from bank mergers.

COVID-19 relief imports exempted from IGST if authorised by state nodal authority and certified for free distribution.
An ad hoc IGST exemption applies to imports of specified COVID-19 relief materials received free of cost for free distribution, subject to conditions: State/UT appointment of a nodal authority to authorise importers; production at customs of a nodal certificate confirming goods are for free distribution; and submission within six (or, if extended, nine) months of a nodal certified statement to the Deputy/Assistant Commissioner of Customs detailing imported and distributed goods. The exemption covers consignments pending clearance and customs formations must expedite clearance and coordinate with State authorities.

Board meeting interval extended for two financial quarters to provide pandemic-related compliance flexibility for corporate boards.
The Ministry of Corporate Affairs temporarily extends the permissible interval between consecutive board meetings by sixty days for the first two financial quarters of 2021-22, allowing a longer gap than normally prescribed for the quarters April-June and July-September, as an administrative clarification to address Covid-19 related difficulties.

Relaxation of filing timelines for charge forms: delays condoned with adjusted fee calculation and specific exclusions.
Relaxation of timelines is granted for filing Form CHG-1 and Form CHG-9 by excluding the period 01.04.2021-31.05.2021 from reckoning statutory filing days for certain charge creations or modifications; counting, where applicable, is to resume from 01.06.2021. Fees for filings on or before 31.05.2021 are charged at the baseline rate, while filings after that date attract fees calculated by counting days from 01.06.2021 (or the first day after creation as so reckoned) together with any specified pre-baseline period. Specific exclusions (already-filed forms, lapsed timelines before 01.04.2021, non-extended expiries, and CHG-4 filings) apply.

Relaxation of additional fees permits filing company and LLP forms without extra fees until 31 July 2021, excluding charge forms.
The waiver allows companies and LLPs to file forms due between 1 April and 31 May without additional fees if filed by 31 July; only normal fees apply, but charge forms CHG 1, CHG 4 and CHG 9 are excluded and remain subject to additional fees for late filing.

Timelines for SID and KIM updates require half yearly electronic filings and expedited updation after scheme launch to protect investors.
Requires SID updates for open ended and interval schemes within six months after the half year of launch and thereafter within one month from each half year end using data as of September and March; KIM must be updated at least once every half year within one month from the half year end, filed electronically with SEBI. For the half year ended March 2021, updation is to be completed by the stated compliance cutoff; circular issued under SEBI Act powers and Regulation 77 of the Mutual Funds Regulations to protect investors.

Fee per certificate increased under Handbook amendment, requiring agencies to apply the revised prescribed charge.
Amendment revises the fee per certificate in Para 2.108(c)(iv) of the Handbook of Procedure, 2015-20, increasing the prescribed per-certificate fee by notification. The change is effected under powers granted by the Foreign Trade Policy and communicated via Public Notice No. 3/2015-2020, requiring concerned agencies to apply the enhanced prescribed fee for issuance of certificates.

Extension of compliance deadlines under the Income tax Act allows additional time to file appeals, objections, returns and statements.
Extension of timelines under the Income-tax Act grants relief by shifting due dates to 31st May for specified compliance obligations falling on or after 1st April 2021, including appeals to the Commissioner (Appeals), objections to the Dispute Resolution Panel, returns in response to Section 148 notices, belated and revised returns for the relevant assessment year, payment and challan-cum-statement filings for tax withheld, and Form No. 61 statements for declarations under Form No. 60.

Relaxation of compliance timelines: deadline for RTA and market participant obligations extended due to Covid-19 impacts.
SEBI revises its April 13, 2020 relaxations by adding processing of demat requests to the Annexure list, making thirteen eligible items for timeline relief. Compliance timelines for items 1-13 are extended to July 31, 2021 for intermediaries and market participants. Separately, the deadline for submission of the half yearly Internal Audit Report (IAR) by RTAs for the half year ended March 31, 2021 is extended to July 31, 2021. The circular is issued under Section 11(1) of the SEBI Act to protect investor interests and regulate the securities market.

Relaxation of compliance timelines for market intermediaries extended to accommodate pandemic-related operational disruptions.
SEBI extended compliance deadlines for Trading Members, Clearing Members, Depository Participants and KYC Registration Agencies due to Covid-19, deferring deadlines for call recordings, KYC uploads to KRA, issuance of annual global statements on request, client funding reporting and operation from alternate terminals to end-June 2021, and extending audit, net worth, system/cyber audit, risk reporting, AI/ML reporting and related submissions to end-July 2021. Depository Participant timelines for BO grievances, investor grievance redressal, demat account closure and demat request processing were similarly relaxed. Exchanges and depositories must notify members and publish the circular.

Risk-o-meter disclosure required with scheme performance and portfolio details sent only to subscribed investors via email.
Mutual funds/AMCs must disclose the risk-o-meter of the scheme and the benchmark alongside scheme performance, and send scheme portfolio details by email only to investors who are subscribed to the relevant schemes; these portfolio details should accompany fortnightly, monthly and half yearly portfolio statements, effective June 1, 2021.

Listing compliance extensions granted for debt, municipal bond and commercial paper filers; digital signatures permitted for filings.
SEBI temporarily extends timelines under the Listing Obligations framework for entities with listed debt securities, municipal bonds and commercial paper for the quarter/half year/year ending March 31, 2021, covering Regulation 52 filings and statements of deviation/variation, and permits the use of digital signature certifications or digitally signed documents for stock exchange filings until December 31, 2021.