Faceless Assessment: additional exception allows off-platform assessments where ITBA pendency failed or PAN is absent.
The Central Board adds an exception to the faceless assessment regime permitting assessments outside the national faceless mechanism where ITBA pendency could not be created for technical reasons or where the assessee lacks a PAN, and clarifies that cases transferred by senior officials in charge of the national faceless mechanism are to be handled as per the specified procedural letter.

Import quota for Myanmar pulses requires certified Certificate of Origin and DGFT NOC before customs clearance.
Bilateral MoU imports of Myanmar-origin Urad and tur are subject to an annual import quota admitted through private trade, permitted only via five specified ports and conditional on a Certificate of Origin certified by Myanmar authorities and emailed to DGFT. Indian importers must submit the scanned certificate plus IEC details to DGFT at the prescribed email; DGFT will verify against the issuing authority's copy and, if matched, issue an NOC enabling Customs clearance.

Import quota for pigeon peas: imports permitted subject to Certificate of Origin and receipt of NOC for customs clearance.
Imports of 50,000 MT of tur (pigeon peas) from Malawi for 2021-22 are authorised only through five specified ports and require a Certificate of Origin certified by Malawi's Customs and Excise Division with Government stamps. The Malawi designated authority must send a scanned certificate to DGFT's email; the Indian importer must send the scanned certificate and its IEC to the same address. DGFT will compare documents and issue an NOC, upon which Customs may clear the consignments.

Extension of time to apply for revocation of cancelled registration extended to 30 September 2021 for eligible SGST cases.
The time limit to file applications for revocation of cancellation of registration where due dates fell between 1 March 2020 and 31 August 2021 is extended to 30 September 2021 for cancellations under clause (b) or (c) of sub section (2) of section 29; this extension applies regardless of whether an application is not filed, pending, rejected, or pending/decided on appeal. Interaction with the proviso to section 30 is clarified: cases whose initial 30 day period lapsed before 1 January 2021 get only the notification benefit to 30 September 2021, while cases with remaining 30/60/90 day windows as of 31 August 2021 have specified possibilities for further administrative extensions by Joint/Additional Commissioners and the Commissioner.

Extension of time for revocation of cancelled GST registration allows filing and reconsideration during the extended period.
The Circular clarifies that Notification No. 34/2021 extends the due date for filing applications for revocation of cancellation of registration to 30 September 2021 for cases whose original due date fell between 1 March 2020 and 31 August 2021, applies to cancellations under clause (b) or (c), covers unfiled, pending, rejected and appealed matters, and explains interaction with administrative proviso extensions by Additional/Joint Commissioners and Commissioners.

Revocation of cancelled GST registration window extended; clarifies applicability and conditions for further 30-day statutory extensions.
Where the due date to apply for revocation of cancellation of registration fell between 1 March 2020 and 31 August 2021 for registrations cancelled under clause (b) or (c), the filing deadline is extended to 30 September 2021. The extension applies regardless of application status (not filed, pending, rejected, on appeal, or rejected on appeal), and officers and appellate authorities must process or decide matters taking the extended timeline into account. The circular further clarifies how this extension interacts with the statutory proviso permitting additional administrative extensions of the initial filing period.

Investor Protection Fund interim relief updated, exchanges to release phased payments and permit arbitration venue shifts.
Amendments allow arbitration venue shifts to a metro at a party's request with costs borne by the requester; require exchanges to refund deposits to parties favoured by awards when claims are filed beyond prescribed timelines and to transfer additional late-filing fees from trading members to the IPF; mandate defaulter-member claims be sanctioned by the Member Core Settlement Guarantee Fund Committee and sent to the IPF Trust for disbursement; and prescribe staged interim relief releases from the IPF with an annual cap, while preserving investors' right to seek external fora for balance claims.

AMC investment alignment with unitholders: mandatory risk based holdings to be maintained and publicly disclosed.
SEBI requires AMCs to maintain a minimum investment in each mutual fund scheme proportional to scheme risk as per the risk-o-meter, using the immediately preceding month's risk value and measured against assets under management. AMCs must maintain this investment for the scheme's tenure or until wind-up, conduct quarterly compliance reviews (except for closed-ended schemes), cure shortfalls within seven days, and may fund the obligation from net worth or sponsor funding subject to net-worth replenishment rules; Trustees monitor compliance and non-compliance must be reported, with scheme-level disclosures on AMC and AMFI websites.

Liquidity enhancement scheme governance tightened: board approval annually with quarterly monitoring; schemes may cover any security and be reintroduced.
SEBI requires stock exchanges to obtain prior Governing Board approval for each Liquidity Enhancement Scheme, valid for one year and renewable annually, with quarterly monitoring of implementation and outcomes; schemes may be introduced on any security and reintroduced after discontinuation; exchanges must implement systems, amend bye laws and notify trading members and public via their websites.

Faceless assessment grievance facilitation creates a helpdesk and nodal escalation mechanism for urgent Bill of Entry clearance issues.
Faceless assessment grievance facilitation is established through the Turant Suvidha Kendra at Nhava Sheva for clearance-related grievances concerning Bills of Entry filed at the port. Importers, exporters, customs brokers and other stakeholders may approach designated officers or use specified electronic and telephone channels. A Joint Commissioner at the Turant Suvidha Kendra serves as the single nodal escalation point for urgent Bill of Entry clearance grievances, while implementation difficulties may be raised before the Additional or Joint Commissioner.

AEO T2 and T3 certification now requires portal registration, enabling real-time application monitoring and digital deficiency responses.
Online processing for AEO T2 and AEO T3 certification requires applicants, after physically submitting documents to the jurisdictional AEO Cell, to register on the AEO portal and upload completed application annexures. Applicants can monitor processing in real time and upload additional documents to cure deficiencies. Existing AEO T1 status holders applying for AEO T2 may use existing login credentials. Portal registration became mandatory for AEO T2 and AEO T3 certification from 1 August 2021, while applications filed before 7 July 2021 may remain under manual processing unless migration is requested.

Risk-o-meter disclosure requirement mandates scheme and benchmark risk metrics be provided with performance and portfolio communications to investors.
Mutual funds and AMCs must disclose the risk-o-meter of schemes and the primary benchmark wherever scheme performance or performance versus the benchmark is disclosed; portfolio statements sent by email must include the scheme risk o meter, benchmark name and benchmark risk o meter, with international benchmark scoring aligned to existing product labeling; AMCs must enable investors to view/download only portfolios of schemes they hold and obtain benchmark risk o meter data from index providers shortly after month end.

Extension of BASL membership deadline granted; non-compliant investment advisers face suspension or cancellation under securities law.
Existing Investment Advisers must obtain membership of BSE Administration & Supervision Limited within an extended timeline; failure to comply will attract disciplinary measures including suspension or cancellation of certificate of registration. The extension responds to representations and is issued under the regulator's statutory powers to protect investor interests and regulate the securities market.

Extension of electronic filing deadlines for specified statutory tax forms improves compliance timelines for affected filers.
Extension of electronic filing deadlines is provided for applications for registration or approval in Form No.10A and Form No.10AB, Equalization Levy Statement in Form No.1, authorized-dealer quarterly statements in Form No.15CC, recipient declarations in Form No.15G/15H, Sovereign Wealth Fund and Pension Fund intimations in Form II SWF and Form No.10BBB, and international group reporting in Forms No.3CEAC, 3CEAD and 3CEAE, with specified revised final dates for each listed filing obligation.

Accredited Investor framework allows eligible investors to access lower investment thresholds and regulatory concessions with accredited certification.
The framework establishes Accredited Investors who may access lower investment thresholds or specified regulatory concessions subject to accreditation by authorised Accreditation Agencies. Agencies verify identity, financial eligibility and fit-and-proper status, issue unique Accreditation Certificates with defined validity, and maintain accreditation records. Applicants must submit prescribed documentary proof and undertakings; investment providers must verify accreditation, disclose concessions in client agreements, and record consequences of loss or withdrawal of accreditation. Consent withdrawal is permitted subject to client-agreement modalities, except for pooled products launched exclusively for AIs.

Recognition of GMP and GLP accredited laboratories for duty free transfers under Rule 50(3) reduces regulatory compliance burdens.
GMP and GLP accredited laboratories and institutions are to be accepted as recognized entities for duty free temporary transfer of goods for quality testing or R&D under Rule 50(3) of the SEZ Rules, 2006, and their accreditation certificates shall be accepted in lieu of separate recognition certificates required by the proviso to Rule 50(3).

Extension of limitation: applies to judicial and quasi judicial GST appeals and revisions, not routine compliance actions.
The Supreme Court's extension of limitation applies to judicial and quasi-judicial proceedings under UPSGST - notably appeals, reviews and revisions - and thus extends filing periods before appellate authorities, tribunals and courts. Original adjudication, taxpayer compliances and statutory filing obligations remain governed by the statute or specific notifications and are not covered by the Court's extension. Investigatory and enforcement actions including scrutiny, summons, search, enquiry and arrest are excluded. Tax authorities should continue to hear and dispose of quasi-judicial matters and publicize this clarification.

Dynamic QR Code requirement: QR must reflect remaining payable and may use UPI or authorized collector IDs for B2C invoices.
Clarification prescribes that invoices to UIN holders are treated as B2C and require a Dynamic QR Code; UPI ID alone suffices (no bank/IFSC), third party collectors' UPI IDs may be used, foreign recipient invoices may omit QR, order IDs can substitute invoice numbers when uniquely linked, and QR amounts must show the remaining payable where part payments/adjustments exist, with full reconciliation on the invoice.

GST classification for sprinkler and drip irrigation parts: components solely for those systems attract the chapter's concessional rate.
Parts and laterals that are solely or principally usable with sprinklers or drip irrigation systems and classifiable under the HSN heading for sprinklers/drip irrigation attract the concessional GST rate applicable to that heading even when supplied separately; parts of general use that fall under other HSN headings will attract the GST applicable to those respective headings.

GST exemption on government loan guarantees reiterated for guarantees provided to government undertakings and public sector undertakings.
The circular reiterates that services supplied by Central or State Government to their undertakings or public sector undertakings by way of guaranteeing loans are exempt from GST under the relevant exemption entry in the notification, and asks recipients to report implementation difficulties to the issuing office.