IGST exemption claims for specified medical imports require use of system serial numbers and compliance with applicable conditions.
IGST exemption is operationalised in the customs system for specified medical imports, subject to applicable conditions. Importers and customs brokers must claim the exemption through the corresponding Annexure A serial number. Covered goods include Remdesivir-related products, diagnostic kits, medical oxygen, oxygen production, storage and transport equipment, ventilators, related respiratory equipment, COVID-19 vaccines and Amphotericin B. Separate conditions apply to the IGST exemption framework and the earlier ad hoc arrangement, whose existing system claim procedure continues unchanged.

UPI-based ASBA processing updated: adjusted timelines and operational duties to streamline mandate blocking, unblocking, and CUG reporting.
SEBI adjusts implementation timelines for UPI-enabled ASBA processing: SCSBs must continue SMS alerts with full application/allotment details deferred for later issues; Sponsor Banks must implement an automated CUG web portal after testing, with interim email reporting and immediate notification of technical issues; the circular prescribes refined sequencing and cut-offs for registrars, Sponsor Banks and SCSBs to ensure timely unblocking of UPI mandates around allotment, and requires inclusion of the circular's contents in offer documents filed thereafter.

Internal review cell to examine tax orders and recommend appeals or revision under OGST procedural provisions.
Creation of an internal review cell to examine orders and Range Head recommendations for legality and propriety, and to advise the Commissioner on whether to pursue appeals before the first appellate authority or the Appellate Tribunal or to initiate revision proceedings; SR Section officers will staff the cell and assist in framing grounds and ensuring authorised, timely filing by Range officers.

Off-market transfer of securities permitted for FPI relocation to IFSC subject to DDP approval and tax and FEMA compliance.
A one-time off-market transfer is authorised for an FPI or its wholly owned special purpose vehicle to relocate holdings to a resultant fund, subject to DDP approval after appropriate due diligence. A relocation request is deemed an application for surrender of FPI registration, and the transfer is permitted without prejudice to tax laws and FEMA. DDPs and custodians must notify clients; the circular modifies an earlier SEBI instruction accordingly.

IGST exemption claims for COVID-19 imports require correct serial-number selection and compliance with applicable concessional import conditions.
IGST exemption for specified COVID-19-related imports is enabled in the customs system under Notification No. 32/2021-Customs, subject to its distinct conditions. Importers and customs brokers must use the applicable Annexure-A serial number for eligible Remdesivir-related goods, diagnostic kits, oxygen-related equipment and supplies, ventilators, COVID-19 vaccines, and Amphotericin B. IGST exemption under the earlier ad hoc route continues alongside basic customs duty exemption where its conditions are fulfilled. Certain concessional imports require compliance with the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.

Risk-o-meter disclosures and portfolio details implementation deferred; requirement applies only to investor subscribed schemes.
Only for schemes subscribed by an investor, mutual funds must disclose the risk-o-meter with the benchmark and performance comparison, and provide portfolio details. The circular defers the implementation date of these disclosure obligations following industry representation, and issues the extension under the regulator's statutory powers to facilitate investor protection and orderly compliance.

Regulatory filing extension for AIFs and VCFs permits delayed submissions to address pandemic-related compliance disruptions.
SEBI permitted Alternative Investment Funds and Venture Capital Funds to submit regulatory filings for periods ending March through July 2021 on or before September 30, 2021, pursuant to SEBI Act authority, with the Circular taking immediate effect to address pandemic-related compliance disruptions.

Corporate governance reports must now include half yearly disclosures of loans, guarantees and securities to promoters and insiders.
SEBI prescribes a standardized Corporate Governance compliance report format with Annex I (quarterly), Annex II (annual), Annex III (six months after year end) and Annex IV (half yearly, effective FY2021 22) which mandates tabular disclosure of loans, guarantees, comfort letters and securities provided directly or indirectly to promoters, promoter group, directors (and relatives), KMPs and entities they control, including amounts issued during the six month period, balances outstanding and an affirmation that such exposures are in the economic interest of the company, subject to specified statutory exclusions.

Inclusion of State Police Agencies under NATGRID access expands authorised recipients of taxpayer information for intelligence purposes.
The Central Board of Direct Taxes partially modifies its prior order to insert State Police Agencies as notified by the Central Government in connection with NATGRID project among authorised recipients of taxpayer information under Section 138(1)(a); the MoU between the Director General of Income-tax (Systems) and NATGRID must be amended to include those agencies and a copy of the amended MoU is to be forwarded for record, while all other provisions remain unchanged.

Employer-funded medical treatment exclusion: employer payments for specified eye treatment at approved hospital not taxable as perquisite.
Approval is granted to M/s Raj Retina and Eye Care Centre under the proviso to clause (viii) of sub-section (2) of section 17 read with Rule 3A(1) & 3A(2). Employer payments for medical treatment at the approved hospital for eye-related diseases or ailments (excluding ear, nose or throat) shall not be treated as a perquisite for sections 15, 16 and 17, and the employer need not deduct tax at source in respect of such sums.

FPI investment limits in government securities maintained; allocation equally between general and long-term with revised absolute caps announced.
FPI investment ceilings remain at six percent for government securities and two percent for State Development Loans for FY 2021-22; specified securities investments continue to be reckoned under the Fully Accessible Route. Incremental G Sec increases are allocated equally between General and Long term sub categories, while SDL incremental increases are fully allocated to the General SDL sub category. Revised absolute limits for half year periods across G Sec (General and Long term), SDL (General and Long term), corporate bonds and total debt are announced. AD Category I banks are directed to inform constituents; directions are issued under sections 10(4) and 11(1) of FEMA, 1999.

Investor Protection Fund rules require segregated trusts, prescribed contributions, and defined SOPs for investor claim processing.
Regulatory framework requires recognized stock exchanges and depositories to maintain segregated Investor Protection Funds administered by dedicated trusts with prescribed trustee composition, tenure and reporting. Specified contributions from listing fees, deposits, penalties and depository profits must be made; investment policies must prioritise capital protection and diversification. Uses are restricted to meeting legitimate investor claims, strengthening corpus and investor education, with detailed SOPs for member default, claim invitation, processing, auditing, committee approval and disbursement, plus disclosure, review and corpus adequacy review obligations.

AEO certificate validity receives a temporary extension, preserving renewal facilitation for eligible programme participants during the transition.
AEO certificates expiring between 1 April 2021 and 31 May 2021 receive an extension until 30 June 2021 to facilitate renewal. The extension does not apply to entities found ineligible for continuation under the AEO Programme. AEO-T1 and AEO-T2 certificates ordinarily remain valid for three years, while AEO-T3 and AEO-LO certificates ordinarily remain valid for five years.

Change of developer status approved subject to continuity, statutory approvals, eligibility checks, tax disclosure and compliance obligations.
The Board approved or ratified extensions of LoAs, transfers of ownership, demergers and changes in developer/co developer status subject to statutory approvals and uniform conditions: continuity of SEZ activities, fulfilment of eligibility including security clearances, compliance with Revenue/Company/SEBI rules, immediate furnishing of financial details to CBDT and jurisdictional authorities, assessing officer's right to assess taxability under the Income Tax Act, and conformity with State land/lease laws. Procurement of restricted items like sand was permitted under Rule 27(1) on condition of actual SEZ use and adherence to environmental regulations. Revised policies for worn clothing and plastic recycling units prescribe renewal limits and export obligations, with plastic recycling LoAs extended for 18 months.

GST Council minutes: late fee caps, annual return simplification, COVID relief, Fitment rate measures and GSTN project extensions.
The Council approved prospective caps on late fees for GSTR 3B/GSTR 1/GSTR 4/GSTR 7 linked to turnover and nil liability cases, a conditional amnesty capping historic GSTR 3B late fees if filed between 01.06.2021-31.08.2021, simplification and provisional notification of annual return provisions for FY 2020 21 with a merged form to follow, amendments to make GSTR 1/3B the default return system (to be finalised by the Law Committee), temporary COVID related relaxations of interest/late fees and due dates, partial rate concessions for specified COVID supplies with a GoM to review deeper rate relief, deemed ratification of listed notifications, approval of GSTN project extensions and IRP expansion, and referral or deferral of major structural issues (inverted rates, ENA) for further study.

Emergency oxygen-cylinder imports allow urgent clearance without prior approval, subject to compliance requirements before refilling operations.
Relaxations under the Gas Cylinders Rules, 2016 permit expedited approval and customs clearance of imported medical oxygen cylinders and pressure vessels. Physical inspection of a foreign manufacturer's production facility is exempted, and online approval is based on manufacturer details, ISO certification, specifications, drawings, batch numbers, hydro-test certification, and third-party inspection certification. Urgent imports may proceed where an online application is pending or has not been made, subject to the consignee complying with relaxed conditions before oxygen filling. Customs clearance may be granted without PESO approval.

Electronic bill of entry amendment enables auto-approved correction of bill of lading details for advance filings.
Electronic amendment of Bill of Lading details in prior or advance Bills of Entry permits importers and customs brokers to correct incorrectly declared master or house Bill of Lading/Air Waybill numbers through the Customs EDI system. Using amendment code A_PBEIGM, corrected details are auto-approved and the Bill of Entry is auto-regularised where they match the Import General Manifest. The mechanism is limited to Bill of Lading-number corrections; amendments to container details and other particulars require officer approval.

Restrictions on used clothing and conditional approval for plastic recycling units enforce export and environmental compliance.
Policy revises regulation of used/worn clothing and plastic recycling units in SEZs/EOUs. New used-clothing units are prohibited; existing units may seek five-year LoA renewals subject to NFE obligations and export thresholds by turnover and tonnage. Plastic recyclers' LoA renewals are time limited and subject to environmental clearance and statutory compliance; DoC and DGFT will propose rule and FTP amendments to permit new plastic recycling units. Both categories may clear goods to DTA and other SEZs/EOUs provided NFE and other conditions are met, but inter SEZ/EOU clearances do not count toward mandatory physical export obligations.

Place of Supply declaration required: suppliers from any state may supply oxygen cylinders, must report in tax return.
The Department of Health & Family Welfare may procure oxygen cylinders and related items from suppliers with valid GSTIN issued by any State or Union Territory, limited to those healthcare items. As a condition of supply the supplier must declare the Place of Supply in Table 3.2 of the relevant GSTR 3B return to protect the State's revenue.

Certificate issuance fee fixed for export-clearance certificates under Handbook of Procedure 2015-20; amendment notified by public notice.
Amendment replaces Para 2.108(c)(iv) of the Handbook of Procedure, 2015-20 to prescribe a fee of Rs. 200/- per certificate, thereby standardising the charge previously left subject to agency prescription; the Public Notice formally notifies this fee under powers conferred by the Foreign Trade Policy.