Refund of Input Tax Credit restricted to supplier uploaded invoices reflected in GSTR 2A, imports and RCM unaffected.
Refund of accumulated Input Tax Credit shall be restricted to ITC recorded on invoices uploaded by the supplier in FORM GSTR-1 and reflected in the applicant's FORM GSTR-2A; refunds based on missing invoices uploaded by the applicant are no longer admissible. This restriction does not affect refunds for ITC on imports, ISD invoices, or inward supplies liable to reverse charge, whose treatment remains as before. The Circular is clarificatory and parties may report implementation difficulties to the Commissioner.

Deposit and debenture reserve compliance extended due to COVID 19, with other regulatory requirements remaining unchanged.
Extension permits additional time for companies to create the deposit repayment reserve and to make the required investment or deposit for debentures as specified in the earlier circular; this relief responds to COVID 19 related compliance difficulties. The extension is limited to the matters identified in the earlier circular's specified paragraphs and all other regulatory requirements remain unchanged.

GST interest relief and late fee waiver for delayed returns were clarified for COVID-19 affected taxpayers.
Relief measures for GST taxpayers affected by COVID-19 were clarified by modifying the earlier circular to align with subsequent Government notifications and GST Council recommendations. The clarification explains the revised treatment of interest on delayed GST return filing and conditional waiver of late fee for FORM GSTR-3B and FORM GSTR-1, with the position varying according to aggregate turnover and the relevant tax period. It also states that late fee waiver is conditional upon filing returns by the prescribed dates, failing which late fee applies from the original due date until filing.

Director remuneration and GST liability depend on employment status and whether payment is salary or professional fees.
GST on director remuneration depends on whether the director is an employee and on the nature of the payment. Remuneration to independent directors or other non-employee directors is taxable as consideration for services outside Schedule III and is payable by the company under reverse charge. Where a director is also an employee, salary amounts recorded as salary and subjected to TDS under section 192 are not taxable under GST, while separately booked professional or technical subjected to section 194J are taxable on reverse charge basis.

Refund of Accumulated Input Tax Credit now limited to invoices reflected in supplier GSTR filing; imports, ISD and RCM unaffected.
Refund of accumulated Input Tax Credit shall be restricted to ITC supported by invoices the supplier has uploaded in FORM GSTR-1 and which are reflected in the applicant's FORM GSTR-2A; this modifies prior guidance allowing applicant-uploaded invoices. The circular expressly excludes ITC on imports, ISD invoices and inward supplies liable to Reverse Charge from this restriction, preserving their pre-existing refund treatment.

Due service of tax notices requires recorded recipient details, sequential substituted service, and reasoned ex parte assessments.
Due service of tax notices requires recorded particulars of the recipient and serving officer, use of the latest registered address, and a sequential process of registered post followed by affixation where service remains unsuccessful. Service following partition, dissolution, or business discontinuance must be made on the specified former responsible person, partner, member, or principal officer. Ex parte orders must record the service status of earlier notices, and assessment orders must be speaking orders explaining reasons for allowing or disallowing input tax.

Relaxation of charge filing timelines for CHG 1 and CHG 9 permits excluded COVID period reckoning and adjusted fee computation.
Temporary relief excludes the period from 1 March 2020 to 30 September 2020 (or from the charge date to 30 September 2020) from reckoning the statutory filing period for Form CHG-1 and Form CHG-9; if not filed within the excluded period counting resumes from 1 October 2020. Fee treatment: pre March charge filings on or before 30 September 2020 pay fees as on 29 February 2020, thereafter fees are computed by adding days from 1 October 2020 plus the period lapsed until 29 February 2020; post March charges filed before 30 September 2020 pay normal fees, otherwise counting for fees begins effectively from 1 October 2020. Certain filings are excluded from the Scheme.

GST on director's remuneration: non employee directors' fees taxable under reverse charge; salaries not taxable.
Remuneration to non employee directors, including independent directors, is taxable and the company must pay GST under reverse charge. For directors who are employees, amounts recorded as salaries (with TDS under salary provisions) fall outside GST by virtue of Schedule III, while amounts separately treated as professional or technical fees (with TDS under professional fees provisions) are taxable and subject to reverse charge by the company.

Refund of accumulated input tax credit restricted to invoices reflected in GSTR-2A; exceptions for imports, ISD and RCM.
Refund of accumulated Input Tax Credit is restricted to ITC supported by invoices uploaded by the supplier in FORM GSTR-1 and reflected in the recipient's FORM GSTR-2A; this modifies earlier guidance that allowed refunds based on missing invoices uploaded by the applicant. The restriction does not affect refund treatment of ITC on imports, credits from an Input Service Distributor, or inward supplies liable to the Reverse Charge Mechanism, which continue to be treated as before.

GST on director remuneration: non employee directors' fees taxable and company must discharge GST under reverse charge.
Remuneration paid to directors who are not employees, including independent directors, is taxable and the company must discharge GST on it under the reverse charge mechanism. For directors who are employees, amounts treated and recorded as salaries are outside GST under Schedule III, while amounts separately identified as professional or technical fees are taxable and chargeable to GST on the company under reverse charge.

Refund of accumulated Input Tax Credit restricted to invoices reflected in GSTR-2A; imports and RCM credits unaffected.
Refund of accumulated Input Tax Credit is limited to ITC supported by invoices uploaded by the supplier in FORM GSTR-1 and reflected in the applicant's FORM GSTR-2A; refunds based on invoices uploaded by the applicant with the claim are no longer admissible. This restriction does not alter refund treatment for ITC on imports, ISD credits, and inward supplies subject to the Reverse Charge Mechanism, which continue under the prior practice.

Insolvency GST registration procedures preserve existing compliant registrations while successor professionals require only authorised signatory updates.
Insolvency professionals need not obtain separate GST registration where the corporate debtor has filed all pre-appointment FORM GSTR-1 statements and FORM GSTR-3B returns under its existing registration. A replacement insolvency professional requires only amendment of authorised signatory details, not a new registration. COVID-19 extensions move the merchant exporter's applicable 90-day export condition and the due date for FORM GST ITC-04 for the quarter ending March 2020 to 30 June 2020.

GST compliance requirements govern credit-note adjustments, advance-tax refunds, LUT extension, TDS deposits, and refund application deadlines.
Cancelled service advances for which invoices were issued, and goods returned under tax invoices, require credit notes reported in the relevant return and tax-liability adjustment. Where no output liability exists, a refund claim may be filed through FORM GST RFD-01 under "Excess payment of tax, if any". Cancelled advances for which no invoice was issued require a refund voucher, and tax paid may be claimed through FORM GST RFD-01 under "Refund of excess payment of tax".

GST compliance relief preserves return due dates while conditionally reducing interest, waiving late fees, and extending specified filing deadlines.
GSTR-3B due dates for February, March and April 2020 remain unchanged, but interest and late-fee relief applies where returns and tax are furnished within prescribed timelines. Reduced or nil interest depends on the taxpayer's preceding-year aggregate turnover and timely filing; non-compliance attracts regular interest, late fee and potential penalty from the original due date. Late-fee waivers also apply to specified GSTR-1 filings. Input tax credit restriction under rule 36(4) is deferred for February through August 2020 and must be applied cumulatively in the September 2020 return. Specified returns, statements, e-way bills and statutory compliance periods receive separate extensions.

Correct GST Input Tax Credit reporting ensures proper IGST fund apportionment and requires amending prior returns where necessary.
Taxpayers must accurately report eligible ITC, reversals and ineligible ITC in Table 4 of GSTR-3B so GSTN settlement and IGST apportionment reflect true figures. Reversals under the applicable rules go in Table 4(B)(1), other reversals in 4(B)(2), total eligible ITC (including amounts subject to reversal but excluding ineligible credit) in 4(A), ineligible or blocked credits in 4(D), and Table 4(C) equals 4(A) minus 4(B). Prior omissions must be corrected in GSTR 9 or specified GSTR 3B periods as directed.

GST compliance extensions and conditional interest concessions govern pandemic-period return filings, input tax credit adjustments, and e-way bill validity.
FORM GSTR-3B due dates for February, March and April 2020 remain unchanged. Registered persons with aggregate turnover above Rs. 5 Crore receive nil interest for the first 15 days after the due date and interest at 9% per annum thereafter only if returns are furnished by 24 June 2020; otherwise, interest at 18% per annum applies from the original due date, with regular late fee and penalty liability. Registered persons with turnover up to Rs. 5 Crore receive nil interest if filing by prescribed dates, but otherwise face interest at 18% per annum, regular late fee and penalty liability.

GST on director remuneration: non employee director services and non salary fees attract tax on reverse charge.
Payments to directors who are not employees are taxable and must be discharged by the company on reverse charge; for director employees, amounts recorded as salary and subjected to salary TDS are excluded under Schedule III, whereas amounts recorded and taxed as professional or technical fees are taxable and subject to reverse charge by the company.

Accumulated input tax credit refunds require GSTR-2A reflected supplier invoices, while import, ISD and reverse-charge credits remain unaffected.
Refund of accumulated input tax credit is restricted to credit supported by supplier-uploaded invoices reflected in the applicant's FORM GSTR-2A. Credit relating to invoices not reflected in FORM GSTR-2A is not refundable merely on upload of invoice copies. The restriction does not affect input tax credit availed on import documents, Input Service Distributor invoices, or inward supplies liable to reverse charge; refund treatment for those credits continues unchanged.

Virtual meetings for EGMs extended to end of September, permitting VC/OAVM or postal ballot under existing rules.
Companies may continue to hold extraordinary general meetings (EGMs) through video conferencing (VC) or other audio visual means (OAVM), or transact eligible items through postal ballot, in accordance with the procedures and safeguards specified in General Circular No. 14/2020 and General Circular No. 17/2020; this permission is extended until 30th September, 2020 and all other requirements in those Circulars remain unchanged.

Audit of PPM compliance required annually, with findings reported to trustees, manager and SEBI within six months.
SEBI requires an annual Audit of PPM compliance at each financial year-end, with audit findings and corrective steps reported to the Trustee/Board/Designated Partners, the Manager's Board and SEBI within six months; AIFs that have not raised funds must instead submit a Chartered Accountant's certificate of no fund-raising within the same period. For 2019-20 the compliance deadline is December 31, 2020. Associations representing at least one-third of AIFs may notify Benchmarking Agencies for mandatory AIF benchmarking agreements, and the timeline for initial industry benchmarks and AIF performance-versus-benchmark reports is extended to October 1, 2020.