GST treatment for corporate insolvency: special registration, claim procedure, limited input tax credit and cash ledger refund.
Pre CIRP GST dues are treated as operational debt and coercive action is barred; tax officers must file claims before the insolvency forum. Registration of a corporate debtor under CIRP must not be cancelled and suspension or revocation of recent cancellations is permitted. The IRP/RP need not file pre CIRP returns but must obtain fresh registrations for the corporate debtor, file CIRP period returns and comply with GST obligations. A special procedure allows limited Input Tax Credit on invoices bearing the erstwhile GSTIN in the first return and permits refund of amounts deposited in the cash ledger during transition.

Apportionment of input tax credit: State-level asset ratios govern ITC transfer and Form GST ITC-02 filing procedures.
Clarification explains transfer and apportionment of input tax credit on business reorganisations under section 18(3) JGST Act and rule 41(1) JGST Rules: apportionment for demergers and similar partial transfers is to be computed at the State level for distinct registrations, using the value of entire assets specified in the demerger scheme; the asset-value ratio is taken as on the appointed date of demerger and applied to the transferor's unutilized ITC balance on the date of filing Form GST ITC-02. The ratio applies to the total ITC (CGST, SGST/UTGST, IGST and cess), and the transferor may distribute the transferable sum among tax heads subject to available balances. Form GST ITC-02 is required only where both transferor and transferee are registered in the State.

Appeal to Appellate Tribunal: time-limit runs from the date the President enters office, allowing filing when constituted.
Clarification instructs that appeals from adjudicating authorities must be pursued before the appointed appellate authorities without awaiting Tribunal constitution; appointments depend on the rank of the original authority. For appeals to the Appellate Tribunal, the limitation period runs from the later of communication of the appellate order or the date the President or State President of the Tribunal enters office, and appellate orders may note that appeals can be filed within that period.

Dividend suspension: banks barred from paying dividends from the most recent financial year's profits to conserve capital and support lending.
Banks are required to refrain from distributing dividends from the profits of the financial year ending March 31, 2020; the Reserve Bank directs that no dividend payment on equity shares be made from those profits so that banks conserve capital to absorb losses, strengthen balance sheets, and continue supporting lending to the real economy.

Vivad se Vishwas eligibility and computation rules clarified, fixing cut off status for appeals and modelling disputed tax allocation.
Clarifications explain that eligibility under the Direct Tax Vivad se Vishwas Act, 2020 is determined by the status of appeals, writs, arbitrations or statutory filings as on 31 January 2020, with specified exceptions; computation rules require inclusion of enhancement notices and additional grounds filed by that cut off, aggregation of repeated additions with the higher tax taken where applicable, and allocation of identifiable prepaid taxes to corresponding income while unidentifiable prepaid taxes are apportioned against remaining liabilities.

Delegated bank powers: AD banks may regularise direct dispatch, write offs and set offs of export receivables under conditions.
AD Category I banks are authorised to regularise direct dispatch of shipping documents irrespective of shipment value if export proceeds are realised, the exporter is a regular customer for at least six months, KYC/AML compliance is met and the bank is satisfied of bonafides. A revised write off regime sets cumulative ceilings for self write off and bank write off subject to aged outstanding, documentary proof of recovery efforts, specified hardship categories (with unlimited write off on evidence), reporting in EDPMS and audit checks. Set off of export receivables against import payables is permitted under supervised arrangements with enforceable agreements and strict compliance and reporting conditions. Refunds of export proceeds permitted with due diligence and evidence, including waiver of re import where goods were auctioned or destroyed.

Minimum vehicle inspection standards revised for Mobile Squad road checking, with zone-wise monthly targets updated for compliance.
Revised minimum monthly vehicle inspection standards for Mobile Squad road checking are prescribed by substituting the earlier zone-wise table. The amended norms require 1050 vehicle checks in specified high-priority zones, 750 in another set of zones, and 450 in the remaining listed zones. Mobile Squad units must ensure monthly inspection of goods-transporting vehicles according to these revised standards, while all other instructions in the earlier circular continue unchanged.

Salary TDS under section 192: CBDT explains 2020-21 slab rates, concessional taxation, and employer compliance duties.
Income-tax deduction at source from salaries during financial year 2020-21 under section 192 is governed by the normal slab rates and the concessional regime under section 115BAC, subject to the prescribed conditions for option, exemptions, deductions, surcharge, and health and education cess. The employer must compute estimated taxable salary, deduct tax at each payment, adjust excess or shortfall within the year, and follow the rules for multiple employers, foreign currency salary, perquisites, lower deduction certificates, and employee intimation for section 115BAC. The circular also sets out TDS compliance, Form 24Q, Form 16, PAN or Aadhaar and TAN requirements, and the evidentiary conditions for allowances, exemptions, and Chapter VI-A deductions.

Transfer and dematerialization of re-lodged physical shares: endorsed certificates retained and demat request required within specified validity period.
Upon processing a re-lodged transfer, the RTA retains the endorsed physical certificates and issues a Letter of Confirmation to the transferee with endorsement, folio, certificate and distinctive numbers. The transferee must present that Letter to a Depository Participant and submit a Dematerialization Request Form so the DP can process demat credit on the basis of the Letter. If the transferee does not submit a demat request within the letter's validity, the shares will be credited to the company's Suspense Escrow Demat Account. RTAs must notify depositories of any lock-in for processing as lock-in demat.

Special Notified Zone procedures enable import, sealed custody, viewing and re export of rough diamonds under Kimberley Process safeguards.
A Special Notified Zone (SNZ) at Gujarat Hira Bourse, Surat is designated as a Customs Area with M/S DGDC appointed custodian for import, viewing, trading and re export of rough diamonds. Imports must bear invoice, packing list, insurance and Kimberley Process Certificate; consignments are transshipped to SHB, examined and sealed by Customs, escorted to the SNZ strong room, and after viewing will be re sealed and either cleared by buyers via Bill of Entry or re exported under a shipping bill within specified timeframes, following Board Circular No. 53/2003 and related notifications.

Express Cargo Clearance System streamlines automated courier import export clearance under a risk based RMS with integrated screening.
The Public Notice mandates roll-out of the Express Cargo Clearance System (ECCS) at Ahmedabad Courier Terminal to automate filing, assessment, examination and clearance of courier consignments under the Customs Act and the Courier Regulations. It requires Authorized Couriers to file ECM I manifests and CSB/CBE electronic declarations, integrates barcode arrival/weight recording, X ray screening and RMS driven selection for examination, and prescribes procedures for suspicious consignments, amendments, bond management, online duty payment and limited manual clearance only in exceptional circumstances.

Deemed GST registration verification requires physical and financial checks, risk-based notices, and prevention of approval after failed Aadhaar authentication.
Deemed GST registrations involving non-opted or failed Aadhaar authentication require compulsory post-registration physical verification. Officers must verify declared business premises, operational capacity, ownership or lease documents, employees, identity details and bank KYC, and may undertake preliminary financial scrutiny of tax returns, linked bank accounts, capital sources and funding records. Risk-based notices may address return-filing discrepancies before cancellation proceedings are completed. Verification must be concluded within the stipulated period with weekly status reporting, and field formations must prevent deemed approval in such Aadhaar-authentication cases.

Compliance timeline extensions for regulated intermediaries permit delayed submission of audits and KYC uploads amid pandemic disruptions.
SEBI extended compliance timelines due to COVID 19: trading and clearing members received extensions to submit half year Internal Audit, System Audit and half year net worth certificates for the period ended September 30, 2020 (with deadlines in late December 2020 and specified items to January 31, 2021). Depository Participants received extensions for half year Internal Audit reports and annual systems audit to December 31, 2020; uploading client KYC to KRA had an exclusion period through December 31, 2020 plus a 15 day backlog clearance window.

Extension of filing deadline for CRA-4; last date deferred and additional fees relaxation retained, other requirements unchanged.
Extension of the filing deadline for CRA-4 by substituting the earlier last date with a later date, deferring the compliance cutoff. The amendment follows stakeholder representations and COVID-19 disruptions. All other procedural requirements and conditions of the earlier circular remain unchanged, and the prior easing of additional fee consequences for late filing continues. The change is effected with competent authority approval.

Designated port list updated: Hazira added for import of unshredded metallic scrap; no exceptions permitted.
Hazira Port is added to the list of designated ports in Para 2.54(d)(iv) of the Handbook of Procedure, 2015-2020, making import of unshredded metallic scrap and waste permissible only through the enumerated designated ports, with no exceptions allowed, including for EOUs and SEZs.

Quarterly Return Monthly Payment Scheme allows eligible taxpayers quarterly returns while maintaining monthly tax payment compliance and interest safeguards.
The Quarterly Return Monthly Payment Scheme permits eligible registered persons to furnish FORM GSTR-1 and FORM GSTR-3B quarterly while paying tax for the first two months through FORM GST PMT-06. Eligibility is restricted to persons within the prescribed aggregate-turnover threshold and ends from the succeeding quarter after the threshold is crossed. Monthly payment may follow the fixed-sum or self-assessment method. The Invoice Furnishing Facility is optional for reporting selected invoices in the first two months. Quarterly filing, interest on delayed payments or returns, and late fee for delayed quarterly compliance remain applicable.

SEZ approval conditions: extensions, shareholding and mergers approved subject to continuity, eligibility, tax disclosure and environmental compliance.
The Board approved one-year extensions of LoAs for specified SEZ units and granted approvals for name, shareholding, control changes, mergers and transfers subject to conditions requiring seamless continuity of SEZ activities, fulfilment of eligibility and security clearances, compliance with revenue/company/securities rules, immediate furnishing of full financial details to revenue authorities, preservation of Assessing Officer tax-assessment rights, and PAN/jurisdictional AO disclosure. Procurement of restricted items was ratified subject to use within SEZs and environmental compliance. Several appeals were rejected; two were remanded for further verification. Two FTWZ in-principle approvals were granted.

Post-registration verification required for deemed GST registrations where Aadhaar authentication is absent, enabling physical and financial scrutiny.
Deemed registrations where Aadhaar authentication was not opted for or failed must undergo compulsory post-registration verification including physical verification of principal and additional places, inspection of premises, verification of ownership/lease, employee records, Aadhaar and PAN, and bank KYC; supplemented by preliminary financial verification through income tax returns, bank account activity linked to registration, capital composition, audited balance sheets where available, and loan proposals, with FORM REG-17 notices usable in specified risk scenarios and cancellation proceedings initiated if registration appears not genuine.

Filing of creditor list on central electronic platform required to enhance transparency and enable stakeholder claim verification.
The circular requires the interim resolution professional or resolution professional to file, maintain and update the list of creditors on the IBBI electronic platform under clause (ca) of sub regulation (2) of regulation 13 of the CIRP Regulations, 2016, for dissemination on the Board's website. The obligation applies to CIRPs ongoing as on 13 November 2020 and to those commencing thereafter. The Board's website provides for multiple filings and the circular annexes prescribed formats and category wise templates specifying identification, claim details, admitted amounts, security or guarantee coverage, related party status and voting share details.

Quarterly GST returns with monthly tax payments allow eligible small taxpayers to streamline compliance while retaining invoice reporting flexibility.
The Quarterly Return Monthly Payment Scheme allows eligible registered persons to file FORM GSTR-3B quarterly while depositing tax for the first two months through FORM GST PMT-06. Tax may be paid under the Fixed Sum Method or Self-Assessment Method, subject to available ledger balances. Outward supplies are reported quarterly in FORM GSTR-1, with an optional Invoice Furnishing Facility for selected invoices during the first two months. Timely fixed-sum deposits protect against interest on any monthly shortfall, provided the full quarterly liability is discharged by the return due date.