Resources for trustees compliance deferred; earlier trustee resource guidelines now applicable from January 1, 2021.
Compliance with prior guidelines on resources for trustees of mutual funds is deferred and shall apply from January 01, 2021; all substantive obligations and conditions of the August 10, 2020 circular remain unchanged. The circular emphasizes statutory authority to support investor protection and trustee governance standards applicable to Mutual Funds, Asset Management Companies, trustee companies and boards of trustees.

Client level segregation of advisory and distribution mandates single service choice within adviser groups and strict compliance obligations.
SEBI requires Investment Advisers to implement client-level segregation of advisory and distribution services within adviser groups using PAN as control, treat dependent family members as a single client where applicable, obtain annual auditor certification of segregation compliance, and advise direct (non commission) plans where available. Advisers must enter into prescribed written investment advisory agreements prior to rendering advice or charging fees, follow specified fee regimes under Assets under Advice or Fixed Fee modes with supporting documentation and restrictions, maintain verifiable client interaction records for prescribed retention periods, conduct annual compliance audits with reporting, and comply with registration, qualification, risk profiling and disclosure requirements within stated timelines.

System-Driven Disclosures require listed companies to provide promoter PANs to depositories, with prompt sharing and same-day updates.
Listed companies must provide PAN numbers of promoters, promoter group members, designated persons and directors to the designated depository in the prescribed format; for PAN exempt entities, investor demat account numbers are to be provided. The designated depository will share this information with the other depository. Listed companies must update the designated depository on the same day for any subsequent changes, and the designated depository will share incremental changes the same day. Other procedural requirements of the earlier SDD circular remain applicable.

PFMS account validation for drawback claims requires online bank-detail updates and e-Sanchit supporting documents before disbursement.
Pending drawback claims caused by PFMS account non-validation require exporters to verify the listed IECs and shipping bills reflecting undistributed amounts. Exporters must submit online requests through ICEGATE to register or modify AD code and bank account details, and electronically upload a passbook copy or bank authorisation letter through e-Sanchit. The ICEGATE dashboard enables monitoring of approval and PFMS acceptance status for rectification of deficiencies.

Customs drawbacks: pending claims to be processed; exporter replies and EGMs due by 02-11-2020 or claims decided on records.
A "Special Refund and Drawback Disposal Drive" mandates priority disposal of all refund/drawback claims pending as on 31-08-2020. Exporters/CHAs must reply to queries by 02-11-2020 or claims will be decided on available records; EGM non-filing and EGM errors must be rectified and BRCs produced by 02-11-2020 or claims processed at zero drawback with rights to file supplementary claims preserved. Approval for EGM error rectification is delegated to the EGM Superintendent, subject to random checks; affected lists are uploaded on the customs website and the Notice is a standing order for staff.

Gov.in email ID creation procedure for officers requires name-based applications, nodal approval, and duplicate ID deletion control.
Procedure is prescribed for creation of officers' gov.in email IDs through the NIC e-forms portal in two stages. Officers must complete the required organisational particulars, apply in the name-based format [email protected], verify that the ID has not already been created, and then obtain nodal approval through the pending request facility. The circular also requires zone-wise compilation of duplicate email IDs and submission of the deletion list for initiation of deletion action.

GST treatment during corporate insolvency separates pre-CIRP operational debt from fresh registration, compliance, credit, and refund obligations.
Pre-CIRP GST dues of a corporate debtor are operational debt to be claimed before the National Company Law Tribunal, and coercive recovery is barred during the moratorium. Registration should not ordinarily be cancelled, while the IRP or RP need not file pre-CIRP returns. During CIRP, fresh GST registration is required and the IRP or RP must meet tax and return obligations. Transitional input tax credit is available for eligible invoices bearing the former GSTIN, and cash-ledger deposits in the former registration may be refunded despite non-filing of relevant returns.

GST compliance relief during COVID-19 relaxed filing charges, interest, input-credit reconciliation, and deadline requirements for taxpayers.
For GSTR-3B returns for February, March and April 2020, original due dates remained unchanged, but eligible taxpayers received nil or reduced interest and waiver of late fee if returns were filed within stipulated timelines. Non-compliance with those timelines attracted interest at 18% from the original due date, regular late fee and potential penalty. Late fee relief applied to specified GSTR-1 filings, while the rule 36(4) input tax credit restriction was applied cumulatively through the September 2020 return. Specified returns, tax collection statements, e-way bills and other compliance actions also received extended timelines.

Insolvency GST registration compliance permits continuity for compliant corporate debtors and authorised-signatory changes when insolvency professionals are replaced.
Bihar GST compliance for insolvency proceedings permits corporate debtors with all pre-appointment FORM GSTR-1 statements and FORM GSTR-3B returns furnished to continue under their existing registration without separate IRP/RP registration. Replacement of an IRP/RP requires amendment of authorised signatory details rather than fresh registration. COVID-19 relief extends the merchant exporter's 90-day export condition, where it expired within the specified period, to 30 June 2020, and also extends filing of FORM GST ITC-04 for the March 2020 quarter to that date.

Accumulated ITC refunds remain available for imports, ISD invoices and reverse-charge supplies despite GSTR-2A invoice matching restrictions.
Refund of accumulated input tax credit for supplier invoices is restricted to credit supported by invoice details uploaded in FORM GSTR-1 and reflected in the applicant's FORM GSTR-2A. This restriction applies to missing supplier invoices and does not affect input tax credit availed on import documents, Input Service Distributor invoices, or inward supplies liable to reverse charge. Refund treatment for imports, ISD invoices and reverse-charge supplies continues on the basis applicable before the GSTR-2A reflection restriction.

GST return filing relief clarifies reduced interest periods and conditional late-fee waivers for delayed pandemic-period compliance.
GST compliance measures for specified 2020 periods prescribe turnover-based interest treatment for delayed GSTR-3B returns. Persons above the aggregate-turnover threshold receive nil interest for the first 15 days of delay, reduced interest up to 24 June 2020, and normal interest thereafter. Persons below the threshold receive nil interest until prescribed dates, reduced interest until 30 September 2020, and normal interest for further delay. Late-fee waiver for GSTR-3B remains conditional on filing by prescribed dates; otherwise, late fee runs from the original due date.

Director remuneration under GST depends on employment status, with non-salary payments attracting reverse charge liability for companies.
GST on directors' remuneration depends on whether the director acts as an employee or independently supplies services. Remuneration paid to independent directors and other non-employee directors is taxable, with the company liable under the reverse charge mechanism. For employee-directors, salary recorded in the company's books and subjected to tax deduction applicable to salaries falls within the employee-services exclusion in Schedule III. Separately recorded non-salary remuneration subjected to tax deduction applicable to professional or technical fees is taxable, and GST is payable by the company on reverse charge basis.

GST compliance relief clarifies credit notes, refund vouchers, LUT validity, TDS deposits, and refund deadlines during COVID-19 disruptions.
GST paid on cancelled service-contract advances is adjusted through a credit note where an invoice was issued; a separate refund claim is required only where no output tax liability is available for adjustment. Where no invoice was issued, a refund voucher must be issued and GST may be claimed through FORM GST RFD-01. Invoiced goods returned by recipients are similarly addressed through credit notes. COVID-19 compliance relief extended the deadline for furnishing the Letter of Undertaking, filing GSTR-7 and depositing deducted tax, and filing eligible refund applications to 30 June 2020.

Terminal Excise Duty refund and duty drawback claims require revised ANF 7A with specified invoices, DBK worksheets, and declarations.
Revised ANF 7A prescribes the application format and supporting documentation for Terminal Excise Duty refunds, Duty Drawback under AIR, and brand rate fixation under FTP 2015-2020. It requires applicant, bank, excise/customs jurisdiction details, invoice level supply data, DBK worksheets for inputs, declarations on CENVAT non availment, time bar and late cut particulars, and a checklist of attested invoices, B/Es, proof of payment, PAC/project documents and prescribed annexures for verification and processing.

Unit Quantity Code standardization: SBs must use prescribed UQCs; temporary relaxation allows license-SB UQC mismatch for legacy licenses.
Only prescribed Unit Quantity Codes (UQCs) are accepted in Bills of Entry and Shipping Bills, with Statistical Quantity Codes mandatory in item-level declarations. A temporary relaxation permits filing License Shipping Bills where the Shipping Bill item UQC (which must be a prescribed standard code) does not match the UQC recorded in an existing license; the license table should retain the license UQC while item declarations use standard UQCs.

Special warehouse manufacturing requires Section 58A/65 permission, bonds, digital records, security, and GST/duty compliance.
The circular sets the procedure for permitting manufacture and other operations in a special warehouse under Section 65, requiring an integrated application for Section 58A licence and Section 65 permission, execution of prescribed bond and bank guarantee, maintenance of digital, time stamped records per Annexure B, secure premises with CCTV and fire safety, customs verification and locking of the strong room, and specified tax treatment: exports require shipping bill and GST invoice with no import duty on incorporated goods, while domestic clearances attract GST/IGST and import duties via ex bond Bill of Entry.

Net cash tax liability interest applies administratively, while gross-tax interest notices remain on hold pending retrospective legislative amendment.
Interest under the Rajasthan GST law is directed to be recovered on the net cash tax liability for the period from 1 July 2017 to 31 August 2020. Net cash tax liability covers tax paid or payable through the electronic cash ledger. Show-cause notices seeking interest on gross tax payable are to be kept on hold pending retrospective amendment of the interest provision. Prescribed information on such notices must be collected and submitted, with strict compliance required.

GST verification of mining product transporters tightened through physical verification, return monitoring, and border road checks.
Inspection and verification measures were issued for vehicles transporting mining products into Uttar Pradesh, in view of reported use of fake receipts and false invoices to facilitate illegal entry of mining goods and evade GST. Registered dealers dealing in mining products are to be physically verified through the departmental Physical Verification App, and their returns are to be monitored regularly. Where documents produced by vehicles carrying mining products appear suspicious, legal action is to be taken in accordance with law, and the concerned section office as well as the Mining Department are to be informed.

Enforcement information exchange through the Alert System strengthens action on bogus invoices and inadmissible input tax credit.
Timely exchange of enforcement information and monitoring of follow-up action is prescribed for bogus or non-existent firms issuing tax invoices without actual supply of goods, leading to inadmissible Input Tax Credit. An Enforcement Alert System module has been created for prompt circulation of such information and tracking of action taken. Registered-dealer information within the State is to be made available directly to the concerned Proper Officer, who must take necessary action and update the record in the MS/SIB module on Vyavas Central.

Harmonization of MEIS schedule amends Table 2 of Appendix 3B, adding one HS code and deleting others.
The Director General of Foreign Trade amends Table 2 of Appendix 3B to harmonize the MEIS schedule with ITC(HS) 2017 and Finance (No.2) Act changes: adding ITC(HS) code 38249900 (Other) at an MEIS rate of 2, and deleting multiple specific MEIS entries corresponding to HS subheadings that ceased to exist, effective 01.01.2020, to align with Notification No. 38/2015-2020 and the Fifth Schedule revisions.