Quarterly return monthly payment scheme requires quarterly GST returns with monthly tax deposits, specifying eligibility and payment methods.
The QRMP Scheme allows eligible GSTINs (aggregate turnover up to five crore in the preceding year) to file returns quarterly while paying tax monthly in the first two months by either a portal-calculated fixed sum method or a self-assessment method. Outward supplies are reported quarterly in GSTR-1 with an optional Invoice Furnishing Facility for limited monthly invoice reporting to enable recipient ITC visibility. Monthly deposits are credited against the quarter's liability on filing FORM GSTR-3B; interest and late fees apply under prescribed conditions and timelines.

Inland Container Depots/CFS/AFS policy updates set zones, distance rules, minimum throughput and IMC approval process.
The guidelines establish a unified regulatory framework for setting up, notification and operation of ICDs, CFSs and AFSs, distinguishing ICDs as self contained customs stations and CFSs as customs areas linked to parent ports; prescribe geographical zoning, distance and throughput minima (7200 TEUs for ICDs; 1200 TEUs for CFSs), land ownership and entity eligibility; require DPR submission to CBIC with jurisdictional Commissioner feasibility review and IMC approval, LOI timelines and post approval obligations including bonds, HCCAR 2009 compliance, infrastructure, IT and annual audits, with powers for suspension, de notification and closure for non compliance or underperformance.

Sea cargo manifests now require ICEGATE registration and phased electronic filing of SAM, SDM, CSN and CIM within set timelines.
The Regulations require authorised carriers, agents, transhippers and notified parties to register on ICEGATE and submit electronic manifests and declarations-SAM, SEI, SDM, SDN, CSN and CIM-within prescribed timelines; introduce PCIN and MCIN for cargo identification; assign filing responsibilities among ASCs/ASAs, other carriers and ATPs; permit specified bond reductions and exemptions; allow phased transition and testing; and prescribe amendments protocols and penalties for non compliance.

Quarterly return with monthly payment scheme lets eligible small taxpayers file quarterly returns while paying tax monthly.
The QRMP scheme allows registered persons below the aggregate turnover threshold to file FORM GSTR-3B quarterly while making monthly tax payments for the first two months by either a system-derived fixed sum challan or by self-assessment in FORM GST PMT-06. Eligibility is GSTIN-wise, based on prior year turnover recorded on the portal, and loss of eligibility during a quarter takes effect from the next quarter. Optional Invoice Furnishing Facility permits selected invoice reporting in the first two months to reflect in recipient GSTR-2B; quarterly GSTR-1 and GSTR-3B filing obligations and interest and late fee rules apply as specified.

Interest relief for delayed GST returns provides phased nil and reduced rates, with late fee waiver conditional on notified filing dates.
Reduced rates of interest and conditional waiver of late fee apply to delayed GST returns for specified tax periods. For larger taxpayers a nil-interest initial window is followed by a reduced interest rate, reverting to the normal rate after the prescribed period; the circular provides illustrative day-wise calculations for GSTR-3B filings. For smaller taxpayers a nil-interest period until specified dates is followed by a reduced rate until a later cutoff, after which the standard rate applies. Waiver of late fee is conditional on filing by notified dates; otherwise late fee accrues from the original due date.

IRP and RP GST registration guidance: no fresh registration where prior returns filed and compliance deadlines extended.
Clarification extends the registration time-frame for IRP/RP and provides that IRP/RP need not obtain fresh registration when corporate debtor had filed all Form GSTR-1 and Form GSTR-3B returns prior to appointment and was not in default; subsequent changes in IRP/RP after initial registration are treated as changes of authorized signatory and may be effected by amendment. It also extends compliance deadlines falling within the COVID-19 relief window, including the merchant exporter export period condition and the filing date for Form GST ITC-04, to the relief cut-off date. The Circular is clarificatory and issued to ensure uniform implementation.

Extension of LLP settlement scheme: belated filings and delayed statement of account treated as compliant under revised applicability.
Extension of the LLP Settlement Scheme adjusts the applicability period so belated documents due for filing up to the substituted cutoff are covered by the scheme, while all other requirements remain unchanged. A statement of account and solvency signed beyond six months from the end of the financial year but within the substituted extended filing window shall not be deemed non-compliance.

Delegation of powers updated: assessment and recovery authorities reallocated among specified GST officers, altering appellate allocation.
Amendment revises the delegation Table of the earlier Order, assigning assessment of unregistered persons to Senior Joint Commissioner, Joint Commissioner, Deputy Commissioner and Assistant Commissioner; reallocating initiation and conduct of recovery proceedings and related functions to Additional Commissioner, Senior Joint Commissioner, Joint Commissioner, Deputy Commissioner and Assistant Commissioner; validating continuation of specified recovery proceedings; and substituting appellate authority allocation to Special Commissioner, Additional Commissioner, Senior Joint Commissioner and Joint Commissioner. The Order is made under sub section (3) of section 5 read with clause (91) of section 2 and is effective immediately except where otherwise stated.

Outsourcing obligations and liability: LPCCs may outsource core IT to clearing corporations but remain primarily liable for failures and continuity.
LPCCs may outsource core IT and operational activities to existing Clearing Corporations under comprehensive agreements that ensure redundancy, set selection criteria, define fees, and require service providers to meet regulatory and cybersecurity standards; the LPCC remains primarily responsible for risk management, clearing and settlement, dispute liability, business continuity, disaster recovery and must preserve regulator access while embedding indemnity and financial disincentives to prevent market disruption.

Investor grievance redressal mechanism enforces timelines, IGRC conciliation, and arbitration as escalation for unresolved complaints.
Investor grievance redressal mechanism requires Stock Exchanges to resolve investor complaints within prescribed timelines, seek additional information within seven working days, and record reasons for any delay. Service-related complaints are handled by the Exchange with escalation to the Investor Grievance Redressal Committee (IGRC) where complainants remain dissatisfied. IGRC has a 15-working-day conciliation period, extendable to an overall 30-working-day period if additional information is sought, must not dismiss complaints for lack of information or complexity, and may recommend admissible claim values which Exchanges must block from member deposits.

Liquidity requirement for open ended debt schemes imposes minimum liquid asset holdings and mandatory stress testing.
SEBI requires most open ended debt schemes to hold at least ten percent of net assets in liquid assets (cash, government securities, T bills, repo on government securities), excludes these holdings from scheme characteristic calculations, and mandates AMCs to restore such exposure before further investments if breached; additionally, all open ended debt schemes except overnight schemes must conduct stress testing under AMC stipulated guidelines, with a committee to review norms and methodology.

Flexi Cap Fund category introduced with equity investment floor, benchmark and naming requirements, and conversion conditions.
Introduction of the Flexi Cap Fund category requires a minimum investment in equity and equity related instruments of 65% of total assets; it is an open ended dynamic equity scheme investing across large cap, mid cap and small cap stocks. AMCs must adopt a suitable benchmark; scheme names must match the category for uniformity; existing schemes may be converted to this category subject to compliance with requirements for change in fundamental attributes under the mutual fund regulations. The category is effective from the date of the circular under SEBI's regulatory powers.

Overseas investment limits for mutual funds increased, with per fund and industry caps and monthly reporting required.
Mutual Funds may invest up to US$600 million per fund in overseas securities within a US$7 billion industry cap, and up to US$200 million per fund in overseas ETFs within a US$1 billion industry cap. US$50 million is reserved per Mutual Fund within the US$7 billion industry cap. NFOs must disclose intended overseas investment amounts in scheme documents, valid for six months from NFO closure, after which unutilised amounts revert to the industry pool. Ongoing schemes have a monthly headroom equal to 20% of the average AUM in overseas securities/ETFs for the preceding three calendar months. Monthly utilisation reporting is required within ten days of month end.

Revisional powers under the Uttar Pradesh GST law allow delegation, hearing, and correction of erroneous subordinate orders.
Revisional powers under section 108 of the Uttar Pradesh Goods and Services Tax Act, 2017 apply to erroneous subordinate orders prejudicial to revenue, including orders that are illegal, improper, or lacking material facts. The revisional authority may stay such order, afford an opportunity of hearing, and then enhance, modify, or annul the decision, subject to statutory conditions and limitations. The Commissioner, Commercial Tax, Uttar Pradesh was appointed as the revisional authority and was authorised to delegate revisional jurisdiction to subordinate officers over specified classes of orders.

TRAN-1 and TRAN-2 referral procedure governs appeal decisions, acceptance of court orders, and GSTN forwarding requirements.
Procedure for referring TRAN-1/TRAN-2 related cases to GSTN in compliance with judgments of the Hon'ble High Court or Hon'ble Supreme Court. Cases are examined by the concerned officers, routed through the Joint Commissioner and Zonal Additional Commissioner, and then either taken forward for appeal through the prescribed departmental procedure or accepted and forwarded in the prescribed format to the IT Section, Headquarters, for transmission to GSTN. Technical glitch cases received up to 31 March 2020 are to be forwarded to GSTN for ITGRC consideration under the GSTN SOP dated 12.04.2018.

Inland Container Depot approval policy updated: new geographic, distance, volume and compliance rules govern establishment and operation.
The circular prescribes a comprehensive approval and regulatory framework for ICDs/CFSs/AFSs: classification of facilities, a three-zone siting regime with distance and clustering limits, minimum throughput and land requirements, entity and experience criteria, and special dispensations for freight corridors and waterways. It mandates submission of a Detailed Project Report, jurisdictional Commissioner review, IMC consideration, issuance of a time-bound Letter of Intent, statutory notifications under customs law, and extensive post-approval compliance obligations including bonds, infrastructure standards under HCCAR 2009, IT, safety, reporting, audits and grounds for suspension or de-notification.

Line of Credit for reconstruction requires majority India sourced exports with EDF reporting and limited commission payment.
Exim Bank's Government of India supported Line of Credit for reconstruction finances exports of eligible goods and services from India, requiring at least 75 per cent of contract value be supplied from India and allowing up to 25 per cent procurement from outside. The LoC is effective from September 15, 2020 with a terminal utilization period of sixty months after scheduled completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may pay from own resources or EEFC balances after realization and subject to extant instructions; AD Category I banks must notify exporters and facilitate compliant remittances.

Rights issue by unlisted InvITs: framework for offering units to existing unitholders with prescribed approvals, disclosures and allotment rules.
Rights issue by unlisted InvITs permits offering units to existing unitholders only after investment manager board approval, issuance of the same class of units, and absence of disqualifying sponsor/trustee/manager conditions. The investment manager must determine and disclose the issue price before the record date, file and distribute a letter of offer with specified Schedule III disclosures, credit rights entitlements in demat accounts with renunciation rights, allot units in dematerialized form under prescribed priority and minimum allotment rules, and file an allotment report with the Board post-issue.

Rebate of State Levies converted to transferable electronic duty credit scrips usable for customs and central excise duty payment.
Pending claims under the Rebate of State Levies scheme will be settled by issuance of electronic duty credit scrips that are freely transferable and usable for payment of specified Customs and Central Excise duties; recoveries of any excess payments will be effected by the regional authority of the issuing agency and instances of misuse must be reported to the nominated nodal official as per the prescribed procedure.

Job work under Section 65: inputs may be sent out for processing with strict accounting, identity preservation and customs compliance.
Only inputs may be sent out from a Section 65 unit for job work; capital goods may be sent out only for repair with bond officer permission. Job work requires prior deposit and accounting of imported goods in the Section 65 premises, preservation of identity during processing, return or export/clearance in line with MOOWR procedures and GST timelines, and maintenance of prescribed records. The bond remains in force; violations will be deemed home consumption with duties, interest and penalties. Section 65 units may perform job work for others and may source goods from FTWZ/SEZ following applicable procedures.