Non-applicability of section 56(2)(viib) for DPIIT-recognized startups halts related tax demands and prescribes assessment process.
Consolidates CBDT guidance that DPIIT recognized startups with a filed Form No.2 are not subject to taxation of excess consideration as income under the equity premium rule; assessors must accept the assessee's contention in limited scrutiny, obtain supervisory approval before pursuing the issue in multi issue or non Form No.2 cases, and meet prescribed timelines. Past additions on this ground in earlier assessments should not be pressed on appeal where the declaration exists, related demands are not to be pursued absent appellate confirmation, and a Startup Cell is established for grievance redressal.

Deadline extension for client securities handling guidelines extends compliance timeline; exchanges and depositories must notify members.
Extension of the compliance timeline for handling of clients' securities by trading and clearing members: specified implementation dates in an earlier circular are amended to later dates, and stock exchanges, clearing corporations and depositories must notify and disseminate the revised deadlines to their members and publish the circular on their websites under the regulator's statutory regulatory powers to protect investor interests and regulate the securities market.

Drawback claims: unresponded queries may be processed as zero; exporters may file supplementary claims under Rule sixteen.
The notice directs exporters, CHAs and stakeholders to check drawback claim status on ICEGATE and submit required documents or clarifications when queries are raised; claims listed in the annex have not been replied to despite reminders and the responsibility to respond rests with exporters and intermediaries.

IGST refunds mechanism extended to cover export payment mismatches, requiring reconciliation and a Chartered Accountant certificate for verification.
The notice extends the interim verification mechanism for IGST refunds to additional shipping bills where IGST payment records were not transmitted to the customs system due to mismatches between GSTR 1 and GSTR 3B, applying the earlier circular mutatis mutandis. Exporters must compare cumulative IGST payments in GSTR 1 and GSTR 3B for the extended period and furnish a Chartered Accountant certificate confirming no discrepancy between IGST refunded on exports under the mechanism and the actual IGST paid. Difficulties may be reported to the Commissioner of Customs.

IGST export refunds: invoice-mismatch rectification mechanism extended to more shipping bills, enabling revised processing including compensation cess disbursal.
The notice extends the officer-interface alternate rectification mechanism for IGST export refunds to resolve invoice mismatches (SB005 error) for shipping bills filed up to 31.07.2019, applying the processing approach of Circular 40/2018 and related circulars and inviting trade participants to report implementation difficulties to the Commissioner of Customs (Chennai-IV).

IGST export refund mechanism extended to permit officer assisted rectification of invoice mismatches, including compensation cess disbursal.
SB005 invoice mismatch cases under CBIC circulars are now eligible for an alternate officer assisted rectification mechanism extended to shipping bills filed up to 31.07.2019; the procedure permits supervised resolution of invoice detail discrepancies between shipping bills and GST returns and provides for revised processing in specified cases including disbursal of compensation cess, with exporters advised to report difficulties to the Commissioner of Customs (Chennai IV).

IGST refund error rectification: special camp enables exporters to correct CSB005 and SB006 refund errors promptly.
A special camp at the Centralized Refund Cell, ICD CONCOR, Dhandari Kalan, Ludhiana will operate from 02.09.2019 to 06.09.2019 to rectify IGST refund claims stalled due to error codes CSB005 and SB006; exporters and representatives may attend the camp or seek rectification through the Deputy/Assistant Commissioner at their respective export sheds, with designated coordinating officers available to facilitate expedited processing and engagement with revised SB005 alternate mechanism and compensation cess disbursal procedures.

Lease period flexibility in SEZs allows state policy limits to determine tenure, removes uniform cap, mandates registered deeds.
Lease rights in SEZs remain tied to the validity of the Letter of Approval, and lease tenure for developers, co developers and units shall not exceed the period allowed by the respective State Government/Union Territory policy. The prior uniform lease ceiling is withdrawn, registered lease deeds are mandatory, and existing agreements based on the earlier tenure may be administratively amended or adjusted at renewal.

IGST export refund rectification facility extended to more shipping bills and revised processing including compensation cess disbursal.
Extension of the rectification facility for IGST export refunds permits exporters to correct invoice mismatches under the SB005 alternate mechanism with an officer interface, covering shipping bills filed up to 31.07.2019 and enabling officer-mediated resolution of discrepancies for affected refund claims.

IGST refund verification requires a CA certificate under the interim GSTR reconciliation procedure for export shipments.
Extension of the interim IGST reconciliation procedure in Circular 12/2018-Customs to shipping bills filed for April 2018-March 2019: exporters must reconcile cumulative IGST in GSTR-1 and GSTR-3B for that period and submit a Chartered Accountant certificate confirming no discrepancy between IGST refunded under the circular and actual IGST paid, to the Assistant Commissioner (IGST Refunds), Custom House Visakhapatnam, by the prescribed compliance date.

IGST refund verification: CBIC applies prior circular solution to affected shipping bills, requiring CA certificates.
The notice directs that the remedial procedure set out in the earlier circular be applied mutatis mutandis to affected export shipping bills where IGST payment mismatches occurred, and requires submission of Chartered Accountant certificates evidencing reconciliation as a condition for refund processing, with a prescribed deadline and an invitation to report implementation difficulties to the office.

IGST export refunds rectification enables one-time correction of invoice mismatches to permit sanction of differential refunds.
Extension of a one-time officer-mediated rectification facility permits exporters to correct invoice mismatches causing SB005 errors, enabling sanction of differential IGST refunds where refund scrolls differ from IGST actually paid; the Board's processing guidelines must be followed strictly and include provisions for disbursal of compensation cess.

Certificate of Origin authorisation expanded: two associations enlisted and an issuing agency's office address updated.
The Director General authorizes a change of office location for Indian Industries Association and enlists two associations as authorized issuers of Certificate of Origin (Non-Preferential) under Appendix 2E of the Foreign Trade Policy, thereby updating the Appendix and expanding agencies permitted to issue non-preferential certificates.

Common bond for export promotion imports allows single-bond coverage with progressive bank guarantees to streamline customs clearances.
Execution of a Common Bond allows an authorisation holder to cover all imports under specified Export Promotion schemes from any port with a single bond value set by the holder; exhausted bond amounts must be topped up at the port of execution. Required Bank Guarantees may be furnished progressively as imports occur and concessional duty benefits are availed.

No-incentive certificate requirement required on re-import to enable recovery of export incentives and prevent inadmissible duty credits.
Re-imported goods on which Chapter 3 FTP incentives were availed must be presented to Customs with a no-incentive certificate from the Regional Authority of DGFT; Customs must ensure this certificate before clearance. Field formations must review past re-imports and coordinate with DGFT to recover any inadmissible duty credit or reward amounts, and submit a compliance report to the Drawback Division by the specified deadline.

Customs Inland Manifest requirement: entities must apply via ICEGATE and obtain customs approval before using e-Seal export facility.
Shipping lines, shipping agents and exporters must submit a master application on the ICEGATE portal detailing the entity, authorised persons, intended operations and supporting documents; applications will be routed to ICES and reviewed by a jurisdictional customs officer using the newly created ENT-APR role to verify documents, approve or query applications before entities may operate under the new SCMTR e-seal export process.

Accurate import data required to determine correct duty classification and enable effective assessment and post clearance audit.
Importers and exporters must furnish accurate, specific and complete product and transaction data-description, brand, grade, model, specification, UQC, weight, country of origin and end use-to ensure correct classification, valuation and assessment. Customs officers are directed to enforce data quality, insert comprehensive examination comments, verify retail units or end use where duty treatment depends on those particulars, and treat this Public Notice as a standing order to support assessment and post clearance audit.

Invoice mismatch rectification extended for eligible shipping bills; outreach to exporters and revised IGST refund processing.
The officer assisted alternative mechanism to resolve invoice mismatches (SB005 error) for IGST export refund claims is extended to shipping bills filed up to 31.07.2019, applying the provisions of Circular 40/2018 Customs to these cases. Field formations must conduct outreach to ensure exporters follow the correct refund claim procedure, minimise repeat errors, implement revised processing including disbursal of compensation cess where applicable, and report difficulties to the Board.

IGST refunds verification mechanism extended to cover exporters with GSTR 1/GSTR 3B payment mismatches, requiring CA certification.
The circular applies the interim solution of Circular 12/2018 to Shipping Bills filed in April 2018-March 2019 where GSTN-to-Customs transmission failed due to payment mismatches between GSTR 1 and GSTR 3B. It requires comparison of cumulative IGST payments for that period as per earlier guidelines and mandates a Chartered Accountant certificate confirming no discrepancy between IGST refunded and IGST paid for exports; Customs zones must report GSTINs that do not submit the certificate and sensitize field formations and trade.

ITR filing: non-resident directors of foreign companies with no India nexus need not disclose directorship.
ITR forms require disclosure of directorship with company name, PAN, listing status and DIN; non-residents need not disclose directorship in a foreign company that has no income received in India or accruing or arising in India, while residents must disclose all directorships. Residents reporting foreign assets, signing authority or foreign income must complete Schedule FA, but only where the foreign assets were held both during the Indian previous year and during the foreign jurisdiction's relevant accounting period.