Information sharing under section 138(1)(a): tax data to be furnished to the Ministry of MSME under MoU safeguards.
The Principal Director General of Income tax (Systems), New Delhi, is designated under section 138(1)(a) to furnish specified taxpayer information to the Ministry of MSME, limited to Schedule DPM (depreciation on plant and machinery) from ITR 3/5/6, sales/gross receipts from ITR 3/5/6, and gross turnover/gross receipts from ITR 4. A Memorandum of Understanding with the notified Ministry authority will govern mode of transfer, confidentiality, secure preservation, data weeding after use, and timelines, and a copy of the MoU must be sent to the issuing division for record.

Valuation requirement for Market Linked Debentures now mandates appointment of an AMFI appointed valuation agency for issuer compliance.
Valuation of Market Linked Debentures must be carried out by an AMFI appointed valuation agency; issuers are required to appoint such a third party valuation agency, modifying paragraph 4(f)(i) of the MLD guidelines to replace the previous Credit Rating Agency valuation requirement in light of restrictions on CRA activities.

Turant Suvidha Kendra to centralise customs support functions, enabling contactless faceless assessment and trade facilitation.
Establishment of Turant Suvidha Kendras at each Customs station to operationalise contactless customs measures and support Faceless Assessment by accepting bonds or bank guarantees, conducting verifications referred by faceless assessment groups, defacing and debiting documents or permits, and performing other Commissioner-determined trade facilitation functions; each Kendra to be headed by the AC/DC with specified Superintendent/Appraiser and Inspector/Examiner staffing and a register maintained for monitoring and reporting.

GST treatment of liquor licence fees: State grants are excluded, while other licensed privileges remain taxable.
Government services supplied to business entities for consideration, including grants of licences and privileges, are generally taxable under GST through reverse charge. State Government grants of licences for alcoholic liquor for human consumption against licence or application fees are, however, treated as neither a supply of goods nor a supply of services. The corresponding pre-GST service was exempted from Service Tax for the relevant period. This special dispensation is limited to alcoholic liquor licences and does not apply to other fee-based licences or privileges.

One-time verification relaxation allows late ITR-V or EVC/OTP verification to regularize affected electronic returns before consequences apply.
One-time relaxation permits electronically uploaded returns for assessment years 2015-16 to 2019-20 that remained unverified due to non-filing of ITR-V to be verified by sending a signed ITR-V by speed post or by EVC/OTP modes (Aadhaar OTP, net-banking, EVC via bank account, demat account, or ATM) by 30.09.2020; exclusions apply where other statutory measures were taken. Such regularized returns shall be processed and intimation issued by 31.12.2020, with refund interest governed by the applicable interest provision; failure to regularize may attract consequences for non-filing/unverified returns.

Commodity derivatives market rules consolidated: trading, product eligibility, risk management, position limits and disclosure regimes.
SEBI's Master Circular consolidates commodity derivatives circulars and prescribes operational rules (trading hours, transaction charges, spot price polling, UCC/PAN, client code modification), product governance (eligibility, oversight committees, product reviews), market integrity and risk management (DPLs, position limits, hedge policies, LES, margining and SGF), participant conditions (mutual funds, AIFs, EFEs, PMS), warehousing and delivery norms, and technology, surveillance and cyber resilience requirements, while noting original circulars prevail on inconsistency.

Contactless Customs: Turant Suvidha Kendra and ICEGATE upgrades streamline electronic document verification, registration and automated bond debit.
Extension of Turant Suvidha Kendra to all customs formations requires document verification to be based on e Sanchit uploads, with physical submission only at TSKs in exceptional cases; ICEGATE now enables online registration/modification of Authorised Dealer codes and bank accounts with electronic submission of supporting documents, mandates same day approval where complete, and ICES will automatically debit bonds after assessment when bond details are provided at Bill of Entry submission.

Contactless Customs measures enable online bank account registration and ICEGATE workflows to avoid physical document submission.
ICES Advisory 25/2020 enables exporters to request online registration or modification of AD Code and bank account details via ICEGATE, upload supporting documents to e Sanchit, and have those requests presented to Customs officers in ICES for electronic approval or rejection. The system preserves physical inspection only for documents requiring defacement, with the TSK_OFF role and defacement confirmation recorded in the database to support faceless assessment workflows.

Rectification of SBOOI error required to clear IGST refund delays; exporters must amend GSTR 1 via Form 9A.
IGST refunds at Custom House Mundra are pending due to SBOOI errors caused by mismatches between shipping bill details in GSTR 1/6A and Customs ICES. Exporters should amend GSTR 1 using Form 9A via the GST Common Portal to rectify clerical errors; a list of affected shipping bills is available on the Mundra Customs website and exporters must correct entries by the stated deadline to facilitate refund processing.

Blended edible vegetable oils cannot be imported without AGMARK certification and must meet FSSAI import requirements.
Imports of Blended Edible Vegetable Oils (BEVO) are prohibited without AGMARK certification; BEVO must comply with FSS Act packaging and labelling requirements (sealed, tamper proof packages sold as "Blended Edible Vegetable Oil" with AGMARK label declarations) and clearance at points of entry must follow FSS (Import) Regulations, 2017.

Import of milk and milk products: one-time AQCS clearance allowed for certain consignments lacking veterinary certificate, subject to sanitary certification.
Imports of milk and milk products must be accompanied by an official Veterinary Health Certificate conforming with FSSAI Regulations, specifying sanitary, processing and residue requirements; as a one time COVID 19 related measure DAHD authorised AQCS clearance for certain eligible dairy consignments lacking that certificate (with date of lading on or before 30.04.2020) subject to sanitary and hygienic certification, and directed quarantine officers to examine consignments, sample products and take action at the importer's cost for non conformity.

Relaxation of processing time limits allows time-barred valid returns with refund claims to be processed subject to administrative approval.
Validly filed returns up to assessment year 2017-18 with refund claims that remained unprocessed under section 143(1) and became time-barred due to reasons not attributable to the assessee may be processed in non-scrutiny cases subject to prior administrative approval of the Principal CCIT/CCIT; following approval the Principal CIT/CIT shall request the Principal DGIT(Systems) to enable the Assessing Officer so that intimation under section 143(1) can be issued and consequent refund procedures can follow.

Harmonization of MEIS Schedule aligns export incentive entries with updated trade classification, altering eligibility and rates.
The Directorate General of Foreign Trade harmonizes the MEIS schedule with ITC(HS) 2017 effective 01.01.2020 by adding specified tariff entries with stated incentive rates for exports from that date, declaring a set of prior codes as ceased with nil benefit, and amending descriptions of certain MEIS entries to reflect revised nomenclature; exporters must apply the new codes, rates, zeroed entries, and amended descriptions for exports made with effect from 01.01.2020.

Shareholding limits for IFSC stock exchanges tightened; parent exchanges must retain majority ownership and certain entities need board approval.
An amendment requires that any Indian or foreign recognised stock exchange may form a subsidiary to operate in an IFSC with the parent exchange retaining majority paid-up equity; remaining equity may be offered to others subject to limits on individual or concerted holdings and applicable law. Certain market and financial institutions may acquire larger stakes only with prior approval of the Board, and recognised exchanges must comply with Regulation 19 and Regulation 20 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018.

Contactless customs reform: Turant Customs enables electronic document submission, same-day approvals and automated bond debit for traders.
A contactless, faceless and paperless Customs framework requires establishment of Turant Suvidha Kendras at all Customs formations for single-point document handling with electronic verification via e-Sanchit and limited physical submission; ICEGATE enhancements permit online registration/modification of Authorised Dealer codes and bank accounts with same-day Customs approvals, automated bond debit after assessment when bond details are supplied, and simplified importer/exporter registration linked to GSTIN to expand access to portal services.

GST filing relief revises interest periods and makes late-fee waiver conditional on timely return furnishing.
COVID-19 GST relief measures revise the interest and late-fee treatment for delayed FORM GSTR-3B and FORM GSTR-1 filings. Eligible delayed filings receive nil interest for notified periods, reduced interest for subsequent specified periods, and normal interest thereafter, with calculation based on the portion of delay within each applicable period. For small taxpayers, the reduced-interest relief extends to additional tax periods. Late-fee waiver for FORM GSTR-3B remains conditional on filing by notified dates; otherwise, late fee runs from the original due date until filing.

Detention and seizure procedure for goods in transit: online, time bound steps for inspection, demand, provisional release and seizure.
This circular prescribes an online, time bound procedure for detention, inspection, release, provisional release, demand for tax and penalty, payment, and seizure of goods and vehicles during transit for alleged violations of the State GST Act and Rules. It mandates use of specified online MOV and DRC forms for case registration, inspection summaries, release orders, notices of demand, provisional release on security, electronic ledger debit for payments, and seizure actions, and requires suo moto registration where a liable person is unregistered; proceeds from disposal are to be applied against outstanding dues.

Turant Suvidha Kendra centralises customs trade facilitation through a single-point interface, defined procedures, staffing, and operational monitoring.
Turant Suvidha Kendra is to be established as a single-point trade interface under the Trade Facilitation Cell within centralised and other sections. A committee of Commissioners must determine procedures for location, document handling and electronic maintenance, functions, staffing and training. Commissioner of Customs, Nhava Sheva-III must specify the Kendra's functions, location, timings, contacts and staffing, guide importers and Customs Brokers, issue staff directions, and monitor operational efficiency. Staffing changes require competent-authority approval.

Contactless customs modernization enables faceless, paperless procedures to speed clearances and reduce physical contact for exporters.
Turant Suvidha Kendras (TSKs) are extended to all Customs formations as single point interfaces for phased pan India Faceless Assessment, relying on documents uploaded to e Sanchit for assessment and Customs Compliance Verification and restricting any exceptional physical submission to TSKs. ICEGATE enhancements permit online registration/modification of Authorised Dealer codes and bank accounts with electronic submission of passbook or bank authorisation, same day processing if complete, automated bond debit in ICES when bond details accompany the Bill of Entry, and simplified ICEGATE registration tied to GSTIN verification to enable access to portal functionalities.

Faceless, contactless customs reform expands Turant Suvidha Kendras and digitises AD registration, bond debit and ICEGATE access.
Instituting a technology driven, Faceless, Contactless and Paperless customs regime by extending Turant Suvidha Kendra (TSK) to all formations, mandating electronic document submission via e Sanchit with physical submissions restricted to exceptional validation at TSKs, enabling online AD code and bank account registration through ICEGATE with same day approval when complete, automating bond debit after assessment if bond details are provided, and encouraging simplified ICEGATE registration for importers/exporters to access portal functionalities.