GST compliance for construction services: developers must pay tax on procurement shortfalls using the prescribed electronic form.
Tax liability arises where a promoter/developer fails to procure the prescribed portion of inputs and input services from a registered supplier for construction of residential apartments; such shortfalling value is taxable and must be paid electronically on the common portal using Form DRC-03 within the period prescribed for the quarter following the financial year.

Reduced GST interest rates and conditional late fee waivers extend relief for delayed GST returns under amended notifications.
The circular explains amended notifications that alter interest and late-fee relief for delayed GST returns: for taxpayers above the aggregate turnover threshold a brief nil-interest grace period is followed by a reduced interest rate until a cut-off date and then the normal rate; for taxpayers below the threshold extended nil-interest windows and a subsequent reduced rate apply until a later cut-off date. The waiver of late fee is conditional on filing FORM GSTR-3B by specified dates, otherwise late fee is payable from the original due date until filing.

Temporary relaxation in FPI document processing extended under regulatory authority; DDPs and custodians must notify clients.
Temporary relaxation in processing of documents pertaining to FPIs is extended to August 31, 2020, with all other terms and conditions of the March 30, 2020 circular remaining unchanged; DDPs and custodians are required to notify their FPI clients and to continue applying the authorized relaxed document acceptance and verification measures under the regulator's powers to protect investors and accommodate AML record keeping flexibility.

Defaulted debt securities: transactions permitted after issuer or debenture trustee intimation, with mandatory disclosure and timelines.
Issuers must promptly intimate payment status of debt securities; Stock Exchanges suspend trading two working days before redemption and Depositories restrict transfers on and after maturity until status is determined. If issuers do not notify, Debenture Trustees shall assess and report payment status within nine working days of maturity. Upon intimation of default, Depositories and Exchanges shall lift restrictions within two working days, flag the ISIN as "ISIN-defaulted in redemption," disseminate the status, permit reporting of OTC trades with explicit default warnings, and notify account holders of the defaulted status.

Paperless customs: Electronic Shipping Bill and eGatepass PDFs with secure QR verification replace routine physical printouts for exporters.
Directs exclusive electronic transmission of the PDF Final LEO copy of the Shipping Bill and the eGatepass to registered exporters and customs brokers, discontinuing routine printing and physical dockets. The Final LEO PDF will carry a digitally signed, encrypted QR code with key shipment details and a version number verifiable via ICETRAK and ICEGATE. The eGatepass PDF will include summary logistics details and separate QR codes for the document and for each container/package. All supporting export documents must be uploaded to eSanchit; exceptions for printouts require Principal Commissioner approval.

Paperless Customs: digital Shipping Bill and e-Gatepass PDFs with secure QR verification replace mandatory physical printouts for exporters.
Digital Final LEO PDFs and e-Gatepass PDFs will be electronically transmitted to registered exporters and customs brokers in place of routine printouts; the Final LEO PDF contains a digitally signed, encrypted QR code with key shipment details and a version number verifiable via ICETRAK and ICEGATE. e-Gatepass PDFs include document-level and container/package-level QR codes for movement verification. Custodians must register with ICEGATE to receive LEO messages. All supporting export documents must be uploaded to eSanchit, and exceptional printouts require Commissioner-level approval.

Paperless customs: electronic PDF Final LEO and e-Gatepass with secure QR verification replace printed shipping documents.
With effect from 22.06.2020 the digital PDF of the Final Let Export Order (LEO) copy of the Shipping Bill will be electronically sent to registered exporters and brokers, replacing printed exporter copies and physical dockets; the PDF will include a digitally signed, encrypted QR code with key shipping details and a version number to verify authenticity and recency, and custodians integrated with ICEGATE will receive LEO messages.

Paperless customs: electronic PDF Shipping Bill and e Gatepass with verifiable QR codes replacing physical printouts for export movement.
Paperless Customs requires electronic transmission of the PDF Final LEO of the Shipping Bill and the e-Gatepass to registered exporters, customs brokers and integrated custodians, replacing routine printing and physical dockets. The Final LEO PDF will bear a digitally signed, encrypted QR code and a version number for authenticity and currentness verification via the designated app and ICEGATE. The e-Gatepass PDF will include logistics summaries and two QR code types (document-level and container/package-level) to control movement; custodians must integrate with ICEGATE and all supporting documents must be uploaded electronically.

Virtual unitholder meetings permitted; framework ensures two-way participation, remote e-voting, transcript publication and safeguards.
InvITs and REITs may hold unitholder meetings via video conferencing or other audio visual means under a specified procedural framework: maintain and upload meeting transcripts; ensure two way participation with capacity for at least one thousand unitholders or actual unitholder count; provide remote e voting before the meeting and e voting during the meeting for eligible present unitholders; chairperson to record that reasonable efforts were made to enable participation; at least one independent director and the auditor or authorised representative must attend; notices must disclose access instructions, e voting procedures for unregistered email holders, helpline details, and be posted on the InvIT/REIT website and stock exchanges where listed.

Transitional input tax credit: statutory concession subject to prescribed time and manner; limited portal error relief via IT grievance process.
The GST Policy Wing directs field formations to adopt its consolidated position that transitional CENVAT/input tax credit is a statutory concession subject to prescribed time and manner; Rule 117 and Rule 120A are valid rule making exercises under the CGST Act; limited relief for non filing due to portal technical difficulties is available through the IT Grievance Redressal mechanism based on system logs; cesses are not eligible for transition; and CVD/SAD paid on conditional imports are not admissible as input tax credit under Section 142(8)(a).

Cross-empowerment of tax officers confirms central and state officers may act as proper officers unless conditions are imposed.
Officers appointed under the State GST Acts and the Central GST Act are authorised to be proper officers for purposes of the respective Acts without a separate notification where no conditions are imposed; a notification is required only to specify conditions limiting or qualifying that cross-empowerment, and subordinate legislation can only impose such conditions, not expand the statutory authority.

Extension of counsel panel for indirect taxation maintains current standing counsels until a fresh panel is constituted.
The existing panel of Senior and Junior Standing Counsels for indirect taxation matters before High Courts and other fora is provisionally extended, with ministerial approval, for a short specified period pending constitution of a fresh panel; administrative units handling Central GST, Central Excise and Customs are notified to continue engagements under existing terms until the new panel is formed or the extension expires.

Input tax credit apportionment in business reorganisations follows State-level asset ratios and aggregate credit transfer through prescribed filing.
In a demerger, input tax credit is apportioned by the ratio of assets transferred to the assets of the relevant State-level unit, with all business assets included in asset value. The formula applies to aggregate unutilised credit, including central tax, State or Union territory tax, integrated tax and cess, and also extends to partial business transfers with liabilities. The asset ratio is determined on the appointed date of demerger and applied to the electronic credit ledger balance on the date FORM GST ITC-02 is filed.

GST appellate tribunal non-constitution permits appellate authorities to decide pending appeals, with tribunal limitation deferred until presidential appointment.
Appeals against adjudication orders under the BGST Act lie before the prescribed Appellate Authority. Non-constitution of the Appellate Tribunal does not justify keeping such appeals pending. Tribunal appeal limitation runs from the later of communication of the appellate order or the date on which the President or State President enters office. The applicable period is three months for an aggrieved person and six months for Government appeals. Appellate Authorities may record this position in their orders and should dispose of pending appeals expeditiously.

GST refund claims may span financial years, while ITC refunds require reflected invoices and preserve the original payment mode.
GST refund claims may club successive tax periods across different financial years where otherwise eligible. Accumulated ITC refund under the inverted duty structure is unavailable when input and output supplies are the same goods despite a later GST rate reduction. For tax refunds other than zero-rated supplies or deemed exports, cash-paid tax is refunded in cash and credit-ledger-paid tax is re-credited as ITC. Accumulated ITC refunds are restricted to supplier-uploaded invoices reflected in FORM GSTR-2A, and applicants must state invoice HSN/SAC details where applicable.

Digital Shipping Bill: electronic Final LEO and e-Gatepass PDFs with QR authentication replace printed shipping documents for exports.
Board directs that w.e.f. 22.06.2020 only the digital PDF copy of the Shipping Bill bearing the Final LEO will be electronically transmitted to registered customs brokers and exporters, discontinuing routine printing and physical docket retention. The electronic Final LEO includes a digitally signed, encrypted QR code with key shipment details and a version number for authenticity checks; custodians integrated with ICEGATE will receive LEO messages. Separately, the e-Gatepass PDF will be emailed to registered parties, use document- and container-level QR codes, and be generated at LEO or after receipt of container stuffing information as applicable.

Transhipment of export cargo via land customs stations continues under specified procedural framework, pending SCMTR implementation.
Transhipment of export cargo from Bangladesh via designated Land Customs Stations to specified ports and aircargo complexes continues under Circular 42/2018-Customs procedures for identified road and rail routes until the Sea Cargo Manifest and Transhipment Regulations are implemented, after which SCMTR procedure will apply. An additional Petrapole-to-Delhi Air Cargo road route is authorized under the same procedure. SCMTR prescribes a transhipment form, mandates carrier track-and-trace and sealing obligations for land transhipment, and carriers may use the existing Electronic Cargo Tracking System and ECTS seals provided under a pilot program.

Preferential Certificate of Origin acceptance: electronic COOs may be used for exports to Vietnam; printed signed copies available on request.
Issuance of Preferential Certificates of Origin for exports to Vietnam under the ASEAN India FTA permits an electronic copy bearing the officer's image signature and issuing agency stamp for immediate clearance; the system will also generate the set of four printed copies. COO applications (except for Thailand) must be submitted via the e COO Platform to designated issuing agencies, which will issue COOs online and provide printed, stamped, wet ink signed copies on request; physical applications will not be accepted after the transition date, though prior manual applications may be issued.

Extension of compliance timelines for intermediaries extends multiple reporting and certification deadlines and limited exemptions.
SEBI extends timelines for compliance by trading members, clearing members and depository participants: key reporting and certification obligations - including client funding reporting, AI/ML reporting, margin trading compliance certificates, internal audit and net worth certificates, call recordings, enhanced supervision submissions and KYC uploads to KRA systems - are deferred, generally to July 31, 2020; PAN updates for key personnel are allowed three months from the due date. Other conditions of the prior circulars continue to apply and exchanges, clearing corporations and depositories must disseminate these extensions.

Ports of Call designation expands notified inland water routes and adds specific ports for customs transit.
Declaration adds Sonamura and Jogigopha as Ports of Call and Badarpur as an Extended Port of Call under the Protocol on Inland Water Transit and Trade, revises the Protocol route matrix to include these ports across specified route segments, and furnishes the consolidated list of bilateral Ports of Call and Extended Ports of Call under Article 11, indicating the locations where customs formalities for PIWT&T traffic may be processed.