Undertaking in lieu of bond extended; submit via registered IEC email and e Sanchit, replace with proper bond before deadline.
Acceptance of an undertaking in lieu of bond for customs clearance is extended and remains subject to review; customs formations must record cases of relaxation. The undertaking must be submitted from the registered email ID of the IEC holder or their authorised customs broker and uploaded to e-Sanchit. Importers/exporters availing the facility must replace the undertaking with a proper bond before the stipulated cut-off and comply with all other conditions of the earlier public notice.

IGST refunds: SB005 correction extended for shipping bills up to year-end to unblock automated refund processing.
Extension of the SB005 error correction facility in the Customs EDI system is authorized to address invoice mismatches that block automated IGST refunds for export shipping bills. Due to persistent mismatches and COVID 19 related hardships, the correction facility is extended to cover shipping bills dated up to the end of 2019; affected bills are published on the Custom House website and stakeholders must report implementation difficulties to the Deputy Commissioner of Customs (IGST Refunds).

Electronic sealing implementation deferred; new commencement date set and stakeholders directed to publicize and comply.
The operative commencement date for electronic sealing procedures for deposit and removal of goods from Custom Bonded Warehouses is deferred by amendment to the earlier Public Notice; all other provisions of that Public Notice remain unchanged. Trade stakeholders are directed to publicize the amendment and departmental officers must treat it as a Standing Order. Difficulties should be reported to the Additional Commissioner of Customs (Technical).

Undertaking in lieu of bond extended, permitting temporary customs clearance without bond and deferring bond submission.
Temporary acceptance of an undertaking in lieu of bond for customs clearance under Section 143AA is extended until 15.05.2020, with the deadline for submission of the proper bond deferred until 30.05.2020; undertakings must be submitted from the registered IEC email or authorised broker and may also be uploaded on e-sanchit; other conditions remain unchanged and the measure will be reviewed at the end of the lockdown.

Undertaking in lieu of bond extended for lockdown relief; formal bond submission deferred and electronic filing permitted.
Temporary acceptance of a undertaking in lieu of bond for customs clearance during the lockdown is extended, with formal bond submission deferred until after the relief period; undertakings must be submitted from the registered email ID of the IEC holder or authorised broker and may also be uploaded on the electronic record system, while other conditions of the original circular remain in force.

Electronic sealing implementation deferred, stakeholders to note postponement and treat the notice as an operational standing order.
Implementation of the electronic sealing requirement for deposit in and removal of goods from Customs bonded warehouses, as prescribed in Circular No. 10/2020-Customs, is deferred in response to representations from e-seal vendors; the Board has set a new commencement date for the circular and directs stakeholders to treat this Public Notice as a standing order for officers, with an invitation to report implementation difficulties to the issuing office.

Undertaking in lieu of bond extended for customs clearance, with email submission and e Sanchit upload requirements.
Acceptance of an undertaking in lieu of bond for customs clearance under the earlier circular is extended until 15.05.2020, with the deadline for filing the formal bond likewise extended. The undertaking must be submitted by the registered email of the IEC holder or their authorised customs broker, and zones may additionally require uploading the undertaking on e Sanchit. All other conditions of the prior circular remain in force and the measure will be reviewed by the Board at the end of the lockdown.

Undertaking in lieu of bond extended during lockdown; formal bond submission deferred, email and e Sanchit submission permitted.
Acceptance of an undertaking in lieu of bond for customs clearance is extended until 15.05.2020, with the deadline for submission of the proper bond deferred until 30.05.2020. The undertaking must be submitted from the registered email ID of the IEC holder or their authorised customs broker; customs zones may also require uploading on e Sanchit. All other conditions of the prior circular continue, the extension will be reviewed after the lockdown, and implementation issues should be reported to designated appraisement officers.

Drawback claim compliance requires exporters to submit authenticated query replies via EDI and authorized email to enable processing.
Exporters must track Shipping Bill status and submit query responses in the EDI system; a scanned reply on company letterhead, authenticated by an authorized signatory and sent from the exporter's authorised email (as registered with DGMP) must be emailed to [email protected]. Processing of drawback claims will proceed only after the exporter files the reply in EDI. A contact is provided for difficulties to facilitate liquidation of pending claims.

Vivad se Vishwas settlement permits final resolution of pending income tax disputes through declaration and prescribed payment.
The Direct Tax Vivad Se Vishwas Act, 2020 enables final settlement of specified pending income tax disputes by filing a declaration and paying an amount determined by the Designated Authority; covered matters include appeals, writs, SLPs, DRP proceedings, revision applications and arbitrations where total income is determined, subject to exclusions for certain AAR matters, search related thresholds and instituted prosecutions. The DA computes disputed tax, credits prior payments, issues a certificate, and upon payment the DA's order waives specified interest and penalties and bars further proceedings in respect of the settled tax arrears.

Import quota allocation for peas and pulses limited to registered millers/refiners; online applications and port arrival deadlines enforced.
Imports of listed peas and pulses are permitted under an annual quota and limited to millers/refiners with their own refining/processing capacity; applicants must apply online using ANF-2M, submit a self certified capacity certificate issued by competent authorities (dated before the Trade Notice), pay application fees as prescribed, and observe the one application per IEC rule. Quota allocation is determined by the EFC based on refining capacity, quantity requested and applications received, with DGFT retaining allocation discretion; consignments must reach Indian ports by the fiscal year end and extensions will not be allowed.

Import restriction on pulses: quotas limit imports to designated millers/refiners and require procedural compliance.
Restriction on import of pulses establishes an annual quota regime permitting imports only to millers/refiners under DGFT procedure, with Exim-code based allocations and a subsequent notification that set Yellow Peas allocation to zero while assigning fixed quotas to Green Peas and Other Peas; the measure takes effect on publication in the official Gazette.

IGST refunds via SB005 alternate mechanism: stakeholders must consult the circular and avail provided relaxations.
Notification advises that CBIC Circular 22/2020 establishes an alternate mechanism for IGST refunds in SB005 and related relaxations; eligible importers, exporters, customs brokers and other stakeholders are directed to consult the circular and avail the relaxations, and to report any implementation difficulties to the Commissioner of Customs (Prev.) Jamnagar.

Clubbing of refund periods across financial years now permitted, allowing consolidated GST refund claims to be filed.
The circular removes the restriction on clubbing refund claims across financial years, permits aggregation of tax periods spanning successive years, and clarifies that refunds for accumulated ITC under inverted duty structure do not apply where input and output are the same goods/services taxed at different times. It requires refunds of tax paid on non-zero rated supplies to be paid proportionately according to original cash and credit debits, restricts ITC refund to invoices appearing in GSTR 2A, and amends Annexure B to require HSN/SAC codes for inward supplies.

GST compliance during insolvency clarifies registration, returns, ITC and moratorium effects for debtors under CIRP.
Pre CIRP GST liabilities are to be treated as operational debt and no coercive action is to be taken; tax authorities must file claims before the insolvency tribunal. The IRP/RP need not file returns for pre CIRP periods but must obtain new GST registration as a distinct person, file the first return covering liability to registration grant, and may claim input tax credit in that first return for supplies received since appointment bearing the erstwhile GSTIN subject to Chapter V conditions and specified exceptions. Cash ledger deposits made by IRP/RP during the transitional period are refundable even if returns were not filed.

Apportionment of input tax credit: asset-value ratio allocates unutilised GST credit at the state registration level.
Clarifies apportionment and transfer of input tax credit on business reorganisations: unutilised ITC may be transferred by filing FORM GST ITC-02; "value of assets" covers entire business assets. Apportionment by asset-value ratio applies to demergers and any partial business transfers, calculated at each distinct registration (state) level rather than all-India, and applies to the aggregate ITC including cess. The transferable ITC is computed on the transferor's electronic credit ledger balance as on filing date of FORM GST ITC-02; the asset ratio is taken as of the scheme's appointed date.

Appeal to Appellate Tribunal timing tied to the President's entry; appellate authorities should record and dispose pending appeals accordingly.
Clarification addresses appeals where further remedy is perceived as unavailable because the Appellate Tribunal has not been constituted and restates that appeals lie to prescribed Appellate Authorities per the statutory hierarchy. It explains that, under a Removal of Difficulties order, the limitation to file appeals to the Tribunal is computed from the date on which the President or State President of the Appellate Tribunal enters office, and directs appellate authorities to note this in orders and to dispose pending appeals without awaiting constitution of the Tribunal.

Regulatory timeline relaxations for compliance filings grant temporary non penal delay and limited extensions for member reporting obligations.
Specified reporting obligations under enhanced supervision-weekly client funds monitoring, monthly client and fund balance data, and daily margin trading reporting-are temporarily exempted from penal consequences until the moratorium date, while timelines for updating Income Tax Permanent Account Numbers of key management personnel and directors and for issuing the Annual Global Statement to clients are extended by one month; Stock Exchanges and Clearing Corporations must notify members and publish the relief, and the circular is issued under regulatory powers to protect investors and regulate markets.

Validity extension of regulatory observations and conditional issue-size flexibility now permitted to ease public offering processes.
SEBI grants one-time relief extending the validity of observations that expire between March and September 2020 by six months, subject to a lead manager undertaking confirming compliance with Schedule XVI when submitting an updated offer document. SEBI also permits adjustment of estimated fresh issue size by up to fifty percent without refiling the draft offer document, provided there is no change in the objects of the issue, the lead manager certifies compliance with Regulation 7(1)(e), and an addendum to the draft red herring prospectus is published.

Rights Issue Relaxation: temporary easing of eligibility, subscription and filing thresholds to facilitate fundraising.
Temporary relaxations permit issuers to use the fast track rights route with modified Regulation 99 criteria: shorter qualifying periods, lower financial thresholds, amended treatment of prior regulatory actions requiring disclosure in the letter of offer, settlement compliance, and restatement or disclosure of audit-qualified financials; minimum subscription rules are adjusted so issues subscribed between seventy-five and ninety percent qualify if specified utilization conditions are met, and the draft letter of offer filing threshold is raised while other eligibility and general conditions continue to apply.