Input tax credit apportionment: asset ratio at State registration determines transferable ITC applied to ledger balance on filing.
Clarification requires apportionment of unutilized input tax credit under rule 41(1) to be based on the value of assets at the State registration level; Form GST ITC 02 is to be filed only in States where both transferor and transferee are registered. The asset value ratio (taken as of the scheme's appointed date) is applied to the transferor's ITC balance as on the date of filing ITC 02, and the ratio is applied to the total ITC (sum of CGST, SGST/UTGST, IGST and cess) with allocation across tax heads permitted within available balances.

Extension of Handbook validity and automatic six-month extensions for export authorisations and filing deadlines to ease compliance.
The Director General of Foreign Trade extended the Handbook of Procedures 2015-2020 to 31 March 2021 and introduced targeted temporal relaxations: substituted expiry dates and new deeming provisions, automatic six-month extensions for import validity and export obligation periods for specified authorisations, extension of filing deadlines for claims and reports, and aligned appendix/form deadlines; certain repatriation periods remain subject to central bank guidelines.

Refund claims clubbing across financial years now allowed, with refunds apportioned by original cash and credit payment modes.
The circular removes the restriction on clubbing refund claims across financial years, clarifies that ITC accumulation from a later rate reduction on the same goods does not constitute inverted duty structure for refund, and confirms refunds will be apportioned between cash and credit in the proportion originally used, with credit-portion re-credited to the electronic credit ledger. It limits refundable accumulated ITC to invoices uploaded by suppliers and reflected in FORM GSTR-2A, and requires HSN/SAC reporting in Annexure-B to identify capital goods and input services.

Regulatory filing deadline extension for alternative investment and venture capital funds granted, deferring specified periodic filings due to pandemic.
Extension of regulatory filing timelines for Alternative Investment Funds and Venture Capital Funds by two months for periodic filings due for the specified March and April 2020 periods, supplementing timelines under the AIF regulations and related circulars; relief takes immediate effect and is issued under the Board's statutory powers.

Portfolio Managers granted two month extension for specified reporting and applicability deadlines due to COVID 19 disruption.
SEBI extended timelines by two months for Portfolio Managers' monthly reporting for periods ending March 31, 2020 and April 30, 2020, and deferred applicability of the February 13, 2020 Guidelines for Portfolio Managers; the relaxation was issued under Section 11(1) of the SEBI Act, 1992 with immediate effect and the circular was later rescinded by a Master Circular dated July 16, 2025.

Temporary relaxation of FPI document processing permits scanned or encrypted submissions, subject to later original verification and reporting.
SEBI permits DDPs and Custodians to process FPI registrations, KYC and material changes on the basis of scanned signed documents and uncertified copies received from verified global custodian/client e mail accounts or encrypted/password protected new client e mails; such documents may be uploaded to KRAs and relied upon by intermediaries. Intermediaries must perform regulatory and risk based AML due diligence on scan copies. Originals and/or certified documents must be obtained after the temporary relaxation period, with account blocking and reporting consequences if documents are not furnished within prescribed follow up periods.

UPI ASBA continuation due to pandemic, implementation of next phase deferred pending stakeholder deliberations and SEBI guidance.
UPI ASBA Phase II is continued until further notice due to Covid 19 related operational constraints; advancement to Phase III is deferred pending stakeholder deliberations and notification of modalities. The circular is issued under the powers of section 11 read with section 11A of the SEBI Act and communicated to exchanges, intermediaries and the payments corporation.

Stewardship code extension delays compliance deadline for mutual funds and AIFs due to COVID-19 operational disruptions.
Extension of the implementation deadline for the Stewardship Code governing investments in listed equities by mutual funds and all categories of alternative investment funds is granted due to COVID-19-related operational constraints that impede monitoring and engagement with investee company management and boards. The postponement of the Code's effective date is issued pursuant to the regulator's statutory powers under the applicable fund regulatory framework and the circular directs stakeholders to the published notice for compliance reference.

Loan moratorium treatment: CRAs may forbear default recognition where delays stem solely from lockdown or moratorium.
SEBI permits CRAs, on a case by case assessment, to refrain from recognizing payment delays as default when delays arise solely from lockdown conditions or the RBI permitted moratorium, with such determinations disclosed in press releases; the relaxation also covers issuer rescheduling with investor/lender approval and remains effective for the moratorium period. SEBI further extends timelines for rating actions, press releases and website disclosures, requires best effort completion and ratification by the Rating Sub Committee, and allows an additional extension for annual and semi annual disclosures for the period ended March 2020.

Custodianship extension and expedited substitution of Bill of Entry permitted with post facto approval and email monitoring during pandemic.
Procedural facilitation permits substitution of Bill of Entry requests received by email or otherwise to be examined and permitted instantly by port deputy/assistant commissioners, subject to post facto approval by the proper officer; a register of such requests must be maintained and trade copies endorsed to the designated monitoring email, and these instructions operate as a Standing Order for officers and staff.

Customs facilitation measures: port clearance, BOE reprints and prepaid transshipment credits to reduce physical interactions during lockdown.
Customs permit temporary facilitation during lockdown: agents may seek Port Clearance by email with scanned documents; a Customs House service centre will enable print/reprint of Bills of Entry with a designated approving officer; transshipment fees may be prepaid as an agent-wise lump-sum credit to be adjusted against permissions. Emailed requests must include required attachments and contact details, and the measures are valid only for the lockdown period.

Duty roster requirement during lockdown: designate one data entry operator daily with listed contact for emergencies.
Designation of a Duty Roster requires nominated outsourced Data Entry Operators to attend the office on specified days during the COVID 19 lockdown, with each operator's contact provided; only one operator is to be present on any single day and telephonic contact is to be used for difficulties or emergencies, consistent with referenced administrative preventive advisories.

Waiver of late fee for specified import bills; email-based amendments and regularization permitted to ease clearance disruptions.
A temporary waiver of late fee is authorized for Bills of Entry related to import consignments arriving on or after 21.03.2020 and on or before 14.04.2020, so late filing for clearance in that period will not attract late fee charges. An email regularization procedure allows stakeholders to request amendments, waiver of late fee, and finalization of prior and advance Bills of Entry by submitting specified transactional details to designated port/ICD email IDs, with a copy to a central monitoring email; officers will process requests, communicate shortcomings, confirm regularization, and maintain printed records, and the notice is treated as a standing order for staff.

Section 49 facility permits temporary storage of entered imported goods in public warehouses to avoid container and custodian charges.
Importers unable to clear entered goods during the COVID-19 crisis may invoke the Section 49 facility to store imported goods in a public warehouse pending clearance or removal when the Deputy or Assistant Commissioner is satisfied that clearance cannot be effected within a reasonable time; this option is promoted to avoid container damage and custodian charges, may be granted for an initial storage period with a possible extension, and requires application by email to the Deputy Commissioner with specified contacts for assistance.

Amendment requests for Bills of Entry accepted by email; late fee waiver applications processed and monitored under customs procedure.
Email submissions of applications for amendment of Bills of Entry and for waiver of late fee are authorized during the COVID 19 period; emails are to be sent to the Deputy Commissioner's designated address, who will route matters to the concerned DC/AC for action and retention of hard copies. Copies must be endorsed to the Joint Commissioner for monitoring. Competent authorities will examine requests under the Customs Act and prescribed procedure and will communicate decisions by return email; these directions serve as a standing order for officers.

Waiver of late fee for delayed Bills of Entry permitted and regularization allowed via email procedure to facilitate clearance.
A temporary waiver of late fee charges is granted for Bills of Entry filed late for import consignments that arrived between 21.03.2020 and 14.04.2020; requests for amendment, waiver and regularization of prior and advance Bills of Entry may be made by email with required identifiers to the designated official address, will be processed by the Assistant or Deputy Commissioner on duty, shortcomings communicated by email, confirmations issued on regularization, records retained, and the procedure treated as a standing order.

Fully Accessible Route for non-resident investment in government securities opens specified tenors to non-residents alongside domestic investors.
Creation of a Fully Accessible Route permitting non-resident investors to purchase designated Central Government securities on the same basis as domestic investors; the Reserve Bank will notify which securities are specified securities, which once designated remain eligible under the FAR until maturity, and new issuances of specified tenors will be eligible with the Reserve Bank able to add or change tenors.

Track and Trace system implementation extended for pharmaceutical export packaging compliance and mandatory Central Portal uploads.
The Handbook of Procedure is amended to substitute the implementation date in Para 2.90A (vi) and (vii), extending the period for implementation of the Track and Trace system for export drug formulations. The extension covers maintenance of the Parent-Child relationship across packaging levels and required upload on the Central Portal, and applies to both small scale industry and non-small scale industry manufacturers.

Fully Accessible Route enables unrestricted non-resident investment in specified government securities and reporting obligations apply.
The Fully Accessible Route permits persons resident outside India to invest in Reserve Bank notified Government of India dated securities without quantitative limits, exempts such investments from specified limits in prior A.P. (DIR Series) circulars, and treats existing eligible holdings as FAR investments. FPIs, NRIs, OCIs and other permitted entities may invest under existing arrangements; other eligible investors may use International Central Securities Depositories as notified. FPIs must realign MTF investments within one year, and all FAR investments remain governed by FEMA and RBI directions.

FPI investment limit increase raises corporate bond ceiling while government security caps await separate notification.
FPI holdings in corporate bonds are increased to a ceiling of 15% of outstanding stock for FY 2020-21, with revised half yearly rounded limits specified for Apr-Sep 2020 and Oct 2020-Mar 2021. Revisions to limits for Central Government securities and State Development Loans will be advised separately and current limits remain applicable until then. Authorized Dealer Category I banks must notify their constituents; directions issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.