24x7 customs clearance mandated to address coronavirus related trade disruptions, with recordkeeping and late fee waivers for China delays.
24x7 Customs clearance is directed at all Customs formations, with Chief Commissioners to deploy sufficient officers and maintain station wise records of Bills of Entry/SBs filed beyond normal hours and report daily. CRCL laboratories will operate 24x7. Bills of Entry filed late for import consignments from China will not attract late fee charges where a letter from the importer or customs broker states the delay was due to non receipt of documents from China. The Public Notice is to be treated as a standing order and circulated to exporters/importers.

Automated clearance: system-driven CCV and OOC sequencing changes clearance flow to expedite BE movement upon payment integration.
Automated clearance of Bills of Entry applies at ICES locations with fully enabled RMS; designated Proper Officers perform Customs Compliance Verification (CCV) even if duty payment is pending. After goods registration and system checks, the officer completes CCV and records Out of Charge (OOC) in the system. BEs move to the CCV queue after OOC and will automatically proceed to the GAT queue once duty payment is integrated; BEs with duties already paid or deferred duty BEs proceed to GAT immediately upon OOC confirmation.

Automated clearance of bills of entry enables electronic release after compliance verification and duty payment.
Automated clearance in ICES will enable electronic release of Bills of Entry at RMS-enabled Customs EDI locations after designated proper officers complete Customs Compliance Verification (CCV) and the Customs System confirms payment of applicable duty. CCV is to be performed under the Customs Act, rules and instructions and may operate while payment is pending; clearance is effected electronically by the system following confirmation of CCV and duty payment.

Automated clearance: electronic release of bills of entry after CCV confirmation and duty payment nationwide.
Automated clearance of Bills of Entry is extended to all customs formations with an operational Customs EDI system where RMS is enabled. Designated proper officers will perform Customs Compliance Verification (CCV) and record CCV completion in the Customs System; CCV may occur while duty payment is pending. Once CCV is confirmed and applicable duty payment is confirmed, the Customs System will electronically grant clearance for the Bill of Entry. The facility is confined to ICES locations with fully functional RMS and implementation issues should be reported to Appraising Main officials.

Automated customs clearance: nationwide roll-out enables electronic clearance upon CCV confirmation and payment at EDI RMS locations
Nationwide automated clearance of Bills of Entry will apply at Customs EDI locations with operational RMS from 05.03.2020. Designated proper officers will perform Customs Compliance Verification (CCV) under existing law; CCV may proceed while duty payment is pending. Upon the officer's confirmation of CCV in the Customs System and recording of applicable duty payment, the system will electronically grant clearance. The Public Notice actions are to be treated as a Standing Order for customs officers and staff.

Automated clearance of Bills of Entry now enables CCV by customs officers and electronic release upon duty confirmation.
Automated clearance of Bills of Entry at Air Cargo Complex (Import) Commissionerate is implemented where the Customs EDI System is operational. Designated proper officers will perform all Customs Compliance Verification (CCV) requirements; CCV may occur while duty payment is pending. Once the proper officer confirms CCV completion in the Customs System and payment of applicable duty is confirmed, the System will electronically grant clearance to the Bill of Entry.

Valuation of second hand machinery: use transaction value if valid, otherwise apply residual methods and engineer appraisals.
Valuation of imported used capital goods relies on the transaction value where sale conditions are met; when pre import alterations or buyer incurred costs exist, those elements must be quantified. If transaction value conditions fail and comparable sales or computed cost data are unavailable for used machinery, the officer should apply alternative valuation methods sequentially and may use the residual method to account for condition, depreciation, refurbishment and related charges. Neutral inspection/appraisement reports in prescribed formats from overseas Chartered Engineers or locally empanelled engineers shall be used to ensure uniform, commercially realistic valuation.

Automated customs clearance enabled nationwide where EDI and RMS operate, with electronic clearance after officer CCV and duty payment.
All-India automated clearance for import Bills of Entry will operate at ICES locations with enabled RMS; designated proper officers perform Customs Compliance Verification irrespective of pending duty payment, record CCV completion in the Customs system, and the system issues electronic clearance upon confirmation of duty payment.

Automated customs clearance: electronic clearance of bills of entry on CCV completion and duty payment implemented nationwide.
Automated clearance under the 1st proviso to Section 47(1) enables the customs automated system to electronically clear Bills of Entry after designated proper officers complete Customs Compliance Verification and the system confirms duty payment; RMS-enabled ICES locations only, with DG Systems to implement necessary ICES changes and the facility effective from 05.03.2020.

Automated IGCR compliance requires electronic registration, continuity bonds, monthly statements, goods tracking, and timely duty payment for non-compliance.
Importers using the concessional duty procedure must register goods electronically in form IGCR-1, obtain an IGCR Identification Number, furnish a continuity bond, and quote the IIN and bond details in the bill of entry. Receipt, job-work, inter-unit transfer, re-export, and domestic clearance movements must be recorded through prescribed accounts, invoices or e-way bills, with non-receipt or short-receipt reported in form IGCR-2. Goods must generally be used within six months, while unutilized or defective goods may be re-exported or cleared on payment of differential duty and interest. A monthly statement in form IGCR-3 is due by the tenth day of the following month.

Appellate Authority designations under Rajasthan GST are revised through substitution of Special Commissioner and Additional Commissioner roles.
Appointment designations for the Appellate Authority under the Rajasthan Goods and Services Tax framework are amended by substituting "Special Commissioner" for "Additional Commissioner" and "Additional Commissioner" for "Joint Commissioner" in the earlier departmental order. The revised designations take effect from 20 February 2020.

Independent director liability limited to acts with knowledge, board attribution, consent or connivance; prosecutions require verification and sanction.
Independent directors and other non-promoter, non-KMP non-executive directors are liable only where defaults occurred with their knowledge, are attributable through Board processes, and involve their consent, connivance or lack of diligence. Registrars and investigators must verify records and e-forms to establish involvement, seek Ministry guidance when in doubt, and obtain Ministry sanction before initiating prosecutions; ongoing and already-filed cases not meeting these criteria must be reviewed accordingly.

Networth requirement for IFSC investment advisers revised; existing IFSC entities can register without forming a new company.
The networth threshold for registered Investment Advisers in the IFSC is revised to USD 700,000, and existing recognized entities in IFSC may apply for Investment Adviser registration without forming a separate company or LLP; the clarification is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and published on SEBI's website.

Import/export authorisation under export promotion schemes: ICD Palwal permitted for shipments subject to scheme conditions and procedures.
Permission is granted to permit import and export of permissible goods through Inland Container Depot, Palwal (INPWL6) under the referenced Export Promotion Schemes, subject to fulfilment of conditions in the cited Customs notifications and the Handbook of Procedure/Foreign Trade Policy 2015-2020 and departmental instructions; trade bodies and brokers are requested to publicize the Notice and the permission is time-limited.

Empanelment of Chartered Engineers for valuation of second-hand machinery under CBIC guidelines; certified applications invited.
Invitation for empanelment of chartered engineers to conduct valuation and appraisement of second hand machinery imported through Custom House, Kandla, pursuant to CBIC Circular No. 07/2020; applicants must be certified by the Institute of Chartered Engineers and submit required qualifications and documentation to the Principal Commissioner of Customs by the prescribed deadline.

Interest and penalty waiver scheme directed for outstanding tax demands, with online monitoring and wide trader outreach.
Interest and penalty waiver scheme was directed to be implemented for outstanding demands arising from orders passed up to 31.03.2019 under the Uttar Pradesh Trade Tax Act, Central Sales Tax Act, Entertainment Tax law and rules, Entry Tax Act, VAT Act, and the Cable Television Network regulations. Field officers were required to guide staff, publicise the scheme widely, and encourage trader participation. The circular also required priority record scrutiny, year-wise issue of no-dues certificates by the Assessing Authority, online implementation, and weekly portal-based monitoring and reporting of deposits and waivers.

Automated clearance: electronic release of import entries once CCV is confirmed and duty payment is recorded.
Automated clearance of import Bills of Entry is extended to all Customs EDI locations with RMS enabled; designated officers will perform Customs Compliance Verification which can occur before duty payment is complete. Clearance in the Customs System follows the officer's confirmation of CCV completion and confirmation of duty payment. ICES technical changes will be communicated via DG Systems advisories and field formations must notify trade and report implementation issues to the Board.

Intermediary access in IFSCs permits registered intermediaries and associates to provide services without separate companies, subject to approval.
SEBI amends IFSC guidelines to allow SEBI-registered intermediaries (except trading/clearing members) or their international associates to provide securities-market financial services in IFSCs without forming a separate company, subject to Board approval, with exceptions for services offered exclusively to institutional investors and for recognized foreign entities. Entities issuing or listing debt in IFSCs must prepare accounts under IFRS/US GAAP/Ind AS or home accounting standards; where not using those standards, a quantitative summary of significant differences from IFRS must be included in disclosure documents.

Empanelment of Chartered Engineers for examination and valuation of second hand imported machinery; applicants must meet eligibility and documentation requirements.
Invitation for empanelment of Chartered Engineers for examination/valuation of second hand and used imported machinery and capital goods in the Air Cargo Complex (Import), Mumbai; applicants must be authorised Chartered Engineers, submit prescribed application, undertaking and supporting valuation certificates, undergo credential verification and interview, prepare reports per CBIC Circular No. 07/2020 after on site verification, and submit half yearly self appraisals.

Imported second hand machinery must have chartered engineer inspection reports or appraisal by a local empanelled engineer.
Imported used capital machinery should ordinarily be accompanied by an inspection/appraisement report by a Chartered Engineer in the prescribed Form A; if unavailable, the importer may obtain appraisal from a Chartered Engineer empanelled by the Customs House in Form B. Where Rule 3 cannot be applied due to pre import refurbishment, depreciation and related charges must be considered and, if necessary, the residual method under Rule 9 used to determine value, with declared values compared to engineer reports and depreciated benchmarks and explanations sought under Rule 12 when discrepancies arise.