Extension of time for FORM GST TRAN-1 granted for registrants unable to file due to common portal technical issues.
The Commissioner, exercising powers under the relevant rule and the Act and on the Council's recommendation, extends the period for submitting the declaration in Form GST TRAN-1 until 31 March 2020 for registered persons who could not file by the due date due to technical difficulties on the common portal; the Order supersedes Order No. 01/2019-GST except as to prior actions.

Rule 86A credit blocking procedure set for suspected ineligible input tax credit and non-existent firms
Blocking and unblocking of input tax credit under Rule 86A is prescribed for cases involving invoices or other documents issued by non-existent firms or other specified indicators of fraudulent or ineligible credit. The circular authorises designated Deputy Commissioners and Assistant Commissioners to act within their territorial jurisdiction, requires inter-office requests and communication by e-mail, and limits action to the conditions expressly stated in Rule 86A(1). Action is to be completed within prescribed working timelines, communicated to the registered person, and recorded with reasons; cases not fit for action are to be returned with reasons and evidence.

Extension of validity for Pre-shipment Inspection Agencies: recognitions expiring by March extended to end of month.
The Director General extends recognition validity for Pre-shipment Inspection Agencies listed in Appendix 2G of the Aayat Niryat Forms whose three-year tenure would expire on or before 30.3.2020, by continuing their recognition up to 31.3.2020, invoking powers under the Foreign Trade Policy and relaxing the relevant Handbook of Procedure provision.

Electronic sealing for bonded warehouses: RFID one-time locks required to secure and track movement of goods to and from warehouses.
The circular extends RFID-based REID self-sealing to goods deposited in and removed from customs bonded warehouses, requiring use of RFID one-time-locks sourced from CBIC-listed vendors that meet ISO specifications. Licencees must procure readers and ensure seals link TID numbers to warehouse codes; specified data elements (including IEC, entry/shipping bill numbers, seal serial, sealing time/date, container or vehicle registration, and origin/destination codes) must be captured in a web application. Tampered seals trigger examination or refusal to unload and trip reports from destination scans serve as statutory acknowledgements.

Customs Health Cess imposed on imported medical devices, requiring specific BE declarations and verification of system duty calculations.
A Customs Health Cess of 5% ad valorem applies to imports of medical devices under headings 9018-9022, effective 02.02.2020, with exemptions under Notification No. 08/2020. ICES has been updated to calculate the cess automatically; to claim exemptions filers must use Notification Type "C" and AD Flag "+" in the Bill of Entry. Trade must verify duty calculations for entries cleared on 02-Feb-2020, manually check initial assessments, and report discrepancies to the Assistant Commissioner (EDI) or [email protected].

SGST reimbursement on movie tickets: theatres must reduce price by SGST and claim refund after filing returns.
GRs reimburse the SGST component on specified movie tickets; registered theatres must indicate CGST and SGST, reduce the ticket price by the SGST amount and prominently show the reimbursement. Theatres must still deposit SGST and CGST in returns; only theatres that pass the SGST benefit to consumers and timely submit Annexure I details are eligible. After filing the return under section 39, theatres must apply using Annexure II within thirty days for reimbursement; jurisdictional officers will verify records and compliance and, after verification, refund within 30 days.

Disclosure standards for alternative investment funds require standardized PPM templates and mandatory performance benchmarking for funds.
SEBI mandates a two-part Private Placement Memorandum (PPM) template for Category I and II AIFs and a separate template for Category III, requires alignment of subscription agreements with the PPM, and an annual audit of PPM compliance (with certain audit items optional). Mandatory industry and fund-level performance benchmarking is introduced: Associations representing a majority of AIFs shall appoint Benchmarking Agencies, AIFs must report scheme-level valuation and cash-flow data for schemes one year past first close, and benchmarking reports must accompany any disclosed past performance; exemptions apply to certain Angel Funds.

Customs Health Cess on medical device imports requires declaration and specified Bill of Entry entries to claim exemption.
Introduction of Customs Health Cess imposes a 5% ad valorem duty on imports of medical devices under headings 9018-9022 as valued under the Customs Act; the system will calculate the cess on tariff declaration. Notification No. 08/2020 provides exemptions for certain goods, and importers claiming exemption must declare Notification Type "C" and AD Flag "+" in the Bill of Entry SBE Duty Tag when filing via RES software.

GST refund reconciliation against VAT arrears directs case-by-case bank account attachment and monitoring to avoid refund delay.
GST refund claims made by dealers migrated from VAT are to be checked against outstanding VAT arrears available in the RC Module, and recoverable dues may be pursued through bank account attachment in accordance with the prescribed rules. During processing of refund applications of such defaulters, the refund claim must be reconciled with arrears reflected in the RC Module. Bank account attachment is to be used on a case-to-case basis only where genuine default exists, and cases not requiring attachment are to be recorded separately.

Withdrawal of administrative circular on ITeS clarifications; ab initio withdrawal under statutory power to ensure uniform implementation.
The Commissioner of Commercial Taxes has withdrawn ab-initio Circular No. 107/26/2019-GST (which had provided clarifications on supply of Information Technology enabled services) by exercising statutory power under section 168(1) of the Jharkhand GST Act, 2017, and has requested issuance of trade notices to publicize the withdrawal to ensure uniform implementation.

Mandatory export data enhancement: shipping bills must record origin, preferential agreement and standard unit code, and GSTIN required.
From 15.02.2020, Shipping Bills filed electronically on ICEGATE must include for each item the State and District of Origin, any applicable Preferential Agreement, and the Standard Unit Quantity Code (SQC) for the tariff heading; additionally, GSTIN declaration is mandatory for GST registered importers and exporters, and DG (Systems) will publish field level technical guidance.

Transhipment of export cargo: pilot facility via land customs to Kolkata extended; stakeholders urged to report implementation difficulties.
The Central Board of Indirect Taxes and Customs has extended a pilot mechanism permitting transhipment of export cargo from Bangladesh through designated Land Customs Stations for onward movement to Kolkata Port or Airport in containers or closed bodied trucks; the facility continues under prior circulars as amended and officers are instructed to facilitate prescribed customs controls, documentation and container integrity, while reporting any implementation difficulties to the Board.

Valuation of second hand machinery: certified chartered engineer inspection reports must support declared import values.
Valuation of imported used machinery should use the transaction value where Rule 3 applies; if not, subsequent valuation rules may be impracticable and the proper officer may need to apply the residual method under Rule 9 to account for condition, depreciation, refurbishment and related pre shipment or dismantling charges. To ensure uniform and commercially realistic valuation, Customs will accept inspection/appraisement reports from qualified Chartered Engineers based in the country of sale or from engineers empanelled by the Customs House, using prescribed Form A (overseas) or Form B (local) reports, and will compare declared values against appraisal and depreciated values, invoking Rule 12 where significant differences arise.

Resubmission permission allows correction of deficient TMA claims via the prescribed online form and submission to the regional authority.
One-time resubmission permission allows modification of deficient or incomplete TMA claims that remain pending for disbursement; applicants must register via the specified online form, edit submissions using the original ECOM reference, resubmit online within the prescribed edit window, and provide a printed modified application with self-certified supporting documents to the concerned regional authority. The facility is limited to pending disbursement applications and does not permit enhancement where payment has already been made.

Performance review of commodity derivatives contracts: mandatory annual review, disclosure and consultation requirements for exchanges to evaluate contract performance.
Mandate for performance review of commodity derivatives contracts requiring recognized stock exchanges to evaluate every contract against structured parameters, consult the Product Advisory Committee, and disclose the review and methodology annually on their websites; the framework covers commodity fundamentals, detailed trading metrics, price movement analysis, hedge effectiveness, delivery infrastructure and stakeholder outreach, and exchanges must amend rules, inform brokers, and report implementation to the regulator.

Sea Cargo Manifest Transhipment Regulations require ICEGATE registration and dual-format message testing before full format switchover.
The notification requires all stakeholders to register and apply via ICEGATE to operate under the Sea Cargo Manifest Transhipment Regulations, with entities filing specified messages and manifests. Some classes must satisfy particular registration conditions such as pre registration of a National Surety Bond, while others receive auto approval after meeting ICEGATE prerequisites. Entities performing multiple roles must submit separate applications. During the interim testing phase stakeholders must transmit both existing and new format messages to ensure smooth switchover; registration approval queries are handled online with manual submission of additional documents where required.

Customs Health Cess imposed on specified medical device imports; ICES updated to calculate cess and apply exemptions automatically.
Customs Health Cess has been introduced on imports of specified medical devices as a duty of customs at the ad valorem rate; exemptions have been issued and declaration of the tariff item will cause automatic calculation of the cess in the electronic system.

Common Application Form for Foreign Portfolio Investors streamlines FPI registration, PAN allotment and KYC processes for intermediaries.
The Government notified a Common Application Form for FPI registration, PAN allotment and KYC; applicants must submit the CAF and Annexure with supporting documents and applicable fees, intermediaries may rely on CAF for KYC, DDPs may accept earlier-form applications for a sixty-day transition, and custodians must inform FPI clients of the CAF and operational guidelines issued under the regulator's statutory powers.

Social Welfare Surcharge payable in cash; not admissible for MEIS/SEIS scrip debit, per administrative circular.
Levy and collection of the Social Welfare Surcharge on imports under schemes including the Merchandise Exports from India Scheme and the Services Exports from India Scheme require payment of the surcharge in cash at import clearance, and the surcharge is not eligible for debit against MEIS or SEIS scrips; stakeholders are directed to follow the detailed procedural guidance set out in the referenced administrative circular.

Position limits for Rupee derivatives in IFSC restrict open positions across participant categories to defined caps.
Introduction of Rupee derivatives with settlement in foreign currency on IFSC exchanges establishes position limits per currency pair per exchange: identical gross open position caps for trading members, institutional investors, and eligible foreign investors across all contracts measured against total open interest or a currency-equivalent cap, and a lower cap for other clients; Institutional Investors are defined to include specified IFSC and offshore entities. Exchanges must impose penalties for violations and implement the limits pursuant to regulatory powers to protect investors and regulate the market.