External audit compliance reporting through VYAS Central streamlines PAC objections, evidence upload, and time-bound online review.
External Audit Module was introduced on VYAS Central for the prompt disposal of external audit objections and for submission of PAC-related compliance reports through a time-bound, evidence-based online workflow. The module provides for initial entry of pending paragraphs at Headquarters, onward transmission to the concerned Joint Commissioner (Executive) or Zonal Additional Commissioner, and further forwarding to the Division or Corporate Circle for typing of objections, preparation of compliance replies, and upload of a consolidated PDF containing supporting documents. Submission through the module replaces the need for hard copy transmission.

Paperless LPCO uploads: Registrar of Newspapers must upload authorizations on e SANCHIT and beneficiary uploads will be disabled.
RNI is enabled to upload digitally signed LPCOs (Certificate of Registration and Self Declaration Certificate for Import) on e-SANCHIT, centralizing issuance for beneficiaries. Beneficiary uploading of previously issued LPCOs will be disabled after the cut-off; RNI must upload LPCOs from the prior fifteen days and may upload earlier documents. ICEGATE-registered email addresses will be used for IRN communication; formations must ensure correct beneficiary email registration and issue public notices. Feedback to [email protected].

Import deadline extension for Urad imports requires arrival at Indian ports before the extended deadline; no further extensions permitted.
Importers holding licences for the additional 2.5 lakh metric tonnes of Urad must ensure arrival of imports at Indian ports before 31 May 2020; this extension replaces earlier cut offs and no further extension will be entertained.

Acceptance of undertaking in lieu of bond extended to facilitate trade during COVID lockdown until end of May.
Importers, exporters and customs brokers may continue to submit an undertaking in lieu of a bond for customs clearance, subject to the conditions in CBIC Circular No.17/2020 and related public notices. The Board, considering the extended lockdown and the time needed for normalisation, has further extended the temporary facility for acceptance of such undertakings as announced in CBIC Circular No.23/2020; provisional acceptance remains conditional on later submission of the proper bond.

Port clearance procedure requires specified vessel certificates, verification, continuity bond or undertaking, and emailed scanned documents during lockdown.
Granting of EDI Port Clearance and Advance Port Clearance requires production and verification of specified vessel certificates (including Immigration NOC, Port Health, Load Line, Safety Radio, Safety Equipment, Ship Registry, Light House and Income Tax certificates) and verification of entry records and light dues by the concerned AC/DC before EDI issuance. Advance Port Clearance may be issued on a continuity bond with submission of outstanding certificates within seven days; during COVID 19, undertakings and scanned copies may be emailed pending formal bond submission. Advance Port Clearance is valid three days and extendable three times.

Aadhaar authentication permission allows designated market entities to provide e KYC for investor KYC subject to UIDAI and regulatory compliance.
Permission is granted for designated market entities to perform Aadhaar Authentication via the e-KYC facility for investor KYC, provided they register with UIDAI as KUAs, enable SEBI-registered intermediaries to register as sub-KUAs under UIDAI-prescribed agreements, and comply with UIDAI privacy and security standards and applicable regulatory requirements; stock exchanges and depositories must notify participants, amend rules for implementation, report monthly on status, and monitor compliance, with permissions subject to withdrawal if standards are not maintained.

Relaxation of listing obligations permits electronic AGMs and waives physical annual report and proxy requirements during the pandemic.
SEBI relaxes specified LODR compliance for calendar year 2020 by permitting AGMs by electronic mode and dispensing with the physical dispatch of annual reports and proxy forms for such AGMs; dividend warrant issuance by post is deferred until postal normalization while electronic payments and collection of bank details should be pursued; newspaper publication requirements for corporate notices are exempted till June 30, 2020; banks and insurers or entities with such subsidiaries may voluntarily publish consolidated quarterly results for the June quarter but must submit standalone results and disclose reasons if consolidated results are not published.

Undertaking in lieu of bond extended during COVID lockdown, with deadline for formal bonds deferred pending review.
The Board has extended the temporary facility permitting acceptance of an undertaking in lieu of a bond for customs clearance during the COVID-19 lockdown; the deadline for submission of the proper bond in lieu of which the undertaking is accepted is deferred, the earlier conditions remain applicable, and the relaxation will be reviewed at the end of the lockdown period.

Inclusion of National Calamity Contingent Duty in Brand Rate calculation required for duty drawback determinations.
Incidence of National Calamity Contingent Duty (NCCD) on inputs used in manufacture of export goods must be included in calculation of the Brand Rate of duty drawback; NCCD is levied as excise and customs duty and is subject to relevant provisions, refunds and exemptions under Central Excise and Customs law, and is already taken into account for All Industry Rates by the Drawback Committee.

Time of supply determines tax liability; TCC issuance requires timely GST return filing and payment by the due date.
The circular explains that the time of supply-whichever is earlier between invoice issuance and receipt of payment-fixes the point of taxation and the due date for GST. Taxpayers must file returns and pay tax by that due date even if payment from customers is pending. Issuance of a Tax Clearance Certificate (TCC) for release of payment by a deducting authority is conditional on timely filing of GST returns and payment of tax by the due date.

Transport and Marketing Assistance per kilogram: air export claims must be filed on a full kilogram basis, ignoring fractions.
TMA for specified agricultural exports by air is to be claimed on a per kilogram basis, calculated on the net export cargo weight using full kilograms and ignoring any fraction; fresh applications on or after the implementation date must claim in whole kilogram multiples and earlier applications cannot be converted from per ton to per kilogram. Handbook of Procedures and ANF 7(A)A provisions, declaration language, and certain form columns have been amended or deleted to implement this per kilogram claim method, while sea shipment assistance continues to be expressed in FCL/TEU terms.

Undertaking in lieu of bond accepted under section 143AA extended to continue temporary customs clearance relief.
Acceptance of an undertaking in lieu of a bond for customs clearance is extended, with the deadline for submission of the proper bond correspondingly deferred. The existing conditions of the earlier circular remain unchanged. Field formations should issue trade guidance and report implementation difficulties to the Board, which will review the temporary arrangement at the end of the lockdown period.

Dispatch of notice under section 62(2): failure to post rights issue notices not treated as violation if SEBI circular complied.
Listed companies conducting rights issues opening up to 31st July, 2020, that comply with the SEBI circular of 6th May, 2020, will not be regarded as violating the requirement to dispatch the notice under section 62(2) if they are unable to send that notice by registered post, speed post or courier due to Covid 19 related disruptions.

Email-based amendment requests centralised to ICEGATE addresses with specified escalation for unresolved late-fee waiver applications.
Modification centralises requests for amendments and waiver of late fee in bills of entry to specified ICEGATE group email IDs per Appraising Group, withdraws previously published group addresses to prevent duplication, directs finalisation/regularisation of Prior/Advance Bills of Entry to the EDI Section email, removes the blanket requirement to mark all requests to supervisory officers, and prescribes escalation to ADC/JC email IDs where requests are not resolved within the prescribed timeframe.

Amendments and late fee waiver requests must use designated ICEGATE emails, with escalation if unresolved within 24 hours.
Requests for amendment of Bills of Entry and waiver of late fee must be sent only to the specified ICEGATE email IDs of the Appraising Groups listed; the earlier mail IDs in Public Notice No. 35/2020 are no longer to be used. Finalisation or regularisation of Prior/Advance Bills of Entry must be sent to the EDI Section email. If amendment or late-fee waiver requests are not resolved within 24 hours, they may be escalated by email to the ADC/JC of the respective commissionerate as specified.

Scanned Pre-shipment Inspection Certificate acceptance for customs clearance permitted; original physical certificate must follow within sixty days.
Importers of metallic scrap and waste may present a scanned copy of the Pre-shipment Inspection Certificate uploaded on e-sanchit for customs clearance, subject to an undertaking by the importer or customs broker at clearance. Customs may accept the scanned PSIC without asking for the physical copy, provided the original physical PSIC is submitted to the concerned Customs authority within sixty days of clearance; the facility is temporary in response to COVID-19 related document movement interruptions.

Residency determinations under the Income-tax Act: COVID-related involuntary stays excluded from days-count for status assessment.
Administrative relief excludes specified periods of involuntary stay from the computation of days present in India for assessing residency under section 6 where individuals who arrived before 22 March 2020 were unable to depart due to COVID 19 restrictions: (a) days from 22 March to 31 March if unable to leave by 31 March; (b) quarantine period from its start until departure or 31 March if quarantined on or after 1 March; and (c) days from 22 March to departure if evacuated on or before 31 March.

Pre-shipment Inspection Certificate acceptance: scanned PSIC permitted for customs clearance; original physical certificate to follow within prescribed period.
Scanned copies of Pre-shipment Inspection Certificates for metallic scrap and waste imports may be accepted by Customs for clearance when originals cannot be produced; this acceptance requires the importer to submit an undertaking certifying authenticity of the scanned PSIC and agreeing to submit the original physical PSIC within the stipulated period after clearance, with penalties possible for false or incorrect information.

Rights issue procedural relaxations allow electronic dispatch, alternative application mechanisms and digital authentication to facilitate investor participation.
SEBI permits one time procedural relaxations for rights issues opening up to July 31, 2020: electronic service of offer materials with mandated website publication and outreach measures; revised advertisement requirements including electronic dissemination; conditional acceptance mechanisms for physical shareholders unable to submit demat details, prohibiting renunciation and mandating demat allotment; optional non cash application mechanisms in addition to ASBA with prohibition on third party payments; requirements for transparent, robust processes, investor helpdesks, complaint responsibility; and allowance for digital signatures and electronic inspection of offer documents.

Late filing waiver for import Bills of Entry extended; late fees waived if filed within specified relief period.
Amendment extends temporary waiver of late filing fees under the Bill of Entry regulations: Bills of Entry for consignments arriving at ICD Tughlakabad on or after 21.03.2020 but on or before 17.05.2020, if filed late on or before 20.05.2020, will not attract late fee charges; other provisions remain unchanged and the amendment is to be publicized and treated as a Standing Order.