Agriculture Infrastructure and Development Cess on imports requires notification citation and specific BE duty flags for correct levy.
AIDC is introduced as an additional customs and, for specified excisable goods, excise levy, calculated using customs valuation and payable in addition to other duties. ICES has been updated and importers must quote relevant notification serial numbers in the Bill of Entry to claim AIDC exemptions; claim is mandatory. Excise AIDC applies only to petrol and high speed diesel. Filers must set BE_DUTY flags (Customs: NOTN TYPE 'C' and Additional Duty Flag 'A'; Excise: NOTN TYPE 'E' and Additional Duty Flag 'A'). SWS is leviable on AIDC with a system exemption for certain gold/silver CTHs.

Agriculture Infrastructure and Development Cess introduced on imports; EDI filing must quote notification and duty flags for claims.
AIDC is introduced as an additional duty on imports and as excise on specified excisable goods, with valuation aligned to customs valuation rules. ICES/ICEGATE has been updated and importers must quote the relevant notification serial numbers in the Bill of Entry; use NOTN TYPE 'C' with Additional Duty Flag 'CA' for customs AIDC and NOTN TYPE 'E' with Additional Duty Flag 'A' for excise AIDC. SWS is generally levied on AIDC but is exempted for specified gold and silver headings; traders must verify duty calculations and report discrepancies to ICEGATE.

Agriculture Infrastructure and Development Cess requires mandatory Bill of Entry notification claims and specific system flags for imports.
Introduction of Agriculture Infrastructure and Development Cess (AIDC) imposes an additional levy on imports and, for excisable scheduled goods, as excise; AIDC value follows customs valuation under section 14. Importers must mandatorily quote the relevant Notification 11/2021 Sl. Nos. in the Bill of Entry, and use specified BE_DUTY flags (NOTN TYPE 'C' or 'E' and Additional Duty Flag 'A') to claim exemptions. Excise AIDC is limited to petrol and HSD. SWS applies to AIDC except where Notification 13/2021 exempts specified CTHs; ICES has been updated and duty calculations should be verified and discrepancies reported.

Surety requirement: proprietors and partners cannot act as sureties for their own EOU bonds; independent entity required.
The Board clarifies that the surety for a B-17 bond executed by an EOU/STP/EHTP must be an independent legal entity distinct from the obligor; proprietors of proprietorship EOUs and partners of partnership EOUs cannot act as sureties for their own firms. The circular recalls that individuals or corporate bodies distinct from limited company EOUs may act as sureties and that solvency of sureties may be certified by chartered accountants or bankers. All B-17 bonds should be reviewed for compliance and difficulties reported to the Board.

Innovation Sandbox enables controlled access to anonymized market test data and environments to foster FinTech innovation under graded eligibility.
Innovation Sandbox provides staged access to anonymized historical securities market test data and enabling organizations' test environments for FinTechs, startups and other applicants; Stage I offers resource-capped access subject to KYC and demonstrable testing need, while Stage II allows expanded access after demonstrated progress, a post-testing plan, investor/market benefit and steering committee approval. Access is delivered via APIs and test platforms, governed by confidentiality/end-user agreements, with IPR claims excluded and lifecycle management through a digital portal.

Limited Purpose Clearing Corporation requirement obliges AMCs to contribute proportionate capital for corporate debt repo clearing
AMCs must participate in establishing a Limited Purpose Clearing Corporation (LPCC) for clearing and settling corporate debt repo transactions, contributing capital in proportion to the Average AUM of specified open-ended debt-oriented schemes for FY 2019-20 as calculated by AMFI. Contributions are obligatory and must comply with networth, conditions and timelines under the SECC Regulations and related circulars, with AMCs required to maintain the networth prescribed under Regulation 21(f) over and above the LPCC contribution.

Mandatory document upload in e-Sanchit: revised codes; online item-level amendments permitted using Amend Code S STMT.
The notice revises the mandatory document code list (Annexure I) and identifies doc codes still uploadable only by PGAs (Annexure II); other codes may be uploaded by IECs or Customs Brokers. PGAs may upload documents only for ICEGATE registered IECs, so importers should obtain ICEGATE registration. Amendments to the BE Statement table for exceptions can be filed at item level via service centre or online using Amend Code S STMT with Invoice Sl No and Item Sl No. Systemic checking at OOC stage is suspended for BEs filed before 23.01.2021.

Search authorization compliance required: searches must follow CrPC procedures and strict panchnama and witness safeguards for integrity.
Search operations must be conducted in accordance with the Code of Criminal Procedure and statutory search provisions, with search authorizations supported by recorded reasons and a DIN. Authorizations must be executed before search commencement and shown to the person in charge; signatures and timestamps of the person in charge and independent witnesses must be obtained on the search authorization. Panchnama must record time, date, personal searches, lists of recovered items and signatures on each page; statements and annexures must be signed; copies of seized documents may be allowed unless prejudicial to the investigation.

Provision of application copy under Rule 9 enables online submission to the Board with an acknowledgement ID for records.
Applicants initiating insolvency resolution of a personal guarantor must provide the Board a copy of the application as mandated by Rule 9; the Board offers an online portal with a prescribed format capturing applicant and creditor details, corporate debtor and guarantor particulars, IRP/RP information, and a pdf upload, and issues an acknowledgement ID upon submission for record-keeping.

Mandatory uploading in e Sanchit: IECs/Customs brokers can upload most documents; select codes remain PGA only.
The mandatory document code list for e Sanchit has been revised (Annexure I); most document codes may now be uploaded by the IEC or Customs Broker, while specified codes remain PGA only (Annexure II). PGAs can upload documents only for IECs registered on ICEGATE; importers are urged to register. Amendments to the BE Statement table to claim exceptions must be filed at item level using Amend Code S_STMT or via the service centre with Inv SI No and Item SI No. Systemic OOC checking is disabled for BEs filed before 23.01.2021.

Mandatory document upload in e Sanchit: importers must quote IRNs in the BE and amend BE to add post filed documents.
Uploading mandatory documents to e Sanchit is only the first step; importers must quote the system generated IRNs in the corresponding Bill of Entry and, where documents are added after filing, attach them by way of a BE amendment (no officer approval required). Doc codes must be entered at the item level. PGAs may upload certain documents directly, and importers registered on ICEGATE will receive IRN notifications which must be included in the BE. If a mandatory doc code is not applicable, the importer must declare the exception using Statement Type REM with reasons in the BE.

Agriculture Infrastructure and Development Cess introduced on specified imports, with simultaneous recalibration of customs and excise duties.
The Finance Bill, 2021 effects wide ranging changes: numerous Basic Customs Duty adjustments, introduction of an Agriculture Infrastructure and Development Cess on specified imports with simultaneous BCD recalibration and SWS treatment, recalibration of excise duties including AIDC on petrol/diesel with compensatory adjustments to other excise components, consolidation and amendment of concessional entries (notably for mobile/ battery/solar and project imports), procedural and time limit reforms in Customs investigations and trade remedial measures (ADD/CVD/safeguards), and amendments to CGST/IGST linking input tax credit to supplier reporting and streamlining annual return and seizure/confiscation procedures.

Turnover-based online transfer rules now allow year-round processing, with post-June cases routed through zonal oversight.
Turnover-based online transfer of registered persons among Deputy Commissioner, Assistant Commissioner and Commercial Tax Officer login IDs remains available throughout the year, but intra-sector transfers within the prescribed monitoring limits may be made only up to 30 June of each financial year. After that date, remaining cases must be sent with reasons to the Zonal Additional Commissioner, whose login ID may be used for the transfer. Pending cases are to be examined on merits, action may follow against negligent officers, and all pending cases for 2020-21 were required to be disposed of by 28 February.

Mandatory uploading of documents in e Sanchit: revised code lists, PGA restrictions, ICEGATE registration and S_STMT amendment procedure.
The mandatory document codes list for ICES has been revised (Annexure I) and certain codes remain PGA only in Annexure II; IECs/Customs Brokers may upload other documents on e Sanchit. PGAs can upload documents only for ICEGATE registered IECs. Amendments to the Statement table may be filed online or at service centres at item level using Amend Code S_STMT, citing Invoice SI No and Item SI No. Systemic OOC checks are disabled for BEs filed before 23.01.2021; the notice operates as a standing order and trade may report issues to the Joint Commissioner.

Blocked Input Tax Credit: taxpayers must reverse ineligible credits on passenger vehicles and construction services to comply.
The circular explains that Section 17(5) blocks ITC for specified supplies including passenger motor vehicles (except where used for further supply, passenger transport, or training), works contract and construction services for immovable property (other than plant and machinery) unless used for further supply of works contract services, and goods or services used in construction on one's own account. Blocked credits must be reported in GSTR 3B (Table 4(D)(1)) and other ineligible credits in Table 4(D)(2). Taxpayers must reverse wrongly claimed blocked credits suo motu via DRC 03.

Filing suspension of Bills of Entry until ICES update; exporters must monitor duties and collect amended export levies manually.
Electronic filing of Bills of Entry is suspended from 20:00 hours on Budget presentation day until ICES tariff and notification directories are updated; Section 48 approvals are also suspended while other ICEGATE services and officer functions continue. Shipping Bills continue to be processed, but where export duties or cesses change in the Budget, export levies on Shipping Bills granted Let Export after the Budget must be collected manually until directory updates are made. Field formations must track prior Bills of Entry for duty changes before granting Out of Charge. The notice functions as a standing order and stakeholders should schedule clearances accordingly.

SEBI revises Mutual Funds Monthly Cumulative Report format to add scheme category and segregated portfolios reporting.
SEBI revised the Monthly Cumulative Report format effective January 2021 (Annexure A) to add a new scheme category and require explicit reporting of segregated portfolios and their AUM, with detailed columns for schemes, folios, net inflow/outflow, redemptions, net assets and average AUM; the revision covers open ended, close ended and interval schemes and preserves other conditions from the prior circular.

Faceless assessment: mandatory e Sanchit document uploads and reassessment must provide opportunity to be heard orally.
Re-assessment under faceless assessment must comply with Section 17(4)-(5) of the Customs Act: queries are to be raised via the ICES module, consolidated where possible, and upon re-assessment the importer must be afforded an opportunity to respond in writing or by video conferencing before changes to classification, valuation, or notification applicability are made; if the importer objects, the proper officer must issue a speaking order. Supporting documents for specified tariff items must be mandatorily uploaded in e Sanchit with prescribed document codes and IRN declaration, and BEs lacking required codes will be disallowed.

Bills of Entry filing suspension during ICES budget updates accompanies continued export assessment and manual collection of changed export levies.
Budget-related updation of the ICES notification and tariff directories requires a temporary suspension of filing of Bills of Entry and section 48 approvals from 20:00 hours on 1 February 2021 until ICES incorporates all budgetary changes. Other ICEGATE services and ICES officer functions remain operational, while Shipping Bill filing and assessment continue and changed export levies are manually collected until directory updates take effect.

GST registration verification authority is reassigned from circle-level Joint or Deputy Commissioners to zonal Additional Commissioners.
Registration verification under the Rajasthan Goods and Services Tax Rules, 2017 is amended by replacing the Joint/Deputy Commissioner, State Tax, of the circle with the Additional Commissioner (Administration), State Tax, of the zone, for purposes covered by the earlier order under the provisos to rule 9(1) and rule 9(2). The amendment takes effect from 22 January 2021.