Unutilized input tax credit refund eligibility affirmed for exporters of specified fabrics, excluding capital goods credit.
Clarification states that refunds of unutilized input tax credit for manufacturers exporting specified fabrics are allowable despite a notification restricting refunds under clause (ii) of the proviso to subsection (3) of section 54, because that restriction does not apply to zero-rated supplies (exports and SEZ supplies). Subject to subsection (10) of section 54, input tax credit on inputs (excluding capital goods) used to manufacture exported fabrics is eligible for refund; the circular is clarificatory and follows the Central Circular with para materia changes.

EOU procurement treated as deemed exports: prior Form A, endorsed tax invoices and monthly Form B digital records required.
Supplies to EOU/EHTP/STP/BTP units from the DTA are treated as deemed exports with refund claimable by supplier or recipient. The recipient must give prior intimation in Form A to the supplier and both jurisdictional GST officers; the supplier issues a tax invoice which the recipient endorses and circulates to the supplier and both officers, the endorsed invoice serving as proof of deemed export. Recipient units must maintain digital Form B records with an audit trail and submit a monthly digital copy to the jurisdictional GST officer by the 10th.

Movement of goods on approval basis may use delivery challan and issue tax invoice on delivery when supply is confirmed.
Where goods are moved for supply on approval basis within or outside the State, the supplier may transport them on a delivery challan with an e-way bill where applicable and issue the tax invoice after delivery if the buyer approves; the person carrying goods may carry the invoice book for issuance once supply is fructified. The circular construes relevant sub-rules of rule 55 and rule 138 and is clarificatory in nature.

Export under LUT: facility extended to most exporters enabling zero rating of exports subject to compliance and bond safeguards.
Extension of export without payment of integrated tax by furnishing a LUT is available to all registered persons except those prosecuted for offences involving substantial tax evasion. An LUT is valid for the financial year and is deemed accepted on online submission of FORM GST RFD-11 with ARN; no physical documents are required. Withdrawal of the facility follows failure to meet export timelines or pay required tax, after which exports must be on payment of integrated tax or under bond with bank guarantee. Ineligible LUTs may be rejected ab initio.

Valuation of debt securities: tighter amortization window, reference price threshold, and mandatory valuation and disclosure for sub investment grade.
Amortisation based valuation for non traded short term money market and debt securities is confined to securities with reduced residual maturity; the amortised price must be compared to the average security level reference price provided by valuation agencies and used only if within a 0.025% threshold, otherwise adjusted. Securities rated below investment grade shall be valued at prices from valuation agencies or, pending such prices after a credit event, by applying agency indicative haircuts; traded prices lower than the post haircut or computed agency price must be used where applicable. Deviations by AMCs require recorded rationale, board/trustee reporting and immediate investor disclosure.

Mandatory BIS certification requires listed imported products to bear a valid Standard Mark before import clearance is permitted.
Imports of products covered by compulsory quality-control requirements must bear the BIS Standard Mark under a valid BIS licence and cannot be imported without it. Foreign manufacturers may use the mark only under an operative licence issued on conformity with relevant Indian Standards. Expiry or cancellation of a licence prevents further supply with the Standard Mark, requiring import participants to verify licence validity. The compulsory-certification list covers 135 products across cement, electrical goods, food products, automotive accessories, gas equipment, steel products, transformers, motors, capacitors, chemicals and specified appliances.

Customs Compliance Verification streamlines post-registration inspection and automates clearance upon duty payment via electronic FIFO queuing.
Customs Compliance Verification allows officers to verify registered imported goods before duty payment and to record CCV completion in the system; the Automated System electronically clears the bill of entry upon duty payment. System upgrades implement FIFO electronic queuing to officers in SUP roles, provide transitory manual entry for pre-existing cases, options to set aside or reactivate bills, DC/AC reallocation and priority controls, and a Comments-based importer query function for minor documentary clarifications while preserving existing appraising practices for major valuation or classification changes.

Rebate of State and Central Taxes scheme transition: new RoSCTL replaces ROSL, duty credit scrips to be issued.
The notification establishes the RoSCTL effective 07/03/2019, replacing the ROSL scheme; RoSCTL benefits will be provided as DGFT-issued duty credit scrips with detailed procedures to follow. Claims under ROSL will be processed only for shipping bills with LEO dates up to 06/03/2019, and claims filed under the old scheme codes will be treated as claims under RoSCTL during the transition until procedures are finalised.

Integrated Bill of Entry declaration requires mandatory new BE fields and AD code, changing import filing requirements and compliance.
The Single Window Integrated Bill of Entry requires new mandatory BE message fields and validations; technical specifications and directories are available on ICEGATE/ICECATE. Key operational changes include mandatory AD Code declaration for outward remittance, coded enduse values with published lists, inclusion of accessory status, expanded RSP flags, a Statement Table with specified statement codes (DEC type), a Preceding Level column for HSS transactions, and a new Commercial Tax Type flag 'E' for concessional excise registration information. Failure to populate mandatory fields will cause BE rejection on filing.

Deferral of Indian Accounting Standards implementation pauses adoption for scheduled commercial banks pending legislative amendments and preparedness.
Deferral of implementation of Indian Accounting Standards (Ind AS) for scheduled commercial banks (excluding regional rural banks) is extended until further notice because recommended legislative amendments to the Banking Regulation Act remain under government consideration and many banks require additional preparedness time, thereby suspending the previously scheduled transition timetable.

Import quota allocation for pet coke limits imports and prescribes application, reporting and reallocation procedures.
Procedure prescribes allocation of annual import quotas for calcined pet coke for aluminium production and raw pet coke for CPC manufacturing. Eligible industrial users must apply using ANF 2M and ANF-1 to the DGFT Exim Facilitation Committee with unit capacity and a valid SPCB/PCC consent certificate specifying monthly and yearly usage. Applications received by the deadline will be evaluated and allotments made by the Exim Facilitation Committee, with regional authorities issuing authorizations valid only until the end of the fiscal year; holders must report imports and may surrender unused quota for reallocation.

Deadline extension for Radiation Portal Monitors and Container Scanners; non compliant ports face derecognition for scrap imports.
The amendment extends the deadline for installation and operationalisation of Radiation Portal Monitors and Container Scanners at designated sea ports to 30.06.2019; ports failing to comply will be derecognised for import of un shredded metallic scrap with effect from 01.07.2019, pursuant to powers under paragraph 2.04 of the Foreign Trade Policy and amendment of Para 2.54( v )(ii) of the Handbook of Procedures (2015-20).

Automated queuing of Bills of Entry: OOC officers receive FIFO assignments with manual override and in-system importer query option.
Automated queuing of Bills of Entry for Out Of Charge assigns BEs on a FIFO basis to OOC officers in the SUP role after mapping officers and custodians; transitional manual custodian-code entry is available for pre-existing BEs. Officers may set aside and later reactivate BEs; ACS role holders can change priority and reallocate BEs. Shed superintendents may raise in-system queries to importers for minor clarifications, returning BEs to officers upon reply, while major classification or valuation changes continue to follow the appraising route.

Earmarked fund for farmers to lower agri-commodity trading costs and subsidize participation under SEBI framework.
Stock exchanges must create a segregated fund comprising the regulatory fee foregone by SEBI to be used exclusively to facilitate participation by farmers and Farmer Producer Organizations in agri-commodity derivatives markets. Investment returns must be reinvested. Exchanges must prepare and publish an annual action plan for full utilisation in the succeeding financial year, detailing proposed financial assistance and activities, and notify SEBI. The fund may subsidise warehousing, assaying, packaging, transport, mark-to-market funding, broker fees, delivery charges and repository fees, subject to equitable distribution and prescribed caps.

Permission for shifting self-sealed containers can be granted by parking plaza Superintendent, subject to weekly reporting and ex-post approval.
Superintendent-level authorization permits parking plaza Superintendents to grant on-the-spot permission to shift self-sealed containers to buffer yards/CFSs, with a weekly record of permissions maintained and a consolidated report submitted to the Deputy/Assistant Commissioner on the forenoon of the succeeding Monday for ex-post facto approval; reiteration that advance-dispatched self-sealed containers need not be brought into parking plazas before the terminal gate open schedule; the modification to the earlier public notice operates as a standing order for officers and staff, and implementation difficulties are to be reported to the Deputy Commissioner in charge.

Automated queuing of Bills of Entry enables FIFO allocation to OOC officers and direct minor-query channels to importers.
Automated queuing assigns Bills of Entry to OOC officers by CFS/Custodian group on a FIFO basis; a transitional manual custodian-code entry allows placement of pre-existing BES into the automatic queue. The OOC screen includes options to set aside and later reactivate a BE, while AC Shed (ACS role) may change priorities and reallocate BES. A Comments-based query option enables Shed superintendents to raise limited documentary or minor clarification queries directly to importers, with importer replies returning the BE for office approval; major classification or valuation issues remain routed to appraising.

Automated customs queuing assigns Bills of Entry to custodians on FIFO, enabling set-aside, reallocation and importer queries.
Automated queuing under Turant Customs assigns Bills of Entry to OOC officers by CFS/custodian on a first-in, first-out basis; a supervisory manual-entry option allows placement of previously queued BEs into the automatic queue by entering custodian codes. Officers can set aside and later reactivate BEs; AC Shed in ACS role may change priority or reallocate BEs. Shed superintendents may raise direct importer queries via the OOC Comments field for minor documentary clarifications, with responses returning the BE to the office for approval.

Registration exemption for exclusive goods suppliers: higher threshold allows eligible taxpayers to cancel GST registration before notified cutoff.
Persons exclusively supplying goods whose aggregate turnover does not exceed the prescribed threshold are exempt from GST registration, subject to conditions: exclusive supply of goods, absence from compulsory registration categories, non-involvement in excluded supply categories, and the interplay with voluntary registration; eligible taxpayers may apply for cancellation of registration by the prescribed cutoff and must not have issued any tax invoice in the subsequent fiscal period to claim the exemption.

Country code reporting under FETERS: banks must capture ultimate exporter/importer country and update R Return reporting workflows.
A two character country-code (SWIFT code) must be added to the end of the BoP file-format under FETERS to capture the ultimate exporter/importer country; for imports, a revised Form A2 must record the "Name of the country providing ultimate services" for specified purpose groups, and Authorised Dealers must update systems to report R Returns on a fortnightly basis accordingly.

Export and import of Indian currency: individuals may carry new Rs200 and Rs500 notes to Nepal/Bhutan within Rs25,000 limit.
Individuals travelling from India to Nepal or Bhutan may carry Indian currency notes in the Mahatma Gandhi (New) Series of Rs.200 and Rs.500 subject to an aggregate limit of Rs.25,000; currency notes up to Rs.100 remain allowable without limit. Authorised Persons must notify customers. The change is effected by amendment to the Export and import of Currency Regulations, 2015, notified in the Official Gazette and issued under the Foreign Exchange Management Act, without prejudice to other required permissions.