Lock-in exemption permits reduction to achieve required public shareholding, subject to amended eligibility, compliance and disclosure conditions.
Regulation 112(b) now requires issuers with equity shares frequently traded for at least three years to have redressed at least ninety five per cent of investor complaints and to have complied with Listing Obligations and Disclosure Requirements for three years; temporary non compliance with board composition is deemed satisfied if cured at filing and disclosed. Promoter subscriptions above specified caps must be priced at the higher of regulation 164 price or the issue price. Regulation 115 proviso after clause (c) is omitted and regulation 167 is amended so lock in does not apply to the extent necessary to achieve required public shareholding.

Resolution plan disclosure required: detailed non commercial features, investor steps and quarterly reporting on MPS compliance.
Amendments mandate disclosure of specific non commercial details of resolution plans approved under the Insolvency Code, including pre and post net worth, assets post CIRP, continuing securities and material liabilities on assets, pre and post shareholding on full conversion, funds infused and creditors paid, additional liabilities and funding sources for incoming investors, investor impact metrics, names and backgrounds of new promoters or key managers, and a brief business strategy, plus proposed steps to achieve the MPS, quarterly status disclosures on MPS achievement, and any delisting plans approved in the resolution plan.

Investor commitment threshold exemption allows AIF investors to waive specified compliance requirements when high commitment and waiver furnished.
A new proviso to Regulation 20 provides that clauses (i) and (ii) shall not apply to an Alternative Investment Fund in which each investor, other than the Manager, Sponsor, employees or directors of the Alternative Investment Fund or employees or directors of the Manager, has committed to invest at or above the prescribed investor commitment threshold and has furnished a waiver in respect of compliance with those clauses, in the manner specified by the Board.

Lease compliance obligation imposes joint and several tax liability for change of land use and mandates contractual disclosure.
Amendment substitutes the figure 50 with 20 for serial number 41 and replaces the conditional entry to require that leased plots be used for the allotted industrial or financial purpose, be monitored and enforced by the State Government, and that any violation or change of land use makes the original lessor, original lessee and any subsequent lessee, buyer or owner jointly and severally liable for the state tax on the upfront long term lease amount with applicable interest and penalty; lease and sale agreements must record the exemption and obligate compliance. Effective from January first, 2020.

Quarterly return option permits eligible small taxpayers to file quarterly returns while paying tax monthly, with deemed options available.
Notification designates registered persons with aggregate turnover up to the specified threshold as eligible to furnish returns quarterly while paying tax monthly, subject to conditions: the preceding month's return must have been filed when opting and the option, once exercised, continues unless revised. A taxpayer whose turnover exceeds the threshold during a quarter loses eligibility for quarterly filing from the first month of the succeeding quarter. A deemed-option applies to certain taxpayers based on prior return behavior, with an electronic window to change the default option.

Special deposit procedure for tax liability allows quarterly filers to pre-deposit proportional tax in early months of the quarter.
Notification allows certain registered persons who opt for quarterly returns to make early deposits in the electronic cash ledger in the first and/or second month of a quarter, equal to a proportion of the tax liability shown in the relevant preceding return; exemptions apply where ledger balances are adequate or liability is nil, and eligibility requires furnishing the return for a complete preceding tax period.

Commencement of Section 7 of Punjab GST Amendment deemed effective from 10 November 2020 by gubernatorial notification.
The Governor, exercising powers under the Punjab Goods and Services Tax (Amendment) Act, 2020 and on the recommendation of the Council, notified that section 7 of the Amendment Act shall be deemed to have come into force on 10 November 2020; the Department of Excise and Taxation issued the notification dated 8 January 2021 to effect this commencement.

Annual return optional for 2019-20: amendment extends optional filing to small taxpayers under prescribed turnover threshold.
The State Government amends G.O.Ms No.13, Revenue (CT-II) Department, Dt. 25-02-2020 by substituting "financial years 2017-18 and 2018-19" with "financial years 2017-18, 2018-19 and 2019-20", thereby extending the prior provision that made annual returns optional to include 2019-20 for taxpayers meeting the prescribed turnover criterion.

Re-export of leased aircraft and engines conditioned on DGCA deregistration and export permission under IDERA.
The amendment governs the re-export of leased aircraft/helicopter and engines/auxiliary power units (APUs) repossessed by overseas lessors, requiring deregisration by DGCA at the request of the IDERA holder under the Cape Town Convention, or arising from termination/cancellation of the lease, and makes such exports subject to DGCA or Ministry of Civil Aviation permission.

State tax rate amendment updates year references in specified table entries, taking effect from October and amending the principal notification.
The notification amends the Table in the State Tax (Rate) notification by substituting the figure "2020" with "2021" in column (5) for entries against serial numbers 19A and 19B, and provides that the amendment shall take effect from the first day of October, 2020.

Zero tax treatment for satellite launch services, exempting ISRO, Antrix and NSIL supplies from state GST.
Amendment adds serial 19C to the State Tax (Rate) notification, prescribing a nil state GST rate for satellite launch services supplied by the specified national space entities, enacted under the Telangana Goods and Services Tax Act, 2017 on the Council's recommendation and deemed effective from an earlier specified date.

E invoicing schema requirement now prescribes mandatory structured invoice fields and validation for GST electronic invoices.
The notification amends Delhi GST Rules by extending specific transitional dates, updating REG 01 to capture structured SEZ Unit and SEZ Developer registration data, revising GSTR 3A notice wording and inserting a system generated notice disclaimer, and substituting FORM INV 01 with FORM GST INV 1 - a comprehensive e invoice schema that prescribes mandatory and optional invoice fields, cardinalities, formats, supplier/buyer/payee data, item level details, tax breakup, document totals, transport and dispatch information, supporting documents and a digital signature field to enable machine validation and standardised electronic invoicing.

GSTR-1 quarterly filing deadline set for small taxpayers, specifying last dates for two quarters and follow-up notification.
Notifies a special quarterly filing procedure for registered persons below the small taxpayer turnover threshold to furnish outward supply details in FORM GSTR-1 for October-December 2020 and January-March 2021, prescribing specific last dates for submission for those quarters, and stating that monthly filing time limits for October 2020-March 2021 will be notified subsequently.

GST Form Amendments enable SMS-filed nil returns, mandate HSN digit rules, and revise auto-drafted inward-supply reporting.
Rules empower the Chief Commissioner to specify required HSN code digitisation for classes of taxpayers or supplies and exemptions; permit furnishing of Nil FORM GSTR-3B, Nil FORM GSTR-1, or Nil FORM GST CMP-08 via SMS with OTP verification; require audit and electronic filing of audited accounts and FORM GSTR-9C for specified turnover for FY 2018-19 and 2019-20; modify rule 138E temporal restrictions and soften rule 142 officer obligations. FORM GSTR-2A is fully substituted to present detailed auto-drafted inward-supply tables and accompanying instructions; multiple other GST forms and tables are amended to reflect reporting and reconciliation changes, including treatment for FY 2019-20.

Import policy amendment: selected fur and hide imports liberalised, subject to wildlife protections and health protocol compliance.
Specified tariff lines under Chapters 41 and 43 are amended from prohibited to free, remaining subject to the Wildlife (Protection) Act, 1972 and CITES and to chapter policy conditions; a new condition requires compliance with health protocols or sanitary conditions for hides and skins as prescribed by the Department of Animal Husbandry and Dairying.

GST penalty waiver for non-compliance under a notification, subject to future compliance from the specified date.
Penalty payable by a registered person under the Uttarakhand Goods and Services Tax Act, 2017 is waived for non-compliance with notification No. 331/2020/5(120)/XXVI(8)/2020/CT-14 dated 20 May 2020 during the period from 1 December 2020 to 31 March 2021. The waiver applies to the penalty under section 125 and is conditional upon compliance with the notification from 1 April 2021 onward.

GST time limit extension under Uttarakhand notification revised for compliance dates and made effective retrospectively.
Extension of the time limits in the proviso to clause (i) of the earlier Uttarakhand GST notification. The dates 29 November 2020 and 30 November 2020 are substituted by 30 March 2021 and 31 March 2021 respectively, with effect from 1 December 2020, under the Uttarakhand Goods and Services Tax Act, 2017 read with the Integrated Goods and Services Tax Act, 2017.

Exchange rate determination: specified foreign currency conversion rates set for import and export transactions effective from 8 January.
The Central Board determines the rate of exchange for conversion of specified foreign currencies into Indian rupees, distinct for imported and exported goods, and gives those rates effect from the stated effective date by superseding the prior notification, with schedules annexed listing the applicable conversion rates.

Common Adjudicating Authority appointment reallocates adjudication of specified show cause notices to designated officers under Customs Act provisions.
The Principal Director General, Revenue Intelligence, appoints named officers as a Common Adjudicating Authority to exercise the powers and duties of the originally listed adjudicating authorities for adjudication of specified show cause notices issued by the Directorate of Revenue Intelligence, identifying the reassignment for notices addressed to M/s. Dev Textile and to Sanjay Agarwal and others.

Special Court designation secures a dedicated forum for prosecution and trial of specified income tax offences under the Income tax Act.
The Central Government, exercising powers under sub section (1) of section 280A of the Income tax Act, in consultation with the Chief Justice of the High Court, designates an existing criminal court as the Special Court to try specified income tax offences for the State by formal notification issued through the revenue board.