GSTR-3B filing deadlines set with staggered state-wise due dates and mandatory electronic ledger payment by the return due date.
GSTR-3B returns for October 2020-March 2021 must be filed electronically by staggered, state-linked due dates; generally by the 20th of the succeeding month, with later cut-offs for taxpayers below the turnover threshold in specified geographic groups. Tax liabilities must be discharged by debiting the electronic cash or electronic credit ledger as applicable, and interest, penalty, fees or other amounts must be debited from the electronic cash ledger, not later than the last date for furnishing the return, subject to the Act's payment provisions.

GSTR-1 filing deadline extended for high-turnover registered persons to the month succeeding each tax period.
The Commissioner extends the time for furnishing details of outward supplies in FORM GSTR-1 for registered persons whose aggregate turnover exceeds the specified high-turnover threshold, for each month from October 2020 to March 2021, to the eleventh day of the month succeeding each such month; the time limit for furnishing related returns under the recipient-return provision for the same months will be notified subsequently in the Official Gazette.

Customs tariff amendment adjusts classification and zero-duty treatment for specified polybutadiene rubber imports under the India-Korea CEPA.
Substitutes the entry for serial number 342A to read "Polybutadiene Rubber excluding titanium and lithium grades," inserts a new serial number 342B for tariff heading 400220 covering all goods other than those under 342A with a nil duty rate, and amends the second proviso, clause (b) to refer to both serial numbers 342A and 342B; implemented under the Customs Act and India-Korea CEPA Bilateral Safeguard Rules, 2017.

Manager responsibility for fund investments now includes joint liability with investment committee and investor consent for external members.
AIF regulations now require the Manager's key investment team to include at least one person with five years' relevant experience and one person with specified professional qualifications (or the same person may satisfy both). The Manager retains primary responsibility for investment decisions but may form an Investment Committee whose members are jointly and severally responsible with the Manager; external committee members not disclosed at onboarding require consent of investors holding at least seventy five percent by value. The Board may add further conditions.

Market manipulation: diversion or misutilisation of listed company assets and accounting artifices deemed fraudulent and unfair trade practices.
Inserts an explanation into regulation 4(1) clarifying that diversion, misutilisation or siphoning of a listed company's assets or earnings, concealment of such acts, and any device, scheme or artifice to manipulate the books of account or financial statements that directly or indirectly manipulate the price of the company's securities shall be deemed manipulative, fraudulent and an unfair trade practice in the securities market.

GST amendment updates invoicing, input tax credit, penalties, and force majeure time extensions under the Assam regime.
The Assam Goods and Services Tax (Amendment) Act, 2020 revises the Assam Goods and Services Tax Act, 2017 by updating territorial references, composition levy provisions, input tax credit rules, registration cancellation, invoicing requirements, tax deduction certification, penalties, offence language, transitional credit procedures, and the power to extend statutory deadlines in force majeure situations. It also extends the limitation period under the removal of difficulty provision, omits specified words from Schedule II, and repeals the corresponding Ordinance while saving actions taken under it.

Tax exemption for satellite launch services exempts supplies by ISRO, Antrix and NSIL under Rajasthan SGST.
Exemption of satellite launch services from Rajasthan SGST by inserting a new exemption entry for satellite launch services supplied by Indian space-sector entities, effected through an amendment to the State exemption notification pursuant to statutory powers and the GST Council's recommendation, with an operative date specified in the notification.

Arm's length price deemed equal to transaction price where variation falls within minimal thresholds for specified trading categories.
Notification under the third proviso to section 92C(2), read with rule 10CA proviso, deems the actual transaction price to be the arm's length price for the specified assessment year where the variation between the statutory arm's length price and the transactional price falls within prescribed minimal thresholds for wholesale trading and other cases. "Wholesale trading" is defined by two objective criteria: purchase cost of finished goods being at least eighty per cent of total trading cost, and average monthly closing inventory being ten per cent or less of sales for the trading activity.

GSTR-3B due dates adjusted for Oct-Mar with standard 20th and smaller taxpayers 24th; payments via e ledgers required.
Specifies that FORM GSTR-3B for October 2020-March 2021 must be filed electronically through the common portal by the twentieth day of the following month, with taxpayers below a turnover threshold allowed until the twenty fourth day. Registered persons must discharge tax by debiting the electronic cash ledger or electronic credit ledger as applicable, and discharge interest, penalty, fees or other amounts by debiting the electronic cash ledger, not later than the last date for furnishing the return.

Due date extension for GSTR-1 filings by high-turnover registered persons for specified months, shifting submissions to the succeeding month.
Extension of the time limit for furnishing FORM GSTR-1 is prescribed for registered persons above the aggregate turnover threshold; for each month from October 2020 to March 2021 such taxpayers may furnish outward supply details in FORM GSTR-1 by the eleventh day of the month succeeding the relevant month, while the deadline for filing related returns will be notified subsequently; the notification is effective from 16 October 2020.

Anti-dumping duty on polyester yarn imports maintained, extending the duty's operation for affected imports through end-November.
Extension of anti-dumping duty on fully drawn, fully oriented, spin draw and flat polyester yarns imported from China and Thailand by inserting a provision that the existing notification shall remain in force up to and including 30 November 2020, following a statutory review and request for continuation under the Customs Tariff legislative review procedure.

Return Filing Deadlines: GSTR-3B monthly returns due by set monthly deadlines, with relaxed timeline for small taxpayers.
Prescribes monthly filing deadlines for FORM GSTR-3B for April-September 2020 to be furnished electronically through the common portal by the twentieth day of the succeeding month, with an extended twenty fourth day deadline for eligible small taxpayers. Requires registered persons to discharge tax liabilities via the electronic cash or credit ledger and other liabilities via the electronic cash ledger not later than the return due date. Notification effective from 23 March 2020.

Exemption of satellite launch services: Nil-rated treatment under GST for specified public-sector suppliers, removing taxable liability.
The State Government inserted a new entry (19C) into its GST exemption notification to make satellite launch services supplied by specified public-sector entities Nil-rated for the applicable tax components under the Odisha Goods and Services Tax Act, 2017, effective retrospectively from the stated effective date and made pursuant to GST Council recommendation and the State's statutory powers.

Time limit extension for goods sent on approval for sale or return: compliance window extended to end of October.
Where any time limit for completion or compliance of any action specified or notified under the provision governing goods sent or taken out of India on approval for sale or return falls during the period from 20 March 2020 to 30 October 2020 and such action has not been completed, the time limit for such completion or compliance is extended up to 31 October 2020 by insertion of a further proviso in the earlier Tripura SGST notification.

Late fee waiver for delayed GSTR-10 returns allows reduction of excess fees where return filed within notified window.
The Government, using powers under the State GST Act, waives the portion of late fee payable under the statutory return-filing provision that exceeds two hundred and fifty rupees for registered persons who failed to furnish FORM GSTR-10 by the due date but furnish that return within the specified notified period.

Late fee waiver for delayed GSTR 4 returns allowed when returns are filed within the specified compliance window.
The amendment waives late fees under section 47 for FORM GSTR 4 returns for quarters July 2017-March 2019: fees in excess of two hundred and fifty rupees are waived, and fees are fully waived where the return shows nil central tax, provided the return is furnished within the specified filing window in 2020.

Extension of compliance date: Goa GST notification deadline extended to 31 October under Section 44 and Rule 80.
Amendment substitutes the operative compliance date in Notification No. CCT/26-2/2018-19/56/255 dated 22 May, 2020, extending the deadline from 30th September, 2020 to 31st October, 2020, effected by the Commissioner of State Tax pursuant to statutory powers and applicable rules.

Satellite launch services exemption: GST nil rate for services by designated national space entities, effective mid-October.
A new entry was inserted in the State GST rate notification prescribing a nil rate for satellite launch services when supplied by specified national space entities, thereby exempting such services from GST; the amendment follows GST Council recommendations and is deemed effective from 16 October 2020.

GST exemption for satellite launch services extends Nil tax treatment to launches by designated Indian space entities under Karnataka rules.
Insertion of a new notification entry classifies satellite launch services supplied by Indian Space Research Organisation, Antrix Corporation Limited or New Space India Limited as Nil-rated and Nil compensation cess under the Karnataka SGST schedule, pursuant to powers under the Karnataka Goods and Services Tax Act, 2017 and effective from mid-October 2020.

Qualified institutional buyers resolution: companies may pass a single annual special resolution for all allotments to QIBs.
The amendment to rule 14(1) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 provides that for offers or invitations to qualified institutional buyers, a company need only pass a previous special resolution once a year to cover all allotments to such buyers during that year, with the rules commencing on publication in the Gazette.