Renewal of recognition under securities contracts regulation granted, subject to regulator-imposed compliance conditions and time-limited validity.
Renewal of recognition is granted to India International Clearing Corporation (IFSC) Limited for a one-year period from 29 December 2019 to 28 December 2020 under the Securities Contracts regulatory framework, on grounds of trade, market and public interest, and subject to the conditions specified in the notification and any further conditions the regulator may prescribe or impose.

Listing disclosure threshold expanded, broadening entities covered; advance notice required for rights issues under amended listing regulations.
The amendment expands the cohort in regulation 34(f) from five hundred to one thousand listed entities for the applicable disclosure obligations and substitutes the same words in the proviso to clause (f). It also inserts a proviso in regulation 42(2) requiring listed entities to provide at least three working days' advance notice for rights issues, excluding the date of intimation and the record date; the amendment takes effect on publication in the Official Gazette.

QR code requirement for B2C invoices: dynamic QR availability and cross-reference satisfy the QR obligation for large taxpayers.
Invoices issued by registered persons to unregistered recipients (B2C invoices) must include a Quick Response (QR) code when the registered person exceeds the prescribed aggregate turnover threshold; an invoice is deemed to have a QR code where a Dynamic QR code is made available via a digital display and the invoice contains a cross-reference to the payment using that Dynamic QR code.

Commencement of amended GST rule set to take effect from April first, providing operative date for new compliance.
The Governor appoints the 1st day of April, 2020, as the date from which the provisions of rule 5 of the Bihar Goods and Services Tax (Fourth Amendment) Rules, 2019, made vide Commercial Taxes Department notification No. S.O. 321 dated 3rd July, 2019, shall come into force, by notification S.O. 403 dated 26 December 2019.

Invoice preparation requirement for high-turnover registered persons for supplies to registered persons under GST rule.
The Governor notifies that a registered person whose aggregate turnover in a financial year exceeds the notified threshold is required to prepare invoices in terms of the relevant sub rule of the Bihar GST rules for supply of goods or services or both to a registered person, imposing an invoice preparation obligation tied to turnover based classification of registered persons.

Common GST Electronic Portal designation enables specified e invoice portals for mandated invoice preparation under GST rules.
The notification designates ten specified URLs managed by the Goods and Services Tax Network as the Common Goods and Services Tax Electronic Portal for preparation of invoices under the Bihar GST rules, and provides that this designation takes effect from the first day of January, 2020.

E-invoicing requirement: notified Bihar registrants must obtain an Invoice Reference Number and use FORM GST INV-01.
The amendment mandates that a government-notified class of registered persons must prepare invoices containing the particulars in FORM GST INV-01 and obtain an Invoice Reference Number by uploading the invoice data on the Common GST Electronic Portal as specified; invoices issued by such persons otherwise will not be treated as invoices, and the standard invoice provisions in the rule do not apply to invoices prepared in this electronic manner.

Annual GST return deadline extended to accommodate technical difficulties, amending statutory due date for affected taxpayers.
The Order substitutes the previously prescribed due date in the Explanation to the annual-return provision with a later date, extending the statutory deadline for furnishing annual GST returns to provide relief to registered persons affected by electronic filing technical difficulties during the initial transition period.

Annual return filing deadline under GST extended to address technical difficulties for affected registered persons.
The Order amends the Explanation to section 44 of the Central Goods and Services Tax Act to extend the prescribed deadline for electronic furnishing of the annual return, addressing technical problems that prevented certain registered persons from filing the annual return for the period from 1 July 2017 to 31 March 2018 and thereby removing the resulting difficulty in compliance.

Composition scheme option for small registered persons subject to eligibility exclusions and clarified turnover and filing rules.
The Act creates an optional composition scheme for small registered persons allowing payment of tax at a prescribed capped rate subject to exclusions (inter State supplies, supplies via e commerce operators required to collect tax, notified manufacturers/suppliers, casual and non resident persons, and shared PAN registrations), clarifies aggregate turnover and turnover in State for eligibility and tax computation excluding certain exempt interest/discount services, mandates Aadhaar authentication or alternate identification for registration (with exceptions), requires prescribed digital payment modes for certain suppliers, revises return filing/payment timelines and electronic ledger transfer rules, aligns state advance ruling appeals with the National Appellate Authority, and adds an anti profiteering penalty provision and retrospective schedule amendment for uranium ore concentrate.

Late fee waiver for delayed GSTR-1 filings allowed if taxpayers submit returns within the specified compliance window.
Waiver of late fee is provided for registered persons who failed to furnish details of outward supplies in FORM GSTR-1 for the months/quarters from July 2017 to November 2019, provided they furnish those details in FORM GSTR-1 between 19th December, 2019 and 10th January, 2020; the waiver is effected by an amendment to the prior state notification and is deemed to have come into force with effect from the day of December, 2019.

Tripura State GST amendment ordinance notified for general information after formal promulgation by the Governor.
The Tripura State Goods and Services Tax (2nd Amendment) Ordinance, 2019 was promulgated by the Hon'ble Governor of Tripura on 24 December 2019 and published by the Law Department for general information. The notification records the formal issuance of the Ordinance under the State law framework.

Restriction on use of electronic credit ledger: Commissioner may block debits where input tax credit appears fraudulent, subject to review.
The rules amend the Meghalaya GST Rules by reducing the figure in rule 36(4) from 20 per cent. to 10 per cent. (effective 1 January 2020); insert rule 86A empowering the Commissioner or an authorised officer to restrict debits from the electronic credit ledger where input tax credit appears fraudulently availed or ineligible on specified grounds, permit restoration of debits when conditions cease, and provide that such restriction expires after one year; and add to rule 138E a clause capturing failure to furnish outward supply statements for any two months or quarters (effective 11 January 2020).

Late fee waiver for delayed GSTR 1 filings if furnished between 19 Dec 2019 and 10 Jan 2020.
Amendment inserts a proviso waiving the late fee payable under section 47 for registered persons who failed to furnish details of outward supplies in FORM GSTR-1 for July 2017 to November 2019, provided those details are furnished in FORM GSTR-1 between 19th December 2019 and 10th January 2020; the amendment is deemed effective from 19th December 2019.

Annual return deadline extension for registered persons permits additional time to file due to technical issues.
The Order amends the Explanation to section 44 of the Meghalaya Goods and Services Tax Act, 2017 by substituting the previously prescribed deadline with a later date, thereby granting additional time for registered persons who faced technical difficulties to furnish the annual return electronically for the affected period.

Extension of GSTR-7 due date for certain registered taxpayers; new electronic filing deadline applies in specified northeastern states.
Amendment provides that the return in FORM GSTR-7, required to be filed by persons deducting tax at source under section 51 for November 2019 whose principal place of business is in Assam, Manipur or Tripura, shall be furnished electronically through the common portal on or before the 25th December, 2019. The notification is deemed to have come into force from the 10th December, 2019.

Return filing deadline extended for GSTR-3B for registered persons in Assam, Manipur, Meghalaya and Tripura.
A proviso amends the principal notification to require registered persons with principal places of business in Assam, Manipur, Meghalaya or Tripura to furnish their November 2019 FORM GSTR-3B electronically via the common portal by the extended date specified; the amendment is effected under delegated tax-rule powers and is deemed to have retrospective commencement from the notified date.

Extension of GSTR-1 filing deadline for eligible registered persons in specified states to allow delayed November filing.
Inserts a proviso extending the time limit for furnishing details of outward supplies in FORM GSTR-1 for registered persons whose principal place of business is in Assam, Manipur or Tripura and who have aggregate turnover of more than 1.5 crore rupees in the preceding or current financial year, in respect of the month of November 2019, and declares the amendment effective from 11th December 2019.

Restrictions on electronic credit ledger use allow tax authorities to block debits where input tax credit appears fraudulent or ineligible.
An amendment lowers the prescribed proportion in rule 36 and adds a new rule empowering a Commissioner-level officer to prohibit debit from the electronic credit ledger where input tax credit is suspected as fraudulently availed or ineligible-including credits based on documents from non-existent suppliers, without receipt of goods or services, where tax charged was not paid, or where required documents are absent-and to restore debits once conditions no longer exist; such restrictions expire after one year. The rules also classify failure to furnish outward supply statements for two tax periods as non-compliance under return-filing provisions.

Late fee waiver for delayed GSTR-1 filings permits compliance relief when eligible returns are filed within the prescribed remedial window.
The notification waives the late fee payable for failure to furnish details of outward supplies in FORM GSTR-1 for periods from July 2017 to November 2019, provided the registered person furnishes the said details in FORM GSTR-1 within the remedial window of 19th December, 2019 to 10th January, 2020; the amendment is effected by inserting a proviso into the principal notification and is deemed effective from 19th December, 2019.