NCLAT Delhi held that extension of limitation u/s. 19 of the Limitation Act, 1963 not admissible since there was no acknowledgement by Corporate Debtor. Accordingly, rejection of application under section 9 rightly rejected as time barred.
The Bombay High Court has dismissed a petition challenging a GST order, ruling that it was filed beyond the maximum condonable period.
Delhi High Court held that writ against OIO directing absolute confiscation of goods is not maintainable since use of the IEC of the Petitioner cannot prima facie be accepted to be merely an innocent instance of misuse.
The 56th GST Council approved a 2-tier structure with 5% and 18% rates, affecting cars, electronics, and household goods. This overhaul aims for simplification and consumer relief.
NCLT Mumbai held that application filed under section 7 of the Insolvency and Bankruptcy Code by Financial Creditor for initiation of Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor is admitted as debt and default thereof proved.
The GST Council has adjusted rates on various food items. UHT milk and Indian breads are now exempt, while chocolates and nuts have a reduced 5% rate.
The GST Council has reduced taxes on a range of agricultural inputs. Rates on acids, bio-pesticides, micronutrients, and tractor parts have been lowered to 5%.
56th Meeting of GST Council, convened on 3–4 September 2025, has announced significant amendments to India’s indirect taxation framework. Effective from 22 September 2025, these revisions aim to simplify the tax structure, reduce consumer burden on essential goods, and align taxation with broader economic and environmental objectives. Luxury and sin goods, however, face higher levies […]
The IFSCA has extended the deadline for capital market intermediaries to comply with new regulations for principal and compliance officers. The new deadline is December 31, 2025.
The Ministry of Finance has appointed 53 Special Public Prosecutors to handle cases on behalf of the Directorate of Enforcement under the Prevention of Money-laundering Act.
