GST rate cuts on textiles (5%), handicrafts, coir, and industrial goods will benefit Tamil Nadu. Consumers save 6–11%, while sectors like autos, knitwear, and defense gain lower input costs, supporting $10+22 lakh jobs.
NCLAT Delhi held that demand made by the EPFO on the basis of an inspection report made after initiation of moratorium is not enforceable as Section 14(1) of the IBC prohibits the initiation or continuation of assessment during the moratorium period.
BSE notice details a new framework for companies listed on multiple exchanges, allowing a single exchange to process applications for penalty waivers.
Madras High Court held that MEIS would clearly qualify as an instrument u/s. 28AAA of the Customs Act bestowing financial or fiscal benefits, however, only Director General of Foreign Trade [DGFT] is empowered to cancel or suspend the same.
ITAT Hyderabad held that reasoning given by CIT(A) for deletion of addition made u/s. 69A of the Income Tax Act by Assessing Officer towards cash payment is contrary to material on record and cannot be accepted.
ITAT Mumbai held that additional evidence demonstrating that no tax advantage accrued to assessee owing to continuous losses needs verification. Accordingly, matter of imposing penalty u/s. 271(1)(c) remanded back.
Scope of appeal under Section 28KA of the Customs Act, 1962, was limited, as the ruling obtained was binding on the persons mentioned in Section 28J of the Customs Act, 1962.
EPFO introduces a revamped Electronic Challan-cum-Return (ECR) from September 2025 with system-based validations, revised filing options, and payment flexibility.
The RBI circular details a special clearing in the Cheque Truncation System (CTS) on October 3, 2025, to prepare for the transition to continuous clearing starting Oct 4. It specifies new session timings and codes.
RBI allows StCBs and CCBs to invest up to 5% of owned funds in NABARD’s Shared Service Entity. These investments are exempt from non-SLR prudential limits.
