CBIC has issued a circular allowing stranded Indian nationals to bring pet dogs and cats into India with relaxed documentation requirements. The one-time measure addresses extraordinary circumstances in war-affected regions.
The new framework allows FinTech entities to test innovative financial solutions under regulatory supervision. It replaces the earlier 2022 sandbox guidelines with expanded testing mechanisms.
The government has changed the import policy of specific studded silver jewellery items from Free to Restricted. Importers must now obtain authorization for these products.
SEBI has modified SGF coverage norms for commodity derivatives clearing corporations, requiring stress testing based on the simultaneous default of at least three clearing members. The move aims to strengthen risk management while easing compliance.
The Income Tax Department acknowledged incorrect ‘significant transaction’ details in some advance tax reminder emails. Taxpayers are advised to ignore the earlier communication and verify details on the Compliance Portal.
Courts have addressed whether time spent pursuing rectification affects the limitation for GST appeals. The rulings aim to ensure taxpayers do not lose their right to appeal due to rectification proceedings.
Dormant company status allows inactive companies to maintain legal existence with minimal compliance. The provision helps businesses reduce costs while planning future operations.
Budget 2026 proposes a new penalty framework for failure to report crypto-asset transactions under section 509. Reporting entities may face ₹200 per day penalty or ₹50,000 for inaccurate information.
SEBI now requires investigations into SME IPO irregularities to reach a regulatory milestone within 180 days. The rule aims to prevent fund diversion and ensure faster enforcement in capital markets.
ICEGATE is the official CBIC portal that allows importers and exporters to manage customs processes online. Registration enables businesses to file documents, track shipments, and pay duties electronically.
