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.
SEBI now requires draft abridged prospectuses and QR code-linked disclosures in IPO documents. The move enhances investor access to key information and improves transparency.
Additional Commissioner of Central Tax Vs Vigneshwara Transport Company (Karnataka High Court) SCN u/s 74 GST Valid even if based on Material from allegedly Illegal Search or from another Commissionerate-Karnataka HC The Karnataka High Court held that proceedings u/s 74 of the CGST Act are independent adjudicatory proceedings & are not dependent on validity of […]
The adjudicating authority penalized a company for not maintaining the required number of directors liable to retire by rotation. The violation continued for over 700 days before being rectified.
A new amendment effective from January 2026 limits GST interest to the unpaid portion of tax after considering ITC and minimum cash ledger balance. The change significantly reduces the interest burden for taxpayers.
GST authorities often cancel registrations retrospectively after detecting fake entities, leading to ITC denial for genuine buyers. Courts have ruled that ITC cannot be denied solely on retrospective cancellation without proving bogus transactions.
The IBC gives financial creditors exclusive voting power in resolution plans, while operational creditors remain bound by decisions they cannot influence. Courts have upheld this structure as long as liquidation value protection under Section 30(2)(b) is maintained.
The guideline clarifies that GSTAT appeals must be filed online with proper formatting, documentation, and procedural compliance for successful registration.
