The appellate authority held that RTI applications cannot seek interpretations or clarifications on legal issues like treatment of flats in CIRP. Only existing records held by authorities can be disclosed under the RTI Act.
The issue concerns delayed response to an RTI application beyond the prescribed period. It was held that authorities must adhere to timelines and ensure timely disposal of information requests.
Both domestic and import revenues contributed to GST growth, alongside increased refunds. The figures highlight improved tax administration and transparency. It shows a balanced revenue structure.
The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers effective from 1 April 2026. It mandates preparation of financial statements under Ind AS with parallel reporting of existing financial information for at least two years to ensure a smooth transition. Insurers must submit quarterly financial statements […]
DGFT shifts multiple jewellery categories from Free to “Restricted” import status under CTH 7113. The key takeaway is that importers must now obtain licenses, with no relief for prior contracts or shipments.
The DGFT has extended its EODC issuance drive until May 31, 2026 to clear pending applications under AA and EPCG schemes. The move emphasizes faster disposal of old and deficient cases while reducing compliance burden on exporters.
The notification permits export of key commodities like rice, sugar, and eggs to Maldives within specified limits. It exempts these exports from restrictions while ensuring compliance with environmental and quality standards.
RBI directs banks and financial institutions to act on a newly added UNSC sanctions entry under UAPA provisions. The circular emphasizes freezing accounts and ensuring no financial access to listed individuals linked to terrorism.
RBI mandated structured reporting of guarantees using specified forms under FEMA 2026 regulations. The circular ensures standardised compliance and timely disclosures. The key takeaway is mandatory reporting through authorised channels within prescribed timelines.
RBI shifted processing of overseas investment references from central office to regional offices. This change aims to improve efficiency and reduce processing delays. The key takeaway is decentralised handling based on UIN mapping.
