The Court held that a rectification application under Section 161 of the CGST Act cannot be rejected without following principles of natural justice. The rejection order was set aside and the matter remanded for fresh adjudication after a hearing.
IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporations in IFSCs. The move simplifies compliance and strengthens regulatory clarity across the IFSC ecosystem.
IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aims to improve compliance monitoring and regulatory transparency.
The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and the Bank for International Settlements. The key takeaway is a new tax incentive framework effective from 1 April 2026.
The Lakshadweep Excise Regulation, 2026 establishes a comprehensive framework for licensing, manufacture, sale, transport, and consumption of liquor. The Regulation introduces strict compliance requirements, enforcement powers, and penalties for violations.
RBI has amended FEMA export regulations to reduce the time available for realization and repatriation of export proceeds from 15 months to 9 months. Exporters must now ensure faster receipt of export earnings and stricter compliance with foreign exchange rules.
CBIC exercised its powers under the Customs Act, 1962 to appoint a common adjudicating authority for two customs proceedings involving the same noticee. The Chennai Import Customs Commissionerate will conduct the adjudication.
Appointment of Common Adjudicating Authority in the case of M/s. Hewlett Packard Enterprise India Private Limited, (IEC: 0715007190) – Consolidated Adjudication of Multiple Show Cause Notices arising from SVB Investigation Report No.18/2024 dated 28.08.2024 The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 50/2026-Customs (N.T.) dated 5 June 2026, has appointed a […]
The Bombay High Court held that detention beyond the statutory period before production before a Magistrate violated Article 22(2) of the Constitution and Section 57 Cr.P.C. The arrest and remand orders were declared illegal.
The Bombay High Court held that the arrest memos did not satisfy the statutory requirements for arrest under the CrPC. The Court granted interim bail after finding non-compliance with mandatory legal safeguards.
