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.
The RBI has amended FEMA Cross Border Merger Regulations by replacing references to NCLT with the broader term Competent Authority. The change ensures that merger approvals granted by any authority empowered under the Companies Act are recognized under FEMA.
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.
CCPA fined digital platforms for using interface designs that influenced consumer choices without clear and informed consent. The key takeaway is that manipulative digital practices can amount to unfair trade practices under consumer protection laws.
Capital gains from compulsory acquisition are generally taxed when compensation is received rather than when the land is acquired. The provisions also prescribe separate taxation for enhanced compensation and judicial awards.
This guide explains how technical and procedural FCRA violations can be settled through compounding before prosecution is initiated. It outlines eligibility conditions, penalties, and compliance requirements for organizations seeking relief.
The guide explains that rental income derived from a property created using foreign contribution is itself foreign contribution and must be deposited only in an FCRA account. It discusses compounding options, penalties, and corrective measures available under FCRA.
The guide explains why NGOs, trusts, and Section 8 companies must obtain FCRA approval before accepting foreign contributions. It also details eligibility conditions, registration procedures, and ongoing compliance requirements.
The Tribunal found that the Assessing Officer ignored the statutory threshold for reopening assessments beyond three years. The ruling emphasizes that reassessment notices issued contrary to limitation provisions are void in law.
