IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transparency, comparability, and global alignment.
The Government clarified that despite rupee depreciation, strong forex reserves and export competitiveness offset risks. The overall economic impact depends on multiple macroeconomic factors.
The Government is actively reviewing the economic impact of the West Asia conflict on oil prices and supply chains. Coordinated measures aim to mitigate risks and maintain stability.
CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance determination of pricing methods, minimizing litigation and double taxation risks.
IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers on compliance, audit requirements, and financial reporting clarity.
The circular mandates faceless assessment for Bills of Entry filed by SEZ units clearing goods to DTA. It ensures uniformity and efficiency while retaining post-assessment roles with jurisdictional officers.
The authority penalized the company for delayed filing of MGT-6 beyond the prescribed timeline. It held that even a short delay constitutes a violation under Section 89(7).
The authority penalized the company for failing to file MGT-14 within 30 days of passing a resolution. It held that delayed compliance still attracts penalties under Section 117(2).
A massive delay in filing BEN-2 for significant beneficial ownership led to maximum penalties. The authority held that prolonged non-compliance attracts strict penal consequences.
The Government extended the free import policy for Tur to ensure adequate supply in the domestic market. This helps control price volatility and supports food security.
