PFRDA has introduced a revised audit framework for Atal Pension Yojana Points of Presence, linking audit frequency to subscriber base and prescribing new compliance timelines and reporting requirements.
Uttarakhand AAR held that services relating to municipal water supply functions qualified for GST exemption under Notification No. 12/2017. The ruling clarifies how Article 243W functions influence tax treatment.
ICSI has advised members to verify and update their contact and address details maintained in the Institute’s records. Accurate information is essential to ensure seamless election-related communication and access to electronic voting facilities.
The Disciplinary Committee held that non-disclosure of the assignment of assets worth over ₹5,456 crore in Form H amounted to a serious lapse in transparency. It emphasized that material details affecting creditor recoveries must be accurately reflected in compliance certificates submitted to the Adjudicating Authority.
MCA notifies the New Development Bank under Section 2(11)(ii) of the Companies Act, 2013, specifying it as a body corporate for the Act’s purposes.
The NCLT Allahabad Bench allowed dispensation of meetings for shareholders and creditors in a merger involving wholly owned subsidiaries. The Tribunal held that consent affidavits, absence of creditors in transferor companies, and lack of prejudice to stakeholders justified the relief.
CBIC has exempted Merchant Overtime charges on customs clearance of international cruise passengers and their baggage at 24×7 notified ports. The move aims to facilitate cruise tourism and ensure uniform implementation across customs formations.
The RBI has mandated that NBFCs obtain explicit customer consent before selling financial products and prohibited misleading sales practices. The Directions strengthen consumer rights by introducing compensation mechanisms for proven cases of mis-selling.
RBI has simplified the regulatory framework for NBFCs undertaking agency business by removing prior approval requirements in certain cases. The key takeaway is that easier market access now comes with stricter conduct and customer protection obligations.
Stakeholders identified persistent issues in GST registration, cancellations, and refund processing affecting MSMEs. The consultation recommended procedural simplification and stronger taxpayer safeguards.
