Summary of India’s recent economic reforms (GST, Income Tax, IBC) and the ICAI’s role, including the upcoming WOFA 2.0, new global training, and strategic MoUs for nation-building.
The NCH received 3,981 GST-related calls post-2025 reforms. Grievances mainly concerned milk, electronics, LPG, and petrol prices due to common tax misperceptions.
RBI proposes a draft External Commercial Borrowing (ECB) framework linking limits to net worth or USD 1 billion, simplifying MAMP, and easing end-use rules.
Authority referred the case of Mr. Chandran R for further investigation after observing improper exclusion of Rayagada land from valuation reports and issuance of a misleading letter stating assets’ value as zero.
RBI circular revises Merchanting Trade Transaction (MTT) rules, increasing the time limit for the foreign exchange outlay from four months to six months, effective immediately.
The International Financial Services Centres Authority (IFSCA) issued the 2025 Amendment Regulations to its Payment and Settlement Systems rules, which take effect upon publication in the Official Gazette.
Customs Notification 59/2025 (N.T.) sets Rules for Determination of Origin of Goods under the India-EFTA TEPA, effective Oct 1, 2025, defining wholly obtained and sufficient processing.
Gauhati High Court directs GST authorities to consider the restoration of a cancelled GST registration, even after the 270-day limitation period, provided the taxpayer furnishes all pending returns and pays dues, interest, and late fees.
The Calcutta High Court dismissed a writ petition by GSPS Developers Private Limited challenging the attachment of its bank account under the GST Act.
The Orissa High Court quashed an ex parte assessment order under Section 73 of the GST Act against OLA Fleet Technologies Private Limited,
