Latest Articles
FAQs on Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)
Company Law : The scheme provides a last opportunity for defaulting companies to file pending returns and financial statements with reduced pena...
Certify the Future? The Dangerous Rise of Unofficial Bank Certificates for CAs
CA, CS, CMA : Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, hi...
ITC Not Blocked on Leasehold Transfers Without Construction: HC Quashes GST Notice
Goods and Services Tax : The Court ruled that ITC on GIDC charges is allowable where no construction is involved. It also held that Section 74 proceedings ...
Analysis of Notifications and Circulars for Week Ending 19th April 2026
CA, CS, CMA : The update discusses GST rulings on ITC and refunds, income tax relief interpretations, and insolvency reforms. It also covers dis...
GST Recovery Against Legal Heir Invalid Without Prior Adjudication Under Law
Goods and Services Tax : The court held that recovery cannot proceed against a legal heir without determining liability under Section 93, reinforcing due p...
Latest News
ICSI Invites Stakeholder Feedback to Revise Company Secretary Course Syllabus
Company Law : The Institute has proposed syllabus changes to align with modern industry, regulatory, and technological needs. Stakeholders are i...
Representation on Cancellation of GST Registration & Refund Processing
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Mastermind Arrested for ₹1,825 Crore GST Refund Fraud via Fake ITC & Bogus Exports
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
India–Korea MoU Signed to Boost Financial Regulatory Cooperation
Finance : The issue highlights a new agreement between financial regulators of both countries. The key takeaway is that the MoU promotes col...
Latest Judiciary
Section 68 Addition Deleted in Search Case – No Incriminating Material Dumb Documents Rejected
Income Tax : The Tribunal noted that statements relied upon were later retracted and lacked corroboration. It held that such statements cannot ...
Reassessment Quashed for Lack of Jurisdiction – AO Became Functus Officio After Section 127 Transfer
Income Tax : The issue was whether reassessment initiated by a non-jurisdictional AO is valid. The tribunal held that proceedings are void ab i...
Section 68 Addition Deleted – Suspicion on Lender’s Finances Cannot Replace Evidence
Income Tax : The Tribunal noted that loans were part of regular business transactions with repayments in the same year. It held that such condu...
Bogus Purchase Addition Restricted to 15% – Entire Disallowance Held Unsustainable
Income Tax : The issue was whether entire purchases can be disallowed as bogus under Section 69C. The tribunal held that when sales are accepte...
Consistency Over Technicalities – ITAT Allows Actuarial Pension Provision & Rejects Mechanical Disallowances
Income Tax : Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical ...
Latest Notifications
Hirnoda (Jaipur) Notified for Import Export Handling, Kishangarh Entry Renumbered
Custom Duty : The issue involved expanding customs-notified locations to improve trade logistics. The amendment adds Hirnoda as an authorized po...
Instructions for time bound processing of RoDTEP and RoSCTL scrolls
Custom Duty : This instruction tackles delays in rebate disbursal by enforcing a strict three-day processing timeline. The key takeaway is that ...
DIR-3 KYC Delay Now Costs ₹5,000 and amendement costs ₹500
Company Law : The issue concerns compliance delays in director KYC filings. The amendment imposes a ₹5,000 penalty for late submission, reinfo...
Failure to Verify Wilful Defaulter Status Leads to 2-Year Suspension of IP
Corporate Law : The issue was whether an insolvency professional fulfilled due diligence obligations under Section 29A. The Committee held that fa...
Ship Leasing Rules Amended Due to Ban on Asset Management Services in IFSCs
Finance : The issue was regulatory overlap after asset management services were restricted. The Authority removed a conflicting provision, e...
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FAQs
The scheme provides a last opportunity for defaulting companies to file pending returns and financial statements with reduced penalties. It emphasizes that failure to comply within the window may lead to strict regulatory action, including strike-off.
This explains why operating a payment system without RBI approval is prohibited under law. The framework ensures only compliant and vetted entities can handle financial transactions, safeguarding systemic integrity.
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
