The notification sets nil duty on petrol and ₹18.5 per litre on diesel under special excise. It applies only to exports with specific exclusions for PSU oil company exports.
Notification No. 05/2026-Central Excise reduces Special Additional Excise Duty on petrol and diesel for domestic consumption; exports excluded.
The company relied on old resolutions for ongoing related party transactions. The authority held that fresh approvals are mandatory, imposing penalties for non-compliance.
The company continued related party transactions based on old approvals. The authority held that fresh approvals are mandatory, leading to penalties for non-compliance.
The issue involved delay in issuing TDS certificates due to technical issues. The Board extended the deadline to provide relief. The takeaway is that system glitches can justify compliance extensions.
The issue involved non-compliance with approval requirements for related party transactions. The authority held that absence of Board resolution violates Section 188. The key takeaway is that proper approvals are mandatory for such transactions.
The issue involved non-compliance with mandatory appointment of a Company Secretary. The authority imposed penalties for violation of Section 203. The takeaway is that eligible companies must appoint key managerial personnel without exception.
The issue involved non-compliance with mandatory internal auditor appointment requirements. The authority imposed penalties as the company exceeded the turnover threshold but failed to comply. The takeaway is that audit requirements are strictly enforced.
The ROC imposed penalties on directors for not maintaining the mandatory register of members. The key takeaway is that statutory registers must be maintained at all times. Non-compliance attracts fixed penalties.
The case addresses non-disclosure of directors’ interests in related entities. Authorities imposed penalties, reinforcing strict compliance with Section 184 disclosure requirements.
