The authority held that late filing of PAS-6 violates Rule 9A(8) and attracts penalty under section 450. Subsequent compliance does not erase earlier default.
Failure to file PAS-6 within time attracted penalties under section 450 despite subsequent compliance. Timely half-yearly reporting of share capital remains mandatory.
The government revised excise rules to formally define how maximum machine speed is calculated for tobacco packing machines. The key takeaway is a standardized formula based on RPM, gear ratio, and cups or funnels.
The adjudicating authority clarified that belated compliance after a show cause notice cannot nullify statutory violations. Penalties were upheld despite later rectification.
GST Network has issued an advisory introducing significant system enhancements in GSTR-3B beginning with the January 2026 tax period, primarily impacting interest computation, tax liability reporting, and input tax credit utilization.
The government has granted time-bound approval under section 35(1)(ii) enabling eligible donations to scientific research to qualify for tax benefits. The key takeaway is that deductions are available only with strict compliance on reporting and certification.
The regulator has abolished the LOC requirement for investor service requests. The key takeaway is quicker, safer direct credit of securities into demat accounts.
The circular enables fresh and previously rejected transfer requests to be processed during a defined period. Transfers will be credited only in demat form and locked in for one year.
The regulator restructured its advisory body with senior government officials, industry leaders, and domain experts. The decision strengthens consultative inputs on pension policy and governance.
The adjudicating authority held that omission of a registered valuer’s report in PAS-3 filings attracts penalty under section 39(5). Voluntary disclosure does not eliminate statutory liability.
