IRDAI has amended its earlier notification to prescribe a 4% obligatory cession and require the entire cession to be placed with GIC Re. The amendment excludes premiums ceded to specified insurance pools from the cession requirement.
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.
GSTAT instructed scrutiny officers not to raise defects where appellants have uploaded the required documents in prescribed form. The move aims to simplify the appeal filing process on the GSTAT Portal.
The amendment clarifies that NRIs and OCIs investing on a repatriation basis must use designated repatriable rupee accounts for specified transactions. The key takeaway is that the RBI has strengthened monitoring mechanisms to improve transparency and compliance in foreign investments.
RBI has updated FEMA regulations to modify payment modes, sale proceeds remittance, and reporting requirements for NRIs, OCIs, and other individual foreign investors. The amendment introduces designated repatriable accounts and revised LEC reporting obligations.
CBIC directed field officers to implement MeitY’s revised registration requirements for standalone hard disk drives. The new framework becomes applicable to specified HDDs from 05 November 2026.
Equipment using three-phase power, higher current ratings, larger dimensions, or heavier configurations may be exempt from compulsory registration if annual imports or production remain below 100 units per model.
The First Appellate Authority found that the appellant had indeed paid Rs. 2,500 to the IBBI despite the CPIO stating otherwise. The Board was directed to refund the amount in accordance with applicable grievance regulations.
The IBBI held that while information available with a public authority can be accessed under the RTI Act, the CPIO is not required to collate or present it in a format preferred by the applicant. Publicly available information need not be recompiled for RTI purposes.
The IBBI appellate authority held that information not maintained by the Board cannot be disclosed under the RTI Act. The ruling reiterates that public authorities are only required to provide records actually held by them.
