GSTN clarifies that the Invoice Management System (IMS) implementation does not change GSTR-2B auto-population or its timing. Credit Note handling offers new flexibility for recipients.
ROC Mumbai levied a ₹25,000 penalty for failure to attach proof of identity and address of a newly appointed director in Form DIR-12, violating Section 152(5) read with Rule 8. The lapse was treated as an inadvertent but punishable compliance error.
Registrar of Companies, Mumbai, penalized a private company and its two directors ₹5,000 each for inaccurately stating the number of board meetings in the FY 2020–21 annual return, violating Section 92(1)(f) read with Section 450 of the Companies Act, 2013.
The Government of India has approved an increase in Dearness Relief (DR) for Central Pensioners/Family Pensioners from 55% to 58% of basic pension, effective July 1, 2025. This rate applies to various categories, including Civilian, Armed Forces, All India Service, and Railway Pensioners.
EPFO has released FAQs on the Revamped Electronic Challan-cum-Return (ECR) system, mandatory from the September 2025 wage month. The new process separates return submission from payment, incorporates system-based validations for greater accuracy, automatically calculates interest/damages, and introduces structured rules for regular, supplementary, and revised returns.
EPFO announces the final 60-day Productivity Linked Bonus (PLB) for FY 2024-25 for eligible Group B and C staff, capped at Rs. 13,816, following a prior advance.
The Ministry of Finance has increased the Dearness Allowance (DA) for Central Government employees from 55% to 58% of Basic Pay, effective from July 1, 2025. The EPFO has communicated this revision for necessary action.
CBDT Notification 150/2025 grants income tax exemption to the Jhansi Development Authority under Section 10(46A), effective from Assessment Year 2025-26.
IFSCA launched the Foreign Currency Settlement System (FCSS), operated by CCIL IFSC Ltd. The system settles USD transactions using gross settlement, with SCB as the Settlement Bank.
CBIC circular simplifies bank account registration for exporters. Same incentive bank account and IFSC code are now auto-approved at multiple customs locations if previously approved.
