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Notifications/Circulars

DGFT Launches Online Module Due to Issues in Manual EPCG Scrip Utilization

April 21, 2026 291 Views 0 comment Print

The trade notice introduces an electronic system to resolve difficulties faced in using manually issued EPCG scrips. It enables seamless processing and transmission for better compliance.

RBI issues consolidated directions on Digital Payments – E-mandate framework, 2026

April 21, 2026 2115 Views 0 comment Print

The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key takeaway is a unified and streamlined regulatory structure with enhanced customer safeguards.

Penalty Imposed for Delay in Holding First Board Meeting Beyond Statutory Period

April 21, 2026 249 Views 0 comment Print

The authority imposed penalties after finding the company failed to hold its first board meeting within 30 days of incorporation. The ruling reinforces strict compliance with Section 173(1).

Penalty Imposed for Failure to Mention DIN in Financial Statements Under Companies Act

April 21, 2026 192 Views 0 comment Print

The issue centered on omission of DIN details by directors in financial filings. The ruling imposed penalties while exempting individuals not associated during the default period.

Penalty Imposed for Not Mentioning DIN in Financial Statements Under Companies Act

April 21, 2026 273 Views 0 comment Print

The ROC imposed penalties for failure to disclose DIN in financial statements, violating Section 158. The key takeaway is that non-compliance with statutory disclosure requirements attracts monetary penalties under Section 172.

Penalty Imposed Due to Delay in Holding Board Meeting Beyond 120 Days

April 21, 2026 525 Views 0 comment Print

The case deals with failure to comply with the mandatory 120-day gap between Board meetings. The authority imposed penalties despite voluntary disclosure, reinforcing strict compliance requirements.

GST Introduces IMS Offline Tool to Simplify Bulk Invoice Management

April 21, 2026 3774 Views 0 comment Print

The GST portal launches an Excel-based IMS Offline Tool to help taxpayers efficiently manage and process invoices. It enables bulk actions, reduces manual effort, and improves compliance accuracy through structured validation and upload features.

DIR-3 KYC Delay Now Costs ₹5,000 and amendement costs ₹500

April 21, 2026 10344 Views 0 comment Print

The issue concerns compliance delays in director KYC filings. The amendment imposes a ₹5,000 penalty for late submission, reinforcing timely regulatory compliance.

Odisha Abolishes Professional Tax

April 21, 2026 1944 Views 0 comment Print

The Ordinance repeals the professional tax law with immediate effect from April 2026. It preserves past liabilities and proceedings, ensuring continuity for prior obligations while abolishing future tax applicability.

Customs Issues Procedure for Returned Export Cargo Due to Strait of Hormuz Disruption

April 20, 2026 2937 Views 0 comment Print

The notice outlines procedures for handling export containers returned due to disrupted maritime routes. It allows simplified clearance without Bill of Entry where seal integrity is verified. 

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