Income-tax Amendment Rules 2025 defines tax provisions for non-resident cruise operators under Section 44BBC, detailing conditions for ship operations in India.
Clarification on application fees for duty drawback rate extensions: exporters to pay per application, not per shipping bill. Effective under Drawback Rules, 2017.
Circular No. 01/2025 outlines the application of the Principal Purpose Test (PPT) under India’s Double Taxation Avoidance Agreements (DTAAs) for treaty compliance.
DGFT announces relief in Average Export Obligation under EPCG for sectors with over 5% export decline in 2023-24, easing compliance for exporters.
Revised export quotas for Agarwood chips, powder, and agar oil under DGFT notification. Annual limits increased for 2024-27 with strict compliance requirements.
RBI revises guidelines for ARCs on borrower dues settlement, emphasizing policy frameworks, valuation, and Independent Advisory Committee oversight for transparent resolutions.
ICAI’s Disciplinary Committee reprimands CA Mahinder Kamboj for professional misconduct in certifying company incorporation documents without due diligence.
A Chartered Accountant was reprimanded by the ICAI’s Disciplinary Committee for professional misconduct related to audit deficiencies and disclosure failures.
Highlights of Swachhata Pakhwada 2025, luxury car customs duty evasion of Rs. 20 crore, and foreign currency smuggling case worth Rs. 1.35 crore at IGI Airport.
India extends Free import policy for Tur/Pigeon Peas until March 31, 2026, under FTP 2023. Notification No. 51/2024-25-DGFT
