The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised limits aim to streamline jurisdictional allocation and improve administrative efficiency in tax assessments.
CBIC revised SAED on ATF exports to Rs. 16 per litre effective 16 May 2026, impacting aviation fuel exporters and export duty costs.
The Ministry of Finance amended the central excise notification issued in March 2026 by revising rates applicable to specified goods. The notification cites public interest and introduces revised per litre duty rates effective from 16 May 2026.
SEBI issued a revised Master Circular consolidating surveillance-related directions for stock exchanges, listed companies, intermediaries, and fiduciaries. The circular strengthens insider trading compliance through automated trading window restrictions and updated surveillance mechanisms.
SEBI issued clarifications after revised PAN application forms under the Income-tax Rules, 2026 created compliance challenges for Foreign Portfolio Investors. The relaxations simplify documentation and ease PAN allotment procedures for FPIs.
CBIC has updated customs tariff values for gold, silver, palm oil, soybean oil, and brass scrap through Notification No. 46/2026-Customs (N.T.). The revised rates will apply from 16 May 2026 for import valuation purposes.
ROC Mumbai penalised a company and its directors after finding that board meeting minute books were not maintained in accordance with Secretarial Standards. The authority held that absence of serial numbering in minute books violated Section 118 of the Companies Act, 2013.
ROC Chennai held that an Additional Director who was not regularised at the AGM could not be treated as an officer in default during the violation period. The ruling highlights the importance of director status while fixing liability under the Companies Act.
CBIC extended the validity of multiple customs circulars issued under Section 143AA until 30 June 2026 because of ongoing maritime disruptions caused by the closure of the Strait of Hormuz.
CBIC has mandated system identification and expedited clearance of hazardous cargo through flagged Bills of Entry. Importers must declare hazardous goods at item level from 01 July 2026.
