The ROC penalized the company and its directors for not filing financial statements within the prescribed timeline. It held that non-compliance with mandatory filing obligations attracts strict penalties.
A company was penalized for filing incorrect details in MGT-7 despite claiming a clerical mistake. The ruling clarifies that errors in statutory filings attract penalties even if later corrected.
The government has retained existing tariff values for key imports like gold, silver, and edible oils. The update ensures valuation continuity without impacting import costs.
The government introduced a time-bound export support scheme to counter rising freight and insurance costs due to geopolitical tensions. It provides enhanced risk coverage and reimbursements to ensure export continuity.
The circular directs eligible financial institutions to provide interest support for export factoring to MSMEs. The key takeaway is improved access to export finance through regulated entities.
CBIC directed strict adherence to court rulings on duty drawback for unlocked mobile exports. The Supreme Court upheld the High Court decision and dismissed review petitions.
The notification removes Policy Condition No. 2(iii) from Chapter 95 of ITC (HS). This change alters the applicable import policy framework with immediate effect.
The case involved failure to attend hearings and file an affidavit as directed. The Committee imposed a penalty and warning, emphasizing strict compliance with tribunal orders.
The amendments permit specified trusts to convert into LLPs with continuity of assets and liabilities. The key takeaway is simplified restructuring without disrupting operations.
The authority introduced a digital system to track and manage food recalls. It enables regulators, businesses, and consumers to access real-time recall information.
