The amendment extends the deadline for settling tax arrears from 31 December 2025 to 31 March 2026, giving taxpayers additional time to avail benefits. This move aims to increase participation and ease pending tax disputes under the scheme.
The amendment revises CCR treatment and add-on factors for off-balance sheet exposures, aligning prudential norms for payments banks with international regulatory standards.
RBI revised prudential norms requiring financial institutions to include consolidated counterparty credit risk exposures and follow updated add-on factors for derivatives and off-balance sheet items.
The appellate authority held that RTI applies only to existing records. Authorities cannot be compelled to generate Action Taken Reports, analyses, or explanations not maintained in official records.
The International Financial Services Centres Authority (IFSCA), through Circular No. IFSCA-CSD0MSC/1/2026-DCS dated March 10, 2026, has amended its earlier “Guidelines on Cyber Security and Cyber Resilience for Regulated Entities in IFSCs” issued on March 10, 2025. The amendment follows representations from regulated entities (REs) highlighting challenges in complying with certain provisions of the original circular. […]
The appellate authority clarified that under the RTI framework, public authorities are only required to provide information already available on record and cannot be compelled to create or interpret data for applicants.
CBIC clarified that fees for amendment or cancellation of export documents may be waived when changes arise due to circumstances beyond the exporter’s control. The relaxation applies to disruptions such as cancelled vessels or logistics issues.
GSTAT issued instructions mandating submission of SCN, OIO, OIA, and appeal grounds in APL-05. It held that incomplete documentation may lead to defects unless properly justified. The ruling ensures standardized and error-free appeal filings.
ROC Patna penalised a company and its directors for failing to file the annual return within the prescribed time under Section 92 of the Companies Act, directing them to rectify the default.
The ROC Patna imposed penalties on two directors for violating Section 155 of the Companies Act by possessing more than one Director Identification Number, directing rectification and payment within 90 days.
