The CBDT has introduced new forms for PAN correction to ensure a uniform process. Taxpayers must now use designated forms for accurate and streamlined updates.
The amended guidelines mandate minimum CPE hours for all practicing members. Non-compliance will lead to discontinuation of the Certificate of Practice. The ruling emphasizes strict enforcement and continuous professional learning.
The issue concerns disciplinary action for professional misconduct. The ruling enforces removal from membership and bars practice for a specified period.
The RBI has issued comprehensive guidelines combining incentives and penalties for banks in currency management. The move aims to improve customer service, reporting accuracy, and efficiency in currency distribution.
All banknotes must be authenticated through machines before acceptance or circulation under RBI’s new rules. This reduces human error and strengthens counterfeit detection mechanisms.
The issue involved inconsistent practices by banks in accepting coins and defective notes. RBI held that all branches must provide free exchange services without refusal, reinforcing customer rights and compliance obligations.
The government has reduced AIDC on ammonium nitrate to nil. The move lowers import costs and ensures supply for key sectors.
Finance Ministry exempts basic customs duty on specified chemicals and polymers till June 30, 2026 under Notification 12/2026-Customs.
The notification confirms continuation of RoDTEP with unchanged rates and caps. Exporters benefit from continuity and predictability in incentives.
The DGFT has granted a one-time 30-day extension for diamond re-import timelines under FTP 2023. This move addresses logistical delays caused by geopolitical instability and ensures exporters retain zero-duty benefits. It provides temporary relief to affected shipments within a specified period.
