The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cross-border recovery of taxes, strengthening bilateral tax cooperation.
The RBI updated operational rules for Floating Rate Savings Bonds under statutory powers. The revised framework governs issuance, servicing, and investor-related processes.
DGFT shifts multiple jewellery categories from Free to “Restricted” import status under CTH 7113. The key takeaway is that importers must now obtain licenses, with no relief for prior contracts or shipments.
The notification permits export of key commodities like rice, sugar, and eggs to Maldives within specified limits. It exempts these exports from restrictions while ensuring compliance with environmental and quality standards.
RBI directs banks and financial institutions to act on a newly added UNSC sanctions entry under UAPA provisions. The circular emphasizes freezing accounts and ensuring no financial access to listed individuals linked to terrorism.
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.
