Latest Updates

21-06-26
✅The Ministry of Corporate Affairs has extended the validity of name reservations & e-form resubmissions until July 10, 2026, due to the MCA21 Data Centre fire.
✅Online filing and Excel Utility for ITR-3 for A.Y. 2026–27 is now enabled on the e-Filing portal.
✅RBI has directed Authorised Dealer Category-I Banks to submit daily data on FCNR(B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) mobilised under the RBI Swap Facility. Daily reporting by 6:00 PM in prescribed formats. NIL reporting required on days with no transactions (except Saturdays and holidays). Data from 8 June 2026 onwards must be submitted with the first report due on 22 June 2026.

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20-06-26
✅MCA has allowed companies to file Form DPT-3 (Return of Deposits) for FY 2025-26 up to 31 July 2026 without payment of additional fees. The relaxation has been provided due to capacity enhancement and restoration activities following the MCA data centre fire incident on 5 June 2026.
✅Gujarat Food Safety Dept has taken action against Spice FBO in Rajkot, for operating without a valid FSSAI License/Registration and manufacturing adulterated spices. 4 food samples were collected for analysis. Total estimated value of the seized stock of ₹1.11 Crore.

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19-06-26
✅GSTN has mandated capture of Ship-to GSTIN in Bill-to/Ship-to transactions (use “URP” where the consignee is unregistered) and introduced API changes for Voluntary Closure of e-Way Bills. The changes have been deployed in the Sandbox environment and will be implemented in Production from 1 August 2026.
✅Recently, the Supreme Court held that High Courts should ordinarily not entertain writ petitions under Article 226 where an effective statutory appellate remedy is available. Exceptions are Violation of fundamental rights; Breach of principles of natural justice; Lack or excess of jurisdiction; or Challenge to the constitutional validity of a statute.

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18-06-26
✅The Allahabad High Court held that ITC cannot be blocked under Rule 86A without recording a written “reason to believe” and independent application of mind. Mere DGGI inputs, supplier alerts, or system-generated flags are insufficient. The Court quashed the ITC blocking order, reaffirming that suspicion alone cannot justify denial of input tax credit.
✅The Excise & Taxation Commissioner-cum-Commissioner of State GST, Haryana has issued an important instruction regarding the service of GST notices and orders. Show Cause Notices (DRC-01) and Demand Orders (DRC-07) shall also be intimated through Registered Post/Speed Post, in addition to the prescribed modes of service.
✅Under Section 83 of the Industrial Relations Code, 2020, employers must contribute 15 days’ last drawn wages per retrenched worker to the Worker Re-skilling Fund, in addition to notice pay and retrenchment compensation. Employers should also review wage structures, as the 50% wage definition rule may increase statutory liabilities linked to retrenchment and other employee benefits.

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17-06-26
✅The Central Government has issued notifications extending Nil Central Excise Duty, Nil Road and Infrastructure Cess (RIC), and Nil Special Additional Excise Duty (SAED) benefits to petrol blended with 22%, 25%, 27%, and 30% ethanol. The move aligns the excise framework with the Government's ethanol blending programme and aims to encourage higher ethanol adoption in the fuel sector.
✅The Insolvency and Bankruptcy Board of India (IBBI) has amended the Corporate Insolvency Resolution Process (CIRP) Regulations to enhance creditor participation and improve cost governance. The amendments mandate prior approval of the Committee of Creditors (CoC) for specified CIRP costs, strengthen transparency and accountability in insolvency proceedings, and reinforce creditor oversight during the resolution process.
✅The Supreme Court of India has upheld GST on the entire amount staked/deposited by players in online gaming, fantasy sports and casinos, rejecting taxation based only on platform fees or GGR. The Court also validated the 2023 GST amendments, holding that GST applies irrespective of whether a game is based on skill or chance, bringing finality to a long-standing tax dispute.
 
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16-06-26
✅Digital platforms have been directed to register gig workers on the e-Shram portal by 21 June 2026. A significant step towards formalising India's gig economy and extending social security benefits to millions of platform workers.
✅The RBI has issued Master Directions on Authorisation to Operate a Payment System, effective immediately, consolidating various circulars and guidelines on payment system authorisation, net-worth requirements, perpetual validity of authorisation, cooling-off periods, voluntary surrender, and FATF-related investment restrictions.
✅RBI has issued amendment directions on advertising, marketing and sale of financial products and services by banks, NBFCs and other regulated entities, effective 1 January 2027. The revised framework introduces comprehensive safeguards covering mis-selling, dark patterns, customer protection, and conduct of Direct Selling/Marketing Agents (DSAs/DMAs), including sale of third-party products. 

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15-06-26
✅RBI has permitted all individuals resident outside India (and not just NRIs/OCIs) to invest in equity instruments of listed Indian companies under Schedule III of the FEMA Non-Debt Instruments Rules, with enhanced investment limits. AD Banks may open repatriable INR accounts for such investors, and investments will be monitored and reported on lines similar to NRI/OCI investments. The changes take immediate effect.
✅RBI has amended FEMA Non-Debt Instruments Regulations to operationalise the expanded investment regime for foreign individual investors. The amendments prescribe payment, remittance and reporting requirements, including designated repatriable rupee accounts and a revised reporting format (LEC-IFI) for investments made through Indian stock exchanges.
✅FSSAI has directed all Food Business Operators (FBOs) to ensure that only food-grade, corrosion-resistant knives, blades and cutting equipment are used in food handling and processing. Rusted, corroded, chipped, painted, cracked or otherwise unsuitable cutting tools must be immediately removed and replaced, with appropriate cleaning, sanitisation and sterilisation procedures maintained to prevent food contamination.
✅The Central Government has amended Notification No. 06/2026 and 08/2026-CE-Central Excise and revised the applicable excise duty rate to ₹14 per litre and ₹12.50 per litre, effective 16 June 2026. The revised rates apply to the respective petroleum products covered under the underlying notifications

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14-06-26
✅FSSAI has directed food businesses to stop using newspapers for serving or packaging food due to contamination and health risks. Only approved food-grade packaging materials should be used.
✅MeitY has exempted specified Highly Specialized Equipment from compulsory registration requirements, subject to prescribed criteria and imports/manufacture of less than 100 units per model per year. Effective from 15 June 2026.

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13-06-26 
✅SAFEMA Appellate Tribunal clarified that merely paying tax on unexplained cash does not legitimize it. Tax authorities may still examine the source, and unexplained cash can remain liable for confiscation under applicable laws.
✅MeitY has brought Standalone Hard Disk Drives (HDDs) under the Compulsory Registration Order. Existing provisions continue for USB-type external HDDs, while other standalone HDDs will be covered from 5 November 2026.

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12-06-26
✅FSSAI banned metal pins in food packaging. Use of metallic pins, wires, or any similar material for sealing, fastening, securing, or packaging food stopped immediately.
✅CBIC is drafting rules under Section 11A of the CGST Act to provide relief in legacy GST disputes arising from common industry practices and interpretational issues. Relief may include waiver of tax, interest and penalty through Government notification based on GST Council recommendations. The move aims to reduce litigation and provide certainty in industry-wide GST disputes.
✅CBIC has directed that customs duty shall not be payable on specified goods for nuclear power generation imported during the period 1 April 2019 to 31 January 2026, where non-levy was a generally prevalent practice

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11-06-26 
✅Form DPT-3 is due on 30 June 2026 for reporting deposits and certain outstanding amounts as on 31 March 2026. Common items covered includes Director's Loans; Inter-Corporate Borrowings; Secured/Unsecured Loans; Other exempted amounts.
✅The GSTAT Principal Bench has clarified that matters may be clubbed based on a common question of law, even if they involve different taxpayers. This indicates an issue-based approach, focusing on legal consistency rather than the identity of the assessee. This is a significant clarification for GST litigation and appellate proceedings.
✅CBIC has notified tariff values effective 12 June 2026 for specified commodities including gold, silver, edible oils and areca nuts. Most tariff values remain unchanged.

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10-06-26
✅GSTAT proposed reforms include: No certified copy if order is on GST portal; More time for defect rectification; Weekly cause lists; Flexible reply filing; Relaxed translation norms; No fee for rectification applications.  This is a positive step towards simpler and faster GST appeals.
✅The validity of countervailing duty under Notification No. 4/2021-Customs (CVD) has been extended up to 23 March 2027, unless withdrawn earlier.
✅Anti-dumping duty under Notification No. 51/2021-Customs (ADD) will continue up to 15 December 2026, unless revoked or amended earlier.

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09-06-26
✅GSTN has extended the implementation date of the following E-Way Bill functionalities from 15 June 2026 to 01 August 2026 (a) Mandatory capture of "Ship To GSTIN" in Bill-To / Ship-To transactions (b) Voluntary Closure of E-Way Bill functionality. The extension has been granted to allow taxpayers, GSPs and ERP providers additional time for system changes, testing, API readiness and master data updates. 
✅The Government has notified amendments to the Immigration and Foreigners Rules, 2026. Foreigners seeking extended stay must register before visa expiry. Late registration permitted only in emergency cases. Online appeal mechanism introduced. Appeals to be filed within 30 days and resolved within 60 days

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08-06-26
✅Saudi Arabia has introduced new property ownership rules for foreign companies. Foreign companies seeking to own real estate in Saudi Arabia must provide documentation authorising a representative to act on their behalf within the Kingdom. Businesses planning investments or property acquisitions in Saudi Arabia should review the revised compliance requirements before proceeding.
✅The Supreme Court has held that temporary status casual labourers are entitled to pensionary benefits upon superannuation, even if their services were not formally regularised. The ruling reinforces that pension benefits cannot be denied solely on the ground of non-regularisation.
✅The Reserve Bank of India (RBI) has kept the Repo Rate unchanged at 5.25% and retained its Neutral policy stance. The decision reflects RBI's balanced approach towards managing inflation while supporting economic growth.
✅RBI has amended the Foreign Exchange Management (Export of Goods & Services) Regulations and restored the time limit for realization and repatriation of export proceeds to 9 months.  Export proceeds must now be realized and repatriated within 9 months from the date of export. Exporters should review their receivables and compliance processes to align with the revised timeline.

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07-06-26
✅CBDT has issued guidelines for compulsory selection of Income-tax Returns for Complete Scrutiny for AY 2026-27. Notice u/s 143(2) to be issued by 30 June 2026.  Covers specified Search, Survey, Reassessment, Exemption-related and Tax Evasion cases. Taxpayers should maintain proper records and be prepared for scrutiny proceedings.
✅CBIC has appointed a Common Adjudicating Authority for customs show cause notices issued to View Sonic Technologies India Pvt. Ltd. Principal Commissioner/Commissioner of Customs (Import), Chennai has been designated as the Common Adjudicating Authority. The move is intended to facilitate centralized adjudication and administrative efficiency in customs matters.

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06-06-26
✅The Companies (Registered Valuers and Valuation) Amendment Rules, 2026 have come into effect from 1 June 2026. Registered Valuer Organisations (RVOs) must maintain a minimum paid-up capital of ₹25 Lakhs. Existing RVOs have time until 31 March 2028 to comply. RVOs should review their capital structure to ensure timely compliance.
✅CBIC has appointed a Common Adjudicating Authority for multiple customs show cause notices issued to Hewlett-Packard Enterprise India Pvt. Ltd. Principal Commissioner/Commissioner of Customs (Import), Air Cargo Complex, Mumbai has been designated as the Common Adjudicating Authority. The notification aims to streamline adjudication of related customs proceedings across different customs formations.

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05-06-26
✅Government has notified an Ordinance exempting Foreign Institutional Investors (FIIs) and Bank for International Settlements (BIS) from tax on interest income and capital gains arising from Government Securities. Inserted in Schedule IV of Income Tax Act, 2025, effective retrospectively from 1st April 2026, subject to prescribed information filing. Meanwhile, Indian investors will continue to pay tax on both interest income and capital gains from Government Securities.
✅The AIS (Annual Information Statement) Portal is currently under scheduled maintenance and may remain inaccessible to taxpayers. Expected Restoration will done by 8 June 2026 (Monday), 6:00 AM.  Taxpayers are advised to plan their compliance activities accordingly.

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04-06-26 
✅DGFT has reconstituted the Board of Trade by appointing 40 non-official members from industry, trade bodies, banking, manufacturing, technology and professional institutions (including ICAI, ICSI and ICMAI). The Board will advise the Government on export promotion, trade facilitation, infrastructure, import-export procedures, and international competitiveness.
✅The Finance Act, 2026 has introduced a PAN-based TDS payment mechanism for purchase of immovable property from non-residents. However, until 30 September 2026, buyers must continue to comply with the existing TAN-based TDS deduction and deposit process.

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03-06-26
✅The RBI has launched the first phase of UPI-KHQR interoperability between India and Cambodia. Indian travellers can now make UPI-based QR payments at over 4.5 million KHQR-enabled merchants in Cambodia, enabling seamless, real-time, and cashless transactions. The second phase will allow Cambodian travellers to use their domestic payment apps for UPI merchant payments in India.
✅Porbandar District Chamber of Commerce & Industries (PDCCI), Gujarat to issue Non-Preferential Certificates of Origin under Appendix 2E of FTP 2023 with immediate effect. 

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02-06-26
✅The Government has reconstituted the Board of Trade by appointing 40 non-official members from industry, trade associations, financial institutions, and professional bodies to strengthen trade policy
consultation and export promotion.
✅Import of specified silver products under Chapter 71 shall now be permitted only through nominated agencies, banks, qualified jewellers, and other authorised entities against a valid DGFT Import Authorisation, tightening import controls. 
✅DGFT has notified the list of authorised agencies, including DGFT offices, APEDA, Export Inspection Council, SEZs, and commodity boards, for issuance of Preferential Certificates of Origin under the India-Oman CEPA.
✅Para 2.88 of the Handbook of Procedures has been amended to include the India-Oman CEPA, enabling exporters to obtain Certificates of Origin through authorised agencies under the new trade agreement framework. India-Oman Comprehensive Economic Partnership Agreement (India-Oman CEPA)" has been included into the list of FTAs for which Certificates of Origin can be issued.

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01-06-26
✅India's gross GST collections for May 2026 stood at ₹1.94 lakh crore, registering a 3.2% year-on-year growth over May 2025. While collections moderated from April's record high, the growth was supported by strong economic activity and higher import-related GST revenues
✅DGFT has introduced six new Standard Input Output Norms (SIONs) for pharmaceutical products including Artemether, Artesunate, Dihydro Artemisinin, and Doxycycline formulations, facilitating faster issuance of Advance Authorisations without Norms Committee approval.  

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31-05-26
✅The RBI's latest assessment indicates that the Indian economy remained resilient in April 2026, supported by strong industrial and services activity, healthy agricultural progress due to favourable rainfall, and positive FDI inflows. CPI inflation stood at 3.5%, primarily driven by food prices, while core inflation remained stable. Global uncertainties persist, though foreign investment outflows have shown signs of moderation.

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30-05-26
✅Imports under Tariff Rate Quota (TRQ) will be allowed only against DGFT-issued electronic authorization integrated with ICES. It is effective from 1 June 2026.
✅The Government has revised Special Additional Excise Duty (SAED) rates on petrol and diesel. Duty rates under Notification No. 06/2026-CE stand revised to ₹1.50/litre and ₹13.50/litre, while the rate under Notification No. 08/2026-CE has been revised to ₹9.50/litre, effective from 1 June 2026.
✅SEBI has simplified nomination procedures for demat accounts and mutual fund folios. Effective 1 September 2026, investors can appoint up to three nominees through a fully digital process, while single-holder accounts must either nominate a beneficiary or formally opt out.

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29-05-26
✅DGFT has revised several Standard Input Output Norms (SIONs) for Chemical and Allied Products, including Caustic Soda, Gelatine, Ossein, and Chlorinated Paraffin products, with immediate effect.
✅DGFT has enabled electronic filing and issuance of Preferential Certificates of Origin (eCoO) for exports to Oman under the India-Oman CEPA through the Trade Connect ePlatform, effective 1 June 2026. 

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28-05-26
✅FSSAI has issued draft amendments expanding eligible qualifications for Food Safety Auditors and proposing a minimum 2 years' industry experience, along with ISO 22000 Lead Auditor certification and audit experience requirements.
✅Delhi Government has notified GST rule amendments enabling grant of a Temporary Identification Number (TIN) to persons not required to obtain GST registration but liable to make GST payments. This will facilitate one-time or occasional tax payments without requiring full GST registration.

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27-05-26
✅FSSAI has amended the Prohibition and Restrictions on Sales Regulations, 2011 by deleting Clause (8) of Regulation 2.3.14, effective immediately from the date of publication. The omitted provision earlier restricted the sale of certain food products containing industrial trans fatty acids beyond the prescribed limits.
✅The Income Tax Department has enabled online filing and Excel Utility for ITR-2 for Assessment Year 2026-27 on the e-Filing Portal. Taxpayers having capital gains, multiple house properties, foreign assets, or other incomes covered under ITR-2 can now begin filing their returns.

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26-05-26
✅FSSAI has prescribed a standardized Vegan Logo and packaging specifications for vegan food products. The new requirements will come into force from 1 July 2027
✅Following CAG observations, CBDT has directed tax officers to uniformly apply provisions relating to unexplained cash credits, investments, money, expenditure and hundi transactions. Additions under Sections 68 to 69D will continue to attract taxation under Section 115BBE and related penalty provisions, increasing scrutiny during assessments.

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25-05-26
✅FSSAI has revised standards relating to heavy metals, aflatoxins and veterinary drug residues in food products, including edible oils, pulse flours and seafood. The amendments will be effective from 1 December 2026.
✅The Supreme Court has upheld the levy of 28% GST on the full value of bets placed in online gaming, casinos and horse racing. The ruling validates the Government's position and is expected to impact pending GST demands across the gaming industry.

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24-05-26
✅DGFT has allocated 8,606 MTRV of raw cane sugar export quota to the USA under the TRQ Scheme for US FY 2026. APEDA will administer the quota allocation and monitoring process.
✅Basic Customs Duty and Agriculture Infrastructure & Development Cess have been exempted on imports of raw cotton (CTH 5201). It is applicable from 1 June 2026 to 31 October 2026.  

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23-05-26
✅According to the latest RBI data, India's foreign exchange reserves stood at USD 698.49 billion (₹65.82 lakh crore) as on 24 April 2026, reflecting a robust external position. The reserves continue to be supported by strong foreign currency assets and gold holdings, providing a significant buffer against global economic uncertainties and supporting currency stability.
✅DGFT has initiated a review and reallocation of Pharma Grade Sugar export quota. Exporters must submit a CA-certified utilization certificate and additional quota requirements within 10 days. Unutilized quotas may be reallocated based on demand and actual exports. 
✅DGFT has launched an online Certificate of Origin (CoO) issuance module for Agarwood exports on the Trade Connect ePlatform. The paperless system will streamline approvals, improve traceability, and ensure compliance with CITES requirements. Effective from 25 May 2026.

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22-05-26
✅GSTN has proposed mandatory capture of the Ship-To GSTIN in Bill-To Ship-To transactions while generating E-Way Bills. The change aims to improve traceability of goods movement and enhance data accuracy. Businesses should review their ERP and EWB systems to ensure readiness for this requirement.
✅GSTN has proposed a new E-Way Bill Closure functionality that will allow taxpayers to voluntarily close E-Way Bills in specified scenarios, such as cancellation of transactions or non-dispatch of goods. This initiative is intended to improve the accuracy of EWB records and strengthen compliance.  

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21-05-26
✅CBIC has issued revised tariff value tables effective 20 May 2026. Key notified commodities include: Gold: USD 1508 per 10 grams, Silver: USD 2455/kg, Areca Nuts: USD 9,155/MT, Palm Oil & Palmolein values retained, Brass Scrap: USD 7,433/MT. Importers should review valuation implications for customs duty calculations 
✅FSSAI has notified changes and additional appointments of Authorized Officers across airports, seaports, ICDs, SEZs and land customs stations for imported food clearance. Businesses involved in food imports should verify updated officer mappings and port jurisdictions for smoother import processing.

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20-05-26
✅GSTN now permits upload of up to 2.5 lakh invoice line items in a refund application through multiple Annexure-B utility files. The enhancement aims to support businesses with large-volume refund claims and reduce processing challenges.
✅Imports of Anodized Aluminium Frames for Solar Panels/Modules exported by M/s Anhui Krant Aluminum Products Co., Ltd., China will now undergo provisional assessment pending completion of a new shipper review. Importers may be required to provide security/guarantees against possible retrospective anti-dumping duty liabilities.
✅The Finance Ministry issued corrections to Notification 14/2026-Customs, including tariff code revisions and substitution-related amendments. Businesses relying on customs classifications should verify revised codes and references to avoid classification errors.

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19-05-26
✅CBIC has clarified that grant of Entry Inward and Vessel Sail-Out Clearance shall not be linked with physical boarding of customs officers. Customs authorities must process clearances upon filing prescribed documents through online systems such as SAM/SDM. Risk-based boarding mechanisms will now be adopted to reduce cargo delays and improve port efficiency.
✅GSTN has deployed an Annexure-B Offline Utility for taxpayers claiming refunds involving accumulated ITC. The utility will capture invoice-wise inward supply details with HSN/SAC segregation and support automated invoice validation with GSTR-2B, aiming for faster and standardized refund processing. It will be Applicable for Exports without payment of tax, Supplies to SEZ without payment of tax,  Inverted duty structure refunds and Export of electricity without payment of tax.

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18-05-26
✅DGFT has cautioned exporters regarding possible misuse of Digital Signature Certificates (DSCs) after instances of unauthorised access and recording of Chapter 3 scrip transfer details on the portal. Exporters are advised to keep DSCs secure and coordinate with DSC vendors to verify that no unauthorised DSCs have been issued against their IECs.
✅CBDT has revised monetary limits for jurisdiction of Wards & Circles under JAO charges with immediate effect. The threshold for Corporate Returns has been increased to ₹70 lakh, Non-Corporate (Non-Salary) to ₹40 lakh, and Non-Corporate (Salary) to ₹30 lakh.

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17-05-26
✅GSTAT has introduced major reforms to streamline GST dispute resolution. Key changes include division bench review for appeals, single bench hearings for select disputes below ₹50 lakh (subject to approval), categorized case handling, nationwide bench rosters, and virtual/hybrid hearings. The newly introduced e-Courts portal will also enable online filing, case tracking, and virtual participation.
✅DGFT has revised the import policy for specified silver bars (ITC HS Codes 71069221 & 71069229) from “Free” to “Restricted” with immediate effect. Importers must now comply with additional policy conditions before import of covered silver products.
 
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16-05-26
✅Central Excise duty on specified petroleum products, including petrol and diesel, revised to ₹16 per litre effective 16 May 2026. Stakeholders in the fuel and petroleum sector should review pricing and tax implications.
✅Custom Tariff values revised for Gold Bars, Gold Coins, Gold Findings and Silver imports; Crude Palm Oil, RBD Palm Oil, Palmolein and Crude Soybean Oil for customs valuation purposes, effective 16 May 2026.
✅Finance Ministry vide Notification has revised Chandigarh GST Authority members under the UTGST Rules. The notification updates appointments and administrative structure under the GST framework.
✅The Ministry of Housing & Urban Affairs has notified the House Building Advance (HBA) interest rate at 7.10% for Central Government Employees for FY 2026–27.

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15-05-26
✅ITR 1 and ITR 4 available for filing, but don’t rush, let your 26AS and AIS to be fully updated by 15.06.2026.
✅The Government is considering restricting manual editing in GSTR-3B once figures are auto-filled from GSTR-1 and GSTR-2B. The move aims to reduce mismatches, curb wrongful ITC claims, and improve invoice-based compliance. However, taxpayers may still be allowed to make corrections through GSTR-1A and IMS. This proposal is expected to be placed before the GST Council for final approval.
✅The Ministry of Statistics (MoSPI) has revised the release schedule for Provisional Estimates of Annual GDP and Q4 GDP data, aiming to improve data quality and strengthen statistical reporting.
✅Stock Exchanges have decided to discontinue the Investor Risk Reduction Access (IRRA) platform due to limited usage and structural redundancy. Exchanges may review and strengthen contingency trading mechanisms.

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14-05-26
✅DGFT vide Public Notice has tightened compliance for gold imports under Advance Authorisation. Key Highlights includes, Gold import capped at 100 kg, Physical inspection for first-time applicants, 50% export obligation required for further authorisation, Mandatory CA-certified periodic reporting. The move aims to strengthen monitoring in the Gems & Jewellery sector.
✅️India has increased import tariffs on gold and silver to 15% from 6%, effective May 13, 2026, aiming to curb overseas purchases and ease pressure on foreign exchange reserves
✅The GSTAT Portal has introduced a significant procedural Key Enhancement i.e. The “Upload Document” and “Checklist” functionalities are now accessible even before payment of court fees. 
✅Delhi Govt Advises 2-Day Work From Home for Private Offices & IT Firms

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13-05-26
✅The Government has amended the export policy of Sugar (Raw, White & Refined Sugar) from “Restricted” to “Prohibited” with immediate effect till 30 September 2026 or further orders. Key Exceptions include Exports to EU & USA under quota schemes, Advance Authorization exports, Government-to-Government exports, Consignments already in export pipeline. The restriction aims to safeguard domestic availability and food security.
✅DGFT has issued Trade Notice providing relaxation for exporters facing UIN-related difficulties under the Interest Equalisation / Export Promotion Mission (EPM) scheme. Key Relief includes Window opened for UIN generation in pending cases, Relief for loans disbursed on or after 02.01.2026 before UIN generation, Covers cases where UDIN existed under old scheme but credit was disbursed later, Aims to ensure uniform implementation across banks and ease exporter compliance
✅️Central Board Of Direct Taxes Likely To Crack Whip On Tax Recovery. CBDT Targets ₹2.57 Lakh Cr Confirmed Tax Demand.

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12-05-26
✅Income-Tax Based LPG Subsidy Verification Started for Consumers Above ₹10 Lakh Income, 7-Day Response Window Given.
✅Odisha Abolishes Professional Tax From April 2026 To Cut Compliance Burden On Employees And Businesses
✅TRAI has released the draft Telecom Consumers Complaint Redressal (Fourth Amendment) Regulations, 2026, proposing changes to improve complaint handling efficiency and accessibility

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11-05-26
✅ DGFT has amended Para 2.88 and Para 2.91 of HBP 2023 to include the India-UK Comprehensive Economic and Trade Agreement (CETA) under the Certificate of Origin framework. Key Change includes Exporters under India-UK CETA can now obtain Certificates of Origin through Authorised agencies, or Self-declaration mechanism. The amendment aims to simplify export documentation and facilitate trade under India-UK CETA.
✅DGFT vide Public Notice has enlisted 14 new Pre-Shipment Inspection Agencies (PSIAs) under Appendix-2G of HBP 2023.The notification also covers updation/addition of approved inspection instruments for existing PSIAs under Para 2.52(c) of HBP 2023. This update is relevant for importers dealing in scrap and other goods requiring mandatory pre-shipment inspection certification. 
✅In a significant ruling recently, the Supreme Court in Dhanlaxmi Bank Ltd. v. Mohammed Javed Sultan & Ors. reiterated that the IBC is meant for insolvency resolution and not for recovery of disputed dues.

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10-05-26
✅The Reserve Bank of India (RBI) and the European Central Bank (ECB) have signed a new Memorandum of Understanding (MoU) to strengthen cooperation in central banking. The updated MoU replaces the 2015 arrangement and provides a framework for Exchange of information, Policy dialogue, Technical cooperation in areas of mutual interest. 
✅India has revamped its Foreign Tax Information Exchange Framework, effective 1 July 2026, to strengthen action against cross-border tax evasion and accelerate international tax cooperation. Key changes include high-priority processing of foreign tax requests, targeted timelines for information sharing, monthly monitoring of pending matters, and stricter scrutiny of outbound requests. India will also begin automatic sharing of crypto and digital asset information from 1 April 2027 under the OECD-led reporting framework. The move aims to improve efficiency, accountability, and technology-driven global tax enforcement.
  
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09-05-26
✅GSTN has introduced a JSON-based Annexure-B utility for RFD-01 refund applications with invoice-level GSTR-2B validation. GST refunds are becoming more system-driven and reconciliation-focused. Businesses should ensure proper Books vs GSTR-2B vs Refund claim matching to avoid objections and delays.
✅The countdown for implementation of key obligations under the Digital Personal Data Protection Act (DPDPA) has begun, with 13 May 2027 being a significant compliance milestone. Businesses are advised to start preparing for data mapping, consent frameworks, internal SOPs, vendor agreements, employee training, breach response mechanisms, and governance processes, as implementation may take months. Non-compliance under DPDPA may attract penalties of up to ₹250 crore in specified cases. Early readiness could provide both compliance and trust advantages.

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08-05-26
✅Establishments already registered under the Occupational Safety, Health and Working Conditions Code, 2020 are now EXEMPTED from separate registration under the Haryana Shops & Commercial Establishments Act, 1958.
✅FSSAI West Region seized misbranded “Alkaline Water” stock worth approx. ₹31.61 lakh in Vadodara after inspection found labelling violations, visible black particles, sediments, and use of non-permitted fulvic acid. The action was initiated after a consumer complaint on the Food Safety Connect portal, with proceedings started under the FSS Act, 2006.
✅NSE has discontinued manual filing for Insider Trading disclosures under Regulation 7(2) & 7(3) of SEBI (PIT) Regulations. All Listed Entities, REITs & InvITs must now file disclosures only through the XBRL utility on NEAPS.

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07-05-26
✅Greece is emerging as a preferred residency-by-investment destination for Indian HNIs, offering Schengen access at a lower entry cost compared to Dubai and Portugal. Indian enquiries reportedly increased, driven by lifestyle, mobility, tax certainty and real estate investment appeal.
✅RBI has cautioned the public against unauthorised campaigns promising loan waivers, bogus debt waiver certificates and fee collection under false pretences. Borrowers should deal directly with banks/NBFCs for loan-related matter  

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06-05-26
✅RBI has exempted certain NBFCs not accepting public funds and without customer interface, having assets below ₹1,000 crore, from registration subject to conditions, and introduced deregistration/conversion procedure.
✅GSTAT has clarified that although English translation is required under Rule 23(1), appeals with original Hindi orders/documents may be accepted without immediate translation for an initial six-month period where Bench Members can understand Hindi.
✅CARE Ratings has been recognised as PaRRVA by NSE to provide verified past risk and return performance for investment advisory, research and algorithmic trading services from 4 May 2026.
✅Road and Infrastructure Cess on High Speed Diesel Withdrawn from 1st May 2026
✅Cabinet approves the proposal for introducing 'The Supreme Court (Number of Judges) Amendment Bill, 2026'. The Bill provides for increasing the number of Judges of the Supreme Court by 04 i.e. from 33 to 37 (excluding the Chief Justice of India)

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05-05-26
✅₹10,000 crore Startup India Fund of Funds 2.0 launched by Government of India to boost AIF-led funding for deep tech and growth-stage startups in India. 
✅DGFT has extended the validity of ad-hoc norms under Advance Authorisation till 31 March 2028, ensuring continuity for exporters. This move reduces uncertainty and supports ease of doing business by allowing reuse of already ratified norms.
✅DGFT has notified 4 new Standard Input Output Norms (SIONs) for chemical export products to streamline approvals. This enables Regional Authorities to issue Advance Authorisations directly, reducing delays and improving uniformity.
✅₹2000 Currency Notes Withdrawal Status (by RBI)  - 98.47% of ₹2000 banknotes have been returned, with circulation reducing from ₹3.56 lakh crore to ₹5,451 crore as of April 2026. While exchange/deposit at bank branches has ended, the facility continues via RBI Issue Offices and post—₹2000 notes remain legal tender.

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04-05-26
✅GST rate changes for beverage categories have been notified, revising applicable rates under Schedule I (5%) and Schedule III (40%) for IGST, with corresponding 2.5% and 20% changes under CGST/UTGST. These updates impact specific HSN codes under 2202 and are effective from 1st May 2026. Businesses must update classification and pricing to ensure compliance and avoid errors.
✅RBI Gets New Deputy Governor: Rohit Jain Appointed by Centre Govt.
✅Form 172 under the Income-tax Act, 2025 replaces Form 3CEJA and mandates certified reporting for eligible investment funds to ensure compliance, transparency and protection from business connection risks in India.

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03-05-26 
✅The Uttarakhand Food Safety Department inspected Roorkee market, issuing notices for labeling violations, collecting fruit samples, and directing vendors to obtain mandatory licenses under Food Safety and Standards Authority of India norms. The move reinforces strict compliance and consumer health protection.
✅Old Form 15CA has been replaced with New Form 145 - Declaration for Foreign Remittance. Now, Foreign remittance compliance made Simpler and Smarter. 

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02-05-26
✅All LLPs must file Form 11 (Annual Return) for FY 2025–26 by 30th May 2026, irrespective of turnover or business activity. Delay attracts a penalty of ₹100 per day with no maximum limit, leading to heavy compliance costs.
✅All Import Export Code (IEC) holders must complete their annual IEC update/renewal by 30th June 2026 on the DGFT portal. Failure to update may lead to deactivation of IEC, impacting import-export activities.
✅The due date for filing TDS Return (Q4 FY 2025–26) for the period Jan–Mar 2026 is 31st May 2026 (Forms 24Q & 26Q). Delay in filing may attract late fees of ₹100 per day per form along with penalties.

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01-05-26
✅FoSCoS portal is now active for filing Annual Return (Form D1) for FY 2025–26, with the due date being 31st May 2026. Manufacturers, repackers, relabellers, exporters, and importers are required to file within the timeline to ensure compliance. Delay in filing will attract a penalty of ₹100 per day and may also lead to suspension of the FSSAI license. 
✅ FSSAI has extended compliance for new meat sausage standards by 6 months from 1st May 2026. FBOs must comply with revised composition, additives, processing, and labelling norms. 
✅DGFT has notified modalities for export of wheat (25 LMT quota) with applications to be filed online between 1st May and 10th May 2026. Export authorization will be valid for 6 months, with allocation based on eligibility and export performance, and mandatory monthly reporting for compliance.
 
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30-04-26
✅ Income Tax Rules 2026: Implemented from 1 April. PAN mandatory for key transactions. Forms 15G/15H replaced by Form 121. Revised compliance, reporting & timelines introduced.
✅GST Enforcement: CGST Delhi South uncovers ₹60.59 crore fake ITC fraud involving bogus invoices worth ₹397.23 crore. Key accused arrested under CGST Act, indicating stricter scrutiny on ITC claims and compliance.

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29-04-26
✅ RBI issues Amendment Directions on review of regulatory framework including registration requirement for ‘NBFCs not availing public funds and not having customer interface’ (including ‘Type I NBFCs’)

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28-04-26
✅ The Reserve Bank of India mandates faster inward remittances with same-day credit, instant alerts, and hourly reconciliation, aiming to eliminate delays and improve transparency in cross-border payments. Effective from Oct’26.

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27-04-26
✅ DGFT keeps wheat export prohibited but allows 25 LMT under quota with additional Govt-to-Govt exports, creating a limited opportunity subject to strict compliance and upcoming procedures

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25-04-26
✅ TRACES revamped: New UI & navigation. For FY 2025–26 or earlier, select “Compliance under Income Tax Act, 1961”. Path: Login → Menu → Compliance. Contact us for TDS support

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24-04-26
✅ CBDT issued corrigendum to the Notification related to Form ITR-7, ITR-1 & 4, ITR-2, ITR-5, ITR-6, ITR-U

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21-04-26
✅ DIR-3 KYC fees revised from 21 Apr 2026. NIL within due date, ₹5,000 for delay/DIN reactivation, ₹500 for re-filing changes. Avoid errors to prevent extra cost.
✅GSTN allows re-computation of interest in Table 5.1 of GSTR-3B due to discrepancies (Feb 2026 cases). Use “Re-Compute Interest” option and verify via system-generated PDF before filing.

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17-04-26
✅ The list of banks authorized to import gold/silver under Appendix 4B of HBP 2023 has been updated. Importers must verify updated authorized banks before proceeding with imports to ensure compliance.
✅ MoF via Notif. 05/2026-Cus(ADD) excludes lithograde aluminium coils (>1150 mm width) from anti-dumping duty under Notif. 68/2021. Applies to HS 7606/7607; based on DGTR recommendations.

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15-04-26
✅Offline Utility for Form 145 and Form 146 has been enabled on the e-Filing Portal. Users can download, fill, and submit the forms directly through the utility available under “Downloads → Income tax Forms → Income tax Act, 2025”.

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14-04-26
✅MCA #CCFSScheme 2026 - All you need to know! 💸 Save up to 90% penalty 📅 Apr 15 – Jul 15, Missed ROC filings? This is your chance Avoid penalties. Stay compliant.

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10-04-26
✅From 06 Apr 2026, GSTN allows editable pre-deposit in APL-01. Earlier fixed at 10% (Sec 107(6)), taxpayers can now adjust as applicable. Subject to verification by appellate authority.

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09-04-26
✅GST amendment vide Finance Act 2026 - The Finance Bill, 2026 has received Presidential assent on 30 March 2026 and has been enacted as the Finance Act, 2026. Pursuant to this enactment, following amendments have been carried out in the GST law.
✅The Reserve Bank of India mandates faster inward remittances with same-day credit, instant alerts, and hourly reconciliation, aiming to eliminate delays and improve transparency in cross-border payments. 

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08-04-26
✅Notification giving effect to the Amending Protocol to the India–Brazil Double Taxation Avoidance Agreement (DTAA) under section 90(1) of the Income tax Act, 1961
✅CBDT has notified ITR-1 & 4, ITR-2, ITR-5, ITR-6, ITR-7, ITR-U forms for AY 2026-27
✅Directorate of Income-tax (Systems), New Delhi notified the Procedure, format and standards for generation and allotment of Unique Identification Number (UIN) in respect of Form No. 121 and quarterly furnishing of Part B thereof by the payer
✅GSTN has now introduced an IMS Offline Utility
✅India–Brazil DTAA amended via Notification 39/2026. Introduces anti-abuse rules, revises tax rates (dividend/interest/royalty) & brings FTS taxation @10%. Effective from FY post 18 Oct 2025

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07-04-26
✅Stakeholders must file MSME Form I for Oct 2025–Mar 2026 on the MCA portal. Ensure timely compliance to avoid penalties. Last date: 30 April 2026.
✅Foreign remittance rules updated from 1 Apr 2026. Forms 15CA/CB replaced by Forms 145/146 under IT Act 2025. Mandatory CA authorization, no bulk filing, pre-remittance filing required. ₹5L limit unchanged. Penalty up to ₹10K. Ensure compliance & system readiness.
✅DGFT Notification (06 Apr 2026) has revised export policy for wood pellets & briquettes. Both items are now under “Restricted” category, requiring export authorization. Change is effective immediately, shifting from earlier prohibited/free status
✅Key Changes in ITR-1 for AY 2026–27 compared to AY 2025–26 - ITR-1 is applicable to resident individuals having total income up to Rs. 50 lakh and income from salaries, up to two house properties, other sources (such as interest), long-term capital gains under section 112A up to Rs. 1.25 lakh, and agricultural income up to Rs. 5,000

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06-04-26
✅DGFT Notification (02 Apr 2026) amends import policy for Chapter 71 items (gems & jewellery). Several items shift from “Free” to “Restricted” with new Policy Condition. No transitional benefits allowed; rules applicable immediately, regardless of prior contracts.
✅DGFT (Directorate General of Foreign Trade) has extended its special drive for issuance of EODCs (Export Obligation Discharge Certificates) under AA (Advance Authorisation) and EPCG (Export Promotion Capital Goods) schemes till 31 May 2026, focusing on clearing old/deficient cases and urging exporters to submit pending documents promptly
✅ The CAG flagged widespread irregularities in tax exemptions and deductions claimed by banks and NBFCs, with a potential revenue impact of ₹74,766 crore. 

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05-04-26
✅Delhi GST introduces ₹2.5 crore ITC threshold for cancellation of GST registration. For ITC > ₹2.5 Cr, cancellation requires Zonal In-charge approval. For ≤ ₹2.5 Cr, Ward Officer can decide. Businesses must monitor ITC claims to avoid compliance risks.
✅FSSAI mandates registration/license for all milk producers (except dairy cooperatives) and vendors. Ensure compliance before starting or continuing food business operations.
✅Effective 1 April 2026, FSSAI revises turnover limits: Registration up to ₹1.5 Cr, State License ₹1.5–50 Cr, Central License above ₹50 Cr. Big step towards ease of doing business.
✅RBI (Circular No. 01 dated 01 Apr 2026) enables FEMA guarantee reporting on portal. Indian entities in cross-border guarantees must report via AD banks. Read Article
✅Start a new invoice series from April 2026 for tax invoices, debit/credit notes & bills of supply. Ensure proper numbering for smooth GST compliance and audit readiness.
✅Update IEC on DGFT portal before June 2026. Also file RoDTEP ARR if claim exceeds ₹1 crore for FY 2023-24 to avoid non-compliance issues.

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04-04-26
✅TDS Applicability linked to turnover—₹50L (professionals), ₹1Cr (business), ₹10Cr (purchase of goods), expanding compliance coverage from Apr 2026.
✅Form 16 (salary) is now Form 130, and Form 16A (non-salary) is now Form 131 for tax deduction certificates from April 2026.
✅India invokes MLI-PPT on Jane Street Singapore, alleging ₹8,000 Cr tax avoidance via derivative profit shifting. Signals stricter treaty scrutiny beyond GAAR.
✅New audit regime aligned with global standards under review. 40 standards (incl. SA 600) proposed from Apr 2026; NFRA–ICAI dispute on auditor responsibility awaits final govt decision (MCA).
✅GST Advisory issued on 03 Apr 2026 - GST Appeals blocked where orders show NIL demand after SCN payment. Taxpayers must seek rectification first to reflect liability, then file appeal u/s 107 Read Article
✅Import duty on critical petrochemicals has been reduced to Nil by GOI

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03-04-26  
✅IBBI Valuation Standards applicable from 1st April, 2026 for the purpose of valuation conducted under the Insolvency and Bankruptcy Code, 2016
✅Old TDS Forms 24Q and 26Q (Quarterly returns) have been replaced with New Form 138 for salary payments and New Form 140 for other payments.

02-04-26 
✅Top banks and telecom companies are moving beyond traditional OTPs by building a silent background check that verifies if your SIM matches your banking app, blocking fraud instantly without any action from you. 
✅The CGST Act, 2017 (as amended by Finance Act, 2026), along with updated CGST Rules and latest notifications, has been officially updated and made available online.

01-04-26 
✅ICAI has deferred the implementation of SQM 1 and SQM 2, originally scheduled from April 1, 2026, until further announcement.
✅The Income-tax Act, 1961 stands repealed effective 01.04.2026, pursuant to Section 536 of the Income-tax Act, 2025.
✅Wishing you all a very happy & prosperous FY 2026–27 or Tax Year (TY) 2026–27.
 
31-03-26
✅ All ITR Forms for AY 2026–27 notified (ITR 1–7 & ITR-U). Start early preparation for smooth filing. Talk to Expert
✅SWF compliance updated—Form I & quarterly Form II filings mandatory from 1 Apr 2026 to retain tax exemption. Read Article
✅After 31st March, window for filing ITR for FY 2020-21 will be permanently closed Talk to Expert
✅The rates of interest on various Small Savings Schemes for the first quarter of FY 2026-27, starting from 1 April, 2026 and ending on 30th June, 2026 shall remain unchanged from those notified for the fourth quarter (1 January, 2026 to 31 March, 2026) of FY 2025-26: Ministry of Finance Talk to Expert

30-03-26 
✅PAN Rules Updated from 1 Apr 2026: Cash ₹10L, Property ₹20L, Vehicle ₹5L+ → Ensure compliance. Read Article
✅CBDT released Form 121 - UIN, now mandatory from 1 Apr 2026, quarterly reporting required even without TDS. Read Article
✅In view of the prevailing geopolitical situation affecting energy supplies worldwide, the Central Government has decided to make an ad hoc allocation of Public Distribution System (PDS) Superior Kerosene Oil (SKO) to the States/Union Territories (UTs), including 21 States/UTs which are PDS SKO free, for distribution to households for cooking and lighting purposes.

29-03-26  
✅DIR-3 KYC now required once every 3 years for directors, with mandatory updates within 30 days for any changes. New MCA rules effective from 31 March 2026—ensure timely compliance to avoid issues. Read Article

28-03-26 
✅ Petrol duty cut to ₹3/litre and diesel to ₹0—fuel costs down, easing logistics and inflation. Talk to Expert 

27-03-26
✅From Feb 2026, GST portal auto-populates GSTR-3B liability breakup—ensure you click SAVE in the tab before filing to avoid errors Talk to Expert
✅Taxpayers can now withdraw GST registration applications using Form REG-32 during processing stage Talk to Expert

26-03-26 
✅ DGFT extends TRQ validity for gold imports under India-UAE CEPA till 30 June 2026 with automatic extension and no additional compliance Read Article
✅ CBDT extends deadline for issuing TDS Certificates (Q3 FY 2025-26) till 31 March 2026 due to portal glitches Talk to Expert

25-03-26
✅Dubai property bought via credit card may violate FEMA—ED investigations underway

23-03-26 
✅ Duty Deferment Scheme now available for eligible manufacturer-importers meeting prescribed compliance and financial criteria

18-03-26
✅ From Feb 2026 onwards, GST portal auto-populates “Tax Liability Breakup” in GSTR-3B based on earlier period invoices reported in GSTR-1/IFF.

11-03-26
✅ The final instalment of Advance Tax for FY 2025-26 is due by 15 March 2026.

10-03-26
✅ The Government of India has invoked the Natural Gas (Supply Regulation) Order, 2026 under the Essential Commodities Act, 1955 to secure and regulate supply of natural gas, LNG and LPG.
 
09-03-26
✅ The Income Tax Department has conducted a nationwide verification in the Food & Beverage sector using AI-based data analytics on around 1.77 lakh restaurants. 
✅Travel delays may affect tax residency.  Even a 2–3 day involuntary stay in India due to flight cancellations can change your tax residency status under Section 6.

08-03-26
✅ India Wins 3rd T20 World Cup: A Historic Triumph at Narendra Modi Stadium.
✅India and the UAE are working on linking their sovereign digital currencies (CBDCs) to enable instant cross-border money transfers.
✅From the February 2026 tax period, Taxpayers can now utilise CGST credit and SGST credit in any proportion for payment of IGST liability, after exhausting available IGST credit.
✅Happy International Women’s Day!

07-03-26
✅ RBI proposes compensation of up to ₹25,000 (85% of loss) for digital frauds up to ₹50,000—even if credentials were shared unintentionally.
✅Calcutta High Court held that police cannot debit-freeze a GST taxpayer’s bank account without a Magistrate’s order under BNSS.

06-03-26
✅ GSTN enables Rule 14A withdrawal facility via Form GST REG-32.
✅Duty free import of 1 new laptop into India under Baggage Rules 2026.

05-03-26
✅ EPFO retained the 8.25% interest rate for 2025 to 26, benefiting over 70 million subscribers. The decision awaits finance ministry approval.
✅Baggage allowance on transfer of Residence to India by working professionals under Baggage Rules 2026
✅Stay alert and follow UAE safety guidelines; Embassy services remain operational with 24×7 helpline (800-46342). Limited India flights are operating, and overstay fines are waived for visas expired after 28 Feb under special circumstances.

04-03-26
✅ India and Canada have taken a significant step in strengthening their bilateral ties by signing a $2.6 billion uranium supply deal, with Canada's Cameco Corp. agreeing to supply 22 million pounds of uranium to India from 2027 to 2035.
✅Wishing everyone a joyful and colourful Holi.