Background: Under the Companies Act, 2013, every company is mandatorily required to file its Annual Return (Section 92) and Financial Statements (Section 137). The fees for filing such returns, statements and documents are prescribed under Section 403 of the Companies Act, 2013 read with the Companies (Registration Offices and Fees) Rules, 2014. W. e. f. …
DGFT The Directorate General of Foreign Trade (DGFT), vide Trade Notice has announced the operationalisation of an Inter-Ministerial Group (IMG) for Supply Chain Resilience under the Department of Commerce. The IMG has been constituted following a high-level meeting held on March 02, 2026 to assess the impact of ongoing geopolitical developments on India’s exports, particularly …
Jammu & Kashmir’s (J&K) triumphant Ranji Trophy victory in the 2025-26 season marks a historic milestone – for them and for us. J&K clinched the title for the first time in the domestic tournament’s storied 90-year history. Led by captain Parvez Rasool and standout performer Aquib Nabi, who claimed a nine-wicket haul in the final …
David vs Goliath: In the heart of Vernon Hills, Illinois, Learning Resources Inc., has quietly crafted educational toys and hands-on learning tools ever since 1984. Specialising in products that spark curiosity – from magnetic tiles to science kits, this small privately held company never consciously went out of its way to seek out the limelight. …
In a significant move to strengthen India’s export ecosystem and enhance the competitiveness of Indian exporters in global markets, the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has issued a series of Trade Notices introducing operational guidelines under the Export Promotion Mission (EPM). Through Trade Notices 25 to 29/2025-26 …
The Goods and Services Tax (GST) framework in India increasingly relies on technology to ensure transparency and efficient tax administration. One of the latest technological developments in the GST ecosystem is the Invoice Management System (IMS) introduced by GSTN. The system allows recipients to review invoices uploaded by suppliers and take actions such as acceptance, …
Customs: CBIC, vide Circular No. 08/2026-Customs dated February 28, 2026, has operationalised the extension of the facility of deferred payment of Customs import duty to “Eligible Manufacturer Importers” (EMI), pursuant to Notification No. 12/2026-Customs (N.T.) dated February 01, 2026. The facility shall be available from April 01, 2026 and will remain in force up to …
The Government of Maharashtra, vide Notification dated February 28, 2026, has amended the Maharashtra State Tax on Professions, Trades, Callings and Employments Rules, 1975. Exercising powers under Section 27 of the Act, the amendment advances certain statutory due dates prescribed under the Rules. Under Rule 11(3), the due date of “31st March” has been substituted …
Refund can’t be denied for portal upload limits shipping bill size issue won’t defeat substantive compliance {Jyoti Agro vs. Deputy Commissioner of State Tax [2026] 182 taxmann.com 630 (Gujarat HC)} Facts of the Case The petitioner Jyoti Agro filed a GST refund claim related to export of goods. As per Circular No. 125/44/2019-GST, shipping bills …
ITC claim within sec. 16(5) period cannot be denied as time-barred under sec. 16(4) impugned orders quashed { Malligai Agencies vs. Assistant Commissioner of GST and Central Excise [2026] 183 taxmann.com 607 (Madras High Court)} Facts The petitioner claimed Input Tax Credit within the extended time limit prescribed under Section 16(5) of the CGST Act. …
DGFT: Modalities for eligibility, receipt and processing of applications for issuance of authorizations for export of wheat of 25 LMT has been notified [Public Notice No. 49 /2025-26 dated 24.02.2026]
DGFT: Modalities for eligibility, receipt and processing of applications for issuance of authorizations for export of additional quantity of 5LMT of wheat flour and related products falling under HS Code 1101 has been notified [Public Notice No. 48 /2025-26 dated 24.02.2026]
DGFT: Export of an additional 5 Lakh Metric Tonnes (LMT) of wheat flour and related products (HS Code 1101) has been permitted. This quota is in addition to the quantity previously allowed in January 2026, though the general export policy for these items remains “Prohibited.” [DGFT Notification No. 61/2025-2026 dated 24.02.2026]
DGFT: Export of 25 Lakh Metric Tonnes (LMT) of Wheat has been allowed under a specific quota, even though the general export policy remains “Prohibited.” Additional exports may be permitted beyond this limit to support the food security needs of other countries upon their government’s request. [DGFT Notification No. 62/2025-2026 dated 24.02.2026]
DGFT: Online Application for allocation of Tarrif rate Quota (TRQ) under the above FTA’s for FY 2026-27 has been extended from 28.02.2026 to 15.03.2026. [Public Notice No. 50/2025-26 dated 24.02.2026]
DGFT: Corrigendum to the rationalisation of RoDTEP rates has been issued to clarify that the 50% reduction in rates and value caps shall not apply to export products falling under ITC HS Chapters 01 to 24. [Corrigendum to DGFT Notification No. 60/2025-2026 dated 24.02.2026]
Customs: Updated tariff values for Edible oils, gold, silver, and areca nuts have been notified. Changes apply from 25th February 2026. [Notification No. 23/2026-CUSTOMS (N.T.) dated 24.02.2026]
Service of SCN only through the GST portal, without exhausting other modes, is invalid and vitiates the assessment due to violation of natural justice. { V.S.Muruganandam vs. Deputy State Tax Officer -II [2026] 183 taxmann.com 558 (Madras)} Facts The tax department issued a SCN and subsequently passed an assessment order against the assessee. Both the …
GST Facility for withdrawal from the option availed under Rule 14A has been enabled via Form GST REG-32 to allow eligible active taxpayers to opt out, subject to Aadhaar authentication and minimum return filing compliance. [GSTN Advisory dated 21.02.2026]
DGFT: Rationalization of RoDTEP rates has been notified to limit the applicable benefits for all HS Lines under Appendix 4R and Appendix 4RE to 50% of the existing rates and notified value caps. [DGFT Notification No. 60/2025-2026 dated 23.02.2026]
