Supply of cement and iron: transaction value for unrelated buyers; invoice value for related buyers eligible for ITC; transport exempt.
For supplies to unrelated recipients where price is the sole consideration, value is the transaction value under Section 15(1); for supplies to related persons eligible for full input tax credit the invoice value is deemed the open market value under Rule 28; transportation of goods by road to unregistered persons without consignment notes does not qualify as GTA and is exempt from GST under serial number 21A of Notification No. 32/2017 CT (Rate). (AI Summary)

Genetically modified foods now require urgent regulation, interim market controls, and coordinated biosafety risk assessment.
The Rajasthan High Court mandated urgent finalisation and notification of GM food regulations under Section 22, imposed an interim bar on manufacture, import, sale and distribution of GM foods until regulations are notified, required strengthened coordination between the food regulator and biosafety authority, upheld labelling rules while clarifying they do not replace statutory regulations, and invoked the precautionary principle and constitutional duties under Article 21 and Article 47 to justify regulatory action and alignment with international biosafety obligations. (AI Summary)

Chemical industry voluntary code promotes safety, environmental stewardship, and security measures for handling dual-use chemicals.
A voluntary framework requires chemical companies to adopt practices beyond legal minima to manage safety, environmental impact, and the security risks of dual-use chemicals, including risk assessments, lifecycle management, waste and water controls, emergency preparedness, supply chain due diligence, export-control compliance, internal and third-party audits, and employee training to prevent diversion or misuse. (AI Summary)

Chemical industry voluntary code promotes environmental responsibility, safety, ethical conduct, supply chain due diligence, and ESG reporting.
A voluntary code of conduct for the chemicals industry sets non binding standards to promote environmental responsibility, workplace and product safety, ethical conduct, regulatory compliance, and transparency. It requires emissions and waste reduction, sustainable product design, risk assessments, employee training, emergency response plans, supply chain due diligence, anti corruption measures, and regular internal and third party audits. Companies should establish governance for implementation, monitor and report progress, engage stakeholders, invest in R&D for safer chemicals, pursue continuous improvement, and integrate ESG reporting and product lifecycle stewardship. (AI Summary)

Free Trade Agreements require exporters to meet rules of origin, product standards, documentation, and accurate tariff classification to obtain preferential tariffs.
Central compliance obligations under FTAs include Rules of Origin, product specific regulatory requirements, and rigorous documentation and record keeping; Rules of Origin determine eligibility for preferential tariff treatment by requiring that goods be wholly obtained or sufficiently transformed within member territories, while product standards and accurate tariff classification further condition access to preferential rates and often demand testing, certification, and specialist coordination. (AI Summary)

Credit Guarantee Scheme for Exporters offers 100% collateral-free credit guarantees to boost exporter liquidity and competitiveness.
The Credit Guarantee Scheme for Exporters provides 100% credit guarantee coverage for additional credit facilities up to Rs. 20,000 crore and enables collateral-free credit to eligible MSME and non MSME exporters. The Department of Financial Services will oversee implementation through a Management Committee chaired by the Secretary, while a designated guarantee trustee entity will handle operational management, credit disbursement, and risk management to enhance liquidity, market diversification, and export competitiveness. (AI Summary)

CFOs must enhance disclosure on covenants, supplier finance and global minimum tax exposure to clarify liquidity and governance.
The amendment rules require classification of liabilities as current unless an entity has an unconditional right to defer settlement for at least 12 months at the reporting date, and mandate detailed disclosure of covenant terms, assessment timing and liquidity risk. They also require explicit disclosure of supplier finance arrangements and their working capital effects, integrate these into financial instrument disclosures, provide a temporary deferred tax exemption for global minimum tax exposure with substantial disclosure expectations, and grant transition relief on lease classification for first-time adopters. (AI Summary)

Real estate land sales by a developer are transfers of title, not taxable agency services, absent agency evidence.
Transactions where a developer purchases and transfers land were characterised as transfers of title, not services by a Real Estate Agent, because the developer bore procurement risk, there was no agency or consultancy contract, and remuneration was a price margin rather than a commission. Section 65B(44)(ai) excludes mere transfers of immovable property from "service", and the proviso extending limitation applies only for proven deliberate suppression, not mere non-payment; accordingly, the service tax demand and extended assessment were unsustainable. (AI Summary)

Assignment of decrees for specific performance does not require registration when decree does not create title.
Registration is compulsory only for instruments that create, declare, assign, limit or extinguish any right, title or interest in immovable property; a decree for specific performance does not itself vest title and an assignment that only conveys the right to pursue execution of that decree does not require registration under the Registration Act. (AI Summary)

CFOs and sustainable growth: integrate accounting, governance, and insight to drive resilient, transparent financial leadership.
Elevating Accounting, Governance, and Insight into integrated pillars enables sustainable growth: accurate, real-time accounting underpins strategic decisions; governance provides transparent disclosures, robust internal controls and compliance across the enterprise; and insight transforms data into predictive models, scenario analysis and analytics that inform strategy, resilience and stakeholder confidence. (AI Summary)

Quality Control Orders reshape imports and manufacturing, raising standards and compliance costs and affecting MSMEs' competitiveness.
QCOs under the BIS Act require BIS certification for specified finished goods and intermediate inputs, reducing low-quality imports but increasing compliance costs, testing delays, and landed costs for raw materials; this dynamic supports domestic quality standards and market fairness for larger firms while disproportionately burdening MSMEs and potentially raising production and export prices when essential inputs face certification constraints. (AI Summary)

Cotton seed oil cake exempt from GST when used as cattle feed, irrespective of whether sold to traders or users.
Cotton seed oil cake sold for use as cattle feed is exempt from GST where the product's end use is as cattle feed; the supply route to traders or end users does not alter the exempt character, and an insertion identifying cottonseed oil cake in the notification underpins exemption for the relevant period. (AI Summary)

Transfer pricing: infrastructure fees and reimbursements must be benchmarked separately even if included in service cost.
The two streams of payments-"infrastructure services fees" and "reimbursement of expenses"-constitute separate international transactions that must be verified and benchmarked independently; allocation methodology, supporting third party documentation, and reasonableness of cost allocation must be examined even if the aggregate service price has been accepted as at arm's length. (AI Summary)

One Person Company annual compliance: file AOC-4 and MGT-7A, appoint statutory auditor, hold meetings, and file ITR on time.
Annual compliance for an OPC requires filing audited financial statements (AOC-4) and the annual return (MGT-7A), appointing a statutory auditor via ADT-1, holding at least one board meeting each half-year, maintaining books and statutory records, and filing Income Tax Returns annually; non compliance attracts daily monetary penalties, director disqualification, inactive company status and MCA notices. (AI Summary)

Medical device labelling now falls solely under medical regulations, removing packaged-commodities rules and easing compliance.
The Legal Metrology (Packaged Commodities) Amendment Rules, 2025 exclude medical devices from LMPC jurisdiction and place device labelling exclusively under the Drugs and Cosmetics Act and the Medical Devices Rules, 2017, thereby centralising declarations such as unique device identification, sterility, usage warnings, shelf-life and manufacturer information within health-centric regulation and removing FMCG-style typographical and display requirements. (AI Summary)

Working capital affects daily business liquidity; manage inventory, receivables, payables, cash, and financing decisions for efficiency.
Working capital is the excess of current assets over current liabilities and indicates short term financial health. It is treated as Gross Working Capital (total current assets) and Net Working Capital (current assets minus current liabilities). Measurement uses ratios-Current Ratio, Quick Ratio, Working Capital Turnover, Inventory Turnover, Receivables Turnover, and Payables Turnover-to assess liquidity and efficiency. Operational management spans inventory, receivables, payables and cash management, while financing choices (matching, conservative, aggressive) and measures to reduce the cash conversion cycle improve working capital efficiency. (AI Summary)

India's drone industry benefits from uniform 5% GST and simulator exemptions to boost manufacturing, training, and services.
The GST reform establishes a uniform 5% GST on drones and exempts flight and motion simulators, reducing classification uncertainty, lowering acquisition costs, improving manufacturer margins, and enhancing training affordability; these fiscal measures, coupled with production-linked incentives, liberalised operational rules, and a national digital platform, are intended to catalyse domestic component manufacturing, expand Drone-as-a-Service, and accelerate sectoral adoption, while addressing challenges of import dependence, startup financing, regulatory bottlenecks, and safety and privacy concerns. (AI Summary)

CFO leadership aligns accounting, compliance and audit to enable sustainable growth, resilient governance and strategic financial integrity.
Sustaining organisational growth depends on the CFO elevating financial functions into strategic, governance-oriented pillars that deliver trust, transparency and long-term resilience. Accounting must provide accurate, timely reporting and digitalised ecosystems to inform decisions; compliance should be embedded as an enabler through governance-aligned policies and controls; and audit leadership must supply independent, risk-based assurance and actionable insights. Integrated under CFO orchestration, these pillars improve reporting, surface risks earlier, and enable proactive, disciplined growth. (AI Summary)

CFOs use accounting intelligence-systems, analytics, and governance-to drive sustainable, scalable corporate growth.
Modern CFOs must use Accounting Intelligence-integrated systems, disciplined controls, real-time accurate reporting, and advanced analytics-to ensure financial integrity and convert data into strategic insight. Scalable, cloud-enabled processes and skilled finance teams enable automation, visibility, and granular profitability analysis, while robust Governance-transparent disclosures, timely compliance, ethical practices, and continuous risk oversight-anchors credible, sustainable growth. (AI Summary)

Trade secrets: a proposed law defines protected confidential information, imposes duties, and creates civil and criminal remedies.
The Protection of Trade Secrets Bill, 2024 defines trade secret as non generally known confidential information with economic value maintained by reasonable secrecy measures, imposes an explicit duty of confidentiality on employees, contractors and partners, mandates organisational and digital security measures, and provides civil remedies (injunctions and damages) alongside criminal sanctions (fines and possible imprisonment) for unauthorised acquisition, use or disclosure, while including whistleblower protection and proposing specialised adjudicative mechanisms. (AI Summary)