Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Charitable tree plantation and maintenance for environmental preservation treated as "charitable activity", exempt from GST under Notification 12/2017...
The central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
The central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
