INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 31st August 2026 International Financial Services Centres (Fund Management) (Second Amendment) Regulations, 2026 IFSCA/GN/2026/ 015.-In exercise of the powers conferred by sub-section (1) of section 28 read with sub-section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres Authority Act, 2019 (50 of 2019), and section 28C of the Securities and Exchange Bo... ... ...

Axis Bank aims to hold more than 2.5 lakh customer conversations during the week through engagement initiatives, leadership immersions and community outreach programmes across diverse customer touchpoints nationwide Mumbai, Maharashtra, India (NewsVoir) Axis Bank, one of the largest private sector banks in India, today announced the launch of Sparsh Week 2026, its flagship customer obsession initiative that brings together customers, employees and leaders across the country to strengthen rel... ... ...

The partnership brings global investing to Wizzmoni’s customers through a simple, digital experience powered by Appreciate’s GIFT City IFSC infrastructure Mumbai (Maharashtra) [India], September 10: Wizzmoni Financial Services Limited (formerly Unimoni Financial Services Limited), one of India’s leading foreign exchange and financial services providers, today announced a strategic partnership with Appreciate, a global investing infrastructure platform, to enable its customers to invest in global... ... ...

New Delhi, Sep 10 (PTI) A Delhi court on Thursday ordered framing of money laundering charges against former railway minister Lalu Prasad Yadav, his wife Rabri Devi, son Tejashwi Yadav and six others in the Enforcement Directorate's case regarding the alleged IRCTC hotel scam. Out of 16 accused, Special Judge Vishal Gogne discharged seven and framed charges against nine. Pronouncing the substantive portions of the order orally, the judge said the exacting standards of finding the criminal ... ... ...

Financial-sector digitalisation is being advanced through proposed tokenisation of corporate bonds, digital public infrastructure for next-generation financial services, and recognition of an additional self-regulatory organisation. The Unified Lending Interface is identified as an example of such infrastructure. Trust is central to the financial system, and fintech entities are expected to treat data as a fiduciary responsibility rather than as a business asset. United Fintech Forum has received approval as the second self-regulatory organisation for the financial sector.

GST recovery involving business entities undergoing Insolvency and Bankruptcy Code proceedings must follow the previously issued recovery guidelines. Ward Incharges must take timely action on cases forwarded to their wards, strictly adhere to the prescribed framework, and submit monthly compliance reports through their respective Zonal Incharge to the Law and Judicial Branch from January 2022 onwards.

Rule 28(2) values related-party corporate guarantee services supplied to a banking company or financial institution at the higher of actual consideration and one per cent per annum of the guaranteed amount. The service is taxable independently of loan disbursal and is valued on the amount guaranteed. Fixed-term guarantees are valued for their full period, while renewals are valued on each renewal. Domestic intra-group guarantees follow forward charge and overseas related-party guarantees to Indian recipients follow reverse charge. Invoice value is accepted where full input tax credit is available, and Rule 28(2) excludes guarantees supplied to recipients located outside India.

Exemption from the suitability test for Graduate Typists and Confidential Assistants dispensed only with the qualifying-test requirement; it did not grant preferential promotion rights as Section Officers. The exemption expressly preserved the claims of eligible non-graduate candidates who had passed the test and awaited appointment. A later clarificatory order could not enlarge the original exemption into a continuing graduate preference after its effective date. Eligible non-graduates who satisfied the test requirement therefore retained their claims to appointment and consequential service benefits without being subordinated to exempt graduate candidates.

Deduction under section 80IB(10) extends to additional income disclosed during a search where unrecorded customer receipts arise from sales of flats in an otherwise eligible housing project. Such receipts retain the character of housing-project business income despite not being recorded in the regular books. Assessment under the search provisions requires total income to be computed by applying other applicable provisions, including Chapter VIA deductions, provided the prescribed conditions are met. The disclosed income therefore qualifies for the housing-project deduction when its source is the eligible project.

Penalty waiver in 2A and 2B mismatch objection cases may be considered where the mismatch amount does not exceed Rs. 10,000. The dealer must voluntarily deposit the due tax and accrued interest before the hearing date and submit proof of payment. Subject to these conditions, the Special Objection Hearing Authority may consider waiving the penalty to reduce avoidable litigation and objection pendency.

MSME export readiness requires consistent product quality, reliable delivery, documentation, regulatory compliance and operational systems capable of sustaining buyer trust. Digital trade processes require relevant registrations, including IEC and GST, and use of ICEGATE and DGFT systems. Free Trade Agreements may enable reduced or zero customs duties in specified markets, subject to applicable eligibility conditions and rules.

Blocked input tax credit under Rule 86A of the GST Rules, 2017 may be restricted where wrongly or fraudulently availed, but the restriction ceases after one year if no action has been taken. Identified cases involving ITC blocked beyond one year were required to be reviewed by zonal and ward in-charges, with action taken updated in the KPI 18 sheet and a compliance report furnished to the BIU.

GST registration is prohibited, for the time being, unless biometric-based Aadhaar authentication is completed. The requirement applies across the country and addresses fraudulent registrations obtained through misuse of PAN and Aadhaar details. Biometric authentication is treated as necessary to curb fake registrations, revenue loss and harassment caused by identity misuse. Authorities may raise objections concerning practical difficulties in implementation.

De-notification of 0.0792 hectares from an Information Technology and Information Technology Enabled Services Special Economic Zone reduces the notified SEZ area from 5.37 hectares to 5.2908 hectares. The land comprises Survey No. 439 in Sholinganallur village. The action is exercised under the second proviso to section 4(1) of the Special Economic Zones Act, 2005, read with rule 8 of the Special Economic Zones Rules, 2006, after State Government approval, Development Commissioner recommendation, and fulfilment of applicable statutory requirements.

Additional IGST refund claims arising from an upward revision of export-goods prices may be filed electronically in FORM GST RFD-01 and are processed by the jurisdictional GST officer. Eligibility depends on documentary establishment of the price revision, payment of additional IGST and applicable interest, and receipt of corresponding additional foreign-exchange remittance. The officer must verify GSTR-1 reporting, GSTR-3B payment, revised export value, and foreign-exchange remittances. Claims below the prescribed minimum are not payable, and filing is subject to the applicable two-year limitation period.

Verification of unutilized input tax credit carried from pre-GST tax regimes through TRAN-1 and TRAN-2 is required to ensure that migrated dealers claim only eligible transitional credit. Proper officers must examine the genuineness of such credit under the applicable GST transitional provisions by referring to prior-regime returns, relevant invoices and GST portal reports. The verification is required to be completed within the prescribed three-month period to safeguard revenue.

Banking concerns consistently valuing Government securities as stock-in-trade may claim deduction for diminution in value and amortisation of premium on securities held to maturity, where the recognised accounting method and applicable banking norms support that treatment. Premium amortisation on held-to-maturity Government securities remains deductible. Provision for depreciation in the value of Government securities is likewise allowable when it accords with the bank's consistently followed valuation practice. The admissibility of both deductions depends on the recognised method of accounting for banking investments.

CSD refund claims for fifty per cent of applicable taxes on eligible inward goods for subsequent supply to Unit Run Canteens or authorised customers must be filed electronically in FORM GST RFD-10A. Claims require supplier invoice and return compliance, clear GSTIN details, an eligible-use undertaking, and a no-prior-claim declaration. The proper officer verifies return filing, invoice matching, supplier compliance, input tax credit reversal, completeness and eligibility. Portal validation excludes unmatched and previously claimed invoices, and auto-populated refund amounts may only be reduced.

The key performance indicator framework monitors GST and DVAT compliance through return-filing defaults, return mismatches, high input tax credit use, e-way bill discrepancies, pending assessments, refunds, recovery demands and suspected fake firms. Relevant taxpayer data must be pre-filled in zonal Google Sheets by designated branches. Data is downloaded monthly, uploaded by the first day of the following month, and supplemented by Ward Officers' action-taken updates by the fifth day. Leading GSTR-1/GSTR-3B and GSTR-2A/GSTR-3B mismatch cases are separately supplied at State and zonal levels for supervisory review.

GST registration may be suspended immediately where return comparisons or other analysis reveal significant discrepancies indicating contravention that may lead to cancellation and pose a revenue risk. The affected person receives electronic intimation and must reply within thirty days through FORM GST REG-18, including compliance with pending return filing where applicable. After considering the reply or its absence, the proper officer may restore registration through FORM GST REG-20 or cancel it through FORM GST REG-19. Revocation of suspension does not prevent further verification, tax recovery, or fresh cancellation proceedings.