Registrar and Share Transfer Agents registered under the SEBI Act must furnish half-yearly Statements of Financial Transactions for mutual fund transactions in the prescribed electronic format, with a signed and verified control statement. Reporting supports pre-filling of income-tax returns and requires account holders to receive reported transaction information for reconciliation with the Annual Information Statement. Transaction summaries must cover user-initiated debit transactions, apply FIFO to identify corresponding acquisitions and determine holding periods, and classify assets as short-term or long-term under the prescribed security classes. Estimated sale consideration, acquisition cost, grandfathered cost rules and indexation mus.....

Insolvency Professionals must conduct further enquiry where indicators suggest that CIRP or liquidation may be used for a fraudulent or malicious purpose unrelated to insolvency resolution or liquidation. Relevant indicators include a dominant recently assigned single creditor, connected corporate debtors entering CIRP with overlapping creditors, limited competitive bidding, unsupported disproportionate recoveries, links to fraud proceedings, and unjustified related-party loans or write-offs. Indicators are illustrative and not conclusive; they require holistic, contextual assessment based on records available in the ordinary course. Where reasonable grounds support suspected misuse, the IP must apply to the Adjudicating Authority, identifying the indicators, supporting material, and reasons for seeking directions.

Physical verification of an applicant's place of business is compulsory before registration is granted under the DGST Act, 2017. Proper Officers must complete verification within seven days of receiving the registration application, to avoid delay in processing. The direction follows findings that numerous registered persons were non-existent, including some registered through Aadhaar-based registration, raising concerns of registrations obtained for tax evasion. Under Rule 25, where physical verification is required, the verification report, supporting documents and photographs must be uploaded in Form GST REG-30 on the common portal within 15 working days after verification. Non-compliance will be treated seriously.

In a significant crackdown on attempts to circumvent India's prohibition on imports from Pakistan, the Directorate of Revenue Intelligence (DRI), has seized more than 362 metric tonnes of Pakistan-origin dry dates. Acting on specific intelligence, DRI officers intercepted 13 containers of dry dates imported by a Mumbai-based firm at CFS Ambad, Nashik. The consignments had arrived from Jebel Ali, UAE, with import documents declaring the UAE as the country of origin. Preliminary investigatio... ... ...

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 119/2026 New Delhi, the 14th September, 2026 S.O. 5063(E).- In pursuance of the section 45(4)(b) of the Income-tax Act, 2025, the Central Government hereby approves the Indian Institute of Technology, Roorkee (PAN: AAALI0033R) for Scientific Research under the category of University, college or other institution, for the purposes of section 45(3)(a)(i) of the said Act of 2025 and rules 32 ... ... ...

GOVERNMENT OF INDIA OFFICE OF THE PRINCIPAL COMMISSIONER OF CUSTOMS (PORT) CUSTOM HOUSE, 15/1. STRAND ROAD, KOLKATA- 700001 (WB) Date: 24-12-2024 Public Notice No: 28/2024 / (Port) Attention of all Importers / Exporters, Steamer Agents, Clearing Agents etc. is hereby invited to the fact that Syama Prasad Mookerjee Port, Kolkata, (SMPK), as part of modernizing and augmenting cargo operations, has issued the letter of Award (LOA) for the project of "Rejuvenation of Khidderpore Docks... ... ...

The goods transport agency entry excludes suppliers registered under the CGST Act who opt for forward-charge taxation, issue tax invoices at applicable rates, and make the prescribed Annexure III declaration. Renting a residential dwelling to a registered person is inserted as a reverse-charge taxable category, with any person as supplier and the registered person as recipient. Annexure III records the GTA supplier's registration and forward-charge option for the relevant financial year.

GST service through the Common Portal is an express statutory mode, but portal availability must be distinguished from effective service of an adjudicatory communication. Rule 142 preserves the distinction between a substantive show cause notice or order and its electronic summary in FORM GST DRC-01 or DRC-07. Electronic summaries do not, without more, demonstrate communication of complete allegations, grounds, facts and reasons. Portal-based service must be assessed by statutory compliance, accessibility of the complete communication, and the taxpayer's real opportunity to respond, particularly where appellate limitation is involved.

Intra-State supplies of specified fly ash bricks, fly ash blocks, fossil-meal bricks, building bricks, and earthen or roofing tiles are taxable at a concessional State tax rate of 3 per cent. Eligibility requires non-availment of input tax credit on inputs and input services used exclusively for these supplies. Where such inputs or services are used partly for these goods and partly for other credit-eligible supplies, input tax credit must be reversed by treating the specified goods as exempt supplies under the applicable credit reversal framework.

Transfer-pricing comparability for routine software development services requires exclusion of companies engaged in software products, diversified IT and BPO operations, intellectual-property-led activities, or research and development where reliable segmental data is unavailable. Captive cost-plus service providers funded by associated enterprises generally do not warrant negative working-capital adjustments. For Section 10AA deductions, SOFTEX certification is a post-facto regulatory procedure, while export receipts and formation conditions require verification; expenses excluded from export turnover must also be excluded from total turnover. Reversed expense provisions and short tax-deduction disallowances require verification of payments, tax treatment and revenue impact. Lease extension charges require evidence of accrual, invocation and quantification in the relevant year.

Capital-gains holding periods for a specifically allotted flat may run from the allotment date where enforceable rights in the identified property accrue then, rather than from later possession or conveyance. Builder NOC or transfer charges supported by receipts and required under the sale agreement qualify as transfer expenses under Section 48 and should not be restricted arbitrarily. Residual brokerage claims require verification of the broker's particulars and supporting evidence before disallowance. Section 54 relief depends on verifying the payment date and the full eligible investment in the new asset; the deduction is not necessarily limited to the amount claimed in the return.

The amendment extends the record-retention period under rule 137 from four years to five years with effect from 30 November 2021. FORM GST DRC-03 is revised to cover tax intimation through FORM GST DRC-01A, scrutiny, inspection, and specified return mismatches. Its payment-entry table is replaced to require particulars of tax period, applicable Act, place of supply, tax or cess, interest, penalty, fee, total amount, ledger utilised, and debit-entry details.

Direct Port Delivery of imports is extended to listed importers and applies automatically to Authorised Economic Operators, 100% Export Oriented Units, Special Economic Zone units, Nepal-Bhutan import-transit consignments, and consignments bound for Inland Container Depots. These eligible categories need not apply separately. Other importers may apply under the existing DPD application procedure. Listed importers are advised to seek Authorised Economic Operator status for assured facilitation and associated benefits.

Functions under Section 70 of the Delhi Goods and Services Tax Act, 2017 are assigned to Special Commissioners, Additional Commissioners, Joint Commissioners, Assistant Commissioners and Goods and Services Tax Officers of the Department of Trade and Taxes, Delhi. They may perform the functions of a proper officer under that provision pursuant to the Commissioner's assignment power and the statutory definition of proper officer.

Direct Port Delivery permits eligible importers to take imported Full Container Load containers directly from port terminals where Bills of Entry are RMS-facilitated and no examination is required. Importers must file Bills of Entry, obtain delivery orders, pay duty in advance and evacuate containers within 48 hours of landing. Delayed, damaged, tampered, non-RMS or examination-required containers must be moved to a CFS for normal clearance. Shipping lines, port terminals, CFS operators and transporters must follow prescribed manifesting, advance-intimation, registration, yard-management and cargo-handling requirements.

Timeline for surrender of unutilised tariff-rate quota (TRQ) quantities allocated for import of 10 lakh MT of raw sugar is extended until 30 September 2026. TRQ holders may surrender unutilised allocated quantities subject to payment of an amount equal to 0.5% of the CIF value of the quantity surrendered, in accordance with existing modalities. All other conditions governing the raw-sugar TRQ allocation and surrender process remain unchanged.

Proposed non-preferential rules of origin require export goods to be manufactured by the exporter and, where imported inputs are used, to undergo processing beyond specified minimal operations. Export certificates of origin evidence origin without preferential tariff entitlement and may be issued electronically by authorised agencies; eligible Status Holder manufacturer exporters may self-certify. Import origin is determined through wholly obtained criteria for specified agricultural goods and, for other goods, tariff-heading change or prescribed value addition. Importers must self-declare origin, with clearance generally based on that declaration and limited risk-based verification.

Enforcement I and Enforcement II branches are redesignated as Anti-Evasion Cell-I and Anti-Evasion Cell-II to prevent tax evasion and monitor tax collection. Anti-Evasion Cell-I performs functions relating to inspection, search, seizure and arrest under the applicable enforcement provisions and procedural rules. Anti-Evasion Cell-II performs functions relating to inspection of goods in movement, including applicable electronic way bill, inspection, search, seizure and related procedures.

Export containers with Let Export Order that are shut out or not shipped from KPD-1 West may be transferred to NSD only under preventive escort on a MOT basis, with prior approval, prescribed inter-terminal permits, reconciliation reporting and an indemnity bond. DPD containers remaining for more than 48 hours may be removed to designated areas at Century CFS JJP and Century CFS Sonai. The CFS custodians are responsible for removal, must maintain prescribed movement records, submit periodic reconciliation reports and execute indemnity bonds.

Containerized cargo at KPD-1(W) follows established customs procedures for imports, exports, DPD/DPE cargo, scanning-selected containers, and Nepal-Bhutan movements, subject to operational adjustments by Dock Customs Officers. Nepal-bound imports move by road to the NSD 7 Rail Yard under RFID sealing and the custodian's import continuity bond before ECTS rail movement. Scan-selected containers may use the Container Scanning Division, while DPD/DPE containers use designated return routes. Shipment-ready export DPE containers may use the Pre-Gate facility pending a separate KPD-1(W) facility.