GSTAT Kolkata Bench Starts Functioning

The Kolkata Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) has commenced functioning, with all appeals from designated jurisdictions now required to be filed before it.The Tribunal clarified that it will exercise jurisdiction over West Bengal, Sikkim and Andaman and Nicobar Islands in Public Notice No. 01/2026 dated 23.03.2026, issued by the GSTAT Kolkata Bench. The office of the Kolkata Bench is located at 2/5, Judges Court Road, Alipore, Kolkata–700027 (Old Door Sanchar...

Corporate Laws (Amendment) Bill 2026: Govt Proposes Decriminalising Minor Comapanies Act Defaults, CSR Changes

The Corporate Laws (Amendment) Bill, 2026, was introduced in the Lok Sabha on Monday, proposing changes to the Companies Act, 2013, and the Limited Liability Partnership Act, 2008, that would remove criminal liability for several procedural violations, revise penalty provisions, and give wider statutory powers to regulators. One of the central proposals in the bill is to move a number of compliance-related offenses out of the criminal framework. At present, certain technical defaults can lead...

RBI Imposes ₹31.80 Lakh Penalty On HSBC For Violating Rules On Inoperative Accounts, Unclaimed Deposits

The Reserve Bank of India (RBI) has recently imposed a monetary penalty of Rs 31.80 lakh on The Hongkong and Shanghai Banking Corporation Limited (HSBC) for failing to comply with its directions on inoperative accounts and unclaimed deposits, the central bank said in a press release issued on March 20, 2026. The action stems from an order dated March 18, 2026, passed in exercise of powers under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949. The action follows...

Finance Minister Nirmala Sitharaman Launches PRARAMBH 2026, Unveils Income Tax Website 2.0

Union Finance Minister Nirmala Sitharaman on Friday (March 20) launched the Income Tax Department's nationwide outreach campaign 'PRARAMBH 2026' in New Delhi and also inaugurated the revamped Income Tax Website 2.0 as part of efforts to prepare taxpayers for the new Income Tax Act, which will come into force from April 1, 2026. The upgraded e-filing portal has been designed to provide improved usability, simpler navigation, and more efficient service delivery to taxpayers as part of the...

CBDT Notifies 2026 Income Tax Rules Introducing 'Tax Year' System, Streamlines Compliance Framework

Today, the Central Board of Direct Taxes (CBDT) notified the Income Tax Rules, 2026, which will come into force from 1 April 2026. The draft rules were published on 9 February 2026 for public consultation, inviting suggestions and feedback.The rules establish the procedural framework for implementing the Income Tax Act, 2025, which repeals the Income-tax Act, 1961. Also Read: CBDT Issues Draft Income Tax Rules And Forms For New Act With 34% Fewer Rules [Read Draft Rules Here]The repeal...

GSTAT Rajkot Bench Starts Functioning

The GST Appellate Tribunal's Rajkot bench has begun functioning, with authorities issuing a trade notice on March 18 to inform businesses and tax professionals that the long-awaited forum is now operational in Gujarat. The tribunal is working from its office at the RK Iconic building on 150 Feet Ring Road in Rajkot. Officials said appeals can be filed through the GSTAT online portal, which was rolled out last year, and a toll-free helpline has also been provided to help users facing difficulty...

Cheque Bounce Case Cannot Be Dismissed For Want Of Service Report; MP High Court Frames Guidelines On Presumption Of Service

The Madhya Pradesh High Court has held that non-production of a service report or postal track report cannot by itself be a ground to dismiss a complaint under Section 138 of the Negotiable Instruments Act at the threshold, particularly when the complainant asserts that the statutory notice was duly dispatched to the correct address of the accused. Justice Himanshu Joshi observed that once a notice is properly addressed, prepaid, and sent by registered post, a presumption of service arises...

70th ICAI Northern India Regional Council Meeting Without Notice: Delhi HC Sets Aside Member's Seat Vacation

The Delhi High Court has set aside a decision of the Institute of Chartered Accountants of India (ICAI) declaring an electedNorth India Regional Council member's seat vacant, holding that one of the meetings relied upon for invoking automatic vacation under the regulations had been convened without proper notice and could not be relied upon for the purpose of treating the member as absent from three consecutive meetings. The court noted that under Regulation 135(3) of the Chartered Accountants...

Aam Aadmi Party MP Raghav Chadha Introduces Asset Tokenisation Bill In Parliament

Aam Aadmi Party MP Raghav Chadha has introduced a Private Member's Bill in Parliament titled the Asset Tokenisation (Regulation) Bill, 2026, aiming to establish a legal framework for regulating tokenised real-world assets in India.A token is a digital item representing ownership or value and exists on a shared online system, such as a blockchain. Tokens may represent various assets or rights, including currencies, voting power, or other entitlements. A token's value can be monetary, social,...

Delhi Court Grants Ad-Interim Injunction, Summons Telegram In Education Institute's IP Infringement Case

The Tis Hazari District Court in Delhi has granted an ad-interim ex-parte injunction to protect the intellectual property of Malkans Training Institute Pvt. Ltd. and its founders, Vishal B. Malkan and Meghana V. Malkan, in a trademark and copyright infringement suit against Telegram Messengers LLP and others. The court also issued summons to the defendants, including Telegram, after observing that the plaintiffs had made out a strong prima facie case of trademark and copyright infringement as...

Delhi High Court Sentences Reliance Entertainment Studios Executives To 4 Weeks Jail For Contempt Over T-Series Dues

The Court has, however, kept the sentence in abeyance for two weeks to allow payment of the remaining amount along with interest.

No Separate GST Treatment For Ultra-Processed Foods, High-Fat Items: Finance Ministry Tells Lok Sabha

The Union government has informed the Lok Sabha that the Goods and Services Tax (GST) framework does not provide separate tax treatment for ultra-processed foods (UPFs) or foods high in fat, sugar, or salt (HFSS), and that no formal assessment has been undertaken on the potential health and economic benefits of imposing higher taxes on such products. Responding to a question asked by Congress MP G. Kumar Naik from Raichur in Karnataka, Minister of State for Finance Pankaj Chaudhary said on...