An Analysis on the Prevention of Sexual Harassment ACT, 2013

  Handling of Inadvertently Rejected records on IMS dated Jun 19th, 2025 To enable taxpayers to efficiently address invoice corrections or amendments with their suppliers through the GST portal, a new communication mechanism is being introduced. This initiative aims to assist taxpayers in reconciling their records with invoices issued by suppliers, thereby ensuring accurate Input Tax Credit (ITC) claims. However, taxpayers have encountered certain challenges in this process. To address these issues, the GSTN has implemented enhanced controls and greater transparency to effectively resolve the queries and concerns raised by taxpayers: Question 1: How can a recipient avail of ITC of wrongly rejected Invoices / Debit notes / ECO-Documents in IMS, as the corresponding GSTR-3B of the same tax period was also filed by the recipient? Answer: In such cases recipient can request the corresponding supplier to report the same record (without any change) in the same return period’s GSTR-1...

 In line with the  Finance Act, 2023  and recent advisories issued by  GSTN/CBIC , the following major changes will come into force from the  July 2025 tax period  (i.e., returns due in  August 2025 ): GSTR-3B to Become Non-Editable Starting July 2025,  GSTR-3B will be fully auto-populated and non-editable . Taxpayers will  no longer  be permitted to manually alter tax liabilities or input figures. Any corrections to outward supplies must be made through  GSTR-1A , prior to filing GSTR-3B. Once GSTR-3B is submitted,  no further changes will be allowed  under any circumstances. This move is aimed at  ensuring strict reconciliation  between GSTR-1 and GSTR-3B data, thereby enhancing transparency and reducing discrepancies. 3-Year Time Limit for Filing Returns Effective  July 1, 2025 , the GST portal will  restrict the filing of returns that are more than 3 years past their original due da...

  What is IREDA? Indian Renewable Energy Development Agency Limited (IREDA) is a ‘Navratna’ Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). IREDA is based in New Delhi, operating nationwide. Its mission is to pioneer financing for renewable energy and energy efficiency projects, under its motto, “ENERGY FOR EVER”. It’s the backbone of green financing in India, enabling affordable funding for clean-energy projects across the country. What is Section 54EC of the Income Tax Act, 1961? The Section offers capital gains tax exemption when long-term gains from the sale of land or building are reinvested in notified bonds within 6 months of the sale. You may invest your long-term capital gains into specified bonds issued by: REC (Rural Electrification Corporation) PFC (Power Finance Corporation) IRFC (Indian Railways Finance Corporation) NHAI (National Highways Authority of India) Additionally, new issuers can be Governmen...

 The Competition (Amendment) Act, 2023 marks a significant milestone in the evolution of India’s competition law framework. Enacted to address the challenges of a rapidly transforming market, especially in the digital economy, the amendment seeks to enhance regulatory efficiency, promote fair competition and align domestic practices with global standards. From introducing a deal value threshold for mergers and acquisitions to empowering the Competition Commission of India (CCI) with stronger investigative tools, the Act aims to streamline enforcement, close legal loopholes and ensure timely resolution of anti-competitive practices.  Driving Market Fairness and Efficiency: Objectives of the 2023 Competition Law Amendments Significant Growth of Indian Markets and Evolving Business Models Over the past decade, India has witnessed rapid economic expansion, digital transformation and a surge in startup activity. Traditional business models have evolved dramatically, w...

In a recent SEBI’s interpretative letter dated 03.04.2025 addressed to DCB Bank Ltd. The SEBI has provided crucial clarity on the designation a hierarchical placement of Compliance Officer in Listed Companies under Reg 6 (1) of SEBI(LODR), Regulation, 2015. Background DCB bank approached SEBI through a formal request dated 09.01.2025, seeking informal guidelines on whether its current compliance officer, Ms. Rubi Chaturvedi who holds a position five level below to Board of Directors and report to the MD & CEO- meets the revised criteria under amended LODR. SEBI Interpretation SEBI clarified that under the amended proviso to Regulation 6 (1), the Compliance Officer must be: Positioned One level below the Board of Directors i.e. directly below the MD or Whole Time Director. The Positioned is necessary to ensure greater without and access to decision making at the board level, enabling the Compliance Officer to effectively discharge their regulatory and governance responsibilities. Ke...

Introduction to BIS Certification in India As India strengthens its regulatory framework to prioritize product safety, quality and consumer protection, the Bureau of Indian Standards (BIS) plays a central role in shaping market access rules, particularly for imports. A key development is the forthcoming Omnibus Technical Regulation, effective September 1, 2026, which significantly expands the range of products requiring mandatory BIS certification. This regulation is part of a broader government strategy to align domestic practices with global standards, enhance industrial safety and ensure consumer confidence in both imported and locally manufactured goods. BIS operates under the Ministry of Consumer Affairs, Food and Public Distribution and serves as India’s national standards body. Under the BIS Act of 2016, all products manufactured, sold, distributed or imported into India must conform to specific safety and quality standards. Non-compliance can lead to legal penalties and import ...

 Recently, the MCA has officially notified the Companies (Accounts) Second Amendment Rules, 2025, which bring about important updates to statutory disclosures and digital compliance obligations under the Companies Act, 2013. Purpose of the Amendment- The MCA introduced such an amendment to reflect the government’s ongoing efforts to increase accountability, digitize statutory filings and promote a safer and more inclusive work environment. The objectives behind the Companies (Accounts) Second Amendment Rules, 2025 are multifaceted Enhancing transparency by digitizing key statutory disclosures. Upholding accountability by mandating disclosures on workplace conduct and employee rights. Promoting gender inclusivity through a focus on sexual harassment and maternity benefit compliance. Ensuring better governance by tightening corporate reporting practices and workplace ethics. Filing of Extracts of Board Report and Auditors Report The new amendment also brings in a requirement to ...

  Amendments to Directions - Compounding of Contraventions under FEMA, 1999: A Cap on Penalty in Select Cases The Reserve Bank of India (RBI), through A.P. (DIR Series) Circular No. 17/2024-25 dated October 1, 2024 and subsequent Master Directions on Compounding of Contraventions under FEMA, 1999 dated April 22, 2025 , has introduced a noteworthy amendment aimed at making the compounding process more rational and equitable. This amendment specifically introduces a cap of ₹2,00,000 per contravention under certain conditions, significantly impacting the way minor or technical violations under FEMA are treated. Background: Compounding Under FEMA The Foreign Exchange Management Act (FEMA), 1999 , provides for compounding as a voluntary mechanism where individuals/entities can admit to contraventions and regularize them by paying a monetary penalty, thereby avoiding prosecution and lengthy legal proceedings. The Reserve Bank of India is empowered under Section 15 of the Foreign Excha...

Source:   SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2025/47 Date of Issue:  April 10, 2025 The Securities and Exchange Board of India (SEBI), through its Circular No. SEBI/HO/CFD/PoD2/CIR/P/2025/47, has ushered in a new era of transparency, governance and accountability for India’s listed entities and those aspiring to list on Indian stock exchanges. These reforms significantly enhance the framework for corporate disclosures, focusing on materiality, ESG reporting, IPO preparedness and board accountability. With increasing global scrutiny on corporate governance and investor protection, SEBI’s initiative aligns Indian capital markets more closely with international regulatory standards. As Indian companies attract greater interest from global investors and expand their footprint, robust disclosure norms become not just a regulatory requirement but a strategic imperative. The revised guidelines mandate proactive, timely and granular disclosure of material events, the adoption of...

 The Foreign Exchange Management (Overseas Investment) (Amendment) Rules, 2025 represent a significant step in enhancing compliance, transparency, and regulatory oversight concerning India’s outbound investments. Introduced by the Reserve Bank of India (RBI) in collaboration with the Ministry of Finance, these amendments aim to streamline procedures, mitigate risks, and align India’s foreign investment policies with global best practices. As India continues to cement its position as a key player in the global economy, these regulatory changes are crucial to ensuring responsible and efficient overseas investments by Indian entities. Impact on Indian Businesses and Financial Institutions The amended rules are expected to have far-reaching implications for Indian corporates, financial institutions, and investors engaging in cross-border transactions. Key anticipated effects include: Increased Compliance Costs: Businesses will need to invest in stronger compliance mechanisms to mee...

Quick Fact: Indian Drone Industry The number of manufacturers of drones and unmanned systems is around 250. In India, the drone ecosystem is regulated by the government through the Directorate General of Civil Aviation (DGCA) under the Ministry of Civil Aviation. The regulatory authority to oversee and manage drone operations comes from the Aircraft Act, 1934 and the Aircraft Rules, 1937. Industry estimates indicate that over 3,000 drones are currently used in Indian agriculture, with numbers expected to exceed 7,000 by FY25. In April 2023, the Ministry of Agriculture introduced standard operating procedures for drone-based pesticide application on 10 crops, such as rice, wheat, cotton and maize.   Government  Initiatives PLI Scheme for  Drones and Drone Components The purpose of this scheme is to encourage domestic production of drones and their components in India, aiming to achieve self-reliance and global competitiveness. The scheme will be implemented over...