India’s foreign exchange framework for exports and imports is set for a significant overhaul from 1 October 2026. The Reserve Bank of India’s Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, together with the accompanying Directions, aim to simplify compliance, provide greater flexibility to businesses and give Authorised Dealer (AD) banks a more significant role in administering the framework. The new…
The 57th GST Council Meeting is scheduled for 7 October 2026 in New Delhi, with the preparatory Officers’ Meetings scheduled for 5 and 6 October. The meeting, which was originally scheduled for 12 September, has now been rescheduled. For businesses, tax professionals and the wider GST community, the upcoming meeting assumes considerable importance. After almost nine years of GST, the focus is no longer merely…
In a service-oriented business, the most important resources are people and technology. Unlike manufacturing, where machinery and physical assets play a major role, service organisations depend largely on the knowledge, skills, judgement and relationships of their people, supported by appropriate technology. Effective resource management, therefore, is not about having the maximum number of people or the latest technology. It is about using the right resource…
As announced in the Union Budget 2026, CBDT has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST – DS), effective from 16th August 2026 to 31st December 2026. FAQs have also been issued to provide further clarity on the scheme. FAST-DS presents a valuable opportunity for small taxpayers to voluntarily disclose foreign assets or income that may have been inadvertently omitted from…
