Today’s key finance, tax & compliance changes for professionals — what changed and why it matters.
Companies Act
Commencing Business Before Filing INC-20A: ROC imposes ₹3.5 Lakh Penalty
TaxGuru – Notifications/Circulars · 2026-06-13
The Registrar of Companies (ROC) has imposed a penalty of ₹3.5 lakh on a company and its directors for commencing business operations without filing the mandatory declaration under Section 10A of the Companies Act. This violation occurred due to a 179-day delay in compliance with the requirement to file INC-20A. Why it matters: This ruling underscores the importance of timely compliance with regulatory requirements to avoid penalties for companies and their directors.
Companies Act
SEBI moves Supreme Court against relief granted to managers of Sahara Group entity in OFCD case
Livemint – Companies · 2026-06-14
SEBI has filed an appeal in the Supreme Court against a tribunal’s decision that granted relief to the managers of Sahara Group’s entity involved in the issuance of Optionally Fully Convertible Debentures (OFCD). The tribunal noted that the Sahara India Commercial Corporation Limited (SICCL) raised approximately ₹14,106 crore from nearly 1.98 crore investors through these debentures. Why it matters: This case could have implications for regulatory oversight and compliance in the issuance of securities under the Companies Act.
Tax
CBDT Webinar Decodes New Income-tax Act, 2025 with Global Focus on International Tax & Transfer Pricing – Taxscan
CBDT / Income Tax (Google News) · 2026-06-13
The CBDT recently conducted a webinar focusing on the new Income-tax Act, 2025, emphasizing international tax and transfer pricing aspects. This initiative aims to provide clarity on the upcoming changes and their implications for taxpayers and professionals dealing with cross-border transactions.
Tax
CBIC Issues Customs Instruction as MeitY Expanded Compulsory Registration Coverage to Standalone Hard Disk Drives
TaxGuru – Notifications/Circulars · 2026-06-13
The CBIC has issued instructions to field officers to enforce the Ministry of Electronics and Information Technology’s (MeitY) updated registration requirements for standalone hard disk drives (HDDs). This new framework will be applicable to specified HDDs starting from November 5, 2026. Why it matters: This change necessitates compliance from manufacturers and importers of HDDs, impacting their regulatory obligations and operational planning.
Tax
CBIC Issues Highly Specialized Equipmen Exemption Implementation Guidelines
TaxGuru – Notifications/Circulars · 2026-06-13
The CBIC has issued guidelines exempting highly specialized equipment from compulsory registration if annual imports or production do not exceed 100 units per model. This applies to equipment utilizing three-phase power, higher current ratings, larger dimensions, or heavier configurations. Why it matters: This exemption can reduce compliance burdens for manufacturers and importers of specialized equipment, facilitating easier market entry and operational efficiency.
GST
CBIC Revises Tariff Values for Gold, Silver, Edible Oils, Brass Scrap and Areca Nuts [Read Notification] – Taxscan
CBIC / GST (Google News) · 2026-06-13
The CBIC has revised the tariff values for various commodities including gold, silver, edible oils, brass scrap, and areca nuts. These changes are aimed at updating the valuation for the purpose of levying customs duties. The new tariff values will impact the calculation of duties for importers and exporters of these goods.
GST
55th GST Council meeting underway, chaired by FM Sitharaman – News On AIR
CBIC / GST (Google News) · 2026-06-14
The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, is currently in progress. The outcomes of this meeting may include important decisions regarding GST rates, compliance measures, and other regulatory changes affecting businesses and taxpayers.
IBBI
IBBI Issues Fourth Amendment to Insolvency Rules, Enhancing Creditor Role and Cost Oversight [Read Notification] – Taxscan
IBBI (Google News) · 2026-06-13
The Insolvency and Bankruptcy Board of India (IBBI) has issued the Fourth Amendment to the Insolvency Rules, which enhances the role of creditors in the insolvency process and improves oversight on costs incurred during the proceedings. This amendment aims to ensure greater transparency and accountability in the insolvency framework.