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General Updates
Timeline extended for tax exemption to sovereign wealth funds ("SWFs")
The Central Board of Direct Taxes has extended the deadline up to 31 March 2030 of tax exemption for foreign wealth funds and pension funds. As per relevant provisions of Income Tax Act, 1961, the SWFs and pension funds are exempted (subject to fulfilment of certain conditions) from paying tax on dividends, interest and long-term capital gains arising from their investments in infrastructure businesses. This step will boost capital investment in infrastructure domain.
Maximum Retail Price ("MRP") revision allowed on unsold Fast-Moving Consumer Goods ("FMCG") stock amid Goods Service and Tax ("GST") reduction
Post the changes in GST slabs, the Indian government allowed pre-packaged goods importers, manufacturers and packers to change the MRP on unsold inventory till 31 December 2025, or until old stocks runs out. The revision in price adjustments shall be made through online printing, stickers, or stamping while keeping the original MRP display and does not permit overwriting.
To ensure transparency and consumer protection, the price change must precisely reflect the difference in the GST tax rate. Importers, manufacturers and packers are also required to issue circulars to wholesale dealers or retailers about revised prices with a copy to Le-gal Metrology Department. It supports the wider GST reform, which aims to increase consumption, ease compliance and promote economic growth by simplifying tax slabs.
A new initiative named "BHARATI" to Support Agri-Food Startups and Boost Exports launched
Agriculture and Processed Food Products Export Development Authority (APEDA) has launched a new initiative under the name "BHARATI" to empower 100 agrifood and agritech startups, accelerate their journey, promote innovation, create opportunities for young enterprises and strengthen India's agriculture and process food exports. The BHARATI initiative targets multiple sectors including GI-tagged (Geographical Indication tag) agricultural products, organic foods, superfoods, processed Indian agri-foods, livestock products and AYUSH products.
The BHARATI initiative by APEDA aligns with objectives of Atmanirbhar Bharat, Vocal for Local, Digital India and Startup India.
E-filing of appeals mandatory in Goods and Services Tax Appellate Tribunal ("GSTAT")
The GSTAT has made e-filing of appeals mandatory on its portal. Multiple timelines have been set for previous or new filings depending upon the order, notice or case dates for smooth and hassle-free filing of appeals. The final deadline for filing is 30 June 2026.
Revisions in Security Authentication for Payments
The Reserve Bank of India has mandated a two-factor authentication for digital payment transactions from 1 April 2026. At least one of the factors should be dynamically created or proven and factor of authentication shall be such that compromise of one factor does not affect reliability of the other.
Voluntary hallmarking for silver jewellery introduced
The Bureau of Indian Standards ("BIS") has revised the hallmarking standard from IS 2112:2014 to IS 2112:2025. Further, a digital Hall-marking Unique Identification ("HUID") system on voluntary basis has been introduced with effect from 1 September 2025. Going for-ward, consumers can verify the article type, purity grade, hallmark-ing date, testing centre details and jeweller registration number of hallmarked silver through BIS Care mobile application.
Signboards in Bengali mandatory
The Kolkata Municipal Corporation has directed all shops and establishments to display all signboards, hoardings and signage in Bengali as well, in a prominent size to promote local linguistic.
Corporate Law Updates
Holding of Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") through Video Conference ("VC") and Other Audio Visual Means (OAVM) and passing of Ordinary and Special resolution by the Company
The Ministry of Corporate Affairs ("MCA") issued a circular allowing all companies to hold AGM and EGM through VC and OAVM facilities till further orders.
Amendment in the Form No. RD-1 for filing application to Central Government (Regional Director)
The MCA issued a notification amending the Companies (Incorporation) Rules, 2014, on effecting the Companies (Incorporation) Second Amendment Rules, 2025 from 15 September 2025 to substitute Form No. RD-1.
Amendment in Companies (Compromises, Arrangements and Amalgamations) Rules, 2016
The MCA issued a notification making rules to amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. It introduces Form No. CAA.9, the notice to invite objections
or suggestions from the Registrar and official liquidator or persons affected by the scheme. Also, it broadens the scope by including un-listed companies that have debt below INR 200 Crore (US$ 22,531,000 approximately) and have no repayment defaults. This fact should be certified by an auditor in Form CAA-10A
Extension of time for filing of e-form DIR-3-KYC and DIR 3-KYC (Web) without fee
The MCA vide its circular has extended the date of filing of e-form DIR-3-KYC and DIR 3-KYC (Web) without fee up to 15 October 2025. These forms relate to an annual mandatory filing requirement for all individuals holding a Director Identification Number (DIN) to verify their KYC information.
Labour Law Updates
Labour laws amended in Maharashtra
The Government of Maharashtra has revised its labour laws which will be applicable on establishments with 20 or more workers. Key highlights of the amendment include increase in working hours from 9 (nine) to 10 (ten) for shops and establishments & 12 (twelve) for factories per day; overtime work per quarter has been increased from 115 to 144 hours for factories and 125 to 144 hours for shops and establishments; per week working hours to 60 (sixty) hours.
Draft Karnataka Shops and Commercial Establishments (Amendment) Rules, 2025 ("Draft Rule 2025") notified
The Government of Karnatak has released the Draft Rules 2025 for public comments and suggestions. The Draft Rules amend the provision of the Karnataka Shops and Commercial Establishments Rules, 1963 which relates to the maintenance of registers and records and display of notices. As per proposed amendment, these compliances are not required for employer employing less than 10 (ten) employees in their establishments.
Factories (Gujarat Amendment) Bill, 2025 ("Bill") issued
The Government of Gujarat has notified the Bill which replaces the previous Factories (Gujarat Amendment) Ordinance, 2025. Key highlights of the Bill include increasing daily number of working hours to 12 (twelve); allowing women working at night between 7 pm and 6 am; increasing overtime hours from 75 to 125 in a quarter; written consent for overtime hours from worker; criteria for entitlement of twice the ordinary rate of wages depending on number of working days and hours; applicability of POSH Act; appropriate working conditions; mechanism for addressing sexual harassment complaints; proper light and CCTV camera; rest rooms; transportation facilities; declaration from women worker amongst others.
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