Four landmark GST judicial decisions that every tax professional should read carefully this quarter. This briefing covers GSTAT’s inherent power to grant stays on recovery proceedings, ISD distribution timing under GST, the Karnataka High Court’s relief for genuine recipients under Section 16(2)©, and the limits of penalty imposition under Section 122(1A).

The GST portal has undergone several meaningful changes that directly affect monthly compliance routines. This quarter’s advisory briefing covers the new interest computation method on net liability in GSTR-3B, auto-population of tax break-up for prior-period supplies, ITC utilisation flexibility across CGST/SGST and IGST, and the deadline-driven opt-in process for hotels classified as ‘specified premises’ for FY 2026-27.

Three customs circulars with immediate operational relevance mark this quarter’s Foreign Trade Policy update. This briefing covers the mandating of body-worn cameras for customs examinations, the launch of a Payment Aggregator facility on ICEGATE enabling duty payment through 41 banks, and comprehensive reforms to e-commerce and courier export rules effective 1 April 2026.

FEMA 23(R)/2026 marks the most significant overhaul of India’s cross-border trade regulations in recent memory, for the first time bringing imports under the same framework as exports. This quarter’s briefing covers the unified EDF replacing SOFTEX, revised realization timelines, rewritten Guarantees Regulations, updated RBI positions on CCDs and GIFT City, mandatory ECB filing through AD banks, and new NBFC and Bank disclosure requirements.

A landmark quarter for Indian corporate law: the Corporate Laws (Amendment) Bill 2026 was tabled, raising thresholds for small companies, expanding buy-back provisions, and easing meeting requirements. This briefing also covers Pillar Two accounting under AS 22, the one-time MCA-21 condonation window closing July 2026, revised SEBI LODR thresholds, the IRDAI’s Ind AS framework for insurers, and NFRA’s latest audit and accounting guidance.

With the Income-tax Act, 2025 operative from 1 April 2026, payroll professionals need to act before the first TY 2026-27 closing. Rule 15 of the new Income Tax Rules 2026 significantly revises perquisite valuations — raising motor car thresholds, tripling the gift and voucher exemption, increasing the free meal allowance, and lifting the medical loan exemption cap. This newsflash outlines every change your payroll team needs to know now.

The RBI has introduced a formal deregistration pathway for smaller NBFCs that do not mobilise public funds, have no customer interface, and fall below INR 1,000 crore in assets. If your NBFC fits the profile, the window to apply through the PRAVAAH portal closes on 31 December 2026. This newsflash explains the qualifying criteria, group-level asset aggregation, ongoing disclosure obligations, and restrictions on overseas financial-sector investment for entities that deregister.

The May 2026 edition of CNK’s Sustainability Newsletter turns its lens on the digital self — how identity, emotion, and behaviour are transforming in online spaces, and what that means for CSR and ESG strategies in the social sector. This edition features insights on the Young People’s Paradox, CNK’s internal pulse survey of 18-35 year olds, a conversation on Responsible Netism, and an update on India’s Social Stock Exchange.

Sixty-five years. Nearly 4,000 amendments. Over five lakh words. The Income Tax Act, 1961 has finally been replaced. The Income Tax Act, 2025 is not just a cleaner version of the same law , it introduces new concepts, a restructured framework for charitable trusts, significant changes to MAT, TDS, and search powers, and a transition mechanism that runs two parallel regimes simultaneously. This is our complete breakdown.

CNK RK & Co. expands its presence into Chandigarh and the broader tricity region. We are excited to now serve our clients in Punjab, Haryana, and Himachal Pradesh more closely and with the depth they deserve.

157 deadlines. 6 practice areas. One place. We have mapped every material statutory due date for Indian businesses across Direct Tax, GST, Companies Act, EPF/ESI, and FEMA ; so your team never misses a filing.

The new financial year brings the same recurring compliance rhythm, but the cost of missing a deadline has only gone up, late fees, interest under Section 234 of the Income Tax Act, additional fees under the Companies Act, and the reputational risk for promoters in an environment of heightened regulatory scrutiny. This calendar is our firm's working tool, shared with you in full.

Global conflict moves people. Tax law does not move with them.

As expatriates across the Middle East extend their stays in India, many are unknowingly approaching ,or have already crossed, thresholds that determine their tax residency under Indian law. The consequences are not trivial. A full Resident is taxable on global income. Even an RNOR, while better protected, carries disclosure obligations that most non-residents are unprepared for.

The rules are not complicated, but they are unforgiving on timing. And unlike most financial decisions, this one cannot be corrected after 31 March.

We have broken down the framework ,and built a tool so you can assess your own position in under two minutes.

The Supreme Court decriminalized same-sex relationships and history apologized, but the Income Tax Act never got the memo. This piece unpacks how the absence of spousal recognition under Indian tax law creates real financial costs for queer couples across transfers, gifts, HRA claims, and separation settlements.

A slump sale can be a powerful tool for corporate restructuring, but the tax "fine print" is where the real complexity lies. Between Rule 11UAE valuations and Form 3CEA reporting, the margin for error is slim. Dive into our latest guide to understand how to optimize tax efficiencies while meeting your regulatory obligations under current Indian law.

India has long attracted global traders—from the days when explorers like Christopher Columbus sought a direct route to its riches. Centuries later, the opportunity remains just as compelling. With one of the world’s fastest-growing economies, expanding consumer markets, and competitive operating costs, India has become a strategic destination for businesses looking to manufacture, sell, or deliver services globally.

In this guide, we break down the key ways foreign companies can establish operations in India—from Liaison and Branch Offices to fully incorporated subsidiaries—along with the eligibility requirements, regulatory process, and compliance obligations you need to know.

From a shift in shareholders to strategic restructuring, there are many reasons to transition from a Private Limited company to an One Person Company (OPC). While the process is surprisingly straightforward, navigating the eligibility criteria and statutory filings is key to a seamless transition. Read on to discover if your company qualifies and the exact steps needed to secure your new certificate of incorporation without disrupting your business operations.

For Indian founders, "flipping" is usually about agility—but the Corporate Structural Flip is about survival and scale. Moving your headquarters to Delaware can unlock global VC funding, but it also triggers a complex web of RBI regulations, FEMA compliance, and tax traps like PoEM.

Is the promise of US capital worth the regulatory headache? In this post, we break down:

• The Mechanics: How IP and share transfers actually work.

• The RBI Hurdle: Navigating "round-tripping" and the 2019 FEMA modifications.

• The Tax Trap: Why your Delaware entity might still be taxable in India.

GAAR is more than just a set of rules; it’s a fundamental change in how tax liability is assessed in India. After years of deliberation and significant updates to the Direct Tax Code, the implementation of GAAR is evolving to balance regulatory oversight with investor protection.

We’ve put together a definitive guide to help you navigate this transition. From the 2012 proposals to the most recent legislative safeguards, discover the insights you need to stay ahead of the curve.

As cross-border trade reaches new heights, navigating the complexities of the Indian tax landscape has never been more critical for international growth. Whether you are a foreign entity providing services or an Indian business receiving them, understanding your withholding obligations is the difference between a seamless transaction and being labeled an "assessee in default." Dive into our latest guide to clarify your TDS requirements and protect your bottom line.

In an era where data is the new oil, India is redefining what it means to do business within its borders. The Significant Economic Presence (SEP) rules represent a major shift in digital taxation, targeting non-resident entities based on user interaction and transaction volume rather than physical storefronts. Explore the legal breakdown of these new rules and what they mean for the future of international tax treaties.