With the coming into force of the new labour codes on 21 November 2025, the revised definition of ‘wages’ has assumed critical importance for the computation of statutory dues. The definition adopts a bifurcated structure, clearly distinguishing between inclusions and exclusions, and the notional wage amount on the basis of which social security contributions and other statutory benefits are required to be paid.

The QCO represents a significant regulatory intervention aimed at aligning domestic manufacturing with global quality benchmarks while protecting consumers and strengthening industrial competitiveness.

The article examines the statutory framework governing adjusted total turnover, the characterization of SEZ-DTA supplies under GST and SEZ law, and the tension between legal theory and practical implementation.

Force Majeure has gained its spot back on the front-page news once again within the same decade due to the ongoing war in West Asia. Last invoked at this scale during the pandemic, Force Majeure is no longer a boiler plate clause, many times overlooked at the time of signing of any contract.

In this article, the authors have discussed the concept of updated returns, the changes proposed by Union Budget 2026, its impact and the hits and misses of the amendment.