Daily Newsletter - January 29, 2025

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Legal Updates:

Income Tax

GST

IBBI

RBI

SEBI

DGFT

Customs

 

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News Update:

Indian News:

No GST on penal charges levied by banks, NBFCs: CBIC

India considering lowering tariffs on some high-end products from US

PAN card now valid for identity verification by information utilities

I-T dept raids IIFL Finance, related entities over alleged tax evasion

HC pulls up I-T dept for software: Taxpayers can now claim 87A tax rebate

Himachal govt forms carbon credit panel to explore additional revenue stream

India, Oman agree to amend tax treaty to promote greater cooperation

Trump calls India, China high tariff nations, vows to establish fair system

Cred joins RBI's digital currency project; first fintech to give access to CBDC

Sebi Bans 8 Entities From Securities Market

Reserve Bank of India tightens vigil on P2P lending after revising rules

Finance ministry pushes PSBs to boost affordable insurance coverage

DGFT upgrades platform for issuing electronic certificate of origin

RBI Governor Sanjay Malhotra flags rising issue of digital frauds

RBI announces measures to manage liquidity conditions

Govt to tighten fiscal purse despite slowing economic growth: Reuters poll

RBI supersedes board of Aviom India Housing Finance on governance concerns

 

International News:

[International] Auditors get tougher guidelines on judging firms' environmental claims

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Exposure Drafts:

SEBI Draft:

Investor Charter for Stock Brokers
[Last date for Comments: February 17, 2025] 

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Legal Updates:

Income Tax:

Clarification regarding orders u/s 201 of the Income-Tax Act, 1961 under e-Appeals Scheme, 2023

Notification of Unified Pension Scheme

The Income-tax (Second Amendment) Rules, 2025 - Regarding Venture Capital Funds in IFSC [Notification No.10]

 

GST:

Clarifications regarding applicability of GST on certain services [CGST Circular No.245]

Regularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding /re-insurance commission deducted from the reinsurance premium paid by the insurer to the reinsurer [CGST Circular No.244]

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Tamil Nadu and Himachal Pradesh

 

IBBI:

Amendment to the Guidelines for Technical Standards for the Performance of Core Services and Other Services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017

 

RBI:

Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines

 

SEBI:

Format of Due Diligence Certificate to be given by the Debenture Trustees

Development of Web-based portal: iSPOT(Integrated SEBI Portal for Technical glitches) for reporting of technical glitches

 

DGFT:

Amendment in Import Policy covered under CTH 890690 of Chapter 89 of ITC (HS) 2022, Schedule –I (Import Policy) [Notification No.55]

Introduction of online module for filing Annual RoDTEP Return (ARR) [Trade Notice No.27]

Amendments to Para 2.91 & 2.93 of HBP, inline with the Implementation of the eCertificate of Origin System [Public Notice No.43]

 

Customs:

Mandatory additional qualifiers in import/export declarations in respect of Synthetic or Reconstructed Diamonds [Circular No.3]

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