Weekly Newsletter - January 29, 2025
Latest additions to CAalley:
News Update:
Exposure Drafts:
Acts & Regulations:
Legal Updates:
News Update:
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
Centre initiates anti-dumping probe into PVC resin imports from EU, Japan
India's finished steel imports from China hit 7-year high in April-Dec
Govt invites applications for Sebi chief post as Buch's term ends on Feb 28
Govt proposes hike in tax rebate on new vehicles for buyers scrapping old ones
Sebi launches digital knowledge repository Dharohar on Republic Day
Reserve Bank of India ombudsman resolves 95% of complaints in FY24
Rate cut alone not sufficient, economists tell RBI
Centre alerts citizens against fraudsters issuing fake summons for GST violations
Budget 2025: ICAI Proposes Joint Tax Filing, How Married Couples Will Benefit From It
Centre notifies Unified Pension Scheme for govt employees under NPS
CBIC notifies rules for entities to get temporary GST identification number
EPS for gig workers: Govt plans to launch social security scheme for gig workers
SC refuses to entertain PIL seeking scrapping of TDS system under IT law
GST late fee waiver: Last opportunity to avoid GST notice due to non-filing of GSTR-9C
Govt preps Rs 82,000 cr relief for non-telcos: Decoding the AGR dispute
RBI asks banks to uses tool that identifies phone numbers to curb fraud
RBI directs banks to assess impact of new LCR norms on liquidity, lending
Relief for WhatsApp as Indian tribunal suspends CCI's 5-yr data-sharing ban
Sebi proposes small ticket SIP with minimum investment of Rs 250 per month
RBI MPC member bats for two inflation rates for better policy making
CBDT notifies amendments in I-T rules for non-resident cruise ships
Mumbai: Andheri woman held in 325cr GST fraud case
[International] Auditors get tougher guidelines on judging firms' environmental claims
CFO strategies to drive growth while wrestling old demons
Bank of Japan hikes policy rates by 25 basis points to highest in 17 years
FASB proposes series of changes to accounting standards
Exposure Drafts:
Exposure Draft of Guidance Note on Audit of Banks (2025 Edition)
[Last date for Comments: February 5, 2025]
Investor Charter for Stock Brokers
[Last date for Comments: February 17, 2025]
Consultation paper on promoting financial inclusion through Sachetisation of Investment in Mutual Fund schemes
[Last date for Comments: February 6, 2025]
E-Commerce - Principles and Guidelines for Self-Governance
[Last date for Comments: February 20, 2025]
Transaction Assurance in E-commerce — Vocabulary
[Last date for Comments: February 20, 2025]
Acts & Regulations:
The following Master Directions have been updated:
Master Direction – Foreign Investment in India (Updated as on January 20, 2025)
Master Direction - Deposits and Accounts (Updated as on January 16, 2025)
Master Direction – Export of Goods and Services (Updated as on January 16, 2025)
Master Directions on Prepaid Payment Instruments (PPIs) (Updated as on December 27, 2024)
Legal Updates:
Clarification regarding orders u/s 201 of the Income-Tax Act, 1961 under e-Appeals Scheme, 2023
Notification of Unified Pension Scheme
Clarifications regarding applicability of GST on certain services [CGST Circular No.245]
Advisory: Hard - Locking of auto-populated liability in GSTR-3B
Advisory on the Introduction of E-Way Bill (EWB) for Gold in Kerala State
Waiver of late fee for GSTR-9 and GSTR-9C in specified cases [CGST Notification No.8]
Advisory on Business Continuity for e-Invoice and e-Waybill Systems
Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A
Format of Due Diligence Certificate to be given by the Debenture Trustees
Introduction of online module for filing Annual RoDTEP Return (ARR) [Trade Notice No.27]
