Daily Updates

Customs  The CBIC has issued a notification under Section 65 of the Customs Act, 1962, specifying that manufacturing processes and other operations related to goods imported for solar power generation projects supplying electricity shall not be permitted in a warehouse. Further, it is clarified that this restriction applies only when electricity is generated as a …

Customs: The CBIC has issued a notification under Section 65 of the Customs Act, 1962, specifying that manufacturing processes and other operations related to goods imported for solar power generation projects supplying electricity shall not be permitted in a warehouse. (17.12.2024) Read More »

Company and SEBI Laws Earlier, SEBI vide Circular dated 21.03.2024 introduced the beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets, for a limited set of 25 scrips. Now, to increase the efficiency of optional T+0 settlement cycle, SEBI has decided to …

Company and SEBI Laws: Earlier, SEBI vide Circular dated 21.03.2024 introduced the beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets(11.12.2024) Read More »

Company and SEBI Laws SEBI has revised guidelines for capacity planning and real-time performance monitoring framework of Market Infrastructure Institutions (MIIs). Under the revised guidelines, MIIs have been directed to develop future-ready frameworks to estimate capacity needs based on trends, historical data, transaction growth, and business changes. Further, all MIIs must ensure adequate system capacity …

Company and SEBI Laws: SEBI has revised guidelines for capacity planning and real-time performance monitoring framework of Market Infrastructure Institutions (MIIs).(11.12.2024) Read More »

Income Tax For the purposes of sec. 280A of Income Tax Act and Sec. 84 of Black Money Act, the Central Government, in consultation with the Chief Justice of the High Court of Madras, designates various courts in the State of Tamil Nadu, as Special Courts in the area of Chennai, Madurai, Coimbatore and Puducherry. …

Income Tax: For the purposes of sec. 280A of Income Tax Act and Sec. 84 of Black Money Act, the Central Government, in consultation with the Chief Justice of the High Court of Madras, designates various courts in the State of Tamil Nadu, as Special Courts in the area of Chennai, Madurai, Coimbatore and Puducherry.(11.12.2024) Read More »

Indian Acts and SEBI Law SEBI has noticed that certain electronic platforms or websites are facilitating transactions in unlisted securities of public limited companies. SEBI cautious investors not to conduct any transactions on such electronic platforms or share any sensitive personal details as these platforms are neither authorized nor recognized by SEBI. SEBI further informed …

Indian Acts and SEBI Law: SEBI has noticed that certain electronic platforms or websites are facilitating transactions in unlisted securities of public limited companies.(10.12.2024) Read More »

Indian Acts and SEBI Law In line with section 9 of the MSME Development Act, 2006, the Central Government has mandated that all companies registered under the Companies Act, 2013, with a turnover of more than Rs. 250 crores and all Central Public Sector Enterprises (CPSEs) be onboarded on the Trade Receivables Discounting System (TReDS) …

Indian Acts and SEBI Law: In line with section 9 of the MSME Development Act, 2006, the Central Government has mandated that all companies registered under the Companies Act, 2013(10.12.2024) Read More »

GST Biometric-Based Aadhaar Authentication and Document Verification implemented in Haryana, Manipur, Meghalaya and Tripura dated 08.12.24 The GSTN has issued advisory to inform that biometric-based aadhaar authentication and document verification for GST registration applicants of Haryana, Manipur, Meghalaya and Tripura has been rolled out on 7th December 2024. The feature of booking an appointment to …

GST: Biometric-Based Aadhaar Authentication and Document Verification implemented in Haryana, Manipur, Meghalaya and Tripura dated 08.12.24(10.12.2024) Read More »

GST GSTN issued new advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24 dated 09.12.24 The GSTN has noted that several concerns have been raised regarding possible mismatch between the values of table 8A and 8C of Form GSTR-9 for FY 23-24. Now, the GSTN has issued an advisory …

GST: GSTN issued new advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24 dated 09.12.24(10.12.2024) Read More »

FEMA and Banking On the basis of an assessment of the current and evolving macroeconomic situation, the RBI’s Monetary Policy Committee (MPC), in its meeting, has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 %. Further, the standing deposit facility (SDF) rate also remains unchanged at 6.25 …

FEMA and Banking: On the basis of an assessment of the current and evolving macroeconomic situation, the RBI’s Monetary Policy Committee (MPC), in its meeting, has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 %. Further, the standing deposit facility (SDF) rate also remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.(07.12.2024) Read More »

FEMA and Banking RBI has raised the interest rate ceilings on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] deposits for banks, effective from December 06, 2024, until March 31, 2025. For deposits with a maturity of 1 year to less than 3 years, the ceiling is the Overnight Alternative Reference Rate (ARR) of the respective currency …

FEMA and Banking: RBI has raised the interest rate ceilings on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] deposits for banks, effective from December 06, 2024, until March 31, 2025.(07.12.2024) Read More »

FEMA and Banking The RBI has announced a reduction in the Cash Reserve Ratio (CRR) for all banks by 50 basis points in two equal tranches of 25 basis points each. The CRR will be maintained at 4.25% of Net Demand and Time Liabilities (NDTL) from the reporting fortnight beginning December 14, 2024, and at …

FEMA and Banking: The RBI has announced a reduction in the Cash Reserve Ratio (CRR) for all banks by 50 basis points in two equal tranches of 25 basis points each.(07.12.2024) Read More »

FEMA and Banking RBI has decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of Rs. 1.6 lakh to Rs. 2 lakh per borrower. This decision is taken by considering the overall inflation and rise in agriculture input cost over the years. Further, banks are …

FEMA and Banking: RBI has decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of Rs. 1.6 lakh to Rs. 2 lakh per borrower.(07.12.2024) Read More »

Company and SEBI Law SEBI has notified the SEBI (Prohibition of Insider Trading) (Third Amendment) Regulations, 2024. The amended norms modifies the definition of the connected person. Now, a firm or its partner or its employee in which a connected person is also a partner shall deemed to be connected persons. Further, a person sharing …

Company and SEBI Law: SEBI has notified the SEBI (Prohibition of Insider Trading) (Third Amendment) Regulations, 2024.(07.12.2024) Read More »

Company and SEBI Law SEBI has amended the Securities and Exchange Board of India (Intermediaries) Regulations, 2008. Board has introduced summary proceedings for specific non-compliant intermediaries. These proceedings cover stock brokers, clearing members, depository participants, and others failing to meet obligations or violating securities laws. The amendment mandates the issuance of notices, submission of responses …

Company and SEBI Law: SEBI has amended the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.(07.12.2024) Read More »

Company and SEBI Law SEBI has updated its ‘Investor Charter’ to enhance investor protection, market transparency, and trust and confidence among investors. Key updates includes ensuring confidentiality of investor information and providing the right to exit at fair and reasonable terms from the securities market related products or services. SEBI has strengthened the grievance redressal …

Company and SEBI Law: SEBI has updated its ‘Investor Charter’ to enhance investor protection, market transparency, and trust and confidence among investors.(07.12.2024) Read More »

  FEMA and Banking The Ministry of Finance has permitted the reporting entity, namely ‘Aditya Birla Sun Life Mutual Fund’ , to perform authentication under the Aadhaar Act, 2016. The permission is granted only for the purpose of Aadhar authentication as required u/s 11A of the Money Laundering Act, 2002. Section 11A requires the verification …

FEMA and Banking: The Ministry of Finance has permitted the reporting entity, namely ‘Aditya Birla Sun Life Mutual Fund’ , to perform authentication under the Aadhaar Act, 2016.(05.12.2024) Read More »

FEMA and Banking RBI has revised the framework for small value digital payments in offline mode under UPI Lite. Earlier, the framework prescribed an upper limit of Rs. 500 for offline digital payment transaction, and a total limit of Rs. 2,000 for a payment instrument at any point in time. Now, the offline framework has …

FEMA and Banking: RBI has revised the framework for small value digital payments in offline mode under UPI Lite.(05.12.2024) Read More »

Insolvency and Bankruptcy Code To address administrative delays in appointing Insolvency Professionals (IPs), IBBI has introduced new guidelines providing the procedure for preparing panel of IPs to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees. The IP panel will be effective from 01.01.2025 to 30.06.2025. Further, Board will prepare a …

Insolvency and Bankruptcy Code: To address administrative delays in appointing Insolvency Professionals (IPs), IBBI has introduced new guidelines providing the procedure for preparing panel of IPs to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees.(05.12.2024) Read More »

Goods and Service Tax The CBIC has empowered more number of Additional Commissioners of Central Tax/ Joint Commissioners of Central Tax of specified Central Tax Commissionerates, with All India Jurisdiction for the purpose of adjudication of the show cause notices issued by the officers of DGGI. In this regard, amendment has been made in Circular …

Goods and Service Tax: The CBIC has empowered more number of Additional Commissioners of Central Tax/ Joint Commissioners of Central Tax of specified Central Tax Commissionerates, with All India Jurisdiction for the purpose of adjudication of the show cause notices issued by the officers of DGGI.(05.12.2024) Read More »

  Company and SEBI law SEBI has notified the SEBI (Depositories and Participants) (Third Amendment) Regulations, 2024. A new regulation 60A w.r.t nomination has been inserted. It states that every participant must provide an option to the beneficial owner to nominate a person to whom the securities held by him must vest in the event …

Company and SEBI law: SEBI has notified the SEBI (Depositories and Participants) (Third Amendment) Regulations, 2024.(05.12.2024) Read More »