Newsletter from CA Cult – For Latest Updates (January 2025)
Check out the “Weekly Newsletter from CA Cult – For Latest Updates (First Week of January 2025)”
- Extension of due date for determining amount payable as per column (3) of Table specified in section 90 of Direct Tax Vivad Se Vishwas Scheme, 2024 – Circular No. 20/2024.
- Extension of due date for furnishing belated/revised return of income for the Assessment Year 2024-25 in certain cases- Circular No. 21/2024.
- No Deduction of Tax under section 194Q.
- Advisory for the Waiver Scheme under Section 128A.
- Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Arunachal Pradesh.
- Clarification in respect of input tax credit (ITC) availed by electronic commerce (e-commerce) operators where services specified under Section 9(5) of Central Goods and Services Tax Act, 2017 are supplied through their platform -reg.
- Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients-reg.
- Clarification on availability of input tax credit (ITC) as per clause (b) of sub-section (2) of section 16 of the Central Goods and Services Tax Act, 2017 in respect of goods which have been delivered by the supplier at his place of business under Ex-Works Contract-reg.
- Clarification on various issues pertaining to GST treatment of vouchers – reg.
- Customs Brokers Licensing Examination, 2025 is scheduled to be held on 18.03.2025.
- Seeks to amend Notification 64/2023-Customs to extend concessional duty on Yellow Peas till 28th February 2025 – Notification No. 49/2024-Customs.
- Enabling Voluntary Payment electronically on ICEGATE e–Payment Platform- reg..
- Panel of IPEs as IPs and IPs prepared in accordance with ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2024’, for appointment as IRP, liquidator, RP and BT, for the period from January 1, 2025, to June 30, 2025.
- Due date of filing Form CSR-2 for the financial year 2023-2024 – These rules may be called the Companies (Accounts) Second Amendment Rules, 2024.
- Imposition of Minimum Import Price (MIP) on import of Soda Ash covered under Chapter 28 of ITC (HS) 2022, Schedule —I (Import Policy) —Notification No. 46 /2024-25.
- Imposition of Minimum Export Price (MEP) on Export of Honey – Notification No. 45/2024-25.
- Standard Operating Procedure (SOP) for Export Authorisations for Restricted Seeds and Planting Materials- Trade Notice No. 26/2024-25.
- Procedure for filing application for obtaining Import Authorisation for import of Low Ash Metallurgical Coke subject to Country-wise Quantitative Restrictions (QR)— Regarding.
- Amendment in Foreign Trade Policy (FTP) 2023 to include Para 1.07A and 1.07B for consultation with stakeholders to seek views, suggestions, comments or feedback from relevant stakeholders, including importers/exporters/industry experts concerning the formulation or amendment of the Foreign Trade Policy – Notification No. 47 /2024-2025.
- Amendment by incorporation of Para 1.04 (k) in Chapter 1 of the Handbook of Procedures 2023 to specify the procedure for furnishing views, suggestions, comments, or feedback from relevant stakeholders including importers/exporters/industry experts concerning the formulation, amendment or incorporation of specific provision(s) in the Foreign Trade Policy – Public Notice No. 37/ 2024-25.
- Amendment in Para 6.06 of HBP, 2023 – Public Notice No. 38 /2024-25.
- Export of Wheat to Nepal through National Cooperative Exports Limited (NCEL) – Notification No. 48/2024-25.
- Amendment in Import Policy and Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022 – Notification no. 49/2024-25.
- Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems.
- March 30, 2025 (Sunday) be marked as a working day for the Government transactions.
- Master Circular for Stock Exchanges and Clearing Corporations.
- Extension of last date of CPE hours’ compliance for the Calendar year 2024 – From 31st December, 2024 to 28th February, 2025.
- Press release on 26th council and 25th regional councils elections.
- ICAI Digital Learning Campus Portal: Self-Paced Online Modules (SPOM) – SET C and SET D.
- Notification for Online Assessment Test (AT) for Certificate Course on Forensic Accounting and Fraud Detection (FAFD) on Saturday, January 18, 2025.
- ICAI Submits suggestions on Comprehensive Review of the Income-tax Act, 1961 and Pre Budget Memorandum 2025.
- Extension of the validity of FCRA registration certificates.
- Clarification regarding refund of TDS pertaining to Foreign Contribution (FC).
Videos of the Week:
- Calculation of Income Tax FY 2024-25 | Old vs New Regime | For Salaried Employees: https://www.youtube.com/watch?v=WVQa59QNncM
- Big Update on Remuneration of the Statutory Auditors | Banking Regulation Law 2024: https://www.youtube.com/shorts/bLpn8MKUtrQ
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