Newsletter from CA Cult – For Latest Updates (March 2025)

Check out the “Weekly Newsletter from CA Cult – For Latest Updates (First Week of March 2025)

Income-tax

1. List of banks for tax payments available at e-Pay Tax service at e-Filing Portal.
2. Summary of the TDS and TCS provisions applicable from April 1, 2025.

CBIC

1. Declaration by GST registered supplier of hotel accommodation service.
2. Understanding the concept of electronic invoice (e-invoicing) in GST and changes to be effective from 01st April 2025.
3. Advisory: Enhancements in Biometric Functionality – Allowing Directors to Opt for Biometric Authentication in Their Home State.

MCA

1. Companies (Prospectus and Allotment of Securities) Amendment Rules, 2025.

DGFT

1. Fixation of one new Standard Input Output Norms (SIONs) at SION A-3684 under ‘Chemical and Allied Product’ (Product Code ‘A).
2. Amendment in Import Policy and Policy Condition of Platinum covered under HS Code 7110 of Chapter 71 of ITC (HS) 2022, Schedule —I (Import Policy) – Notification No. 60/2024-25.
3. Amendment in Export Policy of Broken Rice under HS code 1006 40 00 – Notification No. 61 /2024-25.

RBI

1. RBI invites comments on the draft circular on ‘Responsible Lending Conduct – Levy of Foreclosure Charges/ Pre-payment Penalties on Loans’.
2. RBI permits the withdrawal for depositors of New India Co-operative Bank Limited, Mumbai to ₹25,000.
3. Review and rationalization of prudential norms – UCBs.

SEBI

1. Revised Nomination Facilities in Indian Securities Market – Amendments and clarifications to Circular dated January 10, 2025.
2. Relaxation in timeline for reporting of differential rights issued by AIFs.

ICAI

1. Guidelines for Making the Exhausted Exemptions Permanent CA FINAL MAY 2025.
2. Guidelines for Continuing the Exhausted Exemptions – Making Exemption/s Permanent.
3. CA Final May 2025: Examination Guidance.
4. CA Intermediate May 2025: Examination Guidance.
5. CA Foundation May 2025: Examination Guidance.
6. ICAI Press Release on CA Result declared on 04th March 2025.
7. Announcement on the Self-Paced Online Module Test (SPMT).

OTHER UPDATE

1. CPGRAMS-10 Step Reforms deepened with focus on quality of grievance redressal and improving citizen satisfaction

Blog of the week

1. Changes in GST and Income Tax during the Financial Year 2024-25.

Videos of the Week:

1. NPS Vatsalya: A New Tax Benefit for Parents and Guardians: https://www.youtube.com/watch?v=VQgWiRebH68
2. Union Budget 2025: New Tax Slabs Explained: https://www.youtube.com/watch?v=0jTByKZUclE

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