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

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

CBDT issues clarification on Circular 01/2025 (“The Central Board of Direct Taxes (CBDT) recently issued guidance on January 21, 2025, to clarify the application of the Principal Purpose Test under India’s Double Taxation Avoidance Agreements.”).
Central Government Notification: Tax Exemption under section 10 for the Delhi Construction Workers Welfare Board.
Zero Coupon Bond Specification under Section 2(48) of Income-tax Act, 1961.
Summary of the TDS and TCS provisions applicable from April 1, 2025.

Notification to amend Notification No 02/2017 (Central Tax) to revise the territorial jurisdiction of Central Tax Commissionerates.
Declaration by GST registered supplier of hotel accommodation service.
Understanding the concept of electronic invoice (e-invoicing) in GST and changes to be effective from 01st April 2025.

Amendment in Export Policy Condition under HSN of Schedule-II (Export Policy), ITC(HS) 2022 – Notification No. 62/2024-25.
Extension in Import Period for Yellow Peas under ITC (HS) Code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule –((Import Policy) – Notification No. 63 /2024-25.
Amendment to Para 10.12(D) of the Handbook of Procedures 2023 – Revised Procedure for General Authorization for Export after Repair (GAER).
Extension in “Free” Import Policy of Urad ((Beans of SPP Vigna Mungo (L.) Hepper]) [ITC (HS) Code 07133110] under ITC (HS) 2022, Schedule – 1 (Import Policy) – reg.
Inputs on Draft Amendments in Procedures for Export Authorization for “Stock and Sale” of SCOMET items -reg.

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

Securities and Exchange Board of India (SEBI) (ICDR) (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025.
Faster Rights Issue with a flexibility of allotment to specific investor(s).
Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2025.