CBIC has launched a new Warehouse Module on the Indian Customs Electronic Gateway
This module introduces a streamlined, digital framework for various warehouse-related activities, aiming to reduce paperwork, enhance transparency, and promote efficiency. Key features include online filing for warehouse licenses, submission of transfer requests, and uploading of monthly returns. This article provides an overview of the newly introduced processes.
Timeline for examination of input tax credit against reduction of price
CBIC has appointed the 1st day of April, 2025 as the last date to submit request for examination as to whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by that registered person.
CBDT has issued an extension of time lines for filing of various reports of audit for the Assessment Year 2024-25
CBDT has issued an extension of time lines for filing of various reports of audit for the Assessment Year 2024-25 by a company; or a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force.
Companies (Indian Accounting Standards) Third Amendment Rules, 2024
The amendment provides that an insurer or insurance company may provide its financial statement as per Ind AS 104 for the purposes of consolidated financial statements by its parent or investor or venturer till the Insurance Regulatory and Development Authority notifies the Ind AS 117 and for this purpose.
PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme
Vehicles which are registered as “Motor Vehicle” as per the Central Motor Vehicle Rules (CMVR) will only be eligible for incentives. Vehicles fitted with only advanced batteries and satisfying performance criteria will only be eligible under the Scheme.
Securities and Exchange Board of India (Real Estate Investment Trusts) (Third Amendment) Regulations, 2024
All unit holder meetings of REITs shall be provided by the manager an option to attend the meeting through video conferencing or other audio visual means and the option of remote electronic voting in the manner as may be specified by the Board.
SEBI Consultation paper on the proposal to exempt certain transactions from trading window restrictions
The objective of this consultation paper is to seek comments from the members of public on the proposal for exempting certain transactions including subscription to non-convertible securities from trading window restriction norms for enhancing the ease of doing business.
SEBI has provided the parameters for Performance evaluation of Market Infrastructure Institutions
MII shall ensure that there is no conflict of interest in the appointment of the Independent External Agency and the Agency had not been employed/hired by the MII for the evaluation period and till submission of the report.
SEBI Consultation paper on “Simplified registration for Foreign Portfolio Investors (FPIs)”
In order to save significant time and efforts for FPI applicants, in terms of reviewing the application and signing the CAF, it is proposed to seek only such information that is unique to the applicants. This accounts for around 55% of the number of fields in CAF that is presently required to be filled by such FPI applicants.
Master Circular on Surveillance of Securities Market
This Master Circular is categorized subject wise under various headings, viz., trading rules and shareholding in dematerialized mode, monitoring of unauthenticated news circulated by SEBI registered market intermediaries through various modes of communication and disclosure reporting under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
