The Reserve Bank of India vide circular dated September 28, 2021 has allowed use of any Alternative reference rate in place of LIBOR for interest payable in respect of export / import transactions. In view of the impending cessation of LIBOR as a benchmark rate, it has been decided to permit AD banks to use any other widely accepted/Alternative reference rate in the currency concerned for such transactions.
The Karnataka Government updates minimum wages and VDA for shops and commercial establishments, effective from April 1, 2025, to March 31, 2026.
The Himachal Pradesh VAT Amendment Act, 2024 updates payment, appeal, and enforcement processes to improve VAT administration and enhance compliance
Assam issues VDA for workers handling urea bags, effective July 1, 2024, reflecting CPI increase, with adjustments in wages for mechanized filling loading tasks
February 2025 sees a drop in overall inflation to 3.61%, driven by a significant reduction in food inflation, offering relief to rural and urban consumers.
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