Daily Newsletter - January 17, 2025

Go to Newsletter Archives

Latest additions to CAalley:

News Update:

Indian News

International News

Useful Forms:

ITR eFiling Utilities for AY 2024-25

Legal Updates:

GST

RBI

FEMA

SEBI

 

---

  

News Update:

Indian News:

GST officers must provide written grounds of arrest under new guideline

Employees can now transfer their EPF account to a new employer on their own

'Unease' of doing business in India: Bureaucracy pushes factory costs up

Banks seek SC clarity on loans against uncertified ancestral properties

Big relief for GST taxpayers: Protection against arbitrary arrest and coercion by GST officers

CCI penalises investment manager of Goldman Sachs AIF for failing to notify Biocon deal

Income-Tax department recovers Rs 1,070 crore from wrongful claims

EPFO 3.0 rollout by June: Know how it will benefit members

GST fraud of Rs 100 crore busted

Hindenburg shutdown: Did the short seller begin to feel the heat?

RBI updates FEMA regulations to boost cross-border rupee transactions

'Hustle culture is seductive but...': How kid's drawing changed CA's life who used to work for 14 hours daily

NCLAT admits Meta, WhatsApp appeals against Rs 213 crore CCI penalty

Hindenburg Research to shut shop: 7 giants that the US short-seller disrupted in 7 years

Hindenburg, Adani, and Buch: The investigations that shook markets

Why did Hindenburg Research, short-seller behind Adani Group $150 bn rout, shut down?

Sebi resolves over 5,600 complaints through SCORES platform in December 2024

Govt to launch AI-backed data analytics platform for better trade insights

RBI to conduct daily variable rate repo auctions to infuse liquidity

Surpassing Japan, India to become 4th largest economy by 2026: PHDCCI

Now you can use UPI to make payments while shopping at these Dubai Duty Free stores

 

International News:

How accountants can create sustainable value

KPMG Is Elbowing Its Way Into Practicing Law in the US

---

Useful Forms:

ITR eFiling Utilities for AY 2024-25:

The following eFiling Utilities have been updated as on January 16, 2025

ITR 1
Excel Utility
Schema
Schema Change Document

ITR 2
Excel Utility
Schema
Schema Change Document

ITR 3
Excel Utility
Schema
Schema Change Document

ITR 4
Excel Utility
Schema
Schema Change Document

ITR 5
Schema

ITR 6
Schema

ITR 7
Schema

---

Legal Updates:

GST:

Seeks to prescribe Compensation cess rate of 0.1% on supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions [Notification No.01/2025-Compensation Cess(Rate)]

 

Seeks to amend Notification No 17/2017- Central Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.08/2025-Central Tax (Rate)]

Seeks to amend Notification No 13/2017-Central Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.07/2025-Central Tax (Rate)]

Seeks to amend Notification No 12/2017-Central Tax (Rate dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.06/2025-Central Tax (Rate)]

Seeks to amend Notification No 11/2017 - Central Tax (Rate) dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.05/2025-Central Tax (Rate)]

Seeks to amend Notification no. 08/2018- Central Tax (Rate) [Notification No.04/2025-Central Tax (Rate)]

Seeks to amend Notification no. 39/2017- Central Tax (Rate) [Notification No.03/2025-Central Tax (Rate)]

Seeks to amend Notification no. 02/2017- Central Tax (Rate) [Notification No.02/2025-Central Tax (Rate)]

Seeks to amend Notification no. 01/2017- Central Tax (Rate) [Notification No.01/2025-Central Tax (Rate)]

 

Seeks to amend Notification No 14/2017-Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.08/2025-Integrated Tax (Rate)]

Seeks to amend Notification No 10/2017-Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.07/2025-Integrated Tax (Rate)]

Seeks to amend Notification No 9/2017-Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.06/2025-Integrated Tax (Rate)]

Seeks to amend Notification No 8/2017- Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.05/2025-Integrated Tax (Rate)]

Seeks to amend Notification no. 09/2018- Integrated Tax (Rate) [Notification No.04/2025-Integrated Tax (Rate)]

Seeks to amend Notification no. 40/2017- Integrated Tax (Rate) [Notification No.03/2025-Integrated Tax (Rate)]

Seeks to amend Notification no. 02/2017- Integrated Tax (Rate) [Notification No.02/2025-Integrated Tax (Rate)]

Seeks to amend Notification no. 01/2017- Integrated Tax (Rate) [Notification No.01/2025-Integrated Tax (Rate)]

 

Seeks to amend Notification No 17/2017-Union Territory (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.08/2025-Union territory Tax (Rate)]

Seeks to amend Notification No 13/2017 - Union Territory (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.07/2025-Union territory Tax (Rate)]

Seeks to amend Notification 12/2017- Union Territory Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.06/2025-Union territory Tax (Rate)]

Seeks to amend Notification No 11/2017- Union Territory Tax (Rate) dated 28th June, 2017 to implement the recommendations of the 55th GST Council [Notification No.05/2025-Union territory Tax (Rate)]

Seeks to amend Notification no. 08/2018- Union Territory Tax (Rate) [Notification No.04/2025-Union territory Tax (Rate)]

Seeks to amend Notification no. 39/2017- Union Territory Tax (Rate) [Notification No.03/2025-Union territory Tax (Rate)]

Seeks to amend Notification no. 02/2017- Union Territory Tax (Rate) [Notification No.02/2025-Union territory Tax (Rate)]

Seeks to amend Notification no. 01/2017- Union Territory Tax (Rate) [Notification No.01/2025-Union territory Tax (Rate)]

 

RBI:

Prevention of financial frauds perpetrated using voice calls and SMS – Regulatory prescriptions and Institutional Safeguards

Coverage of customers under the nomination facility

 

FEMA:

Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Third Amendment) Regulations, 2025

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025

Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025

 

SEBI:

Timeline for Review of ESG Rating pursuant to occurrence of ‘Material Events’

Disclosure of Risk adjusted Return - Information Ratio (IR) for Mutual Fund Schemes

---