Daily Newsletter - June 25, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

SEBI Master Circular

CA's Referencer:

ICAI Reference Material

Legal Updates:

Income Tax

GST

IBBI

RBI

IFSCA

DGFT

Customs

News Update:

Indian News:

CBDT unlikely to offer tax relief for foreign data centres soon: Report

Sebi slaps Rs 25 lakh penalty on BSE for flouting regulatory norms

NFRA gets a shot in the arm with Telangana HC order

RBI extends call money market timings by 2 hours from August 1

Sebi tightens oversight on trading members' compliance post-inspection

FM Sitharaman: India not a tariff king, rates lower than approved

Sebi proposes to limit powers of stock exchange chiefs

Merry-Go-Round: How Handful Of Audit Firms Dominate India’s Corporate And Banking Audits

EPFO raises auto settlement limit for PF withdrawals by 5 times – Check new limit

India imposes anti-dumping duty on four Chinese chemicals

India Inc backs GST after 8 years, but seeks clarity, better dispute resolution: Deloitte survey

FM to IT Dept: expedite disposal of disputed tax demands, withdraw below new threshold appeals within 3 months

New ITR rules: Penalty up to 200% on claiming false deductions

SEBI panel drafting ODI playbook for FPIs

Deadline to opt for UPS extended from June 30, 2025, for government employees under NPS

International News:

Banks are financing their own multitrillion-dollar nightmare

€10,000 fine and ‘severe reprimand’ for auditor of collapsed med-tech company Hibergene

Audit transparency unlocked: The value of critical audit matters (CAMs) to investors

Exposure Draft:

SEBI Draft:

Consultation Paper on Strengthening Governance of Market Infrastructure Institutions (MIIs)
[Last date for Comments: July 15, 2025]
 

Acts & Regulations:

SEBI Master Circular:

Master Circular for Registrars to an Issue and Share Transfer Agents  
[Updated as on June 23, 2025]

CA's Referencer:

ICAI Reference Material:

New formats for financials of Non Corporate entities
Excel utilities for New formats
[Published by ICAI]

Legal Updates:

Income Tax:

Relaxation of time limit for processing of valid returns of income filed ​electronically pursuant to order u/s 119(2)(b) of the Income-tax Act, 1961 passed by Competent Authority [Circular No.7]

GST:

Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause notices issued by DGGI [Circular No.250]

IBBI:

Provisional List of IPs prepared in accordance with ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2025

RBI:

The Depositor Education and Awareness (DEA) Fund Scheme, 2014 – Revised Operational Guidelines

IFSCA:

Amendment to the Directions to IBUs for operations of the Foreign Currency Accounts (FCA) of Indian resident individuals opened under the Liberalised Remittance Scheme (LRS)

DGFT:

Amendment in details of an authorized agency enlisted under Appendix 2E of FTP, 2023 Agency authorized to issue Certificate of Origin (Non Preferential) [Public Notice No.12]

Corrigendum to Notification No. 18/2025-26 dated 17.06.2025 on amendment in Import Policy of specific items covered under Chapter 71 of ITC (HS) 2022 of Schedule –I (Import Policy) [Corrigendum to Notification No.18/2025-26 dated 17.06.2025]

Customs:

Corrigendum to Notification No.20/2025(ADD) 

Seeks to impose Anti Dumping Duty on imports of 'Potassium Tertiary Butoxide' originating in, or exported from China PR and United States of America and 'Sodium Tertiary Butoxide' originating in, or exported from China PR for a period of 5 years [No.20(ADD)]

Seeks to further amend notification No. 77/2021-Customs (ADD), dated 27th December, 2021 imposing Anti-dumping Duty on imports of 'Decor Paper' from China PR, to modify the existing duty table [No.19(ADD)]

Seeks to impose Anti Dumping Duty on imports of ‘Acetonitrile’ originating in or exported from China PR, Russia and Taiwan [No.18(ADD)]