Direct Market Access (DMA) to SEBI registered Foreign Portfolio Investors (FPIs) for participating in Exchange Traded Commodity Derivatives (ETCDs)
Stock exchanges/brokers shall adhere to the provisions stipulated in SEBI Circulars which include procedure for application for DMA, operational specifications, Client authorization and broker-client agreement, risk management, etc to avail the permission.
Clarification regarding use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards or any other instrument that can be used to create a financial liability as currency
A few Authorized Persons are levying certain fees/charges, which are payable in India on such instruments, in foreign currency. It is advised that fees/charges payable in India have to be denominated and settled in Rupees only.
RBI clarification regarding formalization of Informal Micro Enterprises on Udyam Assist Platform
An interface has been created between the UAP and Udyam Registration Portal (URP) to enable the transition and migration of the IMEs from UAP to URP, once IMEs obtain the mandatorily required documents.
NSE clarification regarding acceptance of business only from empaneled Distributors
The members are advised to ensure that before executing any subscriptions (Fresh/Additional Purchase/SIP/STP) or Switch transactions on BSE StAR MF platform, members should be duly empanelled with the respective AMCs.
The Central Board of Indirect Taxes and Customs has implemented e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 5 Crore
The Central Board of Indirect Taxes and Customs has implemented e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 5 Crore. Previously e-invoicing was only applicable to taxpayers having aggregate turnover exceeding Rs. 10 Crore.
CBDT extends income tax exemption to FSSAI
The Central Board of Direct Taxes has extended the income tax exemption under section 10 of the Income-tax Act, 1961 to Food Safety and Standards Authority of India and the Pune Metropolitan Region Development Authority.
CBIC issues procedure for payment of GST by non-registered entities
It shall make a declaration before the expiry of forty-five days from the date of applying for GST registration or one month from the date of obtaining registration whichever is later.
CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application for Central Tax Officers
In the module, discrepancies on account of risks associated with a return are displayed to the tax officers. Tax officers are provided with a workflow for interacting with the taxpayers through the GSTN Common Portal for communication of discrepancies noticed under FORM ASMT-10, receipt of taxpayer’s reply in FORM ASMT-11 and subsequent action in form of either issuance of an order of acceptance of reply in FORM ASMT-12 or issuance of show cause notice or initiation of audit / investigation.
UIDAI scaling up capacity building of Aadhaar operators to further improve residents’ experience
The exercise will strengthen the ecosystem further by making the operators aware of latest changes in policies/procedures in the Aadhaar ecosystem and cut down errors at operator level during enrolment, updates and authentication processes. Most importantly, it will further improve experience of residents.
