Circular No.03/2025-Customs F.No. 524/17/2024-STO(TU) Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) North Block, New Delhi. Dated: 29thJanuary, 2025 To All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive). All Principal Chief Commissioners/Chief Commissioners of Customs & Central Tax All Principal Commissioners/ Commissioners of Customs/Customs (Preventive) All Princ...

Continue Reading...

Category : CBDT | Comments : 0 | Hits : 1112

RBI/2024-25/107 DOR.FIN.REC.No.58/03.10.136/2024-25 January 29, 2025 All Housing Finance Companies (HFCs) Dear Sir/ Madam, Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines Please refer to Chapter XI ofMaster Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021wherein guidelines on private placement of NCDs by HFCs have been pre...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1013

Circular No. 244/01/2025-GST F. No. CBIC-190354/2/2025-TO(TRU-II)-CBEC Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 28th of January, 2025 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Regularizing payment of GST on co-insurance premium apport...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1093

Circular No. 245/02/2025-GST F. No. CBIC-190354/2/2025-TO(TRU-II)-CBEC Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 28th of January, 2025 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Clarifications regarding applicability of GST on certain s...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1140

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 08/2025 – CENTRAL TAX New Delhi, the 23rd January, 2025 S.O......(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1589

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 07/2025 – Central Tax New Delhi, the 23rd January, 2025 G.S.R... (E). –In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, n...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1420

CBDT notifies amendments in Income-tax Rules, 1962 to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators As A Measure to Promote Investment and Employment, Finance (No. 2) Act, 2024 Inter Alia Provided A Presumptive Taxation Regime for Non-Residents, Engaged in The Business of Operation of Cruise Ships. Further, Exemption Has Been Provided for Any Income of a Foreign Company from Lease Rentals of Cruise Ships, Received from A Related C...

Continue Reading...

Category : CBDT | Comments : 0 | Hits : 1453

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st January, 2025 INCOME-TAX G.S.R. 67(E).—In exercise of the powers conferred by section 295 read with the sub-section (1) of section 44BBC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:___ (1) These rules may be called the Income-tax (First Amendment) Rule...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1613

RBI/2024-25/106 DoR.SIG.FIN.REC.56/26.03.001/2024-25 January 20, 2025 All Asset Reconstruction Companies (ARCs) Dear Sir/ Madam, Guidelines on Settlement of Dues of borrowers by ARCs Please refer to paragraph 15 of theMaster Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024 dated April 24, 2024which prescribes guidelines on settlement of dues payable by the borrowers of the ARCs. On a review, it has been decided to revise these guidelines a...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1444

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 01/2025- Central Tax (Rate) New Delhi, the 16thJanuary, 2025 G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5)of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on beingsatisfied that it is necessary in the public interest so to do, on the recommendations of the Council, herebymakes the followin...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1426

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 02/2025- Central Tax (Rate) New Delhi, the 16thJanuary, 2025 G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 11 of the CentralGoods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessaryin the public interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notific...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1433

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 03/2025- Central Tax (Rate) New Delhi, the 16 January, 2025 G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of section 9 of the Central Goodsand Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in thepublic interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notifica...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1271

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 04/2025-Central Tax (Rate) New Delhi, the 16 January, 2025 G.S.R. ......(E). -In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods andServices Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the publicinterest so to do, on the recommendations of the Council, hereby makes the following amendments in thenotification of ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1225

RBI/2024-25/104 Ref.No.DoS.CO.PPG/SEC.13/11.01.005/2024-25 January 17, 2025 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) All Primary (Urban) Co-operative Banks All Deposit Taking NBFCs (Excluding HFCs) [Supervised Entities (SEs)] Madam / Dear Sir, Coverage of customers under the nomination facility As you are aware, the nomination facility is intended to minimise the hardship and facilitate expeditious settleme...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1223

RBI/2024-25/105 CEPD.CO.OBD.No.S1270/50-01-001/2024-25 January 17, 2025 Chairman/Managing Director/CEOs All Commercial Banks (including Regional Rural Banks, Small Finance Banks, Payment Banks, and Local Area Banks) All Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks All Prepaid Payment Instrument Issuers All Non-Banking Financial Companies (including Housing Finance Companies) All Credit Information Companies All Payment Aggre...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 927

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 395(3)/2025-RB January 14, 2025 Foreign Exchange Management (Mode of Payment and Reporting of Non- Debt Instruments) (Third Amendment) Regulations, 2025 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Mode of Payment and...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 812

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 10(R)(5)/2025-RB January 14, 2025 Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025 In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the F...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 686

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 5(R)(5)/2025-RB January 14, 2025 Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025 In exercise of the powers conferred by sub-section (2) of section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Deposit) Regulation...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 568

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 04/2025 – CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).- In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the return by an Input Serv...

Continue Reading...

Category : GST | Comments : 0 | Hits : 628

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 06/2025 – CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).- In exercise of the powers conferred by first proviso to sub-section (4) of section 52 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the statem...

Continue Reading...

Category : GST | Comments : 0 | Hits : 668

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION NO. 05/2025–CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).– In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner , on the recommendations of the Council, hereby extends the time limit for furnishing the return by a regi...

Continue Reading...

Category : GST | Comments : 0 | Hits : 587

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 03/2025 – CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).- In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the return by a non-res...

Continue Reading...

Category : GST | Comments : 0 | Hits : 550

RBI/2024-25/ 126 FMRD.FMD.No.10/14.01.006/2024-25 January 07, 2025 All Authorised Persons Madam/Sir, Master Direction - Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025 In exercise of the powers conferred under section 6, read with section 47 of the Foreign Exchange Management Act, 1999, the Reserve Bank has issued the following regulations to regulate non-resident investment in debt instruments in Ind...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 732

Master Direction on Credit Information Reporting The Reserve Bank of India has today issued theMaster Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025. The Master Direction consolidates the existing instructions on credit information reporting and dissemination, issued to the regulated entities (REs) of the Reserve Bank. (Puneet Pancholy) Chief General Manager Press Release: 2024-2025/1861 ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 665

RBI/DoR/2024-25/125 DoR.FIN.REC.No.55/20.16.056/2024-25 January 06, 2025 All Commercial Banks including Small Finance Banks, Local Area Banks and Regional Rural Banks and excluding Payment Banks All Primary (Urban) Co-operative Banks/ State Co-operative Banks/ Central Co- operative Banks All India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID) All Non-Banking Financial Companies including Housing Finance Companies All Asset Reconstruction Companies All Credit Inform...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 731

RBI/2024-25/103 CO.DGBA.GBD.No.S770/42-01-029/2024-2025 January 03, 2025 All Agency Banks Madam/Dear Sir, Status of March 30, 2025 for Government transactions through integration with e-Kuber The ‘e-Kuber’ which is the Core Banking Solution platform of RBI for Government and other payments does not process any Government transactions on Global holidays (which are 26th January, 15th August, 2nd October, all 2nd and 4th Saturdays of a month and on all Sundays). It is ob...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 682

RBI/2024-25/102 FIDD.CO.LBS.BC.No.11/02.08.001/2024-25 January 02, 2025 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new district in the State of Nagaland – Assignment of Lead Bank Responsibility The Government of Nagaland has notified formation of a new district, viz., Meluri in the state of Nagaland vide Gazette Notification No.GAB-I/Adm-1/CREATION/21 dated November 02, 2024. Accordingly, it has been d...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 691

RBI/2024-25/101 FMRD.DIRD.No.09/14.03.004/2024-25 January 01, 2025 To All eligible market participants Madam/Sir, Participation of NaBFID as an AIFI in financial markets Please refer to thepress release dated March 09, 2022wherein it was communicated that the National Bank for Financing Infrastructure and Development (NaBFID) shall be regulated and supervised as an All-India Financial Institution (AIFI) by the Reserve Bank under Sections 45L and 45N of the Reserve Bank of In...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 744

RBI/2024-25/100 DOR.STR.REC.54/21.04.048/2024-25 December 31, 2024 All Commercial Banks (including Regional Rural Banks and Local Area Banks) All Primary (Urban) Co-operative Banks All State Cooperative Banks & Central Cooperative Banks All Non-Banking Financial Companies (including Housing Finance Companies) All All-India Financial Institutions Madam/Dear Sir, Government Debt Relief Schemes (DRS) ThePrudential Framework for Resolution of Stressed Assets dated June 7, 2...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1039

RBI/2024-25/99 CO.DPSS.RPPD.No.S987/04.03.001/2024-25 December 30, 2024 The Chairman / Managing Director / Chief Executive Officer of Banks participating in RTGS and NEFT systems Dear Sir / Madam, Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems Please refer toStatement on Developmental and Regulatory Policies dated October 9, 2024, proposing the introduction of beneficiar...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 698