SUMIT CHOPRA & ASSOCIATES

Chartered Accountant

News & Events

22/12/2024 Recommendations of the 55th Meeting of the GST Council 21/12/2024 GST Council declared that voucher transactions will not be subject to GST RBI imposes Rs 27.30 lakh penalty on IndusInd Bank RBI Prioritizing inflation control amid slowing Economic Growth 10% Tax Instead of 5% on Dividend Income from January 1, 2025 in Switzerland GST E-Way Bill rules changed; Buyers’ Input Tax credit is at risk if seller does not follow these new Rules Defers insurance overhaul, recommends 18% tax on used EVs and Smaller Cars GST Council Defers Decision on Insurance Tax Cuts Amid Lack of Consensus Among States GST Council meeting of the of the indirect tax began Pre-Budget Consultation: States seek more fiscal support for capex plans Rate cut would help in reviving economic growth without worsening the inflationary situation 20/12/2024 RBI board reviews global, domestic Economic Situation CAG Report Raises red Flags over Income Tax Department’s Handling of Arrears and Outstanding Demands RBI advises states to be more prudent in managing finances GST Council meet: Ordering from Swiggy, Zomato May Get Cheaper SEBI makes IPO rules stricter for small firms, overhauls investment banking norms 19/12/2024 Government Appoints Rama Mohan Rao Amara as SBI Managing Director GST Authorities, E-Gaming Companies in Race Against Time RBI May face tougher path in Feb rate cut as Fed reshaped global monetary Policy Expectations 18/12/2024 SEBI bans You Tube Influencer with 19 Lakh - Plus Subscribers for Investment Scam; fines Rs. 9.5 Crore Net direct tax collection grows 16.45% to Rs 15.82 lk cr so far, this fiscal India Plans Up To 25% Temporary Tax to Curb Cheap Chinese Steel Imports CBIC Chairman Shri Sanjay Kumar Agarwal launches new initiatives to enhance taxpayer services GST rates on insurance: Group of Ministers submits report, Council to consider proposals The year of the pause: - How RBI maneuvered its policy in 2024 Entry of RR No./eT-RRs in EWB system Post EWB-FOIS Integration Error In Assessment of Income Tax Identified GST Advisory on Updates to E-Way Bill and E-Invoice Systems CBDT launches campaign to intimate taxpayers on mismatch in ITR filed and AIS     Notification/Circulars 17/12/2024 Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 - reg. 09/12/2024 Credit Flow to Agriculture – Collateral free agricultural loans Maintenance of Cash Reserve Ratio (CRR) Interest Rates on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] Deposits 04/12/2024 Extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder. Implementation of Section 51A of UAPA,1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendments in 03 Entries Amendment to Framework for Facilitating Small Value Digital Payments in Offline Mode 03/12/2024 Inoperative Accounts / Unclaimed Deposits in banks 11/11/2024 Operational framework for reclassification of Foreign Portfolio Investment to Foreign Direct Investment (FDI)

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