GST NEW UPDATES As of February 7, 2025, India's Goods and Services Tax (GST) framework has undergone several notable changes aimed at simplifying compliance and addressing industry-specific concerns. Here's a summary of the recent updates: 1. E-Invoicing Mandate for Small Businesses Effective from April 1, 2024, e-invoicing has become mandatory for businesses with an annual turnover exceeding ₹5 crore. This initiative aims to enhance transparency and streamline the GST filing process by enabling real-time tracking of invoices. medium.com 2. Uniform GST Rate for Aircraft Parts In July 2024, India implemented a uniform 5% GST on all imports of aircraft components and engine parts, replacing the previous rates that ranged from 5% to 28%. This change is designed to simplify the tax structure and promote growth in the local maintenance, repair, and overhaul (MRO) sector. reuters.com 3. GST on Online Gaming and Digital Services The GST Council has clarified tax rates for the digital ...
RBI NEW UPDATES As of February 7, 2025, the Reserve Bank of India (RBI) has implemented several significant measures to address economic challenges and enhance financial stability. Key updates include: 1. Reduction in Repo Rate In a move to stimulate economic growth, the RBI has reduced the key repo rate by 25 basis points, bringing it down to 6.25%. This marks the first rate cut since May 2020 and is aimed at encouraging lending and investment. reuters.com 2. Introduction of Bond Forward Trading To assist long-term investors in managing interest rate risks more effectively, the RBI plans to permit trading in bond forwards. This initiative will allow investors to purchase government securities at a predetermined future date and price, facilitating better risk management. reuters.com 3. D...
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