RBI updates Priority Sector Lending (PSL) guidelines, effective April 1, 2025, replacing 2020 norms. New targets and classifications aim to boost credit flow.
RBI modifies Priority Sector Lending Certificates (PSLC) criteria for loans to small/marginal farmers, impacting PSL sub-targets and overall achievement.
RBI lowers the Priority Sector Lending (PSL) target for Urban Co-operative Banks (UCBs) to 60% of ANBC or CEOBSE from FY 2024-25 onwards.
RBI instructs banks to keep currency chests open on March 31, 2025, for government transactions, ensuring proper accounting for FY 2024-25.
CBIC amends Notification No. 61/94-Customs (N.T.), adding Navi Mumbai and Noida International (Jewar) as designated customs ports for imports and exports.
India imposes anti-dumping duty on roller chains from China for five years to protect domestic industry from unfair pricing. Some producers are exempt.
ITAT Jaipur held that since there is neither error of law nor of facts, the twin condition as required to revise the assessment order is not met out and hence invocation of revisionary power under section 263 of the Income Tax Act is not sustainable in law.
Key updates on Income Tax, GST, Customs, and more, including tax data sharing, high-risk e-verification, and recent judicial rulings.
ITAT Kolkata ruled that filing Form 67 for Foreign Tax Credit (FTC) under DTAA is procedural, not mandatory. Read key takeaways from Timirbaran Mazumder vs. DCIT.
The government amends Notification 27/2011-Customs to remove the 20% export duty on onions (HS 0703 10) starting April 1, 2025, ensuring public interest compliance.
