The RBI proposes replacing the existing dual methodology with a single asset-based criterion for identifying NBFC-UL entities. The move aims to simplify classification and improve transparency in regulatory oversight.
The discussion paper addresses increasing APP frauds and proposes preventive safeguards like transaction delays and authentication layers. It aims to strengthen security without disrupting digital payment convenience.
The guide explains practical steps to identify MSME-registered vendors despite no official lookup system. It highlights documentation-based verification as the most reliable approach.
The issue was fragmented regulations on NRI debt investments. RBI consolidated and updated directions to streamline compliance under FEMA.
Companies that settle all MSME dues within 45 days are not required to file MSME Form 1 under original provisions. The rule focuses on delayed payments rather than routine reporting. Maintaining prompt payment practices avoids compliance burden.
Refunds under customs law are allowed only when the claimant proves the duty burden was not passed to another. Courts have held that failure to establish this results in denial of refund and credit to the Consumer Welfare Fund.
The requirement to file MSME-1 arises only when payments to Micro and Small Enterprises remain outstanding beyond 45 days. The framework clarifies that timely payments eliminate the filing obligation, making it a conditional compliance requirement.
Reimbursements are taxable if they form part of consideration under GST valuation rules, regardless of their label. Only limited cases meeting strict pure-agent conditions qualify for exclusion.
Supreme Court held that borrower doesn’t possess any legal right to a personal hearing by banks before classifying their account as fraud account. Accordingly, the civil appeal is partly allowed.
The court recognized cryptocurrency as property, but lack of statutory clarity leaves companies uncertain about holding, accounting, and liquidating crypto assets.
