RBI fines Axis Bank ₹1.91 crore and HDFC Bank ₹1 crore for regulatory violations related to deposits, KYC norms, and customer service. Full details inside.
New GST registration advisory for Bihar, Delhi, Karnataka, Punjab: Biometric Aadhaar authentication and document verification now required.
SEBI addresses employee concerns on HRA and work culture, asserting transparency and accountability amidst claims of external influence over junior staff.
GST introduces Invoice Management System (IMS) from October 2024, enabling taxpayers to manage and rectify invoices for accurate Input Tax Credit (ITC).
New GST advisory reduces threshold for reporting inter-state supplies to unregistered dealers from ₹2.5 lakh to ₹1 lakh in GSTR-1 and GSTR-5.
SEBI study reveals 54% of IPO shares (excluding anchor investors) are sold within a week. Key findings include “flipping” behavior and trends post-COVID.
RBI warns the public about fraudsters using its name for scams involving fake offers, intimidation, and fake accreditation. Avoid sharing personal info.
SEBI advises caution for investors in SME segment stocks due to misleading practices by some companies. Avoid reliance on unverified sources.
Biometric Aadhaar authentication for GST registration is now required in Dadra & Nagar Haveli, Daman & Diu, and Chandigarh.
GST introduces RCM Liability/ITC Statement for accurate RCM reporting. Deadline for opening balance is 31st Oct 2024, with amendments allowed until 30th Nov 2024.
