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Stay informed and up-to-date with the latest news and insights related to compliance

ricago Newsletter February Edition - 2025

Judicial Insight

SHANTI & ORS. VS. NATIONAL INSURANCE COMPANY: SUPREME COURT UPHOLDS STATUTORY INTEREST ON DELAYED COMPENSATION

Shanti & Ors. Vs.National Insurance Company CIVIL APPEAL No. 2586 of 2025 @ SLP (C) No.1530 of 2022]

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Tax Laws

PROCEDURE TO BE FOLLOWED IN DEPARTMENT APPEAL FILED AGAINST INTEREST AND/OR PENALTY ONLY, RELATED TO SECTION 128A OF THE CGST ACT, 2017

Applicable to all taxpayers who have fully paid their tax dues under Section 73 of the CGST Act for FY 2017-18, 2018-19, and 2019-20, where only interest and/or penalty is in dispute

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Corporate Laws

MASTER DIRECTION - ACCESS OF SEBI-REGISTERED NON-BANK BROKERS TO NDS-OM

Applicable to all banks, NBFCs, primary dealers, mutual funds, insurance companies, pension funds, provident funds, and AIFIs, granting them direct access to the platform

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Corporate Laws

COMPANIES (PROSPECTUS AND ALLOTMENT OF SECURITIES) AMENDMENT RULES, 2025

Applicable to all private companies, excluding Producer companies, which were not classified as small companies as of 31st March 2023.

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Corporate Laws

RBI - MASTER DIRECTION – FOREIGN INVESTMENT IN INDIA

Applicable to foreign investors, Indian companies receiving foreign investment, financial institutions, legal and compliance advisors, startups, LLPs, and businesses in regulated sectors.

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Tax Laws

IMPLEMENTATION OF MANDATORY MENTIONING OF HSN CODES IN GSTR-1 & GSTR 1A

Applicable to all registered taxpayers required to report HSN codes in their GST returns.

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Corporate Laws

CBDT GUIDANCE FOR APPLICATION OF THE PRINCIPAL PURPOSE TEST (PPT) UNDER INDIA'S DOUBLE TAXATION AVOIDANCE AGREEMENTS-RE

Applicable to all foreign investors, multinational corporations, Indian companies with overseas transactions, financial institutions, tax professionals, and non-resident individuals claiming treaty benefits.

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Judicial Insight

CASE LAW SC SETS ASIDE HIGH COURT ORDER: DELAY CONDONATION IN RERA APPEALS CLARIFIED

SC Sets Aside High Court Order: Delay Condonation in RERA Appeals Clarified.

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