Exemption of Stamp Duty on Land Transfer for Landowners
The Rajasthan State Government has announced a stamp duty exemption on land transfer instruments allotted to landowners in exchange for acquired land. This exemption aims to ease the financial burden on original landowners; however, it does not apply to assignees or transferees. The initiative supports a smoother land acquisition process while ensuring benefits are directed to the rightful landowners.
Bihar Real Estate (Regulation and Development) (Amendment) Rule, 2024
The Bihar Government has introduced the Bihar Real Estate (Regulation and Development) (Amendment) Rules, 2024 on Feb 18, 2025 to amend the Bihar Real Estate (Regulation and Development) Rules,2017.
Clarification on GST Rates and classification of goods
The GST Council’s 55th meeting, held on December 21, 2024, in Jaisalmer, led to important clarifications on GST rates and classification of various goods. Based on the Council’s recommendations, the government has issued Circular No. 247/04/2025-GST to ensure uniformity in tax implementation.
Guidance Document/SOP for Registration of Used Oil Importer at EPR Portal for Used Oil Management
The Ministry of Environment, Forest and Climate Change amended the Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016, with the “Hazardous and Other Wastes (Management and Transboundary Movement) Second Amendment Rules, 2023” on 18th September 2023. The amendment introduces Extended Producer Responsibility (EPR) for managing Used Oil in India.
Central Board of Indirect Taxes and Customs Determines Exchange Rate of Conversion
Central Board of Indirect Taxes and Customs (CBIC) has determined the new exchange rate of conversion of foreign currency and Indian currency or vice versa which shall be effective from February 21, 2025.
Reminder for Submission of Action Taken Report pertaining to System Audit and Cyber Security & Cyber Resilience Audit of Trading Members
The NSE has directed Trading Members to rectify non-compliances identified in the System & Cyber Audit Report for the audit period ending September 30, 2024, and submit an Action Taken Report (ATR).
Mutual Credit Guarantee Scheme for MSMEs
Union Finance has launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS – MSME) for facilitating loans upto Rs. 100 crore to MSMEs for purchase of machinery or equipment without collateral, in pursuance of the Union Budget 2024-25 announcement.
Remission of Stamp Duty on Outstanding Demands
The Rajasthan Government has made an announcement under Section 9-A of the Rajasthan Stamp Act, 1998, allowing relief on outstanding stamp duty demands if paid by 30th September 2025.
Reduction of Stamp Duty on Joint Property Conveyance for Spouses
The Rajasthan Government has issued an order under Section 9(1) of the Rajasthan Stamp Act, 1998, reducing the stamp duty on property conveyance when the buyer is a married couple (husband and wife jointly).
Guidance Document/SOP for Registration of Recycler/ Co-Processor at EPR Portal for Used Oil Management
The Ministry of Environment, Forest and Climate Change amended the Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016, with the “Hazardous and Other Wastes (Management and Transboundary Movement) Second Amendment Rules, 2023” on 18th September 2023. The amendment introduces Extended Producer Responsibility (EPR) for managing Used Oil in India.
