RBI Imposes ₹10 Crore Minimum Net Worth Requirement for Financial Market SROs In an epoch-making move aimed at fortifying the bedrock of self-regulation within India’s financial market landscape, the Reserve Bank of India (RBI) recently promulgated a comprehensive framework for Self-Regulatory Organizations (SROs). This landmark initiative mandates an indispensable minimum net worth of ₹10 crore for entities vying for SRO status, underscoring the RBI’s commitment to amplifying a culture of compliance, innovation, and ethical conduct […]

Sebi Eases Borrowing Rules for AIFs to Address Drawdown Shortfalls In a significant move to enhance operational flexibility, the Securities and Exchange Board of India (Sebi) has eased borrowing regulations for Category I and II alternative investment funds (AIFs). This adjustment allows these funds to effectively manage drawdown shortfalls, thereby simplifying business processes and maintaining investor relations. Understanding Drawdowns in AIFs Drawdowns reflect the decrease in the value of an investment from its peak to […]

Focus on Identifying High-Risk Taxpayers in GST Composition Scheme, Advises CAG Estabizz Fintech Pvt Ltd underscores the Comptroller and Auditor General’s (CAG) recent advisory for the Finance Ministry to spotlight identifying high-risk taxpayers within the GST composition scheme. This call to action comes after a detailed analysis of data spanning from 2019-20 to 2021-22, involving 8.66 lakh composition taxpayers under central jurisdiction. Estabizz champions the CAG’s recommendation to leverage third-party data, including IT returns and […]

Challenges and Opportunities for Small Businesses Under GST: A Closer Look Introduction In the seven years since the introduction of the Goods and Services Tax (GST), its impact on India’s economic landscape has been significant. Estabizz Fintech Pvt Ltd explores how GST has promised to streamline the tax system, reduce tax leakage, and eliminate the cascading impact of taxes, thereby fostering a smoother commerce flow across state lines. This transformative move has notably opened up […]

GST on Insurance Premium: Upcoming Council Debate in September Introduction In the financial landscapes of India, the treatment of GST on insurance premiums has sparked considerable dialogue. This discussion, underpinned by Finance Minister Nirmala Sitharaman’s recent remarks, accentuates the rising anticipation for the GST Council’s next assembly. Slated for September, this crucial meet aims to revisit the pressing matter of GST applicability on insurance premiums. The Drive for Reevaluation The impetus for this forthcoming discourse […]