- Sebi has asked the GST Council to resolve tax issues related to physically settled commodity derivatives.
- Sebi proposed an integrated GST mechanism to replace the current state-level GST framework, aiming to simplify registration and delivery processes.
- The regulator believes these changes could increase participation in commodity derivatives, especially in agricultural commodities.
- Sebi is also seeking to allow banks and insurers to participate in commodity derivatives, but current regulators are not supportive.
- A revamped central KYC system (CKYC 2.0) is being developed and may be ready by July, following a directive from the finance minister to simplify and digitize KYC processes.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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