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My Dear BCAS Family,
As Dhanteras and Diwali approach, we prepare for Chopda Pujan, closing the year’s books and opening a new ledger with hope and renewed purpose. I'll do something similar here: what has changed in the law that affects your clients, what members told us in the survey, and what BCAS has been doing.
REGULATORY AND ECONOMIC DEVELOPMENTS
On 7 October, the RBI raised the repo rate by 25 basis points to 5.50%, signalling calibrated tightening amid inflation risks and elevated crude prices. Higher EMIs and borrowing costs will particularly burden MSMEs. Clients should tighten working capital cycles, review debt structures and prepare for sustained higher rates.
The 57th GST Council prioritised procedural reforms, dispute rationalisation and ease of doing business over rate changes. Recommendations include abolishing arrest powers under Section 69, a ₹5 crore prosecution threshold, a minimum demand threshold for Show Cause Notices, capped penalties and appeal pre-deposits, automated registration approvals, fewer e-way bill inspections and an optional annual return quarterly payment scheme (ARQP). Until notified, these remain recommendations; CAs must advise accordingly.
For inte
