RBI Updates
RBI has revised the guidelines prescribing eligibility criteria of housing loans for classification under priority sector, which shall come into effect from the date of the Circular i.e 19-06-2018. With a view to bringing convergence of the Priority Sector Lending guidelines for housing loans with the Affordable Housing Scheme, and to give a filip to low-cost housing for the Economically Weaker Sections and Low Income Groups, the housing loan limits for eligibility under priority sector lending will be revised to ₹ 35 lakh in metropolitan centres (with population of ten lakh and above), and ₹ 25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed ₹ 45 lakh and ₹ 30 lakh, respectively. Furthermore, the existing family income limit of ₹ 2 lakh per annum, prescribed under Para 10.4 of the above Master Direction, for loans to housing projects exclusively for the purpose of construction of houses for Economically Weaker Sections (EWS) and Low Income Groups (LIG), is revised to ₹ 3 lakh per annum for EWS and ₹ 6 lakh per annum for LIG, in alignment with the income criteria specified under the Pradhan Mantri Awas Yojana. All other terms and conditions specified under the Master Direction shall remain unchanged.
GST Updates
The Central Board of Indirect Taxes and Customs has notified the Central Goods and Services Tax (Sixth Amendment) Rules, 2018 which shall come into force on the date of their publication in the Official Gazette. Amendment is made in Rule 58, to allow transporter who is registered in more than one State or Union Territory having the same Permanent Account Number, to register for, unique common enrolment number by submitting the details in FORM GST ENR-02 using any one of his Goods and Services Tax Identification Numbers. Further, on allotment of unique common enrolment number, the transporter shall not be eligible to use any of the Goods and Services Tax Identification Numbers for the purposes of the said Chapter XVI. In this regard, the Form GST ENR-02 which is an Application for obtaining unique common enrolment number is also made available and notified.