DLS & Associates LLP

𝐒𝐄𝐁𝐈 𝐄𝐱𝐭𝐞𝐧𝐝𝐬 𝐓𝐢𝐦𝐞𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 𝐨𝐧 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐭𝐲 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 SEBI has issued a new circular extending the effective date for the Industry Standards on "Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction." Key Highlights:   ✅ The implementation date has been extended from April 1, 2025, to July 1, 2025 based on stakeholder feedback.   ✅ The Industry Standards Forum (ISF)—comprising ASSOCHAM, CII, and FICCI—will refine the standards to simplify compliance.   ✅ Stock exchanges are directed to inform listed entities about this update.  This move aims to ensure smoother implementation and better alignment with industry needs. The revised standards will be released within the extended timeline. #sebi #relatedparty #stockexchange

𝐒𝐄𝐁𝐈’𝐬 𝐍𝐞𝐰 𝐆𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐟𝐨𝐫 𝐒𝐌𝐄 𝐈𝐏𝐎𝐬 & 𝐑𝐞𝐣𝐞𝐜𝐭𝐢𝐨𝐧 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 The Securities and Exchange Board of India (SEBI) has introduced revised guidelines for SME IPOs through Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2024. These changes aim to strengthen eligibility criteria and investor protection mechanisms. Key updates include: 1. Profitability Benchmark: SMEs must report an operating profit (EBITDA) of at least ₹1 crore in two of the last three financial years. 2. Offer for Sale (OFS) Restrictions: OFS is limited to 20% of the issue size, and shareholders cannot divest more than 50% of their holdings in the IPO. 3. Promoter Lock-In: Excess holdings beyond the Minimum Promoter Contribution (MPC) will be locked in phases—50% for one year and the remaining 50% for two years. 4. Investor Allocation: The allocation process for non-institutional investors will align with main board IPOs. 5. Fund Utilization Limits: Only up to 15% of the raised amount or ₹10 crore (whichever is lower) can be used for general corporate purposes. IPO proceeds cannot be used for loan repayments to promoters, their entities, or related parties. 6. Public Feedback on DRHP: The Draft Red Herring Prospectus (DRHP) must be open for public comments for 21 days, with newspaper notifications and a scannable QR code. 7. Further Fundraising: SMEs can raise additional capital without migrating to the Main Board if they comply with SEBI (LODR) Regulations. 8. Extended RPT Norms: Related Party Transaction (RPT) norms applicable to main board entities are now extended to SME-listed companies. 9. One-Year Stability Rule: Entities converted from LLPs or partnerships to companies must operate for a full year before applying for an IPO. 10. Promoter Change Rule: Companies with major ownership shifts must wait a year before filing for an IPO. Additionally, SEBI has outlined a Rejection Framework for Draft Offer Documents, focusing on concerns such as circular transactions, vague utilization of funds, financial statement irregularities, misleading business models, and litigation risks. These measures aim to enhance transparency, protect investor interests, and streamline SME listings. #sebi #ipo #sme #smeIpo #LODR #ICDR

𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐨𝐃𝐓𝐄𝐏 𝐑𝐞𝐭𝐮𝐫𝐧 (𝐀𝐑𝐑) 𝐅𝐢𝐥𝐢𝐧𝐠 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐅𝐘 𝟐𝟎𝟐𝟑-𝟐𝟒 The Directorate General of Foreign Trade (DGFT) has extended the deadline for filing the Annual RoDTEP Return (ARR) for FY 2023-24, as per Public Notice No. 51/2024-25 dated March 19, 2025. Original Deadline: March 31, 2025 Extended Deadline: June 30, 2025 Grace Period for Late Submission: September 30, 2025 Exporters who have claimed RoDTEP benefits of ₹1 crore or more must submit the ARR within the revised timelines to ensure compliance. Delayed filing may lead to penalties or restrictions on future RoDTEP claims. This extension provides additional time for accurate filing. Businesses should utilize this period effectively to avoid last-minute issues. #DGFT #RoDTEP

𝐒𝐄𝐁𝐈 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐬 𝐀𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐭𝐨 𝐒𝐨𝐜𝐢𝐚𝐥 𝐒𝐭𝐨𝐜𝐤 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 (𝐒𝐒𝐄) 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 The Securities and Exchange Board of India (SEBI), through its circular SEBI/HO/CFD/POD-1/P/CIR/2025/33 dated March 19, 2025, has introduced key reforms aimed at increasing retail participation in the Social Stock Exchange (SSE). These measures are designed to enhance accessibility and streamline investment processes in impact-driven initiatives. 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: Lower Entry Barrier – The minimum application size for Zero Coupon Zero Principal (ZCZP) Instruments has been reduced from ₹10,000 to ₹1,000, enabling broader participation in social investments. Introduction of NSE’s E-IPO Platform – The National Stock Exchange (NSE India) has launched an e-IPO platform with UPI integration, allowing seamless investment in ZCZP instruments up to ₹5 lakh. This initiative enhances efficiency and simplifies the investment process. These developments reflect SEBI’s commitment to strengthening the SSE framework, encouraging greater participation in sustainable and impact-driven financial initiatives. #sebi #investment #ipo #nse

This Holi, let’s trade stress for vibrant colors and worries for joyful laughter! Bright hues, cheerful smiles, and unforgettable memories—celebrating the festival of happiness! 🎉 #holi #happyholi #festival #festivalofcolours

Attention, businesses with multiple GST registrations: the Input Service Distributor (ISD) mechanism becomes mandatory on April 1, 2025. This change affects how you allocate Input Tax Credit (ITC) on common input services. *Key Dates to Remember:* April 1, 2025: ISD mechanism enforcement begins. *Immediate Actions Required:* Assess Current ITC Allocation: Review your existing ITC processes to identify areas needing adjustment for ISD compliance. Register as an ISD: Ensure your business registers as an ISD before the April 1, 2025 deadline to avoid non-compliance penalties. Update Accounting Systems: Modify your accounting and ERP systems to accommodate the ISD mechanism for accurate ITC distribution. Train Finance Teams: Provide training for your finance and accounting teams on the new ISD procedures to ensure a smooth transition. Proactive compliance with the ISD requirements is crucial for seamless business operations. Stay informed and prepared to adapt to this significant change in GST regulations. #cbic #Directtax #indirecttax #customs

Dear Valuable Readers, 𝗠ove forward with confidence. 𝗔im for excellence. 𝗥eflect and refine. 𝗖hallenge yourself to grow. 𝗛arness new opportunities. As the third month of the year unfolds, #March arrives with a promise of transformation. It is a month that bridges seasons, bringing the warmth of spring in some places and signaling new beginnings. March reminds us that change is not just inevitable but necessary for growth. It is a time to step forward, embrace new opportunities, and unlock our true potential. The following insights will be covered by our #Newsletter : #Direct Tax Amendments #GST Amendments #SEBI Amendments #RBI Amendments #ROC Amendments Article on "Overview of Ind #AS 16- Property, Plant & Equipment” by Bailsy Mishra Article on "Valuation in #Merger & Acquisition” by Ankush Jindal Article on "#Carbon Accounting Proxies" by Vartika Agrawal #Compliance Calendar related to Company law, Income Tax and other statutes. "Timeless Wisdom for Today" - From Bhagvad Gita. As we enter March, let’s make it a month of momentum. Let’s stride forward with confidence, pursue excellence, reflect on our progress, push our limits, and seize new opportunities—because success isn’t about waiting for the perfect moment, but about making every moment count. So, let’s march forward—with Courage, Clarity, and Determination! We request to read attached copy of our newsletter and if you have any feedback, suggestions or inquiries, please feel free to reach out to us at dls@dlsca.in. Harsha Ramnani Sumit Dhadda CA Divya Dhadda CA. Neha Bhandari Manish Lalwani Arsalaan Ilahi CA Megha Gupta Riya Jain Ruchi Singh CA Kushagra Sharma

To the women who lead, create, inspire, and transform—today is a celebration of you! Your strength is not just in what you do but in the way you do it—with grace, courage, and a spirit that never backs down. You are not just a part of the story; you write it. Keep shining, keep conquering, and keep proving that no dream is too big! Happy Women’s Day to all females of the DLS! #WomensDay #EmpowerHer #LeadInspireAchieve #WomenInLeadership #StrongerTogether #dls #BreakingBarriers #CelebratingWomen

𝗘𝘅𝗰𝗶𝘁𝗶𝗻𝗴 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆! DLS & Associates LLP is hiring CA interns who cleared their exams in the January 2025 attempt. Opportunities in the fields of: ✅ IND-AS/IFRS Audits ✅ Valuation Advisory ✅ ESG Reporting & Advisory ✅ Impact Assessment ✅ Assurance Practice ✅ Credit Monitoring ✅ Direct & Indirect Taxation Eligibility Criteria: ✔ Cleared CA Intermediate ✔ Strong communication & computer skills ✔ Eager to learn & adapt 📩 Send your CV to: harsha.ramnani@dlsca.in | dls@dlsca.in 📍 Location: Jaipur Harsha Ramnani Sumit Dhadda #dls #Hiring #CAInterns #CharteredAccountant #InternshipOpportunity #JaipurJobs #DLSAssociates #FinanceCareers #ESG #IFRSAudits #ValuationAdvisory #Taxation #Assurance #CareerGrowth #LearningOpportunity

Celebrating Excellence! A huge congratulations to Ankush Jindal for securing an All India Rank 15 in the #CS Executive exams! Ankush, your dedication, perseverance, and relentless hard work have truly paid off. This incredible achievement is a reflection of your passion and commitment to excellence. We at DLS & Associates LLP are prouder of your success! This is just the beginning and we are excited to see you soar even higher in your journey ahead. Wishing you all the best for the next steps!