This newsletter provides economic, regulatory, and market updates. Key points include: - The Finance Bill of 2015 was approved, bringing changes like new service tax rates and TDS on recurring deposits effective June 1. - The Goods and Services Tax may be implemented as early as January 1, 2016, earlier than expected. - Secretarial standards issued by ICSI will increase administrative burden for companies by requiring availability of documents at meetings. - SEBI issued a master circular compiling all circulars issued up to April 15, 2015 for stock exchanges and clearing corporations. - Market indices like Sensex and Nifty declined while gold, silver, and crude oil prices increased slightly.