Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

IASB Exposure Draft

SEBI Draft

MCA eForms

Legal Updates

  • Income Tax
  • IDS, 2016
  • Service Tax
  • SEBI
  • IRDA
  • Central Excise
  • Customs
  • RBI
  • DGFT


Indian News:

EPFO pensioners can give digital life certificate till Feb 28

Govt puts on hold its move to tax indirect transfers

CAG wants provision in GST law to seek any info for audit

IDS disclosures valid if taxes realised by December 5: CBDT

Note ban can do little to stop future blackmoney flow:Assocham

Now, no tax on services rendered by business correspondents to rural banks

Deferring GST roll out pragmatic,industry gets clarity: Experts

Budget 2017: Government may accord infrastructure status to low-cost housing

Notes ban: I-T dept unearths Rs 1,550 cr stash pumped by entry operators, hawala dealers

Centre, states break impasse over GST, rollout likely from July 1

RBI raises ATM withdrawal limit to Rs 10,000 a day

No returning to subsidies on petrol, diesel: Govt

Junk food to become costly if government clears ‘fat tax’ proposal

Take note! Claiming LTA is set to get complex from this year

Maharashtra ropes in expert auditors to crack economic offence cases

RBI has no data on scams in co-op banks post demonetisation, reveals RTI

Time to end tax havens: Richest 1% own 58% of India's total wealth

Finmin readying plan to infuse funds in PSBs

Budget may aim to help more start-ups qualify for incentives

Higher tax breaks on home loans likely

Govt mulls raising FDI limit in print media to 49%

Sebi allows civic bodies to issue bonds

Demonetisation: RBI's own figures indicate return of 15 lakh crore of banned notes

Sebi streamlines norms for mergers involving listed companies

Government issuing new-look and tamper-proof PAN cards: Income-Tax dept

Is cash transaction tax really required?

'Insolvency and bankruptcy code aims at creating alertness for debtors and creditors'

Govt levies dumping duty on colour coated steel

Income Tax officials may crackdown on benami bank accounts

FM may drop tough tax accounting rules

Supreme Court dismisses plea seeking taxation of political parties

Bankruptcy and Insolvency Code will drive creation of a new debt market

Sebi may lower broker fee to Rs 15 per transaction of Rs 1 cr

Sebi plans steps to tighten settlement norms

India's fiscal deficit among the highest in G20 countries: Urjit Patel

Important for GST be implemented before September 16: Jaitley

Hopeful of resolving issues to roll out GST from April 1: Jaitley


International News:

IASB proposes amendments to 3 IFRS standards

FASB proposes changes on debt classification and inventory disclosures


IASB Exposure Draft:

Annual Improvements to IFRS Standards 2015–2017 Cycle
[Last date for comments: April 12, 2017]


SEBI Draft:

Addendum to Consultation Paper on Enhancing Disclosures and Introduction of Risk-o-Meter - In case of public issuance of Non-Convertible Redeemable Preference Shares and Debt Securities by Municipalities
[Last date for comments: January 29, 2017]


MCA eForms:

Updated on January 17, 2017


Legal Updates

Income Tax:

Clarification on Indirect Transfer provision under the Income Tax Act, 1961 [Press Release]

Revised DTAA with Cyprus [No.3]


IDS, 2016:

The Income Declaration Scheme, 2016 [Instruction No.2/2017]


Service Tax:

Seeks to amend notification No. 26/2012-ST dated 20.06.2012 so as to rationalize the abatement for tour operator services [No.4]

Seeks to amend notification No. 30/2012-ST dated 20.06.2012 so as to specify the person liable for paying service tax in case of services provided by a person located in non-taxable territory to a person located in non-taxable territory [No.3]

The Service Tax (Amendment) Rules, 2017 [No.2]

Seeks to amend notification No. 25/2012-ST dated 20.06.2012 [No.1]



Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2017

Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2017



Partial Modification of the provisions of Guidelines on Standardization in Health Insurance


Central Excise:

Notification under Section 11C of the Central Excise Act on Plain (un-modified) Tamarind Kernel Powder falling under heading 1302 [No.1(NT)]

Further amendment to Notification No.12/2012-Central Excise dated 17.03.2012 [No.2]



Amendments effective from 15-01 -2017 to the All Industry Rates of Duty Drawback [Circular No.2]

Tariff value Notification in respect of Fixation of tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver [No.4(NT)]

Regarding in amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIR of duty drawback [No.3(NT)]

Seeks to levy provisional anti- dumping duty on 'Colour coated/pre-painted flat products of alloy or non-alloy steel' originating in or exported from China and European Union [No.2(ADD)]



Enhancement of withdrawal limits from ATMs and Current Accounts

Evidence of Import under Import Data Processing and Monitoring System (IDPMS)



Notification of ITC (HS), 2017 - Schedule-1 (Import Policy) [No.36]

Amendment in Chapter 2 of the Handbook of Procedure(2015-20) [Public Notice No.54]