Daily Newsletter - August 2, 2024

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Latest additions to CAalley:

News Update:

Indian News

Budget 2024 News

Exposure Drafts:

RBI Drafts

Useful Forms:

ITR eFiling Utilities

Legal Updates:

GST

RBI

SEBI

DGFT

Customs

Central Excise

 

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News Update:

Indian News:

Supreme Court upholds NFRA's 10-year ban and Rs 20 lakh fine for auditor Anil Chauhan over Seya Industries' misconduct

Sebi says it's considering 'demystified filing' to speed up IPO approvals

The tax issue: Karnataka withdraws Infosys notice, Centre may go for review

Irdai levies Rs 2 cr penalty on HDFC Life Insurance for violating norms

Homebuyers empowered by MahaRERA against builders' cheating: Sale agreement to include all these mandatory details

New FASTag regulations from August 1: Update KYC, link to vehicle, and more

RBI issues two-factor check norms

RBI releases draft rules for Aadhaar based payment operators to avert fraud

UPI, IMPS, retail payments of some banks temporarily unavailable due to ransomware attack on tech-provider

Most fintech, banking apps tap into users' location, other information

1 in 2 Indians reject bank, credit card applications over complex ID checks

3.4L GST registrations cancelled over 3 years

Rapido liable to pay GST for cab services: Karnataka AAR

 

Budget 2024 News:

New Budget 2024 rule: Why Income Tax Department is likely to issue a huge number of tax notices this month

Budget 2024: Why crypto F&O investors are happy - No STT, no TDS, no 30% tax

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Exposure Drafts:

RBI Drafts:

Draft Framework on Alternative Authentication Mechanisms for Digital Payment Transactions
[Last date for Comments: September 15, 2024] 

Aadhaar Enabled Payment System (AePS) – Due Diligence of Touchpoint Operators – Draft Directions
[Last date for Comments: August 31, 2024] 

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Useful Forms:

ITR eFiling Utilities:

The following utilities have been updated:

Common Offline Utility (ITR 1 to ITR 4) - Windows Utility

Common Offline Utility (ITR 1 to ITR 4) - MAC Utility

ITR 4 - Excel Utility

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Legal Updates:

GST:

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Jammu & Kashmir and West Bengal

Advisory: Detailed Manual and FAQs on filing of GSTR-1A

  

RBI:

Prudential Treatment of Bad and Doubtful Debt Reserve by Co-operative Banks

  

SEBI:

Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria

  

DGFT:

Inclusion of Kandla and Vishakhapatnam Sea Ports for Export of Essential Commodities to Maldives during FY 2024-25 [Notification No.22]

  

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.53(NT)]

Seeks to amend notification No. 50/2017- Customs, dated 30.06.2017, in order to prescribe conditional BCD rate of 10% on Laboratory Chemicals [excluding undenatured ethyl alcohol of any alcoholic strength], falling under HS 9802 00 00, for specified use [Notification No.41]

Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s lan Macleod Distillers lndia Pvt. Ltd. [Notification No.52(NT)]

  

Central Excise:

Seeks to amend No. 19/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude [Notification No.19]

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