Daily Newsletter - July 28, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Useful Forms:

ITR Utilities

Legal Updates:

Income Tax

GST

SEBI

DGFT

Customs

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News Update:

Indian News:

50% financial assistance to firms setting up semiconductor-manufacturing unit in India: Prime Minister Modi

FM pitches for regulatory impact assessments to enhance accountability

Indian firms can go for listing on foreign exchanges, IFSC: Sitharaman

27% income taxpayers yet to file ITR, of which 14% can't meet deadline

Chartered Accountant Uses Client's Account To Turn Black Money Into White

GST officers arrest 3 for fraudulent ITC claims of Rs 557 cr, fake firms

SEBI reveals framework for the creation of a fund for stressed debt schemes

Explained | RBI’s proposal for interoperability of credit and debit cards

Rent on PG accommodation, hostel services to attract GST: Karnataka AAR

Currency note with * symbol in number panel valid note: RBI

Govt firm on July 31 income tax returns deadline

SEBI needs to pace its regulatory changes

  

International News:

AICPA debuts new practice aid for tech-enabled auditing

Fed hikes rates to highest level in 16 years at 5.25%-5.5% citing inflation

FASB Approves New Requirements for Disclosure of Big Expenses by Segment

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Useful Forms:

ITR Utilities:

Updated: Excel Utility for ITR 7

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Legal Updates:

Income Tax:

​Standard Operating Procedure (SOP) for making application for recomputation of total income of a co-operative society engaged in the business of manufacture of sugar, as provided for in sub-section (19) of Section 155 of the Income-tax Act, 1961​ [Circular No.14]

Corrigendum to Notification No.37/2023 [Notification No.53]

  

GST:

16 GST Notifications dated July 26, 2023

  

SEBI:

Mandating Legal Entity Identifier (LEI) for all non – individual Foreign Portfolio Investors (FPIs)

Investment by Mutual Fund Schemes and AMCs in units of Corporate Debt Market Development Fund

Framework for Corporate Debt Market Development Fund (CDMDF)

Commencement notification for certain provisions under the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023

  

DGFT:

Amendment in Export Policy of De-Oiled Rice Bran [Notification No.21]

Procedure for allocation of quota for export of Broken Rice on humanitarian and food security grounds, based on requests received from Governments of other Countries [Trade Notice No.19]

Procedure for allocation of quota for export of Broken Rice on humanitarian and food security grounds, based on request received from Government of Mali and Government of Bhutan [Trade Notice No.18]

Procedure for allocation of quota for export of Wheat, Wheat Flour (Atta) and Maida/Semolina on humanitarian and food security grounds, based on requests received from Government of Bhutan [Trade Notice No.17]

  

Customs:

Seeks to amend certain notifications in order to implement recommendation of GST COUNCIL in its 50th meeting [No.46]

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