Daily Newsletter - July 8, 2024

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Latest additions to CAalley:

News Update:

Indian News

From the ICAI:

ICAI Implementation Guide

Legal Updates:

MCA

DGFT

Customs

News Update:

Indian News:

SEZ units set to get refund of cess on imports

Some key provisions of India's new criminal laws

Govt reopens application window for PLI scheme for ACs, LED lights for 90 days

ICAI sets ball rolling on ‘aggregation of firms’, takes two key decisions

ICAI can proceed against entire CA firm for professional misconduct: Delhi High Court

Hindenburg shared Adani report with client 2 months before publishing: Sebi

With Elon Musk’s Tesla yet to plug into India, government plans changes in new EV policy; tweaks may benefit legacy car companies

Mutual fund returns: Can recent Sebi mandate of disclosing risk-adjusted return help you identify the right mutual fund?

NCLT bars Bengaluru-based CA from being appointed as statutory auditor for colluding with company’s fraudulent activities

FinMin concludes pre-Budget talks with 120 invitees, 10 stakeholder groups

ICAI “fully empowered” to act against big audit firms

ICAI disciplinary panel report on Byju’s soon

Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23

From the ICAI:

ICAI Implementation Guide:

Implementation Guide on Revision in Form No.3CD and Form No.3CEB in March, 2024 [Published in June 2024]

Legal Updates:

MCA:

Extension of time for Filing of PAS-7 [Circular No.5]

DGFT:

Amendment in policy condition of S. No. 55 &57 Chapter 10- Schedule -2, ITC(HS) Export Policy, 2018 [Notification No.19]

Customs:

Authorised Officers under Section 25 read with Section 47 (5) of Food Safety Standards (FSS) Act, 2006 and Regulation 13 (1) of FSS (Import) Regulation, 2017 [Instruction No.17]

Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s Avlock International lndia Pvt Ltd [Notification No.48(NT)]