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The alley for Indian Chartered Accountants

Daily Newsletter - June 5, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

CBIC Draft

IFRS Draft

Acts & Regulations:

SEBI Master Circular

Useful Forms:

MCA eForms

Legal Updates:






News Update:

Indian News:

Sebi mandates process of securities payout directly to client accounts

CBIC unveils new draft, set to replace 8-decade old central excise regime

AI in finance: How algorithms are shaping personal wealth management

GST appeal process to be fully digitised

New EPF account rules in May: EPFO made these four major changes to the EPF account, claims process in May 2024

Sebi seeks additional IPO disclosures to speed up clearance process

Sebi introduces 'Saarthi 2.0' mobile app on personal finance for investors


International News:

ChatGPT scores 60% accuracy on financial statement analysis

FASB Proposes Rule on How Companies Account for Government Grants

Understanding the PCAOB's stricter quality control rules

Exposure Drafts:

ICAI Exposure Draft:

Proposed New Model of Networking - LLP Firm Network Model
[Last date for comments: June 6, 2024] 


CBIC Draft:

Draft ‘Central Excise Bill, 2024’
[Last date for comments: June 26, 2024] 


IFRS Draft:

Proposed IFRS Taxonomy Update
Accounting Taxonomy 2024 — Update 1

[Last date for Comments: Spetember 3, 2024] 

Acts & Regulations:

SEBI Master Circular:

Master Circular for Bankers to an Issue
[Published on June 3, 2024]

Useful Forms:

MCA eForms:

The following MCA eForms have been updated:

Form BEN-2
Return to the Registrar in respect of declaration under section 90

Form for filing XBRL document in respect of cost audit report and other documents with the Central Government

Form ADJ
Memorandum of Appeal

Form AOC-4(XBRL)
Form for filing XBRL document in respect of financial statement and other documents with the Registrar

Legal Updates:


The Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2024



Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account

Disclosures of Material Changes and Other Obligations for Foreign Portfolio Investors

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024



Amendment in item description of 'Glufosinate Technical' covered under HS Code 38089390 of Chapter 38 of Schedule –I (Import Policy) of ITC (HS) 2022 [Notification No.14]

Relaxation in the provision of submission of "Bill of Export" as evidence of export obligation discharge for supplies made to SEZ units in case of Advance Authorisation [Circular No.4]

Amendment in Appendix - 6B of FTP/HBP, 2023 [Public Notice No.8]



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