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Daily Newsletter - March 1, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:



Useful Forms:

MCA Forms

Acts & Regulations:

RBI Master Direction

CA's Referencer:


Legal Updates:





News Update:

Indian News:

Bihar traders offered 'one-time settlement' for pre-GST era tax liabilities

Kolkata trader held for ‘₹500cr GST fraud’ in J’khand, 4 states

Tax official arrested for taking bribe to resolve firm's GST suspension

RBI expands scope of BBPS directions to non-bank payment aggregators

GST on corporate guarantees: Experts await more clarity

CAG, ICAI to launch online courses to strengthen local bodies’ accounting

Fintech compliances have to be simplified, made user friendly: Sitharaman

RBI proposes norms for disclosure of climate-related financial risks for lenders

Global audit framework for local bodies in the works: CAG


International News:

IFRS Foundation publishes research on applying materiality judgements

Green audits are coming for a company near you

New FASB Segment Accounting Rules Carry Big Implications for Using Non-GAAP Measures

Exposure Drafts:

IFSCA Draft:

Consultation paper on the proposed IFSCA (Payment Services) (Amendment) Regulations, 2024
[Last date for Comments: March 21, 2024]


PCAOB Draft:

Proposals Regarding False or Misleading Statements Concerning PCAOB Registration and Oversight and Constructive Requests to Withdraw from Registration
[Last date for Comments: April 12, 2024] 

Useful Forms:

MCA Forms:

The following MCA eForms have been updated as on February 29, 2024:

Form 23AC
Form 23B

All MCA eForms are available at here

Acts & Regulations:

RBI Master Direction:

Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024

CA's Referencer:

From ICAI:

Excel Utility for Bank Branch Audit
[2024 edition]

Legal Updates:


Notification under Sec 31 of IFSCA Act 2019 for modification in provisions of Banking Regulation Act 1949



Export of Onions (under HS Code 07031019) to Bangladesh [Notification No.63]

Amendment in Para 2.39 of the Foreign Trade Policy, 2023 [Notification No.62]

Amendments in Standard Input Output Norms (SION) C-831 for export of Stainless Steel Seamless Tubes/ Pipes (Cold Finished) [Public Notice No.45]



Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.16(NT)]

Seeks to amend notification No. 14/2019-Customs(ADD) dated 25.03.2019, in order to change the name of the producer from 'M/s Mitsui Phenols Singapore Pte. Ltd' to 'M/s INEOS Phenol Singapore Pte. Ltd' pursuant to DGTR recommendation [Notification No.2(ADD)]



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