Daily Newsletter - May 1, 2023
Latest additions to CAalley:
News Update:
Acts & Regulations:
Exposure Draft:
Legal Updates:
News Update:
GST-registered consumers can approach AAR bench
New GST rules in effect from today for businesses with turnover of over ₹100 crore. Details here
State-run banks likely to launch special drive to recover written-off loans
FinMin wants PSBs to enhance recovery rate from written-off accounts to 40%
As risks loom, RBI asks banks not to increase exposure to unsecured loans
New Sebi rule from today: A ban that’s a boon in many ways
Tax notices to MNCs over salaries paid to expat employees
Start automated GST scrutiny, FM Sitharaman tells CBIC
Irdai asks insurance cos to lay down social media guidelines for employees
Taxmen cannot ignore ‘brazen misuse’ of laws: Finance minister Nirmala Sitharaman
Startups oppose separate law on digital markets
Govt. to revamp patenting process: Sanjeev Sanyal
India-UAE agreement: Easier norms for gold import on the anvil
Regulators seize First Republic Bank, sell to JPMorgan Chase
India, Russia to explore possibility of accepting RuPay and Mir cards
IAASB proposes revisions to going concern standard
Acts & Regulations:
Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on April 28, 2023)
Exposure Draft:
Proposed International Standard on Auditing 570 (Revised 202X)
Going Concern and Proposed Conforming and Consequential Amendments to Other ISAs
[Last date for Comments: August 24, 2023]
Legal Updates:
Amendment to the Master Direction (MD) on KYC
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.32(NT)]
