Daily Newsletter - October 11, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Useful Forms:

ITR eFiling Utilities

Legal Updates:

Income Tax

GST

MCA

IBBI

IFSCA

RBI

SEBI

DGFT

 

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News Update:

Indian News:

Over 40 per cent of ICAI probes reveal CA misconduct

Star Health breach: Beware, your Aadhaar, PAN, password leak risk fraud

Shirdi’s Saibaba Sansthan eligible for income tax exemption on anonymous donations: HC

Two CGST officers, middleman held for taking 1.25L bribe

RBI asks asset reconstruction firms to standardise credit bureau reporting

Direct payout of securities: Sebi extends deadline to November 11

RBI asks banks to use info from all relevant sources for risk assessment

NFRA slaps penalty of Rs 2 crore on Coffee Day auditors, bars CAs

FEMA violation: ED slaps ₹2.1K cr penalty on NBFC running loan app with Chinese links

New GST rules force tenants to bear 18% tax burden

GST relief for foreign airlines, academic institutions

New GST amnesty scheme notified: Waiver of interest and penalty on GST tax demand for eligible taxpayers to be effective from November 1, 2024

Sebi calls for stricter review of AIF investors

Nearly 50,000 internship opportunities posted on portal: MCA officials

Carbon tax proposed by EU unilateral, arbitrary to hurt India's export: FM Sitharaman

 

International News:

AI promises more efficiency but won’t replace auditors

KPMG backs 120-credit hour alternative CPA licensure option

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Useful Forms:

ITR eFiling Utilities:

ITR 5 - Windows & MAC Utility have been updated

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Legal Updates:

Income Tax:

Extension of due date for filing audit report in Form No.10B/10BB for AY 2023-24 [Order]

 

GST:

Seeks to amend Notification No. 50/2018-Central Tax dated 13.09.2018 [CGST Notification No.25]

Seeks to amend Notification No. 5/2017-Central Tax dated 19.06.2017 [CGST Notification No.24]

  

Seeks to amend Notification No 13/2017-Central Tax (Rate) dated 28.06.2017 [Notification No.09/2024-Central Tax (Rate)]

Seeks to amend Notification No 12/2017-Central Tax (Rate) dated 28.06.2017 [Notification No.08/2024-Central Tax (Rate)]

Seeks to amend Notification No 11/2017-Central Tax (Rate) dated 28.06.2017 [Notification No.07/2024-Central Tax (Rate)]

Seeks to amend Notification No. 4/2017- Central Tax (Rate) dated 28.06.2017 [Notification No.06/2024-Central Tax (Rate)]

Seeks to amend Notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 [Notification No.05/2024-Central Tax (Rate)]

  

Seeks to amend Notification No.10/2017-Integrated Tax (Rate) dated 28.06.2017 [Notification No.09/2024-Integrated Tax (Rate)]

Seeks to amend Notification No.9/2017-Integrated Tax (Rate) dated 28.06.2017 [Notification No.08/2024-Integrated Tax (Rate)]

Seeks to amend Notification No.8/2017-Integrated Tax (Rate) dated 28.06.2017 [Notification No.07/2024-Integrated Tax (Rate)]

Seeks to amend Notification No. 4/2017- Integrated Tax (Rate) dated 28.06.2017 [Notification No.06/2024-Integrated Tax (Rate)]

Seeks to amend Notification No. 1/2017- Integrated Tax (Rate) dated 28.06.2017 [Notification No.05/2024-Integrated Tax (Rate)]

  

Seeks to amend Notification No.13/2017-Union Territory Tax (Rate) dated 28.06.2017 [Notification No.09/2024-Union territory Tax (Rate)]

Seeks to amend Notification No.12/2017-Union Territory Tax (Rate) dated 28.06.2017 [Notification No.08/2024-Union territory Tax (Rate)]

Seeks to amend Notification No.11/2017-Union Territory Tax (Rate) dated 28.06.2017 [Notification No.07/2024-Union territory Tax (Rate)]

Seeks to amend Notification No. 4/2017- Union Territory Tax (Rate) dated 28.06.2017 [Notification No.06/2024-Union territory Tax (Rate)]

Seeks to amend Notification No. 1/2017- Union Territory Tax (Rate) dated 28.06.2017 [Notification No.05/2024-Union territory Tax (Rate)]

 

MCA:

The Companies (Adjudication of Penalties) Second Amendment Rules, 2024

 

IBBI:

Extension of time for filing Forms to monitor voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder

Extension of time for filing Forms to monitor liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder

 

IFSCA:

Directions to IBUs for operations of the Foreign Currency Accounts (FCA) of Indian resident individuals opened under the Liberalised Remittance Scheme (LRS)

 

RBI:

Facilitating accessibility to digital payment systems for Persons with Disabilities - Guidelines

Submission of information to Credit Information Companies (CICs) by ARCs

Implementation of Credit Information Reporting Mechanism subsequent to cancellation of licence or Certificate of Registration

 

SEBI:

Change in timing for securities payout in the Activity schedule for T+1 Rolling Settlement

Extension of timeline for implementation of SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 dated June 05, 2024

 

DGFT:

Applicability of Para 4.08 (ii) of HBP in case of inputs being procured by Advance Authorisation Holders from Units located in SEZ [Circular No.8]

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