Daily Newsletter - October 14, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

ICAI Announcement

ICAI Publications - Quality Review Board

Legal Updates:

GST

SEBI

DGFT

 

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News Update:

Indian News:

EPFO issues new rules for employers on digital signatures and e-signatures! How will it impact you?

India less export-oriented, US tariff hike won't impact nation: Fitch

'High-risk' income tax refund claims under scanner

SEBI panel mulls new category of commodity funds

GST notices to foreign airlines ‘regularised’

CGST busts two fake invoice frauds of ₹760 crore

PwC India collaborates with Meta to expand open-source AI solutions

Delhi ITAT allows US LLC to avail of India-US tax treaty benefits

 

International News:

FRC issues AI guidance; IAASB increases commitment to technology

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From the ICAI:

ICAI Announcement:

Issuance of SQM 1, SQM 2

 

ICAI Publications - Quality Review Board:

Guidance on Non-Compliances Observed by Quality Review Board During Quality Reviews (Volume 2) [Published in July 2024]

Part 1: Observations related to Engagement and Quality Control Standards

Part 2: Observations related to CARO and IFC

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Legal Updates:

GST:

Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions

Clarification regarding the scope of “as is / as is, where is basis” mentioned in the GST Circulars issued on the basis of recommendation of the GST Council in its meetings [Circular No. 236]

Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 54th meeting held on 9 th September 2024 at New Delhi [Circular No. 235]

Clarifications regarding applicability of GST on certain services [Circular No. 234]

 

SEBI:

Monitoring Shareholding of Market Infrastructure Institutions (MIIs)

Corrigendum to Circular on Ease of Doing Business in the context of Standard Operating Procedure for payment of “Financial Disincentives” by Market Infrastructure Institutions (MIIs) as a result of Technical Glitch

 

DGFT:

Amendment in import policy of parts of lighter Covered under CTH 9613 of Chapter 96 of Schedule –I (Import Policy) of ITC (HS) 2022 [Notificaiton No.36]

Amendment in Export Policy condition of Cough Syrup under Chapter 30 of Schedule-II (Export Policy) of ITC (HS) 2022 [Notificaiton No.35]

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