Daily Newsletter - October 9, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Legal Updates:

Income Tax

SEBI

IRDAI

News Update:

Indian News:

Commercial Taxes dept detects use of multiple QR codes by hoteliers to evade tax

Central GST audit circle imposes penalty of Rs 18.1 million on Vedanta

GST Council likely to clarify premium on life insurance

GST Council to discuss apportioning compensation cess beyond March 2026

You can soon create your card tokens directly from your bank account

GST authority issues Rs 922 crore show cause notices to Reliance General Insurance

Government: No retrospective tax on online gaming portals and casinos

GST Council lifts tax blockages for rupee trade

GST Council: 18% tax on parent company’s guarantee to subsidiary, waives tax for director’s personal guarantees

GST Council decides to slash rates on millet products, molasses: FM

GST Council approves 'amnesty scheme' for appeal filing till Jan 2024

Ahmedabad: Schools with pending audits to lose grants

International News:

Australia: PwC tax leaks undermined shareholder trust in audits

Battle lines drawn on internal controls as FRC closes consultation on new Corporate Governance Code

Legal Updates:

Income Tax:

Clarification on details to be provided in Form 10B / 10BB regarding 'substantial contribution' [Circular No.17]

SEBI:

Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

IRDAI:

IRDAI (Bima Vahak) Guidelines, 2023

Amendment to Procedure for Implementation of Section 12A of ‘The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 (WMD Act)

Constitution of Inter-Disciplinary Standing Committee on Cyber Security