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CAalley Newsletter dated November 30, 2022

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Latest additions to CAalley:


Indian News

Budget News

International News

Legal Updates:






Indian News:

Proposal to levy GST on cryptos likely to be put on backburner

India-Australia FTA to come into effect on December 29: Piyush Goyal

Market regulator Sebi plans simplified BRSR, ESG rating regulations

SEBI limits active debt funds’ single-company exposure

Same PAN allotted to two persons, HC asks income tax department to respond

SEBI launches amnesty scheme for 150 brokers

FinMin to meet bank CEOs on December 5 to promote cross-border rupee trade

Need separate ministry for pharma to counter Chinese imports: Industry CEOs

RBI to launch pilot of retail digital rupee on December 1

Small firms may be allowed to merge PF, pension payments

'Financial creditors forego Rs 790 cr under insolvency resolution process'

Fifteenth Finance Commission chief bats for universal health cover


Budget News:

Pre-budget consultations make finance ministry officials no wiser

Crowdsourcing of ideas for Budget 2023-24 to continue till December 10

FM Nirmala Sitharaman concludes pre-budget meetings: Here's what India wants


International News:

PCAOB Finds Deficiencies at 21 Audit Firms

The importance of filling the skills gap in the accountancy sector


Legal Updates:


Manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the CGST Rules, 2017 [Instruction No.4]



Net Settlement of Cash segment and Futures & Options (F&O) segment upon expiry of stock derivatives

Review of timelines for listing of securities issued on Private Placement basis – Chapter VII of the Operational Circular issued under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021

Introduction of credit risk based single issuer limit for investment by mutual fund schemes in debt and money market instruments



Improvements in SWIFT: Integration of ICEGATE with AQCS-ICS (Animal Quarantine and Certification Services-Import Clearance System) effective 01.12.2022 [Circular No.24]

Seeks to amend notification no. 17/2019-Customs (ADD) dated 9th April, 2019 [No.30(ADD)]

Amendment to Instruction No 18/2022-Customs dated 12.08.2022 and 26/2022-Customs dated 06.10.2022 regarding extension of Requirement of Health Certificate accompanied with the import of food consignments [Instruction No.32]