CAalley Newsletter for the week ending on November 23, 2022
Latest additions to CAalley:
News:
Exposure Draft:
Acts & Regulations:
Legal Updates:
News:
GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI
DTAA amendment by Australia likely to come into force from April 1
Bank boards can decide on waiving penalty on minimum balance: Karad
Centre likely to raise EPFO wage threshold
Interest subvention on KCC crop loan to continue in FY23 & FY24: RBI
Sebi bans fresh inflows into AIF schemes making 'priority distribution'
Financial regulators designed in socialist era, must change: Amitabh Kant
T+1 settlement cycle for all F&O stocks from January: Stock exchanges
Banks' overnight SDF balances eligible for LCR computation: RBI
Irdai draft norms do away with specific caps on commissions to agents
CBIC not to file review petition in SC for restoring IGST on ocean freight
CBI arrests I-T official for accepting bribe of Rs 5 lakh in Mandsaur
ITR filing: What is the co-browsing feature on Income Tax website for taxpayers?
India's digital personal-data protection bill puts privacy at risk
Sebi extends deadline for settlement scheme on illiquid stock options cases to Jan 21
Fake certificates of CAs used to ‘set up’ industry, units in Sonepat
Bihar Income Tax Detects ₹ 100 Crore "Unaccounted Income" In 5 Cities
No takers for 6% GST rebate on apple cartons
Supreme Court to set up separate special Bench to hear tax matters
28% GST on online gaming likely; Council to take a final call on valuation
IBBI expected to introduce two key changes to the Insolvency Law: Report
Jeevan Pramaan: Information required to generate digital life certificate
Govt should rethink several clauses of draft data bill: Justice Srikrishna
Google Pay, PhonePe, other UPI payment apps may impose transaction limit
Parekh wants financial sector to do a credit bureau encore on climate risks
Rise in corporate lending signals new investment cycle
As moonlighting gains traction, most employees feel it is unethical: Report
Plea Seeks ‘Pass’, But HC Says ‘Fail’
Social media finfluencers welcome Sebi guidelines
Removing IPC offences from GST Act will be welcome move: Experts
Government moves on anti-subsidy; dumping levies under lens
Chartered accountants are engines and architects of economic empowerment: Lok Sabha Speaker Om Birla
National Pension System: What are the features of NPS Tier-I, Tier-II accounts?
Govt may remove penal offences covered under IPC from GST law
Global accounting standards convergence crucial for capital inflows: Khara
Auditors' timely red flag may have stopped many financial misdoings: NFRA
Govt appoints 10 executive directors to public sector banks for 3 years
India is differently placed, at low risk of recession: RBI Guv
NPCI holds talks with RBI on proposed December 31 volume cap deadline
RBI report flags large-scale variation in property tax collection in states
Crowdsourcing ideas can help auditors meet stakeholder expectations: NFRA chief
Sebi plans to bring new complaints system
Even govt will be held accountable for data breach, says govt source
India scraps export tax on low grade iron ore, some steel intermediates
India may soon have single e-commerce platform
FM urges independence of CAs to preserve integrity of financial statements
NSE amends rules for deletion of merged entities from indices
Securities depository CDSL detects malware in few internal machines
Works under SBM to attract GST if not done for govts, authorities: AAR
Relief to exporters: Centre lowers export obligation for 192 products under key scheme
Data bill may need multiple iterations before becoming practical: experts
India proposes easier cross-border data transfers under new privacy law
Draft personal data protection Bill: Penalties may range up to Rs 250 crore
Govt raises maximum tenure of PSU banks' CEOs to 10 years to retain talent
India's forex reserves rise at fastest pace since August 2021: RBI data
CBI arrests Gujarat CGST officer for accepting bribe
Sebi notifies rules on dividend, redemption proceeds to mutual fund unitholders
EPFO to appoint actuary firm for its pension and insurance schemes
Sebi proposes changes to buyback norms
New guideline for financial influencers under works, says Sebi
Windfall profit tax on crude oil hiked, levy on export of diesel cut
PSBs' asset quality challenges to pull down FY23 banking outlook
RBI looks for fault lines due to rate stress
NFRA to carry out conduct audit quality inspections of Big 4 network firms
Urgently call GST Council meeting, Amit Mitra writes to Sitharaman
CGST arrests proprietor for illegally availing fake input tax credit of Rs 21 cr
New roadmap likely for capital gains taxation in Budget 2023-24
Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman
Budget 2023: Why a decision on cutting taxes won't be easy for Nirmala Sitharaman
CII bats for lower income tax rates, paring 28% GST on consumer durables
Indian govt should stick to fiscal deficit target for this year - industry body
Sitharaman to meet state FMs for pre-budget consultation on Friday
Union Budget 2023: Why India's growth will slowdown in the next two years
Budget 2023-24: Nirmala Sitharaman chairs first consultation with industry leaders, experts
Decriminalise GST law, slash personal income tax rates in Budget: CII to government
New year, new challenges: Preparing for sustainability disclosures
IFRS Foundation proposes taxonomy changes to enhance data and improve usability
PCAOB Proposes a New Quality Control Standard
Sovereign investors favour U.S., India as top 2022 investment markets, study says
Committed to working quickly on UK-India free trade agreement: Rishi Sunak
Rwanda: Over 20 audit firms suspended
U.S. watchdog gained "good access" to audits of Chinese firms -sources
ECB warns of financial stability risks in euro area, warns of recession
Most auditors pessimistic about economy: CAQ
Exposure Drafts:
Consultation Paper on Review of SEBI (Buyback of Securities) Regulations, 2018
[Last date for Comments: December 1, 2022]
IRDAI (EOM of Insurers Transacting Health & General Insurance Business) Regulations, 2022
[Last date for Comments: December 14, 2022 to be sent to
IRDAI (EOM of Insurers Transacting Life Ins Business) Regulations, 2022
[Last date for Comments: December 14, 2022 to be sent to
IRDAI (Payment of Commission) Regulations, 2022
[Last date for Comments: December 14, 2022 to be sent to
A Firm's System of Quality Control and Other Proposed Amendments to PCAOB Standards, Rules, and Forms
Last date for Comments: February 1, 2023]
Acts & Regulations:
Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2022 [Dated November 15, 2022]
Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2022 [Dated November 15, 2022]
Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2022 [Dated November 15, 2022]
Legal Updates:
The Central Goods and Services Tax (Fourth Amendment) Rules, 2022 [No.24]
Seeks to empower the CCI to handle anti-profiteering cases under CGST Act, 2017 [No.23]
The Companies (Registered Valuers and Valuation) Amendment Rules, 2022
Schemes of AIFs which have adopted priority in distribution among investors
FAQs for Grant of Registration As Alternative Investment Fund (AIF)
Basel III Framework on Liquidity Standards – Standing Deposit Facility
Seeks to give exemption from BCD for the motor car if imported by the Governor of the state [No.57]
Exchange rate Notification No. 97/2022-Cus (NT) dated 17.11.2022 [No.97(NT)]
