caalley logo

The alley for Indian Chartered Accountants

Advertisement - Tax Litigation Software

Weekly Newsletter - January 31, 2024

Go to Newsletter Archives

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:


Reference Section:


Useful Forms:

MCA eForms

From the ICAI:

ICAI Announcement

Exposure Draft:


International Content:

FASB Reference Material

Legal Updates:

Finance Ministry

Income Tax








Central Excise


News Update:

Indian News:

Private sector banks' Casa deposits ratio see sharper drop than PSBs

RBI halts fresh business at Paytm Payments Bank on supervisory concerns

Sebi reviewing small, midcap MFs' stress tests: Report

Why Economic Survey won't be presented on January 31 this year

Sebi to review norms for penalty disclosure

Companies gear up for litigation on GST anti-profiteering clause

CA gets bail in ₹20,000cr PMLA case tied to Vivo

IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5%

New IMPS fund transfer rules coming soon: Here is all you need to know

India ranks 93 out of 180 countries in corruption perceptions index 2023

New NPS partial withdrawal: Everything you need to know about pension rule

Customs to ease export norms for certain dual-use goods, says DGFT

EPS members having multiple account numbers: EPFO rules to know

Budget 2024: Fintech sector wants government to improve KYC and anti-fraud systems

Sebi chief cautions against extending derivative trade hours

Critical sectors may be asked to have a common crisis management plan

To curb misuse, considering segregating prop, retail trades settlement: Sebi chief

Centre allows woman employees to nominate son, daughter for family pension

Delhi HC upholds validity of anti-profiteering provisions under GST

Shun practice of mentioning caste or religion of litigants in cases: Supreme Court

Here's what to watch out for in Interim Budget ahead of Lok Sabha polls

CA Held For Accusing Firm Of ₹3,000 Crore Fraud

How Deloitte Failed To See Massive $470 Million Scam By Nigerian Firm

Irdai notifies a consolidated regulation on expenses of management

Insurance firms must adhere to best practices for customers: Regulator

Madras high court clarifies on gift voucher GST

Zomato receives RBI approval to operate as online payment aggregator

ITAT allows capital loss of Rs 2,047 crore for Tata Sons

Indian banks urge return to call option valuation for perpetual bonds

NFRA to inspect Big 4, others in 2024 too

Burden to call for curing of defects in tax return on assessing officer: SC

Government allows direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC

Final stage of preparations for Interim Union Budget 2024 commences with Halwa Ceremony

Everything you need to know about the Draft Indian Stamp Bill, 2023

High risk offshore funds have seven months to liquidate India holdings - sources

Govt may announce steps to promote, make NPS more attractive scheme

Sebi allows promoters to offer shares to staff via stock exchange mechanism in OFS

Income tax filers more than double to 77.8 million in 10 years: Govt data

India overtakes Hong Kong as world’s fourth-largest stock market by Market Cap


International News:

IESBA floats stricter ESG reporting standards for review

PwC Reports Jump in Audit Flaws, Following Trend by EY, Deloitte

Global watchdog proposes new ethics code to combat greenwashing

PCAOB levies $590K in fines over Haynie audits

Acts & Regulations:


GST Act(s) and Rule(s) - Bare Law
(January, 2024)

Reference Section:


FAQs on Direct Listing Scheme

Useful Forms:

MCA eForms:

Form for submission of Prospectus with the Registrar [LEAP-1]

From the ICAI:

ICAI Announcement:

Statement on Continuing Professional Education, 2023
[Updated as on January 30, 2024]

Exposure Draft:

IESBA Draft:

Using the Work of an External Expert
[Last date for Comments: April 30, 2024] 

International Content:

FASB Reference Material:

Accounting Standards Update:
Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60)
Accounting for and Disclosure of Crypto Assets

[December 2023]

Legal Updates:

Finance Ministry:

Finance Ministry Notification: The Foreign Exchange Management (Non-Debt Instruments) Amendment Rules, 2024


Income Tax:

ITR 6 for AY 2024-25 notified [Notification No.16]

Notification u/s 10(46) giving retrospective effect to certain earlier notifications [Notification No.14]



Amendment in Notification No. 02/2017-CT dated 19th June, 2017 [CGST Notification No.5]



The Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024



Guidelines on import of gold by Tariff Rate Quota (TRQ) holders under the India-UAE CEPA as notified by–The International Financial Services Centres Authority (IFSCA)

Streamlining of Internal Compliance monitoring function – leveraging use of technology



Streamlining of Regulatory Reporting by Designated Depository Participants (DDPs) and Custodians

Extension of timeline for verification of market rumours by listed entities



The IRDAI (Expenses of Management, including Commission, of Insurers) Regulations, 2024

Denotification of Arbitration Clause



Enlistment of chambers /agencies under Appendix 2E of FTP, 2023 [Public Notice No.38]

Amendment in import policy condition of Glufosinate Technical covered under HS code 38089390 of Chapter 38 of Schedule - I (Import Policy) of ITC (HS) 2022 [Notification No.58]



Seeks to amend Notification No. 57/2017-Customs dated 30.06.2017 so as to change the applicable BCD rate on specified parts/sub-parts of cellular mobile phone [Notification No.9]

Seeks to amend Notification No. 50/2017-Customs dated 30.06.2017 [Notification No.8]

Seeks to amend various Notifications in order to extend the validity of exemptions lapsing on 31st March 2024 up to 30th September, 2024 [Notification No.7]

Seeks to amend Notification No.50/2017-Customs in order to extend the validity of exemptions lapsing on 31st March 2024 up to 30th September, 2024 [Notification No.6]

Non-Levy of Customs Duty on the import of hearables for the period 01.02.2022 to 27.04.2023 [Notification No.8(NT)]

Non-Levy of Customs Duty on the import of wearables for the period 01.02.2022 to 27.04.2023 [Notification No.7(NT)]

Corrigendum dated 23.01.2024 to notification No. 15/2023-Customs(ADD)


Central Excise:

Extension to the applicable date for levy of additional duty on unblended diesel from April 1, 2024 to April 1, 2025 [Notification No.4]



Read more on:
Don't miss an update!
Subscribe to our newsletter