Weekly Newsletter - May 10, 2023
Latest additions to CAalley:
News Update:
Reference Section:
Exposure Drafts:
Acts & Regulations:
RBI Master Circular / Direction
Reference Section:
From the ICAI:
Legal Updates:
News Update:
Brokers call for Sebi intervention to avert a freeze on bank accounts
Govt expands scope of money laundering law to cover firm's representatives
Bad loan firms call for rule change to open up sector to new players
Goods transport agencies have time till May 31 to opt for GST payment: Govt
Centre asks industry to be ready for EU carbon tax, vows smooth transition
NCLT admits Go First's plea for voluntary insolvency, appoints IRP
GST: Automated returns scrutiny set to roll out
India to push for carbon certificates mutual recognition with EU
Sebi levies Rs 35 lakh fine on 7 entities for non-genuine trades
RBI directs users to pay fee, charges on forex cards in rupees
Finance Ministry Refuses To Act On Insurers Plea In GST Violation Case: Report
Surprise checks one of Goa's plans to boost GST mopup
Ensuring financial stability is a shared responsibility, says FM
Commerce ministry recommends anti-dumping duty on imported optical fibre
Centre to come up with creditor-led insolvency resolution framework: Report
FSDC discusses need for more early warning indicators for economy
Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC
FSDC for special drive to help people get unclaimed deposits in banks
Home buyers likely to get some relief from insolvency proceedings
Common GST audit norms for Centre and states from this fiscal
Over 30,000 I-T pleas for condoning ‘delayed returns’ pending
SC: ‘Profit attribution to India operations of foreign company is question of fact’
India asks European Union to recognise its carbon credit trading scheme
Prickly heat powder is a cosmetic; to face higher tax: SC
Irdai proposes to tighten norms for media campaigns by insurers
GSTN defers implementation of e-invoice reporting time limit by 3 months
Live streaming of court proceedings has flipside, judges need to be trained: CJI Chandrachud
Age factor: Indian companies looking for younger independent directors
IBBI seeks public comments on regulatory framework under insolvency law
Sebi shocker for law firms handling IPOs
Sebi comes out with testing framework for IT systems of stock exchanges
Taxmen to conduct two-month special drive to weed out fake GST registrations, identify masterminds
GSTN advises taxpayers to plan return filing, invoice uploading to avoid last-minute rush
Chartered Accountants Become Reporting Agencies After Tweak In Anti-Money Laundering Law: Report
SC: Homoeopathic hair oil entitled to lower tax rates
'Sebi to tell brokers, funds to limit use of financial influencers'
Dealing with EU's carbon tax is high on the agenda: DGFT
FinMin allows 22 finance cos to undertake Aadhaar-based client verification
Here's how banks are coping with surge in cyber attacks, phishing, fraud
India considering allowing foreign investment in nuclear power industry
CA, CS handling client money in PMLA ambit; FinMin notifies rules
RBI updates KYC instructions on wire transfers for banks, institutions
Additional 1.16% contribution for pension fund to come from employers: Govt
India should introduce carbon-pricing system
CBDC more environment friendly than other cashless modes: RBI report
Supreme Court paves way for prosecution of 2 ex-IL&FS audit firms
Performance linked incentive for MF industry to garner more investments, says SEBI official
Irdai proposes guidelines for remuneration of core team of private insurers
UK watchdog probes Deloitte audit of UK clothing retailer Joules
Federal Reserve warns of credit crunch risk after US bank turmoil
Warren Buffett faults handling of US bank failures
SEC probing First Republic Bank executives for insider trading, Bloomberg reports
KPMG Pledges Cooperation in Senate Probe of Bank Audits
PCAOB enhances transparency of inspection reports
Supreme Court to Hear Whistleblower Retaliation Case with Widespread Implications
US Federal Reserve delivers small rate hike, flags possible pause in tightening cycle
Reference Section:
Professional scepticism requires ‘right’ culture
[Published By Accountancy Age]
May 4, 2023
Exposure Drafts:
The IBBI invites comments from the public on the Regulations notified under the Insolvency and Bankruptcy Code, 2016
[Last date for Comments: December 31, 2023]
Amendments to Insurance Advertisements and Disclosure Regulations
[Last date for comments: May 25, 2023]
Consultation Paper - Technical Actuarial Standards for Pensions
[Last date for Comments: August 4, 2023
Acts & Regulations:
RBI Master Circular / Direction:
Master Direction - Know Your Customer (KYC) Direction, 2016 (Amended as on May 4, 2023)
Reference Section:
From the ICAI:
Deferment of second phase of Peer Review Mandate
Legal Updates:
Inclusion of agents under PMLA
DTAA with Chile [Notification No.24]
Applicability of PMLA on CA/CS/CWA
Advisory: Deferment of Implementation of Time Limit on Reporting Old e-Invoices
Guidelines for Special All-India Drive against fake registrations [Instruction No.1]
Advisory for Timely Filing of GST Returns
Levy of charges on forex prepaid cards/store value cards/travel cards, etc
Formalisation of Informal Micro Enterprises on Udyam Assist Platform
Amendment to the Master Direction (MD) on KYC – Instructions on Wire Transfer
Registration with the FINNET 2.0 system of Financial Intelligence Unit – India (FIU-India)
Additional requirements for the issuers of transition bonds
Exchange rate Notification No. 33/2023-Cus (NT) dated 04.05.2023 [No.33(NT)]
