Weekly Newsletter - November 22, 2023

Go to Newsletter Archives

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

RBI Master Directions

Useful Forms:

Income Tax eFiling Utilities

From the ICAI:

Exposure Draft

Quality Review Board

Legal Updates:

Income Tax

GST

DGFT

Customs

---

  

News Update:

Indian News:

Pension is a basic entitlement and its payment cannot be denied: HC

I-T department finds Rs 10,000 crore tax evasion by online sellers on Instagram, Facebook

Faceless scrutiny assessment under GST may take some time: GSTN official

RBI Governor Shaktikanta Das asks NBFC-MFIs to be judicious in using flexibility on interest rates

Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das

GST council's role only recommendatory: High Court

Govt cancels IDBI Bank asset valuer appointing bid, fresh RFP to be issued

CGST Delhi East busts a syndicate of 48 fake firms availing fraudulent ITC of over ₹199 crores in “Operation Clean Sweep”, 3 arrested

'KPMG expands operations in Kolkata, to double workforce by FY25'

ED issues notice to Byju's for forex violations of Rs 9000 crore: Reports

Sebi chair Buch cautions investors against heavy F&O bets

Tax department sets strict targets to resolve appeals: sources

Ten-year re-opening period for I-T assessments to apply only if escaped income above Rs 50 lakh: Delhi high court

₹600 cr intercepted by India’s cyber fraud reporting system: FATF report

Finance ministry asks PSU banks to take measures to bolster cybersecurity

No tax notice to legal heir: ITAT quashes order on dead person

Sebi eases rule for physical securities' holders without PAN, KYC details

RBI permits banks to open additional current account for export proceeds

Faceless tax assessment creating chaos and legal log jam, alleges industry

Delisting norms to become simpler: SEBI

  

International News:

Australia: EY admits staffer drafted papers for alleged tax exploitation partner

Balancing the mind ledger: Mental health realities in accounting

Finance May Go Slower On Generative AI Adoption

---

Acts & Regulations:

RBI Master Directions:

Recently issued RBI Master Directions

---

Useful Forms:

Income Tax eFiling Utilities:

Updated: Common offline utility for Form 3CA-3CD and 3CB-3CD

---

From the ICAI:

Exposure Draft:

ICAI Exposure Draft of Standards on Auditing for Limited Liability Partnerships
[Last date for comments: January 6, 2024]

  

Quality Review Board:

ICAI Report: QRB Report on Audit Quality Review

---

Legal Updates:

Income Tax:

Format, Procedure and Guidelines for submission of Statement of Financial Transaction (SFT) for Mutual Fund Transactions by Registrar & Share Transfer Agent [Corrigendum to Notification No. 4 of 2021]

Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Depository Transactions​ [Corrigendum to Notification No.3 of 2021]

  

GST:

Seeks to amend Notification No. 27/2022 dated 26.12.2022 to notify biometric-based Aadhaar authentication for GST registration in the State of Andhra Pradesh [Notification No.54-Central Tax]

Comprehensive Guide and Instructions for Direct API Integration with Any of the 6 IRPs for E-Invoice Reporting

  

DGFT:

Amendment in import policy condition of Gold under HS Code 71081200 under Chapter 71 of Schedule –I(Import Policy) of ITC (HS) 2022 [Notification No.44]

  

Customs:

Seeks to further amend notification No. 47/2021-Customs (ADD), dated 26th August, 2021, imposing Anti-dumping Duty on imports of "Natural mica-based pearl industrial pigments excluding cosmetic grade" from China PR, to modify the existing duty table [Notification No.13(ADD)]

Seeks to continue levy of anti-dumping duty on Synthetic Grade Zeolite 4A (Detergent Grade) from China PR [Notification No.12(ADD)]

Imposition of anti-dumping duty on toughened glass for home appliances imported from China PR for a period of 5 years [[Notification No.11(ADD)]

---