Weekly Newsletter - October 11, 2023
Latest additions to CAalley:
News Update:
Useful Forms:
From the ICAI:
Legal Updates:
News Update:
Non-residents, foreign cos without PAN can open bank a/cs in IFSC-Gift City
LIC says it has got GST notice of Rs 37,000 for paying taxes at lower rate
Mahesh Shah’s CA jailed for ₹6.85 cr fraud
Setting up national, regional GST tribunals has started: Centre tells SC
Supreme Court says restaurants not subject to service tax for take away food orders
GST Council’s view on taxability of corporate guarantee is a mixed bag, say experts
Sebi resolves over 3,700 complaints through SCORES in September
India must be mindful of its reputation for tax terror in hunt for Swiss stash
About 70% taxpayers may shift to new regime: CBDT chairman
RBI to extend PCA supervisory norms to government-owned NBFCs from October 2024
I-T dept collects over Rs 700 crore in TDS from online gaming, crypto trade
RBI orders Bank of Baroda to suspend onboarding customers to its mobile app
IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%
India receives new Swiss bank account details in annual information exchange
Irdai to deploy Bima Vahak in every Gram Panchayat before end of 2024
Commercial Taxes dept detects use of multiple QR codes by hoteliers to evade tax
Central GST audit circle imposes penalty of Rs 18.1 million on Vedanta
GST Council likely to clarify premium on life insurance
GST Council to discuss apportioning compensation cess beyond March 2026
You can soon create your card tokens directly from your bank account
GST authority issues Rs 922 crore show cause notices to Reliance General Insurance
Government: No retrospective tax on online gaming portals and casinos
GST Council lifts tax blockages for rupee trade
GST Council decides to slash rates on millet products, molasses: FM
GST Council approves 'amnesty scheme' for appeal filing till Jan 2024
Ahmedabad: Schools with pending audits to lose grants
Sebi extends dispatching period of hard copies of statements till Sept 2024
AI, multilingual approach important for efficient auditing: CAG
RBI to issue framework for SRO recognition for regulated entities
RBI doubles gold loan limits for urban cooperative banks to Rs 4 lakh
Monetary policy: RBI flags financial stability risks from unsecured loans
RBI MPC keeps repo rate unchanged, signals tight liquidity measures
Non-residents can now e-file Form 10F without PAN
Cairn India gets SAT relief in case vs Sebi
SAT quashes SEBI's order against former NDTV promoters Prannoy Roy, Radhika Roy
Tax dept agrees to refund Rs 190 cr to Vedanta, Delhi HC takes note
GST Council likely to exempt distilled alcohol used to make liquor from tax
India amends insolvency rules in wake of jet leasing dispute
RBI forms an external working group for expected credit loss-based framework
35% of investment advisors still not registered, says SEBI Chairperson
GST panel to clarify on corporate guarantees, some exemptions likely
FM asks company secretaries to rededicate themselves to better corporate governance
Auditors more worried about cybersecurity than AI risks
Grant Thornton's revenues hit $2.4B
US SEC shortens stock disclosure deadline to 5 days
FASB amends codification to align with SEC disclosures
Australia: PwC tax leaks undermined shareholder trust in audits
Battle lines drawn on internal controls as FRC closes consultation on new Corporate Governance Code
PCAOB chief slams auditors for 40% error rate
FRC sets out reporting expectations amidst ongoing economic uncertainty
Audit sector can tackle Big Four dominance through collaboration, experts say
Useful Forms:
eFiling Utility for Form 10BB has been released
ITR 6 utilities for Windows and MAC updated
ITR 5 eFiling Utilities for Windows and MAC have been updated
From the ICAI:
Legal Updates:
Gold Loan – Bullet Repayment – Primary (Urban) Co-operative Banks (UCBs)
SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2023
SEBI (Investment Advisers) (Amendment) Regulations, 2023
Requirement of Base Minimum Capital Deposit for Category 2 Execution Only Platforms
IRDAI (Bima Vahak) Guidelines, 2023
Constitution of Inter-Disciplinary Standing Committee on Cyber Security
Exchange Rate Notification dated October 5, 2023 [No.73(NT)]
