Weekly Newsletter - October 2, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
Acts & Regulations:
Reference Section:
From the ICAI:
Useful Forms:
Legal Updates:
News Update:
Mere issuance of SCN not enough to cancel GST registration, rules Delhi HC
Explained: New rules for same-day stock settlement and impact on investors
NCLT president seeks more manpower to speed up bankruptcy cases
Govt notifies Apr 1, 2025, as sunset date for GST anti-profiteering
Market regulator Sebi rolls out 6 measures to rein in F&O speculation
Govt announces 3 new external members ahead of key RBI MPC meet
No new anti-profiteering investigations under GST from April 1, 2025
Life cover policyholders stand to gain as new surrender value norms kick in from Oct 1
Sebi slaps Rs 12 lakh fine on NSE Data And Analytics
Small savings rates unchanged for Oct-Dec quarter: PPF gives 7.1 % interest
RBI urges gold loan firms to monitor portfolios following lapses
Sebi board gives approval for new asset class, MF Lite regulations
ICAI establishes group to address stress management following EY employee’s death
After Sebi, Parliament committee to conduct CCI's performance review
I-T raids on loan agent raise kickback concerns
Govt considering foreign investment regulatory mechanism for FDI supervision
Sebi plans half-yearly disclosures for direct plan mutual fund schemes
SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv
All GST apex tribunals by November-end
GST Council forms GoM on compensation cess; report expected by Dec 31
Sudden impact: Big 4 audit firms set new terms of engagement after EY worker's death
NSE defers T+0 rolling settlement cycle until further notice
Debt securities listing time cut to T+3
Sebi likely to introduce MF-Lite regulations for passive funds: Madhabi Puri Buch
IBBI amends rules to enhance creditor representation in insolvency process
India climbs to 39th rank in the Global Innovation Index 2024
Sebi amends rules, introduces fixed price process for voluntary delisting
GSTN clarifies on validity of notices, orders without digital signature of taxmen
GoM on GST on health, life insurance premium to meet on October 19
Sebi set to tighten F&O rules to rein in speculative trading
CAG plans to develop its own AI for fast writing of audit reports
I-T dept accuses Hinduja Global Solutions of Rs 2,500 crore tax evasion
All GST apex tribunals by November-end
PCAOB inspectors offer advice in areas of risk
SEC amended PCAOB Rule 3502 to raise the bar on ethics rules
SEC charges 12 companies with flawed record-keeping, imposes $88M in fines
Thomson Reuters Teams Up with Validis and Unveils Suite of AI-Powered Solutions For Auditors
PCAOB Doles Out $165,000 in Total Fines to Five Audit Firms
FASB proposes hedge accounting standards update
Exposure Drafts:
Exposure Draft of Amendments to the Classification and Measurement of Financial Instruments: Amendments to Ind AS 109 and Ind AS 107
[Last date for Comments: October 23, 2024]
Exposure Draft of Annual Improvements to Ind AS (2024) - Corresponding to Annual Improvements to IFRS Standards Volume 11 issued by the IASB
[Last date for Comments: October 23, 2024]
Consultation paper on draft circular for “Disclosure of expenses, half yearly returns, yield and risk-o-meter of schemes of Mutual Funds
[Last date for Comments: October 18, 2024]
Consultation paper on the proposal to exempt certain transactions from trading window restrictions
[Last date for Comments: October 17, 2024]
Consultation Paper on Principle-Based Guidelines on Cyber Security and Cyber Resilience for all Regulated Entities (REs) in IFSC
[Last date for Comments: October 19, 2024]
Proposed Accounting Standards Update
Derivatives and Hedging (Topic 815)
Hedge Accounting Improvements
[Last date for Comments: November 25, 2024]
Acts & Regulations:
The Digital Personal Data Protection Act, 2023
The India International Arbitration Centre (Composition and functions of the Committees) Rules, 2023
Reference Section:
One Person Company under the Companies Act, 2013
[Submitted by Kanakkupillai, Chennai]
Indian Revenue Service
Civil List 2024
[Published by Income Tax Department]
From the ICAI:
Insolvency & Bankruptcy [New addition]
Useful Forms:
Excel Utilities for ITR 1 to ITR 7 have been updated
Legal Updates:
Advisory: GSTN e-Services App to Replace e-Invoice QR Code Verifier App Shortly
Notification under Section 171 of CGST Act to provide for the sunset date. [CGST Notification No.19]
Advisory: Restoration of GST Returns data on Portal
Advisory on issuance of Notices/Orders without digital signatures of the issuing authorities
Master Circular for Credit Rating Agencies
Directions - Compounding of Contraventions under FEMA, 1999
SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2024
Streamlining of Halal Certification Process for Meat and Meat Products [Notification No.34]
Extension of RoDTEP scheme for exports made from DTA Units and AA/EOU/SEZ Units [Notification No.32]
Amendment in Export Policy of Non-Basmati White rice under HS Code 1006 30 90 [Notification No.31]
Seeks to amend Export Duty on Certain Varieties of rice [Notification No.44]
