Weekly Newsletter - September 18, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
From the ICAI:
Useful Forms:
Legal Updates:
News Update:
Sitharaman launches NPS Vatsalya, parents can open pension a/c for children
Now, withdraw up to Rs 1 lakh from your PF, even within 6 months of joining
Fears over proposed revamp of audit standards misplaced: NFRA
Tupperware Brands files for bankruptcy as company seeks 'strategic alternatives'
AI for MSMEs: Bridging the gap between technology and business goals is important
Big defaulters may bypass courts to let banks win
IBBI chief asks insolvency professionals to be transparent to improve bids
Dispute over food GST: Gujarat High Court rules in company's favour
NFRA issues revised audit standards for public input to align with ISA 600
No tax rate reductions for old regime, clarifies Nirmala Sitharaman
Rs 1 cr penalty on HDFC Bank: How to protect yourself from recovery agents
Foreign banks in regulatory standoff seek RBI relief on trading rules
PM launches IFSCA’s Single Window IT System
Inter-dept panel may be set up to ensure compliance by online gaming platforms
GST Council forms GoM to review tax rate on insurance; report by Oct 30
Record Rs 81,875 crore GST evasion detected in online gaming in FY24
RBI plans to revamp currency management infra to cater to future cash needs
Byju's bankruptcy ruling in US comes as a surprise for Indian officials
RBI imposes penalty on BNP Paribas, 3 others for compliance lapses
Postal dept to assist pensioners in submitting digital life certificate
4 GST officials held for conducting fake raid, extorting Rs 1.5 crore from Bengaluru businessman
UPI users can now send Rs 5 lakh for some transactions
RBI Guv Shaktikanta Das signals no policy change despite dip in inflation
CCI investigation finds Amazon, Walmart's Flipkart breached antitrust laws
SC to decide fate of DRI tax notices going back 18 years
Big Five take corrective steps after NFRA’s inspection
Sebi considers new stricter rules to curb risks as tiny IPOs boom
Finance ministry allows GST deductions to dealers on demo vehicles
Centre brings elders over 70 years under ambit of Ayushman Bharat scheme
Time for fintech NBFCs to revisit business models, says India Ratings
Sebi tweaks margin trading facilities' framework to ease collateral burden
PwC Laying Off 1,800 Employees in First Formal Cuts Since 2009
[US] Audit teams missed risks of material misstatement by banks
Exposure Drafts:
Proposed Revision in SA 600 - Special Considerations - Audit of Group Financial Statements (including The Work of Component Auditors)
[Last date for Comments: October 30, 2024]
Consultation Paper on proposed revised ‘Framework for undertaking Global/Regional Corporate Treasury Centres activities by Finance Company/Unit in IFSC’
[Last date for Comments: October 2, 2024]
From the ICAI:
ICAI Publications - Corporate Social Responsibility:
CSR: BIS Standard on IS 26001 2020
Useful Forms:
ITR 6 - Excel Utility has been updated
Legal Updates:
Advisory: Draft Manual on Invoice Management System
Advisory: Re-opening of Reporting ITC Reversal Opening Balance
The Foreign Exchange (Compounding Proceedings) Rules, 2000
Enabling T+2 trading of Bonus shares where T is the record date
Reporting by Foreign Venture Capital Investors
Amendments under Interest Equalisation Scheme [Trade Notice No.17]
Amendment in Export policy conditions of onions [Notification No.28]
Extending export related benefits for exports made through courier mode [Circular No.15]
