Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

FASB Exposure Drafts

RBI Draft

MCA eForms

Income Tax Return eFiling Utilities

IBBI Forms

ICAI Announcement

Legal Updates

  • GST
  • MCA
  • RBI
  • Customs
  • DGFT


Indian News:

Govt. eases norms for partial withdrawal under pension scheme

States directed to implement e-way bill by June 1

199 companies face penalty for non-compliance of CSR norms

'NFRA authorised to impose penalties on audit firms'

FinMin to Banks: collect passport details of big borrowers in 45 days

RBI set to give govt Rs 100 billion interim dividend, say sources

I-T Dept probes Rs 10-bn tax refund fraud by govt and PSU employees

Banks may have to take 60% haircut in large NPA cases under IBC: CRISIL

RBI to infuse Rs 1 trn into banking system via special auctions in March

RBI slaps Rs 3 cr penalty on Axis Bank, 2 cr on IOB

‘GST has failed to bring transparency’

Rent on electricity meter comes under GST, move may draw criticism

Another scam in making? IT sleuths find 447 companies failed to submit TDS worth Rs 3,200 crore

FinMin sets up panel on fintech sector

Glimmer of hope: RBI to bring interoperability for e-wallets within the promised time frame

Post NFRA formation, what is ICAI’s role?

Banks write off NPAs worth Rs 516 cr of 38 wilful defaulters

Sebi to push for urgent disclosure by listed firms

RBI gets tough on MNC banks, asks them to create sub-targets to meet PSL norms

'Government Dilutes RBI's Power To Select Auditors For Bank Audit'

Infosys, I-T officials and fake CA under CBI scanner for allegedly filing forged 'revised' tax returns

NITI Aayog panel recommends tax cuts on gold, revamping monetisation scheme

GST official held for graft in Jalandhar

Govt clears Bill to deal with the likes of Nirav Modi; NFRA to regulate CAs

2 businessmen held under CGST Act

PNB auditor conspired with Nirav Modi in perpetrating $2-bn fraud: CBI

Rekindle credibility, ICAI chief tells chartered accounts

Cabinet nod for National Financial Reporting Authority

Finance ministry looks to consolidate overseas operations of PSU banks

RBI lifts per-borrower loan cap for MSMEs

RBI allows higher position limit for FPIs in interest rate futures

Income tax department sends notices to investors over tax treaty gains

Early recall of AT-1 bonds could see some PSBs falter at Tier-1 capital level: ICRA


International News:

FASB proposes changes in accounting for cloud computing costs

Auditor Rotation Rules Miss Their Mark


FASB Exposure Drafts:

Proposed ASU: Intangibles - Goodwill and Other - Internal - Use Software (Subtopic 350-40)
[Last date for comments: April 30, 2018]

Proposed ASU: Derivatives and Hedging (Topic 815)
[Last date for comments: March 30, 2018]


RBI Draft:

Directions on Repurchase transactions (Repo) (Reserve Bank) 2018 under section 45W of the RBI Act, 1934
[Last date for comments: March 16, 2018]


MCA eForms:

Updated till March 6, 2018


Income Tax Return eFiling Utilities:

Updated on March 6, 2018


IBBI Forms:

Insolvency and Bankruptcy Board of India Forms have been added to the "Useful Forms" section


ICAI Announcement:

Advisory for the Members regarding Allocation of Work among the Joint Auditors in case of Bank Audits [Published on March 6, 2018]


Legal Updates


Clarification regarding taxable services provided by the member of the Joint Venture(JV) to the JV and vice versa and inter se between the members of the JV [Circular No.35]

Clarification regarding GST in respect of certain services [Circular No.34]



The Companies (Accounts) Amendment Rules, 2018



Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs)

Review of Currency Distribution & Exchange Scheme (CDES)

Priority Sector Lending – Targets and Classification



Seeks to amend notification No. 50/2017 Customs dated 30.06.2017 [No.29]

Seeks to increase BCD tariff rate on Chickpeas, [Tariff item 0713 20 0] from 40% to 60% by invoking section 8A (1) of the Customs Tariff Act, 1975 [No.28]

Exchange Rates w.e.f. March 2, 2018 [No.18(NT)]

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver [No.17(NT)]



Amendments in Appendix 4J of Hand Book of Procedures 2015-20 [Public Notice No.64]