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Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

GST FAQs

IBBI Draft

ICAI Standard on Auditing

Legal Updates

  • Income Tax
  • GST
  • MCA
  • IBBI
  • SEBI
  • IRDA
  • RBI
  • DGFT

 


Indian News:

IBC committee wants wider pool of bidders for insolvent companies

Filing stock-related complaints against erring companies gets easier

Point-by-point analysis of Sebi's new corporate governance framework

Sebi releases list of nearly 2,200 entities for not paying penalty

Ensure subsidiaries, joint ventures too pay dividend: FinMin to PSEs

CBDT to issue notices under Operation Clean Money by May 31

CBDT signs 14 unilateral APAs, 2 bilateral APAs

Disqualified directors: Firms get more time to fall in line

Govt levies 10% import duty on key smartphone parts to push Make in India

In a big breather, RBI lets banks spread bond losses in 4 quarters

E-way bill off to a smooth start, says Hasmukh Adhia

Taxman nudged banks to deposit TDS by March 31

Income tax April 1 I-T identifies 100 fake cos in Indore region

Maharashtra sees 26 per cent revenue jump after GST kicks in

IRDAI asks reinsurers to pass on GST benefit

Over 1.7 lakh e-way bills generated on launch day; real load test tomorrow

Govt extends deadline for Condonation of Delay Scheme

CBEC renamed as CBIC; Twitter handle updated

CVC to check PAN and Aadhaar routes to detect bureaucratic corruption

Ind AS 115 will help in ‘improved disclosures’: ICAI

Govt should restore people's faith in banking system: ICICI whistleblower

Ind AS companies: Due date for XBRL filing extended to April 30

E-way bill validity to begin from the date transporter fills up details: FinMin

E-way bill mandatory from Sunday: Karnataka an exception to notify inter, intra-state movement

Number of delisted companies on the rise; bourses may see more exits

GST Fallout: CBEC clears Rs 3,000 crore refunds to exporters

DIPP pulls up subsidiaries posing as start-ups

Here're the key tax changes that will come into effect from April 1, 2018

Registration norms for insolvency professionals get a makeover

RBI changes methodology for bond valuation to check manipulation

Bankers' union demand roll back of IRAC norms

Govt notifies new accounting standard that comes into effect on April 1

Tax-free gratuity ceiling raised to Rs 20 lakh for private sector employees

Frauds cost Rs 18,170 cr to banking sector in FY17: Report

Investors can soon submit grievances directly to cos: Sebi

GST Council okays exempting 24 insurance schemes for reinsurance

Sebi board strengthens corporate governance norms

Deadline for filing April-June GSTR-1 announced: Check out the dates

24 businessmen shamed publicly for Rs 490 crore Income Tax default; most of them from Ahmedabad, Kolkata

IBBI notifies amendments to insolvency code; applicable from Apr 1

How to register for e-way bill generation; Hurry up! Only 3 days left for roll-out

Get set for E-way bill: Adhia to industry

CBEC extends refund facilitation fortnight till March 31

I wanted a simpler GST: CEA Arvind Subramanian

SEBI to allow ‘physical settlement’ in derivatives

New portal for pensioners launched

IBC panel seeks to draw more bidders, cut losses

 

International News:

GASB offers guidance on debt disclosures, direct borrowings and placements

IASB finishes revising conceptual framework

 


GST FAQs:

FAQs on E-Way Bill System

 


IBBI Draft:

Regulation of fee payable to insolvency professionals and other process costs under Corporate Insolvency Resolution Process
[Last date for comments: April 20, 2018]

 


ICAI Standard on Auditing:

SA 299 (Revised), “Joint Audit of Financial Statements”

 


Legal Updates

Income Tax:

Central Action Plan for the First Quarter i.e. (April, 2018 to June, 2018) of the FY 2018-19

The Payment of Gratuity (Amendment) Act, 2018

The Finance Act, 2018

Processing of returns u/s 143(1) which are pushed to the AO by the CPC

CBDT extends date for linking of Aadhaar with PAN [Press Release]

 

GST:

Setting up of an IT Grievance Redressal Mechanism to address the grievances of taxpayers due to technical glitches on GST Portal [Circular No.39]

E-way Bill in Union Territory of Lakshadweep [No.6/2018-Union Territory Tax]

E-way Bill in Union Territory of Daman and Diu [No.5/2018-Union Territory Tax]

E-way Bill in Union Territory of Dadra and Nagar Haveli [No.4/2018-Union Territory Tax]

E-way Bill in Union Territory of Chandigarh [No.3/2018-Union Territory Tax]

E-way Bill in Union Territory of Andaman and Nicobar Islands [No.2/2018-Union Territory Tax]

Extension of date for submitting the statement in FORM GST TRAN-2 under rule 117(4)(b)(iii) of the Central Goods and Service Tax Rules, 2017 [Order No.1]

Extension of due date for filing of application for refund under section 55 by notified agencies [No.20/2018-Central Tax]

Extension of date for filing the return in FORM GSTR-6 [No.19/2018-Central Tax]

Seeks to extend the due dates for the furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than Rs.1.5 crores [No.18/2018-Central Tax]

Seeks to prescribe the due date for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto Rs.1.5 crore [No.17/2018-Central Tax]

 

MCA:

Condonation of Delay Scheme [Circular No.2]

Relaxation of additional fees and extension of last date of filing of AOC-4 XBRL E-Forms using Ind AS under the Companies Act, 2013 [Circular No.1]

The Companies (Indian Accounting Standards) Amendment Rules, 2018

 

IBBI:

Report of The Insolvency Law Committee, March 2018

IBBI (Insolvency Professionals) (Amendment) Regulations, 2018 (Amended upto 01.04.2018)

IBBI (Liquidation Process) (Amendment) Regulations, 2018 (Amended upto 01.04.2018)

IBBI (Employees' Service) (Amendment) Regulations, 2018 (Amended upto 26.03.2018)

IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2018 (Amended upto 01.04.2018)

IBBI (Information Utilities) (Amendment) Regulations, 2018 (Amended upto 01.04.2018)

Rendering of Valuation Services without a Certificate of Registration under the Companies (Registered Valuers and Valuation) Rules, 2017 [Press Release]

 

SEBI:

Orders per second limit and requirement of empanelment of system auditors for algorithmic trading in commodity derivatives

Investor Grievance Redress Mechanism - New Policy Measures

Clarifications with respect to circular on “Specifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008

 

IRDA:

Exemption of reinsurance schemes, in respect of specified insurance schemes

Premium Rates for Motor Third Party Liability Insurance Cover for FY2018-19

 

RBI:

Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)

Taking over of valuation of Government Securities (G-Sec) by Financial Benchmark India Pvt. Ltd. (FBIL) - valuation of portfolios

Special Clearing operations on March 31, 2018

Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)

 

DGFT:

Amendment inPara 2.54 of the Handbook of Procedures, 2015-2020 [Public Notice No.70]

Insertion of Policy conditin under Chapter 41, 42 and 43 of ITC (HS), 2017 - Schedule -1 (Import Policy) [No.59]

Amendment in Para 2.31 of Foreign Trade Policy, 2015-2020 [No.58]