Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

Income Tax Return eFiling Utilities

GST Forms

GST Rules

ICAI Publications

ICAI Exposure Drafts

IASB Exposure Draft

Legal Updates

  • Income Tax
  • GST
  • IBBI
  • SEBI
  • RBI
  • Customs


Indian News:

Time ripe to consider ‘pre-packs’ under insolvency: NCLT President

E-way bill rollout on Wednesday in four states: Centre

After e-mail, tax dept saves Rs 977 crore in five years on postage cost

FinMin proposal to convert GSTN into govt company raises eyebrows

Sebi mulls biometric check for stock trading via mobile applications

Sebi proposed as regulator for spot commodity exchanges for gold, metals

‘Duty free’ shopping at Delhi international airport to become costlier!

RBI Circular Barring Banking Service For Crypto-Currencies Challenged In Delhi HC

IMF unveils new corruption policy for member states

New system to plug GST leaks soon: Adhia

Aadhaar linking to bank accounts mandatory under KYC norms, says RBI

Nokia tax dispute resolved, may now sell Chennai plant

MCA zeroes in on 225,000 more suspected shell companies

Sebi proposes to cut listing time for public issue of debt securities

Sebi scans Facebook 'likes'; finds evidence in insider trading case

Good news for traders! Single-page GST filing system to be ready in 3-6 months, confirms Finance Secretary

‘Don’t eliminate promoters fully from IBC process’

I-T Dept warning to salaried taxpayers: 8 common inaccuracies every taxpayer should take care of NOW

Beware! Here's how Income Tax Dept tracks false info on ITR of salaried class

No relaxation in new bad loan rules, indicates RBI

RBI firm on new NPA rules, says cos should not take loan contract casually

Sebi seeks to halt Rs4,400 crore govt payment, fearing impact on autonomy

Full GST Implementation Must To Avoid Tax Revenue Underperformance: IMF

No cash in ATMs: Two reasons behind currency shortage that have gone unnoticed

Lenders need to be proactive in monitoring borrowers: RBI

Companies raise Rs 69 bn on BSE Bond platform under Sebi's new norm

IT Dept employees directed to follow dress code

Modi led GoM finalises new model for GST return filing

No mandating of cover for goods in transit; it’s insurers’ business: Gadkari


International News:

AICPA wants IRS to change guidance on corporate tax overpayments

Accounting class-action suits hit record levels

South Africa's auditor general cancels all contracts with KPMG


Income Tax Return eFiling Utilities:

Excel and Java Utilities for ITR 1 have been updated


GST Forms: EWay Forms:

Form EWB-01: E-Way Bill

Form EWB-02: Consolidated E-Way Bill

Form EWB-03: Verification Report

Form EWB-04: Report of detention

Form ENR-01: Application for Enrolment under section 35(2)

Form INV-01: Generation of Invoice Reference Number


GST Rules:

CGST Rules, 2017 as amended upto 18/04/2018


ICAI Publications:

Educational Material on Indian Accounting Standard (Ind AS) 103, Business Combinations


ICAI Exposure Drafts:

[Last date for comments for all drafts: May 12, 2018]

Preface to the Indian Valuation Standards

Framework for the Preparation of Valuation Report in accordance with the Indian Valuation Standards

Indian Valuation Standard 101- Definitions

Indian Valuation Standard 102- Valuation Bases

Indian Valuation Standard 103 - Valuation Approaches and Methods

Indian Valuation Standard 201 - Scope of Work, Analyses and Evaluation

Indian Valuation Standard 202 - Reporting and Documentation

Indian Valuation Standard 301 - Business Valuation

Indian Valuation Standard 302 - Intangible Assets

Indian Valuation Standard 303 - Financial Instruments


IASB Exposure Draft:

Accounting Policy Changes - Proposed amendments to IAS 8
[Last date for comments: July 27, 2018]


Legal Updates

Income Tax:

Filing of references for restoration of struck-off/de-registered companies under Companies Act, 2013



Seeks to make amendments (Fourth Amendment) to the CGST Rules, 2017 [No.21/2018-Central Tax]



Commencement of Disciplinary Proceeding [Circular]

Annual Compliance Certificate for Insolvency Professional Agencies



Strengthening the Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue

Reduction in timelines for public issue of debt securities under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008



Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on April 20, 2018)



Classification of remnant fuel & oils [Circular No.9]

Exchange Rates w.e.f. April 20, 2018 [No.33(NT)]

Seeks to impose definitive anti-dumping duty on imports of Glassware, originating in, or exported from People's Republic of China and Indonesia [No.22(ADD)]

Seeks to extend the levy of anti-dumping duty, imposed on imports of Soda Ash originating in or exported from Russia and Turkey [No.21(ADD)]

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver [No.32(NT)]