Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

MCA eForms

GST Return Offline Utilities

ICAI Announcement

CBDT Draft

Legal Updates

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


Indian News:

ICAI members can have Chartered Accountants Australia & New Zealand membership

Govt to release inflation index for 10 services on trial basis in June

Fee regulations for insolvency professionals soon

CBDT notifies protocol on India-Kuwait double tax avoidance pact

Sebi writes to govt urging tax parity between cash and derivatives

Coaching classes to pay 18% GST, students bear brunt

Window dressing: Pay in advance, Indian Railways tells bulk customers

Companies get scrutiny notices for mismatch in GST returns

Cost-cutting measures: Banks close 2,000 ATMs in 10 months

Govt likely to notify 8.55% interest on PF for FY18 this week

Bitcoin trading ban: Another company moves Delhi HC against RBI circular

Sebi proposes changes to norms governing raising of equity capital

RBI to banks: Share foreign exchange data with DRI

GST Council announces simplified return filing process

Single GST return form by year-end: Adhia

GST Council to form committee to consider incentives on digital payments

GST Network to be converted into 100% govt-owned entity: Jaitley

Sebi extends trading hours for derivatives market till 11:55 PM from Oct 1

Digital copy of E-way bill enough to give transporters right of way: Court

Taxman seeks reversal of Cenvat credit on financial investments by companies

GST evasion: 61 cases involving Rs.315.13 crore detected till Feb

Sebi puts in place new framework to check non-compliance of listing rules

RBI’s monetary policy relatively unaffected by global spillovers, says paper

Now pensioners can view passbook on their mobile phone using Umang app

RBI allows foreign investors to invest in treasury bills

CBDT notifies introduction of section 112A in the Act

Bankruptcy cases: Resolution professionals under attack from bidders, NCLT


International News:

KPMG hopes IRBA review will salvage the reputation of SA auditors

Global accounting standards gain greater acceptance


MCA eForms:

Updated till May 8, 2018


GST Return Offline Utilities:

Returns Offline Tool Version V2.2.3 for GSTR-1 and GSTR-2 


ICAI Announcement:

Implementation Guide on Reporting Standards (Revised SA 700, Revised SA 705 and Revised SA 706) issued by the AASB [Published on May 2, 2018]


CBDT Draft:

Draft notification pertaining to new Rule 11UAB of IT Rules, 1962 [Last date for comments: May 14, 2018]


Legal Updates

Income Tax:

DTAA with Kuwait [No.21]


Service Tax:

Applicability of the Place of Provision of Services Rules, 2012 to development of software and services on software [Circular No.209]



Issue related to taxability of ‘tenancy rights’ under GST [Circular No.44]



The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2018

The Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018

The Companies (Meetings of Board and its Powers) Amendment Rules, 2018

The Companies (Audit and Auditors) Amendment Rules, 2018

The Companies (Share Capital and Debentures) Amendment Rules, 2018

The Companies (Specification of Definition Details) Amendment Rules 2018

The Companies (Registration of Office and Fees) Second Amendment Rules 2018

Commencement notification

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.4]

Condonation of Delay Scheme, 2018



The Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018

Commencement Notification



Trading Hours on Stock Exchanges

Non compliance with provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Standard Operating Procedure for suspension and revocation of trading of specified securities

Additional Risk management measures for derivatives segment

Master Circular for Credit Rating Agencies

Amendment to SEBI Circular No. IMD/FPIC/CIR/P/2018/61 dated April 5, 2018 on Monitoring of Foreign Investment limits in listed Indian companies

SEBI (Employees' Service) (Amendment) Regulations, 2018



Panel of Actuaries



Data Sharing with Directorate of Revenue Intelligence

Monitoring of foreign investment limits in listed Indian companies

Guidelines on Stripping/Reconstitution of Government Securities

Investment by Foreign Portfolio Investors (FPI) in Debt - Review

External Commercial Borrowings (ECB) Policy – Rationalisation and Liberalisation

Investment by Foreign Portfolio Investors (FPI) in Debt - Review



Exchange Rates w.e.f. May 4, 2018 [No.35(NT)]

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver [No.34(NT)]

Import of EOUs/EHTP/STP /BTP without payment of duty following Rule 5 of Customs (Import of Goods at concessional rate of Duty) 2018 [Circular No.10]

Seeks to impose definitive anti-dumping duty on imports of Methyl Ethyl Ketone or MEK originating in, or exported from China PR, Japan, South Africa and Taiwan [No.23(ADD)]



Insertion of a new Policy condition under Chapter 87 of ITC (HS), 2017 - Schedule - I (Import Policy) [No.7]

Amendments in Table 2 of Appendix 3B Foreign Trade Policy 2015-2020 [Public Notice No.2]

One-time condonation under the EPCG Scheme - Extension till 30.09.2018 [Public Notice No.1]

Amendment in Para 1.05(b) Foreign Trade Policy 2015-2020 [No.5]

Amendment in import policy of ea under Chapter 7 of the ITC (HS) 2017 [No.4]

Eligibility of IT enavled Services under Appendix 3D of the Services Exports From India Scheme of the Foreign Trade Policy 2015-20 [Trade Notice No.4]

Applicability of provisions of para 2.20 of HBP, 2015-20 on Advance Authorisations issued under 2009-14, FTP [Trade Notice No.3]