CAalley Newsletter for the week ending March 1, 2023
Latest additions to CAalley:
News Update:
Reference Section:
Exposure Draft:
From the ICAI:
International Content:
Legal Updates:
News Update:
RBI showcauses ARCs after audit following Income Tax raids
Irdai asks insurers to design covers for mental illness, HIV
Aadhaar authentication to become more secure with new system; know details
Startups collective eye legal action to challenge Google
No input tax credit for liquor sales: GST-AAR
E-filing of CESTAT appeals begins on trial basis
Auditors of large firms to keep records in Entity DigiLocker
Sebi mulls uniform expense ratio for mutual funds to curb mis-selling
Indian banks well placed to transit to Expected Credit Loss regime: S&P
Indian banks unprepared for RBI's ESG push, survey shows: Report
Cars on highways to be offered insurance cover using Fastag soon: Report
ITAT: Pay reimbursement not income for Google US
Eligible EPFO members can now apply for higher pension till May 3, 2023
Sebi plans central database on FPIs’ beneficial owners
Money laundering: SEBI holds intermediaries liable for client actions
Non-existent 'firms' that pulled off Rs 20 crore fraud busted in Uttarakhand
Sebi to control unsolicited fin market advise from social media influencers
5% GST payable on all pre-packaged and labelled jaggery: Karnataka AAR
NSE unit launches first Municipal Bond Index
Indian banks to issue bonds to maintain capital levels: CARE Ratings
NSE gets SEBI’s final nod for social stock exchange
‘Authorities can’t doubt tax residency certificate’: ITAT
NFRA interacts with Life Insurance Industry on AS 117 for accounting for insurance contracts
Sebi plans to allow perpetual funds
MCA notifies procedure for physical submission of compliance forms
NPS rule change: Uploading these documents will be mandatory for withdrawal from April 1, 2023
Excise ‘scam’: Delhi court allows ED to question Hyderabad-based CA in money laundering case
Urgent need to increase level of self-governance: SEBI official
Sebi proposes to allow pension funds to participate as anchor investors in public issues
ESG Reporting Now Common at Large Companies, But Report Quality Varies
PCAOB Enforcement Activity Up Sharply in 2022
Opportunity knocks for firms as ESG reporting, assurance levels rise
IMF flags debt restructuring hurdles, says banning crypto should be an option
Businesses must take action to weather geopolitical storms
China urges state firms to drop Big Four auditors, Bloomberg reports
ICAEW issues practical tips on UK CFDR
Reference Section:
Cost and Management Accounting and Quantitative Techniques - A Student's Guide
[Submitted by J.Ramachandran]
Exposure Draft:
Consultation Paper on Holding of Sponsor in REITs and InvITs
Last date for Comments: March 8, 2023]
From the ICAI:
Meetings of Committee of Creditors
A Handbook for the Guidance of Insolvency Professionals
[Released in February 2023]
International Content:
Thematic Review: IFRS 9 Banking Audit Methodology and its Application
[Published in February 2023]
Legal Updates:
IBBI notified for the purposes of section 10(46) of the Income-tax Act, 1961 [No.9]
Compensation Cess (Rate) Notification:
Seeks to amend notification no. 1/2017- Compensation Cess (Rate), dated 28.06.2017 [No.1]
Central Tax (Rate) Notifications:
Seeks to amend notification no. 2/2017-Central Tax (Rate), dated 28.06.2017 [No.4]
Seeks to amend notification no. 1/2017-Central Tax (Rate), dated 28.06.2017 [No.3]
Integrated Tax (Rate) Notifications:
Seeks to amend notification no. 2/2017-Integrated Tax (Rate), dated 28.06.2017 [No.4]
Seeks to amend notification no. 1/2017-Integrated Tax (Rate), dated 28.06.2017 [No.3]
Union Territory Tax (Rate) Notifications:
Seeks to amend notification no. 2/2017-Union Territory Tax (Rate), dated 28.06.2017 [No.4]
Seeks to amend notification no. 1/2017-Union Territory Tax (Rate), dated 28.06.2017 [No.3]
Seeks to amend notification no. 104/94-Customs, dated 16.03.1994 [No.14]
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.11(NT)]
Completion of Data Entry in DIGIT [Instruction No. 7]
Seeks to exempt BCD on ships/ vessels for breaking up [No.13]
Amendments in Para 4.42 of the Handbook of Procedures 2015-2020 [Public Notice No.59]
