Weekly Newsletter - January 3, 2024
Latest additions to CAalley:
News Update:
International Content:
Useful Forms:
Acts & Regulations:
Exposure Drafts:
From the ICAI:
Legal Updates:
News Update:
GST dept issues demands, penalties totaling over Rs 19 cr to Ceat Tyres
AIFs may aid roll-over of stressed loans: Reserve Bank of India report
No minimum balance charges on 'inoperative accounts': Reserve Bank of India
RBI flags use of credit bureau data for analytics
Mis-selling: Government suggests checks on insurance agents
New ruling on Benami law may unearth old deals
More than 60% of taxpayers adopt new I-T regime
Income Tax department’s advisories put NRIs on notice on high value deals: Report
Customers' complaints against credit information companies increasing: RBI
RBI proposes banks with less than 6% net NPAs to declare dividends
Everyone wants to do an FTA with India due to rapidly growing market: GTRI
Female govt employees may now nominate child for pension before husband
Services of audit cos under lens of NFRA
HDFC Bank goes live with NPCI-developed UPI in secondary market platform
Tax officials arrest mining company MD for GST irregularities of 18 crore
LIC and YES Bank receive tax notices worth 806 cr and 3 cr respectively
SEBI imposes penalty on Unitech Advisors, honchos; bars them from market
Supporting regulatory framework needed to harness benefits of AI: RBI DG
NFRA flags audit lapses by Walker Chandiok, releases inspection report
Indian and Hong Kong Customs bust Trade-Based Money Laundering network, 4 held
Not mandatory for banks, NBFCs to raise green funds: RBI FAQs
Brokers target March-end timeline for offering UPI block facility
RBI extends Payments Infrastructure Development Fund scheme till 2025
Large international banks ask many Indian HNIs to close accounts
SEBI panel proposes price move as defining criteria for rumour verification
Final ONDC seller to be liable for TCS, CBDT clarifies
FinMin sends notices to offshore crypto exchanges, asks Meity to block them
Govt extends deadlines for GST officers to issue demand notices for FY'19, FY'20
RBI tweaks D-SIB designation methodology, inserts digital payments aspect
More than 196,000 cos, LLPs incorporated till Nov this year: Govt
Sebi tweaks norms for online bond platform providers to boost ease of biz
The Rs 402 crore GST notice that sent Zomato’s shares tumbling
Govt extends RoDTEP benefits to e-commerce exports through post or couriers
SBI, HDFC Bank will need to maintain higher capital from FY25, says RBI
I-T dept leverages tech to scrutinise tax returns, recovers Rs 36,000 cr
CCI clears IndusInd International Holdings Ltd-Reliance Capital deal
RBI implements govt securities lending directions with immediate effect
Some audit disclosures may prompt companies to manipulate earnings
Big Four firms rethink governance after year of mis-steps and scandals
International Content:
Thematic Review:
IFRS 17 ‘Insurance Contracts’ - Interim Disclosures in the First Year of Application
[November 2023]
Useful Forms:
All ITR eFiling utilities have been updated as on January 1, 2024
Acts & Regulations:
Master Circular for Online Resolution of Disputes in the Indian Securities Market
Exposure Draft:
Draft Circular on Declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India
[Last date for Comments: January 31, 2024]
Draft Directions on Bond Forwards under Section 45W of the RBI Act, 1934
[Last date for Comments: January 25, 2024]
Consultation Paper on Amendments to SEBI Regulations with respect to Verification of Market Rumours
[Last date for Comments: January 18, 2024]
From the ICAI:
Legal Updates:
Guidelines u/s 194-O(4) of the Income-tax Act 1961 - TDS by e-commerce operator [Circular No.20]
3 GST (Rate) Notifications - Jan 3, 2024
Advisory on the functionalities available on the portal for the GTA taxpayers
Notification of Constitution of Principal Bench of Goods and Services Tax Appellate Tribunal
Advisory: Date extension for reporting opening balance for ITC reversal
Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions
Review of Instructions on Bulk Deposits for Urban Co-operative Banks
Payments Infrastructure Development Fund – Extension of Scheme and Enhancements
Minimum Holding Period Exemption for Transfer of Receivables
Reserve Bank of India (Financial Benchmark Administrators) Directions, 2023
Settlement of Running Account of Client’s Funds lying with Trading Member (TM)
Framework on Social Stock Exchange
Amendment in Para 2.31 of the Foreign Trade Policy, 2023 [Notification No.56]
Seeks to amend Notification No. 96/2008 Customs dated 13.08.2008 [Notification No.67]
Seeks to amend Sea Cargo Manifest and Transhipment Regulations 2018 [Notification No.94(NT)]
Seeks to amend Notification No. 29/2022 - Customs (ADD) dated 19.10.2022 [Notification No.18(ADD)]
