Indian News

• Advisory for the taxpayer wishing to register as “One Person Company” in GST
• Indian banks can endure global banking turmoil fallout: S&P Global Ratings
• GST ITC restriction on CSR spend: Why businesses are worried about potential challenges
• DPIIT to set up task force for formulating logistics cost framework
• Insurers to link property cover rates to past claims
• RBI fines RBL Bank Rs 2.27 cr for failure on internal ombudsman scheme
• Sebi, investment bankers turn cautious as IPO market faces uncertainty
• GST dept to scrutinise I-T, MCA data to identify entities not paying taxes
• Foreign lawyers, law firms cannot appear in courts, judicial forum: BCI
• RBI governor: Need system to redress plaints tied to digital payments
• Sebi takes stricter approach in IPO clearance; returns draft paper of 6 cos
• Annual transparency reports by large firms’ auditors from FY23
• 80,000 cases pending before CESTAT; Govt to set up committee to suggest steps to reduce litigation
• New age firms in payment space reluctant to comply with rules at times: Das
• Sebi comes out with requirement to process investors' service requests
• Income tax return mismatches: E-verification scheme introduced

Click here for complete Indian News Listings

Budget News

• India govt unlikely to roll back tax plan on high-value life insurance
• To impose (or not to impose) anti-dumping duty: Budget’s retrospective amendment may impact domestic industry
• 'Angel Tax' provisions in Finance Bill will not impact start-ups: DPIIT Secy
• Budget prepared keeping mind external challenges also: FM Sitharaman
• Govt mulls modified valuation norms for taxing foreign investments in cos
• Sending money abroad, foreign investment to cost more: How remittances will be taxed from July 1, 2023
• Govt reduces customs duty on number of products for marine sector
• EPF withdrawals will be less taxing now. All about the big budget announcement
• India Inc braces for CSR cost blow
• No angel tax on past foreign investments in startups
• Increase in TCS under LRS is to target discretionary spending: Revenue Secy

Highlights of Finance Bill -- As Published by IT Dept

Notes on Clauses - Direct & Indirect Taxes -- As Published by IT Dept

Budget 2023-24 Documents

Budget 2023 Highlights

Economic Survey 2022-2023 
ICAI's Pre-budget Memorandum 2023

Click here for complete Budget News

International News

• Canadian accountants take note as SEC reminds accounting firms of the rules involving other auditors
• KPMG’s 29-year SVB stint stirs independence debate
• FASAB issues bulletin on reimbursable work agreements
• Deloitte Hit by Record China Fine, Suspension Over Huarong
• IASB improves approach to developing disclosure requirements
• ECB backs big rate hike despite bank chaos
• FASB proposes enhancements to income tax disclosures
• After SVB, cash is once again king, ex-CFO says
• KPMG stands by audits of Silicon Valley Bank and Signature Bank
• KPMG Under Pressure After Clean Audits of SVB, Signature Bank
• SVB collapse: Moody's changes outlook on US banking system to 'negative'
• Crypto Sector’s Reserve Reports Can’t Be Trusted, Says U.S. Audit Watchdog
• USA: Big Companies Seeing Tax Benefits From Law Change Some of Them Fought
• UK: Sanctions against PwC and two former audit partners
• IASB retains impairment-only goodwill model in M&A
• New standard provides risk-based approach to group audits
• KPMG working on tackling decarbonisation goals

Click here for complete International News Listings

Legal Updates

• IEPF Order for Rejection Under Rule 7(3) & 7(7)
• SEBI: Common and simplified norms for RTAs
• Customs: Exchange Rate Notification dated March 15, 2023
• RBI: Reporting and Accounting of Central Government transactions for March 2023
• Customs Notification Fixing Tariff Values - March 15, 2023
• Customs Update - March 14, 2023
• DGFT Notification No.60
• SEBI: Clarification with respect to Qualified RTAs
• Customs Instruction No.10
• MCA Announcement for CA and CS
• SEBI Press Release
• SEBI Update - March 8, 2023
• Customs Update - March 8, 2023
• Income Tax: Corrigendum: Changes in Income Tax Return
• IBBI Circular: Serving cpoy of applications under Rules 4, 6 and 7
• RBI Notification for Remuneration of Statutory Auditors
• Customs Update - March 6, 2023
• Central Excise Update - March 6, 2023
• Service Tax Notification No.1
• IBBI Notification: Exemption under Section 10 of the Income-tax Act, 1961
• Customs Update - March 3, 2023
• Income Tax Notification No.8 - Amendments to Income Tax Forms

Reference Updates

• Amended Income Tax Form 10BB
• Amended Income Tax Form 10B
• SEBI: Master Circular for Portfolio Managers
• Responsibilities of Lead Auditors to Conduct High-Quality Audits When Involving Other Auditors
• Guidance Note on Audit of Banks (2023 Edition)
• SEBI Amended Regulations for FPIs
• SEBI: Grant of Reward to Informant under Recovery Proceedings Guidelines, 2023
• Download Amended ITR Forms
• CA's Referencer: Format for Serving a Copy of Application for Initiation of CIRP
• ICAI: Implementation Guide to SA 580, Written Representations
• SEBI Master Circular & Regulations - March 3, 2023
• ICAI Publication: Meetings of Committee of Creditors
• Cost and Management Accounting and Quantitative Techniques - A Student's Guide
• Article: L&T merges Mindtree into L&T Infotech 
• RBI Master Direction on Financial Statements
• RBI Master Direction for PPIs updated
• Ind AS updated
• SEBI Master Circular & Regulations - Feb.16, 2023
• SEBI Regulations amended for InVTs and REITs

From the ICAI

ICAI Announcements

Accounting Standards

Accounting Standards for Local Bodies

Indian Accounting Standards - Ind AS 

Ind AS Technical Facilitation Group (ITFG)

Standards on Quality Control (SQCs)

Standards on Internal Audit

Guidance Notes [Includes GN for Bank Audits - 2023 edition]

International Content

International Financial Reporting Standards (IFRS)

Financial Reporting Council (UK):

Technical Actuarial Standard 100: General Actuarial Standards
Version 2.0 [Published in March 2023]

International Ethics Standards Board for Accountants [IESBA]: 
[Published in February 2023]  

Revisions to the Code Relating to the Definition of Engagement Team and Group Audits

Basis for Conclusions

Thematic Review: IFRS 9 Banking Audit Methodology and its Application 
[Published in February 2023]

Exposure Drafts

• ICAI Exposure Draft: Guidance Note on Transfer to Capital Reserve
• FASB Exposure Draft on Income Tax Disclosures
• SEBI: Consultation Paper on Holding of Sponsor in REITs and InvITs
• ICAEW Exposure Draft Regarding Ethical Standards
• SEBI Drafts: 2 new consultation papers

Go to the "Exposure Drafts" listings to access all Exposure Drafts

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