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The alley for Indian Chartered Accountants

Daily Newsletter - December 1, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

IFRS Draft

Reference Section:

CA's Referencer

Legal Updates:






Central Excise


News Update:

Indian News:

Rs 2,000 notes totalling Rs 9,760 cr still with public: RBI

Vivad se Vishwas: Govt settles over 43k MSME claims; refunds Rs 700 cr

RBI, Bank of England sign agreement to exchange information on CCIL

NPS subscribers can now choose preferred fund managers for 3 asset classes

To whom do the new Senior Citizen Savings Scheme (SCSS), PPF rules apply? Govt clarifies

RBI imposes penalty on HDFC Bank, Bank of America for violating FEMA norms

Sebi bans 9 entities from securities market for 2-years for flouting investment advisory rules

GIFT city gears up for direct listings, re-insurance


International News:

Global US Taxpayers Must Plan Carefully to Comply With FBAR

Only 70% of Large-Company Internal Audits Assess Cyber Risks

Exposure Draft:

IFRS Draft:

Financial Instruments with Characteristics of Equity
Proposed amendments to IAS 32, IFRS 7 and IAS 1

[Last date for Comments: March 29, 2024] 

Reference Section:

CA's Referencer:

Utility to Generate Audit Engagement Letters

Form for Disclosue of Fees Received by CA Firm as per Reporting Requirements under Code of Ethics

Legal Updates:


Advisory: Two-factor Authentication for Taxpayers

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Andhra Pradesh



The Companies (Incorporation) Third Amendment Rules, 2023



Extension of timeline for implementation of provisions of circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 on Redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to Online Dispute Resolution platform



Export of Food commodities through National Cooperative Exports Limited (NCEL) [Notification No.46]



Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.89(NT)]

Seeks to amend notification No. 22/2022-Customs, dated the 30th April, 2022, in order to align it with changes introduced vide notification No. 72/2023-Customs (N.T.), dated 30.09.2023 [Notification No.63]

Exemption of deposits from the provisions of Section 51 of Customs Act, 1962 [Notification No.88(NT)]

Notification to exempt deposits into ECL till 19th January 2024 [Notification No.87(NT)]


Central Excise:

Seeks to further amend notification No. 18/2022 - Central Excise in order to revise the SAED rate on petroleum crude [No.40]



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