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Daily Newsletter - July 5, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Useful Forms:

ITR eFiling Utilities

Legal Updates:





Central Excise



News Update:

Indian News:

RBI imposes a monetary penalty of Rs 1.32 crore on Punjab National Bank

RBI imposes penalty on YES Bank for not exchanging mutilated notes

RBI launches quarterly survey on order books of manufacturing sector

Sebi issues guidelines to streamline operations of credit rating agencies

RBI has cancelled licence of 7 co-operative banks since Jan: Here's why

Demat account KYC: Why it matters more than ever for Indian investors

DPIIT close to finalising model to launch Producer Price Index in India

Paytm Bank, auditor lock horns over business viability

Sebi chair Madhabi Puri Buch urges industry to report mischief in markets

Sebi mandates institutional mechanism for fraud prevention in stock broking

Sebi eases passive fund rule, allows higher exposure in sponsor group firms

ICAI assures of action after women asked to move ‘out of sight’ of Swami Gyanvatsal at Kolkata event

Sebi notifies institutional mechanism for brokers to prevent mkt abuse

RBI governor Das asks banks to strengthen governance, risk management

ED arrests 3 including CA for fraudulent take over of insolvent company

GST Council decisions to be incorporated in the Finance Bill: CBIC Chief


International News:

[US] Financial restatements drop, a good sign for reporting quality

Exposure Draft:

SEBI Draft:

Consultation Paper on Treatment of interest income by Clearing Corporations (CCs) on cash collaterals received from Clearing Members (CMs) and upstreamed client funds
[Last date for Comments: July 25, 2024] 

Useful Forms:

ITR eFiling Utilities:

The following utilities have been updated:

Common Offline Utility (ITR 1 to ITR 4)
Windows Utility
MAC Utility

Excel Utility
Schema Change Document

Excel Utility
Schema Change Document

Windows Utility
MAC Utility

Legal Updates:


Enhancements to Address-Related Fields in GST Registration Functionalities



Filing of Forms [BEN-2, MGT-6] due to migration from V2 Version to V3 Version in MCA21 Portal from 04th July 2024 14th July 2024 [Circular No.4]



Release of foreign exchange for Miscellaneous Remittances

Online submission of Form A2: Removal of limits on amount of remittance



Measures for Ease of Doing Business for Credit Rating Agencies (CRAs) – Timelines and Disclosures

Modification to Enhanced Supervision of Stock Brokers and Depository Participants

Measures to instil confidence in securities market - Brokers' institutional mechanism for prevention and detection of fraud or market abuse

Reduction in denomination of debt securities and non-convertible redeemable preference shares


Central Excise:

Revised Monetary Limits for Adjudication of Show Cause Notices in Central Excise for commodities classified under Chapter 24 of Schedule IV of Central Excise Act, 1944 [Circular No.1]



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