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Daily Newsletter - May 17, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

Legal Updates:





Central Excise


News Update:

Indian News:

TDS is applicable on interest earned from Mahila Samman Savings Scheme: CBDT

IBC ecosystem may get common technology

IRDAI lowers the solvency requirement for surety bonds to 1.5 times

Sebi mulls expanding definition of QIB for debt securities

Payments banks approach RBI to rehaul regulations

Sebi slaps Rs 25 lakh penalty on 5 entities for non-genuine trades

Banks request RBI for 1 more year to implement new loan provisioning system

Centre cuts windfall gains tax on domestic crude oil to nil

UPI-related scams account for 55% of total digital payments frauds in India

GST collections: hype and reality


International News:

AICPA joins coalition to increase awareness of new BOI requirement

ISSB transition respite will provide 'more consistency'

US: Black taxpayers more likely to face audits, IRS confirms

FASAB seeks feedback on its existing standards

Sustainable accounting: The future of talent management

Exposure Drafts:

SEBI Drafts:

Consultation paper on Special Rights and Role of Sponsor in REITs and InvITs
[Last date for Comments: May 29, 2023] 

Consultation paper on expanding definition of Qualified Institutional Buyers for Debt Securities
[Last date for Comments: May 29, 2023] 

Legal Updates:


The Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023



Master Circular for Registrars to an Issue and Share Transfer Agents

Master Circular for Stock Brokers



Circular on Surety insurance guidelines to Non Life Insurers



Amnesty Scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders (Notification No.32/2023-Customs dated 26.04.2023) [Circular No.11]

Notification in relation to Land Customs Stations and routes a) Anandpara (India) - Ramgarh (Bangladesh) via River Feni (b) The road from NH-8 in Anandpara (India) through Maitri Setu to Ramgarh (Bangladesh) by amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st November 1994 [No.35(NT)]


Central Excise:

Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude [No.22]



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