Daily Newsletter - May 6, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IFSCA Draft

RBI Draft

Legal Updates:

IFSCA

SEBI

DGFT

Customs

  

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News Update:

Indian News:

RBI to make digital currency available offline, says Governor Das

Centre may push for 12% GST for health insurance; lower rate seen to widen cover

Big 4's dominance: Local companies call for level playing field

FPSB India, IFSCA sign pact to promote GIFT IFSC as 'global finance hub'

Data sharing among authorities, taxpayers can help improve I-T dept AIS functionality: Deloitte

Financial Intelligence Unit arms itself with AI to check money laundering

Five GST officials arrested in refund fraud cases

Sebi eases e-onboarding for portfolio managers

ICAI defends action against EY affiliates, says move in sync with its statutory power

CBI arrests income tax officer for accepting Rs 4 lakh bribe

RBI proposes tighter rules for under-construction infra project financing

RBI revises banks' capital market exposure norms for T+1 settlement

 

International News:

CFOs must lead on establishing trust in AI for financial reporting

SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud Affecting More Than 1,500 SEC Filings

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Exposure Drafts:

IFSCA Draft:

Consultation Paper on proposed IFSCA (Listing) Regulations, 2024
[Last date for Comments: May 25, 2024] 
  

 

RBI Draft:

Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation
[Last date for Comments: June 15, 2024] 

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Legal Updates:

IFSCA:

Import of UAEGD Gold through IIBX by valid India-UAE TRQ holders

Facilitating investments by NRIs and OCIs into Indian securities through Schemes / Funds in an IFSC

Issuance of Derivative Instruments against Indian securities by non-bank entities in GIFT-IFSC

 

SEBI:

Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA

 

DGFT:

Export of food commodities through National Cooperative Exports Limited (NCEL) [Notification No.11]

Amendment in the Export Policy of Onions [Notification No.10]

Suspension of inoperative SIONs [Public Notice No.3]

Clarification on the applicability of 3% amount on account of non-achievement of minimum Value Addition as mentioned in para 4.49 (b) and amount equivalent to 10% of the CIF value in Para 4.49 (a)(ii) of HBP 2023 [Circular No.2]

 

Customs:

Seeks to amend specified customs tariff notifications to exempt applicable import duty on imports of desi chana (HS 0713 20 20) up to 31.03.2025; to impose export duty of 40% on exports of Onions (HS 0703 10); to extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.10.2024 [Notification No.24]

Instruction on review of requirement of G-Card holders at a Customs Station and conduct of G-Card examination in terms of Regulation 13 of CBLR, 2018 [Instruction No.12]

Verification of authenticity and genuineness of Certificate of Origin (CoO) issued by UAE Authority [Instruction No.11]

Acceptance of Electronic Certificate of Origin (e-CoO) issued by the issuing Authority of Korea under India-Korea Comprehensive Economic Partnership Agreement after implementation of India-Korea Electronic Origin Data Exchange System (EODES) [Instruction No.10]

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