Daily Newsletter - July 14, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

DGFT Draft

IFRS Draft

Legal Updates:

IBBI

SEBI Master Circulars

News Update:

Indian News:

40K taxpayers withdraw bogus claims worth ₹1,045 cr as I-T dept cracks down

New GST scam alert: Officials selling traders’ data to rivals for monetary gains, alleges CAs body

SC dismisses retrospective integrated GST demand on aircraft repairs abroad

Cash may return as king as small vendors shun UPI

Using UPI data, govt cracks down on unregistered traders to boost GST revenue

Fake tax deductions: What taxpayers must know as I-T Dept launches raids

Income Tax raids across 200 locations over fake political donation claims

ITR filing last date for FY 2024-25 is not same for all

EPFO grievance portal: Step-by-step guide to raise and track complaints

Jane Street seeks Sebi nod to remove trading ban after depositing Rs 4,843 crore

Snoop on chatter & dark web, be mindful of privacy: IT dept tells its sleuths, revises search manual after 17 years

India should avoid rushing for trade pact with US, warn experts

Air India crash: Victims entitled to compensation, regardless of fault

IRDAI flags lapses in health insurance claims, issues show-cause notices, says Report – Here are 8 insurers under scrutiny

Delhi HC stays Rs 1,140 crore tax demand against Oyo

EY launches AI academy to boost GenAI skills across Indian industries

International News:

PCAOB Fines Illinois Firm $50,000 Over Failures in 17 Broker-Dealer Audits

IAASB revises auditor fraud standard

Exposure Drafts:

DGFT Draft:

Draft Internal Compliance Programme Document for adoption by Industry for export of dual use(SCOMET) items
[Last date for Comments: July 24, 2025]
 

IFRS Draft:

IFRS® Accounting Standard - Post-implementation Review
IFRS 16 Leases
[Last date for Comments: October 15, 2025]

Legal Updates:

IBBI:

Withdrawal of Form IP-1 for assignments under IBC Processes

SEBI Master Circulars:

Master Circular for Infrastructure Investment Trusts (InvITs)

Master Circular for Real Estate Investment Trusts (REITs)

Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper

Master Circular for Credit Rating Agencies (CRAs)

Master Circular for ESG Rating Providers (ERPs)