caalley logo

The alley for Indian Chartered Accountants

CAalley Newsletter dated September 11, 2022

Latest additions to CAalley:


Indian News

International News

From the ICAI:

New Announcement

Additions to Articles:

New Article

Legal Updates:





Indian News:

Man creates 36 fake GST firms, arrested for input tax credit fraud of Rs 23 cr

Mastermind of Chinese shell companies racket arrested while attempting to flee India

Consultations in progress on revising WPI base year to 2017-18: DPIIT secy

Finmin mulls changes in insurance laws, considers easing entry level capital requirement

Bank unions call for forensic audit of UTI AMC's ₹2,000 crore exposure in DHFL

Corporate professionals gearing up for new accounting standards

CBIC issues guidelines for claiming GST transitional credit

India opts out of joining IPEF trade pillar, to wait for final contours

Consumer panels to get tech help for faster delivery of orders

Nirmala Sitharaman orders to crack whip on illegal loan apps

BoI net profit down at Rs 2,221cr for FY22 on divergence in provisioning

Court cannot stop govt from bringing law in Parliament on cryptocurrencies: SC

Blind adoption of new fintech could have an adverse impact: RBI ED

Don't want SC to become 'Tareekh pe Tareekh' court: SC judge Chandrachud

Summons, arrest under GST law cannot be arbitrary

E-way bills at all-time high in August

India imposes 20% export duty on rice

'Secured creditor' in IBC doesn't exclude govt bodies, says SC

Crackdown begins on Indian entities supplying fake directors to Chinese shell companies

SBI dishonours cheque after misreading Kannada numeral; fined Rs 85,000

Adani Group debt data tweaked by CreditSights in toned down note

RBI, finance ministry ask companies and banks to push exports using rupee

Digital lending norms aim to protect customer interest: RBI's Rao

Centre likely to unveil e-comm platform this month

Monetary Policy not the only tool to manage inflation: Sitharaman



International News:

‘Clear communication’ from accountants key to avoiding awkward client conversations

UK: Responsible Financial Innovation Act: Proposed Tax And Reporting For Digital Assets

Why EY’s decision to split is actually a protective measure

FASB to consider tweaking lease accounting guidance

ISSB Receives Global Response on Sustainability Disclosures

ECB raises rates by unprecedented 75 bps to tame runaway inflation

New FASB Crypto Accounting Rules Will Tackle Certain Fungible Tokens Deemed ‘Intangible Assets’



From the ICAI:

ICAI Announcement:

Withdrawal functionality of 15CB forms at e-filing portal




Corporate Social Responsibility



Legal Updates:


Guidelines for filing/revising TRAN-1/TRAN-2 in terms of order dated 22.07.2022 & 02.09.2022 of Hon’ble Supreme Court in the case of Union of India vs. Filco Trade Centre Pvt. Ltd [Circular No.180]




The Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 [No.74]

Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022 [Circular No.18]

Customs procedure for export of cargo in closed containers from ICDs to Bangladesh using inland waterways [Circular No.17]

Seeks to amend Second Schedule to the Customs Tariff Act to prescribe export duty on specified Rice products [No.49]

Seeks to amend notification No. 57/2000-Customs, dated the 8th May, 2000 to apply IGCR Rules with effect from 01.10.2022 [No.48]

Seeks to amend notification No. 56/2000-Customs, dated the 5th May, 2000 to apply IGCR Rules with effect from 01.10.2022 [No.47]



Read more on:
Don't miss an update!
Subscribe to our newsletter