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CAalley Newsletter dated February 17, 2023

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Latest additions to CAalley:


Indian News

Budget News

International News

Acts & Regulations:

SEBI Master Circular & Regulations

Exposure Draft:

RBI Draft

Legal Updates:




Central Excise


News Update:

Indian News:

RBI issues draft norms for lending and borrowing of G-secs

Irregularities found on certain tax payments, says I-T department on 'survey' at BBC offices

GST council should raise exemption threshold to Rs 1.5 cr, says GTRI

Govt. likely to place reverse charging of GST on scrap before Council

RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances

Sebi mandates brokers, depositories to maintain websites

Govt looks to tap section of kirana stores to expand GST base: Report

GST Council to discuss GoM reports on appellate tribunals, tax evasion by gutkha firms on Feb. 18

If states agree, petroleum and gas can be brought under the GST ambit: FM Sitharaman

Delay in renewable energy project? Centre can blacklist companies

Cashback and gift vouchers will not attract GST, rules Karnataka High Court

Sebi introduces issue summary document for filing IPO papers in XBRL format

Sebi notifies governance norms for REITs, InvITs similar to listed cos


Budget News:

Budget prepared keeping mind external challenges also: FM Sitharaman


International News:

KPMG US to cut 700 advisory jobs

UK audit regulator risks cementing the Big Four’s oligopoly

Acts & Regulations:

SEBI Master Circular & Regulations:

Master Circular for Substantial Acquisition of Shares and Takeovers

SEBI (Infrastructure Investment Trusts) Regulations, 2014 [Last amended on February 14, 2023]

SEBI (Real Estate Investment Trusts) Regulations 2014 [Last amended on February 14, 2023]

Exposure Draft:

RBI Draft:

Reserve Bank of India (Government Securities Lending) Directions, 2023
[Last date for Comments: March 17, 2023] 

Legal Updates:


Maintenance of a website by stock brokers and depository participants



Introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems



Exchange rate Notification No. 10/2023-Cus (NT) dated 16.02.2023 [No.10(NT)]


Central Excise:

Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on Diesel [No.9]

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 and export of Aviation turbine Fuel [No.8]



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