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Weekly Newsletter - September 20, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

PCAOB Exposure Draft

Reference Section:

Acts & Regulations

Useful Forms:

Income Tax eFiling Utilities

Legal FAQs:

Income Tax FAQs

Legal Updates:

Income Tax






Central Excise


News Update:

Indian News:

Fake billing: 12 firms face Rs 50.19 crore GST penalty

Ice cream topping crackle likely to attract 18 per cent GST on AAR ruling

Surety bonds must complement bank guarantee: Irdai's Debasish Panda

AAR: ‘School bus fees exempt from GST’

GST fraud busted in Maharashtra's Palghar, private firm's proprietor arrested

SFIO arrests chartered accountant for role during demonetisation

India's e-commerce exports have a lot to complain about banking issues

Time limit under GST to claim input tax credit constitutionally valid: HC

Industry body CII to seek clarity from Sebi on upcoming ESG norms

IBC is not a recovery mechanism, says NCLAT

Likely to default on monthly repayment? SBI will send you a chocolate

Auditors should embrace technology, contribute to nation building: FM

Cognizant's Rs 19,000cr buyback attracts dividend tax: Tribunal

Banks don't want you to overpay card dues

Sebi slaps Rs 2.46 crore fine on two companies, 7 individuals

Banks receive GST notices for use of brand name by branches, subsidiaries

Finance Ministry notifies 31 state benches of GST appellate tribunal

Offshore properties may face scrutiny

RBI releases list of NBFCs in upper layer under scale-based regulations

Soon, use birth certificate as single document to avail host of services

No pension, PF for I-T, GST tribunal members under amended tribunal rule

GST registration in Gujarat stricter with passport-like mechanism: Minister

Cos can claim credit for GST paid on dealer incentives: AAR

RBI decides to include corporate bond under Held to Maturity category


International News:

PCAOB Proposes Expanded Liability for Individual Auditors Involved in Firm Violations

PCAOB finds faults in more than half of PwC Canada, BC accounting firms' audits

ECB hikes, cuts growth outlook; US core inflation remains bit firmer

Russian central bank hikes key interest rate to 13%

EY Falls Just Shy of $50 Billion in Global Revenue for 2023

Exposure Draft:

PCAOB Exposure Draft:

Proposed Amendments to PCAOB Rule 3502 Governing Contributory Liability
[Last date for Comments: November 3, 2023] 

Reference Section:

Acts & Regulations:

The Mediation Act, 2023

Useful Forms:

Income Tax eFiling Utilities:

Income Tax eFiling Utility for filing Statutory Income-tax Form 3CA-3CD & 3CB-3CD
Form Schema for New Form 10B

Legal FAQs:

Income Tax FAQs:

Digital Signature Certificate (DSC) related issues and solutions

Legal Updates:

Income Tax:

​Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24 [Circular No.16]



Advisory: Geocoding Functionality for the Additional Place of Business

Seeks to appoint common adjudicating authority in respect of show cause notice issued in favour of M/s Inkuat Infrasol Pvt. Ltd. [Notification No.46]

Notification for Constitution of GST tribunals



Extension of period of the Company Law Committee



Regulatory Reporting by AIFs



Directions from TRAI for curbing the menace of Unsolicited Commercial Communication

Constitution of Inter-Disciplinary Standing Committee on Cyber Security



Implementation of Ex-Bond Shipping Bill in ICES 1.5 [Circular No.22]

Order under rule 5 of the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 for Linear Alkyl Benzene (LAB) [CAVR Order No.1]

Seeks to amend No. 19/2019-Customs [Notification No.56]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.67(NT)]

Seeks to amend notification no 11/2022-Customs and 12/2022-Customs in order to amend entries relating to Phased Manufacturing Programmer for wearables and hearable [No.55]

Seeks to amend notification no. 50/2017-Customs in order to amend various entries relating to Project Imports as a result of Project Import review [No.54]

Further amendment to Notification No.63/1994 [No.66(NT)]

Norms for posting of officers and benchmark performance criteria while granting exemption from payment of Cost Recovery Charges (CRC) at Air Freight Stations [Circular No.21]


Central Excise:

Reduction in Special Additional Excise Duty on export of Diesel [Notification No.31]

Seeks to increase the Special Additional Excise Duty on production of Petroleum Crude and reduce the Special Additional Excise Duty on export of ATF [Notification No.30]



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