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CAalley Newsletter dated April 12, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

RBI Master Circular

Exposure Draft:

RBI Draft

Legal Updates:

Income Tax






News Update:

Indian News:

Competition law amendment bill gets President's assent

Sebi imposes fine worth ₹15 lakh on 3 individuals for non-genuine trades

SC axes judge for giving verdicts without dictating full judgments

Irdai chief urges insurers to increase their capital for faster growth

Cyprus-based betting website under scanner for GST evasion

RBI issues framework for acceptance of green deposits by banks, NBFCs

Search and seizure action by Income Tax Department in Karnataka

India cenbank puts in place framework for acceptance of green deposits

Exchanges to set common equilibrium price for listing day post IPO: SEBI

I-T dept notifies Cost Inflation Index for current fiscal

Tax heat on offshore online gaming companies

RBI simplifies CIC application form, prunes list of documents required

RoCs set to crack the whip on company law violators


International News:

EY calls off plan to split audit, consulting units as talks fail

IASB confirms temporary relief from deferred tax accounting following OECD Pillar Two tax reform

Auditors Didn’t Flag Risks Building Up in Banks

Acts & Regulations:

RBI Master Circular:

Master Circular - Housing Finance for UCBs

Exposure Draft:

RBI Draft:

Draft Circular on Fair Lending Practice - Penal Charges in Loan Accounts
[Last date for Comments: May 15, 2023] 

Legal Updates:

Income Tax:

Cost of Inflation Index for FY 2023-24 notified [No.21]



Formulation of price bands for the first day of trading pursuant to Initial Public Offering (IPO), re-listing etc. in normal trading session

Direct plan for schemes of Alternative Investment Funds (AIFs) and trail model for distribution commission in AIFs

Guidelines with respect to excusing or excluding an investor from an investment of AIF



Authorised Dealers Category-II - Online submission of Form A2

Framework for acceptance of Green Deposits



Extension of Validity of ANFs and Appendices issued under FTP (2015-20) [Public Notice No.5]

Procedure for obtaining Registration Certificate for import of Isopropyl Alcohol (IPA) subject to Country-wise Quantitative Restrictions (QR) for the year 2023-24 [Public Notice No.4]



Seeks to amend notification No. 55/2022- Customs, dated 31.10.2022, in order to exempt Rice in the husk (paddy or rough), of seed quality, from export duty of 20% [No.30]

Seeks to impose definitive anti-dumping duty on imports of "Ursodeoxycholic Acid (UDCA)" originating in or exported from China PR and Korea RP for a period of 5 Years [No.4(ADD)]

Online filing of AEO-LO application [Circular No.10]

Customs (Waiver of Interest) Second Order, 2023 [Order No.2]


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