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CAalley Newsletter dated March 16, 2023

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Latest additions to CAalley:

News Update:

Indian News

Budget News

International News

Exposure Draft:

FASB Draft

Legal Updates:




News Update:

Indian News:

EPFO plans explainer to ‘demystify’ SC order on higher pensions

A four-member GST appellate tribunal likely in each state to streamline dispute resolution

Accounting audit trail mandatory from April; to make it easier to find financial irregularities

New foreign trade policy may be released by end of this month: Commerce Secretary

Industrialists seek relief from CGST dept

Realtors want govt to rationalise GST on under-construction properties in a bid to encourage sales

Jayant Sinha to introduce Competition (Amendment) Bill 2023 on Friday

RBI, UAE central bank sign MoU on interoperability of their CBDCs

Bar Council permits foreign law firms to practice in select fields in India

SEBI empowered to frame rules and update them as required: Govt tells Parliament

CAG wants Rajasthan govt not to abandon treasury system of accounting

RBI asks banks to review contracts with fintechs


Budget News:

India govt unlikely to roll back tax plan on high-value life insurance


International News:

IASB improves approach to developing disclosure requirements

ECB backs big rate hike despite bank chaos

FASB proposes enhancements to income tax disclosures

After SVB, cash is once again king, ex-CFO says

KPMG stands by audits of Silicon Valley Bank and Signature Bank

KPMG Under Pressure After Clean Audits of SVB, Signature Bank

Exposure Draft:

FASB Draft:

Proposed Accounting Standards Update
Income Taxes (Topic 740)
Improvements to Income Tax Disclosures

[Last date for Comments: May 30, 2023]

Legal Updates:


Reporting and Accounting of Central Government transactions for March 2023



Exchange rate dated 16.03.2023 [No.15(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.14(NT)]


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