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CAalley Newsletter dated March 31, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

ICAI Announcement

Acts & Regulations:

DGFT Policy

Legal Updates:




News Update:

Indian News:

Govt hikes interest rates on most small saving schemes for June quarter

Compliance period extended from 2 to 3 yrs for 'large corporates': Sebi

Ahead of GST Appellate Tribunal’s launch, an SOP for investigations

'India ready for rupee trade with countries facing currency crises'

Foreign Trade Policy 2023: One-time settlement of default, e-commerce exports, trade payments in rupee key focus areas

Foreign Trade Policy 2023 unveiled, govt breaks tradition of target year

Sebi directs top 100 listed firms to give clarification on market rumours from Oct 1

Sebi sets up Rs 33k-cr corpus for debt MFs hit by market turmoil

IRDAI's new rules to affect PSU insurers, legalises actions of pvt players

Imported drugs for rare diseases to be exempt from customs duty

SEBI greenlights backstop fund for corporate debt market

SEBI strengthens online dispute resolution mechanism in securities market

SEBI pushes norms to ensure better disclosures, boost transparency

Non-resident taxpayers without PAN can file Form 10F manually till September 30


International News:

PCAOB Rulemaking Could Lead to More Timely Issuance of Audit Inspection Reports

US bank deregulation 'may have gone too far': Treasury Secretary

FASB maps ‘one-stop shop’ expense disclosure proposal

From the ICAI:

ICAI Announcement:

ICAI Advisory on Audit Trial Compliance by Clients

Acts & Regulations:

DGFT Policy:

Foreign Trade Policy 2023 - Key Highlights

Legal Updates:


Clarifications on Insider Trading - Comprehensive FAQs on SEBI (PIT) Regulations, 2015

Extension of compliance period – Fund raising by large corporates through issuance of debt securities to the extent of 25% of their incremental borrowings in a financial year



Phased Implementation of Electronic Cash Ledger (ECL) in Customs w.e.f 01.04.2023 [Circular No.9]

Continue/provide health cess exemption on import of goods for use in the manufacture of X-ray machines [No.18]

Continue/provide BCD exemption on import of specific textile machineries parts & raw materials for manufacture of specified goods [No.17]

Amendment of Notification 19 of 2022 Customs NT dated 30.03.2022 [No.19(NT)]

Notification to exempt deposits into ECL till 30th April 2023 [No.18(NT)]

Amendment to Notification No. 61/94-Customs (N.T.) dated 21.11.1994 [No.17(NT)]

Amendment to Notification No. 61/94-Customs (N.T.) dated 21.11.1994 [No.16(NT)]


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