caalley logo

The alley for Indian Chartered Accountants

CAalley Newsletter for the week ending April 19, 2023

Go to Newsletter Archives

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

FRC Draft

Useful Forms:

MCA eForms

Legal Updates:

Income Tax








Central Excise


News Update:

Indian News:

IGST sections are valid: HC referral bench

No input tax credit: Intra-co services GST a pain

Trading of Nifty index set to shift from Singapore exchange to GIFT City platform

Exam jitters grip finance pros as Sebi mandates certification

After insurance firms, now private banks under income tax scanner

India reimposes windfall tax on crude oil, levy on diesel exports scrapped

No proposal before govt on capital gains tax, says Income Tax dept

Appeal by firm can be heard even without certified copy of order: HC

Employee services from branch office to head office, and vice versa to attract 18 pc GST: AAR

AP: CAs move HC challenging CID's notices

I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity

CBI arrests Income Tax officer for helping colleague escape during Gujarat ACB bribery trap

Government eyes higher capital gains tax for rich to curb inequality

Expert group may seek quick recap of MDBs

Scammers targeting users while they file income tax return, beware of new tax SMS scam

DGFT lays out procedure for exporters to apply for amnesty scheme

Google withdraws appeal in SC against NCLAT in anti-competition case

Stricter rules against shell companies on the anvil

Sebi comes out with dispute resolution mechanism for Limited Purpose Clearing Corporation

PwC India to invest ₹600 crore in people development in next 3 years

CBIC may soon introduce automated system of publishing daily exchange rates for 22 currencies

New data processing unit to streamline corp filings

SEBI cracks down on Brightcom Group for accounting irregularities

RBI's norms on outsourcing IT services will improve corporate governance

New foreign trade policy tightens norms on ‘gift’ imports

NFRA imposes ban, fine on DHFL branch auditors

FinMin plans ₹3,000 cr. additional capital infusion in PSU general insurance cos in FY24

What is ‘Dabba trading’ and how does it affect the economy?

Any action on crypto assets will have to be global: Nirmala Sitharaman

Government plans to introduce bills to amend companies, insolvency laws in Parliament's monsoon session

Delhi HC upholds notifications imposing GST on Ola, Uber auto rides

Firms with Rs 100 cr turnover have to upload e-invoices within 7 days

Higher EPS Pension: Allow contribution towards higher pension without proof, Kerala HC tells EPFO

Rupee trade arrangement to help reduce transactions cost, says Piyush Goyal

Report on health cover for 'missing middle' soon: Irdai

'RBI's proposal to regulate bank penal charges could dent lenders revenues'

Can't use penal charges to up revenue: RBI to lenders

Reserve Bank of India proposes threshold for penal charges on loans


International News:

PCAOB reveals priorities for 2023 inspections

Dubai court orders KPMG to pay $231mn for Abraaj fund audit failure

Businesses must evaluate long-term assets’ economic lives

ICEAW: How should we redefine accounting?

KPMG fined 875,000 pounds for failures in Luceco audit

FASB Issues New Accounting Rules for Investments in Tax Credit Structures

UK: Government to review outdated whistleblowing laws

KPMG, Goldman Sachs Faulted in Investor Suit Over SVB Failure

Exposure Draft:

FRC Draft:

Audit Enforcement Procedures: Consultation on proposed amendments 2023
[Last date for Comments: May 5, 2023


Useful Forms:

MCA eForms:

MCA eForms Updated as on April 19, 2023

Legal Updates:

Income Tax:

Amendments to section 10 - Computation of Value of Perquisites - retrospective [No.22]



GST Updated Advisory: Time limit for Reporting Invoices on the IRP Portal

Advisory: Time limit for Reporting Invoices on the IRP Portal



Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2023



The Competition (Amendment) Act, 2023



Dispute Resolution Mechanism for Limited Purpose Clearing Corporation (LPCC)

Contribution by eligible Issuers of debt securities to the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation for repo transactions in debt securities



Circular on WMD & UAPA nodal officer



Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders – Amendment [Public Notice No.7

Procedure for applying for Amnesty scheme for one-time settlement of default in export obligation by Advance and EPCG authorization holders [Circular No.1]

Amendments in Annexure-IV under Appendix-2A (Imports of Items under TRQ under India- UAE CEPA) [Public Notice No.6]

New HSN Codes for Technical Textiles items in ITC(HS), 2022 Schedule -I (Import Policy) [Trade Notice No.2]



Registration of Importers as per provision of Plastic Waste Management Rules, 2016, as amended [Instruction No.14]

Customs (Waiver of Interest) Third Order, 2023 [Order No.3]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.28(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.19]

Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude [No.18]


Read more on:
Don't miss an update!
Subscribe to our newsletter