CAalley Newsletter for the week ending April 19, 2023
Latest additions to CAalley:
News Update:
Exposure Draft:
Useful Forms:
Legal Updates:
News Update:
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
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
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:
Audit Enforcement Procedures: Consultation on proposed amendments 2023
[Last date for Comments: May 5, 2023
Useful Forms:
MCA eForms Updated as on April 19, 2023
Legal Updates:
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)
Circular on WMD & UAPA nodal officer
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)]