Weekly Updates from CA Cult (3rd Week- Sept 2022)
Weekly Updates from CA Cult (3rd Week- Sept 2022)
Important Updates from last week:
- Recent Updates on the Income tax E-filing.
- Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961.
- Form 52A, rule 121A to be furnished under section 285B of the income tax act.
- Guidelines for Compounding of Offences under the Income-Tax Act, 1961.
- Module wise new functionalities deployed on the GST Portal for taxpayers.
- Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022.
- Customs procedure for export of cargo in closed containers from ICDs to Bangladesh using Inland Waterways.
- Electronic Duty Credit Ledger (Amendment) Regulations, 2022.
- Excise Duty on the Petroleum Products.
- Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2022.
- Companies (Specification of definition details) Amendment Rules, 2022.
- Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022.
Directorate General of Foreign Trade (DGFT)
- Inclusion of/ changes made in provisions in continuation to Public Notice No. 10/2015-20 dated 24.05.2022 and Public Notice No. 15/2015-20 dated 14.06.2022- PUBLIC NOTICE No. 24/ 2015-20.
- Amendment in Import Policy Condition under Chapter 39 of ITC (HS), 2022, Schedule – I (Import Policy)- NOTIFICATION No. 32/2015-2020.
- Insertion of Para 2.54(d) under the Foreign Trade Policy in sync with RBI A.P.(DIR Series) Circular No.10 dated 11th July 2022 – Notification No. 33/2015-20.
- Review of the Prudential Norms – Risk Weights for Exposures guaranteed by Credit Guarantee Schemes (CGS).
Securities and Exchange Board of India (SEBI)
- Master Circular on Surveillance of Securities Market.
- The Securities and Exchange Board of India (SEBI), having considered the application for renewal of recognition.
Insurance Regulatory and Development Authority of India (IRDAI)
- Revision of the Health Insurance Regulatory Returns.
Institute of Chartered Accountants of India (CA Fraternity)
- Exposure Draft of Standard on Sustainability Assurance Engagements (SSAE) 3000 – SRSB, ICAI.
- MANDATORY EVALUATION OF THE AUDIT QUALITY MATURITY OF THE FIRMS USING REVISED AUDIT QUALITY MATURITY MODEL (AQMM Rev v1.0).
- Extension of Last Date for Online Empanelment of Members to act as Observers for November/ December 2022 Examinations up to 20th September 2022.
OTHER UPDATES:
- Details of matters pending with Supreme Court of India and various High Courts.
- Draft notification to promote ease of doing business and transparency in the sale and purchase of registered vehicles through dealers.
Video of the Week:
- Taxability of alimony in case of Divorce (Separation): https://www.youtube.com/watch?v=8656tSSGPWQ&t=32s
- Important Update on Offline payment of TDS/TCS Challans: https://www.youtube.com/shorts/jO8_zCFkbMg
- Withdrawal functionality of 15CB forms at e-filing portal: https://www.youtube.com/shorts/b5Jr92taOY0
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