Weekly Updates from CA Cult (4th Week of April 2023)
Weekly Updates from CA Cult (4th Week of April 2023)
Important Updates from last week:
- Notification under section 35 of the Income-tax Act, 1961.
- Advisory on the Bank Account Validation.
- New facility to verify document Reference Number (RFN) mentioned on offline communications issued by State GST authorities.
- Online filing of AEO-LO applications: Launch of Version 3.0 of web- application for filing, real-time monitoring, and digital certification- reg.
- Amending Customs Notifications to implement the “Amnesty Scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders” notified by DGFT- NOTIFICATION No. 32/2023-Customs.
- NFRA examines proposals on new standard for accounting of insurance contracts viz. Ind AS 117.
- Companies (Indian Accounting Standards) Amendment Rules, 2023.
- MCA update on delay in obtaining Certificate of Incorporation
Directorate General of Foreign Trade (DGFT)
- Amendment in Para 4.12 (vi) of the Handbook of Procedures, 2023- Public Notice No. 09/2023.
- The Appendices & Aayat Niryat Forms of Foreign Trade Policy, 2023, are hereby notified.
- Amendment in details of an authorized agency under Appendix 2E of FTP 2023 – PUBLIC NOTICE No. 11 /2023.
- Review of General Credit Card (GCC) Facility.
Securities and Exchange Board of India (SEBI)
- Bank Guarantees (BGs) created out of clients’ funds.
- Modifications in the requirement of filing of Offer Documents by Mutual Funds.
- Procedure for implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 –Directions to stock exchanges and registered intermediaries.
- SEBI Master Circular for the Custodians.
Institute of Chartered Accountants of India (ICAI)
- Re-Scheduling of Chartered Accountants Examination scheduled to be held on 10th May 2023 (Wednesday) at the Examinations Centre at Jalandhar (Punjab) and Jharsuguda (Odisha).
OTHER UPDATES:
- Shri Narayan Rane launches the revamped CGTMSE Scheme
Videos of the Week:
- Important Updates under the New Tax Regime: https://www.youtube.com/watch?v=wKnfcTfC2YE
- How to claim Tax Credit for income earned outside India?: https://www.youtube.com/watch?v=vV6lh5sviHs
- E-verify your Return of Income (ITR) after 120 Days: https://www.youtube.com/watch?v=YoVgbwELD58
- Amendment u/s 10AA introduced in Finance Bill 2023: https://www.youtube.com/watch?v=VouJaIDXmjw
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