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Highlights from team CA Cult (June 2021- Second Week)

CA Cult

Weekly Key Highlights from team CA Cult (June 2021- Second Week)

Important Updates from last week:

Central Board of Direct Taxes (CBDT):

  1. DSC needs to be re-register on the new e-filing portal.
  2. Highlights of the new e-filing portal.
  3. CBDT notifies under section 35 of the Income-tax Act.
  4. CBDT notifies Income-tax (17th Amendment) Rules 2021 regarding TDS.
  5. CBDT notifies Competition Commission of India under section 10(46) of the Income-tax Act, 1961.

Central Board of Indirect Taxes & Customs (CBIC):

GST

  1. Relief to taxpayers, regarding late fee, for delay in filing Form GSTR-3B returns.
  2. Upcoming functionalities to be deployed on GST Portal for the Taxpayers.
  3. Advisory on Table-12 of GSTR-1.

Customs

  1. Amend notification No. 23/2016-Customs (ADD) dated 6th June, 2016 to extend the levy of Anti-Dumping duty on Polytetrafluoroethylene originating in or exported from Russia, up to and inclusive of 31st October, 2021- Notification No. 32/2021 -Customs (ADD).
  2. Amend notification No. 6/2016-Customs (ADD) dated 8th March, 2016 to extend the levy of Anti-Dumping duty on Phenol originating in or exported from European Union and Singapore, up to and inclusive of 31st October, 2021- Notification No. 33/2021 -Customs (ADD)

Corporate Law:

  1. IBBI Communication to IPs on invitation of EoI [Empanelment of IPs for AA for July 1, 2021 To December 31, 2021].
  2. Invitation of application for the post of Chairperson in the Insolvency and Bankruptcy Board of India established under the Insolvency and Bankruptcy Code, 2016.
  3. Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation), Guidelines, 2021 [Guidelines] – Extension of last date for submission of Expression of Interest (EOI).
  4. Invitation of application for 10th Advanced IP Workshop for Insolvency Professionals to be held on 25th June, 2021.
  5. Companies (Incorporation) Fourth Amendment Rules 2021.
  6. MCA amends Investor Education and Protection Fund Rules.
  7. Amendment in Rule 38A of the Companies (Incorporation) Rules, 2014.

Reserve Bank of India (RBI):

  1. Transactions in Government securities by Foreign Portfolio Investors (FPI): Reporting.
  2. Preservation of CCTV recordings notified by the RBI.
  3. RBI notification on Risk Based Internal Audit (RBIA).
  4. Usage of Automated Teller Machines / Cash Recycler Machines – Review of Interchange Fee and Customer Charges.
  5. FAQ on -Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs).

Securities and Exchange Board of India (SEBI):

  1. Potential Risk Class Matrix for debt schemes based on Interest Rate Risk and Credit Risk.
  2. SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) REGULATIONS, 2021.

Institute of Chartered Accountants of India (CA Fraternity):

  1. Foundation Examination have been postponed.
  2. REVISED SCHEDULE OF CHARTERED ACCOUNTANT FOUNDATION EXAMINATIONS, JUNE / JULY 2021.
  3. Important Announcement – Re-opening of Correction Window.
  4. Important Announcement – Schedule of May/July 2021 Examination.
  5. Postponement of Special Examination for Members.
  6. Guidelines for Examination Centres, Examination functionaries and Candidates for July 2021 CA Examinations in wake of ongoing pandemic Novel Corona Virus (Covid-19).
  7. One-time Golden Opportunity for CA Final Exam passed students – Complete virtual MCS/Adv. ITT any-time any-where and become a member of ICAI.
  8. CSR Committee of ICAI proudly announces 6th batch of Certificate Course on CSR through online mode, for members of ICAI.
  9. Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) – Adv. Information Technology Test on 30th June 2021.
  10. Important Dates for CA Examination (Centre Change Window).
  11. Important Exam Announcement by ICAI dated 09th June 2021.
  12. ICAI Announced 2nd Online Batch of Certificate Course on Derivatives from 18th June 2021.
  13. Live Coaching Classes (LCC) Batch -3 commencing from 12th July 2021 for Students of Foundation course appearing in Nov 2021 examination.
  14. ICAI Sustainability Reporting Awards for Excellence in Sustainability Reporting 2020-21 organized by SRSB – ICAI (Last Date: October 31st, 2021).
  15. Register for Digital Audit Tools Free of Cost- An Initiative by CMP, ICAI.

Other Updates:

  1. Medical benefit shall be extended to the families of insured- ESI Notifications.
  2. Notice to extend the provisions of Employees’ State Insurance Act to the classes of establishments specified in the schedule- NOTIFICATION.
  3. National Financial Reporting Authority seeks comments/suggestions from public and stakeholders on consultation paper on NFRA’s engagement with its stakeholders.
  4. Aadhaar authentication of beneficiaries on the National Portal for Credit Linked Government Schemes- NOTIFICATION.

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