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

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

Important Updates from last week:

Central Board of Direct Taxes (CBDT)

1. Assam Building and Other Construction Workers Welfare Board –Notification under clause (46) of section 10 of the Income-tax Act, 1961.

Central Board of Indirect Taxes & Customs (CBIC)

1. Guidelines for disallowing debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017.
2. Allowing Centralised registration for Petroleum Crude- NOTIFICATION No. 02/2021-Central Excise (N.T.).
3. Amendments in the fourth schedule of Delhi Value Added Tax (DVAT).
4. CBIC launches online digital application for scheduling of examination of cargo for traders at ICD Tughlakabad, Delhi.
5. Seeks to impose ADD on Imports of Untreated Fumed Silica from China PR – Notification No. 66 /2021 -Customs (ADD).
6. Clarification in respect of the master circular no. 1053/02/2017-cx.
7. Procedures for a refund of excise duty on the purchase of petrol/diesel/fuel oil by Diplomatic Missions and their officers for their official /personal use.
8. Rescind the notification no. 34/2016 Customs (ADD) 14th July, 2016.
9. Seeks to impose ADD on “measuring tapes” originating in or exported from Singapore and Cambodia- Notification No. 67/2021-Customs (ADD).

Corporate Law

1. Central Government hereby revises the tenure of Justice Retd Shri A I S Cheema as Judicial Member, National Company Law Appellate Tribunal.
2. Investor Education and Protection Fund Authority (IEPFA) (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2021.
3. Consultation Paper on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs) – extension of last date for submission of comments to 30th November 2021- NFRA.
4. Ministry of Corporate Affairs and IEPFA further simplify IEPFA Claim Settlement Process towards Ease of Doing Business and Ease of Living
5. PUBLIC NOTICE ON DISQUALIFICATION OF DINs.

Directorate General of Foreign Trade (DGFT)

1. Amendment in Export Policy of Animal By-products- Notification No. 41/2015-20.
2. Amendment in Para 4.42(3) of Foreign Trade Policy 2015-20- Notification No. 42/2015-20.
3. Re-constitution of Committee for RoDTEP- Trade Notice No. 23/2021-21.
4. Enlistment of PSIA as per para 2.55 (d) of HBP 2015-2020- Public Notice No. 34/2015-2020.
5. Enlistment of Agency(ies) and amendment in details under Appendix 2E of FTP, 2015-2020 – authorized to issue Certificate of Origin (Non-Preferential) – Public Notice No. 35/2015-20.
6. Amendment in Appendix 1A of Foreign Trade Policy, 2015-20- Public Notice No. 36/2015-20.

Reserve Bank of India (RBI)

1. Investment by Foreign Portfolio Investors (FPIs) in Debt – Review.
2. RBI launches its First Global Hackathon – HARBINGER 2021.
3. PM to launch two innovative customer-centric initiatives of RBI on 12 November.
4. Exim Bank’s Government of India supported Line of Credit (LoC) of USD 10.40 million to the Government of the Kingdom of Eswatini (Swaziland).
5. Foreign Currency (Non-resident) Accounts (Banks) Scheme [FCNR(B)] – Master Direction on Interest Rate on Deposits.
6. Integrated Ombudsman Scheme, 2021 by Reserve Bank of India.
7. Auction of Government Securities: Non-Competitive Bidding Facility to retail investors.
8. Clarification on Prudential norms by RBI.
9. Auction of Government of India Securities.
10. Auction of Treasury bills.

Securities and Exchange Board of India (SEBI)

1. Write-off of debt securities held by FPIs who intend to surrender their registration.
2. SEBI Chairman to inaugurate SEBI Pavilion at India International Trade Fair, New Delhi.
3. SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2021.
4. SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) (FIFTH AMENDMENT) REGULATIONS, 2021.
5. SECURITIES AND EXCHANGE BOARD OF INDIA (MUTUAL FUNDS) (THIRD AMENDMENT) REGULATIONS, 2021.
6. SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) (PORTFOLIO MANAGERS) (FOURTH AMENDMENT) REGULATIONS, 2021.

Institute of Chartered Accountants of India (CA Fraternity)

1. REQUEST FORMAT FOR CHANGE OF POLLING BOOTH.
2. Difficulty in exercising the option to get polling booth re-allotted.
3. Admissible number of votes to a Voter and Ballot paper.
4. Single Transferable Vote – An apprisal.
5. Appeal to Candidates- Elections 2021.
6. Address for Polling centers – Region wise.
7. List of candidates and their respective particulars for election to the Council and Regional Councils to be held in December 2021.
8. Result of the online Examination of the Certificate Course on Financial Market and Securities Laws held on 23rd & 24th Oct, 2021.
9. Result of the online Examination of the Certificate Course on Fundamental Analysis and Technical Analysis including Equity Research held on 30th & 31st Oct 2021.
10. CSR Committee of ICAI announces certification course on CSR- Announcement.
11. Important dates for Advanced Information Technology Test.
12. Live Coaching Classes (LCC) Batch -4 commencing from 8th December 2021 for Students of Foundation Course appearing in June 2022 Examination.
13. ANNOUNCEMENT FOR EXTENSION OF THE LAST DATE FOR SUBMITTING MEF 2021-22 FROM NOVEMBER 10 TO NOVEMBER 20, 2021.
14. Important Guidelines for Examination Centres, Examination functionaries and Candidates for December 2021 CA Examinations in wake of ongoing pandemic Novel Corona Virus (Covid-19).

Other Updates

1. AADHAAR (AUTHENTICATION AND OFFLINE VERIFICATION) REGULATIONS, 2021.
2. National Internet Exchange of India launches ‘Digital Payment Gateway’.
3. 7 States meet the target for capital expenditure upto Q-2 of 2021-22.
4. Custom officials arrest 2 people with 12.9kg of heroin worth Rs 90 crore at IGI airport.
5. Health Sector Grant of Rs.8,453.92 crore released to Local Bodies of 19 States.

Contributions of the Week

1. What is baggage under the Customs Act, 1962?

Compliance Calendar: https://cacult.com/calendar-2/

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