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Highlights from team CA Cult (October 2021- Fourth Week)

CA Cult

Weekly Key Highlights from team CA Cult (October 2021- Fourth Week)

Important Updates from last week:

Central Board of Direct Taxes (CBDT)

  1. The income-tax portal will not be accessible due to maintenance.

Central Board of Indirect Taxes & Customs (CBIC)

  1. Availability of Input Tax Credit (ITC) for FY 2020-21.
  2. Advisory for taxpayers on Form GSTR-2B.
  3. Government revokes the anti-dumping duty imposed on “Phenol”.

Corporate Law

  1. Last date of filing of Cost Audit Report to the Board of Directors.

Directorate General of Foreign Trade (DGFT)

  1. Extension of date for Mandatory Electronic Filing of Non-Preferential Certificate of Origin (COO) through the Common Digital Platform to 31st October 2021- Trade Notice No. 21/2021-22.
  2. Enlistment under Appendix 2E to issue Certificate of Origin (Non – Preferential) for All India Jurisdiction- Public Notice No. 29/2015-20.
  3. Enlistment of Agency(ies) under Appendix 2E of FTP, 2015-2020 – authorized to issue Certificate of Origin (Non-Preferential) – Public Notice No. 30/2015-20.

Reserve Bank of India (RBI)

  1. RBI imposes Monetary Penalty on two Payment System Operators.
  2. FAQs on Micro, Small and Medium Enterprises (Updated as on October 1, 2021).
  3. Foreign Exchange Management (Debt Instruments) (First Amendment) Regulations, 2021.
  4. RBI releases draft Master Direction on Prudential Regulation for AIFIs – 2021.

Securities and Exchange Board of India (SEBI)

  1. Transmission of Securities to joint Holder(s).
  2. Modalities for filing of placement memorandum through a Merchant Banker under SEBI (Alternative Investment Funds) Regulations, 2012.
  3. Amendment to SEBI Circulars pertaining to Investor Grievance Redressal System and Arbitration Mechanism.
  4. Amendment to SEBI Circular pertaining to Investor Protection Fund (IPF)/ Investor Service Fund (ISF)and its related matters.

Institute of Chartered Accountants of India (CA Fraternity)

  1. Final Lists of Candidates for election to the Twenty Fifth Council and Twenty Fourth Regional Councils to be held in December 2021.
  2. Announcement on Multipurpose Empanelment Form 2021-22.
  3. Announcement for setting up Branch of EICASA at Brahmapur.
  4. Request for Proposal (RFP) Designing, Printing and Dispatch of monthly ICAI Journal: ‘’The Chartered Accountant”.
  5. Re-opening of Online Empanelment- Important Announcement.
  6. Announcement – Launch of ‘Certificate Course in Indian Accounting Standards (Ind AS)’ (Online Batch 30).
  7. Format for Filing Election Expenses – Regional Council.
  8. Filing of account of expenses incurred for election to the Council.
  9. Mock Test Papers Series – II for December 2021 CA Examination.

Other Updates

  1. Income-tax Department’s searches in NCR, Haryana & WB reveal large scale under-invoicing of imports.
  2. Maintenance of Current Accounts in multiple banks by Insurers.
  3. Income Tax Department conducts searches on groups engaged in the business of Digital Marketing & Waste Management.
  4. UIDAI to host “Aadhaar Hackathon 2021” from 28th October to 31st October.
  5. Notaries (Second Amendment) Rules, 2021- Notification.
  6. EPFO adds 14.81 lakh net subscribers in August.
  7. Export of Egg and Egg Products (Quality Control, Inspection and Monitoring) Rules, 2021- NOTIFICATION.
  8. Public utility service in respect of banking industry.
  9. Extension of medical benefit to the families of insured persons.

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

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