Newsletter from CA Cult – For Latest Updates (December 2024)

Weekly Newsletter from CA Cult – For Latest Updates (1st Week of December 2024)

Income-tax

1. Extension of due date for furnishing ITR to 15th December 2024 in the case of an assessee who is required to furnish a report referred to in section 92E for the A Y 2024-25- reg.

CBIC

1. Seeks to withdraw Special Additional Excise Duty (SAED) on production of Petroleum Crude and on export of Aviation Turbine Fuel, motor spirit, commonly known as petrol, and high speed diesel oil – Notification No.29/2024-Central Excise.
2. Seeks to withdraw Road and Infrastructure Cess (RIC) on export of motor spirit, commonly known as petrol, and high speed diesel oil – Notification No.30/2024-Central Excise.
3. Advisory on mandatory Sequential Filing of GSTR-7 Returns as per Notification No. 17/2024.

MCA

1. Ministry of Corporate Affairs has taken several steps to improve ease of doing business and enhance ease of compliance.

DGFT

1. Export of Broken Rice to Senegal and Gambia through National Cooperative Exports Limited (NCEL) -reg.
2. Launch of Revamped Preferential Certificate of Origin (eCoO) 2.0 System – Trade Notice No. 23/2024-25.

RBI

1. UPI : Revolutionizing Digital Payments in India Processed over 16 billion transactions worth ₹23.49 Lakh Crores in October 2024.
2. Inoperative Accounts / Unclaimed Deposits in banks.
3. Enhanced limits for the UPI Lite transactions.
4. Interest Rates on Foreign Currency (Non-resident) Accounts (Banks) FCNR(B) Deposits.

SEBI

1. SMS and E-mail alerts to investors by stock exchanges.

ICAI

1. Complete ban on canvassing 24 hours before commencement of polling and during polling day(s) – ICAI Election 2024.

Blog of the Week:

1. Amendment in Banking Regulation Law 2024: A Focus on Auditor Remuneration

Videos of the Week:

1. Extension of due date for furnishing ITR to 15th December 2024: https://www.youtube.com/shorts/u7N63EYUars
2. Reduction or waiver of Interest: https://www.youtube.com/watch?v=pUvu5j_x_d0
3. Extension for furnishing return of income for AY 2024-25: https://www.youtube.com/shorts/YsJiQ4hfSks

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