Weekly important updates from CA Cult (Aug-Sept 2022)

Weekly important updates from CA Cult (Aug-Sept 2022)

Weekly Updates from CA Cult (Aug-Sept 2022)

Important Updates from last week


  1. Amendment in Rule 114BB of Income tax Rules, 1962.


  1. Changes in Table 4 of GSTR 3B – Reporting of ITC availment, reversal and Ineligible ITC.
  2. Supreme Court allows 4 weeks extension to open common portal for Tran 1 & Tran 2.
  3. Faceless Assessment – Standard Examination Orders through RMS – Phase 1, Part 1 reg.
  4. Exempt specified items imported by designated airlines. Seeks to further amend notification no. 130/2010-Customs dated 23rd December, 2010 via Notification No. 45/2022-Customs.
  5. Seeks to amend notification Nos. 48/2021 and 49/2021 – Customs, both dated 13.10.2021, in order to extend the existing concessional import duties on specified edible oils up to and inclusive of the 31st March, 2023- Notification No.46/2022-Customs.
  6. Notification No. 26/2022-Customs (ADD)-Seeks to extend the levy of ADD on Jute Products originating in or exported from Nepal and Bangladesh.
  7. Seeks to amend the eighth schedule to the Finance Act, 2002 to revise the duty on Aviation Turbine Fuel- Notification No. 25/2022-Central Excise.
  8. Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude and increase Special Additional Excise Duty export of Aviation Turbine Fuel- Notification No. 26/2022-Central Excise.
  9. Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to increase the Special Additional Excise Duty on export of Diesel- Notification No. 27/2022-Central Excise.
  10. Seeks to amend No. 10/2022-Central Excise, dated the 30th June, 2022 , to increase the road and infrastructure cesas on export of Diesel- Notification No. 28/2022-Central Excise.


  1. MCA Updated E-form DIR-3-KYC and web-form DIR-3-KYC-WEB.
  2. MCA has updated Form DPT-3 and DPT-4- These rules may be called Companies (Acceptance of Deposits) Amendment Rules, 2022.
  3. New Rule 13 inserted in the Registration of Charges rules. These Rules may be called Companies (Registration of Charges) Second Amendment Rules, 2022.
  4. Appointment of Member in the Appellate Authority under the CA Act, 1949.
  5. Revision of fees applicable for Limited Insolvency Examination and Valuation Examinations.

Directorate General of Foreign Trade (DGFT)

  1. Amendment in Para 2.107 (TRQ under FTA/CECA) of Handbook of Procedure 2015-2020- PUBLIC NOTICE No. 23 /2015-2020.
  2. Circulation of proposed amendment in Category 5B of SCOMET List related to export of Drones/UAVs and General Authorization for Export of Drones/UAVs (GAED), a SCOMET item for public/Industry comments.
  3. Extension of Date for Mandatory electronic filing of Non-Preferential Certificate of Origin (NP CoO) through the Common Digital Platform to 31st March 2023 –Trade Notice No. 15/2022-23.

Reserve Bank of India (RBI)

  1. Digitalisation of Rural Finance in India – Pilot for Kisan Credit Card (KCC) Lending developed by the Reserve Bank Innovation Hub.
  2. Guidelines on the Digital Lending.

Securities and Exchange Board of India (SEBI)

  1. Performance/return claimed by unregulated platforms offering algorithmic strategies for trading.

Insurance Regulatory and Development Authority of India (IRDAI)

  1. Guidelines on Information and Cyber Security.
  2. Appointment or Continuation of Common Director(s) u/s 48A of Insurance Act, 1938.

Institute of Chartered Accountants of India (CA Fraternity)

  1. Mock Test Papers Series – I for November 2022 CA Examination.
  2. ICAI requests its members to remit annual fees 2022-23.
  3. ICAI Announces the formation of SRO for Social Stock Exchange.
  4. Submission of Online Examination Application Forms for Chartered Accountants Examinations, November 2022.
  5. Board of Studies is organising a Live Webinar “BoS For Your Success” Plan, Prepare & Perform on 1st September 10 AM onwards for students of Intermediate & Final courses appearing in November 2022 exams.
  6. MCA 21 Version 3- LLP filing and Company Filing for 9 Forms– Issues/ Feedback (If any)- Initiative of the Corporate Laws & Corporate Governance Committee of ICAI.
  8. List of Members who have exercised option under Rule 5 of the Chartered Accountants (Election to the Council) Rules, 2006 – i.e. Change of Polling Booth within the Region.

Video of the Week:

  1. New option of Tax Payment via UPI and Credit Card: https://www.youtube.com/shorts/BVAJM3OQBGo

Check out our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA

CA Cult