Weekly Newsletter from CA Cult – For Latest Updates

Weekly Newsletter from CA Cult – For Latest Updates

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

Income-tax

  1. Clarification regarding applicability of new tax regime and old tax regime.
  2. Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024.
  3. Time limit for verification of return of income after uploading- reg.
  4. Recent Updates on the Income-tax E-filing Portal.

CBIC

  1. Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis).
  2. Advisory on the Self Enablement For e-Invoicing.

DGFT

  1. Export of 1,000 MT of Kala Namak rice under HS Code 1006 30 90 – NOTIFICATION No. 01 /2023.
  2. Export of Onions (under HS code 0703 10 19) to UAE – NOTIFICATION No. 02/2023.
  3. Supply of essential commodities to the Republic of Maldives during 2024-25 – NOTIFICATION No. 03/2023.
  4. Extension in import period for Yellow Peas under ITC (HS) Code 07131010 of Chapter 07 of ITC (HS), 2022, Schedule –I (Import Policy) – NOTIFICATION No. 04/2023.
  5. Amendment in Import Policy Condition for Melon Seeds under ITC (HS) Code 1207 70 90 of Chapter-12 of ITC (HS), 2022, Schedule-I (Import Policy) – NOTIFICATION No. 05/2023.
  6. Directives regarding submission of digitized ANFs, Appendices etc.

RBI

  1. Scheme for Payment of Pension to Central Government Pensioners by Authorised Banks.

SEBI

  1. SCORES 2.0 New Technology to strengthen SEBI Complaint Redressal System for Investors.
  2. SEBI obtains ISO/IEC 27001:2022 Certification for its Information Security Management Systems.

ICAI

  1. Notification for Online Assessment Test (AT) for Certificate Course on Forensic Accounting and Fraud Detection (FAFD) on Saturday, the 04th May, 2024.

OTHER UPDATE

  1. Clarity in Choices: FSSAI advises E-Commerce Platforms to ensure appropriate categorization of food products sold on their websites.

Videos of the Week

  1. Important Update | Filing of ITR under Old Tax Regime for F.Y. 2023-24: https://www.youtube.com/shorts/rl9M2XmMyII
  2. Important Changes in Income Tax Return (ITR) Form for Claiming Deduction under section 80DD and 80U: https://www.youtube.com/watch?v=6VOgfYXHoXw
  3. What is the difference between Form 26QB and 27Q?: https://www.youtube.com/watch?v=pMrQajCV7lU
  4. Penalty for failure to register certain machines under section 122A: https://www.youtube.com/watch?v=484Zr-KYJ24

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CA Cult