Weekly Newsletter from CA Cult – For Latest Updates

Weekly Newsletter from CA Cult – For Latest Updates

Weekly Newsletter from CA Cult – For Latest Updates (2nd Week of March 2024)

Income-tax

  1. Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24.

CBIC

  1. Encouraging Women participation in International Trade –reg.
  2. Inclusion of gender specific infrastructure facilities to be provided by the Custodian CCSP-CFS/AFS/ICD under the HCCAR, 2009-reg.
  3. Seeks to amend No. 50/2017-Customs, dated the 30th June, 2017 to give concession to EVs imported under of the Ministry of Heavy Industries’ Scheme to promote manufacturing of electric passenger cars in India – Notification No. 19/2024-Customs.
  4. Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables.
  5. MHA decides to extend financial support of 50% on GST on purchase of goods from Kendriya Police Kalyan Bhandar as a welfare measure, the decision to be effective from 1st April 2024.

MCA

  1. Deposit and withdrawal of unclaimed dividends and / or undistributed proceeds in accordance with regulation 46 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations).

DGFT

  1. Amendment in Import Policy condition for Raw Pet Coke and Calcined Pet Coke under Chapter 27 of Schedule-I (Import Policy) of ITC (HS) 2022 -Notification No. 68 /2023.
  2. Enabling provisions for import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders and EOU – Notification No. 69 /2023.
  3. Enabling provisions for import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders, EOU and SEZ – Notification No. 71 /2023.
  4. Amendment in export Policy of Human Biological Samples under Chapter-30 of ITC HS schedule-2 of export policy – NOTIFICATION No. 72/2023.
  5. Incorporation of Policy condition for export of Chitin, Chitosan, Chitosan Salts, Chitosan Salts (Chitosan Hydrochloride, Chitosan Acetate, Chitosan Lactate) and Chitosan Derivatives (Chitosan Succinamide) – Notification No.73/2023.
  6. RODTEP implementation for exports of products manufactured by AA holders (except Deemed Exports) and EOU for 166 Tariff lines – Notification No: 74/2023.
  7. Imposition of Minimum Export Price (MEP) on export of Honey – Notification No. 75/2023.
  8. Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 15th September 2024 – NOTIFICATION No. 77/2023.
  9. Amendment in Import Policy Condition for Duck Meat under Chapter 2 of ITC (HS) 2022, Schedule–I (Import Policy) – NOTIFICATION No. 78/2023.
  10. Import of Menthol covered under ITC(HS) codes: 29061100, 30039021, 33012590 and 33012400 under Advance Authorisation/DFIA – Public Notice No. 48 /2023.
  11. Procedure for Import Allocation for the Financial Year 2024-25, for import of Calcined Petroleum Coke for Aluminium Industry and Raw Petroleum Coke for CPC manufacturing industry – Public Notice No. 49/2023.
  12. Amendments in Para 4.14 and 4.06 of the Handbook of Procedures 2023 – Public Notice No. 51 /2023.

RBI

  1. Amendment to the Master Direction on Credit Card and Debit Card – Issuance and Conduct Directions, 2022.

SEBI

  1. Repeal of circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014, involving offer / allotment of securities to more than 49 but up to 200 investors in a financial year.

ICAI

  1. Success at CA. Exam BoS Sessions starting from 18th March for CA. Final & Intermediate students appearing in May 2024 Examinations.
  2. Revised Applicability of Peer Review Mandate (Phase II & III).
  3. Due to Lok Sabha Election the examination will get rescheduled.
  4. ICAI announces Major Changes in Examination System shaping the Future of Accountancy Profession.

Videos of the Week

  1. Residential Status under Income Tax Act: https://www.youtube.com/watch?v=rflpjKzefkI

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