Weekly Newsletter from CA Cult – For Latest Updates

Weekly Newsletter from CA Cult – For Latest Updates (4th Week of March 2024)

May this festival of colors fill colors in your life. To every shade of you, We wish a happy and colorful HOLI

Income-tax

1. Gross Direct Tax collections for Financial Year (FY) 2023-24 register a growth of 18.74%.
2. Amendment in Article 13 relating to Royalties and Fees for Technical Services.
3. Directorate of Income Tax (Investigation), Delhi, sets up 24X7 Control Room and toll-free Mobile Number 9868168682 in connection with the General Elections to Lok Sabha, 2024.
4. Notification under section 138 of the Income Tax Act 1961 Government of Uttar Pradesh – NOTIFICATION No. 35/2024.

CBIC

1. Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables.

MCA

1. Notice inviting comments from various stakeholders on draft rules for refund process from IEPF Authority.

DGFT

1. Changes in origin declaration for Self-Certification under UK Developing Countries Trading Scheme (DCTS) – Trade Notice No. 39/2023-24.
2. Amendment in import policy condition of Urea [Exim Code 31021010] in the ITC (HS) 2022, Schedule —1 (Import Policy) – Notification No. 79/2023.
3. Amendments under Interest Equalization Scheme – Trade Notice No. 40/2023-2024.
4. Amendment of policy condition of Crude Oil under HS Code 2709 00 10 – Notification No. 80/2023.
5. Amendment in export policy of Onions – NOTIFICATION No. 81/2023.

RBI

1. All Agency Banks to remain open for public on March 31, 2024 (Sunday).
2. Cut-off time for uploading of GST, ICEGATE and TIN 2.0 luggage files.
3. Omnibus Framework for recognising Self-Regulatory Organisations (SROs) for Regulated Entities (REs) of the Reserve Bank of India.
4. Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2023-24).

SEBI

1. Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA.
2. Safeguards to address the concerns of the investors on transfer of securities in dematerialized mode.
3. Introduction of Beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets.

ICAI

1. Important Announcement – Reschedulement of Chartered Accountant Examinations, May 2024.

Video of the Week

1. Penalty for failure to register certain machines under section 122A: https://www.youtube.com/watch?v=484Zr-KYJ24

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