Weekly Newsletter from CA Cult – For Latest Updates (May 2024)

Weekly Newsletter from CA Cult – For Latest Updates (May 2024)

Weekly Newsletter from CA Cult – For Latest Updates (Last Week of May 2024)


  1. Cost Inflation Index for Financial Year 2024-25 – Notification under clause (v) of the Explanation to section 48 of the Income tax Act 1961.
  2. Exemption to RBI under section 206AB and 206CCA of the Income-tax Act, 1961.


  1. Advisory on Launch of the E-Way Bill 2 Portal on 1st June 2024.
  2. Seeks to amend the Notification no. 02/2017-CT dated 19.06.2017 regarding Notifying jurisdiction of Central Tax Officers with effect from 5th August, 2023 – NOTIFICATION No. 10/2024-Central Tax.
  3. Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Records 10% y-o-y growth.


  1. Amendment in Para 2.31 of the Foreign Trade Policy, 2023 and ITC HS 2022 Schedule 1 Import Policy – reg.
  2. Amendment in 4.59 of Handbook of Procedures, 2023 and modification in Standard Input Output Norms (SION) M- 1 to M-7 for export of jewellery – PUBLIC NOTICE No. 05/2024.
  3. Abeyance of Public Notice No. 05/2024 dated 27.05.2024 – PUBLIC NOTICE No. 06/2024.


  1. Issuance of partly paid units to persons resident outside India by investment vehicles under Foreign Exchange Management (Non-debt Instruments) Rules, 2019.
  2. RBI Instructions on the Money Changing Activities.


  1. Industry Standards on verification of market rumours.
  2. Framework for considering unaffected price for transactions upon confirmation of market rumour.
  3. Investor Charter for the Stock Exchanges.


  1. Important dates for Information Systems Audit – Assessment Test (ISA – AT), July 2024.
  2. Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS)- Adv. Information Technology Test – Computer Based Mode (CBT) – June and July 2024.
  3. ICAI to hold 2nd Edition of Startup Sphere Event from June 27-29 in Bengaluru; Aims to facilitate over USD 200 mn funding to startups from Investors.

Videos of the Week

  1. Claim Tax Relief on Salary Arrears u/s 89: https://www.youtube.com/shorts/nkwDtjdKXcw
  2. What are Self-Paced Online Modules? Eligibility for CA Final Examination: https://www.youtube.com/watch?v=-jS_Me4i8yQ

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