Weekly Updates from CA Cult (1st Week – December 2022)

Weekly Updates from CA Cult (1st Week- December 2022)

Important Updates from last week:

Income-tax

1. International sporting event notified under section 10(39).

CBIC

1. GST revenue collected for the month of November 2022.
2. Manner of processing and sanction of IGST refunds.
3. Amendment in certain specific FTA/PTA notifications.
4. Improvements in SWIFT: Integration of ICEGATE with AQCS-ICE.

Directorate General of Foreign Trade (DGFT)

1. Extension of validity of Pre-shipment Inspection Agency.
2. Amendment in Appendix 3 (SCOMET Items) to Schedule-2
3. Incorporation of new policy condition against HS Code 1006 4000.

Reserve Bank of India (RBI)

1. Operations  of subsidiaries and branches of Indian banks and AIFIs.
2. Categorization of urban co-operative banks for regulatory purpose.
3. Review of norms for classification of Urban Co-operative Banks.
4. Notification of the Significant Benchmark.

Securities and Exchange Board of India (SEBI)

1. Circular for listing obligations and disclosure requirements.
2. Extension for implementation of Standardized industry classification.
3. Inclusion of Equity Exchange Traded Funds as a list of eligible securities.
4. Net Settlement of Cash Segment and F&O segment upon expiry.
5. Review of timelines for listing of securities.
6. Introduction of credit risk based single issuer limit for investment.
7. Procedure for seeking prior approval for change in control.

OTHER UPDATES:

1. List of Agencies not treated as foreign source.
2. Guidelines for consideration of proposal for acceptance of foreign hospitality.

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Regards,

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