Weekly Updates from CA Cult (1st Week – January 2023)

Weekly Updates from CA Cult (1st Week – January 2023)

Happy New Year 2023

Important Updates from last week:

Income-tax

1. New Banks Migrated at e-Filing Portal.

CBIC

1. Rs 1,49,507 crore GST Revenue collected for December 2022, records increase of 15% Year-on-Year.
2. Customs airports – Appointment for specified purposes- NOTIFICATION No. 01/2023-Customs (N.T.).
3. Seeks to extend levy of Anti-Dumping Duty (ADD) on Fishing Net originating in or exported from China PR- Notification No. 01/2023-Customs (ADD).
4. To assign powers of Superintendent of central tax to Additional Assistant Directors in DGGI, DGGST and DG Audit- NOTIFICATION No 01/2023-Central Tax.

MCA

1. Final Panel of IPs prepared in accordance with ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022’ for the period from January 1, 2023 to June 30, 2023.
2. Stakeholders please note that PAS-3 form will be available for filing purposes in V2 till 19th January 2023 11:59 PM.
3. This is to inform you due to planned maintenance activity site will not be available between 7th-Jan-2023 00:00 AM to 8th-Jan-2023 11:59 PM.

Directorate General of Foreign Trade (DGFT)

1. Amendments to para 2.56 of Handbook of Procedure and addition of agencies to Appendix 2G- Public Notice No. 48 /2015-2020.

Reserve Bank of India (RBI)

1. RBI releases 2022 list of Domestic Systemically Important Banks (D-SIBs).
2. Foreign Investment in India – Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal.
3. Periodic Updation of the KYC details of Customers.
4. Regulatory Sandbox (RS) – Fourth Cohort on Prevention and Mitigation of Financial Frauds – Test Phase.
5. Formation of new districts in the State of Chhattisgarh – Assignment of Lead Bank Responsibility.
6. Issuance Calendar for Marketable Sovereign Green Bonds: FY 2022-23.

Securities and Exchange Board of India (SEBI)

1. Relaxation from compliance with certain provisions of the SEBI (LODR) (Listing Obligations and Disclosure Requirements) Regulations, 2015 –Reg.
2. Limited relaxation –dispatch of physical copies of financial statements etc. –Regulation 58 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
3. Monitoring and Periodical reporting of the compliance with the requirements pertaining to ‘Security and Covenant Monitoring’ system hosted by Depositories.
4. Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’system hosted by Depositories.
5. Management and advisory services by AMCs to Foreign Portfolio Investors.
6. Operational Circular for Credit Rating Agencies.

Institute of Chartered Accountants of India (ICAI)

1. Draft Bank Branch Auditors’ Panel (MEF) for the year 2022-23.
2. Empanelment of Chartered Accountant firms/LLPs for the year 2023-24.
3. Results of the CA Final and Intermediate Examination November 2022.
4. National Education Summit on Commerce & Accountancy.

Other Updates:

1. UIDAI enables ‘Head of Family’ based online address update in Aadhaar.
2. Rate of Interest under Special Deposit Scheme.
3. First Advance Estimates of National Income, 2022-23.

Videos of the Week: How GST Route in Day-to-Day life ? How GST impact the profit Margin of Business Enterprises ?: https://www.youtube.com/watch?v=b27QFsliIsM

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