Weekly Updates from CA Cult (1st Week – March 2023)
Weekly Updates from CA Cult (1st Week – March 2023)
Important Updates from last week:
- Amendment in the notification on Income-tax Authorities facilitate the conduct of Faceless Assessment proceedings under section 144B of the Income-tax Act.
- Karnataka State Building and Other Construction Workers Welfare Board notified under section 10.
- Seeks to amend notification No. 12/2017- Central Tax (Rate) so as to notify change in GST with regards to services as recommended by GST Council in its 49th meeting held on 18.02.2023- NOTIFICATION No.01/2023-Central Tax (Rate).
- Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to notify change in GST with regards to services as recommended by GST Council in its 49th meeting held on 18.02.2023- NOTIFICATION No. 02/2023-Central Tax (Rate)
- Change in GST rate on the Pencil sharpeners (Seeks to amend notification no. 1/2017-Central Tax (Rate), dated 28.06.2017) via Notification No. 03/2023-Central Tax (Rate)
- Seeks to amend notification no. 2/2017-Central Tax (Rate), dated 28.06.2017- NOTIFICATION No. 04/2023-Central Tax (Rate)
- Authorization of Booking Post Offices and their corresponding Foreign Post Offices in terms of the Postal Export (Electronic Declaration and Processing) Regulations, 2022-reg.
- Completion of Data Entry in DIGIT for uploading on CBIC website under Instructions section.
- Leviability of Service Tax on the declared service “Agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act” under clause (e) of section 66E of the Finance Act, 1994.
- Seeks to amend notification No. 30/2022- Customs, dated 24.05.2022, in order to discontinue the specified TRQ rate after the 31st March 2023- Notification No. 15/2023-Customs.
- Seeks to amend notification No. 50/2017- Customs, dated 30.06.2017, in order to reduce the BCD on Tur Whole to Nil- Notification No. 16/2023-Customs.
- Insolvency and Bankruptcy Board of India (IBBI) notified under section 10 of the Income-tax Act, 1961- NOTIFICATION.
Directorate General of Foreign Trade (DGFT)
- Amendments in Para 4.42 of the Handbook of Procedures 2015-2020- Public Notice No. 59/2015-20.
- Discontinuation of Tariff Rate Quota for Import of Crude Sunflower Seed Oil w.e.f. 01.04.2023 -PUBLIC NOTICE No. 60/ 2015-20.
- Designation of 1 individual and 2 organisations under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act, 1967 and their listing in the Fourth and First Schedule of the Act- Reg.
- RBI imposes Monetary Penalty on Amazon Pay (India) Private Limited.
- Change of date of reversal for operations under LTRO and TLTRO due to holiday.
- Sovereign Gold Bond Scheme 2022-23 Series IV – Issue Price.
Securities and Exchange Board of India (SEBI)
- Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2023.
- Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2023.
- Securities and Exchange Board of India (Investor Protection and Education Fund) (Amendment) Regulations, 2023.
Institute of Chartered Accountants of India (ICAI)
- Mock Test Papers Series – I for CA Final & Intermediate May 2023 Examinations The Board of Studies (A) is commencing Mock Test Papers Series – I from March 13th 2023 for students appearing for CA Final & Intermediate May 2023 examinations.
- Notification for detachment of Tohana from the Jurisdiction of Hisar Branch- Notification No. 1-CA (7)/206/2023.
- Notification for detachment of Rajsamand and places covered under Rajsamand District from the Jurisdiction of Udaipur Branch- NOTIFICATION.
- Post-Budget Webinar on Union Budget 2023-24.
OTHER UPDATES
- Reconstitution of the Advisory Board.
- Modification of the terminology “sub-standard lives” mentioned in IRDAI (Health Insurance ) Regulations-2016.
- Indian Government Accounting Standard on Prior Period Adjustments.
Videos of the Week:
- Timely payments to Micro and Small Enterprises | Section- 43B | MSME Act | Income-tax Act: https://www.youtube.com/watch?v=nP1VXxV7g0s&t=125s
- Detailed analysis of TDS and taxability on the net winnings from online games: https://www.youtube.com/watch?v=w_H4vdmDpzg
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