Site icon CA Cult

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

CA Cult

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

Important Updates from last week:

Income-tax

  1. Amendment in the notification on Income-tax Authorities facilitate the conduct of Faceless Assessment proceedings under section 144B of the Income-tax Act.
  2. Karnataka State Building and Other Construction Workers Welfare Board notified under section 10.

CBIC

  1. 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).
  2. 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)
  3. 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)
  4. Seeks to amend notification no. 2/2017-Central Tax (Rate), dated 28.06.2017- NOTIFICATION No. 04/2023-Central Tax (Rate)
  5. Authorization of Booking Post Offices and their corresponding Foreign Post Offices in terms of the Postal Export (Electronic Declaration and Processing) Regulations, 2022-reg.
  6. Completion of Data Entry in DIGIT for uploading on CBIC website under Instructions section.
  7. 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.
  8. 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.
  9. 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.

MCA

  1. Insolvency and Bankruptcy Board of India (IBBI) notified under section 10 of the Income-tax Act, 1961- NOTIFICATION.

Directorate General of Foreign Trade (DGFT)

  1. Amendments in Para 4.42 of the Handbook of Procedures 2015-2020- Public Notice No. 59/2015-20.
  2. Discontinuation of Tariff Rate Quota for Import of Crude Sunflower Seed Oil w.e.f. 01.04.2023 -PUBLIC NOTICE No. 60/ 2015-20.

RBI

  1. 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.
  2. RBI imposes Monetary Penalty on Amazon Pay (India) Private Limited.
  3. Change of date of reversal for operations under LTRO and TLTRO due to holiday.
  4. Sovereign Gold Bond Scheme 2022-23 Series IV – Issue Price.

Securities and Exchange Board of India (SEBI)

  1. Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2023.
  2. Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2023.
  3. Securities and Exchange Board of India (Investor Protection and Education Fund) (Amendment) Regulations, 2023.

Institute of Chartered Accountants of India (ICAI)

  1. 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.
  2. Notification for detachment of Tohana from the Jurisdiction of Hisar Branch- Notification No. 1-CA (7)/206/2023.
  3. Notification for detachment of Rajsamand and places covered under Rajsamand District from the Jurisdiction of Udaipur Branch- NOTIFICATION.

UNION BUDGET 2023-24

  1. Post-Budget Webinar on Union Budget 2023-24.

OTHER UPDATES

  1. Reconstitution of the Advisory Board.
  2. Modification of the terminology “sub-standard lives” mentioned in IRDAI (Health Insurance ) Regulations-2016.
  3. Indian Government Accounting Standard on Prior Period Adjustments.

Videos of the Week:

  1. Timely payments to Micro and Small Enterprises | Section- 43B | MSME Act | Income-tax Act: https://www.youtube.com/watch?v=nP1VXxV7g0s&t=125s
  2. Detailed analysis of TDS and taxability on the net winnings from online games: https://www.youtube.com/watch?v=w_H4vdmDpzg

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA

Exit mobile version