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

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

Important Updates from last week:

Income-tax

1. FAQ’s related to filing of the Form 27C are available.
2. Important updates on Income-tax E-filing Portal.
3. Income-tax (Thirty Third Amendment) Rules, 2022.
4. Direct Tax Collections for F.Y. 2022-23 up to 08.10.2022.

CBIC

1. Advisory on Filing TRAN-1/2 Forms to claim Transitional Credit.
2. Clarification regarding time limit for certain compliances pursuant to issuance of Notification No. 18/2022-Central Tax dated 28.09.2022.

MCA

1. Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022.

Directorate General of Foreign Trade (DGFT)

1. Implementation of Notification No. 31/2015-20 dated 08.09.2022 regarding Export of Broken Rice- Trade Notice No. 17/2022-23.
2. Issues related to Export Policy of Rice – Trade Notice No. 18/2022-23.
3. The last Date for applications for TRQs extended: Amendment in Para 2.107 (TRQ under FTA/CECA) of Handbook of Procedure 2015-2020- Public Notice No. 28/2015-20.

Reserve Bank of India (RBI)

1. RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System.
2. Change in the Bank Rate- Circular dated 30th September 2022.
3. Issuance of Concept Note on Central Bank Digital Currency.

Securities and Exchange Board of India (SEBI)

1. Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities-Clarification.

Institute of Chartered Accountants of India (CA Fraternity)

1. Hosting of Multipurpose Empanelment Form (MEF) – 2022-23.
2. ICAI holds Convocation Ceremony at 14 locations across the Country.

OTHER UPDATES:

1. Extension of the validity of FCRA Registration Certificates.
2. FAQs on the Foreign Contribution Regulation.
3. Minister asks Chartered Accountants of India to strive to take Indian Chartered Accountancy Firms to the global level.
4. The Credit Guarantee Scheme for Startups (CGSS).

Blog of the Week:

1. The applicability of E-invoicing and other important provisions: https://cacult.com/applicability-of-e-invoicing-and-other-important-provisions/

Videos of the week: 

1. E-invoicing for aggregate turnover exceeding Rs 10 crore w.e.f. 1st October 2022: https://www.youtube.com/watch?v=R0g-rFodTIg

Check out our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA