Weekly Updates from CA Cult (1st Week of December 2023)
Weekly Updates from CA Cult (1st Week of December 2023)
Important Updates from last week:
- Godavari River Management Board notified under section 10(46) of the Income-tax Act, 1961.
- Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Andhra Pradesh.
- Advisory on the Two-factor Authentication for Taxpayers.
- GST Revenue collection for November 2023, at ₹1,67,929 lakh crore records highest growth rate of 15% Y-o-Y.
- Seeks to exempt imports of Yellow Peas [HS 0713 10 10] from applicable BCD and AIDC up to 31.03.2024 – NOTIFICATION No. 64/2023-Customs.
- The Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2023 issued on December 08, 2023.
- Amnesty Scheme – Closure of cases of default in Export Obligation under Advance Authorisation and EPCG Schemes where applications have been filed with PRC/EPCG Committee for relaxation in policy/procedure on grounds of genuine hardship/adverse impact on trade – Trade Notice No. 35/2023-24.
- Incorporation of Policy Condition for export of Non-basmati rice under HS Code 10063090 – NOTIFICATION No. 47/2023.
- Export of Non-basmati White Rice (under HS Code 10063090) to Comoros, Madagascar, Equatorial Guinea, Egypt and Kenya through National Cooperative Exports Limited (NCEL) – NOTIFICATION No. 48/2023.
- Amendment in export policy of Onions – NOTIFICATION No. 49/2023.
- Amendment of Import Policy and Policy Conditions for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC(HS), 2022, Schedule –I (Import Policy) – NOTIFICATION No. 50/2023.
- Amendment in Export policy of De-Oiled Rice Bran – NOTIFICATION No. 51/2023.
- Reserve Bank of India (RBI) and Bank of England sign a Memorandum of Understanding on cooperation and exchange of information related to Clearing Corporation of India Limited.
- The Sovereign Gold Bond Scheme (SGBs) 2023-24.
- Extension of timeline for implementation of provisions of circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 on Redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to Online Dispute Resolution platform.
- Revised framework for computation of Net Distributable Cash Flow (NDCF) by Infrastructure Investment Trusts (InvITs).
- Revised framework for computation of Net Distributable Cash Flow (NDCF) by Real Estate Investment Trusts (REITs).
- Expression of Interest for empanelment of subject experts at the Foundation, Intermediate and Final levels of the CA course and Self-paced Online Modules.
- Information Systems Audit – Assessment Test (ISA – AT), January 2024.
- Commencement of BOS Live Learning Classes (LLC Batch – 1) under the New Scheme from 18th December for the students of Foundation course appearing in June 2024 examination.
- Notified reporting entity under section 11A of the Prevention of Money-laundering Act (PMLA) 2002.
Videoes of the Week:
- What is Discard Return on Income-tax E-filing Portal and its features : https://www.youtube.com/watch?v=DKmWqPQBUR0
- Gifts received on Marriage / Wedding | Tax liability | Income-tax : https://www.youtube.com/watch?v=sE5kjmGsfCo
- Send money abroad from NRO Account | Foreign Remittance | Documents & Charges – Part – III: https://www.youtube.com/watch?v=GAy9As9XnfU
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