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Weekly Updates from CA Cult (2nd Week-December 2022)

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Weekly Updates from CA Cult (2nd Week-December 2022)

Important Updates from last week:

Income-tax

  1. All PAN holders, who do not come under the exempt category as per Notification No. 37/2017, dated 11th May, 2017 and have not linked their Aadhaar with PAN yet, are requested to do so immediately. Failure to do so will lead to the unlinked PAN becoming inoperative.

CBIC

  1. Postal Export (Electronic Declaration and Processing) Regulations, 2022.
  2. Exports by Post (Amendment) Regulations, 2022.

MCA

  1. Company Secretaries (Election to the Council) (Amendment) Rules, 2022.

Directorate General of Foreign Trade (DGFT)

  1. Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme gets extended to Chemicals, Pharmaceuticals and Articles of Iron & Steel from 15.12.2022.
  2. Amendment in Import Policy Condition for de-notifying MMTC as a STE for import of Copra under Chapter 12 of ITC (HS), 2022, Schedule-I (Import Policy)- NOTIFICATION No. 48 /2015-2020.
  3. Enlistment of an Agency under Appendix 2E of FTP, 2015-2020 – authorized to issue Certificate of Origin (Non-preferential) – PUBLIC NOTICE No. 42 /2015-2020.
  4. Revision / updation of Appendix -2J – List of State Trading Enterprises (STEs) for FTP purpose and eligible STEs for allocation of quota for import under the Tariff Rate Quota (TRQ)- Public Notice No. 40 /2015-2020.
  5. Amendment in Para 2.61 of Hand Book of Procedure (HBP) 2015-20 – Public Notice No. 41/2015-20.
  6. Export Policy of Red Sanders wood exclusively sourced from cultivated origin obtained from private land (including Pattaland)- Notification No. 49/2015-20.

Reserve Bank of India (RBI)

  1. Liquidity Adjustment Facility – Change in rates.
  2. Bank Rate is revised upwards by 35 basis points– Change in Bank Rate.
  3. Standing Liquidity Facility for Primary Dealers.
  4. The revised trading hours for the markets- RBI Extends Market Trading Hours.

Securities and Exchange Board of India (SEBI)

  1. Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Seventh Amendment) Regulations, 2022.
  2. Securities and Exchange Board of India (SEBI) (Procedure for Board Meetings) (Amendment) Regulations, 2022.
  3. Foreign investment in Alternative Investment Funds (AIFs).
  4. Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS) (‘debt listed entities’)

Institute of Chartered Accountants of India (ICAI)

  1. Notification for Online Assessment Test (AT) for Certificate Course on Forex and Treasury Management (FXTM) on 17th & 18th December 2022. – 10:00 AM to 1:00 PM.
  2. ICAI submits Pre-Budget Memoranda-2023.
  3. ICAI – An Outsanding Accounting Educator.
  4. ICAI Letter to Editor: Deccan Herald dated December 5, 2022 – Article titled “Don’t rely on Insurance Agents or CAs for financial advise” published on 05.12.2022.

Insurance Regulatory and Development Authority of India (IRDAI)

  1. Insurance Regulatory and Development Authority of India (IRDAI) (Insurance Intermediaries) (Amendment) Regulations, 2022.
  2. Insurance Regulatory and Development Authority of India (IRDAI) (Regulatory Sandbox) (Amendment) Regulations, 2022.
  3. Insurance Regulatory and Development Authority of India (Actuarial Report and Abstract for Life Insurance Business) (Amendment) Regulations, 2022.
  4. Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of General Insurance Business) (Amendment) Regulations, 2022.

OTHER UPDATES:

  1. Public Procurement Policy for Micro and Small Enterprises (MSEs) Amendment Order, 2022.
  2. Revised Rule 43A on Work from Home- SEZ.

Video of the Week: Pan will become Inoperative after this timeline: https://www.youtube.com/watch?v=qSsdSHVhI_s

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

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