Weekly Updates from CA Cult (2nd Week – July 2023)

Weekly Updates from CA Cult (2nd Week – July 2023)

Important Updates from last week:

Income-tax

1. Check out the Latest updates on the Income-tax Efiling portal.
2. Amendment to the Notification no. 55 of Income-tax published in S.O. 2672(E), dated 26th July, 2019.
3. Clarification on taxability of income earned by a non-resident investor from off-shore investments in an investment fund routed through an Alternative Investment Fund -reg.
4. Provisional figures of Direct Tax collections for FY 2023-24 register steady growth upto 9th July 2023.
5. Notification under section 10(46) of the Income-tax Act in case of Yamuna Expressway Industrial Development Authority.

CBIC

1. Recommendations of 50th meeting of the GST Council.
2. Important Update: Geocoding Functionality Now Live for All States and Union Territories.
3. Transhipment of Cargo to Nepal under Electronic Cargo Tracking System (Amendment) Regulations, 2023.

MCA

1. MCA approves withdrawal of another 7,338 prosecutions pending before various courts under Special Arrears Clearance Drive-II towards promoting Ease of Doing Business and decriminalisation of compoundable offences under Companies Act, 2013.
2. Merger of multiple user IDs in V2 Portal with new User ID in V3.

DGFT

1. Amendments under Para 2.92 and Annexure-V of Appendix-2A of HBP 2023 under India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) – PUBLIC NOTICE No. 21 / 2023.
2. Revision of General Notes regarding Import Policy under Schedule 1(Import Policy) ITC (HS), 2022.
3. Condonation of delay in submission of installation certificate under EPCG Scheme to promote Ease of doing Business – reg.
4. Amendment in import policy and policy condition of Gold Covered under HS code 71131911, 71131919 & 71141910 of Chapter 71 of Schedule –I (Import Policy) of ITC (HS) 2022- NOTIFICATION No. 19 /2023.

RBI

1. RBI and Central Bank of the UAE sign two MoUs to (i) establish a Framework to Promote the Use of Local Currencies for Cross-border Transactions and (ii) cooperation for interlinking their payment and messaging systems.

SEBI

1. Master circular for compliance with the provisions of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015 by listed entities.
2. BRSR Core –Framework for assurance and ESG disclosures for value chain.

ICAI

1. Brochure of 58th Campus Placement Program August-September, 2023.
2. Frequently asked Queries (FAQs) for the participating candidates Campus Placement Programme August-Sept, 2023.
3. FAQs for Organization 58th Campus Placement Program Aug-Sep 2023.
4. ICAI Organizes the Nationwide Tax Clinics.
5. Inviting Public Comments on draft amendments in the Chartered Accountants (CA) Regulations, 1988 arising out of Amendment Act 2022.
6. Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised).
7. Check out the Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November-December, 2023, CA Examinations.

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