Weekly Updates from CA Cult (3rd Week-December 2022)

Weekly Updates from CA Cult (3rd Week-December 2022)

Important Updates from last week:

Income-tax

1. CBDT Circular No. 24/2022 on Income-tax deduction (TDS) from salaries during the Financial Year 2022-23 under section 192 of the Income-tax Act, 1961.
2. Partial relaxation with respect to electronic submission of Form 10F by select category of taxpayers in accordance with the DGIT (Systems) Notification No. 3 Of 2022.

CBIC

1. CBIC celebrates completion of 60 years of Customs Act, 1962.
2. Notification on service tax payable under section 66B – NOTIFICATION No. 01/2022-Service Tax.
3. Extension of the due date of furnishing FORM GSTR1 for the month of November 2022 for registered persons whose principal place of business is in certain districts of Tamil Nadu- NOTIFICATION No. 25/2022- Central Tax.
4. Advisory regarding extension of due date for furnishing form GSTR-1 for certain districts of Tamil Nadu.
5. Recommendation of the 48th Meeting of the GST Council.

MCA

1. Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022.

Directorate General of Foreign Trade (DGFT)

1. Amendment in Appendix 4J of Handbook of Procedures 2015-20- Public Notice No. 43/2015-20.

Reserve Bank of India (RBI)

1. Central Bank Digital Currency (CBDC) pilot launched by the RBI in retail segment has components based on blockchain technology.
2. RBI Notification on Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions.
3. Master Direction – Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022.
4. Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures.
5. Reserve Bank of India (RBI) (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of material items.
6. Sovereign Gold Bond Scheme 2022-23.
7. Sovereign Gold Bond Scheme 2022-23 Series III – Issue Price.

Securities and Exchange Board of India (SEBI)

1. Performance Benchmarking and Reporting of Performance by Portfolio Managers.
2. Framework for Orderly Winding Down of Critical Operations and Services of a Clearing Corporation.
3. Applicability of SEBI circular on Principles of Financial Market Infrastructures (PFMIs) to AMC Repo Clearing Limited.

Institute of Chartered Accountants of India (ICAI)

1. Observations of the candidates on the question papers of CA Foundation examinations- December 2022.
2. Brochure of 57th Campus Placement Program 2023.
3. Announcement for Candidates 57th Campus Placement Program Feb-Mar 2023.
4. Frequently asked Queries (FAQs) by the participating recruiting entities – 57th Campus Placement Program Feb-Mar 2023.
5. Implementation Guide to SA 230, Audit Documentation (Revised 2022 Edition).
6. ICAI MSME Yatra enters India Book of Records.

OTHER UPDATES:

1. Foreign Investment in the MSMEs sector.

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

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