Weekly Updates from CA Cult (3rd Week – February 2023)

Weekly Updates from CA Cult (3rd Week – February 2023)

Important Updates from last week:

Income-tax

1. ITR Forms notified for the Assessment Year 2023-24.
2. Form ITR 7 notified for the Assessment Year 2023-24.
3. CBDT notifies Income Tax Return (ITR) Forms for Assessment Year 2023-24 well in advance.
4. Notification on Disclosure of information respecting assessees.

CBIC

1. Introduction of the Negative Values in Table 4 of GSTR-3B.
2. Recommendations of the 49th GST Council Meeting.

MCA

1. MCA important updates dated 13th February 2023.

Directorate General of Foreign Trade (DGFT)

1. Amendment in Export Policy of Biomass – NOTIFICATION No. 58/2015-2020.
2. Procedure for allocation of quota, for year 2023-24, for import of (i) Calcined Pet Coke for Aluminium Industry and (ii) Raw Pet Coke for CPC manufacturing industry –PUBLIC NOTICE No. 57 /2015-20.
3. Enlistment of PSIA under Para 2.55 of Handbook of Procedure 2015-2020 -PUBLIC NOTICE No. 56 /2015-2020.

RBI

1. Formation of new district in the State of Sikkim – Assignment of Lead Bank Responsibility.
2. FAQs on the Digital Lending Guidelines.
3. Reserve Bank of India (RBI) launches its Second Global Hackathon – HARBINGER 2023.
4. Introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems.
5. Draft Guidelines on Minimum Capital Requirements for Market Risk.

Securities and Exchange Board of India (SEBI)

1. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2023.
2. Introduction of Issue Summary Document (ISD) and dissemination of issue advertisements- SEBI Circular.
3. Maintenance of a website by stock brokers and depository participants.
4. Master Circular for Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”).

Institute of Chartered Accountants of India (ICAI)

1. ICAI elects New Torchbearers for the year 2023-24.
2. Commencement of Live Coaching Classes (LCC Batch -7) from 10th March 2023 for the Students of Intermediate Course appearing in November 2023 examination.
3. Setting up Branches of NICASA at Faridabad, Gurugram, Jalandhar, Ludhiana, Panipat, Sangrur, Sonipat- Announcement.
4. LIST OF ORGANIZATIONS PARTICIPATING IN 57th CAMPUS PLACEMENT PROGRAM FEBRUARY-MARCH 2023.
5. Cabinet approves signing of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and The Institute of Chartered Accountants in England & Wales (ICAEW).

UNION BUDGET 2023-24

1. Promoting timely payments to Micro and Small Enterprises.

Videos of the Week:

1. What is CPGrams? Who can use this portal? How to Lodge the Grievance?: https://www.youtube.com/watch?v=PGrX5muRwNk

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