Weekly Updates from CA Cult (3rd Week-November)
Weekly Updates from CA Cult (3rd Week-November 2022)
Important Updates from last week:
- Amendments in notification No.61/2022 dated the 10th June, 2022 issued by CBDT.
- Co-browsing feature is now available for the taxpayer.
- Public Investment Fund notified under section 10(23FE) of the Income tax Act, 1961.
- Clarification on refund related issues-reg.
- Guidelines for verifying the Transitional Credit in light of the order of the Hon’ble Supreme Court in the Union of India vs. Filco Trade Centre Pvt. Ltd., SLP(C) No. 32709- 32710/2018, order dated 22.07.2022 & 02.09.2022-reg.
- Amendment in GSTR-9 – Notification No. 22/2022–Central Tax.
- Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude- Notification No. 38/2022-Central Excise.
- Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on Diesel- Notification No. 39/2022-Central Excise.
- Exemption of goods from the duty of customs- Notification No. 57/2022-Customs.
- Restricted entry of food items in under specific ports.
- Requirement of Registration of foreign food manufacturing facilities.
- Government withdraws export duty on Steel.
- Amendment to the Notification on Quality Review Board.
- BE(A)WARE booklet on measures the public should take to overcome fraudulent schemes.
Directorate General of Foreign Trade (DGFT)
- Allocation of quantity 5841 MT (raw/refined) Sugar by EU for export from India under TRQ for the year 2022-23 & allocation of quantity 8606 MTRV raw cane sugar by USA for export from India under TRQ scheme for US fiscal year 2023 – Public Notice No. 36/2015-20.
- Relief in Average Export Obligation in terms of Para 5.19 of Hand Book of Procedures of Foreign Trade Policy, 2015-20- Policy Circular No. 44/2015-20.
- Export of Red Sanders wood by Forest Environment & Climate Change Department, Government of Odisha – Extension of time regarding- Notification No. 44/2015-20.
- Agency Commission for Direct Tax collection under TIN 2.0 regime.
- Exim Bank’s GoI supported Line of Credit of USD 300 Mn to the SBM (Mauritius) Infrastructure Development Company Ltd. for Construction of Phase-IV of the Mauritius Metro Express Project in Mauritius.
- Amendment in Nationalised Banks Management and Miscellaneous Provisions Scheme 1970 and 1980.
- Formation of new districts in the State of Nagaland – Assignment of Lead Bank Responsibility.
Securities and Exchange Board of India (SEBI)
- Registration and regulatory framework for Online Bond Platform Providers (OBPPs).
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2022.
- Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2022.
- Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2022.
- Guidelines for AIFs for declaration of first close, calculation of tenure and change of sponsor/manager or change in control of sponsor/manager.
- Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/Non-convertible Redeemable Preference shares (NCRPS).
Institute of Chartered Accountants of India (CA Fraternity)
- ICAI is ecstatic to host A Carbon Neutral World Congress of Accountants for the first time in India.
- Registration for Online Home-Based Practical Training Assessment.
- The 21st World Congress of Accountants unveils in Mumbai.
OTHER UPDATES:
- Amendment in the Export of Salt Rules.
- Regarding the use of out-of-date Operating System (OS) and IT Equipments.
- Implementation of the ESI Act in Several Areas.
- University Grants Commission (Categorization of Universities (only) for Grant of Graded Autonomy) (First Amendment) Regulations, 2022.
Video of the Week: What is Common Income Tax Return (ITR) Form?: https://www.youtube.com/watch?v=YQpog_Mu9J8
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