Weekly Updates from CA Cult (3rd Week of June 2023)

Weekly Updates from CA Cult (3rd Week of June 2023)

Important Updates from last week:

Income-tax

1. INCOME TAX DEPARTMENT CONDUCTS SEARCH AND SURVEY OPERATIONS ON LUXURY REAL ESTATE DEVELOPERS.
2. Income tax Form No. 34C to Form No. 34EA substituted.
3. The e-advance rulings (Amendment) Scheme, 2023.
4. Cost Inflation Index for the Financial Year 2023-24.
5. Special Courts in the State of Jharkhand.

CBIC

1. Webinar on ‘e-Invoicing and Invoice Registration Portals (IRPs)’.
2. DGGI Gurugram officials bust ITC racket involving 461 shell entities with fraudulently claiming Rs 863 crore, 2 held.
3. Seeks to further amend 48/2021-Customs dated 14.06.2023 to reduce BCD on Refined Soya Bean Oil and Refined Sunflower oil to 12.5% – Notification No. 39/2023-Customs.
4. Simplified regulatory framework for e-commerce exports of Jewellery through Courier mode –Reg.

MCA

1. Notification under Section 14 of Insolvency and Bankruptcy Code (IBC), 2016.

DGFT

1. Amendment in Import Policy and Policy Condition of Copra under ITC (HS) Code 12030000 of Chapter 12 of ITC (HS), 2022, Schedule-I, Import Policy – Notification No. 11/2023.
2. Amendment in Appendix 2X of FTP, 2023 – Public Notice No. 14/2023.

RBI

1. Sovereign Gold Bond Scheme 2023-24.

SEBI

1. Regulatory framework for Execution Only Platforms for facilitating transactions in direct plans of schemes of Mutual Funds.
2. Corrigendum to Circular on Participation of Mutual funds in repo transactions on Corporate Debt Securities dated June 8, 2023.
3. Amendment to Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) /Obligations of Securities Market Intermediaries under the Prevention of Money-laundering Act, 2002 and Rules framed there under.
4. Adherence to provisions of regulation 51A of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 by Online Bond Platform Providers on product offerings on Online Bond Platforms.

ICAI

1. Call for Papers – International Finance and Accounting Conference being organised by ICAI & IIM Jammu.

IRDAI

1. Reporting of Cyber Security Incidents by Regulated Entities.

Video of the Week: Important point for transactions with group entities. What is Arm’s Length Price?

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