Weekly Updates from CA Cult (4th Week – February 2023)
Weekly Updates from CA Cult (4th Week – February 2023)
Important Updates from last week:
- CBDT notifies Income Tax Return (ITR) Forms for Assessment Year 2023-24 well in advance.
- The Income-tax Amendment (3rd Amendment) Rules, 2023.
- Advisory on opting for the payment of tax under the forward charge mechanism by a Goods Transport Agency (GTA).
- Advisory on the New e-Invoice Portal.
- Advisory on Geocoding of Address of Principal Place of Business.
- As recommended in the 49th GST Council Meeting, Late fee for Annual return in FORM GSTR-9 for FY 2022-23 onwards for registered persons having aggregate turnover in a financial year upto Rs 20 crore.
- Seeks to exempt BCD on ships/ vessels for breaking up- NOTIFICATION No. 13/2023-Customs.
- Extension of Time for filing of 45 company e-Forms, PAS-03 and SPICE+ Part A in MCA 21 Version 3.0 without additional fee -reg.
- Filing of Forms GNL-2 (filing of prospectus related documents and private placement), MGT-14 (filing of Resolutions relating to prospectus related documents and private placement), PAS-3 (Allotment of Shares), SH-8 (letter of offer for buyback of own shares or other securities), SH-9 (Declaration of Solvency) and SH-11 (Return in respect of buy-back of securities) due to migration from V2 Version to V3 Version in MCA 21 Portal from 22.02.2023 to 31.03.2023-reg.
Directorate General of Foreign Trade (DGFT)
- Amendment in Import Policy condition of Cashew Kernels (broken/ whole)- NOTIFICATION No. 59/2015-2020.
- One time relaxation for furnishing additional fee to cover excess imports affected under the Export Promotion Capital Goods Scheme to promote Ease of Doing Business – PUBLIC NOTICE No. 58 /2015-2020.
- Implementation of Indian Accounting Standards (Ind AS).
- Honorable Prime Ministers of India and Singapore Launch Real-time Payment Systems Linkage between the Two Countries.
- Extending UPI for Inbound Travellers to India.
Securities and Exchange Board of India (SEBI)
- Advisory for SEBI Regulated Entities (REs) regarding Cybersecurity best practices.
Institute of Chartered Accountants of India (ICAI)
- Setting up of a Branch of Central India Regional Council in Satna District (Madhya Pradesh).
- TDS and taxability on the net winnings from online games.
Videos of the Week:
- What is CPGrams? Who can use this portal? How to Lodge the Grievance?: https://www.youtube.com/watch?v=PGrX5muRwNk
- Detailed analysis of TDS and taxability on the net winnings from online games: https://www.youtube.com/watch?v=w_H4vdmDpzg
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