Weekly Updates from CA Cult (4th Week – March 2023)
Weekly Updates from CA Cult (4th Week – March 2023)
Important Updates from last week:
- 72,42,156 is the highest number of ITR filing in a day on 31st July 2022.
- Notification under section 120 of the Income-tax Act.
- Roll out of ‘AIS for Taxpayer’ Mobile App.
- Advisory for the taxpayer wishing to register as “One Person Company” in GST.
- HSN Code Reporting in e-Invoice on the IRPs Portal.
- Central Government establishes a Centre for Processing Accelerated Corporate Exit (hereinafter referred to as C-PACE).
Directorate General of Foreign Trade (DGFT)
- Procedure for Registration Certificate for import of marble and Fresh (green) Areca Nut from Bhutan without Minimum Import Price condition – Public Notice No. 61/2015-20.
- Amendment in import policy condition of Urea [Exim Code 31021000] in the ITC (HS) 2022, Schedule – I (Import Policy) – NOTIFICATION No. 61 /2015-2020.
- Amendments in Export Policy of Bio-fuels under Chapter 27 of Schedule 2 (Export Policy) ITC (HS) classification of Export and Import – NOTIFICATION No. 62/2015-2020.
- Amendment in conditions of the Standard Input Output Norms (SION) at E-136 for export of wheat flour – PUBLIC NOTICE No. 62 /2015-2020.
- Inclusion of 18 HS Codes under Heading 5208 in Appendix 4R for RoDTEP – Notification No. 63/2015-2020.
- Reporting and Accounting of Central Government transactions for March 2023.
Securities and Exchange Board of India (SEBI)
- Master Circular for the Portfolio Managers.
- E-wallet investments in the Mutual Funds.
- Master Circular on Surveillance of Securities Market.
Institute of Chartered Accountants of India (ICAI)
- LIST OF ORGANIZATIONS PARTICIPATING IN THE SMALL CENTER 57th CAMPUS PLACEMENT PROGRAM FEBRUARY-MARCH 2023.
- Exposure Draft of Guidance Note on the Transfer of Capital Reserve (Last date of comments: 20th April, 2023).
- Implementation of Know your Member (KYM) Form.
OTHER UPDATES
- Unemployment rate of graduate degree holders shows a declining trend as per the annual PLFS reports.
- Demonetisation and its effect on Indian economy.
- Amendments made to the scheme of Credit Guarantee Fund for Micro Units.
- Public Notice dated 24th March 2023 regarding extension of the validity of FCRA registration certificates.
- Maintenance of Books of Accounts and their retention period under different Acts / Laws: https://cacult.com/maintenance-of-books-of-accounts-under-the-different-acts/
- Important changes in Form 26AS from AY 2023-24 onwards: https://cacult.com/important-changes-in-form-26as-from-ay-2023-24-onwards/
Videos of the Week:
- How to check your Annual Information Statement on Income-tax portal and Other Important aspects: https://www.youtube.com/watch?v=ngKvwKXBAec
- New way to Check your Income-tax related Financial transactions: https://www.youtube.com/watch?v=iP3estMcIX8
- Maintenance of Books of Accounts and their retention period under different Acts: https://www.youtube.com/watch?v=rPwelQZzH7A
- Attention Taxpayers! Major changes in Form 26AS and AIS Report: https://www.youtube.com/watch?v=DRCxk1svi_w
- Introduction of KYM Application Form by the ICAI: https://www.youtube.com/watch?v=0XrSIlHChHE
- Important compliance to be done on or before 31st March 2023: https://www.youtube.com/watch?v=IKmbXJU6seQ
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA
