Weekly Updates from CA Cult (Last Week of December 2023)
Weekly Updates from CA Cult (Last Week of December 2023)
Important Updates from last week:
- Income-tax (Thirtieth Amendment) Rules, 2023.
- Notification under clause (23FE) of section 10 of Income tax Act 1961 in case of Ravenna Investments Holding.
- CBDT issues guidelines under section 194-O of the Income-tax Act, 1961 Vide CBDT Circular No. 20/2023 dated 28.12.2023.
- Advisory on the Date extension for reporting opening balance for ITC reversal.
- Extension of limitation under Section 168A of CGST Act – NOTIFICATION No. 56/2023- Central Tax.
- Amendment in the Sea Cargo Manifest and Transhipment Regulations 2018- Notification No. 94/2023-Customs (N.T.).
- Clarification regarding submission of particulars and declaration by the insolvency professionals in the application filed by creditor(s) in Part IV of Form C of the IRP PGCD Rules.
- Reminder for offering suggestions to simplify, ease and reduce cost of compliance of Regulations notified under the Insolvency and Bankruptcy Code, 2016.
- Extension in “Free” Import Policy of Urad [Beans of the SPP Vigna Mungo (L.) Hepper] [ITC(HS) 0713 31 10] and Tur/Pigeon Peas (Cajanus Cajan) [ITC(HS) 0713 60 00] under ITC (HS) 2022, Schedule – I (Import Policy) till 31.03.2025 – NOTIFICATION No. 54 /2023.
- Rationalisation of Licensing Framework for Authorised Persons (APs) under Foreign Exchange Management Act (FEMA), 1999.
- Reserve Bank of India (RBI) (Government Securities Lending) Directions, 2023.
- Amendments in the Master Direction- Lending to Micro, Small & Medium Enterprises (MSME) Sector.
- MHP Exemption for the Transfer of Receivables.
- Reserve Bank of India (RBI) (Financial Benchmark Administrators) Directions, 2023.
- RBI releases Draft Directions on Bond Forwards under Section 45W of the RBI Act, 1934.
- Fair Lending Practice – Penal Charges in Loan Accounts: Extension of Timeline for Implementation of Instructions.
- Payments Infrastructure Development Fund – Extension of Scheme and Enhancements.
- Extension of timelines for providing ‘choice of nomination’ in eligible demat accounts and mutual fund folios.
- Framework on the Social Stock Exchange (“SSE”).
- Settlement of Running Account of Client’s Funds lying with Trading Member (TM).
- Empanelment of Chartered Accountant firms/LLPs for the year 2024-25.
- Clarification regarding Guidelines issued by RBI for Appointment of SCAs/SAs of Commercial Banks (Excluding RRBs), UCBs and NBFCs (including HFCs).
- Commencement of 1st Physical Batch of the Certificate Course on “Executive Master Program-New Age Auditors”.
- SAFA Best Presented Annual Report Awards, Integrated Reporting Awards & SAARC Anniversary Awards for Corporate Governance Disclosure 2022.
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