Daily Newsletter - April 21, 2025

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

From the ICAI:

ICAI Reference Materials

Legal Updates:

RBI

SEBI

DGFT

Customs

 

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News Update:

Indian News:

RBI directs banks to increase run-off rates for digital deposits

India to impose 12% temporary tariff on steel to curb cheap China imports

Google agrees to pay Rs 20.24 crore to CCI in Android TV settlement case

GST body drops Rs 115 cr from tax demand against Mahindra & Mahindra

Officers find 25K fake firms fraudulently passing ₹61,545 cr ITC in FY25

New 'e-Pay Tax' feature eases online tax payments: A step-by-step guide

First phase of India-US trade deal likely by fall this year: Sitharaman

New Tax Bill 2025: No Nil TDS certificate for all taxpayers including NRIs; What does it mean for Indians and NRIs?

Chartered Accountant Arrested for Accepting Bribe in Kerala

Eversource looks to buy BluSmart for ₹800-1K cr, seeks Jaggi brothers' exit

Sebi finds only 2-3 labourers, no EV production at Gensol's Pune unit

India-US trade pact's terms of reference includes about 19 chapters: Report

Big rejig: Key ministries to see new appointments

Cybersecurity adoption measures: Sebi tells banks to share updates

Top auditors divided on their responsibility to detect Gensol-type frauds; ICAI yet to order probe

  

International News:

Urgent action needed to improve audit regulation, warns CPA Australia

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Exposure Drafts:

SEBI Drafts:

Draft Circular - Limited relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
[Last date for Comments: May 12, 2025] 

Draft Circular on 'Amendments to Master Circular on Online Resolution of Disputes in the Indian Securities Market'
[Last date for Comments: May 12, 2025] 

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From the ICAI:

ICAI Reference Materials for "New Formats for Financial Statements":

Guidance Note on Financial Statements of Non-Corporate Entities

Excel File for Illustrative formats for Financial Statements of Non-Corporate Entities

Guidance Note on Financial Statements of Limited Liability Partnerships

Excel File for Illustrative formats for Financial Statements of Limited Liability Partnerships

Technical Guide on Accounting for NPOs

Excel File for Illustrative formats for Financial Statements of NPOs

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Legal Updates:

RBI:

Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR) – Review of haircuts on High Quality Liquid Assets (HQLA) and review of composition and run-off rates on certain categories of deposits

Opening of and operation in deposit accounts of minors

  

SEBI:

Trading Window closure period under Clause 4 of Schedule B read with Regulation 9 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – Extension of automated implementation of trading window closure to Immediate Relatives of Designated Persons, on account of declaration of financial results

  

DGFT:

Introduction of ‘Mode of Export of Services’ Field in eBRC Format for Services Exports with effect from May 01, 2025 [Trade Notice No.2]

  

Customs:

Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles [Notification No.26(NT)]

Notification of Dholera International Airport u/s. 7(1)(a) of Customs Act, 1962" and it was issued under Section 7(1)(a) of Customs Act, 1962 [Notification No.25(NT)]

Amendment to guidelines issued vide Circular No. 38/2020 dated 21.08.2020 [Circular No.14]

Instruction No.04/2025-Customs dated 21.04.2025 regarding Recognition of National Food & Feed Reference Laboratory (NFFRL), Kathmandu, Nepal [Instruction No.4]

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