Banking, Financial Services & Insurance Home
Article
8 ways banks can stave off potential bad debts
Ways in which banks can streamline the multiplicity of current accounts through the framework laid out by the RBI.
Consumer, Retail & E-commerce Home
Report
Shoppers don’t stop- A survey on consumer trends
7 in 10 Indians ready to loosen purse strings this festive season, according to Grant Thornton Bharat Consumer Survey
Healthcare and Life Sciences Home
#COVID19
Health Check Q1 FY 21
The third edition of Health Check takes a closer look at the summary of Grant Thornton’s International Business Report findings from the healthcare sector and more
Automotive and Manufacturing Home
Article
Speed limiters for Auto PLI scheme
Insights from the PLI scheme launched by the government for automobile and auto components sector
Media, Technology and Entertainment Home
Report
TMT industry: Fully charged or on standby?
Grant Thornton surveyed 943 Technology, Media and Telecoms (TMT) business leaders, as part of our Global business research on their reactions to 2020, their outlook for 2021 and how they are preparing for future challenges.
Real estate and Construction Home
Publication
Realty Bytes - July 2021
Know what is defining the future of real estate, impact of the second wave and the emerging realty trends
Grant Thornton Bharat presents the latest edition of the Monthly GAAP Bulletin that summarises significant accounting, auditing and regulatory updates. This publication has been compiled to meet the needs of dynamic Indian businesses and focuses on key developments in India and across the globe.
This edition covers updates for October 2020.
We hope you find this bulletin informative and useful.
Quick snapshot of some key updates
India updates - Effective
Regulatory updates
Companies Act updates
- Extension of special measures under the Companies Act, 2013
and Limited Liability Partnership Act, 2008 in view of the
COVID-19 pandemic
SEBI updates
- Additional requirements under SEBI LODR regulations for listed non-convertible debt securities with respect to asset cover/compliance with debt covenants
- Framework for issuance, listing and trading of AT1 bonds/instruments
- Requirement of contribution by issuers of listed debt securities to Recovery Expense Fund
- Standardisation of timeline for listing of securities issued on a private placement basis
- FAQs on SEBI (Prohibition of Insider Trading) Regulations, 2015
- New definition and requirements of private placement in SEBI ICDR Regulations
Other regulatory updates
- Extension of timelines for income tax returns and GST reconciliation statement
- Amendments to Form 3CD and Form 3CEB, and allowance restrictions on assessees who have opted for concessional rates
- Review of regulatory framework for HFCs by RBI
- Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts
India updates – Proposed
Accounting updates
- Exposure draft on Interest Rate Benchmark Reform - Phase 2 (Amendments to Ind AS 109, Ind AS 107 and Ind AS 116)
- Exposure drafts on Forensic Accounting and Investigation Standards
International updates - Effective
US GAAP Updates
- ASU 2020-08: Codification improvements to Subtopic 310-20, Receivables - Non-refundable Fees and Other Costs.
Also appears under...