This document is the 349th issue of Tax Connect, dated 8th-14th May 2022. It covers important updates including GST functionality for Annual Aggregate Turnover (AATO), amendments to Income Tax Rules concerning updated returns and FEMA circulars related to Lines of Credit. It also details customs notifications on tariff values for various goods and provides advisories for composition taxpayers. This is a valuable resource for tax professionals and businesses seeking to stay informed on recent tax and regulatory changes.