Daily Newsletter - May 15, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

RBI Directions

CA's Referencer:

From ICAI

Legal Updates:

MCA

IBBI

SEBI

DGFT

Customs

News Update:

Indian News:

GSTAT is now operational with nationwide benches and an appeal system to ease GST litigation burden

PFRDA eases NPS annuity exit rules for retirees facing emergencies: Details

India’s invisible workforce gets a new safety net: Key labour reforms for migrant employees decoded

PwC resigns as statutory auditor of Arisinfra Solutions over fee dispute

India GCCs to gain as US plans sharp H-1B wage hikes

Who can file ITR-1 this year? Common mistakes to avoid while filing ITR-1 for AY 2026-27 on or before July 31, 2026

India caps gold imports under Advance Authorisation scheme at 100 kg

ED freezes ₹526 crore deposits in money laundering case against Gameskraft

As rupee dips, I-T steps up vigil on shady outflows

India's gold policy trap: Cut duty to curb smuggling, raise to save rupee

Bank account frozen without FIR? Delhi HC says it violates right to life

Govt considers reducing taxes on bond investments by foreign investors

Sebi proposes major overhaul of derivatives rules to simplify compliance for exchanges

International News:

Artificial Intelligence in Audit Work: Managing the Risks

FRC Publishes Final Revisions to UK Auditing Standards on Fraud and Going Concern

Exposure Draft:

SEBI Draft:

Consultation Paper on Measures for ease of doing business on Exchange Traded Derivatives
[Last date for Comments: June 4, 2026] 

Acts & Regulations:

RBI Directions:

Reserve Bank of India (Rural Co-operative Banks – Prudential Norms on Capital Adequacy) Directions, 2025
(Updated as on May 15, 2026)

CA's Referencer:

From ICAI:

AML & CFT Guidelines For Trust and Company Service Providers
(Applicable w.e.f April 21, 2026)
[Published by Financial Intelligence Unit – India (FIU-IND) of Finance Ministry]

Legal Updates:

MCA:

Procedure for Transfer of Membership Interest in a Company Without Share Capital [MCA Advisory dated May 11, 2026]

IBBI:

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2026

SEBI:

Status of SPVs post conclusion or termination of Concession Agreement

Permitted use of fresh borrowings for InvITs where Net Borrowings exceeds forty-nine percent of the value of InvIT assets

DGFT:

Amendment in export policy of sugar [Notification No.16]

Insertion of SION notes below the SIONs M1 to M8 [Public Notice No.11]

Customs:

Extension of validity of the circulars issued under Section 143AA of the Customs Act, 1962, to mitigate challenges arising from ongoing disruptions in maritime routes due to the closure of the Strait of Hormuz [Circular No.25]

Identification and import clearance of Hazardous cargo [Circular No.24]