Daily Newsletter - October 10, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

Ind AS

Legal Updates:

GST

FEMA

DGFT

Customs

News Update:

Indian News:

RBI consolidates regulatory norms into 238 master circulars, repeals 9,000

Bank unions slam govt move to open PSB, LIC top posts to private sector

Top 10 Indian states women prefer to work in

Jamnagar CA booked in ₹560 cr fake billing case: Officials

Bank fraud: ED raids jewellery firm's offices, accountant's residence in Kolkata

AI to IoT: How 4 new technology features will make UPI transactions easier

RBI realtime cheque clearance system: Customers complain of delays; bank staff not fully trained

RBI reshuffle: Shirish Murmu takes charge of key departments; central bank realigns deputy governor portfolios

Govt notifies major amendments to PLI scheme for textiles

Taxpayer wins case in ITAT Mumbai: Rs 1 crore tax demand quashed after TDS mismatch in Form 26AS

Sebi raises minimum block deal size to Rs 25 crore, mandates delivery-only trades. Check key takeaways

Taxpayer deposits Rs 20 lakh in NRE bank account, skips ITR; income tax dept issues notice but he wins

RBI launches digital currency retail sandbox

International News:

US tax filing: IRS releases income tax brackets and standard deductions for 2026; here's what has changed

SEC reduces cost of consolidated audit trail

FASB update refines reporting scope for derivatives

From the ICAI:

Ind AS:

Indian Accounting Standards (Ind AS): Disclosures Checklist
(Revised April 2024)

Legal Updates:

GST:

Attention : Important Advisory on IMS

FEMA:

Foreign Exchange Management (Debt Instruments) (Fourth Amendment) Regulations, 2025

DGFT:

Amendment in Import Policy Condition of Sulfadiazine API covered under Chapter 29 of ITC (HS), 2022, Schedule-I (Import Policy) [Notification No.41]

Amendment in Import Policy Condition of specific items covered under Chapter 70, 73, 84 and 85 of ITC (HS) 2022, Schedule –I (Import Policy) [Notification No.40]

Fixation of a new SION at SION C-2049 under "Engineering & Electronic Items" (Product Code 'C') [Public Notice No.25]

Corrigendum to Public Notice no. 05/25 dated 06.05.2025 for modification in Standard Input Output Norms (SION) C888

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.64(NT)]

Notification of Proper officer for Section 110 of the Customs Act, 1962 [No.63(NT)]

Notification of Proper officer for Sections 30A and 41A of the Customs Act, 1962 with respect to Passenger Name Record Information Regulations, 2022 [No.62(NT)]

The Sea Cargo Manifest and Transshipment (Fourth Amendment) Regulations, 2025 [No.61(NT)]

Implementation of Sea Cargo Manifest Transhipment Regulations (SCMTR), 2018 [Circular No.25]