Weekly Newsletter - October 28, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

SEBI Regulations

From the ICAI:

ICAI Sustainability Assurance Engagements Standards

Legal Updates:

GST

MCA

FEMA

SEBI

IFSCA

DGFT

Customs

News Update:

Indian News:

Govt seeks investor and expert views on LTCG and STT as it reviews capital market levies amid FPI exodus

Can income tax officials take your PPF savings for unpaid tax dues? Know what the law says

GST registration gets easier as CBIC drops Udyam proof, sets seven-day limit for approvals

GST clarification on foreign investor brokerage offers sentiment boost, analysts say

Centre eases GST rules for post-sales discounts, no prior agreement needed from November 1

Sebi extends compliance deadline for debenture trustees till April 2027

GST officers told to split multi-yr tax notices, substantiate fraud claims

Gujarat HC sets GST audit timeline, directs tax officers to flag missing documents promptly

Audit can't replace a lender's due diligence: NFRA Chairperson Nitin Gupta

SC to examine tax treatment of EY US salary reimbursements for staff

Ind AS 117 reporting for Indian insurers: Why finance, actuarial and disclosure processes need to connect

Ind AS 118: India Inc gears up for big changes to financial reporting

GSTAT allows GST refund on cancelled air tickets

Central Bank of India reports unauthorised transactions worth ₹13.97 crore, FIR filed

MCA extends annual filing deadlines, waives extra fees for FY26 filings

I-T likely to send notices over undisclosed foreign property

SEBI proposes automatic approval route for exchanges, depositories’ investments

RBI revises bank leverage ratio norms, new framework effective April 2027

RBI tightens operational risk capital norms for banks from April 2027

Indian banks open cheque books for ₹10,000 crore-plus

International News:

PCAOB criticizes EY for fourth consecutive year over quality control deficiencies

Using AI in audits: Practical guardrails for every accounting firm

Exposure Draft:

SEBI Draft:

Consultation Paper on Review of Regulation 38(2) of the SECC Regulations, 2018 and Regulation 7(c)(i) of the D&P Regulations, 2018 for providing an automatic approval route for investment in related activities by the MIIs
[Last date for Comments: November 12, 2026] 

Acts & Regulations:

SEBI Regulations:

SEBI (Intermediaries) Regulations, 2008
Updated upto October 10, 2026

SEBI (Mutual Funds) Regulations, 2026
Updated upto October 10, 2026

SEBI (Employees’ Service) Regulations, 2001
Updated upto October 10, 2026

SEBI (Research Analysts) Regulations, 2014
Updated upto October 10, 2026

SEBI (Vault Managers) Regulations 2021
Updated upto October 9, 2026

From the ICAI:

ICAI Sustainability Assurance Engagements Standards:

Published in September 2026:

Standard on Sustainability Assurance (SSA) 5000
General Requirements for Sustainability Assurance Engagements

Framework for Sustainability Assurance Engagements

Legal Updates:

GST:

Mandating TDS under Section 51 on registered recipients of specified waste, scrap, and used cooking oil [Notification No.7/2026-Central Tax]

Excluding suppliers of specified waste, scrap, and used cooking oil from Section 23(2) registration exemption [Notification No.6/2026-Central Tax]

The Central Goods and Services Tax (Amendment) Rules 2026 - Key procedural revisions and updated forms [Notification No.5/2026-Central Tax]

Notifies category of supplies for purpose of e-invoicing [Notification No.4]

Notifies section 153 to section 155 of Finance Act, 2026 to come into force [Notification No.3]

Amendment to definition of "Nominated Agency" under Notification No.26/2018-Central Tax (Rate) [Notification No.5/2026-Central Tax (Rate)]

Amendments under Section 9(3) to Notification No. 4/2017-Central Tax (Rate) regarding Reverse Charge Mechanism (RCM) supplies [Notification No.4/2026-Central Tax (Rate)]

Exemption of CGST on Psyllium seeds (Isabgol) [Notification No.3/2026-Central Tax (Rate)]

Amendments under Section 9(1) and 15(5) to Notification No. 9/2025-Central Tax (Rate) regarding tax rates and valuation [Notification No.2/2026-Central Tax (Rate)]

Amendment to definition of "Nominated Agency" under Notification No.27/2018 -Integrated Tax (Rate)​ [Notification No.5/2026-Integrated Tax (Rate)]

Amendments under Section 5(3) of IGST Act to Notification No. 4/2017-Integrated Tax (Rate) regarding Reverse Charge Mechanism (RCM) supplies​ [Notification No.4/2026-Integrated Tax (Rate)]

Exemption of IGST on Psyllium seeds (Isabgol)​ [Notification No.3/2026-Integrated Tax (Rate)]

Amendments under Section 5(1) of IGST Act and Section 15(5) of CGST Act to Notification No. 9/2025-Integrated Tax (Rate) regarding tax rates and valuation​ [Notification No.2/2026-Integrated Tax (Rate)]

Amendment to definition of "Nominated Agency" under Notification No. 26/2018-Union Territory Tax (Rate)​ [Notification No.5/2026-Union Territory Tax (Rate)]

Amendments under Section 7(3) of UTGST Act to Notification No. 4/2017-Union Territory Tax (Rate) regarding Reverse Charge Mechanism (RCM) supplies​ [Notification No.4/2026-Union Territory Tax (Rate)]

Exemption of UTGST on Psyllium seeds (Isabgol)​ [Notification No.3/2026-Union Territory Tax (Rate)]

Amendments under Section 7(1) of UTGST Act and Section 15(5) of CGST Act to Notification No. 9/2025-Union Territory Tax (Rate) regarding tax rates and valuation​ [Notification No.2/2026-Union Territory Tax (Rate)]

Clarification in respect of the omission of rule 96(10) of the Central Goods and Services Tax Rules, 2017 [Circular No.264]

Clarification in respect of receipt of payment for export of goods or services [Circular No.263]

Clarification on Input Tax Credit admissibility to authorised agents appointed by manufacturers for sale of motor vehicles, pursuant to Circular No. 231/25/2024-GST dated 10.09.2024 [Circular No.262]

Clarification on issues related to provisions of section 17(4) of the Central Goods and Services Tax Act, 2017 [Circular No.261]

Clarification on issues pertaining to Input Service Distributor [Circular No.260]

Clarification on various issues pertaining to the amount paid as pre-deposit as per sub-section (6) of section 107 or sub-section (8) of section 112 of the CGST Act [Circular No.259]

Clarification on issues related to demand, adjudication and appeal proceedings under the CGST Act, 2017 [Circular No.258]

Guidelines for the handling of applications for GST registration [Circular No.257]

MCA:

Relaxation of additional fees and extension of time for filing CRA-4 (Cost Audit Report in XBRL format) [Circular No.6]

Relaxation of additional fees and extension of time for filing of Financial Statements and Annual Returns under the Companies Act, 2013 [Circular No.5]

FEMA:

Delegation of Compounding of certain Contraventions under FEMA, 1999 to Regional Offices of the Reserve Bank

SEBI:

Extension of timeline for compliance with terms and conditions by Debenture Trustees (DTs) for carrying out activities outside the purview of SEBI

Review of regulatory requirement for maintenance of call records of institutional clients by Research Analysts or Research Entities

IFSCA:

Certification on Cyber Security and Cyber Resilience for Designated Officers and other specified employees of Regulated Entities in the IFSCs

Review of SCC framework for trading on IIBX

Financial Soundness Criteria applicable to existing PSO(s) and the Applicant(s) desirous of commencing Payment System

DGFT:

Amendments and Clarifications to the Guidelines for Support for Alternative Trade Instruments under Export Promotion Mission (EPM) – Niryat Protsahan [Trade Notice No.32]

Fixation of four new Standard Input-Output Norms (SIONs) at SION Nos. A-3715, A-3716, A-3717 & A-3718 under "Chemical and Allied Product" (Product Code-'A') [Public Notice No.36]

Customs:

Seeks to amend notification No. 45/2025-Customs dated 24.10.2025 [Notification No.34]

Anti-Dumping Duty on imports of "Titanium Dioxide" originating in or exported from China PR-Implementation [Circular No.46]

Seeks to impose Anti Dumping Duty on imports of ‘Titanium Dioxide’ originating in or exported from China PR [Notification No.26(ADD)]

Seeks to rescind notification no. 12/2025-Customs (ADD), dated 10th May, 2025 [Notification No.25(ADD)]

Seeks to extend the validity of notification No. 30/2026-Customs from 31st October, 2026 to 31st December, 2026 [Notification No.33]