Daily Newsletter - September 19, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Useful Forms:

ITR eFiling Utilities for AY 2025-26

From the ICAI:

ICAI Announcement

Legal Updates:

GST

SEBI

IFSCA

IRDAI

DGFT

Customs

News Update:

Indian News:

Fake CA forms, real remittances: Inside Rs 700 cr ‘fraud’ in which ED secured 1st Interpol Purple Notice

Third upgrade in 2025! Japan’s R&I raises India’s sovereign rating to BBB+; cites strong growth outlook and fiscal discipline

RBI pushes banks to slash retail charges, putting billions in fees at risk

Sebi, RBI in talks to introduce corporate bond index derivatives

NFRA to start outreach programmes from September 26 to improve audit ecosystem

Motilal Oswal pays ₹34.85 lakh to settle front-running case with Sebi

India will not allow rerouting of domestic goods from UAE to US, says Goyal

How India’s GST 2.0 compares with similar tax systems in other countries

Govt floats paper seeking comments on creating India’s ‘Big Four’

'No violations': Sebi gives clean chit to Adani in Hindenburg case

EPFO launches ‘Passbook Lite’: EPFO makes changes for faster claim settlement, reduced processing time

CAG to launch portal in November to make entire audit process tech driven

CBIC notifies changes in annual GSTR-9 form, makes ITC reporting detailed

ED launches search operations at 13 premises of B C Jindal group over suspected FEMA violations

International News:

AICPA requests clarity on global minimum tax framework

US Fed meeting: Jerome Powell-led FOMC cuts interest rate by 25 bps; 5 key highlights

Exposure Draft:

SEBI Draft:

Draft Circular - Guidelines with respect to reporting of value of units of Alternative Investment Funds (AIFs) to Depositories
[Last date for Comments: October 9, 2025] 

Useful Forms:

ITR eFiling Utilities for AY 2025-26:

Offline Utility for ITR 7 has been released

From the ICAI:

ICAI Announcement:

Relaxation in compliance with the 'Guidance Note on Financial Statements of Non-Corporate entities' and 'Guidance Note on Financial Statements of Limited Liability Partnerships' for annual reporting period 2024-25Relaxation in compliance with the 'Guidance Note on Financial Statements of Non-Corporate entities' and 'Guidance Note on Financial Statements of Limited Liability Partnerships' for annual reporting period 2024-25

Legal Updates:

GST:

Compensation Cess (Rate) Notification

Seeks to amend Notification No. 1/2017- Compensation Cess (Rate) dated 28.06.2017 [Notification No.02/2025-Compensation Cess (Rate)]

Central Tax Notifications

Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force [No.16]

Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return [No.15]

Seeks to notify category of persons under section 54(6) [No.14]

The Central Goods and Services Tax (Third Amendment) Rules 2025 [No.13]

Central Tax (Rate) Notifications

Seeks to amend Notification No. 3/2017- Central Tax (Rate) dated 28.06.2017 [No.17]

Seeks to amend Notification No 12/2017-Central Tax (Rate dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.16]

Seeks to amend Notification No 11/2017 - Central Tax (Rate) dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.15]

Seeks to notify GST rate for bricks [No.14]

Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018 [No.13]

Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018 [No.12]

Seeks to amend Notification No. 3/2017- Central Tax (Rate) dated 28.06.2017 [No.11]

Seeks to supersede Notification No. 2/2017- Central Tax (Rate) dated 28.06.2017 [No.10]

Corrigendum to Notification No. 10/2025 – Central Tax (Rate) dated 17.09.2025

Seeks to supersede Notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 [No.9]

Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Integrated Tax (Rate) Notifications

Seeks to amend Notification No 14/2017-Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.17]

Seeks to amend Notification No 9/2017-Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.16]

Seeks to amend Notification No 8/2017- Integrated Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.15]

Seeks to notify GST rate for bricks [No.14]

Seeks to amend Notification No. 22/2018- -Integrated Tax (Rate) dated 26.07.2018 [No.13]

Seeks to amend Notification No. 9/2018- -Integrated Tax (Rate) dated 25.01.2018 [No.12]

Seeks to amend Notification No. 3/2017- -Integrated Tax (Rate) dated 28.06.2017 [No.11]

Seeks to supersede Notification No. 2/2017- -Integrated Tax (Rate) dated 28.06.2017 [No.10]

Corrigendum to Notification No. 10/2025 – Integrated Tax (Rate) dated 17.09.2025

Seeks to supersede Notification No. 1/2017- -Integrated Tax (Rate) dated 28.06.2017 [No.9]

Corrigendum to Notification No. 9/2025 – Integrated Tax (Rate) dated 17.09.2025

Union Territory (Rate) Notifications

Seeks to amend Notification No 17/2017 - Union Territory (Rate), dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.17]

Seeks to amend Notification 12/2017- Union Territory Tax (Rate), dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.16]

Seeks to amend Notification No 11/2017- Union Territory Tax (Rate)dated 28th June, 2017 to implement the recommendations of the 56th GST Council [No.15]

Seeks to notify GST rate for bricks [No.14]

Seeks to amend Notification No. 21/2018- Union Territory Tax (Rate) dated 26.07.2018 [No.13]

Seeks to amend Notification No. 8/2018- Union Territory Tax (Rate) dated 25.01.2018 [No.12]

Seeks to amend Notification No. 3/2017- Union Territory Tax (Rate) dated 28.06.2017 [No.11]

Seeks to supersede Notification No. 2/2017- Union Territory Tax (Rate) dated 28.06.2017 [No.10]

Corrigendum to Notification No. 10/2025 – Union Territory Tax (Rate) dated 17.09.2025

Seeks to supersede Notification No. 1/2017- Union Territory Tax (Rate) dated 28.06.2017 [No.9]

Corrigendum to Notification No. 9/2025 – Union Territory Tax (Rate) dated 17.09.2025

SEBI:

Ease of doing investment - Smooth transmission of securities from Nominee to Legal Heir

Framework on Social Stock Exchange

IFSCA:

Clarification on the listing of convertible debt securities on recognised stock exchanges in the IFSC

IRDAI:

Inter-operable Regulatory Sandbox: FAQs

DGFT:

Amendment in Import Policy Condition of ATS-8 covered under Chapter 29 of ITC HS, 2022, Schedule –I (Import Policy) [Notification No.30]

Customs:

Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017 [Notification No.39]

Seeks to amend Notification No.29/2025-Customs dated 09.05.2025 [Notification No.38]

Seeks to amend Notification No.19/2019-Customs dated 06.07.2019 [Notification No.37]