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Weekly Newsletter - August 27, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IFSCA Draft

SEBI Drafts

Acts & Regulations:

RBI Directions

IRDAI Regulations

Legal FAQs:

IFSCA FAQs

Useful Forms:

ITR eFiling Utilities for AY 2026-27

From the ICAI:

ICAI Publication

CA's Referencer:

NFRA Reference Material

CBDT Guidance Note

International Content:

FASB Reference Materials

Legal Updates:

Income Tax

MCA

SEBI

IFSCA

IRDAI

DGFT

Customs


  

News Update:

Indian News:

Ex-GST superintendent, wife get RI in disproportionate assets case

Rupee slide, valuation rules put foreign asset disclosure scheme out of reach for many

Tata Steel gets major Supreme Court relief in ₹890 crore GST dispute

As AI poses threat to critical financial systems, how regulators are stepping up vigil

Banks, NBFCs to reset partnership terms with fintech firms

Brother-sister CA duo siphoned off Rs 555 crore in 5 years, Kolkata Police bust racket

MCA financial year flexibility comes with tax reporting catch for companies

Couple wins Rs 2.25 crore black money case in ITAT

Income tax dept steps up prosecution of TDS defaults; Naftogaz India MD gets 22-month jail term

NFRA flags gaps in going concern audits, asks auditors to challenge forecasts, funding claims

Sebi bars Varanium Cloud, promoter from securities market for seven years

Banks told to have stricter norms for eligibility of forensic auditors

Rs 5.31 lakh income tax refund denied as taxpayer did not claim it in the original ITR; wins in ITAT Delhi

[Agra] Case against CA for facilitating Rs 25 cr illegal foreign remittances

Indian CAs May Soon Get Wider Professional Recognition in Singapore

SPARSH pension portal: How to track pension, benefits and life certificate

GSTAT filings cross 75,000, but only 83 cases disposed of so far

[Hyderabad] CA booked for ‘enabling’ Rs 629 cr in dubious foreign remittances

Latur CA Booked For Issuing Certificates To Facilitate Remittance Of Hundreds Of Crores Abroad

NRI sending money to parents in India? This one mistake could trigger an income tax notice

Joint FCNR(B) accounts for NRIs: Eligibility, rules and tax benefits

GST registration for big businesses: Centre, states work on uniform documents for faster approvals

NFRA lists 948 firms for not filing returns on audit work

Sebi seeks inclusion of fractional shares in Companies Amendment Bill

Irdai takes firm stance on insurers breaching expense management limits

Service producer prices show mixed trend across sectors in Q1FY27

Govt examines easing blocked GST credit on construction for own use

Easing of 10% rule on Chinese stake attracts FDI worth ₹4,896 crore

Sensex CAS manipulated using large orders: Sebi

Sebi cancels registration of 15 investment advisers, 25 research analysts

Irdai bars Niva Bupa's branch expansion for six months

India, Mexico finalise ToR for preferential trade agreement, signing soon

Govt reappoints Anand Mahindra to RBI Board; Somanath Panicker joins

RBI’s FCNR U-turn: Guv explains what changed

India amends Foreign Trade Policy for easier rupee invoicing and payments for exporters

Sebi permits IFSCA-regulated entities to access KRA records for KYC

Public sector banks underparticipate in forex derivatives mkt: RBI DG Jain

SC rules referral fees earned by auto dealers from banks, insurers are taxable

Sending money abroad? Why your transaction could draw tax scrutiny

I-T unearths Rs 1.29 lakh cr foreign remittances

Explained: Why India is Asia's least-favoured market among fund managers

Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to know

 

International News:

China Evergrande fiasco: Court stops PwC International's attempt to distance itself from its local arm's doings

An audit of audits: KPMG has audited 19 companies for 20 years or more

PCAOB enforcement staff drops routine no-deny requirement in settlements, citing SEC alignment

US audit firms, investors urge PCAOB to issue clear AI audit guidelines

SEC forms enforcement unit to tackle accounting and auditing fraud

IAASB opens consultation on revisions to core audit standards


Exposure Drafts:

IFSCA Draft:

Consultation Paper on Secondary Listing of Exchange Traded Funds in IFSC
[Last date for Comments: September 17, 2026] 

 

SEBI Drafts:

Consultation paper on revision of Advertisement Code for Online Bond Platform Providers (OBPPs)
[Last date for Comments: September 11, 2026] 

Consultation Paper on Introduction of Fixed Income Channel Partners (FICPs) for Distribution of Fixed Income Securities through Online Bond Platform Providers (OBPPs)
[Last date for Comments: September 11, 2026] 


Acts & Regulations:

RBI Directions:

12 RBI Directions Updated as on August 25, 2026

  

IRDAI Regulations:

IRDAI (Manner and Procedure for Imposing Penalties) Regulations, 2026

IRDAI (Policyholders’ Education and Protection Fund) Regulations, 2026


Legal FAQs:

IFSCA FAQs:

SEZ Compliance FAQs Booklet V2.0
[Published in August 2026]


Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Released on August 20, 2026:

ITR 6
• Utility for Windows
• Utility for MAC


From the ICAI:

ICAI Publication:

Handbook on Finalisation of Accounts with GST Perspective
[Revised in June 2026]


CA's Referencer:

NFRA Reference Material:

NFRA Staff Series on Technology in Audit: 01 -
General Principles for Technology Adoption in Audit

[Published on July 23, 2026]

  

CBDT Guidance Note:

Guidance Note on FATCA and CRS
[Published by CBDT in July 2026]


International Content:

FASB Reference Materials:

Guidance on Public-Private Partnerships

• Public-Private Partnerships: Disclosure Requirements

• Implementation Guidance for Public-Private Partnerships


Legal Updates:

Income Tax:

The Taxation and Other Laws (Amendment) Bill, 2026
[As assented by the President of India]

 

MCA:

The Companies (Indian Accounting Standards) Amendment Rules, 2026 [G.S.R. 725(E)]

 

SEBI:

Alignment of SEBI's Cyber Incident Reporting Portal with FIRE Format

IT Resilience Index for Market Infrastructure Institutions (MIIs)

Acceptance of digitally signed Power of Attorney from FPIs

Enabling sharing of information by KYC Registration Agencies (KRAs) with entities regulated by International Financial Services Centres Authority

 

IFSCA:

Requirement for Fund Management Entities (FMEs) to maintain a website or webpage

Extension of timeline for obtaining International Securities Identification Numbers (ISINs) from a recognised depository in IFSC

 

IRDAI:

IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) (Amendment) Regulations, 2026

IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026

IRDAI (Third Party Administrators – Health Services) (Amendment) Regulations, 2026

IRDAI (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2026

IRDAI (Actuarial, Finance and Investment Functions of Insurers) (Second Amendment) Regulations, 2026

 

DGFT:

Enhancements in the Pre-Shipment Inspection Agency (PSIA)/Pre-Shipment Inspection Certificate (PSIC) process [Trade Notice No.22]

Amendment in the Export Policy of Wheat [Notification No.35]

Amendment in the Export Policy of Wheat Flour and related products [Notification No.34]

Amendment in Para 1.25 of the Foreign Trade Policy, 2023 [Notification No.33]

Amendment to Para 4.63 of FTP 2023 [Notification No.32]

Corrigendum to Public Notice No. 27/2026-2027 dated 20.08.2026

Introduction of Automated Facility for Grant of Export Obligation Extension through PRC/EPCG Committee – Ease of Doing Business [Trade Notice No.21]

Amendment in import policy of Raw Sugar classified under Exim Code 170114 of Chapter 17 of Schedule–1 (Import Policy) of ITC (HS), 2022 and one-time conversion from Advance Authorisation Scheme to Tariff Rate Quota (TRQ) Scheme [Notification No.31]

Expansion of INR Invoicing of Exports and FTP Benefits for Rupee Realisations [Notification No.30]

Modalities for Application and Distribution of TRQ for Import of 10 Lakh MT of Raw Sugar and one-time conversion from Advance Authorisation (AA) Scheme to Tariff Rate Quota (TRQ) Scheme [Public Notice No.27]

 

Customs:

Modalities for payment of exempted GST at the time of import of Raw Sugar actually imported under Advance Authorisation (AA) Scheme to be converted into Tariff Rate Quota (TRQ) Scheme [Circular No.37]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.71(NT)]

Seeks to continue applicability of anti-dumping duty on imports of Natural Mica based Pearl Industrial Pigments excluding cosmetic grade originating in or exported from China PR till 25th February, 2027 [Notification No.21(ADD)]

Seeks to exempt 10 lakh MT of raw sugar from customs duty, when imported under the Tariff Rate Quota (TRQ) Scheme [Notification No.30]

Return of export cargo from international waters due to closure of the Strait of Hormuz- Section 143AA of the Customs Act, 1962 [Circular No.36]

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