Weekly Newsletter - May 27, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

Acts & Regulations:

RBI Directions

Useful Forms:

ITR Forms & eFiling Utilities for AY 2025-26

From the ICAI:

ICAI Publications - GST

International Content:

PCAOB Reference Material

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article

Legal Updates:

GST

IBBI

IFSCA

IRDAI

DGFT

Customs

News Update:

Indian News:

Govt sanctions over 60% manpower boost for ED

Supreme Court notice to Centre on plea highlighting vacant posts in Income Tax Appellate Tribunal

ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portal

New IIP series to track rare earth, PNG, water supply

Government operationalises amended insolvency law, sets 14-day admission deadline for NCLT

Mythos threat: Govt, tech firms test their softwares for vulnerabilities

SC sets aside CCI's ₹202 crore penalty on Amazon in Future Group deal

Yes Securities barred from onboarding new clients for 3 months

Claim & grievance performance to drive insurer exec incentives: IRDAI

Sebi may ease disclosure rules for debt issuers, bond tokenisation pilot on cards

Enforcing anti-dumping duties can save India ₹28,540 cr annually: Report

Identity theft and fake invoices: The anatomy of Delhi’s Rs 130 crore GST racket

‘Willing to listen to people’: Government open to feedback on LTCG, STCG taxes, says Nirmala Sitharaman

India’s New Foreign Tax Information Rules Effective From July 1: What Taxpayers Should Know

CBDT urges accurate SFT filing by banks, mutual funds before May 31

Sebi proposes mechanism to streamline option strike price management

FM Sitharaman launches key SIDBI initiatives for MSME growth

ICAI to set up advanced forensic lab for small, medium practitioners

How Sebi plans to nudge your investments

GST: Businesses can digitally record ‘goods delivered’

Centre launches Bhavya scheme to set up 100 industrial parks across country

RBI slaps Rs 10.10 lakh penalty on City Union Bank, 2 more entities

Sebi bars 7 for alleged fraudulent trades, directs ₹20 crore disgorgement

RBI to transfer record ₹2.87 trillion dividend to govt for FY26

Delhi HC shields IndiGo from ₹458-cr GST over engine compensation dispute

More accurate data soon: Big missing link in India's economy dashboard finally gets set to go live

CBI arrests CGST Superintendent, Inspector in bribery case

Rs 400 crore agricultural income but no land: CBDT digs up names of rich ‘farmers’ without farms

Man pays zero tax on Rs 5 crore land sales despite filing late ITR

RBI may turn to 2013 taper tantrum playbook to defend weakening rupee

Sebi allows employees to WFH, advises departments to defer conclaves

Sebi, NISM and IICA sign MoU to strengthen capital markets, focus shifts to governance and ESG

Sebi proposes new price-discovery mechanism for IPOs, re-listings

Financiers can't block borrower phones, online shaming barred

Ketan Parekh Case: Sebi sends show cause notice to 6 Capital Group FPIs

RBI weighs all options including rate hike, forex swaps to stabilise rupee

Govt defends ₹8,415 crore Yes Bank AT1 bond write down before Supreme Court

Sebi proposes to permit third-party payment in mutual funds in certain scenarios

International News:

SEC Audit Oversight Push Renews Questions for Enron-Era Watchdog

Internal auditors confront fraud risks

AI makes cyber security business critical: how accountants should respond

Exposure Drafts:

SEBI Drafts:

Consultation Paper on Ease of Doing Business - Framework for strike prices of options contracts
[Last date for Comments: June 15, 2026] 

Draft Review of price discovery mechanism through Pre-open Call Auction Session for IPO and Re-listed scrips
[Last date for Comments: June 11, 2026] 

Acts & Regulations:

RBI Directions:

Reserve Bank of India (Urban Co-operative Banks – Governance) Directions, 2025 (Updated as on May 25, 2026)

Reserve Bank of India (Rural Co-operative Banks – Governance) Directions, 2025 (Updated as on May 25, 2026)

Useful Forms:

ITR Forms & eFiling Utilities for AY 2025-26:

ITR 2: Excel Utility & Schema have been released

Common Offline Utility (ITR 1 and ITR 4) for Windows and Mac 

From the ICAI:

ICAI Publications - GST:

Handbook on Refunds under GST
[Revised in January 2026]

Handbook on E-Commerce Operators under GST
[Published in December 2025]

International Content:

PCAOB Reference Material:

Staff Guidance – Insights for Auditors
Broker-Dealer Audit Focus: Related Party Transactions
[Published in February 2026]

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article:

The Always-On Trap: How Constant Connectivity is Quietly Draining CA Firms

Legal Updates:

GST:

Advisory to Taxpayers and Stakeholders – Enhancements in the e-Way Bill (EWB) Portal

IBBI:

Notification u/s 1(2) of the Insolvency and Bankruptcy Code (Amendment) Act, 2026

The Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2026 (Issued on May 18, 2026)

IFSCA:

Master Circular for Broker Dealers and Clearing Members

Clarification on the fee structure applicable to existing Ancillary Service Providers and existing TechFin entity

Guidance on Availing of Voice broking services by IBUs from TechFin and Ancillary Service Providers registered with IFSCA

IRDAI:

Remuneration to Key Management Persons [Circular]

DGFT:

Allocation of 8606 MTRV of raw cane sugar to USA under TRQ scheme for US fiscal year 2026 [Public Notice No.12]

Launch of online module for issuance of Certificate of Origin (CoO) for Agarwood on Trade Connect Platform [Trade Notice No.5]

Review and Re-allocation of allocated Export Quota of Pharma Grade Sugar by Special EXIM Facilitation Committee (SEFC) [Trade Notice No.4]

Customs:

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 November 2026 [Notification No.9(ADD)]

Seeks to impose anti-dumping duty on imports of Monoisopropylamine(MIPA) originating in or exported from China PR for a period of 5 years [Notification No.8(ADD)]