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Daily Newsletter - August 27, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

IFSCA Draft

Acts & Regulations:

RBI Directions

IRDAI Regulations

CA's Referencer:

NFRA Reference Material

International Content:

FASB Reference Materials

Legal Updates:

Income Tax

IFSCA

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

 

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


Exposure Draft:

IFSCA Draft:

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


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]


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]

 

Legal Updates:

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

 

DGFT:

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

 

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)]

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