Daily Newsletter - October 9, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

RBI Directions

International Content:

FRC Reference Materials

Legal Updates:

Income Tax

GST

RBI

SEBI

DGFT

Customs

News Update:

Indian News:

No automatic GST refund if earlier claim under appeal, says FinMin

RBI tightens liquidity after rate rise, raises daily CRR maintenance to 99%

Over 35,000 property deals worth ₹55,000 crore face Income Tax scrutiny in Gurugram's Badshahpur

₹50 lakh income-tax case: ITAT quashes reassessment

Irdai may roll out insurance distribution reforms in Jan 2027 amid backlash

GST reforms 2026: Govt plans faceless, centralised CGST system for 2 lakh multi-jurisdiction taxpayers

GST reforms: No tax on toll collection by highway concessionaires; road maintenance tax liability clarified

A quick guide to GST Council's key decisions on tax and compliance

Earn from overseas? New FEMA rules freelancers and influencers can't ignore

Sebi shares trade data with Jane Street, seeks response to allegations

GST Council allows small online sellers to use warehouses in other states

GST Council widens input tax credit scope, eases refund rules for firms

GST Council ends GST officers' arrest powers; ₹10,000 limit for notices

Good news for employees: ITC on group health and life insurance allowed; Know how it helps employees

GST export rule changes to cut tax uncertainty, litigation: IT industry

GST Council approves broad set of process reforms, resolves credit blockages

International News:

Why data analytics is crucial in improving audit quality

Acts & Regulations:

RBI Directions:

RBI Master Circulars & Directions — New and Updated as on October 07, 2026

International Content:

FRC Reference Materials:

FRC publishes final revisions to UK standards on using the work of an auditor’s expert

Legal Updates:

Income Tax:

The Income-tax (Sixth Amendment) Rules, 2026 - Amendment to Rule 231 and Revised Form No. 161 for Waiver of Penalty [Notification No.134]

GST:

Recommendations of the 57th GST Council Meeting – Key Reforms [Press Release]

RBI:

Risk Management and Inter-Bank Dealings - Foreign Exchange Risk Reserve

Risk Management and Inter-Bank Dealings

Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Daily Minimum Cash Reserve Maintenance Requirement

SEBI:

Introduction of Credit Risk-o-Meter as an additional disclosure mechanism for debt securities

Exemption from the requirement of mandatory merchant banker appointment for debt issued through private placement by certain listed issuers

Review of provisions related to International Securities Identification Number (ISIN) for debt securities issued on private placement basis

DGFT:

Amendment to Para 4.49 of FTP-2023 [Notification No.42]

Allocation of quantity 5,841 MT of Sugar by EU for export from India under TRQ for the year 2026-27 (October 2026 to September 2027) [Public Notice No.32]

Customs:

Clarification regarding scope of the term "Power Bank" under S.no. 325 of Table I of notification No. 45/2025-Customs dated 24.10.2025 [Circular No.45]

Substitution in notification of Dabhol Port, Maharashtra [Notification No.81(NT)]

Amendment to Electronics and Information Technology Goods (Requirement for Compulsory Registration) Order, 2021 – inclusion of Screen Protectors for smartphones [Instruction No.20]