Weekly Newsletter - August 13, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

RBI Drafts

SEBI Drafts

IFSCA Drafts

Acts & Regulations:

RBI Directions

Useful Forms:

ITR eFiling Utilities for AY 2026-27

From the ICAI:

ICAI Guidance Note

ICAI Publication

CA's Referencer:

CBDT

Legal Updates:

IBBI

SEBI

IFSCA

IRDAI

DGFT

Customs

News Update:

Indian News:

CAG flags ₹401 cr GST lapses in works contracts; revenue dept accepts

Govt weighing two models to offset UPI costs: FinMin tells Parl panel

RBI draft rules on interest rates: External benchmark optional for NBFCs

Sebi sees no manipulation in closing auction sessions so far, says Tuhin Kanta Pandey

Retail investors’ losses in F&O segment drop

India's top 500 listed firms have only 9 women CEOs, 25 MDs: Govt data

Lok Sabha sends FCRA amendment Bill to 31-member JPC amid Oppn protests

No India trip needed: 4 ways NRI pensioners can submit life certificate

SEBI proposes to bring all bullion trades under vault management rules

Sebi proposes wider FPI access to non-agri commodity derivatives

Finance panel seeks sector-specific audit studies, faster NFRA reforms

EPFO withdrawal rules: Minister reveals how much EPF amount can subscribers withdraw

Fitch affirms India's BBB- sovereign rating, retains stable outlook

DGFT removes physical duty payment challans for export obligation discharge certificate applications

Six key GST officials in Chennai transferred

GST Council officials visit Andhra to study AI-driven tax administration

Parliament passes Bill to recognise digital bank records as evidence

Your email knows where your money is. AI could help hackers find it

Parliament clears taxation bill, Sitharaman says UPI transactions to remain free

Lok Sabha passes Tribunals Reforms Bill 2026 without debate

Recovery calls, agent visits, phone locks: Experts explain RBI's new rules

IFSCA asks IFSC entities to maintain valid approvals or face action

IT rules for online lower, nil TDS certificates to be notified soon: Govt

No income tax for selling agri land for Rs 7.24cr; Know how Google Earth photos and revenue records helped

Can a parent withdraw money from their child's PPF? Here's what court said

Sebi Uses AI To Track 20,000 Fraudulent Social Media Posts Since Nov 2025

CBIC directs CGST zones to track illegal mining, curb tax evasion

Gratuity tax deduction denied due to ITR filing error? ITAT Chennai says genuine claims can't be rejected

RBI proposes a leverage ratio of 3.5% for ‘important’ global banks

Chaotic Debut: How SEBI's Closing Auction Reform Fared In Its First Week

Will you have to pay to use UPI? 7 FAQs on possible MDR and what it means for consumers answered

NFRA to unveil accounting changes for cross-border financial reporting

REIT, InvIT dividend tax break: Experts explain what changes and the catch

Tariff on most items to be in single digits in FY28 Budget: FM Sitharaman

RBI eases bank PSL calculation for loans backed by non-resident deposits

RBI extends recovery norms deadline, eases certification timeline

RBI proposes new derivative-risk capital framework effective April 2027

NBFCs can extend term loans, not revolving credit products: RBI draft norms

Foreign etailers told to set up separate export-only units in India

International News:

Why the FRC is targeting offshore audit work and what your firm must do

FRC Annual Review of Audit Quality equips investors and audit committees to make better decisions

Exposure Drafts:

RBI Drafts:

Draft RBI (Interest Rates on Loans and Advances) Directions, 2026
[Last date for Comments: September 11, 2026] 

Draft Directions on Credit Valuation Adjustment (CVA) Framework
[Last date for Comments: August 28, 2026] 

Draft RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, 2026
[Last date for Comments: August 28, 2026] 

Review of Guidelines on Concentration Risk Management - Rural Co-operative Banks
[Last date for Comments: August 28, 2026] 

Draft Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026
[Last date for Comments: August 28, 2026] 

SEBI Drafts:

Consultation Paper on Review and Expansion of the Scope of the SEBI (Vault Managers) Regulations, 2021
[Last date for Comments: September 1, 2026] 

Consultation Paper on FPI Participation in Exchange Traded Commodity Derivatives (ETCDs)
[Last date for Comments: September 1, 2026] 

Consultation Paper on Review of provisions related to ISIN for Debt Securities
[Last date for Comments: August 31, 2026] 

Consultation Paper on Measures for ease of doing business on Settlement and Risk Management provisions for Clearing Corporations
[Last date for Comments: August 27, 2026] 

Consultation Paper On Measures Towards Ease Of Doing Business For REIT And InvITs
[Last date for Comments: August 27, 2026] 

IFSCA Drafts:

Consultation paper on proposed amendments to the IFSCA Banking Handbook on General Directions
[Last date for Comments: September 1, 2026] 

Consultation Paper on the financial soundness criteria for existing Payment System Operators (PSOs) and applicants desirous of operating payment systems in IFSC
[Last date for Comments: August 28, 2026] 

Acts & Regulations:

RBI Directions:

Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2026
(Updated as on August 7, 2026) 

Important for Bank Auditors
64 RBI Directions Released on July 31, 2026

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Released on August 7, 2026:
ITR 5:
• Windows Utility
• Utility for MAC

Updated on August 7, 2026:
• ITR 5- Excel Utility

From the ICAI:

ICAI Guidance Note:

Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961
(Revised 2026 Edition)

ICAI Publication:

Compendium of Information Systems Audit Standards
(As on February, 2026)

CA's Referencer:

CBDT:

Advance Pricing Agreement (APA) - Programme Annual APA Report FY 2025-26
[Published by CBDT in July 2026]

Legal Updates:

IBBI:

The Companies (Registered Valuers and Valuation) Amendment Rules, 2026

SEBI:

Review of Inclusion of Historical Scenarios in Stress Testing for Commodity Derivatives Segment

Amendment to SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 (“ILMDS Regulations”)

IFSCA:

IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 (Updated as on August 03, 2026)

Clarification regarding Implementation Services by Investment Advisers in the IFSC

Directions to all Regulated Entities

Specification of Certification Course for the employees of Fund Management Entities under the IFSCA (Fund Management) Regulations, 2025", as the same has also been approved by the Competent Authority

Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025

IRDAI:

Submission of information by insurers on monthly basis for the purpose of Index of Service Production

DGFT:

Advisory against 2 Bhutanese firms as per para 8.07 (d) of Foreign Trade Policy- 2023 [Trade Notice No.19]

Review and re-allocation of allocated Export Quota of Wheat under HS Codes 10011900 and 10019910 [Trade Notice No.18]

Institutional Transition of Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) for the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan [Trade Notice No.17]

Inclusion of eligible DPIIT-Recognized Start-ups under "Source from India" on the Trade Connect ePlatform [Trade Notice No.16]

Streamlining of Halal Certification Process for Meat and Meat Products [Notification No.28]

Introduction of Inventory-based Cross-border E-Commerce Export Framework under FTP [Notification No.27]

Extension of Last Date for Submission of TRQ Applications under the India–United Kingdom Comprehensive Economic and Trade Agreement (CETA) for CY 2026–27 [Public Notice No.26]

Operationalisation of the Inventory-based Cross-border E-Commerce Facilitation Framework under the Handbook of Procedures, 2023 [Public Notice No.25]

Availability of License-wise Voluntary Duty Payment Details for processing of Export Obligation Discharge Certificate (EODC) applications under Advance Authorisation (AA) and Export Promotion Capital Goods (EPCG) Schemes [Trade Notice No.15]

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.69(NT)]

Implementation of MeitY Notification S.O. 4182(E) regarding extension of implementation timeline for compliance of IS 18112:2022 for Television Sets under Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2021 [Instruction No.14]

SOP for clearance of imported goods through Foreign Post Offices under the Postal Import Regulations, 2025 [Circular No.35]

Seeks to continue anti dumping duty on imports of “Phthalic Anhydride” originating in or exported from China PR and Korea RP for a further period of 5 years pursuant to sunset review by DGTR [Notification No.20(ADD)]