Weekly Newsletter - October 15, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

SEBI Drafts

Acts & Regulations:

RBI Directions

SEBI Regulations

From the ICAI:

ICAI Guidance Note

International Content:

FRC Reference Materials

Tech Zone – Simplifying Technology for CAs:

Tech Tips Classics

Legal Updates:

Income Tax

GST

RBI

SEBI

DGFT

Customs

News Update:

Indian News:

Rs 429-crore multi-state GST fraud unearthed in Punjab

Sebi writes to Irdai to include insurance data in consolidated statement

Supreme Court upholds quashing of Yes Bank's ₹8,415 cr AT-1 bond write-off

Sebi proposes market cap-based SME listing norms, lower application size

ED seizes ₹2,033 crore worth of Reliance Power assets

NFRA flags SA 260 compliance gaps, warns against tick-box auditor communication with audit committees

India tightens Mauritius tax treaty, adds test to deny tax-driven benefits

EPFO extends ECR deadline to October 31, 2026

Explained: What is Account Aggregator framework, and how does it work?

Man earns Rs 75 lakh by redeveloping property inherited from mother, pays no income tax

CBI arrests CA, three businessmen in funds diversion probe involving Chandigarh Smart City, CREST

CBDT nudges 12,000 tax professionals to file audit reports by October 21

Sebi proposes tighter IPO proceeds monitoring, fines for defaulting firms

Sebi extends relaxation to revise fresh issue size till March 2027

Centre & states to draft rules for existing arrest cases under GST

UPI MDR deferred until after Diwali, new date to be notified: NPCI

RBI tightens rupee derivatives rules, widens 20% cash reserve requirement

Sebi nudges brokerage firms to join return verification platform

Sebi notifies common ad code, allows celebrity endorsements for brands

GST move puts subscription model under pressure

ITAT Relief on Rental Income from IT Park

SEBI Credit Risk-o-Meter for bonds: How the new colour-coded system will help investors assess risk

GST Council proposes 2% TDS on scrap deals

CBDT amends Income Tax Form 161: What changes for taxpayers seeking penalty waiver?

Landowner gets Rs 6 crore by selling TDRs, pays no tax; ITAT Bangalore rules TDR sale taxable as capital gains

ITAT Mumbai deletes penalty because tax officer invoked wrong provision

SEBI to issue AI, machine learning guidelines shortly; eyes expiry-day settlement rules within a week : Tuhin Kanta Pandey

Sebi notifies new settlement rule; unveils formula, fast-track route. Check details

EY data breach puts spotlight on data security at Big Four as clients demand tighter controls

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:

Going concern: What CPAs in audit and finance should know

US hits Bank of America with $1.2 billion fine, says it violated money laundering, sanctions laws

IFAC sets new global principles for accountants

Why data analytics is crucial in improving audit quality

Exposure Drafts:

ICAI Exposure Draft:

Investments in Associates and Joint Ventures -
Amendments to Ind AS 28
[Last date for Comments: November 14, 2026] 

SEBI Drafts:

Consultation Paper on Recommendations pursuant to Review of provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 related to Initial Public Offer by Small and Medium Enterprises
[Last date for Comments: November 4, 2026] 

Consultation Paper on Recommendations of the Working Group for review of SEBI LODR Regulations, 2015 - Review of Framework for Monitoring and Disclosure of Utilization of Issue Proceeds
[Last date for Comments: November 3, 2026] 

Acts & Regulations:

RBI Directions:

RBI Master Circulars & Directions — New and Updated as on October 09, 2026

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

SEBI Regulations:

SEBI (Portfolio Managers) Regulations, 2026
(w.e.f. April 1, 2027)

SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026
[Published on October 6, 2026]

From the ICAI:

ICAI Guidance Note:

Guidance Note on Report Under Section 92E of The Income-Tax Act, 1961 (Transfer Pricing)
[Revised 2026]

International Content:

FRC Reference Materials:

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

Tech Zone – Simplifying Technology for CAs:

Tech Tips Classics:

Windows Classics

File & Folder Classics

Browser Classics

PDF Classics

Excel Classics

Everyday Micro-Efficiency Classics

Data Security & Privacy Classics

AI Classics

Legal Updates:

Income Tax:

Protocol amending the Convention between the Government of the Republic of India and the Government of Mauritius [Notification No.135]

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

GST:

FAQs in relation to recommendations of the 57th GST Council Meeting

Annual Returns in the form of GSTR-9/9C for FY 2025-26

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

RBI:

Risk Management and Inter-Bank Dealings [Circular No. 27]

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:

SEBI (Research Analysts) (Amendment) Regulations, 2026

SEBI (Employees' Service) (Second Amendment) Regulations, 2026

SEBI (Mutual Funds) (Second Amendment) Regulations, 2026

SEBI (Intermediaries) (Second Amendment) Regulations, 2026

SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2026

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:

Simplified procedure for expedited issuance of import authorisations for silver bullion under ITC(HS) 7106 [Trade Notice No.30]

Amendment in Export Policy of Prepared Culture Media [Notification No.44]

Amendment in Import Policy of Glufosinate and its salts covered under Chapter 38 of Schedule–I (Import Policy) of ITС (HS), 2022 [Notification No.43]

Clarification on import of Silver under ITC(HS) 71069221 against Import Authorisation for import of Restricted items issued by DGFT [Circular No.2]

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:

Notification of ICD at Mandalgarh, Bhilwara, Rajasthan u/s. 7(1)(aa) of Customs Act, 1962 [Notification No.83(NT)]

Customs Tariff (Determination of Origin of Goods under the Free Trade Agreement between India and NewZealand) Rules, 2026 [Notification No.82(NT)]

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]