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August 2026
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Foreign TradeE-commerce exports get an inventory model: DGFT notifies the Exporter-on-Record framework; sellers to be paid within 7 days
Paid within 7 daysNew facilityNotification 27/2026-27 adds an Inventory-based Cross-border E-Commerce Facilitation Framework to the Foreign Trade Policy 2023. A registered Exporter-on-Record buys Indian-origin goods from sellers against confirmed export orders, holds them only for export, and passes on the export benefits.
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FEMA & RBIRBI keeps repo rate unchanged at 5.25%, stance neutral; next MPC meeting on 5–7 October 2026
5.25%The Monetary Policy Committee voted unanimously to hold the repo rate. GDP growth for 2026-27 is projected at 6.7% and CPI inflation at 5.0%.
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Income TaxCBDT FAQs on the Taxation and Other Laws (Amendment) Bill, 2026: electronics contract-manufacturing exemption to 2040-41, data centre conditions eased, new exemptions for rough diamonds
Six changes to the IT Act, 2025ClarifiedCBDT’s FAQs explain six proposals of the Taxation and Other Laws (Amendment) Bill, 2026 on the Income-tax Act, 2025: a ten-year extension of the exemption for foreign companies supplying capital goods to electronics contract manufacturers, easier data centre conditions, two new exemptions, dividend relief for unit holders of business trusts and five conditions instead of thirteen for offshore funds.
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Startup & MSMEECLGS 5.0: MSMEs can get additional credit up to 20% of peak working capital, with 100% guarantee cover
₹2.55 lakh croreReliefIn a Rajya Sabha reply the Government set out the Emergency Credit Line Guarantee Scheme 5.0, introduced in May 2026, and SIDBI’s direct-credit growth.
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FEMA & RBIIFSCA modifies AML, CFT and KYC Guidelines: all FIU reports only on FINgate 2.0, cross-border wire transfer reports named, NRI onboarding list of countries revised
FIU reports only on FINgate 2.0Rule changeIFSCA has modified its AML, CFT and KYC Guidelines, 2022. Regulated entities must file all reports online only at FIU-India’s FINgate 2.0 portal; rule 8 of the PML rules is added to clause 10.3; Cross Border Wire Transfer Reports are written into the guidance note; and the list of countries from which an NRI customer’s IP address may emanate is substituted with nine jurisdictions.
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Foreign TradeSeven new SIONs A-3708 to A-3714 notified for pharma products including Meropenem and Liraglutide: DGFT Public Notice No. 23/2026-27
SION A-3708 to A-3714New facilityDGFT has notified seven new Standard Input Output Norms, A-3708 to A-3714, under “Chemical and Allied Product” (Product Code ‘A’). They cover Theophylline, a Liraglutide pen injection, Lumefantrine, three strengths of Meropenem injection and ophthalmic solutions. Regional Authorities can now grant Advance Authorisations for these directly.
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GSTCBIC asks CGST zones to take illegal-mining data from State Mining Departments and examine it for GST evasion
Nodal Officer in each zoneRule changeInstruction 01/2026-GST follows a draft C&AG performance audit on GST on minerals, which found no structured mechanism for State Mining Authorities to share cases of illegal mining and transport with the GST formations.
July 2026
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Foreign TradeImport of goods made with forced labour is prohibited under new FTP Para 2.20B
prohibitedRule changeThe Foreign Trade Policy now carries a prohibition on importing goods produced, wholly or in part, with forced labour. The Central Government will name the goods by notification after an enquiry by DGFT.
June 2026
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Company LawDPT-3 for FY 2025-26: MCA allowed filing without additional fees till 31 July 2026 after data centre fire
No extra fee till 31 JulyReliefBy General Circular No. 02/2026 of 19 June 2026, the Ministry of Corporate Affairs allowed companies to file Form DPT-3 (return of deposits) for the financial year 2025-26 without additional fees up to 31 July 2026, because of restoration work at its data centre after a fire on 5 June 2026.
May 2026
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GSTGST refund of accumulated ITC: Annexure-B must now be filed through the portal’s offline utility
Annexure-B in ExcelAction neededThe GST portal advisory of 18 May 2026 replaces the PDF Annexure-B with a standard Excel offline utility for refunds of accumulated input tax credit — exports and SEZ supplies without tax, inverted tax structure, and export of electricity. Invoices are reported HSN/SAC-wise and checked against GSTR-2B.
April 2026
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LabourMaharashtra profession tax: March and annual returns now due on 15 March; late fee waived for March 2026 returns filed by 30 April
Due date: 15 MarchRule changeMaharashtra amended rule 11 of its Profession Tax Rules on 28 February 2026, bringing the due date for the March return and for annual returns forward to 15 March. After portal problems, Trade Circular 2T of 2026 waived the whole late fee for March 2026 and FY 2025-26 PTRC returns filed by 30 April 2026 where the tax was paid by 15 March.
March 2026
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Income TaxTax residency certificate: apply in Form No. 42, certificate issued in Form No. 43 under rule 75 of the Income-tax Rules, 2026
Form 42 → Form 43Rule changeRule 75 of the Income-tax Rules, 2026 sets the forms for double taxation relief: a resident applies to the Assessing Officer for a certificate of residence in Form No. 42 and receives it in Form No. 43; a non-resident gives the other information for treaty relief in Form No. 41.
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Income TaxHRA exemption: Hyderabad, Pune, Ahmedabad and Bengaluru join the 50% list under the Income-tax Rules, 2026
8 cities at 50%Rule changeRule 279 of the Income-tax Rules, 2026, in force from 1 April 2026, lists eight places for the 50%-of-salary limit of the house rent allowance exemption: Mumbai, Kolkata, Delhi, Chennai, Hyderabad, Pune, Ahmedabad and Bengaluru. Every other place stays at 40%.
February 2026
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GSTPan masala and tobacco: GST value now worked out from the retail sale price, from 1 February 2026
Value = RSP less taxRule changeFrom 1 February 2026, the value of supply of pan masala and notified tobacco goods on which a retail sale price is declared is the retail sale price less the tax, under new rule 31D of the CGST Rules read with Notification No. 19/2025-Central Tax.
January 2026
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Accounting & AuditICAI CPE hours from 2026: 30 hours for members aged 60–70 in practice, plus 3 compulsory hours on auditing, ethics and digital technology
CPE from 1 Jan 2026Rule changeFrom calendar year 2026, ICAI members holding a certificate of practice need 40 CPE hours below age 60, 30 hours at 60–70, 20 hours at 70–80 and 10 hours at 80 and above. Non-practising members aged 60 and above are exempt, and one structured hour each on Standards on Auditing, Code of Ethics and Digital Technology is compulsory.
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