Statutory updates

FAQs on Annual Return on Foreign Liabilities and Assets under FEMA

The International Financial Services Centres Authority (IFSCA) has issued a circular regarding the FAQs on the Annual Return on Foreign Liabilities and Assets (FLA) under FEMA…

Gross and Net GST Revenue Collections for April 2026

Team GSTN publishes the gross and net Goods and Services Tax revenue collections for the month of April 2026.

01/2026-Central Tax (Rate) : Seeks to amend Notification No 9/2025 - Central tax (Rate) to align them with changes made vide Finance Act, 2026 (as updated vide Corrigendum dated 06.05.2026)

Amendment to Integrated Tax Rate Notification 9/2025

The Central Government amends notification No. 9/2025-Integrated Tax (Rate) to substitute entries in Schedule I and Schedule III.

Amendment to Union Territory Tax Rate Notification 9/2025

The Central Government amends Notification No. 9/2025-Union Territory Tax (Rate) to substitute tariff entries in Schedule I and Schedule III.

Amendment of Customs Notifications Following Finance Act 2026

The Central Government has issued Notification No. 14/2026-Customs to amend twenty-three existing customs notifications.

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

The Central Board of Indirect Taxes and Customs has updated the tariff values for specific imported goods, including various edible oils, brass scrap, gold, and silver.

Alignment of RoDTEP Schedule with Customs Tariff Act

The Directorate General of Foreign Trade (DGFT) has amended the Remission of Duties and Taxes on Exported Products (RoDTEP) schedules, specifically Appendix 4R and Appendix 4RE…

Audit Quality Inspection Guidelines

The National Financial Reporting Authority conducts audit quality inspections to evaluate auditor compliance with auditing standards and quality control systems.

Citizenship Amendment Rules 2026

The Central Government amends the Citizenship Rules, 2009 to update procedures for Overseas Citizen of India (OCI) cardholders.

Extension in Minimum Import Price Condition of Specific Items under Chapter 48

The Directorate General of Foreign Trade has extended the Minimum Import Price (MIP) condition for specific items under Chapter 48 of the ITC (HS) 2022, Schedule-I.

Fast-Track Mechanism for Processing of Placement Memorandum of AIFs

SEBI has introduced a fast-track mechanism for the launch of schemes and circulation of Private Placement Memorandums (PPMs) for Angel Funds and non-Large Value Fund (non-LVF) AIF…

Foreign Exchange Management (Authorised Persons) Regulations, 2026 (Notification No. FEMA 401/2026-RB dated April 30, 2026)

NABL Accredited Laboratories under Section 43(1) of FSS Act

The Food Safety and Standards Authority of India amends the list of NABL accredited laboratories authorized for food testing.

Modalities for Export of Wheat

The Directorate General of Foreign Trade (DGFT) has established the procedural framework for the export of 25 Lakh Metric Tonnes (LMT) of wheat, as previously notified.

Norms and Manner of Reporting for International Branch Campuses of Foreign Universities in GIFT IFSC

The International Financial Services Centres Authority (IFSCA) has established reporting norms for International Branch Campuses (IBCs) of foreign universities operating in the…

Conduct of Government Business by Agency Banks: Payment of Agency Commission and Oversight

The Reserve Bank of India issues these directions to govern the conduct of government business by Agency Banks.

Conduct of Government Business by Agency Banks - Payment of Agency Commission and Oversight of ABs Directions, 2026

The Reserve Bank of India issues these directions to regulate the conduct of government business by Agency Banks.