Rule change
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August 2026
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Company LawNCLT e-Certified Copy: how to apply, the 7-day payment window, and why each copy can be used for one filing only
One copy, one filingRule changeNCLT’s Standard Operating Procedure for e-Certified Copies sets out the route on the e-Filing portal: one application per copy, payment within 7 days of approval, and a digitally signed Facing Sheet with QR code. Once a copy is authenticated by a court or tribunal it cannot be used again; a fresh copy has to be applied for.
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FSSAIPan masala packaging: FSSAI adds paper-based material free of any plastic or aluminium foil, and tin or glass containers, to Schedule IV of the Packaging Regulations
Pan masala: paper, tin or glassRule changeThe Food Safety and Standards (Packaging) Amendment Regulations, 2026 insert a new entry for pan masala in Schedule IV — the list of suggestive packaging materials. It names paper, paper board, cellulose or other naturally derived materials that are free from any plastic and from aluminium foil or metallised layers, and tin or glass containers. The regulations are in force from publication in the Official Gazette; the Gazette issue is dated 10 August 2026.
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Foreign TradeInterest subvention on export credit: EXIM Bank replaces RBI as implementing agency from 1 April 2026
RBI → EXIM BankRule changeTrade Notice 17/2026-27 records the transition under the Export Promotion Mission – Niryat Protsahan. Banks will now claim reimbursement from EXIM Bank; the benefit still reaches the MSME exporter upfront.
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FEMA & RBIRBI issues final Directions on loan recovery and recovery agents; in force from 1 January 2027
1 January 2027Rule changeThe Amendment Directions cover fair treatment of borrowers, conduct of employees and recovery agents, and technology-based recovery on financed mobile devices — for banks, NBFCs and HFCs.
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LicencesDrugs Rules, 1945 amended: applicants who submit fake or fabricated data can be debarred from filing further applications
Fake data: applicant debarredRule changeThe Union Health Ministry says it has notified amendments to the Drugs Rules, 1945 that empower the Licensing Authority to debar entities submitting fake or fabricated data from filing further applications for a specified period. A show-cause notice must be issued first, and an appeal is provided.
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CustomsParcels from abroad: CBIC sets one procedure for all Foreign Post Offices; no reply to a document call in 30 days means assessment on record
30 days to replyRule changeCircular 35/2026-Customs prescribes a uniform SOP for personal postal imports processed through the FPO Import Application, which is live at eight locations and linked to the Risk Management System.
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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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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.
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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