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October 2026
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LicencesGovernment approves cap on margins of non-scheduled anti-cancer drugs at 30% of MRP; NPPA to notify after DGHS expert committee finalises the list
Margin cap: 30% of MRPReliefThe Government has approved a cap on the margins charged in the supply and sale of non-scheduled anti-cancer drugs, limiting them to 30% of the Maximum Retail Price, according to a Department of Pharmaceuticals release of 8 October 2026. An expert committee under the Directorate General of Health Services will finalise the list of medicines, after which NPPA will take a decision and issue the notification. Manufacturers of these drugs will be required to maintain their current production levels.
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LabourESIC revises constitution and functioning of Medical Boards under section 37 of the Code on Social Security, 2020: Fixed Medical Board to meet at least once a month
Board at least once every monthRule changeESIC has issued revised arrangements, with immediate effect, for the Medical Boards that examine and assess Insured Persons under section 37 of the Code on Social Security, 2020. A Fixed Medical Board is ordinarily to meet at least once every month, a Rotational Peripatetic Medical Board will sit at different ESIC/ESIS Hospitals as required, and the Special Medical Board for occupational disease cases continues at designated centres.
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SEBISEBI lets certain listed, regulated issuers skip the merchant banker for ₹10,000 face value privately placed debt rated AA- or above: Circular HO/17/11/24(7)2026-DDHS-POD1/I/23122/2026
Rated AA- or aboveReliefSEBI has relaxed the rule that an issuer must appoint at least one merchant banker when it privately places debt securities or non-convertible redeemable preference shares at a face value of ₹10,000. An issuer may now go without a merchant banker if it meets five conditions together, covering its regulator, listing record, default history, the security offered and a rating of at least AA-. The change took effect immediately on 7 October 2026.
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SEBISEBI makes a colour-coded Credit Risk-o-Meter mandatory in debt offer documents, advertisements and online bond platforms: Circular HO/17/11/22(1)2026-DDHS-POD1/I/23092/2026
Six risk levels, AAA to DNew facilitySEBI has introduced a Credit Risk-o-Meter, a colour-coded pictorial meter that maps credit ratings from AAA to D into six levels of credit risk. It becomes a mandatory part of offer documents, abridged prospectuses, private placement memoranda, all advertisements of issuers and Online Bond Platform Providers (OBPPs), and the web and mobile platforms of OBPPs. The circular comes into force after 45 days from its date of issuance, 7 October 2026.
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CustomsNon-EDI Customs locations to authenticate Export Declaration Forms and forward them to the Authorised Dealer, preferably by official e-mail: CBIC Instruction 19/2026-Customs
EDF mechanism from 1 Oct 2026Rule changeCBIC has directed Commissioners of Customs to make sure that Export Declaration Forms (EDFs) furnished at Non-EDI Customs locations are authenticated and forwarded to the Authorised Dealer named in the form. The instruction follows the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, in effect from 1 October 2026, and asks that the mechanism be operational from the same date.
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Startup & MSMEGOBARdhan compressed biogas scheme launched: ₹23,731 crore outlay, capital assistance up to ₹2 crore per TPD and credit guarantee for MSME plants
CBG price ₹2,110 per MMBtuNew facilityGOBARdhan, the unified scheme for compressed biogas (CBG), was approved by the Union Cabinet on 6 August 2026 with an outlay of ₹23,731 crore for FY 2026-27 to FY 2035-36 and launched on 1 October 2026 with a Handbook and a Unified GOBARdhan Portal. It offers an administered CBG price of ₹2,110 per MMBtu, capital assistance and a credit guarantee for MSME projects.
September 2026
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Accounting & AuditNFRA lists 35 questions an audit committee may put to the statutory auditor on going concern under SA 570 (Revised)
Going concern: 35 questionsNew facilitySeries 6 of NFRA’s Auditor–Audit Committee Interaction papers deals with the going concern assessment. It sets out six situations under SA 570 (Revised) with the reporting outcome of each, explains why the CARO 2020 clause 3(xix) answer can differ from the SA 570 conclusion, and lists 35 questions an auditor may expect.
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FEMA & RBIIFSCA issues differential distribution framework for Venture Capital and Restricted Schemes: one senior class, junior units from USD 2 million, grants up to 49% for ESG schemes
Junior units: min USD 2 millionNew facilityIFSCA has issued the framework under which Venture Capital Schemes and Restricted Schemes in the IFSC can issue senior and junior or subordinate units with different distribution rights, to facilitate blended finance. Minimum investment in junior units is USD 2 million (USD 1 million for accredited investors). ESG schemes may accept grants up to 49% of corpus.
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SEBIAccredited Investor framework: SEBI Board approves accreditation by AIF, SIF and PMS managers, a ₹5 crore market-exposure test and deemed status for non-residents
Accreditation by fund managersReliefThe SEBI Board has approved four changes to the Accredited Investor framework: managers of AIFs, AMCs offering SIFs and portfolio managers may accredit investors; securities market exposure becomes an eligibility test; persons resident outside India are deemed accredited; and LLPs can qualify. It also approved extending to all AIFs the bar on a manager using fund assets for its own losses.
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CustomsIndia–UK CETA: importers need not file Form-I with the Bill of Entry to claim preferential duty, CBIC clarifies
No Form-I at filingClarifiedCircular 43/2026-Customs says a valid Origin Declaration by the UK exporter is the proof of origin, Form-I under CAROTAR is not a precondition, and an earlier denial cannot be applied to later imports without hearing the importer.
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Legal & DisputesTRAI amends spam-call regulations: AI-based detection, pre-declared A2P calls, a 7-day inquiry window and a consumer appeal
TCCCPR Third Amendment 2026Rule changeTRAI has introduced the Telecom Commercial Communication Customer Preference (Third Amendment) Regulations, 2026. Businesses using automated (A2P) calls must pre-declare them to their telecom provider; commercial messages on the basis of a customer’s inquiry are allowed only for seven days; and action against a sender can start at three complaints in ten days if its number is also flagged by AI.
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FEMA & RBIIFSC distributors: IFSCA adds UAE, Singapore, Australia and the European Union as specified jurisdictions; “jurisdiction” means where the product is domiciled
4 jurisdictions addedClarifiedIFSCA has amended its Master Circular for Distributors in the IFSC. UAE, Singapore, Australia and the European Union are specified as jurisdictions for regulation 32(1)(a) and (c) of the Capital Market Intermediaries Regulations, 2025, provided they are not FATF-listed or notified as high risk. “Jurisdiction” refers to the domicile of the product, not the location of its manager.
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Legal & DisputesCCPA imposes ₹10 lakh penalty on Rapido for pre-ride “pay more” prompts held to be dark patterns
₹10 lakh penalty on RapidoThe Central Consumer Protection Authority has imposed a ₹10 lakh penalty on Roppen Transportation Services Private Limited, which operates Rapido, for misleading advertisements, unfair trade practices, unfair contract and dark patterns. Prompts asking riders to add to the fare before a ride was confirmed were held to be “confirm shaming”, and the colour-coded price slider “interface interference”.
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FEMA & RBIUPI stays free for person-to-person transfers and merchant payments up to ₹2,000; 0.4% MDR on specified merchant payments above ₹2,000, says Finance Ministry
UPI: 0.4% MDR above ₹2,000ClarifiedThe Ministry of Finance says the new UPI framework under the Payment and Settlement Systems Act, 2007 does not touch person-to-person transfers. Merchant payments up to ₹2,000 and small merchants receiving up to ₹1 lakh a month stay at zero MDR. A 0.4% MDR applies to merchant payments above ₹2,000, capped at ₹300 for ₹75,000 and above; customers are not to be charged.
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FSSAIFood sample analysis: reports within 14 days, import samples within 5 days from 1 April 2027 — FSS (Laboratory and Sample Analysis) Amendment Regulations, 2026
Reports in 14 days; imports in 5Rule changeFSSAI has amended the Food Safety and Standards (Laboratory and Sample Analysis) Regulations, 2011. From 1 April 2027, the Food Analyst must issue a signed report within fourteen days of receiving a regulatory sample, the referral laboratory within fourteen days in appeal, and the notified or referral laboratory within five days for import samples. New regulations on the method of analysis are added, and Forms A and B are omitted.
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Foreign TradeIndia and MERCOSUR sign First Additional Protocol to the PTA: electronic Certificates of Origin to have the same legal validity as paper ones
India–MERCOSUR: e-CoO acceptedNew facilityIndia and MERCOSUR have signed the First Additional Protocol to their Preferential Trade Agreement. It amends Article 16 of Annex III (Rules of Origin) so that Certificates of Origin issued in electronic format have the same legal validity as paper ones. The Protocol enters into force only after both sides complete their internal procedures and notify each other.
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Foreign TradeDGFT proposes to rewrite Para 2.93 of the Handbook of Procedures on non-preferential Rules of Origin, for exports and imports: Trade Notice 27/2026-27
Comments within 15 daysComments invitedDGFT has published a draft Public Notice that would replace Para 2.93 of the Handbook of Procedures, 2023 so that it prescribes non-preferential Rules of Origin for both exports and imports. For imports, the draft proposes origin by change in tariff heading or 35% value addition, declared by the importer through a self-declaration. Comments are invited within 15 days.
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Income TaxDepositories and mutual fund RTAs to report capital-gains data to the Income Tax Department every half year: SFT-2517 and SFT-2518 formats notified
By 31 October and 30 AprilNew facilityThe Directorate of Income Tax (Systems) has notified the format and procedure for two statements of financial transactions under section 508(1) of the Income-tax Act, 2025: SFT-2517 for depositories and SFT-2518 for registrars and share transfer agents of mutual funds. The data, used to pre-fill capital gains in the return, is due half-yearly — by 31 October and 30 April — and must also be given to the account holder.
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FEMA & RBIRBI withdraws seven old FEMA circulars — five on ECB, one on tax-free bonds, one on MTSS sub-agents: A.P. (DIR Series) Circular No. 21
7 FEMA circulars withdrawnRBI is reviewing every circular issued under FEMA since 1 June 2000. By A.P. (DIR Series) Circular No. 21 dated 8 September 2026 it has withdrawn seven circulars issued between 2012 and 2015 that had ceased to be operative: five on External Commercial Borrowings, one on non-resident investment in tax-free bonds and one on the Money Transfer Service Scheme.
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Foreign TradeExporters can now connect their ERP to DGFT’s Certificate of Origin system
connect their ERPNew facilityAn Open API on the Trade Connect e-Platform lets an exporter’s own software file Certificate of Origin applications and verify issued certificates, for both preferential and non-preferential certificates.
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