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October 2026
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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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Foreign TradeCabinet approves Integrated Transport & Logistics Authority (ITLA) as an SPV; technical appraisal for central infrastructure projects of ₹500 crore or more
Projects of ₹500 crore or moreNew facilityThe Union Cabinet on 6 October 2026 approved the setting up of a Special Purpose Vehicle, the Integrated Transport & Logistics Authority (ITLA), for research, planning, appraisal, monitoring and impact assessment in transportation and logistics. ITLA will prepare a National Transport Master Plan, technically appraise Government of India infrastructure projects costing ₹500 crore or more, and build a National Transport Data Repository using sources such as GSTN e-way bill, FASTag and Vahan. The release does not say when ITLA will start functioning.
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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.
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GSTGross GST collection for September 2026 at ₹2,03,521 crore, up 14.7%; net revenue ₹1,76,520 crore after refunds of ₹27,001 crore
₹2,03,521 crore, up 14.7%Gross GST revenue for September 2026 was ₹2,03,521 crore against ₹1,77,365 crore in September 2025, a growth of 14.7%. Domestic revenue grew 10.1% and import revenue 25.9%. Refunds were ₹27,001 crore, 3.0% lower, leaving net revenue of ₹1,76,520 crore, up 18.1%. The figures are provisional.
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FEMA & RBINRD-CSR return on non-resident deposits to be filed on RBI’s CIMS Sankalan portal as return R012; 2013 XBRL circular superseded
File by 10th of next monthAction neededRBI has issued a fresh circular on the monthly Non-Resident Deposits – Comprehensive Single Return (NRD-CSR). The return, code R012, is filed on the CIMS Sankalan portal through one of three channels, on or before the 10th of the following month. The circular supersedes A.P. (DIR Series) Circular No. 19 of 7 August 2013, which provided for filing on the XBRL platform.
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GSTGST portal opens “Multistate Registration”: apply for several States under one PAN in one go
One PAN, many StatesNew facilityGSTN has added a Multistate Registration tab on the portal home page. Common details are entered once through a Master TRN and flow into each State application. For now it is only for normal taxpayers.
September 2026
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Startup & MSMEPRIP scheme second call open: new discovery track of up to ₹50 crore for startups and MSMEs, alongside early-stage and later-stage tracks
PRIP: up to ₹50 crore new trackNew facilityThe Department of Pharmaceuticals has opened the PRIP portal for the second call of the ₹5,000 crore Promotion of Research and Innovation in Pharma & MedTech scheme and added a New Discovery track: up to ₹50 crore for startups and MSMEs doing NCE/NBE projects at TRL 1–3, with at least 25% co-funding from bona fide institutional investors.
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LicencesCAQM approves revised GRAP schedule for NCR: DG set and bus curbs move to Stage I, essential-goods exemption for BS-IV goods vehicles removed
Revised GRAP: 48 actionsRule changeThe Commission for Air Quality Management approved modifications to the GRAP Schedule for the NCR at its 30th Full Commission meeting on 28 September 2026. Actions on DG sets and BS-IV and below buses move from Stage II to Stage I, Sonipat is added to the districts with LMV restrictions, and web-portal dust monitoring is extended to C&D projects beyond municipal limits.
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CustomsThree more certificates on ICEGATE’s SWIFT 2.0 dashboard: Legal Metrology importer registration, MNRE concessional duty certificate and Coffee Board export permit
SWIFT 2.0: three more LPCOsNew facilityCBIC has brought three more certificates onto the SWIFT 2.0 Unified Dashboard on ICEGATE. The Legal Metrology certificate of registration of importer of weights and measures is now applied for there, all over India, and no longer on the LM portal. The MNRE Concessional Customs Duty Certificate (from 7 August 2026) and the Coffee Board Export Permit Certificate (from 27 July 2026) can be tracked and downloaded.
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Startup & MSMECGTMSE guarantee cover goes live on TReDS: 75% cover on invoice discounting where both buyer and seller are micro or small enterprises
CGTMSE cover on TReDS: 75%New facilityThe Ministry of MSME has rolled out credit guarantee cover on invoice discounting through TReDS. The CGTMSE portal is integrated with three platforms — M1xchange, RXIL and DTX (KredX). Under the Special Provision, both buyer and seller must be micro or small enterprises; the cover is 75% of the amount in default, with exposure up to ₹10 crore for a buyer and ₹2 crore for a seller.
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FEMA & RBIRBI finalises rules on novation of OTC derivative contracts; instructions folded into four existing Directions and apply from 22 September 2026
OTC derivative novationRule changeRBI has finalised its instructions on novation of OTC derivative contracts, first released as a draft on 9 July 2025. Instead of a separate direction, the instructions are inserted in the four Directions governing OTC foreign exchange, rupee interest rate, government securities and credit derivatives. They apply to any novation undertaken on or after 22 September 2026.
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GSTNew DSC token issued on or after 21 September 2026? Upgrade to emSigner 3.3 for the GST portal
emSigner 3.3Action neededGSTN has released emSigner version 3.3 for tokens issued on or after 21 September 2026. Older versions will not work with the new tokens; existing working DSCs need no change.
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Income TaxForm No. 98 for declarations in Form No. 97: Income Tax Department lays down registration and filing procedure
Form 98 by 31 OctoberAction neededDGIT (Systems) has notified how a reporting person registers on the Reporting Portal, gets an ITDREIN and files, corrects or deletes the statement in Form No. 98 under rule 160 of the Income-tax Rules, 2026.
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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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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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InsolvencyIBBI lists six red flags of IBC misuse; insolvency professionals must apply to the Adjudicating Authority where the process serves a fraudulent purpose — Circular 105
Six red flags for IPsClarifiedIBBI says it has information from law enforcement and regulatory agencies that the IBC framework is, in certain cases, being misused for purposes other than insolvency resolution or liquidation. Circular No. IBBI/CIRP/105/2026 dated 9 September 2026 gives insolvency professionals six illustrative indicators to watch for and requires an application to the Adjudicating Authority where, on reasonable grounds, the process appears to serve a fraudulent or malicious purpose.
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GSTGST appeal in Form APL-01 can now be filed even when the demand order shows NIL or zero
APL-01 opens for NIL demandReliefGSTN has removed the portal validation that stopped appeals against demand orders showing a NIL or zero amount, where the liability is disputed and the payment was made before the order.
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CustomsCustoms opens NAC Portal: classification and valuation decisions, CAAR rulings and audit objections in one searchable place
naccustoms.gov.inNew facilityCircular 41/2026-Customs announces the National Assessment Centre Portal at naccustoms.gov.in, open to importers and Customs Brokers, with keyword search and downloadable documents.
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FEMA & RBINatural-calamity relief: banks, NBFCs and AIFIs to file a half-yearly return on RBI’s CIMS portal within 30 days; monthly return for commercial banks discontinued
Half-yearly return on CIMSRule changeRBI has asked all regulated entities to report relief measures extended in areas affected by natural calamities through a half-yearly return on the CIMS portal. The return is due within 30 days of each half-year — by 30 October for the half-year ending 30 September and by 30 April for the half-year ending 31 March. The earlier monthly return for Scheduled Commercial Banks stands discontinued from 1 July 2026.
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Foreign TradeDGFT starts automatic issue of Free Sale and Commerce Certificates for eligible applications
Auto-issuedReliefEligible applications on the DGFT portal will be issued without manual scrutiny by the Regional Authority. Others continue on the manual route, and auto-approved cases can be flagged for review.
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