Relief
32stories
October 2026
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FEMA & RBIRBI allows one-time approval for mutual funds, insurers and pension funds to re-acquire major shareholding in a bank, up to 10 per cent
One-time approval, up to 10%ReliefRBI has amended its directions on acquisition and holding of shares or voting rights in banks. SEBI-registered mutual funds, IRDAI-registered insurers and PFRDA-registered pension funds outside the bank’s promoter group can get a one-time approval, through PRAVAAH, for subsequent acquisitions of major shareholding up to 10 per cent. Prior approval for the initial acquisition stays mandatory.
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FEMA & RBIForm A2 remittances: authorised dealers’ internal guidelines can now be approved by a Board committee or management committee, says RBI
A.P. (DIR) Circular 23ReliefRBI has modified its July 2024 circular on online submission of Form A2. Authorised dealers may now frame their internal guidelines for outward remittances with the approval of the Board or of any Board Committee / Management Committee to which the Board has delegated powers. All other instructions of the 2024 circular remain unchanged.
September 2026
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CustomsSAED on diesel exports cut to ₹16 per litre and on ATF exports to ₹10.5 per litre from 1 October 2026: Notifications 52 and 53/2026-Central Excise
Diesel ₹16, ATF ₹10.5 per litreReliefTwo Central Excise notifications dated 30 September 2026 revise the Special Additional Excise Duty on exports of diesel and Aviation Turbine Fuel with effect from 1 October 2026: diesel from ₹20 to ₹16 per litre and ATF from ₹15 to ₹10.5 per litre. The notifications issued since 3 August show the rate on diesel falling from ₹24 and on ATF from ₹22.
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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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CustomsImport duty on crude sunflower oil cut to Nil, on crude soybean and crude palm oil to 5% from 24 September 2026: Notification 31/2026-Customs
Crude sunflower oil: NilReliefThe Government has cut Basic Customs Duty on crude sunflower oil from 10% to Nil and on crude soybean and crude palm oil from 10% to 5%, with matching cuts on the refined oils. Notification No. 31/2026-Customs amends six entries of Notification No. 45/2025-Customs and is in force from 24 September 2026. Industry has been asked to pass the benefit on in prices.
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SEBIIRDAI repeals 2020 guidelines on repatriation of dividends by foreign-majority insurance intermediaries; prior approval requirement already removed
2020 dividend guidelines repealedReliefIRDAI has repealed its Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors, dated 3 January 2020, with effect from 30 July 2026. The Insurance Intermediaries (Amendment) Regulations, 2026 notified on that date removed the requirement of the Authority’s prior approval for repatriating dividends and the condition on related party payments.
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FEMA & RBIGold and silver import through IIBX: IFSCA widens who can be notified as a Qualified Jeweller — DGFT authorisation holders and GJEPC members can apply
Qualified Jeweller route widenedReliefIFSCA has relaxed the eligibility for being notified as a Qualified Jeweller for importing gold or silver through IIBX. Holders of a valid DGFT Advance Authorisation, a valid GJEPC Registration-cum-Membership Certificate, or a DGFT authorisation for specific ITC (HS) codes can now apply through IIBX. They must trade through a Bullion Trading Member and import only the authorised items.
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FEMA & RBIBanks can accept overseas-certified KYC documents from Foreign Portfolio Investors: RBI amends the Commercial Banks KYC Directions
KYC: certified copy for FPIsReliefRBI has amended paragraph 5(1)(v) of the Commercial Banks – Know Your Customer Directions, 2025. The option of taking an original certified copy of KYC documents — certified by an overseas bank branch, a notary abroad, a court magistrate, a judge or the Indian Embassy/Consulate — was available for NRIs and PIOs. It now also covers Foreign Portfolio Investors, with immediate effect from 18 September 2026.
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Foreign TradePre-shipment inspection certificates must be issued within 2 days of inspection
2 daysReliefDGFT has rewritten the PSIC timeline and given inspection agencies a one-time window of seven days to clear certificates held up for inspections done before 25 August 2026.
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CustomsEMI Scheme documents cut from ten to three from 15 September 2026; CBIC marks 10 years of AEO
10 → 3 documentsReliefCircular 39/2026-Customs dated 3 September 2026 rationalises the uploads under the Eligible Manufacturer Importer Scheme. CBIC also listed AEO process improvements under consideration.
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Foreign TradeExport consignments up to ₹3,00,000 no longer need an RCMC
₹3,00,000ReliefA new paragraph 2.57(c) in the Foreign Trade Policy exempts low-value export consignments from the Registration-cum-Membership Certificate requirement, with immediate effect. It is aimed at postal and courier exports.
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Foreign TradeNo RCMC needed for export consignments with FOB value up to ₹3 lakh: DGFT Notification No. 36/2026-27 amends FTP para 2.57
No RCMC up to ₹3 lakh FOBReliefDGFT has inserted sub-paragraph (c) in paragraph 2.57 of the Foreign Trade Policy 2023: the requirement of a Registration-cum-Membership Certificate or a Certificate of Registration does not apply to an export consignment whose FOB value does not exceed ₹3,00,000. The change has immediate effect from 15 September 2026.
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FEMA & RBIExpired placement memorandum can be revived: IFSCA allows extension even on a late application, at 50% extension fee plus a late fee the FME must bear
Expired PPM: late extensionReliefIFSCA may now extend the validity of an expired placement memorandum of a Venture Capital or Restricted Scheme even where the FME applies after expiry. The FME pays an extension fee of 50% of the fresh-filing fee for each six-month period plus a late fee of 50% of that extension fee, cannot make material changes, and cannot pass the late fee to the scheme or investors.
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CustomsCustoms to accept one-year EPR certificates of plastic-packaging importers as one-time registration
one-time registrationReliefImporters were stuck at clearance because their EPR certificates showed a one-year validity. CBIC has told officers to treat those certificates as one-time registrations that need no renewal, and to clear the consignments.
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SEBICommodity derivatives: SEBI revises penalties for client-level position limit breaches and the test for a “Broad” agricultural commodity
Penalty: 2% or ₹2 lakh, lowerReliefSEBI has revised the penal provisions for open-interest violations at client level in the commodity derivatives segment: the penalty is 2% of the value of the excess for the days it continues, or ₹2,00,000 (₹10,000 where the excess is up to 2% of the limit), whichever is lower. No additional penalty applies where the breach arises only from clubbing. The definition of “Broad Commodity” and client position limits are also revised.
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CustomsPlastic packaging imports: Customs to accept EPR certificates showing one-year validity as one-time registration — CBIC Instruction 15/2026-Customs
EPR certificate: no renewalReliefCBIC has asked Customs officers to clear consignments of plastic packaging, goods in plastic packaging, plastic raw material and intermediate material on verification of the importer’s EPR registration certificate. Certificates that show a one-year validity are to be treated as one-time registration certificates that need no renewal, and accepted as valid proof of EPR registration.
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SEBIFPIs: no investor group details for those investing only in Government Securities, and a digitally signed Power of Attorney to custodians is now accepted
No investor group detailsReliefTwo SEBI circulars ease compliance for Foreign Portfolio Investors. From 7 September 2026, FPIs investing only in Government Securities — by any route — need not furnish investor group details. From 20 August 2026, a Power of Attorney given by an FPI to its custodian may be executed with a digital signature under the Information Technology Act, 2000, without notarisation, apostille or consularisation.
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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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LabourEPFO’s VISHWAS, 2026: settle old PF damages at 0.25% to 1% a month — window closes 28 December 2026
28 December 2026ReliefThe one-time settlement scheme covers delayed PF contributions prior to 14 June 2024. EPFO says the closing date will not be extended.
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CustomsDeferred duty payment for manufacturers: EMI Scheme application cut from ten documents to three, enrolment opens 15 September 2026 — CBIC Circular 39/2026-Customs
10 documents → 3ReliefCBIC has trimmed the application for the Eligible Manufacturer Importer (EMI) Scheme, which gives deferred payment of customs import duty. Many data fields are dropped from Appendix-I, uploads fall from ten documents to three, and the Chartered Accountant’s certificate must now give reasons where net worth or net current assets are negative. Eligible importers can apply from 15 September 2026.
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