Regulatory updates
Recent notifications, circulars and announcements from MCA, RBI, IBBI, the tax authorities and other regulators that affect companies and LLPs, each with a short summary and a link to the official source.
October 2026
- Other
Amnesty for PF trusts to regularise exempt status, open till 28 December 2026
Provident fund trusts recognised under the Income-tax Act, 1961 that do not hold a formal exemption order under section 17 of the EPF & MP Act, 1952 or section 143 of the Code on Social Security, 2020 may regularise their exempt status retrospectively under a one-time amnesty in the EPF Scheme, 2026 (notified 29 June 2026). Eligible trusts are relieved of the Code's minimum headcount, minimum corpus and three-year compliance conditions, and may then choose to operate as an exempt or unexempt establishment. The window closes on 28 December 2026; the application procedure is set out in an EPFO circular dated 11 July 2026.
PIB press release (Ministry of Labour & Employment), Release ID 2322732 dated 13 October 2026
Official source: PIB press release ↗ - RBI
Regulatory measures for the foreign exchange market
The Reserve Bank announced four measures: limits on rebooking cancelled foreign exchange derivative contracts, a lower threshold for derivatives taken without an underlying exposure, additional verification documents, and a Foreign Exchange Risk Reserve. Companies that hedge currency exposure should check the operative directions with their bank.
RBI press release dated 10 October 2026
Official source: RBI press release ↗ - GST
Recommendations of the 57th GST Council meeting
The Council recommended changes to registration, cancellation, refunds, input tax credit, e-way bills and dispute resolution, removal of arrest provisions, and approved in principle an optional quarterly-payment scheme. None of this applies until the related circulars, notifications or amendments are issued.
Recommendations only; not yet in force
Official source: PIB press release ↗ - CBDT
Income-tax (Sixth Amendment) Rules, 2026: applications for penalty waiver
Rule 231 now also covers applications for waiver of penalty under section 440(2) of the Income-tax Act, 2025, and Form No. 161 has been replaced with a revised application form.
CBDT Notification No. 134 of 2026
Official source: CBDT notification (PDF) ↗ - RBI
Form A2: who may approve banks' internal guidelines
Internal guidelines that authorised dealer banks frame for accepting Form A2 for outward remittances, online or physically, may now be approved by the bank's board or by a board or management committee with delegated powers. All other instructions in A.P. (DIR Series) Circular No. 12 of 3 July 2024 continue.
A.P. (DIR Series) Circular No. 23 dated 1 October 2026
Official source: RBI circular ↗
September 2026
- DGFT
RoDTEP scheme extended to 31 December 2026
Remission of Duties and Taxes on Exported Products continues up to 31 December 2026 for exports by DTA units, advance authorisation holders, SEZ units and EOUs.
DGFT Notification No. 41/2026-27 dated 30 September 2026
Official source: PIB press release ↗ - CBDT
Tax audit report and ITR due dates extended for AY 2026-27
For taxpayers whose accounts are audited, the due date for the tax audit report under section 44AB moves to 21 October 2026, and the due date for the income-tax return moves from 31 October to 21 November 2026.
CBDT Circular No. 07/2026 dated 28 September 2026
Official source: CBDT circular (PDF) ↗ - MCA
Advisory on high-return promises by non-compliant Nidhi companies
The Ministry advised the public to check a Nidhi company's status before depositing money, particularly where high returns are promised, as deposits with Nidhi companies are not insured by DICGC.
MCA press release dated 24 September 2026
Official source: PIB press release ↗ - IBBI
Fee for late filing of liquidation forms under Regulation 47B
IBBI has started levying a fee of ₹500 plus GST for each month of delay on forms under Regulation 47B of the IBBI (Liquidation Process) Regulations, 2016 that were due on or before 30 September 2026 and are filed late.
IBBI Circular No. IBBI/LIQ/107/2026 dated 24 September 2026
Official source: IBBI circular (PDF) ↗ - IBBI
IBBI (Liquidation Process) (Fifth Amendment) Regulations, 2026
Regulations 31(3) and 31(4), on modifying the list of stakeholders, have been substituted, with any modification to be intimated to the Adjudicating Authority within 30 days.
IBBI (Liquidation Process) (Fifth Amendment) Regulations, 2026
Official source: IBBI regulations (PDF) ↗
Summaries are general information on the law as it stands on the date shown, not advice on any particular matter. Always read the official notification before acting. Compiled by Salins & Co. from official sources.