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Latest Tax, GST, ICAI & Regulatory News and Updates

CA Samaaj brings together current tax, accounting and regulatory developments that matter to chartered accountants, finance teams, businesses and taxpayers. Follow changes in Income Tax and GST, ICAI announcements for students and members, RBI banking and payments updates, and SEBI market regulations from one organised news hub. Each story links to its full report, while the topic hubs below make it easier to follow a particular authority or compliance area. Publication dates shown on stories come from the existing News record, so readers can distinguish recent developments from older coverage without artificial freshness signals.

Latest News & Updates

AY 2026-27 Returns Stay Under 1961 Act Despite Tax Law Transition

AY 2026-27 Returns Stay Under 1961 Act Despite Tax Law Transition

11th Aug 2026

Returns for income earned in FY 2025-26 will remain governed by the Income-tax Act, 1961, even though they are filed after the new law takes effect. The Income Tax Department has clarified the treatment of belated, revised and updated returns during the transition.

Income Tax

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Outward RCM Supplies Must Not Be Classified as Exempt in GSTR-3B

Outward RCM Supplies Must Not Be Classified as Exempt in GSTR-3B

11th Aug 2026

Supplies on which the recipient pays GST under reverse charge remain taxable supplies and should not be reported as exempt in Form GSTR-3B. Suppliers must disclose the invoices in Form GSTR-1 with the reverse-charge indication, preserving the distinction between taxability and responsibility for paying tax.

GST

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SEBI’s Reported GARUDA Route Seeks Faster Processing of AIF Placement Memoranda

SEBI’s Reported GARUDA Route Seeks Faster Processing of AIF Placement Memoranda

11th Aug 2026

SEBI's GARUDA circular of 30 July 2026 lets AI only funds and LVFs launch on filing, regular AIF schemes after 10 working days, with merchant bankers and managers liable for PPM disclosures.

SEBI

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ICAI FAQs clarify GSTR-3B ITC reporting for import-service RCM

ICAI FAQs clarify GSTR-3B ITC reporting for import-service RCM

11th Aug 2026

FAQs attributed to ICAI clarify how eligible input tax credit on import-service reverse charge should be treated when it is reported in Table 4(A)(3) of GSTR-3B. The clarification distinguishes a return-classification error from the underlying eligibility of the credit.

GST

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Section 6(2)(b) Shields Taxpayers From Parallel GST Adjudication

Section 6(2)(b) Shields Taxpayers From Parallel GST Adjudication

11th Aug 2026

Section 6(2)(b) addresses parallel GST proceedings where central and State authorities pursue the same matter. A defensible objection requires a transaction-level comparison of the liabilities and a clear Electronic Liability Register trail.

GST

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Section 148 Notices and the ‘Surviving Period’: What Rajeev Bansal Means for Reassessment

Panaji ITAT Quashes ₹17.95 Crore Reassessment as Section 148 Notice Time-Barred

9th Aug 2026

The Panaji ITAT has reportedly quashed a ₹17.95 crore reassessment after holding that the Section 148 notice was issued beyond the surviving limitation period. The ruling applies the Supreme Court’s framework in Ashish Agarwal and Rajeev Bansal for reassessment notices caught in the transition to the substituted reassessment regime.

Income Tax

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