News and Updates

Stay informed about the latest news and trends from the accounting and finance industry, and stay ahead of the competition.

Swap-Facility Forex Inflows Reach $136.38 Billion by August 31; FCNR(B) Accounts for $127.23 Billion

RBI Swap-Facility Forex Inflows Reach $136.38 Billion by August 31; FCNR(B) Accounts for $127.23 Billion

2nd Sep 2026

RBI says provisional inflows under its special USD-INR swap facility reached US$136.377 billion by August 31, led by US$127.226 billion of FCNR(B) deposits; ECB and OFCB windows remain open through December 31.

RBI

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Government Resets Fuel Export Levies from September 1; Petrol SAED ₹1.5/Litre, ATF ₹19, Diesel RIC ₹1

Government Resets Fuel Export Levies from September 1; Petrol SAED ₹1.5/Litre, ATF ₹19, Diesel RIC ₹1

2nd Sep 2026

Three September 1 Central Excise notifications reset petroleum-export levies: petrol SAED at ₹1.50/litre, ATF SAED at ₹19/litre and diesel RIC at ₹1/litre.

Others

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Moves SCMTR Table Date to October 31 Under Third Amendment Regulations, 2026

CBIC Moves SCMTR Table Date to October 31 Under Third Amendment Regulations, 2026

2nd Sep 2026

Notification 73/2026-Customs (N.T.) substitutes October 31, 2026 for the date against Sr. No. 6 in column 3 of the table after FORM-XII under SCMTR.

Others

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ICSI Opens 3-Day Escalation Route for Unresolved MCA21 V3 Tickets; Fast-Track Email and Helplines Available

ICSI Opens 3-Day Escalation Route for Unresolved MCA21 V3 Tickets; Fast-Track Email and Helplines Available

2nd Sep 2026

ICSI’s September notice asks professionals to escalate MCA21 V3 tickets unresolved for more than three days and reissues dedicated email and helpline support.

ICSI

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Starts January 2027 CA Foundation Live Virtual Classes from September 16; Paper-Wise Schedule Released

ICAI Starts January 2027 CA Foundation Live Virtual Classes from September 16; Paper-Wise Schedule Released

2nd Sep 2026

ICAI’s Board of Studies has announced Live Virtual Classes for January 2027 CA Foundation candidates from September 16, with a paper-wise timetable for Accounting, Business Laws, Business Economics and Quantitative Aptitude.

ICAI

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August GST Revenue Hits ₹1.998 Lakh Crore; Gross Collections Rise 14.8% as Refunds Jump 67.9%

August GST Revenue Hits ₹1.998 Lakh Crore; Gross Collections Rise 14.8% as Refunds Jump 67.9%

2nd Sep 2026

GSTN's provisional August 2026 report shows gross GST revenue at ₹1,99,853 crore, up 14.8% year on year, while net revenue grew 8.3% after a 67.9% rise in refunds.

GST

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IFSCA Leasing Framework Consultation Closes Today; Draft Merges Aircraft and Ship Leasing, Adds Oilfield Equipment

IFSCA Leasing Framework Consultation Closes Today; Draft Merges Aircraft and Ship Leasing, Adds Oilfield Equipment

2nd Sep 2026

IFSCA's September 2 consultation deadline is closing for a draft framework that would consolidate aircraft and ship leasing rules, enable oilfield equipment leasing and address SPV structures in GIFT IFSC.

Others

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Updates September 12 Convocation Venues Across 23 Cities; New Members and May 2026 CA Final Rank Holders Covered

ICAI Updates September 12 Convocation Venues Across 23 Cities; New Members and May 2026 CA Final Rank Holders Covered

2nd Sep 2026

ICAI has updated venue and contact details for its September 12 convocation across 23 cities. Members enrolled from May 1 to August 15, 2026 and May 2026 CA Final rank holders are covered.

ICAI

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ICSI Extends Student Amnesty Scheme Again to October 31; ₹5,000 and ₹1,000 Routes Continue for Eligible CS Students

ICSI Extends Student Amnesty Scheme Again to October 31; ₹5,000 and ₹1,000 Routes Continue for Eligible CS Students

2nd Sep 2026

ICSI's live amnesty page now extends the Student Amnesty Scheme opportunity to October 31, 2026, replacing the earlier August 31 cutoff while retaining separate Category 1 and Category 2 routes.

ICSI

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Income Tax Portal Opens Form 1 for Foreign Asset Disclosure Scheme; December 31 Filing Cut-Off Applies

Income Tax Portal Opens Form 1 for Foreign Asset Disclosure Scheme; December 31 Filing Cut-Off Applies

2nd Sep 2026

The Income Tax Department has enabled Form 1 for the Foreign Assets of Small Taxpayers Disclosure Scheme on the e-Filing portal, turning the August rules into an active compliance window that closes December 31, 2026.

Income Tax

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