Daily Newsletter - July 8, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IBBI Draft

IFSCA Draft

Useful Forms:

ITR eFiling Utilities for AY 2026-27

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Series - New Article

Legal Updates:

GST

MCA

SEBI

IRDAI

Customs

News Update:

Indian News:

NFRA raises bar for audit sign-offs, says uncorrected errors can distort financial statements

Big 4 scores a win as ICAI pauses 'global networking norms'

ICAI may pause global network guidelines to address stakeholder concerns

Three top executives resign from Axis Bank as lender rejigs leadership

SEBI Restores Exchange-Based Open Market Share Buybacks from Aug 1

Sebi notifies changes to FPI regulations, mandates fee payment in INR

RBI reiterates call for crypto curbs; tax department warns of evasion risks

CBI chargesheets 7 in RCFL bank fraud case

External agency can't record findings against lawyer: SC

Missed your term insurance premium? Here's what happens to your policy, claim, and life cover

CBDT clarification: Nil or lower TDS certificate and existing tax benefits under Income Tax Act, 2025

NFRA begins probe into Rajesh Exports revenue misstatement case

Kolhapur CGST arrests alleged mastermind of Rs 10.6 crore fake ITC racket

SEBI said to ease short stocks by nearly doubling those eligible for borrowing

International News:

[PCAOB] New auditor ethics rule will reshape malpractice litigation

Exposure Drafts:

IBBI Draft:

Discussion Paper - Strengthening the Regulatory Framework - Amendments to CIRP Regulations, Liquidation Regulations and PG to CD Regulations
[Last date for Comments: July 22, 2026] 

IFSCA Draft:

Revised Draft IFSCA (Setting up and Operation of International Branch Campuses) Regulations, 2026
[Last date for Comments: July 10, 2026] 

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Released on July 7, 2026
ITR 5 - Excel Utility & Schema

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Series - New Article:

Tech-Zone Series: Excel ITR Filing Mastery: Practical Hacks Every CA Needs This Season

Part 3A: Smart Final Verification with Microsoft Copilot

Legal Updates:

GST:

Notification extending GSTAT due date for filing appeals to Appellate Tribunal to July 31, 2026

MCA:

Extension of Companies Compliance Facilitation Scheme, 2026 (CCFS2026) up to 31st August 2026 [Circular No.3]

SEBI:

Review of norms for utilization of interest or income from IPF of the Depositories

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2026

SEBI (Custodian) (Amendment) Regulations, 2026

SEBI (Mutual Funds) (Amendment) Regulations, 2026

SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) (Amendment) Regulations, 2026

SEBI (Buy-Back of Securities) (Amendment) Regulations, 2026

IRDAI:

Extension of Transitional Arrangements for Payment of Annual Fee and Issuance of Certificate of Registration

Customs:

Notification to give effect to provisions relating to temporary admission of animals under the India-UK CETA [Notification No.24]

Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic and Trade Agreement between India and the United Kingdom of Great Britain & Northern Ireland) Rules, 2026 [Notification No.62(NT)]

Extends levy of anti dumping duty on "Seamless Tubes, Pipes and Hollow Profiles of Iron, Alloy or Non-Alloy Steel" originating in or exported from China PR, up to and inclusive of 27th January, 2027 [Notification No.16(ADD)]