Insights · Updates
Regulatory updates
Changes to the law and to due dates, set out with their status, the official source, and what to check in your records. Last reviewed on 3 October 2026.
How to read this page
Each item carries a status: In force means the change applies now, Due date extended records a change to a date, Pending and Draft mean the change is not yet law, and Reminder repeats a limit that is easy to miss. Items are listed newest first. Where a source is a copy of an official document, the official site should be checked as well.
Time limit for first-time input tax credit on FY 2025-26 invoices
Under section 16(4) of the CGST Act, credit on an invoice for FY 2025-26 can be taken for the first time up to the earlier of 30 November 2026 and the date the annual return for FY 2025-26 is filed. Credit that was reversed earlier and is being reclaimed after payment is treated differently under the rules.
What to do. List the invoices of FY 2025-26 whose credit has not yet been taken, and settle them against GSTR-2B before filing the annual return.
Source: CBIC GST — Acts and rules · GST portal
Tax audit report and return dates for AY 2026-27 extended (CBDT Circular No. 07/2026)
For assessment year 2026-27 (income of FY 2025-26), the Central Board of Direct Taxes has extended the due date for the return of income from 31 October 2026 to 21 November 2026 for persons referred to in serial number 2 of the table below Explanation 2 to section 139(1) of the Income-tax Act, 1961. As a consequence, the specified date for the audit report has moved from 30 September 2026 to 21 October 2026.
What to do. Check that the return falls in the category the Circular names before relying on the later dates. The press release says a formal order is being issued separately, so confirm that on the Income Tax Department website too.
Source: CBDT Circular No. 07/2026 · CBDT press release, 28 September 2026
57th GST Council meeting rescheduled to 7 October 2026
The GST Council Secretariat has moved the 57th meeting from 12 September to 7 October 2026, with the Officers’ meeting on 5 and 6 October. The agenda had not been published at the time of writing. Proposals reported in the press, such as changes to registration, input tax credit, and refunds, are not decisions of the Council.
What to do. Do not act on reported proposals. A recommendation takes effect only when the CBIC issues a notification or circular, so check the CBIC site after the meeting.
Source: GST Council · CBIC GST
Corporate Laws (Amendment) Bill, 2026: Joint Parliamentary Committee report presented
The Bill was introduced in the Lok Sabha on 23 March 2026 and referred to a Joint Parliamentary Committee, which presented its report on 3 August 2026. Reports say the Government is preparing a revised Bill for the Winter Session. It includes provisions on the powers and functioning of the National Financial Reporting Authority. Nothing in it is law until Parliament passes it and it is notified.
What to do. No change to current compliance. Watch for the revised Bill and the notified text before drawing conclusions.
Source: Ministry of Corporate Affairs · Economic Times CFO report
Draft Companies (Incorporation) Amendment Rules, 2026 and a review of the filing framework
The Ministry of Corporate Affairs published a draft of the Companies (Incorporation) Amendment Rules, 2026 for comment (public notice of 8 April 2026, comments until 9 May 2026), and opened a consultation on rationalising filings under the Companies Act, 2013 across a company’s life (comments until 15 May 2026). The sources reviewed show a draft, not a notified rule.
What to do. Continue to follow the rules as in force. Check mca.gov.in for any final notification before changing a filing practice.
Source: PIB press release, 17 April 2026 · Ministry of Corporate Affairs
Form No. 26 replaces Forms 3CA/3CB/3CD from tax year 2026-27
Tax audit is now section 63 of the Income-tax Act, 2025, read with Rule 47 of the Income-tax Rules, 2026. The report is furnished in Form No. 26 for tax years beginning on or after 1 April 2026, one month before the due date of the return under section 263(1). Forms 3CA/3CB/3CD continue for assessment year 2026-27 and earlier.
What to do. Map the tax audit working papers to the clauses and schedules of Form 26 early in the year, including the TDS and TCS reporting and the details of the accounting software and backup server.
Income-tax Act, 2025 applies from 1 April 2026
The Income-tax Act, 2025 replaces the Income-tax Act, 1961 for tax years beginning on or after 1 April 2026, and uses the term “tax year”. Income of FY 2025-26 is still assessed for assessment year 2026-27 under the 1961 Act, and proceedings for earlier years continue under that Act. The e-filing portal supports both Acts in the transition.
What to do. Keep the books, challans, and TDS reconciliations for FY 2025-26 and FY 2026-27 separate, and cite the Act that governs the year in every working and reply.
Please note
This page is general information published by the firm. It is not advice on any particular matter, it is not an invitation to appoint the firm, and it may be out of date by the time it is read. Dates, thresholds, and forms are changed by notification during the year, so confirm them on the official site before acting. See the disclaimer. Longer explanations are in the notes, and working checklists are in the resource library.