Indian regulatory and judicial updates impact tax and trade sectors

The week ending September 6, 2026, saw significant regulatory and judicial developments across several Indian financial and trade sectors, including Income Tax, GST, SEBI, RBI, and the Directorate General of Foreign Trade (DGFT).

In judicial rulings, the Delhi High Court held that employees should not be denied TDS credit due to an employer's failure to deposit taxes, citing a case involving Kingfisher Airlines. Additionally, the Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruled that for quarterly CENVAT refund claims, the limitation period begins at the end of the quarter in which the Foreign Inward Remittance Certificate (FIRC) is received.

Regulatory updates included the DGFT extending the SION E-52 conversion deadline and introducing new allocation procedures for Raw Sugar. SEBI proposed net settlement for specific mutual fund transactions, while the Ministry of Corporate Affairs extended the CCFS-2026 deadline to September 15, 2026. The RBI also amended reporting and investment portfolio requirements.