1. Corporate Guarantee GST rules may be simplified
- Corporate Guarantee is a Taxable Supply: A corporate guarantee provided between related parties, such as a holding company for its subsidiary, is treated as a taxable supply of service, even when no fee is charged. GST is generally applicable at 18%.
- 1% Deemed Valuation Rule: Where no fee or nominal fee is charged, the value is generally deemed to be 1% of the guarantee amount per year under Rule 28(2) of the CGST Rules.
- Relief Where 100% ITC is Available: If the recipient/borrower is eligible for full Input Tax Credit (ITC), the mandatory 1% deemed valuation does not apply, and the value declared in the invoice is accepted.
2. Green Power Plan for MSME Manufacturing Clusters:
- Demand Aggregation: SECI plans to combine electricity and industrial-heating requirements of multiple MSMEs to achieve economies of scale and reduce power costs.
- Shift from Fossil Fuels: The initiative aims to help MSMEs move from gas-fired and other fossil-fuel-based furnaces towards electric and cleaner heating solutions.
- Lower Upfront Investment: Pooled procurement can help MSMEs overcome the high initial cost of adopting green electricity and electric-furnace technologies.
- Energy Security & Export Competitiveness: Affordable green power can reduce dependence on fossil fuels and help MSMEs meet international carbon requirements such as the EU’s CBAM.
- Green Transition: The initiative supports India’s broader MSME green-transition roadmap, with solar power and electric heating becoming increasingly competitive with conventional fossil-fuel options
3. FADS (Foreign Asset Disclosure Scheme) 2026 enabled on Income Tax Portal:
- One-Time Disclosure Opportunity: FADS 2026 allows eligible taxpayers to voluntarily disclose previously unreported foreign assets and income.
- Filing Period: The scheme came into effect on 16 August 2026, and declarations can be filed up to 31 December 2026.
- Valuation Date: Foreign assets covered under the scheme are required to be valued with reference to 31 March 2026.
- Online Filing: Taxpayers can file Form 1 through the Income Tax e-Filing Portal: e-File → Income Tax Forms → File Income Tax Forms → Under Other Acts → FADS 2026
4. Co-operative banks / penalties – RBI continues publishing enforcement actions and monetary penalties
- RBI Enforcement: RBI is increasing supervisory action against cooperative banks for banking-law violations, regulatory lapses and inadequate risk management.
- Recent Penalties: Surat People’s Cooperative Bank – ₹13.30 lakh, Citizens Urban Cooperative Bank – ₹5 lakh, and Nabapalli Cooperative Bank – ₹3 lakh were penalised for various compliance failures.
- Loan Compliance: Penalties can arise from exceeding lending limits or granting loans to directors, relatives or other restricted parties.
- KYC & Cybersecurity: Banks can face action for delayed KYC updates, Central KYC Registry lapses and inadequate cybersecurity controls.
- Unclaimed Deposits: Failure to properly transfer eligible unclaimed deposits to the Depositor Education and Awareness Fund (DEAF) can also result in regulatory penalties.
5. Compliance Due Dates
| Due Date | Compliance | Applicable To |
| 15 Sep 2026 | PF & ESI payment – Aug 2026 | Employers |
| 20 Sep 2026 | GSTR-3B – Aug 2026 | Monthly GST taxpayers |
| 30 Sep 2026 | Tax Audit Report – FY 2025-26 | Tax-audit applicable taxpayers |
| 30 Sep 2026 | DIR-3 KYC | Directors/DIN holders |
| 30 Sep 2026 | AGM – FY 2025-26 | Companies, subject to applicable provisions |
| 30 Sep 2026 | FADS 2026 declaration | Eligible taxpayers – subject to scheme conditions |