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“Important Regulatory Updates for Businesses – GST, RBI, MSME & Export Schemes”

1.Year-End GST Compliance

Businesses should complete these before financial year closing:

  • LUT renewal for exporters
  • Composition scheme option for FY 2026-27
  • GST reconciliation and ITC matching

These are mandatory to avoid carry-forward issues in April returns.

2. RBI Deposit Insurance Update

  • From 1 April 2026, the Reserve Bank of India (RBI) has made it mandatory for banks to disclose the deposit insurance premium paid in their annual reports.
  • A risk-based premium system has been introduced, where banks will be graded A to D based on financial strength, and riskier banks will pay higher premiums to the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • The deposit insurance cover remains ₹5 lakh per depositor per bank, and the rule applies to all commercial, cooperative, and regional rural banks.

3.Modified MCGS Scheme for MSMEs –

  • The Government of India has revised the Mutual Credit Guarantee Scheme (MCGS) to improve credit access and support manufacturing as well as service-sector MSMEs in line with Budget 2025-26 goals.
  • Under the updated scheme, eligibility has been expanded to service sector MSMEs, the minimum investment requirement in plant and machinery has been reduced from 75% to 60% of project cost, and loans up to ₹100 crore will receive up to 60% guarantee cover from National Credit Guarantee Trustee Company Limited.
  • The scheme now provides a 10-year guarantee tenure and special incentives for exporter MSMEs, including higher guarantee coverage and lower guarantee fees to promote global competitiveness and boost exports.

4. RoDTEP Restoration –

  • The Directorate General of Foreign Trade (DGFT), through Notification No. 66/2025-26 dated 23 March 2026, has restored full RoDTEP rates and value caps, removing the earlier 50% restriction imposed in February 2026.
  • The restoration is effective from 23 February 2026 to 31 March 2026, allowing exporters to again claim full reimbursement of embedded, non-creditable taxes such as fuel VAT, electricity duty, and logistics taxes under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.
  • The decision was taken to support exporters affected by high freight costs and West Asia maritime disruptions, improving liquidity and competitiveness for sectors like textiles, engineering goods, and pharmaceuticals after strong representation from industry bodies like Federation of Indian Export Organisations (FIEO).

5. PLI Scheme for Textiles – Deadline Extended

  • The Government of India has extended the application deadline for the Production Linked Incentive Scheme for Textiles (PLI) to 31 March 2026 to encourage more industry participation.
  • The scheme focuses on boosting investment in man-made fibre (MMF) apparel, MMF fabrics, and technical textiles, supporting expansion of domestic manufacturing capacity.
  • The extension follows strong industry response and aims to build on commitments already made by 70+ companies, strengthening India’s competitiveness in global textile exports.

6. Compliance Calendar for upcoming month-

DateLawComplianceApplicable To
31 Mar 2026Income TaxLast date for tax-saving investments and financial year closing entriesIndividuals & Businesses
31 Mar 2026Income TaxFiling of Form 67 (Foreign Tax Credit)Taxpayers claiming FTC
31 Mar 2026Income TaxFiling of ITR-U for AY 2021-22Eligible taxpayers
31 Mar 2026GSTGSTR-11 filing for Feb 2026UIN holders
07 Apr 2026TDS/TCSDeposit of TDS/TCS for March 2026Deductors & Collectors
11 Apr 2026GSTGSTR-1 (Monthly) for March 2026Regular taxpayers
13 Apr 2026GSTGSTR-1 (QRMP) for Jan–Mar 2026 quarterQRMP taxpayers
20 Apr 2026GSTGSTR-3B filing & tax payment for March 2026All regular taxpayers
30 Apr 2026MCA / MSMEFiling of MSME-1 (Oct 2025 – Mar 2026)Companies with MSME dues
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