BCAS President CA Kinjal Shah’s Message for the Month of November 2026
As Dhanteras and Diwali approach, we prepare for Chopda Pujan, closing the year’s books and opening a new ledger with hope and renewed purpose. I’ll do something similar here: what has changed in the law that affects your clients, what members told us in the survey, and what BCAS has been doing.
REGULATORY AND ECONOMIC DEVELOPMENTS
On 7 October, the RBI raised the repo rate by 25 basis points to 5.50%, signalling calibrated tightening amid inflation risks and elevated crude prices. Higher EMIs and borrowing costs will particularly burden MSMEs. Clients should tighten working capital cycles, review debt structures and prepare for sustained higher rates.
The 57th GST Council prioritised procedural reforms, dispute rationalisation and ease of doing business over rate changes. Recommendations include abolishing arrest powers under Section 69, a ₹5 crore prosecution threshold, a minimum demand threshold for Show Cause Notices, capped penalties and appeal pre-deposits, automated registration approvals, fewer e-way bill inspections and an optional annual return quarterly payment scheme (ARQP). Until notified, these remain recommendations; CAs must advise accordingly.
For international trade clients, the new Export-Import and FEMA framework, effective 1 October, brings a single Export Declaration Form for goods, services and software, realisation periods of 9 months (12 months for INR invoices), removal of the USD 200,000 cap on import advance guarantees and set-off between export receivables and import payables. BCAS’s webinar on these guidelines drew an overwhelming member response.
In capital markets, SEBI’s 215th Board meeting on 24 September approved the Portfolio Managers Regulations, 2026, a settlement framework with a 60-day window before a show-cause notice, and higher eligibility thresholds for accredited investors. These reforms could reshape market participation and compliance.
WHAT MEMBERS TOLD US
An institution’s legacy gives it strength, but its ability to listen and evolve keeps it relevant.
The BCAS Membership Survey 2026, with 377 responses, offers valuable insights. Members rated the BCA Journal and publications 4.37/5, likelihood of recommending BCAS membership 4.35/5, quality of speakers and learning content 4.26/5, and BCAS’s contribution to professional growth 4.21/5. These scores reflect the trust members place in BCAS and its knowledge initiatives.
The feedback also highlights opportunities to improve. Ratings for our website and digital platforms stood at 3.84/5, and online access to content and recordings at 3.86/5.
Members have expressed strong interest in learning about AI, taxation, GST, cybercrime and regulatory developments, alongside interest in event recordings, flexible learning formats and volunteering opportunities.
Since BCAS already offers hybrid events, webinars, recordings on YouTube and resources through “BCAS aCAdemy”, we must communicate these facilities more effectively and make them easier to access.
Listening builds understanding; acting on what we hear builds trust.
YUVA SHAKTI
A nation’s greatest wealth is its youth. Through BCAS, we must nurture the next generation of Chartered Accountants through learning, leadership and participation. A structured youth platform means giving young professionals a voice in shaping our profession’s future. This calls for a clear action plan:
Connect: Create a dedicated network for young CAs to interact, exchange ideas and build professional relationships.
Curate: Organise focused programmes on emerging technologies, practical challenges, entrepreneurship, leadership and career transitions.
Contribute: Involve young members in BCAS committees, research, publications, events and advocacy initiatives.
Mentor: Facilitate meaningful interactions between experienced professionals and young CAs to encourage knowledge-sharing and professional growth.
Lead: Provide young members with opportunities to take ownership of initiatives and gradually assume leadership responsibilities within BCAS.
Keeping this in mind, we are organising a Leadership Camp on 21–22 November 2026 and reviving the off-site Youth RRC on 29–31 January 2027. Many office-bearers, Managing Committee members and Past Presidents began at these RRCs, which built BCAS’s leadership pipeline.
This initiative is an investment in the next generation of BCAS leaders.
MEETINGS AND EVENTS
I met the Hon. Governor of Maharashtra, Shri Jishnu Dev Varma, with CA Mihir Sheth and CA Chirag Doshi, proposing a program with Mumbai University on practical aspects of accounting, taxation, finance and MSME training. A Joint Committee will lead a pilot through the Governor’s ADC. The Governor welcomed extending it to Tripura, his home town and the North-East.
On 5 October, at UAE–Maharashtra: Building the Future Economy, I met the UAE Consul General with CA Naushad Panjwani and CA Anand Bathiya to explore collaboration.
BCAS partnered with Outlook Money’s, The Money Question forum on 23 September, covering equity, fixed income, gold, REITs and diversification, drawing over 500 participants, including 49 BCAS members,.
On 15 October, our webinar with the Directorate General of Taxpayer Services, Mumbai Zonal Unit, examined the 57th GST Council recommendations, with Shri Sumit Kumar, Principal Addl. Director General delivering a keynote and CA Vivek Laddha’s technical session. This collaboration demonstrates the value of cooperation between professional bodies, tax administrators and taxpayers.
These initiatives are part of a larger responsibility to make professional knowledge useful to the society.
BCAS “RAAS RATRI 2026” WHERE CULTURE MEETS COMMUNITY
Raas Ratri 2026 reaffirmed my belief that a professional institution must build relationships and belonging beyond the workplace and professional roles. BCAS Raas Ratri, our first ever Garba competition with live music ahead of Navratri, drew over 750 participants and showed BCAS is not just a platform for professional excellence but a community that celebrates culture, strengthens bonds and unites people in shared purpose. The BCAS Foundation supported three NGOs with stalls to showcase their products. My heartfelt thanks to the BCAS Foundation, sponsors and volunteers.
A DIWALI GIFT FOR OUR MEMBERS!
This Diwali, BCAS has something special for its members! Our new partnership with IndiGo brings exclusive corporate travel benefits, including zero convenience fees on bookings, special corporate fares, up to 30% off on excess baggage and meals, attractive cancellation and change charges, and special offers on hotels and cabs. Members can refer to the registration instructions shared by the BCAS office via email to access these benefits.
Because being part of BCAS should bring value beyond professional learning, even when you travel!
LIGHT, VALUES & INTEGRITY
As we celebrate Diwali, let us draw inspiration from the timeless values of integrity, wisdom and righteous conduct. Guru Nanak Dev Ji’s teaching of Kirat Karni, earning an honest livelihood, captures the very essence of our professional responsibility. Diwali celebrates Shri Ram’s return to Ayodhya, while for Jains, it marks the Nirvana of Lord Mahavira and Gautam Swami’s attainment of Keval Gyan.
May these enduring ideals illuminate our professional choices, strengthen our commitment to ethical practice and guide BCAS towards a brighter future.
Wishing you and your families good health, happiness, prosperity and professional fulfilment in the year ahead.
Shubh Deepavali!
