I need a circuit for generating AC current.
The maximum current is 40mA.
Accuracy is of utmost importance.
I will be using this to simulate energy meter.
I would also like to know about any similar products available in the market.
I think his "AC current" is electrical mains current.
I think his "energy meter" is really a mains power meter.
Isn't your electrical mains at 240VAC over there?
Then your power amplifier must have an output of 7200W RMS into 8 ohms. That's a lot more than just 40mA.
Wouldn't a little 10W 1:1 mains isolation transformer do the trick?