Bizsol Update for the month April 2026. From the Desk of Chairman Article on ‘The Corporate Laws Amendment Bill, 2026 – A New Playbook In The Making ’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd Article on ‘Concessional BCD on Supplies from SEZ to DTA – A Strategic Relief with Compliance Conditions’ …
Concessional BCD on Supplies from SEZ to DTA – A Strategic Relief with Compliance Conditions Introduction In pursuance of the Union Budget 2026-27 announcement to address the concerns faced by the manufacturing units in the Special Economic Zones (SEZ) due to ongoing global trade disruptions, the Central Board of Indirect Taxes and Customs (CBIC) introduced …
DGFT DGFT has revised the export policy for wood pellets and briquettes from 6 April 2026, placing both items under the “Restricted” category. Exports are now allowed only with government authorization. Earlier, wood pellets were prohibited and briquettes were freely exportable, but now stricter control has been introduced to ensure better regulation. (Notification No. 04/2026-27-DGFT, …
CUSTOM The Central Board of Indirect Taxes and Customs (CBIC) has notified Panoli in Bharuch (Gujarat) as a new customs area. This allows the location to handle the unloading of imported goods and the loading of export goods. The amendment aims to improve trade infrastructure, enhance logistics efficiency, and promote ease of doing business in …
GST The Goods and Services Tax Network has clarified that taxpayers who make payments at the SCN stage without accepting liability, they can still file appeals. If adjudication orders wrongly show “NIL” demand, the GST portal blocks appeals. Taxpayers should seek a rectification order to reflect the correct demand, after which appeals can be filed …
CUSTOM The Central Board of Indirect Taxes and Customs has updated tariff values for certain imported goods like gold, silver, edible oils, brass scrap, and areca nuts through Notification. However, most values remain unchanged, such as gold at USD 1526 per 10 grams and silver at USD 2427 per kg. These values are used to …
It is generally believed and rightly so, that the shareholders of a joint stock company are the ultimate authority on all matters pertaining to the company in which they are members. It turns out that it is not so, for one particular reason as per the Supreme Court of India. In a recent landmark judgment, …
Amendments to the Companies Act, 2013 – Journey So Far Year Nature of Amendments 2013 Enactment of the Revised Companies Act 2015 First set of Amendments – Minor Corrections 2017 Decriminalisation of Minor Offences, Governance Reforms 2019 NCLT Related Amendments 2020 Covid Era Reforms – Digital Meetings, Ease of Compliance 2026 Now in Proposal Stage …
Introduction A long-standing provision in GST has finally been revisited with the omission of Section 13(8)(b) of the IGST Act through the Finance Act, 2026. This provision had, for years, denied export status to intermediary services by deeming the place of supply to be in India, even where services were rendered to overseas clients. With …
Let’s be honest — anyone who has dealt with Indian Customs knows the sinking feeling of spotting an error in a Bill of Entry after the goods have already been cleared. Maybe it was a wrong HS code. Maybe an exemption notification was applied incorrectly. Maybe royalties weren’t factored into the assessable value. Whatever the …
DGFT: The Government has revised the import policy for jewellery items under CTH 7113 from “Free” to “Restricted” with immediate effect. Import license is now required, even for prior contracts. However, exemptions are allowed for SEZs, EOUs, export schemes, and certain imports under the India-UAE CEPA quota system. (Notification No. 02/2026-27 – DGFT | Dated: …
DGFT The Government has allowed export of essential commodities like eggs, rice, sugar, onions, and sand to Maldives for FY 2026–27 under a trade agreement. These exports are exempt from restrictions, subject to quantity limits and conditions like health certificates and environmental approvals. (Notification No. 01/2026-27-DGFT | Dated: 01.04.2026)
Customs: CBIC has clarified that Bills of Entry for goods cleared from SEZ to DTA under concessional duty will be processed through faceless assessment and routed via RMS. SEZ officers will handle post-assessment clearance. Existing rules remain unchanged, and ICEGATE Helpdesk will address grievances for smooth and efficient processing. (Circular No. 18/2026-Customs dated 01.04.2026)
Customs: The Ministry of Finance has removed AIDC (Agriculture Infrastructure and Development Cess) on import of ammonium nitrate. This means no AIDC will be charged on its import from 2 April 2026 to 30 June 2026, to reduce costs and support related industries. (Notification No. 13/2026–Customs dated 01.04.2026)
Customs: The Ministry of Finance has granted a temporary exemption from Basic Customs Duty (BCD) on the import of 40 specified chemicals, petrochemicals, and polymer products. This exemption is effective from 2 April 2026 to 30 June 2026 to reduce costs and support industry. (Notification No. 12/2026-Customs dated 01.04.2026)
INCOME TAX CBDT has made DIN mandatory for all income-tax communications like notices and orders; exceptions allowed in specific cases with approval, improving transparency, tracking, and accountability in tax administration system. (Circular No. 4/2026-Income Tax, dated 31.03.2026)
CUSTOM Government amended courier import rules effective 1 April 2026 to streamline clearance and improve efficiency. Goods not cleared within 30 days will be detained and disposed after notice, with storage charges borne by authorised courier. Couriers can request re-export or return of uncleared goods after 15 days, subject to conditions. Additionally, the ₹10 lakh …
DGFT: Government has extended Minimum Import Price of ₹67,220 per MT on specified paper board imports till 30 April 2026 to regulate imports and protect domestic industry. (Notification No. 69/2025-26 dated 31.03.2026)
DGFT: Government has extended free import of Yellow Peas till 31 March 2027, without minimum price or port restrictions, but importers must complete mandatory registration under the import monitoring system. (Notification No. 70/2025-26 dated 31.03.2026)
DGFT: Government has extended free import of Urad till 31 March 2027, allowing importers to import without any restriction or license requirement for one more year, which earlier permitted free imports only up to 31 March 2026. (Notification No. 71/2025-26 dated 31.03.2026)
