Team Bizsol

DGFT: A simplified procedure is being introduced for expedited issuance of import authorisations, based on self-declaration and trust, for import of silver items falling under the ITC(HS) 71069110, 71069120, 71069221 and 71069229 excluding silver dore. (14.10.2026)

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DGFT: A simplified procedure is being introduced for expedited issuance of import authorisations, based on self-declaration and trust, for import of silver items falling under the ITC(HS) 71069110, 71069120, 71069221 and 71069229 excluding silver dore. [Trade Notice No. 30/2026-27 dated 13.10.2026]

Judicial Corner: Vardhman Yarns and Threads Limited v. Commissioner of Commercial Taxes & Ors. {GSTAT, Appeal No. APL/221/BUR/2026, Order dated 30.09.2026} (12.10.2026)

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Vardhman Yarns and Threads Limited v. Commissioner of Commercial Taxes & Ors. {GSTAT, Appeal No. APL/221/BUR/2026, Order dated 30.09.2026} Facts:  Appellant transferred sewing threads from its unit in Perundurai, Tamil Nadu, to its Bengaluru branch under valid tax invoices and a generated Part-A of the e-way bill. However, Part-B containing the vehicle number was not …

Judicial Corner: Vardhman Yarns and Threads Limited v. Commissioner of Commercial Taxes & Ors. {GSTAT, Appeal No. APL/221/BUR/2026, Order dated 30.09.2026} (12.10.2026) Read More »

Income Tax: The CBDT has replaced Form No. 161 with a new form for seeking a waiver of penalty under section 440(2) of the Income-tax Act, 2025, as substituted by the Finance Act, 2026. The waiver requires payment of tax, interest and additional income-tax of 100% or 120% of the tax on under-reported income from misreporting within the demand notice due date, with no appeal filed.(12.10.2026)

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Income Tax: The CBDT has replaced Form No. 161 with a new form for seeking a waiver of penalty under section 440(2) of the Income-tax Act, 2025, as substituted by the Finance Act, 2026. The waiver requires payment of tax, interest and additional income-tax of 100% or 120% of the tax on under-reported income from …

Income Tax: The CBDT has replaced Form No. 161 with a new form for seeking a waiver of penalty under section 440(2) of the Income-tax Act, 2025, as substituted by the Finance Act, 2026. The waiver requires payment of tax, interest and additional income-tax of 100% or 120% of the tax on under-reported income from misreporting within the demand notice due date, with no appeal filed.(12.10.2026) Read More »

GST: The GSTN press release highlights the 57th GST Council reforms from October 8, 2026, focusing on simplifying compliance, streamlining registrations and return filing, speeding up refunds, and improving Input Tax Credit (ITC) flow.(12.10.2026)

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GST: The GSTN press release highlights the 57th GST Council reforms from October 8, 2026, focusing on simplifying compliance, streamlining registrations and return filing, speeding up refunds, and improving Input Tax Credit (ITC) flow. [GSTN Advisory 09.10.2026]

Customs:Importing chemicals or insecticides for industrial or other non-farming uses now legally requires a special permit under Insecticide Third Amendment Rule, 2016 issued by the Department of Agriculture & Farmers Welfare.(09.10.2026)

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Customs: Importing chemicals or insecticides for industrial or other non-farming uses now legally requires a special permit under Insecticide Third Amendment Rule, 2016 issued by the Department of Agriculture & Farmers Welfare. [Instruction No. 18/2026- Customs dated 01.10.2026]

Customs:Under the FEMA Regulations effective October 1, 2026, Customs Commissioners must ensure that authenticated Export Declaration Forms (EDFs) at non-EDI ports are forwarded to Authorised Dealers, preferably via official email. (09.10.2026)

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Customs: Under the FEMA Regulations effective October 1, 2026, Customs Commissioners must ensure that authenticated Export Declaration Forms (EDFs) at non-EDI ports are forwarded to Authorised Dealers, preferably via official email. [Instruction No. 19/2026- Customs dated 05.10.2026]

Customs:Dabhol Port has been authorised for unloading machinery and equipment, LNG and naphtha, and loading imported machinery for export for the Ratnagiri Gas and Power Private Limited Power Project, along with shipbuilding, ship repair, and import/export of vessels and rigs by Square Port Shipyard Private Limited. (09.10.2026)

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Customs: Dabhol Port has been authorised for unloading machinery and equipment, LNG and naphtha, and loading imported machinery for export for the Ratnagiri Gas and Power Private Limited Power Project, along with shipbuilding, ship repair, and import/export of vessels and rigs by Square Port Shipyard Private Limited. [Notification No. 81/2026 – Customs (N.T.) dated 07.10.2026]

Judicial Corner: Tax Classification Based on Form of Goods at the Time of Sale{ Additional Commissioner, Commercial Tax & Ors. v. Cadila Health Care Ltd. & Anr. Civil Appeal Nos. 9788–9789 of 2013 decided on October 5, 2026} (07.10.2026)

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Tax Classification Based on Form of Goods at the Time of Sale{ Additional Commissioner, Commercial Tax & Ors. v. Cadila Health Care Ltd. & Anr. Civil Appeal Nos. 9788–9789 of 2013 decided on October 5, 2026} Facts: Cadila sold GRD Powder and GRD Mix in powder/biscuit form, with instructions to mix them with milk or …

Judicial Corner: Tax Classification Based on Form of Goods at the Time of Sale{ Additional Commissioner, Commercial Tax & Ors. v. Cadila Health Care Ltd. & Anr. Civil Appeal Nos. 9788–9789 of 2013 decided on October 5, 2026} (07.10.2026) Read More »

Judicial Corner : Mechanical ITC Reversal for Supplier Default  Section 16(2)(c) {Shaurya Alloys Pvt. Ltd. & Ors. v. State of Punjab & Another & connected matters CWP-34296-2024 (O&M) 2026 LLBiz HC(P&H) 58} (03.10.2026)

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Mechanical ITC Reversal for Supplier Default  Section 16(2)(c) {Shaurya Alloys Pvt. Ltd. & Ors. v. State of Punjab & Another & connected matters CWP-34296-2024 (O&M) 2026 LLBiz HC(P&H) 58} Facts: A batch of 424 writ petitions was filed by purchasing dealers whose ITC was denied/reversed because their suppliers had failed to deposit GST, filed nil/short …

Judicial Corner : Mechanical ITC Reversal for Supplier Default  Section 16(2)(c) {Shaurya Alloys Pvt. Ltd. & Ors. v. State of Punjab & Another & connected matters CWP-34296-2024 (O&M) 2026 LLBiz HC(P&H) 58} (03.10.2026) Read More »

Article on ‘ THE POWER DISTANCE INDEX – CULTTURAL ACCEPTANCE OF AUTHORITY AND ORGANISATIONAL BAHAVIOUR’, by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( October 2026)

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Introduction: Hierarchy is not merely an organisational arrangement in India. It is more often a social language in India’s corporate scene. We know how hierarchy influences organisational performance in India’s corporate governance.  It influences how people address one another, how decisions travel through an institution, who speaks in meetings, how disagreements are expressed and above …

Article on ‘ THE POWER DISTANCE INDEX – CULTTURAL ACCEPTANCE OF AUTHORITY AND ORGANISATIONAL BAHAVIOUR’, by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( October 2026) Read More »

Note on ‘FEMA Export & Import of Goods & Services Regulations 2026 effective from 1st Oct 2026’, CS Anita Patil, Sr. Advisior, Bizsolindia Services Pvt Ltd. (October 2026)

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Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 including amendments thereof effective from 1st Oct 2026: Time period for realization of exports: Particulars FEMA Realization Period   Prior to 1st Oct 2026 w.e.f. 1st Oct 2026 Export of Goods 15 Months 9 Months: from the date of shipment in case of …

Note on ‘FEMA Export & Import of Goods & Services Regulations 2026 effective from 1st Oct 2026’, CS Anita Patil, Sr. Advisior, Bizsolindia Services Pvt Ltd. (October 2026) Read More »

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