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RBI:Commercial banks have been provided relaxation under concentration risk management norms for exposures arising from RBI’s special forex mobilisation measures and swap arrangements. (11.06.2026)

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RBI: Commercial banks have been provided relaxation under concentration risk management norms for exposures arising from RBI’s special forex mobilisation measures and swap arrangements. [Notification No. RBI/2026-27/110 DOR.CRE.REC.90/07.03.001/2026-27 dated 10.06.2026]

RBI:Exposures covered under RBI’s special foreign currency mobilisation framework have been accorded regulatory treatment under capital adequacy norms, preventing additional capital burden on banks. (11.06.2026)

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RBI: Exposures covered under RBI’s special foreign currency mobilisation framework have been accorded regulatory treatment under capital adequacy norms, preventing additional capital burden on banks. [Notification No. RBI/2026-27/111 DOR.CRE.REC.91/21-01-002/2026-27 dated 10.06.2026]

RBI:Small Finance Banks have been permitted to avail benefits under RBI’s special foreign exchange mobilisation measures, including regulatory relief for eligible foreign currency liabilities. (11.06.2026)

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RBI: Small Finance Banks have been permitted to avail benefits under RBI’s special foreign exchange mobilisation measures, including regulatory relief for eligible foreign currency liabilities. [Notification No. RBI/2026-27/112 DOR.CRE.REC.92/07.01.002/2026-27 dated 10.06.2026]

Judicial Corner : Refund Not Maintainable Without Challenging Self-Assessment { MAYUR UNIQUOTERS LTD. Versus COMMR. (APPEALS), C. EX. & CGST, JAIPUR 2024 (89) G.S.T.L. 269 (Tri. – Del.) / (2024) 21 Centax 395 (Tri. – Del.)} (09.06.2026)

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Refund Not Maintainable Without Challenging Self-Assessment { MAYUR UNIQUOTERS LTD. Versus COMMR. (APPEALS), C. EX. & CGST, JAIPUR 2024 (89) G.S.T.L. 269 (Tri. – Del.) / (2024) 21 Centax 395 (Tri. – Del.)} Facts Appellant imported goods under Advance Authorization and initially cleared the goods through self-assessment by claiming exemption from IGST. Subsequently, it realized …

Judicial Corner : Refund Not Maintainable Without Challenging Self-Assessment { MAYUR UNIQUOTERS LTD. Versus COMMR. (APPEALS), C. EX. & CGST, JAIPUR 2024 (89) G.S.T.L. 269 (Tri. – Del.) / (2024) 21 Centax 395 (Tri. – Del.)} (09.06.2026) Read More »

RBI:FPI norms for government securities has been eased by merging “general” and “long-term” categories and abolishing the 30% security-wise cap under the General Route. Additionally, the Fully Accessible Route (FAR) now includes 15, 30, and 40-year bonds, specifically adding three securities: 6.68% GS 2040, 7.24% GS 2055, and 7.71% GS 2066 (05.06.2026)

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RBI: FPI norms for government securities has been eased by merging “general” and “long-term” categories and abolishing the 30% security-wise cap under the General Route. Additionally, the Fully Accessible Route (FAR) now includes 15, 30, and 40-year bonds, specifically adding three securities: 6.68% GS 2040, 7.24% GS 2055, and 7.71% GS 2066 [RBI/2026-27/97 A.P. (DIR …

RBI:FPI norms for government securities has been eased by merging “general” and “long-term” categories and abolishing the 30% security-wise cap under the General Route. Additionally, the Fully Accessible Route (FAR) now includes 15, 30, and 40-year bonds, specifically adding three securities: 6.68% GS 2040, 7.24% GS 2055, and 7.71% GS 2066 (05.06.2026) Read More »

RBI:Effective June 30, 2026, AD Category-I banks must submit their monthly reporting for foreign offices (BO/LO/PO under Return Code ‘R343’) and NRO account remittances (Return Code ‘R006’) to the online CIMS portal, a mandatory ‘NIL’ report must be uploaded if there is no data to furnish.(05.06.2026)

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RBI: Effective June 30, 2026, AD Category-I banks must submit their monthly reporting for foreign offices (BO/LO/PO under Return Code ‘R343’) and NRO account remittances (Return Code ‘R006’) to the online CIMS portal, a mandatory ‘NIL’ report must be uploaded if there is no data to furnish. [Notification No. RBI/2026-27/98 A.P. (DIR Series) Circular No. …

RBI:Effective June 30, 2026, AD Category-I banks must submit their monthly reporting for foreign offices (BO/LO/PO under Return Code ‘R343’) and NRO account remittances (Return Code ‘R006’) to the online CIMS portal, a mandatory ‘NIL’ report must be uploaded if there is no data to furnish.(05.06.2026) Read More »

RBI: The Foreign Exchange Management (Cross Border Merger) Regulations, 2018 have been amended to replace the term “NCLT” with “Competent Authority” across all regulations, defining it as any authority legally empowered under the Companies Act, 2013 to approve a scheme of merger or amalgamation. (05.06.2026)

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RBI: The Foreign Exchange Management (Cross Border Merger) Regulations, 2018 have been amended to replace the term “NCLT” with “Competent Authority” across all regulations, defining it as any authority legally empowered under the Companies Act, 2013 to approve a scheme of merger or amalgamation. [Notification No. FEMA 389(1)/2026-RB dated 05.06.2026]

RBI: Following the official formation and demarcation of the Bajali district in Assam, the Reserve Bank of India has assigned its Lead Bank responsibility to Canara Bank, allocating the district working code 01O. Lead bank responsibilities for all other districts in Assam remain unchanged.(03.06.2026)

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RBI: Following the official formation and demarcation of the Bajali district in Assam, the Reserve Bank of India has assigned its Lead Bank responsibility to Canara Bank, allocating the district working code 01O. Lead bank responsibilities for all other districts in Assam remain unchanged. [FIDD.CO.LBS.BC.No.02/02.08.001/2026-27 dated 03.06.2026]

Customs: The Central Government has re-imposed Countervailing Duty (CVD) for a period of 5 years on imports of “Textured Toughened (Tempered) Coated and Uncoated Glass” (commonly called Solar Glass) originating in or exported from Malaysia, superseding Notification No. 3/2021-Customs (CVD). (03.06.2026)

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Customs: The Central Government has re-imposed Countervailing Duty (CVD) for a period of 5 years on imports of “Textured Toughened (Tempered) Coated and Uncoated Glass” (commonly called Solar Glass) originating in or exported from Malaysia, superseding Notification No. 3/2021-Customs (CVD). [Notification No. 02/2026-Customs (CVD) 02.06.2026]

DGFT: Appendix 2B of the FTP 2023 has been updated to list the specific authorized agencies permitted to issue Preferential Certificates of Origin under the India-Oman CEPA. The notified entities include the DGFT and its regional offices, the Export Inspection Council, APEDA, MPEDA, the Central Silk Board, the Coir Board, the Spices Board, the Textile Committee, the Tobacco Board, the Development Commissioner for Handicrafts, and various Special Economic Zones (such as Cochin, Falta, Kandla, MEPZ, NOIDA, SEEPZ, and Vishakhapatnam).(03.06.2026)

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DGFT: Appendix 2B of the FTP 2023 has been updated to list the specific authorized agencies permitted to issue Preferential Certificates of Origin under the India-Oman CEPA. The notified entities include the DGFT and its regional offices, the Export Inspection Council, APEDA, MPEDA, the Central Silk Board, the Coir Board, the Spices Board, the Textile …

DGFT: Appendix 2B of the FTP 2023 has been updated to list the specific authorized agencies permitted to issue Preferential Certificates of Origin under the India-Oman CEPA. The notified entities include the DGFT and its regional offices, the Export Inspection Council, APEDA, MPEDA, the Central Silk Board, the Coir Board, the Spices Board, the Textile Committee, the Tobacco Board, the Development Commissioner for Handicrafts, and various Special Economic Zones (such as Cochin, Falta, Kandla, MEPZ, NOIDA, SEEPZ, and Vishakhapatnam).(03.06.2026) Read More »

DGFT: Paragraph 2.88(a) of the HBP 2023 has been amended to include the India-Oman Comprehensive Economic Partnership Agreement (India-Oman CEPA) in the list of recognized Free Trade Agreements. This facilitates exporters in obtaining Certificates of Origin (CoO) through the electronic issuance system managed by authorized agencies.(03.06.2026)

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DGFT: Paragraph 2.88(a) of the HBP 2023 has been amended to include the India-Oman Comprehensive Economic Partnership Agreement (India-Oman CEPA) in the list of recognized Free Trade Agreements. This facilitates exporters in obtaining Certificates of Origin (CoO) through the electronic issuance system managed by authorized agencies. [Public Notice No. 16/2026-27 dated 02.06.2026]

Judicial Corner: ITC cannot be denied solely due to vendor’s non-filing of returns and J1-J2 mismatch { M/s Aayushi Telecom v. State of Maharashtra  S.A. No. 77 of 2024 dated 17.03.2026}(02.06.2026)

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ITC cannot be denied solely due to vendor’s non-filing of returns and J1-J2 mismatch { M/s Aayushi Telecom v. State of Maharashtra  S.A. No. 77 of 2024 dated 17.03.2026} Facts: ITC was disallowed during assessment due to J1-J2 mismatch. The First Appellate Authority partly allowed the claim. Appellant contended that the mismatch related to purchases …

Judicial Corner: ITC cannot be denied solely due to vendor’s non-filing of returns and J1-J2 mismatch { M/s Aayushi Telecom v. State of Maharashtra  S.A. No. 77 of 2024 dated 17.03.2026}(02.06.2026) Read More »

Income Tax:  The Central Board of Direct Taxes (CBDT) has notified that businesses engaged in infrastructure sub-sectors covered under the Updated Harmonised Master List, notified by the Department of Economic Affairs, will qualify as specified businesses for the purposes of Schedule V [Table: Sl. No. 7] of the Income-tax Act, 2025. The notification takes effect from 1 June 2026.(02.06.2026)

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Income Tax:  The Central Board of Direct Taxes (CBDT) has notified that businesses engaged in infrastructure sub-sectors covered under the Updated Harmonised Master List, notified by the Department of Economic Affairs, will qualify as specified businesses for the purposes of Schedule V [Table: Sl. No. 7] of the Income-tax Act, 2025. The notification takes effect …

Income Tax:  The Central Board of Direct Taxes (CBDT) has notified that businesses engaged in infrastructure sub-sectors covered under the Updated Harmonised Master List, notified by the Department of Economic Affairs, will qualify as specified businesses for the purposes of Schedule V [Table: Sl. No. 7] of the Income-tax Act, 2025. The notification takes effect from 1 June 2026.(02.06.2026) Read More »

DGFT: The government has nominated 40 new non-official members from diverse industry, corporate, and institutional backgrounds to the Board of Trade, superseding the previous 2022 appointments. These members are tasked with articulating state-oriented trade perspectives, advising on short and long-term export strategies, reviewing sector-specific export performance, and addressing infrastructure impediments to boost India’s global trade competitiveness.(02.06.2026)

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DGFT: The government has nominated 40 new non-official members from diverse industry, corporate, and institutional backgrounds to the Board of Trade, superseding the previous 2022 appointments. These members are tasked with articulating state-oriented trade perspectives, advising on short and long-term export strategies, reviewing sector-specific export performance, and addressing infrastructure impediments to boost India’s global trade …

DGFT: The government has nominated 40 new non-official members from diverse industry, corporate, and institutional backgrounds to the Board of Trade, superseding the previous 2022 appointments. These members are tasked with articulating state-oriented trade perspectives, advising on short and long-term export strategies, reviewing sector-specific export performance, and addressing infrastructure impediments to boost India’s global trade competitiveness.(02.06.2026) Read More »

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