Team Bizsol

Customs: Merchant Overtime (MOT) charges have been completely waived for services rendered by customs officers during the clearance of international cruise passengers and their accompanied baggage. This trade-facilitation waiver applies operationally at all customs ports and locations notified for 24×7 operations. [Circular No.27/2026-Customs dated 15.06.2026]

Customs: Customs will now accept export test reports from NABL-accredited or EPC-recognized labs directly, eliminating mandatory duplicate testing at Revenue Laboratories (CRCL) unless a specific risk or intelligence flag is raised. This relaxation applies strictly to exports; import testing procedures remain completely unchanged. [Circular No.28/2026-Customs dated 15.06.2026]

Customs: Past imports of goods used for generation of nuclear power under Tariff Item 8401 30 00 made during 01.04.2019 to 31.01.2026 have been exempted from customs duty by way of retrospective regularisation. [Notification No. 53/2026-CUSTOMS (N.T.) dated 11.06.2026]

Customs: Updated tariff values for Edible oils, gold, silver, and areca nuts have been notified. Changes apply from 12th June 2026. [Notification No. 54/2026-CUSTOMS (N.T.) dated 11.06.2026]

Central Excise: Nil Central Excise Duty, Special Additional Excise Duty (SAED),  Road and Infrastructure Cess (RIC), Agriculture Infrastructure and Development Cess (AIDC) has been extended to 22%, 25%, 27% and 30% ethanol blended petrol meeting prescribed blending norms and BIS Specification IS 19850. [Notification No. 26/2026 to 29/2026-Central Excise dated 10.06.2026]

RBI: Banks have been allowed to undertake swaps of eligible FCNR(B) deposits with RBI at a concessional fixed rate of 1.5% per annum for deposits mobilised between 08.06.2026 and 30.09.2026. [Notification No. RBI/2026-27/99 FMOD.MAOG.No.S-56/01.06.016/2026-27 dated 08.06.2026]

RBI: A concessional RBI swap facility at a fixed rate of 1.5% per annum has been introduced for eligible External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) for a tenor of up to five years. [Notification No. RBI/2026-27/100 FMOD.MAOG.No.S-57/01.06.016/2026-27 dated 08.06.2026]  

RBI: Authorized Dealer Category-I Banks have been permitted enhanced flexibility in maintaining NOP-INR limits by excluding positions arising from eligible foreign currency inflows under RBI’s special forex mobilisation measures. [Notification No. RBI/2026-27/101 A.P. (DIR Series) Circular No. 13 dated 08.06.2026]

RBI: FCNR(B) deposits mobilised between 08.06.2026 and 30.09.2026 with a maturity period of 3 to 5 years have been exempted from CRR and SLR requirements for Regional Rural Banks, Rural Co-operative Banks, Urban Co-operative Banks, small finance banks & commercial banks reducing reserve maintenance burden and encouraging foreign currency inflows. [Notification No. RBI/2026-27/102 to 106 …

RBI: FCNR(B) deposits mobilised between 08.06.2026 and 30.09.2026 with a maturity period of 3 to 5 years have been exempted from CRR and SLR requirements for Regional Rural Banks, Rural Co-operative Banks, Urban Co-operative Banks, small finance banks & commercial banks reducing reserve maintenance burden and encouraging foreign currency inflows. (11.06.2026) Read More »

RBI: The RBI has combined all its separate rules into one master guide directing banks exactly how to receive, count, check, and safely store the withdrawn ₹2000 notes to ensure uniform backend processing before sending them to currency chests. [Notification No. RBI/2026-27/107 DCM(Plg) No.S736/10.02.060/2026-27 dated 09.06.2026]

RBI: RBI has updated its master instructions for banks to completely phase out currency notes printed before 2005 of public use by holding onto them whenever they are deposited and replacing them with newer notes. However, these are still valid, legal tender and have not been banned, [Notification No. RBI/2026-27/108 DCM(Plg) No.S737/10.02.060/2026-27 dated 09.06.2026]

RBI: Commercial banks have been permitted to access concessional RBI swap facilities and related regulatory relaxations for eligible foreign currency borrowings and liabilities. [Notification No. RBI/2026-27/109 DOR.CRE.REC.89/07.01.001/2026-27 dated 10.06.2026]

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. [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. [Notification No. RBI/2026-27/112 DOR.CRE.REC.92/07.01.002/2026-27 dated 10.06.2026]

RBI: All India Financial Institutions (AIFIs) have been permitted to avail the concessional RBI swap facility at 1.5% per annum for eligible overseas foreign currency borrowings. [Notification No. RBI/2026-27/113 DOR.CRE.REC.93/07.01.007/2026-27 dated 10.06.2026]

Customs: Levy of anti-dumping duty on ‘Aluminium Foil’ originating in or exported from China PR, Malaysia, Thailand and Indonesia, has been extended up to and inclusive of 15th December, 2026. [Notification No. 10/2026-Customs (ADD) dated 10.06.2026]

Customs: Imports of high-grade manganese ore under tariff item 26020010 has been exempted from Basic Customs Duty. [Notification No. 21/2026-Customs dated 09.06.2026]

GST Timeline for implementation of mandatory “Ship To GSTIN” and Voluntary Closure of E-Way Bill functionalities has been extended from 15th June 2026 to 01st August 2026. [GSTN Advisory dated 09.06.2026]