DGFT: Paragraph 4.49 of FTP 2023 on Special Notified Zones (SNZs) is amended to allow eligible foreign entities under Entry 13F of Schedule IV of the Income-tax Act, 2025, to perform permitted activities [Notification No. 42/2026-27 dated 09.10.2026]
Customs: Industrial and grid-scale battery systems (BESS) under HSN 8507 60 00 are officially clarified not to be “power banks,” making them eligible for the concessional BCD rate at 10%. [Circular No. 45/2026-Customs dated 09.10.2026]
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. [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. [Instruction No. 19/2026- Customs dated 05.10.2026]
Customs: Smartphone screen protectors must meet official safety standards (IS 19348:2025) and obtain compulsory registration starting April 1, 2027. [Instruction No. 20/2026- Customs dated 07.10.2026]
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. [Notification No. 81/2026 – Customs (N.T.) dated 07.10.2026]
Highlights of 57th GST Council Meeting dtd 08.10.2026:
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 …
Bizsol Update for the month October 2026. From the Desk of Chairman Article on ‘THE POWER DISTANCE INDEX – CULTTURAL ACCEPTANCE OF AUTHORITY AND ORGANISATIONAL BAHAVIOUR’ , by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Note on ‘Trade & Industry : Major Changes Effected from October 2026’, by CMA Ashok Nawal, Founder, Bizsolindia …
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 …
DGFT The Export Promotion Mission has revised and unified the composition of the Sub-Committee on Trade Finance across all Niryat Protsahan interventions, superseding previous notifications. [Trade Notice No. 29/2026-27 dated 01.10.2026]
The Tata Trusts–Tata Sons imbroglio is one of the most consequential governance disputes in the history of the Tata group. It is not merely a disagreement about the reappointment of N. Chandrasekaran as the Executive Chairman of Tata Sons. It exposes a deeper tension between the board-led management of Tata Sons and the control rights …
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 …
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 …
Kindly note important changes which need your immediate attention : Trade and Industry should take the note of major changes effected and made applicable and need focus in the month of October : Provident Fund : Salary needs to be calculated for the month of Sept 2026 to be paid on or before 7th October …
Refund of ITC under Inverted Duty Structure Allowed Despite Same HSN{ Commissioner of CGST & Central Excise vs. HP Cotton Casuals (P.) Ltd. [2026] 190 taxmann.com 451 (GSTAT – KOLKATA)/[2026] 117 GST 632 (GSTAT – KOLKATA)} Facts: Assessee claimed refund of unutilised ITC accumulated due to an inverted duty structure, where the tax rate on …
Income Tax: Joint Commissioners (Appeals) and Additional Commissioners (Appeals) are now subordinate to the Principal Chief Commissioners or Chief Commissioners of Income-tax within their jurisdiction [Notification No. 133/2026 dated 30.09.2026]
Central Excise: Special Additional Excise Duty on Aviation Turbine Fuel revised to Rs. 18.5 per litre starting October 1, 2026. [Notification No. 52/2026-Central Excise dated 30.09.2026]
Cetral Excise: Excise duty on Aviation Turbine Fuel revised to Rs. 10.5 per litre starting October 1, 2026. [Notification No. 53/2026-Central Excise dated 30.09.2026]
