DGFT: Small-value export consignments with FOB value up to ₹3 lakh are exempt from RCMC/Certificate of Registration requirements, promoting exports through postal, courier and emerging channels. (Notification No. 36/2026-27 dated 15.09.26)
FEMA & Banking: IFSCA notified the FEM (Non-Debt Instruments) (Fourth Amendment) Rules, 2026, permitting inventory-based e-commerce exclusively for exporting Indian-manufactured or produced goods under applicable regulations. (NOTIFICATION NO. S.O. 4870(E). [F.NO. 1/4/2026-EM] dated 05.09.26)
FEMA & Banking: IFSCA notified the 2026 Market Abuse Regulations, establishing measures against insider trading, manipulation, fraudulent practices, and unfair trading to protect investors. (NOTIFICATION NO. IFSCA/GN/2026/012 dated 07.09.26)
DGFT: 544 SIONs that remained unutilized under the Advance Authorisation/DFIA Schemes during the last three financial years are proposed for suspension. Stakeholders may submit comments within 15 days. (Trade Notice No. 26/2026-27 dated 07.09.26)
GST: Taxpayers can now file appeals in Form GST APL-01 against NIL/Zero demand orders where a tax liability dispute exists, even if the disputed amount was paid before the order. (Update, dated 07.09.26)
Bizsol Update for the month September 2026. From the Desk of Chairman Article on ‘STARE DECISSIS ON TRIAL BINDING FORCE OF JUDICIAL CONVENTIONS UNDER THREAT’ , by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Article on ‘Maharashtra Global Capability Centre (GCC) Policy, 2025 – Operational Guidelines Issued: Eligibility, Incentives and Implementation Framework’ , …
DGFT An Open API facility for Certificate of Origin has been introduced on Trade Connect, enabling ERP/software integration for electronic CoO applications and reducing manual data entry. (Trade Notice No. 25/2026-27 dated 07.09.26)
Waiver of Interest under Sections 234A, 234B & 234C Denied Where Assessee Did Not Act Pursuant to Existing HC Order { K.R. Ushasree vs. Chief Commissioner of Income-tax 2026] 189 taxmann.com 667 (Kerala)} Facts: The assessee’s had claimed deductions under Section 80HHC in their income-tax returns. Subsequently, due to a change in law by the …
Customs The National Assessment Centre (NAC) Portal has been launched as a common platform for accessing assessment decisions, rulings, advisories and audit observations, promoting uniformity and transparency. (Circular No.41/2026-Customs dated 03.09.26)
Central Excise: The excise duty rate has been revised to ₹1 per litre, effective from publication date. (Notification No. 48/2026-Central Excise dated 01.09.26)
Central Excise: The excise duty rate has been revised to ₹19 per litre, effective from publication date. (Notification No. 47/2026-Central Excise dated 01.09.26)
Central Excise: The excise duty rate has been revised to ₹1.5 per litre, effective from publication date. (Notification No. 46/2026-Central Excise dated 01.09.26)
DGFT: The timeline for one-time conversion of eligible Advance Authorisations under SION E-52 to TRQ for import of Raw Sugar has been extended. Applications can be submitted up to 7 September 2026. (Public Notice No. 29 /2026-27 dated 03.09.26)
Customs: Before granting Out-of-Charge in case of PGA facilitated Bills of Entry, Customs officers must verify prescribed documents for imports of cosmetics, drugs, medical devices and related raw materials/components. (Circular No.40/2026-Customs dated 03.09.26)
Customs The EMI Scheme application process has been simplified by reducing documentation and information requirements. Eligible importers can apply under the revised process from 15 September 2026. (Circular No.39/2026-Customs dated 03.09.26)
The floods that ravaged Nepal in August 2026 were more than a natural disaster – they were a preventable tragedy, a stark indictment of how fragile progress becomes when warnings are ignored and resilience is neglected. A glacier collapse on Langtang Lirung unleashed torrents that swept away entire communities, leaving over a thousand dead and …
Introduction: The Supreme Court delivered an important judgment recently making a clear deviation from judicial convention in the process. This judgment was in the realm of labour laws, but the principle applied by judges here would affect scope of judgments of the apex court could get affected overall. The message emanating from the judgment goes …
The Government of Maharashtra has issued the Operational Guidelines for implementation of the Maharashtra Global Capability Centre (GCC) Policy, 2025 vide Government Resolution No. GCC-2025 /C.R.320 /Industries-2-Department Industries, Investment, Services & Mining Department, Government of Maharashtra Dated 19 August 2026 The Guidelines have been issued pursuant to the Maharashtra GCC Policy, 2025, notified vide Government …
Introduction In the course of handling GST refund matters, a recurring issue that continues to arise is the computation of “Adjusted Total Turnover” under Rule 89(4) of the CGST Rules, 2017. Recently, a notice was received from the GST department seeking clarification on the value adopted in the computation of adjusted total turnover in a refund application filed …
Refund cannot be withheld without specific order under Section 54(11) Commissioner must issue SCN and pass a reasoned order { KPIL-JWIL Joint Venture v. State of Bihar, [2026] 189 taxmann.com 1002 (Patna)} Facts The petitioner, a works contractor, claimed a refund of the excess balance lying in its electronic cash ledger for FY 2022–23. The …
