Team Bizsol

GST: The CBIC has clarified that when a taxpayer transfers to a new jurisdiction, all past actions taken by the old authority remain valid. The old authority cannot start new proceedings post-migration, while the new authority takes over pending cases, implements past orders, and handles all subsequent legal actions and appeals. [Circular No. 255/01/2026-GST dated …

GST: The CBIC has clarified that when a taxpayer transfers to a new jurisdiction, all past actions taken by the old authority remain valid. The old authority cannot start new proceedings post-migration, while the new authority takes over pending cases, implements past orders, and handles all subsequent legal actions and appeals. (26.06.2026) Read More »

Customs:  The Central Board of Indirect Taxes and Customs has established a Green Channel mechanism at designated air and sea ports for the expeditious and round-the-clock Customs clearance of pollution response equipment and materials during marine oil and hazardous substance spill emergencies. [Instruction No. 11/2026-Customs dated 23.06.2026]

RBI: The Reserve Bank of India has issued a comprehensive Master Direction to rationalise and harmonise guidelines for Trade Receivables Discounting System (TReDS) platform operators and participants. [RBI/DPSS/2026-27/406 CO.DPSS.POLC.No.S257/02-01-010/2026-27 dated 23.06.2026]

RBI: The prudential treatment of underlying credit facilities, including pre-sanctioned UPI credit lines at Small Finance Banks, shall be solely determined by the nature of the facility under applicable regulatory norms.   [RBI/2026-27/151 DOR.STR.REC.129/21-07-001/2026-27 dated 23.06.2026]

RBI: The prudential treatment of underlying credit facilities, including pre-sanctioned UPI credit lines at commercial banks, shall be solely determined by the nature of the facility under applicable regulatory norms. [RBI/2026-27/152 DOR.STR.REC.128/21.04.048/2026-27 dated 23.06.2026]

RBI: Authorised Dealer Category-I banks has been directed to exclude positions from hedged transactions related to FCNR(B) deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings when computing their net overnight open positions. [RBI/2026-27/153 A.P. (DIR Series) Circular No.16 dated 23.06.2026]

GST: GSTN will mandatorily capture “Ship-to GSTIN” (entering “URP” for unregistered persons) and implement the voluntary closure of e-Way Bills in the production environment effective from 1st August, 2026. [GSTN Advisory dated 17.06.2026]

Customs: CBIC has mandated strict data-entry timelines and value thresholds for logging all customs offense cases onto the DIGIT platform across their entire enforcement lifecycle from investigation to prosecution. [Instruction No. 10/2026-Customs dated 18.06.2026]

Customs: Navi Mumbai International Airport (NMIA) has been authorized to process and clear international couriers. [Notification No. 57/2026-Customs (N.T.) dated 18.06.2026]

Judicial Corner: Unsigned GST Show Cause Notice and Assessment Order Invalid { High Noon Consulting Private Limited v. Deputy Commissioner of State Tax W.P. No. 17720 of 2024} Facts The petitioner challenged a GST Show Cause Notice and the consequential Assessment Order issued under the CGST/TGST Acts. The principal ground of challenge was that neither …

Judicial Corner : Unsigned GST Show Cause Notice and Assessment Order Invalid (22.06.2026) Read More »

Supreme Court Affirms that Rule 86A Cannot Be Used for Negative Blocking of Electronic Credit Ledger { Union of India & Ors. v. M/s. K.K. Alloys 2026 Taxo.online 1720 (Supreme Court)} Facts: GST Department blocked the taxpayer’s Electronic Credit Ledger under Rule 86A by an amount exceeding the ITC actually available, thereby creating a negative …

Judicial Corner : Supreme Court Affirms that Rule 86A Cannot Be Used for Negative Blocking of Electronic Credit Ledger (22.06.2026) Read More »

Customs: Anti-dumping duty on imports of bottle-grade Polyethylene Terephthalate (PET) resin originating in or exported from the People’s Republic of China has been extended at a rate of 200.66 USD per metric ton for a period of five years. [Notification No. 12/2026-Customs (ADD) dated 19.06.2026]

Customs Anti-dumping duty for a period of five years has been imposed on imports of ‘Sulphenamides Accelerators’ (specifically CBS and NS forms) originating in or exported from China, the European Union, and the United States of America. [Notification No. 11/2026-Customs (ADD) dated 19.06.2026]

Income Tax: The CBDT has issued guidelines prescribing parameters and procedures for compulsory selection of income-tax returns for complete scrutiny during FY 2026-27. The instructions cover returns filed during FY 2025-26 and specify six categories of cases that shall mandatorily be selected for scrutiny. The guidelines have been issued under section 536(2)(c) of the Income-tax …

Income Tax: The CBDT has issued guidelines prescribing parameters and procedures for compulsory selection of income-tax returns for complete scrutiny during FY 2026-27. The instructions cover returns filed during FY 2025-26 and specify six categories of cases that shall mandatorily be selected for scrutiny. The guidelines have been issued under section 536(2)(c) of the Income-tax Act, 2025.(17.06.2026) Read More »

Customs: Notification 56/2026-Customs omits ICD Mulund from Serial 18 and adds “airports” to Thane, Palghar, and Raigad under Serial 20, putting Navi Mumbai Airport under centralized Mumbai Airport Customs control. [Notification No. 56/2026-Customs (N.T.) dated 16.06.2026]

Central Excise: Notification No. 6/2026-Central Excise has been amended to increase the Special Additional Excise Duty (SAED) on High Speed Diesel (HSD) from Rs. 13.5 per litre to Rs. 14 per litre, effective 16-06-2026. The revised rate applies only to goods cleared for export and excludes PSU exports to Nepal, Bhutan, Bangladesh and Sri Lanka. …

Central Excise: Notification No. 6/2026-Central Excise has been amended to increase the Special Additional Excise Duty (SAED) on High Speed Diesel (HSD) from Rs. 13.5 per litre to Rs. 14 per litre, effective 16-06-2026. The revised rate applies only to goods cleared for export and excludes PSU exports to Nepal, Bhutan, Bangladesh and Sri Lanka.(17.06.2026) Read More »

Central Excise: Notification No. 8/2026-Central Excise has been amended to increase the Special Additional Excise Duty (SAED) on Aviation Turbine Fuel (ATF) from Rs. 9.5 per litre to Rs. 12.5 per litre, effective from 16-06-2026. [Notification No. 31/2026-Central Excise  dated 15.06.2026]

GST Exemption for Hostel Accommodation in Residential Dwelling {The State of Karnataka v. Taghar Vasudeva Ambrish 2025 INSC 1380; Civil Appeal Nos. 7846–7847 of 2023 (SC)}  Facts The respondent co-owned a residential building in Bengaluru consisting of 42 rooms. The property was leased to M/s DTwelve Spaces Pvt. Ltd., which operated it as a hostel/PG …

Judicial Corner:GST Exemption for Hostel Accommodation in Residential Dwelling {The State of Karnataka v. Taghar Vasudeva Ambrish 2025 INSC 1380; Civil Appeal Nos. 7846–7847 of 2023 (SC)} (16.06.2026) Read More »

Customs: MeitY has broadened its Compulsory Registration Order (CRO), 2021 by explicitly substituting entry Serial No. 50 to cover “Standalone Hard Disk Drives”. While USB Type External Hard Disk Drives will remain under their existing regular rules, all other standalone bare or internal hard disk drives will face mandatory BIS registration under safety standard IS …

Customs: MeitY has broadened its Compulsory Registration Order (CRO), 2021 by explicitly substituting entry Serial No. 50 to cover “Standalone Hard Disk Drives”. (16.06.2026) Read More »