Daily Updates
Judicial Corner:GSTAT: Detention upheld as e-way bill showed wrong vehicle with no proof of breakdown, indicating evasion intent{ Ferrous Infra Solutions vs. Commissioner SGST Uttar Pradesh [2026] 190 taxmann.com 324 (15.09.2026)
GSTAT: Detention upheld as e-way bill showed wrong vehicle with no proof of breakdown, indicating evasion intent{ Ferrous Infra Solutions vs. Commissioner SGST Uttar Pradesh [2026] 190 taxmann.com 324 (GSTAT – LUCKNOW)} Facts Appellant was transporting goods covered by an e-way bill. On interception, the vehicle number mentioned in the e-way bill was different from …
Income Tax: Format, procedure and guidelines prescribed for depositories to report capital gains arising from transfer of listed securities and mutual fund units under Section 508 of the Income-tax Act, 2025.(15.09.2026)
Income Tax: Format, procedure and guidelines prescribed for depositories to report capital gains arising from transfer of listed securities and mutual fund units under Section 508 of the Income-tax Act, 2025. (Notification 1 OF 2026 dated 14.09.26)
Customs:Anti-dumping duty on Calcined Gypsum Powder/Gypsum Plaster (HSN 2520) from Iran, Oman, Saudi Arabia and UAE is extended up to 16 March 2027.(15.09.2026)
Customs: Anti-dumping duty on Calcined Gypsum Powder/Gypsum Plaster (HSN 2520) from Iran, Oman, Saudi Arabia and UAE is extended up to 16 March 2027. (Notification No. 22/2026-Customs (ADD) dated 14.09.26)
DGFT: DGFT is establishing a Central Processing Department (CPD), Delhi to implement a faceless, paperless and jurisdiction-free trade facilitation system, with operations targeted from October 2026.(15.09.2026)
DGFT: DGFT is establishing a Central Processing Department (CPD), Delhi to implement a faceless, paperless and jurisdiction-free trade facilitation system, with operations targeted from October 2026. (OFFICE MEMORANDUM dated 14.09.26)
DGFT: Proposed amendment to Para 2.93 introduces comprehensive Non-Preferential Rules of Origin for exports and imports, including processing criteria, 35% value addition/CTH for imports, CoO procedures and importer self-declaration. (15.09.2026)
DGFT: Proposed amendment to Para 2.93 introduces comprehensive Non-Preferential Rules of Origin for exports and imports, including processing criteria, 35% value addition/CTH for imports, CoO procedures and importer self-declaration. (Trade Notice No.27 /2026-27 dated 14.09.26)
DGFT: TRQ holders can surrender unutilised raw sugar import quota up to 30 September 2026, subject to payment of 0.5% of CIF value of the surrendered quantity. (15.09.206)
DGFT: TRQ holders can surrender unutilised raw sugar import quota up to 30 September 2026, subject to payment of 0.5% of CIF value of the surrendered quantity. (Public Notice No. 30/2026-2027 dated 14.09.26)
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. (15.09.2026)
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.(08.09.2026)
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 (08.09.2026)
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.(08.09.2026)
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.(08.09.2026)
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)
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.(07.09.2026)
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)
Judicial Corner: 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)} (07.09.2026)
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.(04.09.2026)
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 Exices: The excise duty rate has been revised to ₹1 per litre, effective from publication date.(03.09.2026)
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. (03.09.2026)
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.(03.09.2026)
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)
