GST GSTN advisory clarifies that from January 2026, GSTR-3B interest will be system-computed as per Rule 88B, considering cash balance, with auto-populated liabilities, ITC utilisation guidance, and recovery via GSTR-10. (Advisory, dated 30.01.26)
Judicial Corner: GST registration was cancelled and later DRC-01 issued without pre-intimation, and ex parte order passed without hearing, in view of assessee’s bona fide inability to reply one more opportunity was to be granted; impugned order was set aside and matter remanded for fresh reconsideration { Indian Steel Traders vs. Principal Commissioner of Central …
Customs: Tariff values under Customs have been amended; silver tariff value revised to USD 3545 per kg, while gold, oils and other notified items remain unchanged, effective from 28 January 2026. (Notification No. 09/2026 – CUSTOMS (N.T.) dated 27.01.26)
DGFT: The second round of Gold TRQ allocation under India-UAE CEPA for FY 2025-26 has been notified through competitive bidding, covering 80 MT with defined eligibility conditions and MSME-wise quantity limits. (Public notice no.45 dated 23.01.26)
Customs Notification amends tariff values under Customs Act, revising tables for oils, metals and bullion; gold tariff value fixed at USD 1567 per 10 grams, effective 23 January 2026. (Notification no. 08/2026 – CUSTOMS (N.T.) dated 22.01.26)
GST An advisory has been issued prescribing RSP-based valuation for notified tobacco goods from 01.02.2026. GST is computed on RSP, while systems should report net sale value, RSP-based tax, and correct invoice value. (Advisory dated 23.01.26)
Limitation issue pending before SC impugned demand quashed and matter remanded for fresh decision{ Bangalore Matics (P.) Ltd. vs. Union of India [2026] 182 taxmann.com 429 (Karnataka)} Facts The petitioner was issued GST proceedings and a demand order beyond the normal limitation period. The department justified the demand by relying on GST notifications extending limitation …
On filing second appeal with 10% pre-deposit, bank attachment after first appeal rejection must be lifted { S. S. Civil Construction (P.) Ltd. v. Assistant Commissioner of Revenue, State Tax [2026] 182 taxmann.com 359 (Calcutta HC) Facts: Assessee’s first appeal under GST was rejected by the appellate authority. Thereafter, the department attached the assessee’s bank …
Assignment of leasehold rights in plot is not supply of service as same not in course or furtherance of business { Aerocom Cushions (P.) Ltd. vs. Assistant Commissioner (Anti-Evasion), CGST & CX, Nagpur-1 [2026] 182 taxmann.com 432 (Bombay)} Facts Aerocom Cushions Pvt. Ltd. was allotted a plot on a long-term lease (95 years) for industrial …
DGFT: Amendments clarify eligibility, applicability date, exclusions, MSME continuity, bank discretion, reimbursement process, ceilings, and compliance for interest subvention on pre- and post-shipment export credit under EPM Niryat Protsahan. (Trade Notice No. 22/2025-26 dated 16.01.26)
DGFT Modalities prescribe online applications, eligibility conditions, documentation, minimum quantity, non-transferable authorisations, allocation by a Special Committee, monthly review, and post-export reporting for wheat flour exports under HS Code 1101. (Public Notice No. 44 /2025-26 dated 16.01.26)
DGFT Export of wheat flour and related products under HS Code 1101 remains prohibited; however, export of 5 LMT is additionally permitted against DGFT export authorisation, subject to prescribed conditions. (Notification No. 55/2025-26 dated 16.01.26)
Customs Cross Recessed Screws QCO applies from 1 November 2025, with deferred MSME timelines; consignments arriving between 1 November 2025 and 12 January 2026 are exempted. (Instruction No. 01/2026-Customs dated 17.01.26)
Judicial Corner: Appellate authority’s cryptic, unreasoned affirmation of refund rejection passed without independent analysis or application of mind was held unsustainable in law { Virtusa Consulting Services (P.) Ltd. v. Union of India [2025] 181 taxmann.com 265 (Karnataka High Court) Facts The petitioner, Virtusa Consulting Services (P.) Ltd., had filed a refund …
DGFT Amendments refine interest subvention eligibility, rates, exclusions, MSME continuity, sanction-date applicability, bank discretion, reimbursement mechanism, and compliance requirements under EPM Niryat Protsahan for export credit. (Trade Notice No. 22/2025-26 dated 16.01.26)
Customs: The circular extends electronic export benefits (Drawback, RoDTEP, RoSCTL) to postal exports by integrating DNK with ICES, amending Circular 25/2022-Customs, and prescribing revised procedures and links. (Circular No. 01/2026-Customs dated 15.01.26)
Customs: Tariff values for specified goods, including edible oils, metals, gold, silver, and areca nuts, have been revised by substituting Tables 1, 2, and 3, effective from 16 January. (Notification No. 01/2026-Customs (N.T.) dated 13.01.26)
Customs: The notification amends Notification No. 61/94-Customs to notify Bhogapuram, Andhra Pradesh, as a customs area for unloading imported goods and loading export goods, by inserting a new entry in the prescribed table. (Notification No. 02/2026-Customs (N.T.) dated 15.01.26)
Customs: The Drawback Rules, 2017 have been amended to extend duty drawback benefits to exports by post, recognising electronic entries under section 84, with effect from 15 January 2026. (Notification No. 03/2026-Customs (N.T.) dated 15.01.26)
Customs: The notification amends export procedures to extend Section 51B benefits to postal exports by permitting electronic entries under Section 84, aligning post exports with shipping bills and bills of export. (Notification No. 04/2026-Customs (N.T.) dated 15.01.26)
