Daily Updates

CUSTOM The Central Board of Indirect Taxes and Customs has updated tariff values for certain imported goods like gold, silver, edible oils, brass scrap, and areca nuts through Notification. However, most values remain unchanged, such as gold at USD 1526 per 10 grams and silver at USD 2427 per kg. These values are used to …

CUSTOM: The Central Board of Indirect Taxes and Customs has updated tariff values for certain imported goods like gold, silver, edible oils, brass scrap, and areca nuts through Notification.(06.04.2026) Read More »

DGFT: The Government has revised the import policy for jewellery items under CTH 7113 from “Free” to “Restricted” with immediate effect. Import license is now required, even for prior contracts. However, exemptions are allowed for SEZs, EOUs, export schemes, and certain imports under the India-UAE CEPA quota system. (Notification No. 02/2026-27 – DGFT | Dated: …

DGFT: The Government has revised the import policy for jewellery items under CTH 7113 from “Free” to “Restricted” with immediate effect. Import license is now required, even for prior contracts. (03.04.2026) Read More »

DGFT The Government has allowed export of essential commodities like eggs, rice, sugar, onions, and sand to Maldives for FY 2026–27 under a trade agreement. These exports are exempt from restrictions, subject to quantity limits and conditions like health certificates and environmental approvals. (Notification No. 01/2026-27-DGFT | Dated: 01.04.2026)

Customs: CBIC has clarified that Bills of Entry for goods cleared from SEZ to DTA under concessional duty will be processed through faceless assessment and routed via RMS. SEZ officers will handle post-assessment clearance. Existing rules remain unchanged, and ICEGATE Helpdesk will address grievances for smooth and efficient processing. (Circular No. 18/2026-Customs dated 01.04.2026)

Customs: The Ministry of Finance has removed AIDC (Agriculture Infrastructure and Development Cess) on import of ammonium nitrate. This means no AIDC will be charged on its import from 2 April 2026 to 30 June 2026, to reduce costs and support related industries. (Notification No. 13/2026–Customs dated 01.04.2026)

Customs: The Ministry of Finance has granted a temporary exemption from Basic Customs Duty (BCD) on the import of 40 specified chemicals, petrochemicals, and polymer products. This exemption is effective from 2 April 2026 to 30 June 2026 to reduce costs and support industry. (Notification No. 12/2026-Customs dated 01.04.2026)

INCOME TAX CBDT has made DIN mandatory for all income-tax communications like notices and orders; exceptions allowed in specific cases with approval, improving transparency, tracking, and accountability in tax administration system. (Circular No. 4/2026-Income Tax, dated 31.03.2026)

CUSTOM Government amended courier import rules effective 1 April 2026 to streamline clearance and improve efficiency. Goods not cleared within 30 days will be detained and disposed after notice, with storage charges borne by authorised courier. Couriers can request re-export or return of uncleared goods after 15 days, subject to conditions. Additionally, the ₹10 lakh …

Customs: Government amended courier import rules effective 1 April 2026 to streamline clearance and improve efficiency. Goods not cleared within 30 days will be detained and disposed after notice, with storage charges borne by authorised courier.(01.04.2026) Read More »

DGFT: Government has extended Minimum Import Price of ₹67,220 per MT on specified paper board imports till 30 April 2026 to regulate imports and protect domestic industry. (Notification No. 69/2025-26 dated 31.03.2026)

DGFT: Government has extended free import of Yellow Peas till 31 March 2027, without minimum price or port restrictions, but importers must complete mandatory registration under the import monitoring system. (Notification No. 70/2025-26 dated 31.03.2026)

DGFT: Government has extended free import of Urad till 31 March 2027, allowing importers to import without any restriction or license requirement for one more year, which earlier permitted free imports only up to 31 March 2026. (Notification No. 71/2025-26 dated 31.03.2026)

DGFT: DGFT has provided a one-time relief to diamond exporters, where re-import deadlines falling between 1 March and 31 May 2026 are automatically extended by 30 days from the original expiry date. (Notification No. 73/2025-26 dated 31.03.2026)

DGFT: Government has extended the RoDTEP scheme till 30 September 2026 for all eligible exports, with same rates, caps, and conditions continuing without any change. (Notification No. 74/2025-26 dated 31.03.2026)

DGFT Government has extended free import of Tur (pigeon peas) till 31 March 2027, allowing importers to import without any restriction or license requirement for one more year. Earlier, imports were allowed freely only up to 31st March 2026. (Notification No. 72/2025-26 dated 31.03.2026)

MCA / IEPFA The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, organised a “Niveshak Shivir” in Bhubaneswar on 27 March 2026 in collaboration with SEBI and Market Infrastructure Institutions. The camp served as a single‑window facilitation platform to assist investors in resolving issues related to unclaimed dividends, shares, and …

MCA / IEPFA : The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, organised a “Niveshak Shivir” in Bhubaneswar on 27 March 2026 in collaboration with SEBI and Market Infrastructure Institutions. The camp served as a single‑window facilitation platform to assist investors in resolving issues related to unclaimed dividends, shares, and pending IEPFA claims, including on‑the‑spot KYC and nomination updates. (31.03.2026) Read More »

DGFT Policy support and relaxation measures for the Gem & Jewellery sector under Chapter 4 of the Handbook of Procedures (HBP), 2023. In response to prevailing geopolitical developments in West Asia affecting global trade and logistics, the government has granted a one-time relaxation for specific export and import timelines. For cases where the export, re-export, …

DGFT: Policy support and relaxation measures for the Gem & Jewellery sector under Chapter 4 of the Handbook of Procedures (HBP), 2023. (31.03.2026) Read More »

The Department blocked the assessee’s Input Tax Credit under Rule 86A of the CGST Rules, 2017, which resulted in a negative balance in the Electronic Credit Ledger { [2026] 184 taxmann.com 570 (Punjab & Haryana)}   Facts Assessee was registered under the Central Goods and Services Tax Act, 2017 and was availing Input Tax Credit …

Judicial Corner: The Department blocked the assessee’s Input Tax Credit under Rule 86A of the CGST Rules, 2017, which resulted in a negative balance in the Electronic Credit Ledger(01.04.2026) Read More »

Central Excise : The Ministry of Finance has issued a notification amending Notification No. 04/2019-Central Excise to restrict the applicability of exemption provisions in respect of goods cleared for export. It has been clarified that the exemption shall not apply to export goods, except in cases of exports by Public Sector Oil Companies to Nepal, …

Central Excise : The Ministry of Finance has issued a notification amending Notification No. 04/2019-Central Excise to restrict the applicability of exemption provisions in respect of goods cleared for export.(31.03.2026) Read More »

Central Excise The Ministry of Finance has issued a notification providing conditional exemption from additional duty of excise on specified petroleum products including motor spirit (petrol) and high-speed diesel. The effective rate has been prescribed as Nil for petrol and Rs. 3 per litre for diesel, applicable only in respect of goods cleared for export, …

Central Excise: The Ministry of Finance has issued a notification providing conditional exemption from additional duty of excise on specified petroleum products including motor spirit (petrol) and high-speed diesel.(31.03.2026) Read More »

Customs: The CBIC has issued a notification amending tariff values for specified imported goods including edible oils, brass scrap, gold and silver. The revised tariff values have been notified by substituting Tables 1, 2 and 3 under the existing framework, covering items such as crude and refined palm oil, soybean oil, precious metals and areca …

Customs: The CBIC has issued a notification amending tariff values for specified imported goods including edible oils, brass scrap, gold and silver (31.03.2026) Read More »