Daily Updates

Customs: Validity of customs facilitation measures introduced due to disruptions in maritime routes arising from the closure of the Strait of Hormuz has been further extended till 30.06.2026. All existing facilities, conditions and procedural relaxations under earlier circulars shall continue unchanged. (Circular No. 25/2026-Customs dated 14.05.26)

Customs: Effective 01.07.2026, importers will be required to declare hazardous cargo at item level in Bills of Entry. System-based identification, officer alerts and RMS enhancements will support quicker identification and facilitate expeditious customs clearance of notified hazardous goods. (Circular No. 24/2026-Customs dated 14.05.26)

Reliance on MVAT data for TRAN-1 credit impermissible as sec. 140 jurisdiction is compartmentalized {Gunjan Surgical and Scientific Co. vs. State of Maharashtra [2026] 186 taxmann.com 249 (Bombay)} Facts Petitioner had claimed transitional input tax credit under Section 140 of the CGST/MGST Acts through TRAN-1. Department reduced/disallowed part of the credit alleging mismatch in MVAT …

Judicial Corner: Reliance on MVAT data for TRAN-1 credit impermissible as sec. 140 jurisdiction is compartmentalized {Gunjan Surgical and Scientific Co. vs. State of Maharashtra [2026] 186 taxmann.com 249 (Bombay)} (14.05.2026) Read More »

DGFT: Clarifications have been issued under the Export Promotion Mission regarding interest subvention support on export credit. Exporters can now generate UIN after loan disbursal for eligible loans disbursed from 02.01.2026. (Trade Notice No. 03/2026-27 dated 13.05.26)

Customs: Amendments have been made in Table III of the customs exemption notification dated 30.04.2022 by revising the applicable rate and condition entries against Serial No. 12. The revised provisions will come into effect from 13.05.2026. (Notification No. 18/2026-Customs dated 12.05.26

Customs: Customs duty rate under the concessional scheme for specified gold and silver imports covered under Notification dated 08.05.2000 has been increased from 4.35% to 10%, effective from 13.05.2026. (Notification No. 17/2026-Customs dated 12.05.26

Customs: Increase in customs duty and changes in concessional duty rates on specified precious metals and related goods will be effective from 13.05.2026. The amendments also introduce revised concessional duty structures and conditions for spent catalyst, jewellery findings, coins, and precious metal imports. (Notification No. 16/2026-Customs dated 12.05.26)

Customs: Customs duty on specified precious metals and related goods under Chapter 71 has been increased from 5% to 10% effective 13.05.2026. Further, 10% duty has been imposed on spent catalyst or ash containing precious metals till 31.03.2027. (Notification No. 15/2026-Customs dated 12.05.26)

DGFT: Handbook of Procedures provisions have been amended to include India–UK CETA under the list of FTAs and to permit exporters to obtain Certificates of Origin through self-declaration, in addition to issuance through authorised agencies. (Public Notice No. 09/2026-27 dated 11.05.26)

DGFT: A list of authorised agencies has been notified for issuance of Preferential Certificates of Origin under the India–UK Comprehensive Economic and Trade Agreement (CETA), covering all products and specified sector-specific exports. (Public Notice No. 10/2026-27 dated 11.05.26)

DGFT: Fourteen new Pre-Shipment Inspection Agencies have been enlisted under Appendix-2G with immediate effect, while two existing agencies have been permitted to add additional inspection instruments for issuance of PSICs through the DGFT portal. (Public Notice No. 08 / 2026-27 dated 08.05.2026)

Customs: Tariff values for edible oils, brass scrap, gold, silver, and areca nuts have been revised under the Customs Valuation framework. Most tariff values remain unchanged, with revised applicability effective from 09.05.2026. (Notification No.  45/2026-CUSTOMS (N.T.) dated 08.05.2026)

Customs: Importers claiming exemption from safeguard duty on specified non-alloy and alloy steel flat products are now required to declare prescribed INFO Codes in the Single Window Table of the Bill of Entry for eligible imports based on CIF value, country of origin, or excluded product categories. (Circular No. 23/2026-Customs dated 07.05.2026)

Customs: The Samrang–Rangia–Tamulpur–Dimakuchi motorable road has been notified as an approved land customs route for movement of goods between India and Bhutan with effect from 06.05.2026. (Notification No. 43/2026-Customs (N.T.) dated 06.05.2026)

DGFT Validity of ad-hoc norms ratified by the Norms Committee for Advance Authorisations has been extended till 31.03.2028, enabling continued usage of such norms, improving certainty, and reducing compliance burden for exporters (Public Notice No.07/2026-27 dated 05.05.26)

Binding Effect of Non-Compete Clauses on Transferee in Liquidation { GH Energy vs. Flovel Hydro Technologies Company Appeal (AT) No. 87 of 2024 dated April 8, 2026 } Facts: In the course of a court-monitored liquidation, shares of a company were transferred to a new purchaser. The original shareholder was bound by non-compete obligations under …

Judicial Corner: Binding Effect of Non-Compete Clauses on Transferee in Liquidation { GH Energy vs. Flovel Hydro Technologies Company Appeal (AT) No. 87 of 2024 dated April 8, 2026 }(04.05.2026) Read More »

DGFT Four new SIONs (A-3698 to A-3701) have been notified for chemical and allied products, enabling direct issuance of Advance Authorisations by RAs, eliminating case-specific approvals and ensuring faster, uniform processing. (Public Notice No. 6/2026-27 dated 04.05.2026)

Customs: CBIC has extended validity of Circular Nos. 09, 10, 12, 15, 19 and 21/2026-Customs under Section 143AA due to Strait of Hormuz disruptions. Facilities remain effective till 15 May 2026; conditions unchanged. (Circular No.22 dated 04.05.2026)

GST Amended Notification 9/2025-CTR aligning HSN 2202 beverage classifications with Finance Act 2026. Corresponding changes have been made in Schedule I (2.5%) and Schedule III (20%) to appropriately map the new HSN codes for various categories of beverages.. Amendment effective from 01-05-2026. (Notification No. 01/2026- Central Tax (Rate) dated 30.04.26)  

Composite SCN for multiple years under sec. 74 held invalid as each tax period requires separate notice {Shivhare Retail (P.) Ltd. vs. Commissioner, CGST & Central Excise,  Nagpur [2026] 185 taxmann.com 503 (Bombay)}   Facts GST department issued a single Show Cause Notice under Section 74 (fraud/suppression cases). This SCN covered multiple financial years/tax periods …

Judicial Corner: Composite SCN for multiple years under sec. 74 held invalid as each tax period requires separate notice {Shivhare Retail (P.) Ltd. vs. Commissioner, CGST & Central Excise,  Nagpur [2026] 185 taxmann.com 503 (Bombay)}(27.04.2026) Read More »