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    15th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held during 6-9 October 2026
    Commerce Secretary Shri Rajesh Agrawal Highlights Need for Rigorous Legal Thinking at CTIL’s 9th Anniversary Celebration
    Release of Draft Guideline for Compilation Gross State Domestic Product (GSDP) Estimates by Expenditure Approach with Base Year 2022-23
    NLMC Invites Bids for Monetisation of 5.119-Acre Prime Freehold Land Parcel of HIL (India) Limited in New Delhi
    Union Finance Minister Smt. Nirmala Sitharaman on visit to Singapore for high-level meetings with Singapore Leadership and CEOs of business firms in S...
    Recommendations of the 57th Meeting of the GST Council
    India Began Building Bridges When the World Was Building Walls: Union Minister of Commerce and Industry Shri Piyush Goyal
    CCI approves acquisition of sole control over Omega-Meyer Ltd and Meyer Organics by BCPE Wellbeing Holdco Two Ltd. and Integral Investments Asia IV Lt...
    CCI approves proposed acquisition of 100% shareholding of Vishavari Tollway Ltd and nine SPVs operating road assets in India by Concessoc 41 SAS
    CCI approves acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Pvt. Holdings (4) Inc.
    CCI approves proposed combination related to internal restructuring of the JSW Group
    NLMC Organises Mock E-Auction Training Ahead of RINL Land E-Auction
    Central Bureau of Narcotics (CBN) conducts Jan Samvad at Malana in Kullu District to create preventive drug awareness and to promote development
    Adopted Joint Statement after the India-UK Financial Markets Dialogue 2026, held in London
    Commerce Secretary Shri Rajesh Agrawal Calls for Greater Utilisation of India-EFTA TEPA Opportunities
    Commerce and Industry Minister Shri Piyush Goyal Holds Meetings with Leading U.S. Companies in New York to Strengthen India–U.S. Trade and Investmen...
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee October 5 to 7, 2026
    An Approach Paper on Expanding the scope and coverage for the Index of Services Production
    DRI cracks down on cross-border gold smuggling along Indo-Bangladesh border; seizes over 8.3 kg foreign-origin gold; 4 arrested
    Secretary, DFS, Shri Sanjay Lohiya chairs review meeting on progress of Financial Inclusion Schemes with senior executives of Public Sector and Privat...
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October 9, 2026
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AITIGA review negotiations face time-bound subcommittee deliverables to resolve policy issues and modernise trade arrangements.
The AITIGA Joint Committee directed its sub-committees to accelerate pending review chapters through firm, time-bound deliverables and close coordination. Work covers legal and institutional issues, national treatment and market access, and rules of origin. ASEAN and India reaffirmed their commitment to resolve outstanding policy issues, deepen economic integration, and modernise the Agreement into a balanced and mutually beneficial framework strengthening bilateral trade.
October 9, 2026
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International investment law requires balance between investment protection and States' regulatory authority amid sustainability and digital trade challenges.
International trade and investment law are increasingly shaped by sustainability-linked trade measures and digital trade and require rigorous legal analysis. CTIL supports trade capacity through legal analysis for free trade agreement negotiations, WTO processes, dispute settlement and institutional knowledge-building. International investment law increasingly recognises States' regulatory authority alongside investment protection, with institutionalisation, legitimacy and the balance between investment and public power identified as central concerns. Research and capacity-building also address climate, sustainability, supply chains, artificial intelligence and other emerging trade-policy areas.
October 9, 2026
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Expenditure-side GSDP compilation framework standardises regional estimates through common methods, local data sources, and allocation indicators.
Draft guidelines establish a uniform framework for compiling expenditure-side Gross State Domestic Product estimates using base year 2022-23. They cover data sources, estimation procedures and methodologies for private and government consumption, gross fixed capital formation, inventory changes, valuables and net exports. State-specific data and allocation indicators are preferred, while recommended allocation methods support consistent estimates where direct subnational data are unavailable. The approach is intended to harmonise estimation practices and strengthen subnational national accounts capacity.
October 9, 2026
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Freehold land monetisation proceeds through a two-stage electronic sale requiring technical bids and an Earnest Money Deposit.
Monetisation of a 5.119-acre freehold industrial land parcel owned by HIL (India) Limited at Najafgarh Industrial Area, New Delhi, is facilitated through an E-Tender followed by E-Auction. Eligible bidders must complete registration, submit technical bids, and furnish the required Earnest Money Deposit or Bank Guarantee by the stipulated deadline. Sale is subject to "as is where is", "as is what is", "whatever there is" and no-recourse or no-complaint conditions. The exact land extent is to be determined through a joint survey with the successful bidder.
October 9, 2026
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India-Singapore investment cooperation advances through investor engagement, financial connectivity, capital-market participation, and support for identified investment opportunities.
India-Singapore investment cooperation is to be strengthened through engagements with political leadership, business representatives and global institutional investors. Discussions cover trade and investment, digital financial connectivity, capital markets, taxation, advanced manufacturing, skilling and aviation. The National Investment and Infrastructure Fund and GIFT City are identified as channels for Singaporean capital participation through investment vehicles and funds. The Ministry of Finance will facilitate connections between investors, Indian companies, financial institutions and State Governments for identified investment opportunities.
October 8, 2026
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GST process reforms propose automated registration, refunds and return corrections while easing enforcement, credit access and trade compliance.
GST process reforms propose automated registration, registration amendments and cancellation, return reconciliation, input tax credit correction, and phased system-based refund processing. Standardised demand notices and adjudication safeguards are proposed alongside lower penalties, capped penalty-only appeal pre-deposits, withdrawal of arrest powers and narrowed prosecution provisions. Input tax credit reforms would expand refunds and remove specified blocked-credit restrictions, while export measures would broaden zero-rated and export-of-services eligibility. Goods interception would be intelligence-based and authorised, with further compliance relief for small taxpayers and targeted classification, exemption and reverse-charge measures.
October 8, 2026
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Free trade agreement utilisation enables MSME market access, rules-of-origin awareness, export participation, and foreign investment opportunities while protecting sensitive sectors.
Free Trade Agreements are positioned to preserve sensitive domestic interests, particularly agriculture, fisheries and MSMEs, while widening market access for agricultural, marine, engineering, precision and electronic products and facilitating foreign investment. Proposed FTA utilisation desks across State Councils would assist MSMEs in using preferential arrangements, understanding rules of origin and market-access opportunities, participating in delegations and exhibitions, and presenting products and technologies to overseas markets.
October 8, 2026
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Sole-control acquisition of nutraceutical and pharmaceutical businesses receives competition approval for Bain Capital-managed investment funds.
Competition Commission of India approval permits BCPE Wellbeing Holdco Two Limited and Integral Investments Asia IV Limited, funds managed or advised by Bain Capital, to acquire sole control over Omega-Meyer Limited and Meyer Organics Private Limited. The target businesses provide nutraceuticals globally and in India, while Meyer Organics Private Limited also produces and supplies certain over-the-counter and prescription finished-dose pharmaceuticals in India.
October 8, 2026
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Highway asset acquisition approval covers full ownership transfer of a tollway operator and road-project special purpose vehicles.
Competition Commission of India approval covers the acquisition by Concessoc 41 SAS of the entire shareholding in Vishavari Tollway Private Limited and nine special purpose vehicles. The target entities operate designated national-highway stretches in Andhra Pradesh, Odisha and Gujarat, while Vishavari Tollway Private Limited provides operation and maintenance and engineering, procurement and construction services for those highway assets.
October 8, 2026
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Competition clearance for hospitality share acquisition permits investment in a company owning and developing hotel and serviced apartment assets.
Competition Commission of India approved the proposed combination involving CPP Investment Board Private Holdings (4) Inc.'s acquisition of certain shareholding in Prestige Hospitality Ventures Limited. The target is an Indian public limited company within the Prestige group and owns and develops hospitality assets, including hotels and serviced apartments. The acquirer is incorporated in Canada and is managed by Canada Pension Plan Investment Board.
October 8, 2026
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Internal group restructuring receives merger-control approval for amalgamating an integrated steel producer into the group's steel manufacturer.
Merger-control approval covers the proposed internal JSW Group restructuring through amalgamation of BMM Ispat Limited into JSW Steel Limited. The amalgamation would convert the group's majority interest in BMM into full ownership and is intended to enhance operational, financial and organisational efficiencies through economies of scale, resource pooling and capital rationalisation. BMM is commercially integrated in the group's supply chain through intra-group sales and procurements.
October 7, 2026
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Transparent land e-auction procedures support bidder preparedness through mock training, registration and earnest-money requirements for phased asset monetisation.
National Land Monetization Corporation is facilitating a two-phase e-tender-cum-e-auction of 459 encumbrance-free land parcels of Rashtriya Ispat Nigam Limited through the RailTel E-Nivida e-Procurement Platform. Participation requires registration, fulfilment of prescribed requirements and submission of earnest money deposit within the applicable deadlines. Physical and online mock e-auction training familiarises prospective bidders with the bidding interface and participation procedure. Investor outreach provides information on plot details, eligibility requirements, registration and bidding conditions.
October 7, 2026
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Preventive narcotics outreach promotes drug awareness, community participation, and sustainable livelihood alternatives to discourage illicit cannabis cultivation.
Preventive outreach in Malana village promoted drug awareness, youth engagement, community participation and alternative development in an area associated with illicit cannabis cultivation. Residents were sensitised to the harmful effects of cannabis, charas and hashish oil consumption and encouraged to pursue sustainable alternatives, including apiculture, animal husbandry, dairy activities and tourism. Community discussions addressed livelihood barriers, ecological concerns, and commitments to refrain from drug consumption and discourage illicit cannabis cultivation.
October 7, 2026
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Cross-border financial cooperation guides work on market access, sustainable finance, fintech safeguards, and payment interoperability.
India-UK financial-markets cooperation covers capital-market connectivity, cross-border listings, investor access and development of GIFT IFSC as an international financial centre. Engagement also addresses insurance, pensions, asset management, sustainable-finance disclosures and cross-border investment. Fintech cooperation includes digital public infrastructure, central bank digital currencies, data exchange, responsible artificial intelligence, fraud prevention, cyber security and operational resilience. Cross-border payments work prioritises reduced frictions, transparency, efficiency and interoperability of electronic payment infrastructures.
October 7, 2026
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Investment commitments and tariff predictability under India-EFTA TEPA support market access, supply-chain planning, and long-term bilateral trade.
India-EFTA TEPA establishes reciprocal market-access commitments, with EFTA coverage extending to most Indian exports and full coverage for non-agricultural products. Tariff predictability is intended to support investment planning, supply-chain development and longer-term business partnerships. Agricultural opportunities may arise where duties have been reduced to zero. Article 7.1 includes an investment commitment under which the EFTA States are to aim to increase foreign direct investment into India and facilitate employment generation within specified implementation periods.
October 7, 2026
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Foreign investment engagement focuses on expanded partnerships across financial services, manufacturing, insurance, and emerging technologies in India.
India-U.S. trade and investment engagement was pursued through discussions with leading United States companies on expanding investment, partnerships and commercial operations in India. Financial-sector discussions addressed private equity, asset and wealth management, insurance, and financial services, including prospective engagement aligned with the objective of insurance access for all by 2047.
October 7, 2026
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Policy repo rate recalibration responds to inflationary pressures, adopting calibrated tightening while future actions depend on growth and inflation conditions.
Monetary policy is recalibrated through an increase in the policy repo rate under the liquidity adjustment facility by 25 basis points to 5.50 per cent. The monetary policy stance shifts to calibrated tightening, indicating that near-term rate reductions are excluded and that subsequent action may consist of a rate increase or a pause, depending on evolving conditions and the outlook. Further rate action depends on growth-inflation developments, underlying inflation, broadening price pressures, second-round effects and demand impulses.
October 7, 2026
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Index of Services Production expansion proposes broader service-sector coverage through education, health, residential care, public administration and defence.
The Index of Services Production is proposed to expand beyond its initial formal-sector coverage, which relies on high-frequency administrative data and GST outward-supplies data. Education, Human Health and Residential Care, and Public Administration and Defence are proposed for inclusion. Their incorporation would increase coverage of services-sector Gross Value Added and support aggregation of sub-sectoral indices into a unified measure of short-term services-sector movements. Stakeholder views are invited on the proposed methodology.
October 7, 2026
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Cross-border gold smuggling enforcement addresses concealed foreign-origin gold transport through customs seizure, arrest, and investigation of organised networks.
Intelligence-led customs enforcement targeted cross-border gold smuggling through surveillance and interception of four persons travelling from a border route. Personal searches recovered foreign-origin gold biscuits concealed in specially tailored cloth waist belts. Seventy-two gold biscuits were seized under relevant provisions of the Customs Act, 1962, and the four persons were arrested. Investigation continues into organised networks and wider syndicates involved in the movement and distribution of smuggled gold.
October 6, 2026
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Financial inclusion drives digital lending, insurance claim awareness, portal enrolment, and banking access for marginalised sections.
Banks were urged to expand brick-and-mortar branches and banking correspondent coverage in unbanked villages, strengthen digital outreach, and implement end-to-end digital loan processing. Working-capital lending for micro-enterprises through UPI-linked credit lines and credit cards was highlighted. Banks were also directed to increase awareness of insurance claim eligibility, exercise care in claim-related grievance handling, and enrol new PMJJBY and PMSBY beneficiaries through the Jan Suraksha portal.

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Advisory on Revamped Search HSN Code Functionality

January 7, 2022

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Advisory on Revamped Search HSN Code Functionality

The Search HSN functionality was earlier given as a measure of facilitation to the taxpayer to search the Technical Description of any particular HSN code of any goods and/or service used in the Trade, vis-à-vis HSN description in the Customs Tariff Act, 1975. However, there are many instances of goods and services where descriptions commonly used in Trade in common parlance i.e. Trade description differ from the Technical descriptions otherwise provided in the HSN descriptions of the Customs Tariff Act, 1975 and the abovesaid functionality. Thus finding the corresponding HSN codes vis a vis a common description was a bit challenging for the taxpayer. (Note: Technical descriptions imply those descriptions which pertain to each and every HSN Code while Trade descriptions imply those descriptions which are used in common parlance by the trade/ businesses for various goods and services.)

To ameliorate this challenge and to make the functionality user friendly, ‘Search HSN’ functionality has been revamped by linking it with e-invoice database and Artificial Intelligence tools in the following ways:

1. The Search HSN Code functionality has been enhanced, where the taxpayers can search the HSN code and the applicable Technical description through common parlance / trade description of the goods/ services as they are known in the Trade. It helps the taxpayers to search HSN Code by providing description/ part of a description.

2. The facility is available at both pre-login and post login. Taxpayers/users can access the same by the following navigation:

Home>Services>User services>Search HSN Code

3. Taxpayer can search HSN/ Description using either of the two options which are provided as radio buttons: (i) HSN and (ii) Description; either of which can be selected as per the requirement.

i) Search of description on the basis of HSN:

a. Taxpayer can search for any HSN Code pertaining to any goods and/or services.

b. Only numbers are allowed to be entered in the search box if search is based on HSN.

c. On entering of HSN in search box, five nearest possible descriptions would be shown in the auto-suggested dropdown relating to the said HSN.

d. The taxpayers can then select the suggestion that may be most relevant to their case.

Note:

i. It may be noted that the drop down will be shown only when minimum three characters are entered in the search box, and;

ii. the maximum number of characters allowed in search box is eight.

ii) Search of HSN on the basis of Trade/ Commercial/ Technical Description:

a. Taxpayer can search by way of entering both technical and/or trade descriptions of the requisite goods or services in the search box.

b. Once taxpayers select the ‘Description’ option, they are then required to select whether they want to search for goods or services.

c. On entering of description in the search box, five nearest possible HSN codes with descriptions will be shown in the auto-suggested dropdown relating to the said description.

d. The taxpayer can then select the relevant HSN and description pair.

Note: It may be noted that:

i) The drop down will be shown only when minimum three characters are entered in the search box.

ii) The maximum number of characters allowed in search box is till 40.

iii) Only Alphanumeric characters are allowed (0-9, A-Z).

iv) Special characters are NOT allowed in search box.

v) Taxpayers can also use a combination of words to search for the relevant goods or service.

4. In the search results, the taxpayer will be able to view the top three most commonly used trade descriptions of the said goods or services in the database along with their respective technical descriptions.

5. Taxpayers can also view other HSN Codes related to the search. For instance, in case a 4-digit HSN code is searched, the related 6-digit and 8-digit HSN code will also be shown under “Other related HSN code(s)” in the resultant table. Similarly, in case a 6-digit HSN code is searched, the related 8-digit HSN code will also be shown. However, in case an 8-digit HSN code is searched, related HSN will not be shown in table as 8-digit code in itself is the most accurate. The related HSN Codes displayed in the resultant table are hyperlinked and taxpayer can click on the same to view further details of the said HSN.

6. In case taxpayers are not able to find HSN of any goods or services, then they can raise a ticket on GST Self-Service Portal (https://selfservice.gstsystem.in). Further, taxpayers can also download the list of the entire list of HSN Codes along with their technical descriptions in excel format by clicking on link ‘Download HSN in Excel Format’ available at bottom of page.

Note: It may be noted that

i) The revamped Search HSN tool algorithm is based on Artificial Intelligence and Machine Language linked with e-invoice declaration database. Stated differently, the Search tool matches the queried HSN or description with those used by other taxpayers at the time of generating e-invoice. The facility therefore provides prevailing practice of HSN/ description used by IRN-generating taxpayers.

ii) The Technical Description and corresponding Commonly used Trade description displayed in the output of the ‘Search HSN’ functionality is as per the HSN description in the Customs Tariff Act, 1975 corresponding to the Trade description which are widely used by trade in general and are as per the declarations made by taxpayers at the IRN portal and the output displayed is dependent on the input provided by the user. These descriptions, as part of Search HSN facility, have been provided purely as a measure of Taxpayers' facilitation and are not legally binding on the GST department.

iii) Though all efforts have been made to ensure the accuracy and currency of the Search HSN facility, the same should not be construed as a statement of law or used for any legal purposes or any litigation as a legal and binding advice from the GST department/GSTN. GSTN hereby expressly disowns and repudiates any claims or liabilities (including but not limited to any third party claim or liability, of any nature, whatsoever) in relation to the accuracy, completeness, usefulness of any information available through this facility, and against any intended purposes (of any kind whatsoever) by use thereof, by the taxpayer (whether used by taxpayer(s) directly or indirectly).

Thanking you,

Team GSTN.

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Acts Income Tax