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    15th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held during 6-9 October 2026
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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.
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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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GST Rates - HSN Code - GST FAQs

August 3, 2017

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1 .   What is the HSN code and GST rate for lac or shellac bangles?

Lac or shellac bangles are classifiable under heading 7117 and attract 3% GST.

2.   What is the HSN code and GST rate for kulfi?

Kulfi is classifiable under heading 2105 and attracts 18% GST.

3.   What is the HSN code for Solar Panel Mounting Structure and its GST rate?

•   Structures of iron or steel fall under heading 7308 and structures of aluminium fall under heading 7610 and attract 18% GST.

•   Solar Panel Mounting Structure, depending on the metal they are made of, will fall under 7308 or 7610 and attract 18% GST.

4.   What is the HSN code for Idli Dosa Batter (Wet Flour) and its GST rate?

Idli Dosa Batter (Wet Flour) [as food mixes] falls under heading 2106 and attracts 18% GST.

5.   What is the HSN code for Maize Seeds and its GST rate?

Maize [of seed quality] fall under heading 1005 and attract Nil GST.

6.   What is the HSN code for Saree and dhoti and its GST rate?

Sarees and dhoti are classifiable under different headings

Constituent fibre

Description

HSN code

GST Rate

Silk

Woven fabrics of silk sarees

5007

5%

Cotton

Of not more than 200 gsm

5208

5%

Of more than 200 gsm

5209

5%

Manmade filaments yarn

Of any gsm

5407 or 5408

5%

 

7.   What is the HSN code and GST rate for Filters or Water Purifiers?

Filters or Water Purifiers fall under heading 8421 and attract 18% GST.

8.   What is the HSN code for Organic Surface Active Agents and its GST rate?

  • Organic surface-active products or preparations or agents fall under heading 3401 or 3402.
  • Soaps; organic surface active products and preparations for use and soaps, in form of bars, cakes, moulded pieces or shapes falling under heading 3401 [except 3401 30] attract 18% GST.
  • Other organic surface active products and preparations falling under sub-heading 3401 30 and organic surface active agents and preparations falling under heading 3402 attract 28% GST.

9.   What is the GST rate on Rakhi ?

  • Puja samagri, including kalava (raksha sutra) attracts Nil GST.
  • Rakhi, which is in form of kalava [raksha sutra] will thus attract Nil GST.
  • Any other rakhi would be classified as per its constituent materials and attract GST accordingly.

10.   What is the GST rate on Nail Polish?

Nail Polish [whether in large quantities say 50 to 100 litres or in retail packs] falls under heading 3304 and attracts 28% GST

11.   What is the GST rate and HSN code of Wet Dates?

Wet dates fall under heading 0804 and attract 12% GST.

12.   What is the HSN code and GST rate for Pet Food?

Dog or cat foods fall under heading 2309 and attracts 18% GST under the residual entry S. No. 453.

13.   What is the classification and GST rate for sale of Export Incentives Licences like MEIS, SEIS and IEIS?

MEIS etc. fall under heading 4907 and attract 12% GST.

 

14.   What is the HSN Code and GST rate for a Fabric 1.2 MT cut for pant and 2.5 MT cut for a shirt?

Specified fabrics attract 5% GST, whether or not in form of cut pieces.

15.   What is the classification of Hand Decorative Figurines and Hand Decorative Artefacts made of marble powder, stone and unsaturated resin?

Articles of marble [including those made of marble powder, stone and unsaturated resin] fall under heading 6802 and attract  28% GST

16.   What will be the GST rate for Arecanut/ Betel nut?

•   Fresh areca nut / betel nuts fall under heading 0802 and attract Nil GST.

Dried areca nut / betel nuts fall under heading 0802 and  attract 5% GST

17.   What is the HSN code and GST rates for Cotton Seed oil cake?

 

 

  • Cotton seed oil cakes for use as aquatic feed including shrimp feed and prawn feed, poultry feed & cattle feed attract Nil GST.
  • Cotton seed oil cakes for other uses attract 5% GST.

18.  What is the GST rate for Portable and Mobile Toilets?

Prefabricated buildings, including portable and mobile toilets, fall under heading 9406 and attract 18% GST.

19.   What is the GST Compensation Cess rate on imported Coal?

Imported coal will attract GST compensation cess @ ₹ 400 per tonne.

20.   What is the HSN code and GST rates for Battery for mobile handsets?

Battery for mobile handsets falls under heading 8506 and attracts 28% GST.

21.   What is the HSN code and GST rate for tamarind?

  • Tamarind(fresh) falls under 0810 and attract Nil GST.
  • Tamarind (dry) falls under 0813 and attract 12% GST.

22.   What is the HSN code and GST rate for tamarind kernel?

Tamarind kernel falls under heading 1207 and attracts Nil GST.

23.   What is the HSN code and GST rate for tamarind kernel powder?

Tamarind kernel powder falls under heading 1302, and attracts 18% GST.

24.  What is the GST rate on Hair Rubber Bands?

Hair rubber bands fall under heading 4016 and attract 28% GST

25.  What is HSN code and GST rate for Khari and hard Butters?

Khari and hard butters fall under heading 1905 and attract 18% GST

26.   What is the GST rate and HSN code of Khoya/Mawa?

Khoya/mawa being concentrated milk fall under 0402 and attracts 5% GST.

27.   What will be the GST rate for printed paperboard mono carton/Dabbi of a pharmaceutical company and what will be the GST rate for a non-corrugated cotton and corrugated carton?

  • Cartons, boxes and cases of corrugated paper or paper board, fall under heading 4819 and attract 12% GST
  • Folding cartons, boxes and cases, of non-corrugated paper and paperboard, falling under heading 4819 attract 18% GST under the residual entry S. No. 453

28.  Tobacco leaves falling under heading 2401 attracts 5% GST on reverse charge basis in respect of supply by an agriculturist. What is the meaning of tobacco leaves?

For GST rate of 5% tobacco leaves means leaves of tobacco as such or broken tobacco leaves or tobacco leaves stems

29.   What is the HSN code and the GST rate for Isagol seeds?

  • Isabgol seeds fall under heading 1211.
  • Fresh isabgol seeds attract Nil GST.
  • Dried of frozen Isabgol seeds attract 5% GST

30.  What is the HSN code and the GST rate for Isabgol husk?

Isabgol husk falls 1211 and attracts 5% GST.

31.   What is HSN code and GST rate of copra and dried coconut?

  • Coconuts, fresh or dried, whether or not shelled or peeled fall under heading 0801 and attract Nil GST. As per the HSN Explanatory Notes, the heading excludes copra, the dried flesh of coconut used for the expression of coconut oil (1203)
  • Copra falls under heading 1203 and attracts 5% GST

32.  Footwear having a retail sale price not exceeding ₹ 500 per pair [provided that such retail sale price is indelibly marked or embossed on the footwear itself] attracts 5% GST. Does the retail sale price referred to above include the GST.

As per the Legal Metrology (Packaged Commodities) Rules, 2011, retail sale price [RSP] means the maximum price at which the commodity in packaged form may be sold to the consumer and is inclusive of all taxes.

  • Thus retail sale price declared on the package is inclusive of GST.
  • GST for footwear will be 5% if the RSP does not exceed ₹ 500 per pair. The GST rate will be 18% if the RSP exceeds ₹ 500 per pair.
  • GST however, will be payable on the transaction value.

33. Readymade garments of sale value not exceeding ₹ 1000 per piece attract 5% GST. Readymade garments of sale value exceeding ₹ 1000 per piece attract 12% GST. How does a supplier determine what rate to charge on readymade garments?

  • The sale value referred to in the notification refers to the transaction value and not the retail sale price of such readymade garments
  • That is, if a wholesaler supplies readymade garments for a transaction value of ₹ 950 per piece to a retailer, the GST chargeable on such readymade garments will be 5%
  • However, if the retailer sells such readymade garments for ₹ 1100 per piece, the GST chargeable on such readymade garment will be 12%

34.   What is the GST rate on chocolate ‘sandesh’ Bengali misti?

Sandesh, whether or not containing chocolate, attract 5% GST.

Topics

Acts Income Tax