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    Tata Sons reappoints Chandrasekaran, but Tata Trusts call the vote 'illegal', setting up boardroom battle
    International Hardware Fair India 2026 to Bring the Tools and Hardware Industry Together from 23–25 October in New Delhi
    86400 Expands Financial Services Technology Portfolio with Three New Launches
    Ministry of Finance to organise a Conference of State Finance Ministers and Finance Secretaries on “Financing India’s Journey towards Viksit Bhara...
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    CBIC commemorates 10 years of India’s Authorised Economic Operator (AEO) Programme; Outlines way forward and reaffirms commitment to trusted trade
    His passport deposited in court in ED case, Gujarat man secures another with fake papers
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September 17, 2026
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Board reappointment validity depends on shareholder-nominated director consent, directorship quorum concerns, and leadership continuity amid listing compliance.
Tata Sons' board approved by majority vote the Executive Chairman's reappointment for a further five-year term after he reconsidered an earlier decision not to seek renewal. Tata Trusts contest the validity of the resolution, maintaining that the Articles of Association require affirmative votes from both Trust-nominated directors and that a dissenting vote renders a chairmanship resolution legally void. They also cite the accepted succession process and unresolved directorship status arising from a general meeting lacking quorum.
September 17, 2026
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Buyer-seller engagement supports sourcing and export-market opportunities for tools and hardware businesses through an international trade fair.
International Hardware Fair India 2026 is scheduled for 23-25 October 2026 at Bharat Mandapam, New Delhi, as a trade platform for the tools and hardware sector. Organised by Koelnmesse in association with the Federation of Indian Export Organisations, it is intended to facilitate product discovery, sourcing activity and exploration of domestic and international markets. Its Reverse Buyer-Seller Meet will bring hosted international buyers together with Indian manufacturers and suppliers for direct discussions on product presentations, buyer requirements and export-market opportunities.
September 17, 2026
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Financial services technology interoperability drives new card, digital banking and UPI platforms for banks, fintechs and consumers.
86400 has expanded its financial-services technology portfolio through CardsXT as a Service, a UPI app experience and IBMB, extending its activities across card-programme infrastructure, consumer-facing digital payments and digital banking. CardsXT is intended to let banks and fintechs build, launch and manage card programmes through an integrated offering, with flexibility to develop and scale card products while reducing card-lifecycle technology complexity. The UPI app experience provides a platform developed by 86400 for a more seamless consumer UPI payments experience.
September 17, 2026
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Intergovernmental fiscal coordination will guide deliberations on macroeconomic priorities, agricultural transformation, energy transition, growth measurement, and technology-enabled governance.
The thematic programme covers the macroeconomic outlook, financing agricultural transformation, and financing the energy transition. Background material addresses macroeconomic pathways, private financing, implications of GST 2.0 for States, agricultural markets and marketing, agricultural resilience and sustainable resource use, renewable energy and transmission assets, and carbon capture, utilisation and storage. Further sessions address measurement of growth outcomes and the contribution of new-age technology to good governance.
September 17, 2026
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GST-compliant festive planning helps apparel businesses protect input tax credit, manage price thresholds, inventory, cash flow and peak-season operations.
GST-sensitive festive planning for apparel businesses requires early procurement, phased inventory, supplier reorder commitments and separate stock strategies for the post-Diwali wedding season. Pricing and costing require assessment of the revised GST structure for readymade garments and GST-rate reductions affecting man-made fibres and yarns. Proper purchase documentation is important for protecting input tax credit during high-volume festive transactions. Cash-flow planning, credit limits, return policies, retail staffing, digital campaigns and weekly sell-through monitoring support replenishment and pricing decisions.
September 17, 2026
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Competitive Tender Conditions: allegations question replacement of a public-sector power project with terms allegedly favouring a single supplier.
Allegations of tender tailoring concern the replacement of a proposed UJVN-THDC public-sector thermal project with long-term procurement of 1,320 MW from a private generating plant. Congress alleges that 84 of 86 tender conditions were revised after the public-sector venture was abandoned, producing terms suited to an existing Korba expansion acquired by Adani Power through insolvency proceedings. The objections include plant-location flexibility, transmission costs for supply to Uttarakhand, and a 75% fixed-charge ceiling, which are alleged to narrow competition and shift long-term costs to consumers.
September 17, 2026
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Upper-layer NBFC listing requirements drive Tata Sons' listing process and proposed leadership renewal, subject to shareholder approval.
RBI's refusal to permit Tata Sons to surrender its core investment company registration revives the prospect of a public listing. Classified as an upper-layer non-banking financial company, Tata Sons is subject to a listing requirement whose deadline expired while its deregistration request was under consideration. Its board has agreed to advance the listing process, subject to annual general meeting approval. Any legal challenge to the refusal of deregistration may be pursued by Tata Sons itself rather than directly by the Tata Trusts.
September 17, 2026
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Mandatory listing obligations for upper-layer non-banking financial companies drive leadership continuity planning after deregistration is rejected.
Rejection of Tata Sons' request to deregister as a core investment company leaves it subject to the mandatory listing obligation arising from its upper-layer non-banking financial company classification. The board's majority support for N. Chandrasekaran's third term is linked to maintaining leadership continuity for prospective investors if a public listing proceeds.
September 17, 2026
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Gulfood partnership expands market access for food exporters through global buyer engagement and broader inclusion of emerging enterprises.
APEDA and InD Events Dubai have entered into a memorandum of understanding to support India's participation as Official Partner Country at Gulfood 2027. The partnership is directed at increasing global visibility for India's agricultural and processed food products, connecting Indian exporters with international buyers, and expanding market-access and business-engagement opportunities. Participation will bring together exporters, farmer producer organisations, MSMEs, startups, commodity boards and government institutions through product showcases, curated business-to-business meetings, conferences and industry engagements.
September 16, 2026
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Foreign exchange pressure drives rupee depreciation as a stronger dollar, capital outflows, and elevated crude prices weigh on markets.
Rupee depreciation continued for a seventh consecutive session, with the currency closing weaker against the US dollar amid overseas dollar strength and foreign fund outflows. Elevated crude oil prices and rising US Treasury yields increased pressure by raising importers' demand for dollars, while positive domestic equity markets limited the decline. Dollar strength reflected expectations of a US interest-rate increase, while domestic equity gains contrasted with net foreign institutional investor equity sales.
September 16, 2026
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Perpetual lease termination and public-premises eviction challenge turns on privity, statutory jurisdiction bar, and interim protection.
Challenges concern termination of Delhi Gymkhana Club's perpetual lease and a show-cause notice seeking eviction. The Government maintains that a member who is not party or privy to the bilateral lease has no personal estate in the land or right to restrain contractual resumption. It also contends that the Public Premises (Eviction of Unauthorised Occupants) Act bars civil-court eviction proceedings and injunctions against estate-officer action. The challengers seek a stay or status quo, arguing that the notice prematurely assumes valid lease termination.
September 16, 2026
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Lawful vehicle repossession requires contractual notice, due process, and safeguards against force, stealth, harassment, and arbitrary recovery methods.
Vehicle repossession by banks and non-banking financial companies must be lawful and fair despite contractual self-help repossession rights. Lenders and recovery agents must not use force, stealth, intimidation, harassment, or arbitrary methods. Legally valid repossession clauses must provide notice periods, lawful possession procedures, a final repayment opportunity, and sale or auction processes. Financial institutions must ensure recovery-agent compliance and prevent unlawful dispossession of borrowers from hypothecated vehicles.
September 16, 2026
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Credit rating transparency strengthens public enterprise access to debt markets through disclosure, risk assessment, and capital structure optimisation.
Objective and independent credit ratings measure CPSE financial strength, risk, credibility, and public-sector creditworthiness, supporting benchmarking and cost-effective access to global and domestic debt markets. Engagement between CPSE leadership and rating agencies focuses on rating methodologies, risk pricing, debt-market dynamics, transparent disclosures, and capital-structure optimisation. Such engagement is directed toward improving credit assessment, investor information, regulatory compliance, funding access at competitive rates, and market-facing disclosure practices.
September 16, 2026
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Raw-material security and import-duty reform are urged to strengthen ferro-alloy competitiveness amid expanding steel demand.
Ferro-alloy competitiveness depends on raw-material security, commercially viable domestic mineral access and lower input costs as steel demand expands. Faster exploration and development of manganese, chrome and other critical minerals, supported by mine-auction frameworks that encourage operational production, can reduce import dependence. Measures sought include zero import duties on unavailable-grade raw materials for noble alloys, competitive electricity costs and rationalised electricity levies. Cleaner energy, efficient furnaces, automation and improved raw-material utilisation are also necessary to reduce costs and emissions.
September 16, 2026
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Free trade agreement tariff liberalisation expands market access through phased concessions, services mobility pathways, safeguards, and investment commitments.
The free trade agreement grants duty-free access across all New Zealand tariff lines for Indian exports and provides Indian tariff liberalisation for a substantial share of New Zealand goods, while preserving exclusions for sensitive dairy, agricultural, industrial and other specified products. It provides duty-free entry, phased levy reductions, and quota-based concessions with minimum import price and other safeguards for identified goods. New Zealand also commits market access for Indian service suppliers and establishes skilled-employment, student-mobility and post-study work visa pathways.
September 16, 2026
Show AI Summary
Expedited criminal trials involving real-estate directors require consolidated case details and safeguards against homebuyer inconvenience.
Supreme Court sought case details from the Enforcement Directorate and Delhi Police to facilitate expeditious criminal prosecution of Unitech directors without causing inconvenience to homebuyers. Protection of purchasers and completion of stalled housing projects remain central concerns. Project revival measures include RERA registration exemption for specified projects to enable stalled homebuyer loan disbursals, scrutiny of loan accounts classified as non-performing, and authority for the Centre-appointed board to raise outstanding funds, sell inventory, and monetise unencumbered assets for completion of housing units.
September 16, 2026
Show AI Summary
RCMC exemption for eligible small-value exports reduces upfront registration requirements while preserving compliance for larger consignments.
RCMC or Certificate of Registration is not required, wherever otherwise mandated under the Foreign Trade Policy, 2023, for export consignments with a Free-on-Board value of up to Rs. 3 lakh. Export consignments exceeding that threshold continue to require a valid RCMC or Certificate of Registration wherever applicable. The exemption reduces the initial registration burden for MSMEs, artisans, small businesses, first-time exporters and occasional exporters undertaking eligible small-value exports, including through Postal, Courier, e-commerce and other emerging channels.
September 16, 2026
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Methamphetamine trafficking enforcement enabled coordinated vehicle interceptions, contraband seizures, and arrests under narcotic drug control law.
Intelligence-led narcotics enforcement led to the interception of four trucks in Assam and Tripura suspected of carrying methamphetamine tablets concealed in vehicle cabins. A total of 231.8 kg of suspected methamphetamine tablets, along with all four vehicles, was seized under the NDPS Act, and three persons were arrested. The action involved coordinated surveillance, interception and searches directed at an alleged drug-smuggling syndicate.
September 16, 2026
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Authorised Economic Operator programme advances trusted trade through risk-based customs facilitation, streamlined EMI documentation, and stakeholder-led reforms.
India's Authorised Economic Operator Programme promotes voluntary compliance, supply-chain security, risk-based customs administration and predictable cross-border movement of goods. Compliant trade and logistics entities may receive simplified customs procedures and risk-based facilitation. Proposed process reforms include uniform operating procedures, applicant checklists, single-deficiency processing, time-bound applications, clearer financial-solvency requirements, and strengthened client relationship and validation arrangements. Documentation under the Eligible Manufacturer Importer Scheme has been reduced, supporting lower compliance burdens and a pathway towards higher AEO tiers.
September 16, 2026
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Fraudulent procurement of a second passport allegedly involved false identity records, a false loss report, and overseas travel.
Alleged fraudulent procurement of a second passport arose after a passport had been surrendered in money-laundering-related proceedings. Authorities allege that the individual falsely reported the passport as lost and obtained another passport through false information, including an incorrect address in identity documentation and supporting records. The second passport was allegedly used for international travel. Criminal proceedings concern alleged forged documents, false representations and passport-related offences under the Bharatiya Nyaya Sanhita and the Passports Act.

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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