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        <title>Tax Updates - Daily Update</title>
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        <description>One stop solution for Direct Taxes and Indirect Taxes and Corporate Laws in India</description>
        <category>Business/Tax/Law/GST/India/Taxation/Policies/Legal/Corporate Tax/Personal Tax/Vat Law/Legal Information/Tax Information/Legal Services/Tax Services</category>
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<title>Requirement of import permit for non-insecticidal use of insecticides - interim facilitation for a period of 90 days</title>
<link>https://www.taxtmi.com/circulars?id=71944</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Interim facilitation applies for 90 days from 1 October 2026: eligible consignments declared for non-insecticidal use may be released on submission of an end-use bond. Importers must also undertake that the goods are imported for non-insecticidal use and will not be used, sold or supplied for insecticidal use, and provide the names and addresses of actual users. The facility covers consignments held solely for lack of a permit but excludes cases involving other violations or specific intelligence of diversion to insecticidal use.]]></description>
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<title>Clarification regarding deletion of Rule 96(10) of the Uttar Pradesh Goods and Services Tax Rules, 2017.</title>
<link>https://www.taxtmi.com/circulars?id=71943</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Deletion of Rule 96(10) of the Uttar Pradesh GST Rules is clarified to apply retrospectively from 23 October 2017, when the restriction took effect. Field formations are advised to deal with pending proceedings concerning Rule 96(10) in accordance with the Supreme Court decision in Goodluck India Ltd. A similar procedure applies, with necessary modifications, to the deletion of Rules 89(4A) and 89(4B). Pending proceedings can continue only where an express provision or other legal arrangement preserves them.]]></description>
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<title>Clarification on Input Tax Credit admissibility to authorised agents appointed by manufacturers for sale of motor vehicles, pursuant to the circular No. GST/2024-25/92/State Tax Dated:27 September, 2024</title>
<link>https://www.taxtmi.com/circulars?id=71942</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Input tax credit on demo vehicles purchased by authorised dealers under the dealer-agency model is not blocked under section 17(5)(a) of the Uttar Pradesh Goods and Services Tax Act, 2017. The earlier clarification denying credit where dealers merely provided marketing or facilitation services and did not sell vehicles on their own account is withdrawn. The restriction applies to passenger motor vehicles with an approved seating capacity of not more than 13 persons, including the driver, subject to exceptions for taxable further supply, passenger transportation and driving training.]]></description>
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<title>Provisional assessment and furnishing of guarantee in respect of imports of "Alloy Steel Chisel/tool and Hydraulic Rock Breaker in fully assembled condition" exported from Malaysia</title>
<link>https://www.taxtmi.com/circulars?id=71940</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Imports into India of Alloy Steel Chisel/tool and Hydraulic Rock Breaker in fully assembled condition exported from Malaysia are subject to provisional assessment pending an anti-circumvention investigation and until the Central Government takes a decision under rule 27(3) of the Customs Tariff anti-dumping rules. Provisional assessment is subject to furnishing a guarantee considered appropriate by the proper customs officer for any anti-dumping duty that may become payable following the designated authority's recommendations and the Central Government's decision. The officer may obtain sufficient guarantees calculated on the CIF value at 162.50% for fully assembled hydraulic rock breakers and 29.21% for alloy steel chisels/tools.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
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<title>Clarification on issues related to provisions of section 17(4) of the Uttar Pradesh Goods and Services Tax Act, 2017</title>
<link>https://www.taxtmi.com/circulars?id=71941</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Section 17(4) is optional for a registration of a banking company or financial institution, including a non-banking financial company, engaged in accepting deposits or extending loans or advances. Once one eligible registration opts, all eligible registrations of the same entity must comply. The fifty percent restriction does not apply to qualifying inputs, input services and capital goods received from another registered person with the same PAN, provided both registrations have opted. Qualifying same-PAN credit is availed, while fifty percent of the remaining eligible credit is availed and the balance permanently reversed.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Clarification on various issues pertaining to the amount paid as pre-deposit as per sub-section (6) of section 107 or sub-section (8) of section 112 of the UPGST Act.</title>
<link>https://www.taxtmi.com/circulars?id=71939</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[The admitted amount covers tax, interest, fine, fee and penalty arising from the challenged order that the taxpayer accepts as payable and does not intend to contest; it must be paid in full before appeal. The pre-deposit is 10% of the remaining tax in dispute, with a further 10% required at the Tribunal stage in addition to the amount paid for the first appeal. Where the Appellate Authority modifies the liability, the Tribunal-stage pre-deposit is calculated on the disputed tax confirmed by that authority.]]></description>
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<category>TaxLaws</category>
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<title>Inviting TRQ Applications under India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) for Calendar Year (CY) 2027</title>
<link>https://www.taxtmi.com/circulars?id=71938</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[For vehicles imported as completely built units and not registered anywhere before importation, the quota quantities are 6,000 for engines not exceeding 1,500 cc; 6,000 for petrol engines over 1,500 cc and up to 3,000 cc or diesel engines over 1,500 cc and up to 2,500 cc; and 12,500 for petrol engines over 3,000 cc or diesel engines over 2,500 cc. A separate quota of 2,750 applies to completely built motor vehicles for transporting goods, excluding electric and hydrogen-fuel vehicles. Imports of the specified vehicles are governed by the arrangements and procedure in Annexure VII of Appendix 2A to the Foreign Trade Policy, 2023.]]></description>
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<title>Applicability of CBIC Circular Nos. 265/11/2026-GST and 266/12/2026-GST regarding Clarifications on GST Classification of Certain Goods and Applicability of GST on Certain Services under the OGST Act, 2017</title>
<link>https://www.taxtmi.com/circulars?id=71931</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Clarifications issued by the Central Board of Indirect Taxes and Customs on goods classification and the applicability of GST to certain goods and services apply mutatis mutandis in implementing the Odisha Goods and Services Tax Act, 2017. Their application is intended to ensure uniformity. Circular No. 265/11/2026-GST concerns classification and GST applicability for supplies of certain goods, while Circular No. 266/12/2026-GST concerns GST applicability to certain services. Difficulties in implementing these clarifications may be brought to the attention of the Commissioner of State Tax, Odisha.]]></description>
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<title>Applicability of CBIC Circular Nos. 258/04/2026-GST to 264/10/2026-GST dated 26.10.2026 regarding Clarifications on Various GST Issues under the OGST Act, 2017</title>
<link>https://www.taxtmi.com/circulars?id=71930</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Central GST clarifications issued on 26 October 2026 apply mutatis mutandis in implementing the Odisha Goods and Services Tax Act, 2017, to promote uniformity. They cover demand, adjudication and appeal proceedings, as well as amounts paid as pre-deposit under sections 107(6) and 112(8) of the Central GST Act. The clarifications also address Input Service Distributors and the provisions of section 17(4) of the Central GST Act. Further topics include input tax credit admissibility for authorised agents appointed by manufacturers for the sale of motor vehicles, receipt of payment for exports of goods or services, and the omission of rule 96(10) of the Central GST Rules.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
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<title>Applicability of CBIC Circular No. 257/03/2026-GST dated 26.10.2026 regarding Guidelines for Handling Applications for GST Registration under the OGST Act, 2017</title>
<link>https://www.taxtmi.com/circulars?id=71929</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[The proper officer may issue an electronic notice in FORM GST REG-03 where an application has not been identified by the system for physical verification of the place of business. Where the system identifies the application for physical verification, or the proper officer considers verification necessary, the notice must be issued within thirty days of submission of the application. Implementation difficulties may be brought to the attention of the Commissioner of State Tax, Odisha.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Clarification on issues related to provisions of section 17(4) of the West Bengal Goods and Services Tax Act, 2017</title>
<link>https://www.taxtmi.com/circulars?id=71928</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Banking and financial institution registrations engaged in accepting deposits or extending loans or advances may opt for the 50% eligible input tax credit method under section 17(4); if one eligible registration opts, all registrations of the same entity engaged in those services must follow it. The exception for supplies from another registered person with the same PAN applies only where that supplier has also opted for section 17(4). Eligible credit is apportioned and reported in GSTR-3B, while credit that may become eligible later is temporarily reversed or, where IMS applies, its document is kept pending.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Clarification on Input Tax Credit admissibility to authorised agents appointed by manufacturers for sale of motor vehicles, pursuant to the Trade Circular No. 24/2024 dated 04.10.2024</title>
<link>https://www.taxtmi.com/circulars?id=71927</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Input tax credit on demo vehicles purchased by authorised dealers operating under the dealer-agency model is not blocked under section 17(5)(a) of the West Bengal Goods and Services Tax Act, 2017. The earlier clarification denying credit because the dealer supplied marketing or facilitation services rather than vehicles on its own account has been withdrawn. In this model, the manufacturer sells new vehicles directly to customers, while the dealer purchases and maintains demo vehicles for demonstration and test drives. The expression "such motor vehicles" is interpreted to include vehicles used to further the supply of similar vehicles, rather than only the particular vehicle sold.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
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        <item>
<title>Revision of limits relating to requirement of underlying exposure for currency derivatives contracts</title>
<link>https://www.taxtmi.com/circulars?id=71919</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Domestic clients and foreign portfolio investors may take long or short positions in Indian rupee currency derivatives without establishing underlying exposure, up to a single USD 5 million equivalent in outstanding notional value, aggregated across all rupee currency pairs and recognised stock exchanges. Foreign portfolio investors must also keep their short positions across all foreign currency-rupee contracts and stock exchanges within USD 5 million. Their long positions above USD 5 million across those contracts require underlying exposure to Indian debt or equity securities, including units of equity or debt mutual funds.]]></description>
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<category>TaxTMI</category>
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<title>Framework for net settlement of funds for transactions undertaken by mutual fund schemes in cash market</title>
<link>https://www.taxtmi.com/circulars?id=71922</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Scheme-level net settlement of funds is permitted for outright cash-market transactions of mutual fund schemes from April 1, 2027, while securities continue to settle gross. Netting is confined to the same scheme and settlement cycle, with no adjustment between schemes or portfolios. Where eligible purchases exceed eligible sales, the scheme must fund the residual obligation. Excess eligible sale proceeds cannot be applied to non-outright purchase obligations, which remain separately funded on a gross basis.]]></description>
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<title>Review of the framework for Accredited Investors</title>
<link>https://www.taxtmi.com/circulars?id=71924</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Manager determinations are valid for three years and recognised by managers in the same group; investment advisers and research analysts may rely on them but cannot determine status independently. A manager outside the group must determine status afresh on onboarding. The manager records and confirms the status, accreditation date and validity in writing. The agency route remains available, and a valid agency certificate must be accepted without fresh determination. Agency certificates also last three years from accreditation; existing certificates retain their unexpired validity. An investor accredited at onboarding retains that status for the scheme's remaining life.]]></description>
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<title>Declaration of Petroleum Wharf Budge Budge Jetty No-03 (PWBB Jetty No-03) as "Customs Area" under Section 8 of Customs Act, 1962 for loading of fly ash for export to Bangladesh through riverine protocol routes</title>
<link>https://www.taxtmi.com/circulars?id=71916</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Petroleum Wharf Budge Budge Jetty No-03 is designated as a customs area under Section 8 of the Customs Act, 1962, exclusively for loading dry fly ash onto barges for export to Bangladesh through the riverine protocol route via Hemnagar LCS. The designation is subject to strict compliance with the Customs Act, Public Notice No. 37/2018 dated 27 April 2018 and other circulars, orders or public notices issued under the Act.]]></description>
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<category>Circulars</category>
<category>TaxLaws</category>
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        <item>
<title>Implementation of ICES Advisory No. 37/2026 and ICES Advisory No. 38/2026 regarding amendment of CSN (SCA), SAM (SAA) and related SCMTR messages</title>
<link>https://www.taxtmi.com/circulars?id=71914</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[The designated customs officer in paragraph F(i) of Public Notice No. 53/2026 (Port), dated 8 October 2026, is changed from the Assistant Commissioner of Customs, Import Noting, Customs (Port), Kolkata, to the Assistant/Deputy Commissioner of Customs, EDI, Customs (Port), Kolkata. The designation concerns implementation of ICES Advisory Nos. 37/2026 and 38/2026 on amendments to CSN (SCA), SAM (SAA) and related SCMTR messages. All other contents of the public notice remain unchanged.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Standard Operating Procedure (SOP) for movement of International Transshipment-FCL containers between Port Terminal and designated CFS at Kandla</title>
<link>https://www.taxtmi.com/circulars?id=71912</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[International transshipment of full-container-load (FCL) containers between the port terminal and designated container freight stations (CFSs) at Kandla is limited to cargo affected by maritime disruptions. For movement to a CFS, shipping lines must file the Import General Manifest using the Transshipment Cargo code, notify the terminal, submit a consolidated container list to Docks Preventive and obtain movement permission for communication to the terminal and CFS. The CFS arranges transport under a Custodian-Cum-Carrier Bond. Containers must be received with original seals intact and stored exclusively in the Customs-approved, physically demarcated area. Opening, examination, stuffing changes, re-containerisation and other reworking are prohibited under this procedure.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Adoption of procedures/practices followed by Jawaharlal Nehru Custom House (JNCH) for bringing uniformity in Customs procedures</title>
<link>https://www.taxtmi.com/circulars?id=71907</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Customs (Preventive), Jamnagar Commissionerate is to follow the procedures and practices adopted by Jawaharlal Nehru Custom House (JNCH), with necessary adaptations, to promote uniformity and consistency in Customs procedures. Departures may be necessary where specific requirements peculiar to the Jamnagar Commissionerate, including infrastructural or geographical constraints, require a different approach. Importers, exporters, Customs brokers, shipping lines, terminal operators, custodians and other stakeholders are requested to bring processes that are not in sync with JNCH's documented processes to the H.Q. Technical Section for examination and appropriate action.]]></description>
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<title>Filing of ATA Carnet documents-Simplified Procedures for ease of doing business</title>
<link>https://www.taxtmi.com/circulars?id=71906</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Temporary admission under ATA Carnet permits duty-free import of goods for display, demonstration or use at fairs, exhibitions and similar events, subject to applicable customs notifications, the ATA Convention and prescribed procedures. No separate Bill of Entry is required; cargo particulars are entered to facilitate closure of the Sea Arrival Manifest. No separate Shipping Bill is required for re-export under ATA Carnet; cargo details and system-generated references support closure of the Sea Departure Manifest. Where goods are not re-exported within the stipulated period, including any permitted extension, the cell takes steps to recover duty and applicable interest.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Implementation of Risk-Based Selective Boarding of Vessels at Minor Ports under Marine  Preventive Wing of Customs Preventive Commissionerate, Mumbai Customs Zone - III</title>
<link>https://www.taxtmi.com/circulars?id=71734</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Concerned port authorities, terminal operators and shipping agents must provide tentative arrival schedules, available vessel particulars and prescribed declarations sufficiently in advance to the Superintendent (Admin), Alibag Division, who determines which vessels require boarding. Entry Inward and Vessel Sail-out Clearance must be granted promptly after filing the required documents, including the Sea Arrival Manifest and Sea Departure Manifest as applicable, and completing prescribed checks. Clearance must not be withheld merely because boarding has not occurred, and cargo operations must not be unnecessarily delayed pending boarding, subject to applicable statutory requirements.]]></description>
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<title>Review of Know Your Client process for individual Person Resident Outside India clients</title>
<link>https://www.taxtmi.com/circulars?id=71905</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Digital onboarding and re-KYC are permitted for individual persons resident outside India, including non-resident Indians, Overseas Citizens of India and foreign nationals, when they are located in a Financial Action Task Force (FATF)-compliant country. Intermediaries may rely on another SEBI-registered intermediary's KYC through KRA records or another financial-sector-regulated entity's KYC through CKYCRR records, but retain ultimate KYC responsibility. In-person verification is required, with video verification used where physical verification is not feasible. Intermediaries must comply with the applicable cybersecurity framework and provide completed KYC information to the KRA within three working days.]]></description>
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<title>Amendment to Chapter 10 of the Handbook of Procedures (HBP), 2023 – Extension of SCOMET Authorisation-based facilitation to eligible 4-Star and 5-Star Status Holders and extension of validity of General Authorisation for Export after Repair in India (GAER)</title>
<link>https://www.taxtmi.com/circulars?id=71890</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[SCOMET authorisation-based facilitation under Chapter 10 of the Handbook of Procedures, 2023 extends with immediate effect to eligible holders of valid 4-Star or 5-Star Status Holder Certificates, subject to other prescribed conditions. For re-export to vendors or OEMs under the General Authorisation for Export after Repair in India (GAER), either certificate meets the certification requirement, but ICP compliance remains mandatory. GAER validity for export of imported SCOMET items after repair is extended from one year to three years from the date of issue. Post-shipment reports must be submitted within 30 days from the end of each quarter, subject to other applicable conditions.]]></description>
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<title>Amendment to Para 8.04(iii) of the Handbook of Procedures (HBP) 2023 - Mechanism for resolving Quality Complaints/Trade Disputes</title>
<link>https://www.taxtmi.com/circulars?id=71904</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[Indian Missions Abroad and the concerned Foreign Trade Divisions must periodically update the action taken and the status of each complaint on the DGFT portal. Updates must continue in a timely manner until the complaint or dispute is resolved, closed or otherwise finally disposed of in accordance with the prescribed procedure. Complainants must be able to access all such updates through the portal.]]></description>
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<title>Compliance with RERA for CDs having real estate projects and disclosure of CIRP at project and office sites of the CD</title>
<link>https://www.taxtmi.com/circulars?id=71903</link>
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<pubDate>Thu, 12 Nov 2026 10:28:05 +0530</pubDate>
<description><![CDATA[During the corporate insolvency resolution process (CIRP) of a corporate debtor with one or more real estate projects, the interim resolution professional (IRP) or resolution professional (RP) must ensure compliance with the applicable Real Estate (Regulation and Development) Act, 2016, and related rules and regulations. The RP may invite the concerned RERA to provide written views on the regulatory compliance, feasibility and implementation of resolution plans under consideration by the committee of creditors. Any views furnished must be placed before the committee and made available to prospective resolution applicants.]]></description>
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<title>TMI Updates - Newsletter dated: November 12, 2026</title>
<link>https://www.taxtmi.com/newsletter?id=11/12/2026</link>
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<description><![CDATA[Newsletter for tax updates and legal information]]></description>
<category>Daily Updates</category>
<category>Tax</category>
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