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        <title>Tax Updates - Daily Update</title>
        <link>https://www.taxtmi.com</link>
        <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>
        <copyright>TaxTMI.Com / MS Knowledge Processing Pvt. Ltd. All rights reserved.</copyright>
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<title>Review of Inclusion of Historical Scenarios in Stress Testing for Commodity Derivatives Segment</title>
<link>https://www.taxtmi.com/circulars?id=70784</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Commodity derivatives stress testing now requires extreme price movements in peak historical return scenarios to be replaced where they exceed a Z-score of 5 rather than 10. Maximum percentage price rises and falls for each underlying over the applicable margin period of risk during the preceding 15 years remain the relevant historical scenarios. Z-scores continue to be calculated using the mean and sigma of returns over that period. The revised methodology applies immediately to recognised clearing corporations in the Core Settlement Guarantee Fund framework.]]></description>
<category>TaxLaws</category>
<category>Circulars</category>
<category>TaxTMI</category>
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<title>Inviting comments/suggestions on Draft Standard Operating Procedure (SOP) for reporting of Inward Remittance Messages pertaining to NBFC Factors.</title>
<link>https://www.taxtmi.com/circulars?id=70782</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[NBFC Factors remitting foreign-currency factoring proceeds to AD-I Banks must use the specified SWIFT message text so that AD-I Banks do not create Inward Remittance Messages for those funds. For Indian-currency funds released after export-bill discounting without a SWIFT message, customers seeking IRMs must approach the relevant Factor. Exporters may view NBFC Factor-linked remittance data on the DGFT portal and self-certify Electronic Bank Realisation Certificates by matching remittance details with invoices or shipping bills.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
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<title>Amendment to SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 (“ILMDS Regulations”)</title>
<link>https://www.taxtmi.com/circulars?id=70766</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Privately placed municipal debt securities may have a face value of Rs. One Lakh or Rs. Ten Thousand; lower-face-value securities require fixed maturity and cannot have structured obligations. Pooled finance vehicles and special purpose vehicles must maintain a two-step escrow arrangement, including interest payment and sinking fund accounts, and retain one year's interest obligation in the interest payment account. Listed municipalities must submit half-yearly unaudited results within sixty days and annual audited results with the audit report within ninety days.]]></description>
<category>TaxLaws</category>
<category>Circulars</category>
<category>TaxTMI</category>
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<title>Advisory against 2 Bhutanese firms as per para 8.07 (d) of Foreign Trade Policy- 2023</title>
<link>https://www.taxtmi.com/circulars?id=70764</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[DGFT advises heightened vigilance in dealings with M/s Legoy Powersports, Thimphu, and M/s Druk A-Z Store, Thimphu, following unresolved complaints and lack of substantive cooperation. Trade stakeholders must conduct comprehensive due diligence, assess transaction risks, sensitise trade participants, and consider the concerns when processing applications, extending credit support, providing trade facilitation, or issuing certifications. Adverse experiences, payment-related issues, contractual disputes, and other relevant information should be promptly reported to DGFT.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Review and re-allocation of allocated Export Quota of Wheat under HS codes 10011900 and 10019910</title>
<link>https://www.taxtmi.com/circulars?id=70746</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Wheat export quota allocations are reviewed according to utilization and requests for additional quantities or surrender. Exporters must provide a Chartered Accountant-certified utilization certificate, shipping bill details, and supporting justification, export contracts, or purchase orders. Additional allocation requests also require a corresponding online amendment application. Further allocation may be considered where more than half of the authorized quantity has been used, while unused quantities under lower-utilization authorizations may enter a common pool for redistribution. Delayed or incomplete submissions may result in reallocation and exclusion from future restricted export authorizations.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Issuance of Public Notice regarding change of name of the CFS - From M/s. APM Terminals India Private Limited to M/s. Maersk Logistics  Services India Private Limited</title>
<link>https://www.taxtmi.com/circulars?id=70739</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[The Customs Area and custodianship status of the container freight station previously operating as M/s. APM Terminals India Private Limited continue under its changed name, M/s. Maersk Logistics  Services India Private Limited. The revised name must be used in Customs Department documentation. The existing Customs Area designation and custodianship for import and export cargo remain unchanged, and the custodian continues to bear responsibility for pending litigation, statutory obligations, tax disputes, show-cause notices, and arrears under its former name.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Implementation of MeitY Notification S.O. 4182(E) regarding extension of implementation timeline for compliance of IS 18112:2022 for Television Sets under the Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2021</title>
<link>https://www.taxtmi.com/circulars?id=70734</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Compulsory registration compliance for Television Sets under IS 18112:2022 under the Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2021 has been deferred. The implementation date has been extended from 26 July 2026 to 26 January 2027. Customs formations are to sensitise officers regarding the revised timeline and report any implementation difficulties to the Board.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
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<title>Institutional Transition of Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) for the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan</title>
<link>https://www.taxtmi.com/circulars?id=70733</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Interest Subvention Support under the Export Promotion Mission-Niryat Protsahan is transitioned from RBI to EXIM Bank as implementing agency from 1 April 2026. EXIM Bank will manage operationalisation, portal workflows, verification and claim settlement. Lending institutions must pass subvention benefits upfront to eligible MSME exporters and submit externally audited reimbursement claims to EXIM Bank. EXIM Bank will verify IEC-specific annual ceilings, process monthly reimbursements and submit consolidated fund claims. Supplementary or additional claims for the January-March 2026 quarter will continue to be processed by RBI.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Issuance of Public Notice in respect of M/s. Sattva CFS and Logistics Pvt Ltd. CFS</title>
<link>https://www.taxtmi.com/circulars?id=70731</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Customs custodianship is conferred on M/s. Sattva CFS and Logistics Pvt Ltd. for imported goods landed at Kamarajar Port and received at its container freight station until clearance for home consumption, warehousing, or transhipment. It is also appointed custodian of export cargo received at its premises until export. The custodian must comply with the Customs Act, the Handling of Cargo in Customs Areas Regulations, 2009, and applicable instructions.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
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<title>Issuance of Public Notice in respect of M/s. All Cargo Terminals Ltd. CFS - Declaration of 'Customs Area' under Section 8(b) of the Customs Act, 1962 for handling Import and Export Cargo pertaining to M/s. Kamarajar Port, Ennore</title>
<link>https://www.taxtmi.com/circulars?id=70730</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[The premises of M/s. All Cargo Terminals Ltd. at Ernavoor are declared a Customs Area under section 8(b) of the Customs Act, 1962, for imported full-container-load and less-than-container-load cargo arriving from Kamarajar Port, excluding passenger unaccompanied baggage, and for export cargo until export. Cargo handling must comply with the Handling of Cargo in Customs Areas Regulations, 2009 and applicable customs public notices.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Issuance of Public Notice in respect of M/s. All Cargo Terminals Ltd. CFS - Appointment of Custodian under Section 45(1) of the Customs Act, 1962 for goods imported/exported through Kamarajar Port, Ennore</title>
<link>https://www.taxtmi.com/circulars?id=70729</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[All Cargo Terminals Ltd. is appointed as custodian under Section 45(1) of the Customs Act, 1962 for imported goods landed at Kamarajar Port and received at its container freight station until clearance for home consumption, warehousing or transhipment. It is also custodian of export cargo received at the facility until export. The custodian must comply with Section 45, the Handling of Cargo in Customs Areas Regulations, 2009, and applicable instructions.]]></description>
<category>Customs</category>
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<title>Issuance of Public Notice in respect of M/s. Chandra CFS and Terminal Operators Pvt. Ltd. - Declaration of 'Customs Area' under Section 8(b) of the Customs Act, 1962 for handling Import and Export Cargo pertaining to M/s. Kamarajar Port, Ennore</title>
<link>https://www.taxtmi.com/circulars?id=70728</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Customs area status is declared for the premises of M/s. Chandra CFS and Terminal Operators Pvt. Ltd. under section 8(b) of the Customs Act, 1962. The area may handle imported FCL and LCL cargo, other than passenger unaccompanied baggage, arriving from Kamarajar Port, and export cargo until export. Cargo handling must comply with the Handling of Cargo in Customs Areas Regulations, 2009 and applicable public notices.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Issuance of Public Notice in respect of M/s.Chandra CFS and Terminal Operators Pvt. Ltd. - Appointment of Custodian under Section 45(1) of the Customs Act, 1962 for goods imported/exported through Kamarajar Port, Ennore</title>
<link>https://www.taxtmi.com/circulars?id=70727</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[M/s. Chandra CFS and Terminal Operators Pvt. Ltd. is appointed as custodian of imported goods landed at Kamarajar Port, Ennore and received at its container freight station, until clearance for home consumption, warehousing, or transhipment. It is also custodian of export cargo brought into its premises until export from the port. The entity must comply with Section 45 of the Customs Act, the Handling of Cargo in Customs Areas Regulations, 2009, and applicable instructions.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Standard Operating Procedure (SOP) for clearance of imported goods through Foreign Post Offices under the Postal Import Regulations, 2025</title>
<link>https://www.taxtmi.com/circulars?id=70726</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Personal postal imports through Foreign Post Offices are processed through the FPO Import Application using risk-based assessment and system-based facilitation. Postal authorities must electronically present imported articles on arrival. Physical examination is limited to risk-selected or otherwise identified articles, with reasons recorded for examination of facilitated articles. Additional documents may be sought through a specific and consolidated Document Call Letter. Clearance is issued after assessment and Customs formalities, and delivery is prohibited until clearance is authorised and applicable Customs duty is paid or realised.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Amendment to the Standard Operating Procedure (SOP) prescribed under Public Notice No. 47/2026 dated 17.04.2026 for movement of International Transshipment-FCL (ITP-FCL) containers between Port Terminals and designated CFSs</title>
<link>https://www.taxtmi.com/circulars?id=70725</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[International Transshipment-FCL container movement between Port Terminals and designated CFSs no longer requires physical verification by the Preventive Officer at the terminal gate. Port Terminal Operators must verify container numbers and seal integrity, using the EIR copy for exit movements. Customs control continues through the Custodian-cum-Carrier Bond. Container-number or seal discrepancies must be reported immediately to the jurisdictional AC/DC, and further processing requires permission of the proper officer. Other SOP requirements and Customs Act checks remain applicable.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Appointment of M/s Gateway Terminals India Pvt. Ltd. (GTI) as Customs Cargo Service Provider (CCSP) for the additional area allocated</title>
<link>https://www.taxtmi.com/circulars?id=70724</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[The additional land parcel allotted to M/s Gateway Terminals India Pvt. Ltd. is included in its existing Customs Area, and the operator is appointed custodian and Customs Cargo Service Provider for that area. The area may be used for authorised customs-related handling of EXIM cargo under the applicable licence. The provider must comply with customs and cargo-handling requirements, maintain prescribed security and infrastructure, and obtain prior approval for changes in layout, boundary or use. Approval remains co-terminus with the land licence unless earlier modified, withdrawn or cancelled.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Operationalisation of the Inventory-based Cross-border E-Commerce Facilitation Framework under the Handbook of Procedures, 2023</title>
<link>https://www.taxtmi.com/circulars?id=70689</link>
<guid isPermaLink="true">https://www.taxtmi.com/circulars?id=70689</guid>
<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[The Inventory-based Cross-border E-Commerce Facilitation Framework requires Exporters-on-Record to register through ANF 9A, maintain linked digital inventory records, ensure seller-declared goods match inventory, and secure destination-country compliance before export. Sellers must receive specified inventory visibility and timely seller-attributable export benefits. The framework regulates returned consignments, requires independent compliance certification and five-year record preservation, and provides a DGFT-based dispute-resolution process while preserving micro and small enterprise seller rights. Registration changes must be notified within 30 days, and non-compliance or false information may attract regulatory and legal action.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Inclusion of eligible DPIIT-Recognized Start-ups under "Source from India" on the Trade Connect ePlatform</title>
<link>https://www.taxtmi.com/circulars?id=70723</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[DPIIT-recognized start-ups may register on the "Source from India" feature of the Trade Connect ePlatform and receive a unique start-up badge where applicable eligibility conditions are met. A special exception allows such start-ups to register despite not meeting general exporter eligibility requirements, provided they hold an active IEC and are not included in the Denied Entity List. Users must link their Trade Connect accounts to eligible IECs, submit export details and declarations, and obtain approval before their microsites become publicly visible.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Extension of Last Date for Submission of TRQ Applications under the India-United Kingdom Comprehensive Economic and Trade Agreement (CETA) for CY 2026</title>
<link>https://www.taxtmi.com/circulars?id=70698</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Online applications for allocation of Tariff Rate Quota under the India-United Kingdom Comprehensive Economic and Trade Agreement for calendar year 2026 may be submitted up to 9 August 2026. The extension follows representations from trade and industry. All other terms and conditions governing Tariff Rate Quota allocation remain unchanged.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
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<title>Review of Foreign Direct Investment (FDI) policy on E-commerce Sector</title>
<link>https://www.taxtmi.com/circulars?id=70692</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Foreign direct investment policy permits an e-commerce entity to use an inventory-based e-commerce model exclusively to export goods or products manufactured or produced in India. Such exports must comply with the applicable Foreign Trade Policy, Handbook of Procedures, and foreign-exchange regulations governing exports. Existing restrictions on business-to-consumer and inventory-based e-commerce do not apply to this export-only model from the date of the relevant foreign-exchange notification.]]></description>
<category>FEMA</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Availability of License-wise Voluntary Duty Payment Details for processing of Export Obligation Discharge Certificate (EODC) applications under Advance Authorisation (AA) and Export Promotion Capital Goods (EPCG) Schemes</title>
<link>https://www.taxtmi.com/circulars?id=70693</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Voluntary duty payment data received from Customs/ICEGATE is integrated into the DGFT portal for digital processing of Export Obligation Discharge Certificate applications under the Advance Authorisation and Export Promotion Capital Goods schemes. Only portal-displayed payment details are recognised for EODC processing and closure. Authorisation holders should provide correct licence and IEC details, verify displayed payments before applying, and report discrepancies through the helpdesk. Regional Authorities must rely on portal-displayed records for payments made on or after August 1, 2026.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Instruction regarding Coordination with State Mining Authorities for sharing information relating to illegal mining and transportation of minerals</title>
<link>https://www.taxtmi.com/circulars?id=70683</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[CGST Zones must coordinate with State Mining Authorities to obtain and analyse information on illegal mining, mineral transportation, seizures, mining-lease action, excess extraction and related violations for potential GST implications. Each Zone must appoint a Nodal Officer, establish periodic information sharing, initiate action where warranted, disseminate intelligence to relevant formations, and hold periodic review meetings to address operational issues.]]></description>
<category>GST</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<title>Procedures and documents required for export consignments of Drugs  Pharmaceuticals</title>
<link>https://www.taxtmi.com/circulars?id=70675</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Manufacturer exporters of drugs other than unapproved, new or banned drugs must upload prescribed export documents through e-Sanchit. Non-manufacturer exporters must obtain an ADC/CDSCO export NOC after submission and verification of relevant documents, on which Customs ordinarily relies. For unapproved, new or banned drugs manufactured solely for export, a CDSCO Zonal Office NOC through SUGAM must precede the State Licensing Authority manufacturing licence, and shipping bill details must match the NOC. A limited interim relaxation permits post facto CDSCO NOCs until 30 September 2026 where specified approvals are valid.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Extension of timeline for enrolment with PaRRVA as specified in SEBI Circular No. HO/38/14/(4)2026-MIRSD-POD/I/10557/2026 dated April 29, 2026</title>
<link>https://www.taxtmi.com/circulars?id=70665</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Enrolment with the Past Risk and Return Verification Agency (PaRRVA) for registered Investment Advisers and Research Analysts intending to communicate certified past performance data to clients, including prospective clients, has been extended to September 3, 2026. Investment Advisers and Research Analysts wishing to make such communications must enrol with PaRRVA by the extended deadline. The extension is intended to facilitate smooth implementation of the framework.]]></description>
<category>TaxLaws</category>
<category>Circulars</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Inviting TRQ Applications under India-Oman Comprehensive Economic Partnership Agreement (CEPA) for Financial Year (FY) 2026-27</title>
<link>https://www.taxtmi.com/circulars?id=70662</link>
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<pubDate>Thu, 13 Aug 2026 21:13:49 +0530</pubDate>
<description><![CDATA[Tariff Rate Quota allocation under the India-Oman Comprehensive Economic Partnership Agreement is opened for specified imports for financial year 2026-27, subject to product-specific quota limits and the procedure in Annexure-VIII of Appendix 2A of the Foreign Trade Policy, 2023. Marble-block applicants must submit a Chartered Engineer certificate on processing capacity, machinery and prior production; marble-product applicants must provide a valid pre-purchase agreement with an Oman supplier; and PET-flake applicants must furnish a Ministry of Environment, Forest and Climate Change no-objection certificate.]]></description>
<category>Customs</category>
<category>Circulars</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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<item>
<title>TMI Updates - Newsletter dated: August 13, 2026</title>
<link>https://www.taxtmi.com/newsletter?id=08/13/2026</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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