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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>
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        <ttl>60</ttl>
        <item>
<title>Granting Tax Exemption to Delhi Pollution Control Committee in respect of the specified Income under Section 10(46) of the Income-tax Act, 1961 and section 536(2)(a)/(b) of the Income-tax Act, 2025</title>
<link>https://www.taxtmi.com/notifications?id=146329</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Tax exemption is notified for the Delhi Pollution Control Committee under section 10(46) of the Income-tax Act, 1961, subject to transitional saving provisions under the Income-tax Act, 2025. Exempt income includes government grants and subsidies, statutory consent, licence and application fees, environmental penalties and fines, and interest on surplus-fund deposits or investments. The Committee must not conduct commercial activity, must retain the same activities and nature of specified income, and must file its income-tax return. Breach may lead to penal action and withdrawal of exemption.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Approval under Section 45(4)(b) of the Income Tax Act, 2025 for " Indian Institute of Information Technology Dharwad ".</title>
<link>https://www.taxtmi.com/notifications?id=146334</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Scientific research approval is granted to the Indian Institute of Information Technology Dharwad for the specified tax years, subject to compliance with prescribed conditions. The institution must prepare and deliver the required annual donation statement in Form No. 15 to the designated income-tax systems authority by 31 May following the relevant tax year. It must also issue donors a Form No. 16 certificate stating the amount donated.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Transactions not regarded as transfer. - Central Government notifies transfer of capital asset from Nuclear Power Corporation of India Limited u/s 47(viiaf) of IT Act 1961 and U/s 536(2) of Income-tax Act, 2025</title>
<link>https://www.taxtmi.com/notifications?id=146332</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The Central Government notifies the transfer of a capital asset by Nuclear Power Corporation of India Limited to Anushakti Vidhyut Nigam Limited for non-transfer treatment under section 47(viiaf) of the Income-tax Act, 1961 read with section 536(2) of the Income-tax Act, 2025. The transfer is under a Central Government-approved plan and applies to the year of transfer, Financial Year 2025-26, corresponding to Assessment Year 2026-27. Retrospective application is certified not to adversely affect any person.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Central Government specifies the bond as zero coupon bond</title>
<link>https://www.taxtmi.com/notifications?id=146333</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The Ten Year Zero Coupon Bond of the National Bank for Financing Infrastructure and Development is specified as a zero coupon bond for purposes of the Income-tax Act, 2025. The bond has a ten-year life and must be issued on or before 31 March 2028. The notification prescribes its maturity or redemption amount, discount, and number of bonds, and remains effective only if the bank fulfils requirements under the Income-tax Act, 2025 and the Income-tax Rules, 2026.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Central Government specifies the Cost Inflation Index for the financial years 2026-27</title>
<link>https://www.taxtmi.com/notifications?id=146313</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146313</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The Cost Inflation Index for financial year 2026-27 is specified as 384 under section 72(8)(a) of the Income-tax Act, 2025. It applies to tax year 2026-27 from 1 April 2026 and to subsequent tax years.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Prohibition on Import of Goods Produced Using Forced Labour - Insertion of Para 2.20B and Para 11.64 in the Foreign Trade Policy (FTP) 2023</title>
<link>https://www.taxtmi.com/notifications?id=146293</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The Foreign Trade Policy 2023 prohibits import of goods produced or manufactured wholly or partly through forced labour, effective after expiry of 30 days from publication. Goods may be specified for prohibition by notification on the basis of an enquiry or other material considered appropriate. Enquiries into forced labour are to follow the Handbook of Procedures, 2023. Forced labour means involuntary work or service exacted under menace of a penalty, consistent with the ILO Forced Labour Convention, 1930.]]></description>
<category>Customs</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Agreement and Protocol between the Republic of India and the Government of the Democratic Socialist Republic of Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income</title>
<link>https://www.taxtmi.com/notifications?id=146328</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The India-Sri Lanka tax treaty protocol is notified for implementation and applies in India to income derived in fiscal years beginning on or after 1 April following the calendar year of its entry into force. It strengthens the treaty's anti-abuse framework by adopting a principal purpose test. Treaty benefits may be denied where obtaining the benefit was one of the principal purposes of an arrangement or transaction, unless granting the benefit is consistent with the object and purpose of the relevant treaty provisions. The amended preamble also addresses tax evasion, avoidance and treaty shopping.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Notification Granting Tax Exemption to the Delhi Pollution Control Committee under Section 11 of the Income-tax Act, 2025</title>
<link>https://www.taxtmi.com/notifications?id=146327</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Income-tax exemption is notified for the Delhi Pollution Control Committee in respect of government grants or subsidies, statutory consent, licence and application fees, environmental penalties and fines, and interest on surplus-fund deposits or investments. The exemption applies for tax years 2026-27 and 2027-28, subject to no commercial activity, prescribed return filing, and no change in the Committee's activities or specified income. Non-compliance results in withdrawal of exemption and initiation of proceedings under the Act.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Seeks to amend Notification No. 08/2026-Central Excise, dated the 26th March, 2026 - effective rate of Special Additional Excise Duty on Aviation Turbine Fuel when cleared for exports</title>
<link>https://www.taxtmi.com/notifications?id=146307</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Special Additional Excise Duty on Aviation Turbine Fuel cleared for export is amended by revising the rate specified under the central excise exemption framework to Rs. 14.5 per litre. The revised rate takes effect from 16 July 2026 and is issued under the Central Excise Act, 1944 read with the Finance Act, 2002.]]></description>
<category>Excise</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
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        <item>
<title>Seeks to amend Notification No. 06/2026-Central Excise, dated the 26th March, 2026 - Special Additional Excise Duty on export of petrol and diesel</title>
<link>https://www.taxtmi.com/notifications?id=146306</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Special additional excise duty on exports of petrol and diesel is amended by substituting revised duty entries in the existing notification's table. The revised rates are Rs. 2.5 per litre for petrol and Rs. 15.5 per litre for diesel, effective from 16 July 2026.]]></description>
<category>Excise</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Appointment of Common Adjudicating Authority in the case of M/s. Inditech Trent Retails India Pvt. Ltd. IEC: 0509065597) – Consolidated Adjudication of Multiple Show Cause Notices arising from SVB Investigation Report No. Cus/SVB-DEL/164/2018-19 dated 27.12.2018</title>
<link>https://www.taxtmi.com/notifications?id=146326</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Consolidated adjudication of multiple customs show cause notices concerning Inditex Trent Retail India Pvt. Ltd. is assigned to a Common Adjudicating Authority under the Customs Act, 1962. The Principal Commissioner/Commissioner of Customs (Import), Air Cargo Complex, Sahar, Mumbai is appointed to exercise the powers and discharge the duties of the respective adjudicating authorities for the listed notices arising from an SVB investigation report. The notification centralises the specified adjudicatory functions for those notices before the designated authority.]]></description>
<category>Customs</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of AIR of duty drawback of Gold jewellery and silver jewellery/articles</title>
<link>https://www.taxtmi.com/notifications?id=146319</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Duty drawback rates for gold jewellery and silver jewellery/articles under the all-industry rate schedule are revised through substituted column (4) entries for specified tariff items in Chapter 71. The amendment is made under the Customs Act, the Central Excise Act and the Customs and Central Excise Duties Drawback Rules, 2017, and updates the corresponding entries in the existing duty drawback schedule.]]></description>
<category>Customs</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specify the Form for Notice of closure/ discontinuance of a Vocational Training Centre under Rule 176 of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026.</title>
<link>https://www.taxtmi.com/notifications?id=146318</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Notice of closure or discontinuance of a Vocational Training Centre must be furnished in Form T(1) under Rule 176 of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026. The owner, agent or manager must provide the notice to the Chief Inspector-cum-Facilitator and the relevant Regional Inspector-cum-Facilitator. The form requires centre identification and location details, information on mines served and associated organisation, owner and agent, the date of closure or discontinuance, and the applicable period and reasons, with signature and designation.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specify the Forms for issue of Certificate of Training of Director General of Mines Safety under Rule 173(1) of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026.</title>
<link>https://www.taxtmi.com/notifications?id=146317</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Certificates of training for mine employment are prescribed through Forms T(2) and T(3) under Rule 173(1). Form T(2) certifies completed initial or refresher training and satisfactory assessment for specified mine employment. Form T(3) certifies completed special training, including its subject, and satisfactory assessment for persons employed in coal, metalliferous or oil mines. Both forms record trainee particulars, photograph, signature or thumb impression, training-centre details, and authentication by the Training Officer and the Agent or Manager.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Standard on Staff, Equipment and Other Facilities for Vocational Training Centres under Rule 164 of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026</title>
<link>https://www.taxtmi.com/notifications?id=146312</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Vocational Training Centres for coal, metalliferous and oil mines must provide sector-specific staffing, training equipment, digital training-management systems and physical facilities. Coal and metalliferous mine centres require a Training Officer, designated instructors, practical trainers, demonstration resources, classrooms, work sheds and trainee transport. Oil-mine centres require multidisciplinary instructors, authorised on-the-job trainers and supervisors, blowout prevention models, advanced operational simulators, virtual-reality hazard training and occupational health and safety facilities. Additional staffing and infrastructure apply where centres serve employee numbers above the applicable thresholds.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Standard on Qualification, Training and Experience Requirements for Trainers and Instructors of Vocational Training Centres under Rule 169 of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026</title>
<link>https://www.taxtmi.com/notifications?id=146315</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Vocational Training Centres for coal, metalliferous and oil mines must engage instructors and trainers meeting prescribed qualifications, experience and instructional-training requirements. Mining instructors require relevant competency certification and mine-working experience, with below-ground centres requiring below-ground experience and unrestricted certification. Engineering qualifications or electrical supervisory certification apply to mechanical and electrical instruction. Mandatory instructional training covers training delivery, adult learning, assessment, record keeping, technical and regulatory awareness, hazard identification, risk assessment and personal protective equipment, followed by assessment and periodic refresher training. Trainers must possess operational safety knowledge, practical training aptitude and safety-mindedness.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Standard for Payment of Training Allowance to Trainers and Instructors under Rule 172(1)  (2) of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026</title>
<link>https://www.taxtmi.com/notifications?id=146316</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146316</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Training allowances for trainers and instructors at Vocational Training Centres serving coal, metalliferous and oil mines must be paid in addition to normal wages. Trainers receive a minimum daily allowance for each trainee under their supervision, with no more than two trainees assigned at one time. Non-regular instructors receive a minimum daily allowance for vocational training, proportionately reducible for part-day lectures. More beneficial company allowance schemes prevail over these minimum standards.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Notification for Specifying the qualification and experience required for a whole-time training officer appointed as in-charge of a Vocational Training centre under rule 165(1) of the Occupational Safety, Health and Working Conditions (Central) Rules, 2026</title>
<link>https://www.taxtmi.com/notifications?id=146310</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146310</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Whole-time training officers heading Vocational Training Centres for coal, metalliferous and oil mines must meet mine-specific qualification and experience standards. Coal-mine centres require mine experience and prescribed coal competency certification, with unrestricted certification and below-ground experience for centres serving underground mines. Metalliferous-mine centres require relevant experience and competency certification or mining-engineering qualifications, subject to enhanced requirements for mechanised opencast and below-ground operations. Oil-mine centres require an engineering degree and oilfield experience, with enhanced experience requirements for larger or multi-mine centres.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Notification for Granting Exemption from tax to Specification of Social Protection Fund (SPF) under section 11 of the Income-tax Act, 2025</title>
<link>https://www.taxtmi.com/notifications?id=146311</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146311</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Tax exemption is available to the Social Protection Fund for eligible investments made in India within the notified period, subject to continuing compliance. The fund must file timely returns with an accountant's compliance certificate, report quarterly investment details, and maintain segregated accounts. It must remain regulated under Omani law, use assets only for specified social-protection obligations, avoid borrowings for Indian investments, and not participate in investees' day-to-day operations. Non-compliance with the notification or Schedule V conditions makes the fund ineligible for exemption.]]></description>
<category>Income Tax</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Corrigendum – Notification No. G.S.R. 343(E) dated 8th May, 2026</title>
<link>https://www.taxtmi.com/notifications?id=146309</link>
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<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[The corrigendum corrects wording in the Code on Wages (Central) Rules, 2026. On page 39, line 22, the expression "the Code on Wages" is to be read as "the Wages."]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver</title>
<link>https://www.taxtmi.com/notifications?id=146308</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146308</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Tariff values for specified imported edible oils, brass scrap, gold, silver and areca nuts are revised by substituting the relevant customs valuation tables. The revised framework covers palm oil, palmolein, soybean oil and brass scrap, and fixes values for specified gold and silver forms, with exclusions and conditions relating to certain import modes. It excludes foreign currency coins, silver jewellery and articles of silver from silver in any form, defines gold findings, and retains the tariff value for areca nuts without change. The revised tables take effect from 16 July 2026.]]></description>
<category>Customs</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specify the proforma and fee of application to be submitted by training centres established under any law other than the Occupational Safety, Health and Working Conditions Code, 2020.</title>
<link>https://www.taxtmi.com/notifications?id=146305</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146305</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Training centres established under laws other than the Occupational Safety, Health and Working Conditions Code, 2020 must use the prescribed application proforma to obtain approval for vocational training of mine employees. Applications for fresh approval or renewal must disclose staff, mines served, infrastructure, accommodation, furniture, training aids, training-shop facilities, reference materials, supplies, simulators and fee-payment details. Application fees are graded by the number of mine employees catered to, across separate bands for centres serving up to 2,000, more than 2,000 up to 4,000, and more than 4,000 employees.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specify the conditions to exempt any mine from refresher training during normal working hours on full day release system</title>
<link>https://www.taxtmi.com/notifications?id=146304</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146304</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Oil mines employing persons on an "on-and-off" work pattern may provide refresher training during employees' off periods instead of during normal working hours on a full-day release basis. Where such training occurs beyond normal working hours during an off period, employees must receive compensatory off equal to the training days attended, in addition to applicable training allowances.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Approval for training centre established under any law other than the Occupational Safety, Health and Working Conditions Code, 2020</title>
<link>https://www.taxtmi.com/notifications?id=146303</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146303</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[Training centres established under laws other than the Occupational Safety, Health and Working Conditions Code, 2020 may be approved to impart vocational training to persons employed in mines. Approval is conditional on compliance with prescribed infrastructure and facility standards, including the staff, equipment and other facilities required under the applicable rules for mine vocational training.]]></description>
<category>TaxLaws</category>
<category>Notifications</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Seeks to give effect to the first tranche of tariff concessions under India-UK Comprehensive Economic and Trade Agreement (CETA)</title>
<link>https://www.taxtmi.com/notifications?id=146298</link>
<guid isPermaLink="true">https://www.taxtmi.com/notifications?id=146298</guid>
<pubDate>Sun, 19 Jul 2026 21:36:40 +0530</pubDate>
<description><![CDATA[India-UK Comprehensive Economic and Trade Agreement tariff concessions apply to specified goods imported into India from the United Kingdom at prescribed basic customs duty, AIDC and, where applicable, Health Cess rates. Eligibility depends on proof of United Kingdom origin under applicable rules of origin. Separate treatment applies to specified alcoholic products, including stated CIF-value conditions. A tariff rate quota framework covers specified new, unregistered completely built passenger and goods-transport motor vehicles, with distinct in-quota and out-of-quota duty treatment. TRQ imports require electronic authorisation, transmission to the Indian Customs EDI System and electronic debit.]]></description>
<category>Customs</category>
<category>Notifications</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
<item>
<title>TMI Updates - Newsletter dated: July 19, 2026</title>
<link>https://www.taxtmi.com/newsletter?id=07/19/2026</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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