https://www.taxtmi.com/circulars?id=69148 Union Budget 2026 proposes amendments to customs, central excise and GST by the Finance Bill, 2026 and accompanying notifications: widespread BCD rate revisions, tariff consolidation/tariffisation into the First Schedule, creation of new tariff items, extensions/lapses of numerous exemptions (many extended to 31 March 2028 or lapsed 31 March 2026), selected specific and ad valorem duty adjustments, addition of medicines and rare diseases to exemption lists, procedural changes to deferred duty payment and baggage rules, amendments to Customs Act (including fishing beyond territorial waters and advance ruling validity), central excise valuation and NCCD adjustments, and GST amendments on discounts, refunds and advance ruling appeal mechanism. en-us Sun, 01 Feb 2026 00:00:00 +0530 Mon, 02 Feb 2026 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69148 Union Budget 2026 proposes amendments to customs, central excise and GST by the Finance Bill, 2026 and accompanying notifications: widespread BCD rate revisions, tariff consolidation/tariffisation into the First Schedule, creation of new tariff items, extensions/lapses of numerous exemptions (many extended to 31 March 2028 or lapsed 31 March 2026), selected specific and ad valorem duty adjustments, addition of medicines and rare diseases to exemption lists, procedural changes to deferred duty payment and baggage rules, amendments to Customs Act (including fishing beyond territorial waters and advance ruling validity), central excise valuation and NCCD adjustments, and GST amendments on discounts, refunds and advance ruling appeal mechanism. Circulars Customs Sun, 01 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69148