https://www.taxtmi.com/article/detailed?id=15817 The Finance Bill, 2026 extends the Customs Act to Indian flagged fishing vessels beyond territorial waters, defines that term, and creates Section 56A to allow duty free importation of fish harvested beyond territorial waters and to treat fish landed at foreign ports as exports, subject to rules and Board regulations governing entries, declarations, custody, examination, assessment, clearance, transit and transhipment. It also extends advance ruling validity to five years, deems penalties paid under recovery to be a charge for non payment of duty upon determination, removes the need for prior officer permission to transfer warehoused goods between warehouses, and revises postal/courier regulatory wording regarding custody and examination. en-us Thu, 05 Feb 2026 09:17:41 +0530 Thu, 05 Feb 2026 09:17:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15817 The Finance Bill, 2026 extends the Customs Act to Indian flagged fishing vessels beyond territorial waters, defines that term, and creates Section 56A to allow duty free importation of fish harvested beyond territorial waters and to treat fish landed at foreign ports as exports, subject to rules and Board regulations governing entries, declarations, custody, examination, assessment, clearance, transit and transhipment. It also extends advance ruling validity to five years, deems penalties paid under recovery to be a charge for non payment of duty upon determination, removes the need for prior officer permission to transfer warehoused goods between warehouses, and revises postal/courier regulatory wording regarding custody and examination. Articles Budget - Tax Proposals Thu, 05 Feb 2026 09:17:41 +0530 https://www.taxtmi.com/article/detailed?id=15817