https://www.taxtmi.com/article/detailed?id=15822 Budget 2026 amends GST valuation by removing the pre agreement and invoice linkage requirement for post supply discounts, subject to ITC reversal via credit notes; Section 34 is amended to explicitly cover such credit notes. Provisional refunds are extended to inverted duty structures and export refund thresholds are removed. A temporary appellate mechanism is provided for conflicting advance rulings. Customs reforms expand jurisdiction for fishing activities, define Indian flagged fishing vessels, permit five year advance rulings, simplify warehouse transfers, revise tariffs, and introduce extensive notifications and circulars modernising baggage rules, deferred duty payment, automation and SWIFT 2.0 integration. en-us Fri, 06 Feb 2026 09:26:54 +0530 Fri, 06 Feb 2026 09:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15822 Budget 2026 amends GST valuation by removing the pre agreement and invoice linkage requirement for post supply discounts, subject to ITC reversal via credit notes; Section 34 is amended to explicitly cover such credit notes. Provisional refunds are extended to inverted duty structures and export refund thresholds are removed. A temporary appellate mechanism is provided for conflicting advance rulings. Customs reforms expand jurisdiction for fishing activities, define Indian flagged fishing vessels, permit five year advance rulings, simplify warehouse transfers, revise tariffs, and introduce extensive notifications and circulars modernising baggage rules, deferred duty payment, automation and SWIFT 2.0 integration. Articles Budget - Tax Proposals Fri, 06 Feb 2026 09:26:54 +0530 https://www.taxtmi.com/article/detailed?id=15822