Just a moment...

⚠✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
    6. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----❯
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ---- ❯
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    NewsBills
    AMENDMENTS IN THE CGST ACT, 2017
    NewsBills
    AMENDMENTS IN THE IGST ACT, 2017
    Case LawsGST
    Refund of unutilised ITC - inverted duty structure - Denial on Input services - Contradictory Judgem...
    Case LawsIncome Tax
    Introduction of concept of mediation and Advance Ruling System for Residents to reduce tax litigatio...
    NotificationsCustoms
    Supersession of regulation - Transportation of Goods (Through Foreign Territory), Regulations 1965
    NewsBills
    Retrospective Amendments of GST rate notifications
    NewsBills
    AMENDMENTS IN THE Goods and Services Tax (Compensation to States) ACT, 2017:
    NewsBills
    AMENDMENTS IN THE UTGST ACT 2017:
    NewsBills
    AMENDMENTS IN THE IGST ACT 2017:
    NewsBills
    AMENDMENTS IN THE CGST ACT 2017:
    NewsBills
    EXCISE AMENDMENT IN THE SEVENTH SCHEDULE TO THE FINANCE ACT, 2001* [Clause [145] of the Finance Bill...
    NewsBills
    Other Miscellaneous changes pertaining to Anti-Dumping Duty/Countervailing Duty
    NewsBills
    Exemption from Social Welfare Surcharge hitherto available on certain items falling chapter 84, 85 a...
    NewsBills
    Social Welfare Surcharge is being exempted on following items.
    NewsBills
    OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS' TECHNICAL CHANGES)
    NewsBills
    IMPOSITION OF HEALTH CESS ON IMPORT OF CERTAIN ITEMS
    NewsBills
    Customs duty exemptions which have been granted through certain other stand-alone notifications have...
    NewsBills
    Review of concessional rates of BCD prescribed in notification no. 50/2017 - Customs dated 30.62017:...
    NewsBills
    OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS
    NewsBills
    AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
❮
❯
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Open Link
    Notes
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    NewsBills
    AMENDMENTS IN THE CGST ACT, 2017
    Show AI Summary
    CGST amendments tighten taxation of related party supplies and revise returns, credit, interest, enforcement and appeal rules.
    Finance Bill, 2021 amends the CGST Act to: tax supplies between non individuals and members retrospectively; limit input tax credit to supplier reported outward supplies; replace mandatory audited reconciliation and account audits with self certified annual returns; charge interest on net cash liability retrospectively; separate seizure/confiscation from tax recovery; make provisional attachment valid through proceedings and one year after order; condition certain appeals on payment of part of penalty; clarify self assessed tax includes outward supplies omitted from returns; expand information calling powers while preserving a hearing requirement.
    NewsBills
    AMENDMENTS IN THE IGST ACT, 2017
    Show AI Summary
    Zero-rating of supplies to SEZs limited to authorised operations; zero-rating on payment restricted to notified taxpayers, refund linked to forex.
    Amendments narrow zero-rated supplies to Special Economic Zone developers or units to transactions for authorised operations; restrict zero-rating on payment of integrated tax to notified classes of taxpayers or notified supplies; and connect export refund entitlement to actual foreign exchange remittance, thereby conditioning refunds on realization documentation.
    Case LawsGST
    Refund of unutilised ITC - inverted duty structure - Denial on Input services - Contradictory Judgem...
    Show AI Summary
    Refund entitlement for unutilised input tax credit limited to credits from input goods under inverted duty structure.
    The document contrasts two high court approaches to refund of unutilised input tax credit under an inverted duty structure: one holding that Net ITC for refund must include credits on inputs and input services and striking down a rule excluding input services as ultra vires; the other upholding the proviso that limits refund to credit accumulated because tax on input goods exceeds tax on output supplies, finding an amended rule that excludes input services to be intra vires and a valid legislative classification.
    Case LawsIncome Tax
    Introduction of concept of mediation and Advance Ruling System for Residents to reduce tax litigatio...
    Show AI Summary
    Advance Ruling System can reduce tax litigation and provide binding certainty for taxpayers, urging reform and institutional strengthening.
    Recommend comprehensive reform of the Advance Ruling regime to reduce tax litigation by improving AAR capacity and timeliness, lowering the high resident eligibility threshold, and creating an institutional council modeled on Swedish and New Zealand systems so advance rulings become a practicable, binding, and transparent mechanism to provide tax certainty and narrow further challenges.
    NotificationsCustoms
    Supersession of regulation - Transportation of Goods (Through Foreign Territory), Regulations 1965
    Show AI Summary
    Supersession of regulations: new Transportation of Goods rules clarify governing instrument and resolve prior regulatory confusion.
    CBIC issued the Transportation of Goods (Through Foreign Territory), Regulations, 2020, expressly superseding the 1965 Regulations; prior notifications had temporarily purported to supersede and then restore the 1965 Regulations, creating stakeholder confusion about governing instruments until the 2020 regulations clarified the supersession.
    NewsBills
    Retrospective Amendments of GST rate notifications
    Show AI Summary
    Retrospective GST amendments change exemption and levy rules and bar refunds on paid GST in specified goods.
    Amendments give retrospective effect to changes in GST treatment for specified goods: fishmeal exemption is limited with no refunds for paid GST; reduced levy treatment for certain pulley and wheel parts used in agricultural machinery is applied retrospectively, also without refunds; and refunds of accumulated compensation cess credit on tobacco products arising from an inverted duty structure are disallowed retrospectively.
    NewsBills
    AMENDMENTS IN THE Goods and Services Tax (Compensation to States) ACT, 2017:
    Show AI Summary
    Removal of difficulties orders extended under GST compensation law to allow continued issuance for an additional statutory period.
    Amendment to Section 14 of the Goods and Services Tax (Compensation to States) Act, 2017 expands the temporal scope for issuing removal of difficulties orders, enabling the grant of such orders for an additional two-year period and thereby extending authority to issue orders until five years from the Act's commencement.
    NewsBills
    AMENDMENTS IN THE UTGST ACT 2017:
    Show AI Summary
    Removal of difficulties orders extended to permit issuance beyond the original timeframe, enabling continued administrative corrections.
    The UTGST Act is amended by modifying Section 26 to extend the statutory authority to issue removal of difficulties orders, permitting continuation of those orders beyond the Act's initial transitional window and thereby lengthening the period during which administrative corrections and clarifications may be made under the Act.
    NewsBills
    AMENDMENTS IN THE IGST ACT 2017:
    Show AI Summary
    Extension of removal of difficulties orders: continuation permitted for two years under amended IGST Act provision.
    The amendment to Section 25 extends the authority to issue removal of difficulties orders for an additional two years, allowing such orders to be made up to five years from the date of commencement of the IGST Act, thereby prolonging the administrative mechanism to address implementation issues.
    NewsBills
    AMENDMENTS IN THE CGST ACT 2017:
    Show AI Summary
    Composition scheme exclusions expanded, affecting service suppliers and inter state service supplies and tightening input tax credit rules.
    Amendments revise the definition of Union territory, narrow the composition scheme to exclude specified categories of service supplies, delink debit note date from invoice date for input tax credit, prescribe manner and time limits for transitional credit, and strengthen registration, procedural and enforcement provisions including cancellation and revocation rules, invoice issuance for services, removal of TDS certificate obligations, and enhanced penalties and cognizable treatment for fraudulent availment of input tax credit.
    NewsBills
    EXCISE AMENDMENT IN THE SEVENTH SCHEDULE TO THE FINANCE ACT, 2001* [Clause [145] of the Finance Bill...
    Show AI Summary
    Excise duty increase and higher NCCD rates on tobacco products raise tax incidence and apply immediately.
    Amendment increases excise and NCCD rates for specified tobacco and tobacco substitute tariff items in the Seventh Schedule to the Finance Act, 2001, listing revised unit and ad valorem rates by tariff heading and measurement unit. The changes take effect on enactment and are applied immediately under the Provisional Collection of Taxes Act, 1931.
    NewsBills
    Other Miscellaneous changes pertaining to Anti-Dumping Duty/Countervailing Duty
    Show AI Summary
    Anti-circumvention measures expanded to enable investigations into circumvention of anti-dumping and countervailing duties.
    Amendments broaden Anti-Dumping Rules to strengthen anti-circumvention measures and clarify investigation scope for dumping that injures domestic industry; corresponding changes add an explicit investigatory mechanism in Countervailing Duty Rules to address circumvention of countervailing duties and clarify procedural scope. The instrument also revokes specified anti-dumping duties on purified terephthalic acid originating from certain trading partners.
    NewsBills
    Exemption from Social Welfare Surcharge hitherto available on certain items falling chapter 84, 85 a...
    Show AI Summary
    Social Welfare Surcharge exemption withdrawn; notification amended to remove specified tariff entries in certain chapters.
    Exemption from the Social Welfare Surcharge previously applicable to specified imported goods is being withdrawn by amendment to the governing customs notification, which omits certain table entries so those goods no longer attract the earlier surcharge exemption.
    NewsBills
    Social Welfare Surcharge is being exempted on following items.
    Show AI Summary
    Social Welfare Surcharge exemption on specified imported goods announced, covering foodstuffs, stone products and complete commercial vehicles.
    Social Welfare Surcharge is exempted on a specified list of imported goods identified by HS codes and descriptions, including dairy products (whey, cheese), live plants, nuts (almonds, walnuts), cereals (wheat, maize), chewing gum, infant food preparations, various forms of orange juice, selected marble and calcareous stone products (tiles, blocks, monumental stone), and all commercial vehicles (including electric vehicles) imported as completely built units.
    NewsBills
    OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS' TECHNICAL CHANGES)
    Show AI Summary
    Customs tariff amendments tighten concession eligibility and harmonise BCD entries while removing redundant provisions.
    Amendments to customs tariff notifications revise BCD entries by omitting redundant listings, consolidating inconsistent tariff provisions, and narrowing ambiguous item scope so concessions apply only to intended end uses. Procedural and eligibility changes include imposing an actual user condition on a bamboo import concession, aligning technical conditions for satellite testing equipment and scientific instruments, clarifying assistive device coverage for disabled users, and removing the techno economic clearance requirement for a fertilizer renovation concessional BCD.
    NewsBills
    IMPOSITION OF HEALTH CESS ON IMPORT OF CERTAIN ITEMS
    Show AI Summary
    Health cess on imported medical devices imposes an additional customs duty, excluding BCD exempt items and manufacturing inputs.
    A Health Cess is proposed as an ad valorem customs duty on imported medical devices (HS headings 9018-9022) measured by import value under the Customs Act; export promotion scrips cannot be used for payment. Devices exempt from basic customs duty and inputs/parts used in manufacture are exempt from the Cess, and proceeds are to fund health infrastructure.
    NewsBills
    Customs duty exemptions which have been granted through certain other stand-alone notifications have...
    Show AI Summary
    Customs duty exemptions withdrawn as obsolete; several notifications rescinded or consolidated into updated customs notifications.
    Several earlier customs duty exemption notifications are being withdrawn as no longer relevant, including exemptions for Commonwealth Games imports, power-project imports, Advance Customs Clearance Permit imports, SAARC preferential trade, goods produced in Nepal, wool/woollen fabrics and paper money by humanitarian entities, preferential tariff items, and water-supply projects under Project Imports; certain entries have been merged or superseded and some exemptions are now available through notification No. 50/2017-Customs.
    NewsBills
    Review of concessional rates of BCD prescribed in notification no. 50/2017 - Customs dated 30.62017:...
    Show AI Summary
    BCD exemption withdrawal removes concessional customs treatment for numerous listed import goods, restoring standard basic customs duty.
    Review under the Finance Bill 2020 withdraws concessional basic customs duty exemptions by omitting specified entries from Notification No. 50/2017-Customs, thereby removing concessional BCD treatment for a broad list of listed imports - including agricultural and food products, oils, sugars, raw materials, polymers, films, chemicals, specified machinery and project-tied imports - with several entries subject to quantitative caps or conditional provisos.
    NewsBills
    OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS
    Show AI Summary
    Customs duty revisions reshape tariffs to protect domestic manufacturing while exempting inputs and conditioning concessional rates.
    Proposed revision of basic customs duty rates reallocates protection by increasing duties on finished consumer and automotive imports while reducing or exempting inputs and designated end-use materials to promote domestic manufacturing. Concessional rates and exemptions are conditional on specified end-uses and registrations, such as RNI registration for newsprint; electronic and mobile-phone components face staged duty increases with effective dates; defense-related imports by specified public sector undertakings are exempted subject to listed items.
    NewsBills
    AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
    Show AI Summary
    Basic Customs Duty increases apply to numerous tariff headings, altering import duty obligations from the effective date.
    Amendments increase the Basic Customs Duty in the First Schedule to the Customs Tariff Act, 1975 for numerous tariff headings, specifying revised duty percentages for defined commodities and adding new tariff entries; certain new entries show an operative zero effective rate. The changes are effective 02.02.2020 and declared immediately collectible under the Provisional Collection of Taxes Act, 1931.

    TMI Notes

    Back

    All TMI Notes

    Showing Results for :
    Reset Filters
      No Records Found

      TMI Notes

      Home› TMI Notes › Bill › News › Category › This
      Back

      All TMI Notes

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Bill

      OTHER CHANGES PROPOSED IN THE CUSTOM NOTIFICATIONS

      1 February, 2026

      Contents
      Plus +
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Print Options

      Union Budget 2026-27 - Finance Bill, 2026

      1. S. No. 69A of notification No. 25/2002 dated 1st March, 2002 is being modified to extend the BCD exemption currently available on capital goods for use in the manufacturing of Lithium- Ion Cells for batteries of Electrically Operated Vehicles, to cover batteries for stationary energy storage applications i.e. Battery Energy Storage Systems (BESS) also. This change is being made effective from 02.02.2026.

      2. S. No. 334A is being introduced in TABLE I of notification No. 45/2025-Customs dated 24.10.2025 to extend BCD exemption to raw materials for manufacture of parts of aircraft for maintenance, repair, or overhauling of aircraft or components or parts of aircraft, including engines, provided that the goods are imported by Public Sector Units under the Ministry of Defence. This exemption is subject to following the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 (IGCRS Rules 2022). Further, the importer has to produce an end-use certificate from an officer not below the rank of Joint Secretary in the Ministry of Defence. This change is being made effective from 02.02.2026.75

      3. S. No. 335A is being introduced in TABLE I of notification No. 45/2025-Customs dated 24.10.2025 to extend BCD exemption to components or parts, including engines, of aircraft, for the manufacture of aircraft and parts thereof, provided that the importer adheres to the procedure set out in the IGCRS Rules 2022. This change is being made effective from 02.02.2026.

      4. The exemption under S.No. 66 of TABLE II in notification No. 45/2025-Customs has been modified to cover goods required for setting up of specified Nuclear Power Project, irrespective of their capacity, as certified by an officer not below the rank of a Joint Secretary to the Government of India in the Department of Atomic Energy. Further, the validity of this exemption is being extended from 30.09.2027 to 30.09.2035. The eligibility of contracts covered under the scope of this exemption is also being extended to all contracts registered with the Customs Houses concerned on or before 30.09.2035. This change is being made effective from 02.02.2026.

      5. The List 3 appended to TABLE I of notification No. 45/2025-Customs dated 24.10.2025 has been modified to include 17 new drugs/medicines for extending BCD exemption. This change is being made effective from 02.02.2026.

      6. The List 22 appended to TABLE I of notification No. 45/2025-Customs dated 24.10.2025 has been modified to include 7 rare diseases that are a part of National Policy for Rare Disease (NPRD), 2021 for extending custom duty exemption on drugs, medicines and food for special medical purposes, when imported for personal use. This change is being made effective from 02.02.2026

      7. Notification No. 36/2024-Customs dated 23.07.2024 was issued to exempt 55 groups of critical minerals from Basic Customs Duty and Social Welfare Surcharge. As a simplification measure, 29 entries of this notification are being been omitted with effect from 01.05.2026 by shifting the effective rates to the Tariff itself. Further, 22 redundant entries are being omitted from this notification with effect from 02.02.2026. In addition, the following three entries are being merged in notification No. 45/2025-Customs dated 24.10.2025, with effect from 02.02.2026. As a consequence, notification No. 36/2024-Customs is proposed to be rescinded with effect from 01.05.2026.

      Sl.No.

      S. No. of notification No. 36/2024- Customs

      Description

      1.

      38

      Salts of oxometallic or peroxometallic acids of Beryllium and Rhenium

      [vide insertion of S.No. 110B in TABLE I of notification No. 45/2025-Customs dated 24.10.2025]

      2.

      39

      Compounds, inorganic or organic of rare earth metals

      [vide insertion of S.No. 111A in TABLE I of notification No. 45/2025-Customs dated 24.10.2025]

      3.

      55

      Unwrought; waste and scrap; powders of: —

      (i) Gallium

      (ii) Germanium

      (iii) Indium

      (iv) Niobium

      (v) Vanadium

      [vide insertion of S.No. 226A in TABLE I of notification No. 45/2025-Customs dated 24.10.2025]

      Note: Effective BCD rates will remain the same.

       

      Full Text:

      Union Budget 2026-27 - Finance Bill, 2026

      Topics

      ActsIncome Tax
      Next ➔