Circular No. 40/2026-Customs F. No. CBIC-510401/4/2023 Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes and Customs) 16049, Kartavya Bhavan-1, New Delhi Date: 03-09-2026 To, 1. All Principal Chief Commissioners / Chief Commissioners of Customs /Customs (Preventive) / Customs & Central Taxes 2. All Principal Commissioners / Commissioners of Customs / Customs (Preventive) 3. Pr. Director General, DGARM, 4. Pr. Direct... ... ...

Circular no. 39/2026-Customs F. No. 450/81/2016-cus IV Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs Kartavya Bhavan-16049, New Delhi,  Dated the 3^rd September, 2026 To, The Principal Chief Commissioner/Chief Commissioner (Customs/Customs Preventive/Customs and Central Tax);  All Principal Commissioners/Commissioners of Customs/Customs Preventive; All Principal Director Generals/Director General... ... ...

Reassessment notices issued beyond three years require the alleged escaped income to meet the prescribed monetary threshold for extended limitation. Where the recorded escaped income for Assessment Year 2017-18 was below Rs. 50 lakh, the extended period was unavailable. The notice issued under Section 148 was therefore invalid, and the consequential reassessment could not stand.

Before initiating recovery, the proper officer may communicate the identified short payment or non-payment and require the registered person, within the prescribed reasonable period, either to pay the amount or explain the GSTR-1 and GSTR-3B difference. Recovery under section 79 need not be initiated where the explanation satisfactorily justifies the mismatch or the unpaid amount is paid. Where the registered person does not respond, does not pay within the permitted time, or fails to provide a satisfactory explanation, the proper officer may commence recovery proceedings for the unpaid self-assessed tax and related interest.

Industrial development facilitation extends beyond allocation of industrial plots to infrastructure development, services, and a favourable business environment. Industry-support policies seek to encourage participation by entrepreneurs, promote growth across sectors, and improve investment conditions without distinction between small and large enterprises. Dry-port infrastructure strengthens national and international trade connectivity, supporting import and export expansion for industrial and agro-based businesses.

Decentro operates an integrated fintech infrastructure platform combining payment acceptance, identity verification, banking and AI-led collections through a unified integration layer. It holds Payment Aggregator authorisations for online and physical payments, a Payment Service Provider licence through its GIFT City entity, and certification for offline identity-verification workflows. These capabilities support embedded financial products, payment acceptance, lending collections and related financial workflows for enterprise users.

Departmental GST appeals are subject to monetary thresholds for GSTAT, High Court and Supreme Court filings, but an appeal exceeding the relevant threshold must still be assessed on its merits. The disputed amount is determined according to whether the case concerns tax, interest, penalty, late fee or erroneous refund, with composite orders assessed on the aggregate amount. Thresholds do not apply to constitutional or delegated-legislation challenges, recurring interpretative issues, valuation, classification, refunds, place of supply, adverse comments or costs, and other matters requiring contest in the interest of justice or revenue.

NBFCs and HFCs can complement bank-led credit delivery through last-mile reach, sector-specific expertise, digital infrastructure, consent-based data sharing and cash-flow-based underwriting. Sustainable growth requires strong liquidity risk management, governance, compliance culture, diversified funding, stress testing, early-warning systems, dynamic provisioning and sound underwriting standards. Proportionate scale-based regulation, digital lending standards and a substance-over-form approach seek to support innovation while preserving financial stability. Customer protection, responsible lending, grievance redressal, fair recovery conduct, cyber resilience and protection of customer data remain essential.

Delhi GST amendments replace the earlier input tax credit matching framework with an auto-generated electronic statement that identifies credit available and credit restricted on supplier-risk criteria. Eligible credit may be self-assessed, but credit relating to unpaid supplier tax must be reversed with applicable interest and may be re-availed after payment. Outward-supply details and returns are subject to filing conditions, including prior-period compliance, with conditional exceptions for specified persons. The amendments also revise refund rules, interest on wrongly availed and utilised credit, and electronic credit ledger restrictions.

Reassessment limitation for assessment year 2017-18 expired on 30 June 2021. The deemed-notice procedure could not extend the surviving limitation period under the new reassessment regime. For reopening beyond three years, the extended period also required alleged escaped income in the prescribed form to meet the applicable threshold; alleged escaped income did not meet that requirement. The Section 148 notice issued on 29 July 2022 was therefore invalid, and the consequential reassessment was quashed. Grounds challenging additions on merits became infructuous.

CSR expenditure disallowed in computing business income under Explanation 2 to section 37(1) may nevertheless qualify for deduction under section 80G. Section 80G operates independently under Chapter VI-A when computing total income and does not require donations to approved institutions to be voluntary. The exclusion applicable to specified CSR donations does not extend to donations made to other section 80G-approved institutions. Although CSR spending is mandatory, the taxpayer retains discretion in selecting the recipient. Eligible CSR donations supported by prescribed conditions and documentation are therefore deductible under section 80G.

Collective minimum-fee fixing for debenture trusteeship services prevented trustees from making independent commercial pricing decisions and constituted cartelisation. Prescription of a benchmark fee limited and controlled the supply or market for such services by directing association members and non-members not to serve debenture issuers below that fee. The conduct contravened Section 3(3)(a) and Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002.

Country-of-origin certificates issued by the exporting country's competent authority require reliable verification before customs authorities may reject the declared origin. Under the Rules of Origin framework, doubts over origin call for verification through the competent verification authority; visual inspection, discrepant photocopies and uncorroborated statements do not reliably displace such certificates. A food-safety no-objection certificate issued after inspection also prevents an alleged labelling breach from independently supporting confiscation. Without cogent evidence of knowingly false declarations or certificate manipulation, confiscation for misdeclaration and related penalties for improper importation or use of false documents are unsustainable.

Digital textile printing is presented as an industrial alternative to conventional screen printing, allowing direct production from digital design files with faster design changes, shorter lead times and flexibility across varying order quantities. Single-pass systems support high-volume production through fixed printing units and continuous fabric movement, while multipass platforms provide flexible production across natural, synthetic and specialised textiles. Digital production is associated with printing closer to demand, eliminating physical screens, reducing unnecessary production, and addressing wastewater reduction, chemical compliance, traceability and responsible manufacturing expectations.

Economic growth, export expansion and infrastructure investment are presented as interconnected drivers of India's development, global standing and employment opportunities. Infrastructure expenditure, railway expansion and improved transport connectivity are identified as measures intended to facilitate movement, simplify transportation, support trade and exports, and strengthen industrial and commercial activity. These measures are associated with the objective of a developed India by 2047 and enhanced employment, business and growth opportunities.

Securities, including shares issued under ESOPs, ESPPs or RSUs, are neither goods nor services, and their transfer does not itself constitute a taxable supply. Where employee stock benefits form part of remuneration under employment terms, the arrangement is outside the scope of supply. A domestic subsidiary's cost-to-cost reimbursement to its overseas holding company for shares issued to employees is not an import of services. Any fee, markup or commission exceeding the securities cost is consideration for facilitation services and attracts GST under reverse charge.

Warranty replacement principles for GST liability and input tax credit reversal apply to replacement of entire goods as well as their parts. Where a distributor replaces goods or parts from its own stock on behalf of a manufacturer and receives replenishment without separate consideration through a delivery challan, no GST is payable on replenishment and the manufacturer need not reverse input tax credit. Extended warranty supplied by a person different from the goods supplier, or supplied after the original supply, is a separate supply of services. Where the same supplier provides both goods and extended warranty at original supply, it forms part of a composite supply.

Delhi GST amendments revise composition eligibility and turnover calculations, introduce Aadhaar-based registration authentication with alternate identification, and permit prescribed electronic payment modes. They establish monthly, quarterly and annual return arrangements, allow specified filing extensions, and enable transfers between electronic cash ledgers for different GST components. Interest on delayed returns is generally limited to tax paid through the electronic cash ledger before proceedings begin. National advance-ruling provisions gain effect, anti-profiteering may attract a penalty subject to timely deposit, and Uranium Ore Concentrate receives retrospective rate-schedule treatment without refund of tax already collected.

E-invoicing applies where a registered supplier exceeding the prescribed turnover threshold makes supplies to Government Departments, Government agencies, local authorities or public sector undertakings registered solely for tax deduction at source. Such entities are subject to compulsory registration and are treated as registered persons under the Tamil Nadu GST framework. Their tax deduction at source registration does not remove the supplier's obligation to issue e-invoices under rule 48(4).

No Due Certificates for contractors and suppliers seeking government contracts require verification of return filing, tax payment, delayed-payment interest, annual returns, and liabilities under GST and legacy tax laws. Officers must also check unstayed arrears and liabilities under other registrations linked to the same PAN. The certificate must use the prescribed format and bear a system-generated Reference Number, without which it is invalid. Deficient applications require a reasoned rejection response, and supervisory officers must ensure timely processing and compliance.