TaxTMI 
TaxTMI 
India's indirect tax reforms create temporary appellate powers and extend customs jurisdiction for Indian flagged fishing vessels.
The Finance Bill, 2026 authorises temporary designation of an existing Authority or Tribunal to exercise the National Appellate Authority for Advance Ruling powers under a new sub section of Section 101A CGST Act, effective 1 April 2026, while excluding certain procedural subsections where a Tribunal is empowered. It inserts Section 56A to extend Customs Act jurisdiction for Indian flagged fishing vessels in the EEZ and high seas, prescribes duty and export treatments for marine harvests, recharacterises penalties under Section 28(6), extends advance rulings validity to five years, and simplifies warehousing transfers, provisional refunds and post sale discount and intermediary place of supply rules. (AI Summary)
The Finance Bill, 2026 authorises temporary designation of an existing Authority or Tribunal to exercise the National Appellate Authority for Advance Ruling powers under a new sub section of Section 101A CGST Act, effective 1 April 2026, while excluding certain procedural subsections where a Tribunal is empowered. It inserts Section 56A to extend Customs Act jurisdiction for Indian flagged fishing vessels in the EEZ and high seas, prescribes duty and export treatments for marine harvests, recharacterises penalties under Section 28(6), extends advance rulings validity to five years, and simplifies warehousing transfers, provisional refunds and post sale discount and intermediary place of supply rules. (AI Summary)
04 Feb 2026 
