HSNS Cess | CBIC's Flyer On Health Se National Security Cess, Monthly Cess Payable By Feb 07, Return Due By March 20

The Central Board of Indirect Taxes and Customs (CBIC) has issued informative flyers relating to 'Capacity Based Excise Duty' and Health Se National Security Cess (HSNS) payable by manufacturers of Pan Masala, Tobacco from February 01 2026. With the introduction of the Health & National Security Cess and Additional Excise Duties on Pan Masala, Tobacco and Other Allied Products, the GST Compensation Cess will cease to exist. HSNS is levied for the purposes of meeting expenditure on...

Customs Officers Must Wear Body Cameras During Baggage Clearance, Passenger Interactions: CBIC

Central Board of Indirect Taxes & Customs (CBIC) has mandated Body Worn Cameras for Customs officers posted at International Airports, engaging closely with passengers at baggage clearance counters. To align with global practices, Customs had started to adopt the digital technologies for audio and video recording, to enhance transparency, accountability and professionalism concerning passenger facilitation and intervention. For speeding up passenger flow while maintaining security,...

Taxpayers To Be Barred From Filing GSTR-3B Return For Excess GST ITC Claims: GSTN Issues Advisory

The Goods and Services Tax Network (GSTN) has announced that taxpayers will soon be barred from filing Goods and Services Tax (GST) Return GSTR-3B if they attempt to claim or reclaim input tax credit (ITC) in excess of the balance available in the relevant electronic ledgers. In the advisory issued on December 29, 2025, GSTN stated that negative balances and excess ITC availment will no longer be permitted in the Electronic Credit Reversal and Re-claimed Statement (ITC Reclaim Ledger)...

Centre Extends Anti-Dumping Duty On PET Resin Imports From China Till June 2026

The Ministry of Finance, Department of Revenue has extended imposition of Anti-Dumping Duty on imports of “imports of “Polyethylene Terephthalate” (PET) resin having an intrinsic viscosity of 0.72 decilitres per gram or higher” from China PR till June 26, 2026. The Anti-Dumping Duty Notification applies to PET resin having an intrinsic viscosity of 0.72 decilitres per gram or higher” falling under tariff items 3907 61 90 and 3907 69 90 of the First Schedule to the Customs Tariff Act. ...

Securities Markets Code, 2025: What Is New In the Government's Proposed Overhaul of Capital Markets Law

The Central government on Thursday introduced the Securities Markets Code, 2025 in the Lok Sabha, proposing a single, consolidated law to govern India's securities markets. The proposed bill repeals the Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992, and the Depositories Act, 1996.Beyond consolidation, It also introduces introduces several substantive changes to existing regulatory mechanism Expanded Definition of 'Securities'One of the...

Centre Proposes Mandatory Blanket Licence for AI Training on Copyrighted Works, Royalties for Creators

The Centre has proposed a mandatory blanket licence that would allow artificial intelligence developers to train their systems on all lawfully accessed copyrighted works as a matter of right, while requiring them to pay statutory royalties to copyright owners, rejecting both a broad “fair dealing” expansion and a commercial text and data mining exception. The proposal is contained in a working paper released by the Department for Promotion of Industry and Internal Trade (DPIIT) on December 8,...

GSTR-3B To Become Non-Editable November Onwards: GSTN Issues FAQs On Return Filing, Advisory On Automatic Suspension Of GST Registration

The Goods and Services Tax Network (GSTN) has informed that from November-2025 tax period onwards, value of supplies auto-populated in Table 3.2 of GSTR-3B from the returns/forms mentioned above, shall be made non-editable. In an advisory dated December 05, 2025, GSTN stated that in case any modification/amendment is required in the auto-populated values of Table 3.2 of GSTR-3B, then the same can be done through GSTR-1A for the same tax period. GST Portal provides a pre-filled...

Centre Says Tax Exemption For Cooperative-Made Goods Lies With GST Council; Lists Wide-Ranging Tax Relief & Financial Support For Cooperatives

The Union Minister for Cooperation, has told the Lok Sabha that the Government received requests to exempt goods made by cooperative societies from GST. However, decisions on GST exemptions are taken by the GST Council, which is a constitutional body. Despite this, the Minister said that the Central Government has already given many tax benefits to cooperatives to improve their financial strength and business growth. Tax Reliefs Already Given:- The reply lists several tax...

Centre Outlines Response To US Tariffs; Announces ₹25,060 Cr Export Promotion Mission, RBI Relief & Credit Support

The Centre on Tuesday in response to impact of escalation in Tariffs imposed by the United States of America has clarified that it is countering through trade negotiations, export promotion schemes, credit support, RBI relief, and FTA diversification. As immediate steps, the following Trade relief measures had been introduced to provide priority support for sectors hit by tariffs including textiles, leather, gems & jewellery, engineering, marine. These are For exporters new...

DGFT Allows Personal Carriage Of Gems & Jewellery Parcels Through Ahmedabad Airport Under FTP 2023

The Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, has amended Paragraphs 4.87(a) and 4.88 of the Handbook of Procedures (HBP) 2023 under the Foreign Trade Policy (FTP) 2023. The amendment now allows import and export of gems and jewellery parcels for personal carriage through Ahmedabad Airport, in addition to the previously listed international airports such as Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bengaluru, Hyderabad and Jaipur.The procedure...

Centre Expands Collateral-Free MSME Financing To ₹10 Crore Under Revamped CGS; Clarifies Subsidy, Equity Support Figures

The Central Government in response to details of financial support and credit facilitation for the Micro, Small and Medium Enterprises (MSMEs) has clarified that effective April 01, 2025, the Ministry of MSME has expanded collateral-free financing by enhancing CGS coverage up to Rs. 10 crores with reduced guarantee fees. Under the credit-linked subsidy schemes, tabulated statistics indicated that Government has in the last three financial years i.e FY 2022-23 to FY 2024-25 assisted ...

IBBI Caps Assignments For Individual Insolvency Professionals At Ten At A Time

The Insolvency and Bankruptcy Board of India has issued the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025, placing limits on the total number of assignments that an individual insolvency professional may handle at a given time. The regulations come into force on November 20. The amendment introduces Regulation 7B titled Number of Assignments, capping the number of assignments an individual insolvency professional may hold, at a time,...