COMPLIANCE AND REGULATORY
GSTN Activates Withdrawal Facility For Small Taxpayers To Opt Out Of Simplified Registration Option
As of 21 February 2026, the Goods and Services Tax Network (GSTN) has activated the facility to file Form GST REG-32 for taxpayers who wish to opt out of registration under Rule 14A of the Central Goods and Services Tax (CGST) Rules.To mitigate compliance burdens, as part of the 'Next Generation GST Reforms', a Simplified GST Registration Scheme for Small and Low-Risk Businesses under Rule 14A was introduced in 2025.Rule 14A provides a simplified registration option for small and low-risk...
SEBI Mandates 2x Peak Load Capacity For Commodity Derivatives Exchanges, Clearing Corporations
The Securities and Exchange Board of India (SEBI) has recently directed stock exchanges and clearing corporations in the commodity derivatives segment to maintain installed system capacity at least twice their projected peak load. This effectively requires exchanges in the segment to prepare their systems for traffic levels well above expected peak volumes. SEBI noted that Clause 16.1.2 of Chapter 16 of its Master Circular for Commodity Derivatives Segment dated August 4, 2023, requires stock...
No GST Dues Pending For Release To States, Centre's Response Informs Lok Sabha
In a written response to the Lok Sabha, Minister of State for Finance Shri Pankaj Chaudhary clarified that the government has released Rs. 2,01,195 crore of GST compensation to States and Union Territories for the period 1 July 2017 to 30 June 2022. He further confirmed that no GST dues are currently pending for release to the States, except for Arunachal Pradesh and Manipur, where final payments remain on hold due to the non-receipt of the required Accountant General (AG) certificates. The...
DGFT Invites Comments On Draft Digital Trade Facilitation Bill, 2026
On Monday, 9 February, the Directorate General of Foreign Trade (DGFT) issued a trade notice inviting stakeholder comments on the draft Digital Trade Facilitation Bill, 2026, which aims to give statutory recognition to electronic trade documents and regulate digital identity and trust services for cross-border trade. The notice follows the Union Budget announcement on implementing BharatTradeNet as a digital public infrastructure for trade. The Ministry of Commerce noted that the current legal...
CBDT Issues Draft Income Tax Rules 2026 Navigator Mapping Existing Rules To New Framework
With the Income Tax Act, 2025 set to come into force on 1 April 2026, the Central Board of Direct Taxes (CBDT) has released the Draft Income Tax Rules, 2026 for public consultation. To assist stakeholders in navigating the transition, the CBDT has also published an official navigator that maps each of the 333 draft rules to their corresponding provisions under the existing Income Tax Rules, 1962, which currently comprise 511 rules. In addition to revising and consolidating existing draft...
CCI Penalises Allcargo Logistics ₹50 Lakh For Closing Gati Express Deal Without Prior Approval
The Competition Commission of India (CCI) has recently imposed a penalty of Rs 50 lakh on Allcargo Logistics Limited after finding that its acquisition of the remaining stake in Gati Express led to a change from joint control to sole control and was completed without prior notification. Before the deal, Allcargo held a 70% stake in Gati Express through its subsidiary, while KWE owned the remaining 30%. Even so, the Commission noted that KWE's holding gave it the power to block special...
Deep Tech Startups To Retain Status For 20 years Under New DPIIT Notification
On 4 February, the Ministry of Commerce and Industry, through the Department for Promotion of Industry and Internal Trade (DPIIT), issued a notification extending enhanced tax incentives and revising the startup recognition criteria for “Deep Tech Startups” (DTSs) DTSs are entities engaged in developing advanced scientific or engineering solutions involving high research and development intensity, significant intellectual property creation, long gestation periods, and elevated technical or...
CBIC Extends Deferred Import Duty Facility To Compliant Businesses From March 2026
On 1 February 2026, the Central Board of Indirect Taxes and Customs (CBIC) proposed extending the deferred payment of import duty facility to compliant businesses from 1 March 2026 through Notification No. 13/2026. Per the Notification, the facility will be available until 31 March 2028, and payments will be monitored through Indian Customs Electronic System (ICES) dashboards.The move is aimed at encouraging domestic manufacturers to obtain the Authorised Economic Operator (AEO)...
Baggage Rules 2026 Allow Returning Indians To Bring Jewellery Upto 40 Gram Duty-Free
The Central Government has notified the Baggage Regulations, 2026, giving a limited category of international passengers a special duty-free allowance for jewellery. Under the Regulations , Indian residents and tourists of Indian origin who have lived abroad for more than one year can bring jewellery over and above their personal effects into India without paying customs duty, within specified limits. The allowance is upto 20gms for male passengers a 40gm for female passengers. Jewellery...
Changes In Interest Calculation For GST Monthly Return From January 2026; GSTN Issues Advisory
The Goods and Services Tax Network (GSTN) has issued an advisory setting out changes to interest computation and related system features in the monthly return GSTR-3B (GST). The changes will apply from the January 2026 tax period onwards. From January 2026, interest shown in Table 5.1 of GSTR-3B (GST) will be calculated after adjusting the minimum cash balance available in the Electronic Cash Ledger from the due date of filing until the date of tax payment. The change follows the proviso to...
Finance Bill, 2026 Proposes Enabling GST Appellate Tribunal To Hear Advance Ruling Appeals
The Finance Bill, 2026, proposes a change in the GST appellate framework that will allow the Goods and Services Tax Appellate Tribunal to hear a limited category of advance ruling appeals. GSTAT will continue to function as the appellate forum for regular GST disputes such as classification, valuation, and input tax credit. The proposed change does not alter this role. Under the GST law, advance rulings are issued by state-level Authorities for Advance Rulings. Appeals lie before the...