COMPLIANCE AND REGULATORY
Finance Bill 2026 Proposes GST Relief For Intermediaries By Treating Services To Overseas Clients As Exports
The Finance Bill, 2026, proposes a key change in the GST treatment of certain cross-border services, especially those provided by Indian intermediaries to overseas clients. Under the current GST regime, the place of supply for cross-border services is governed by Section 13 of the Integrated Goods and Services Tax (IGST) Act, 2017. This section applies when either the supplier or the recipient of a service is located outside India. At present, Section 13(8)(b) of the IGST Act lays down a...
DGFT Revises Bulk Drug Policy, PEN-G, Amoxycillin Subject To Minimum Import Price Till Jan 2027
In a Notification dated 29 January 2026, the Directorate General of Foreign Trade (DGFT) has revised the import policy for certain bulk drugs, including Penicillin G-Potassium (PEN-G) and its salts. According to the notification, specific antibiotics such as PEN-G, Amoxycillin and its salts, and 6-APA have been moved from the 'Free' category to the 'Restricted' category. Further, the notification prescribes a Minimum Import Price (MIP) for certain imports. It is the lowest price at which a...
CCI Approves Elliott-Managed Funds' Proposed Stake Purchase In Toyota Industries
The Competition Commission of India (CCI) has approved a proposal involving the acquisition of equity shares and voting rights in Toyota Industries Corporation by funds managed by US-based Elliott Investment Management. Under the approval, Elliott Associates L.P., Elliott International L.P. and The Liverpool Limited Partnership will acquire shares of Toyota Industries through on-market purchases on the Tokyo Stock Exchange and the Nagoya Stock Exchange. As the transaction involves the...
DGFT Allows Limited Export Of 5 Lakh Metric Tonnes Of Wheat Flour, Products
The Directorate General of Foreign Trade (DGFT) has allowed exports of up to 5 lakh metric tonnes (LMT) of wheat flour and related wheat products while retaining the overall prohibition on such exports. The easing was notified through an amendment to the export policy for items classified under HS Code 1101, which covers wheat or meslin flour (atta), maida, semolina (ravi/sirgi), wholemeal atta, and resultant atta. Under the amended policy, exports of these wheat products will continue to be...
GSTN Issues Advisory On RSP-Based Valuation For Tobacco Products
Ahead of the rollout of the Retail Sale Price (RSP)–based valuation mechanism from 1 February 2026, the Goods and Services Tax Network (GSTN) has issued an advisory for taxpayers.The advisory provides guidance on reporting taxable value and tax liability under the RSP-based valuation in e-invoices, e-way bills, GSTR-1, GSTR-1A, and the Invoice Furnishing Facility (IFF).As part of the RSP-based system, GST on notified tobacco products has been computed at 40% and the taxable value will now be...
RBI Brings Exports, Imports and Merchanting Trade Under Single FEMA Framework
The Reserve Bank of India has notified a new set of foreign exchange rules that bring exports, imports, and merchanting trade transactions under a single regulatory framework for the first time.The Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 replace the 2015 rules, which were limited to exports of goods and services.The regulations were notified on January 13, 2026, under the Foreign Exchange Management Act, 1999. They will come into force on October...
RBI Tweaks Reference Date For Fortnightly Reporting By Scheduled Banks
The Reserve Bank of India has tweaked the cut-off date for fortnightly reporting by scheduled banks, without changing the reporting frequency itself. The change has been brought by the notification of the Reserve Bank of India Scheduled Banks' (Amendment) Regulations, 2025.Banks, which were already filing returns on a fortnightly basis, will now report their statement of position as on the last day of the fortnight, instead of the earlier practice of reporting figures as on a Friday. The change...
What Is MF-Lite? SEBI Introduces New Mutual Fund Category Under 2026 Regulations
In a sweeping overhaul of the mutual fund regulatory regime, the Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Mutual Funds) Regulations, 2026, which introduces Mutual Fund-Lite (MF-Lite) as a separate category of mutual funds. Notified on 14 January, the regulations have repealed the nearly three-decade-old SEBI (Mutual Funds) Regulations, 1996 and are scheduled to come into force with effect from 1 April 2026. Under the new regime,...
RBI Issues New Internal Ombudsman Rules For Credit Bureaus, NBFCs And Prepaid Payment Companies
The Reserve Bank of India has rolled out a fresh set of rules that make it mandatory for several financial sector players to appoint an internal ombudsman, a senior, independent official who will review certain customer complaints before they are finally rejected. Through three separate notifications issued on January 14, 2026, the RBI notified the Internal Ombudsman Directions for Credit Information Companies, eligible Non-Banking Financial Companies, and large non-bank Prepaid Payment...
SAT Mumbai: Termination of SPA in Financial Notes is 'No Disclosure' Under SEBI Regulations
The Securities Appellate Tribunal (SAT) held that termination of a Share Purchase Agreement, when camouflaged in the notes appended to financial results and not disclosed in the main minutes of the board meeting, amounts to no disclosure at all under the SEBI (LODR) Regulations, 2015.Tanzania Bottling Company (TBC) has successfully challenged SEBI's dismissal of its complaint against Varun Beverages Limited (VBL), alleging that a 'camouflaged' disclosure regarding a terminated deal led to a...
CBIC Revises Tariff Values For Gold, Silver, Edible Oils And Brass Scrap
The Central Board of Indirect Taxes and Customs (CBIC) has updated tariff values for edible oils, brass scrap, gold, silver and areca nuts. By a notification issued on 15 January 2026, the CBIC notified revised tariff values effective from 16 January 2026, fixing the tariff value of gold at USD 1,483 per 10 grams and silver at USD 2,950 per kilogram. The CBIC has also notified that there is no change in the tariff value of areca nuts falling under tariff item 080280. Further, revised tariff...