- within Tax topic(s)
- with Senior Company Executives, HR and Finance and Tax Executives
- in European Union
- in European Union
- in European Union
- with readers working within the Accounting & Consultancy, Automotive and Oil & Gas industries
Notifications/Circulars/GSTN Advisory:
This section provides an overview of the latest GSTN advisories, CBIC notifications, circulars, and other key regulatory updates.
Notification No.: 02/2026‑C.T./GST dated 22 May 2026 issued by the Commissioner of State Tax, West Bengal from the Directorate of Commercial Taxes, Kolkata. Issued under: Rule 138(14) of the WBGST Rules, 2017, with concurrence of the Principal Chief Commissioner of CGST & Central Excise, Kolkata Zone. West Bengal reduces E-Way bill threshold for intra-state movement of goods from 1,00,000 to 50,000 effective from 1st June, 2026. The requirement does not apply to intra-state movement of goods for job work as defined under Section 2(68) of the CGST/WBGST Act. The notification strengthens GST compliance by lowering the reporting threshold and enhances GST revenue tracking and transparency in intrastate transactions.
CBIC circular no. 26/2026- Customs, dated 15 May 2026 - Standardisation of procedures relating to grant of Entry Inward and Vessel Sail-out Clearance CBIC via Circular no. 26/2026 dated May 15th, 2026 standardized the procedure for entry inward and vessel sail-out clearance across customs ports to eliminate delays by de-linking physical boarding formalities under section 37 from cargo clearance mandates of sections 31 and 42. By transitioning Entry Inward and Sail-out Clearance into remote, digital processes powered by automated risk profiling, the policy eliminates unpredictable delays, is expected to reduce vessel turnaround times, and optimizes port efficiency. While enforcement remains robust for high-risk vessels, the standard work flow transforms into a seamless, faceless mechanism where cargo operations can begin the moment a ship berths thereby supporting trade facilitation and the Government's ease of doing business initiatives.
CBIC INSTRUCTION No. 07/2026-Customs, dated 02 June 2026: Streamlined Procedure for Customs Field Formations to Seek FTP Clarifications from DGFT
CBIC issued Instruction No. 07/2026‑Customs Dt. 02/06/2026, addressed to all PCCIT./CCIT, PCIT/CIT of Customs & DGs under CBIC, to regulate the procedure for Customs field formations to seek interpretation or clarification of FTP provisions from the DGFT. The instruction establishes a mandatory, hierarchical framework for Customs field formations seeking Foreign Trade Policy (FTP) clarifications from the DGFT, prohibiting direct, decentralized communication to eliminate inconsistent interpretations and clearance delays. Under this new protocol, interpretational issues must first undergo institutional scrutiny at the Commissionerate or Zonal level, and be vetted by the relevant National Assessment Centre (NAC) if commodity-specific, before being escalated to the Board via a standardized, urgency-tagged reference template. Crucially, the instruction functions as a trade facilitation tool by explicitly mandating that field formations must not hold up pending consignments solely for policy interpretations; instead, they are directed to leverage provisional assessments under Section 18 of the Customs Act, 1962, thereby ensuring uniform implementation of the Foreign Trade Policy while minimising disruption to legitimate trade.
To view the full article please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
