The 2026 baggage reforms increase duty-free allowances, permit a laptop separately, and modernise customs procedures, making international travel simpler and more predictable.
he Bill limits block assessments for other persons to the actual year of undisclosed income. The key takeaway is reduced compliance burden where no search was conducted on the taxpayer.
The Finance Bill, 2026 proposes immunity from prosecution for undisclosed foreign assets below ₹20 lakh, excluding immovable property. The key takeaway is reduced criminal exposure for minor and inadvertent lapses.
The circular consolidates all operative instructions under the new Baggage Rules, 2026 into a single master framework. It clarifies passenger rights, duties, and procedures to ensure uniform customs practices nationwide.
The circular extends the deferred payment window from 15 to 30 days, easing cash-flow pressures for eligible importers. Revised monthly cut-off dates now standardize duty payment timelines from March 2026.
The circular confirms that RPA for military use includes drones, UAVs and UAS, ensuring duty and IGST exemption when imported for defence with prescribed certification.
The amendment updates Rule 4 of the Deferred Payment of Import Duty Rules with new monthly timelines. Importers must now pay deferred duty by the 1st of the following month, with a special rule for March.
The Budget proposes a single integrated order for assessment and penalty to avoid parallel proceedings. The key takeaway is reduced compliance burden and faster resolution of tax disputes.
The Budget sharply increases the safe harbour threshold for IT services from ₹300 crore to ₹2,000 crore. This brings a much larger segment of IT companies under a simplified transfer pricing regime.
The Budget proposes reducing customs duty on all dutiable personal imports from 20% to 10%. The key takeaway is direct relief for travellers and individuals importing goods for personal use.
