The issue involved inconsistent practices by banks in accepting coins and defective notes. RBI held that all branches must provide free exchange services without refusal, reinforcing customer rights and compliance obligations.
The government has reduced AIDC on ammonium nitrate to nil. The move lowers import costs and ensures supply for key sectors.
Finance Ministry exempts basic customs duty on specified chemicals and polymers till June 30, 2026 under Notification 12/2026-Customs.
The notification confirms continuation of RoDTEP with unchanged rates and caps. Exporters benefit from continuity and predictability in incentives.
The DGFT has granted a one-time 30-day extension for diamond re-import timelines under FTP 2023. This move addresses logistical delays caused by geopolitical instability and ensures exporters retain zero-duty benefits. It provides temporary relief to affected shipments within a specified period.
The Government extended the free import policy for Tur to ensure adequate supply in the domestic market. This helps control price volatility and supports food security.
The government has extended the unrestricted import of Urad for another year. The key takeaway is that importers can continue duty-free imports without policy restrictions until 31 March 2027.
The government extended the Free import policy for Yellow Peas without MIP or port limits. Imports remain subject to online monitoring registration.
The notification prolongs MIP on Virgin Multi-layer Paper Board imports until 30 April 2026. It reinforces regulatory control over import pricing and stabilizes domestic market conditions.
The amendment clarifies that income from investments made before 1 April 2017 is excluded from Chapter XI provisions. It ensures that legacy investments are protected from retrospective tax implications while applying anti-abuse rules prospectively.
