In terms of recommendations of GST Council, CBIC has notified January 01, 2027 as the date from which e-invoicing shall become mandatory in respect of supply of goods or services from unregistered suppliers including import of services in respect of which tax is to be paid by the registered recipient under Reverse Charge Machanism (RCM) subject to the condition of turnover of registered person exceeding INR 5 Crores.
In case of Oxygen The Digital Shop (GSTAT, Thiruvananthapuram held that GST ITC on interior work in rented showrooms is not blocked under section 17(5) (d) of the CGST Act, 2017 where the tax component is not capitalised in the books. The restriction applies only to the extent of capitalisation.
To make tracking import and export documents easier, RBI has launched a new simple online module for trade transactions.
Important Note:
Importer/exporter can now directly view and download your import and export transaction details from the RBI portal — without depending only on bank.
What Has Changed?
Earlier, Importer/Exporter had to contact your Authorised Dealer (AD) Bank to check the status of trade data.
Now, importer/exporter can log in and check the details yourself through:
• EDPMS – For Exporters
• IDPMS – For Importers
For Exporter (EDPMS)
Can view:
• Shipping Bills – Check export shipment details and payment status
• Inward Remittance Messages (IRM) – Track foreign money received and match it with shipping bills
For Importer (IDPMS)
Can view:
• Bills of Entry (BOE) – Check the imported goods details filed with Customs
• Outward Remittance Messages (ORM) – Track payments made to overseas suppliers and match them with BOEs
Why This Is Helpful?
• Timely access to status updates – See pending or “open” data status.
• Avoid Delay – Reduce risk of caution listing
• Better Accuracy – mismatches between Customs and Bank records
• Easy Compliance – Simplify audit and reporting work
What need to do?
• Register on the official RBI portal for IEDPMS access
• Ensure your IEC Code and PAN are correctly linked with your Authorised Dealer Bank
The Reserve Bank of India issued A.P. (DIR Series) Circular No. 25 and A.P. (DIR Series) Circular No. 26 on October 10, 2026, to tighten controls and manage risk in the foreign exchange mark.
These are very important regulatory measures announced by the Reserve Bank of India (RBI) on October 10, 2026, concerning Foreign Exchange (FX) derivative transactions involving Indian Rupee, effective immediately, aimed at strengthening market discipline and ensuring orderly functioning of the foreign exchange market.
The key changes include restrictions on rebooking cancelled FX derivative contracts, a reduction in the threshold for undertaking certain derivative transactions without establishing the underlying exposure, from $100million to $5 million and the introduction of a Foreign Exchange Risk Reserve (FERR) for specified transactions.
Dealers must secure signed declarations confirming exposures are not redundantly hedged elsewhere.
In 57th GST Council Meeting- Major relief for taxpayers as the Council announces removal of GST officers’ arrest power. Prosecution threshold increased from INR 1 Crore to 5 Crore removing prosecution exposure. Courts will have discretion to impose imprisonment, fine or both depending on the case. Consignments will generally be checked at origin and destination rather than repeatedly across states. Prior authorization by an officer not below Joint Commissioner rank required for intelligence-based vehicle stoppage.
Recommendations of 57th GST Council meeting is a great initiate towards ease of doing business in India.
In the case of Flora Kingdom Farm Resort Vs. Commissioner of Commercial Taxes, the Goods and Services Tax Appellate Tribunal (GSTAT) Bengaluru Bench ruled on the eligibility of Input Tax Credit (ITC) for resort and hotel construction as building cannot be treated as plant and machinery after the retrospective amendment effective July 01, 2017. A resort used for the taxpayer’s own business, shall be reckoned to be built on own account even where it hosts weddings and events.
The Directorate General of Foreign Trade Notification extended the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for three months until December 31, 2026
The Reserve Bank of India has introduced the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. The revised framework seeks to promote ease of doing business, facilitate faster transaction processing and provide Authorised Dealer (AD) Banks greater flexibility in handling trade transactions while maintaining appropriate regulatory oversight.
Effective 1 October 2026, the existing RBI Master Directions on Export of Goods and Services , Import of Goods and Services will stand superseded and be replaced by the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (FEMA 23(R)/2026-RB dated January 13, 2026).
Hon’ble Supreme Court of India dismissed a writ petition filed by Vikas Jindal challenging the validity of arrest and the constitutional validity of Sections 69 and 70 of the Central Goods and Services Tax (CGST) Act, 2017.
Hon’ble Supreme Court reiterated that a penalty and prosecution mechanism to check evasion is a permissible exercise of legislative power. It therefore rejected the petition challenging the provisions allowing arrest and summons under GST law.
Trade Notice No. 25/2026/27 issued by DGFT on 7th September 2026. DGFT has introduced an Open API facility for issuance of Certificates of Origin (CoO) through the Trade Connect platform and the same is now made available for use by eligible exporters as per prescribed process and technical requirements.
The objective of the Open API facility is to enable exporters to integrate their Enterprise Resource Planning (ERP), accounting or other software systems with the DGFT’s Certificate of Origin system for electronic submission and exchange of CoO-related information, thereby reducing manual data entry and facilitating a more efficient application process.
The complete process for registration, API access, authentication, technical integration and use of the Open API facility is available on the Trade Connect portal, at
https://www.trade.gov.in/pages/certificate-of-origin in “API Management for Exporters” section.
