The Central Board of Indirect Taxes and Customs on 12th September, 2025 has notified the Customs (Finalisation of Provisional Assessment) Regulations, 2025, replacing the 2018 framework. These new regulations mark a significant reform in the way provisional assessments are managed, introducing greater clarity, stricter timelines, and accountability for both businesses and customs authorities. At the […]
M/S Shah Nanji Nagsi Exports Pvt. Ltd. v. Union of India (2025 INSC 1032) Introduction In a landmark ruling delivered on 19 August 2025, the Supreme Court of India in M/S Shah Nanji Nagsi Exports Pvt. Ltd. v. Union of India clarified the law on exporters’ entitlement under the Merchandise Exports from India Scheme (MEIS). […]
The Directorate General of Foreign Trade (DGFT), vide Public Notice No. 20/2025-26 dated 26 August 2025, has suspended with immediate effect the Standard Input Output Norms (SIONs) pertaining to food products. The suspension has been necessitated as DGFT has observed that in several cases, (i) input descriptions are generic, and (ii) quantities of alternative inputs […]
Introduction The India-UK Free Trade Agreement (FTA), officially termed as the India-UK Comprehensive Economic Partnership Agreement (CEPA), marks a significant milestone in India’s evolving global trade architecture. With negotiations launched in January 2022 finally signed on 24th July 2025, the FTA aims to create a liberal, equitable, and mutually beneficial trade framework between two major […]
In a significant move to bolster India’s export competitiveness, the Government of India has announced the restoration of benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exporters operating under Advance Authorisation (AA), Special Economic Zones (SEZs), and Export-Oriented Units (EOUs). This reinstatement will take effect from June 1, 2025. […]
By OSGAN Consultants Pvt. Ltd.Your Trusted Partner for Business Setup & Compliance in India IntroductionThe recent Supreme Court judgment permitting businesses to use their Electronic Credit Ledger (ECL) for making the mandatory 10% pre-deposit in Goods and Services Tax (GST) appeals marks a landmark development in Indian tax litigation. This ruling not only alleviates cash […]
The Reserve Bank of India (RBI) has initiated a major regulatory transformation with the release of the Draft Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025. This landmark reform is set to redefine India’s foreign exchange management landscape by streamlining trade-related compliance under FEMA, 1999, improving ease of doing business, and […]
The Advance Authorisation Scheme, governed by the Foreign Trade Policy (FTP) 2023 , is a vital export promotion tool. It allows duty-free import of inputs that are physically incorporated in export products. But at the heart of this scheme lies a critical process known as norms fixation — a mechanism that determines the quantity of […]
The Ministry of Electronics & IT has officially launched the Electronics Component Manufacturing Scheme (ECMS) — a transformative policy aimed at building a self-reliant and globally competitive electronics manufacturing ecosystem in India. 🔹 Total outlay of ₹22,919 crore🔹 Focus on Sub-assemblies, Bare & Selected Components, and Capital Equipment🔹 Structured incentives: Turnover-linked, Capex, and Hybrid models🔹 […]
The Reserve Bank of India (RBI) has recently announced a significant amendment to the Master Directions on Compounding of Contraventions under FEMA, 1999. This amendment, issued via circular on April 22, 2025, provides relief to businesses and individuals by capping the maximum penalty amount at INR 2,00,000 for specific types of FEMA contraventions. This move […]