Tariff changes, customs valuation rules, and duty drawback updates.
The Supreme Court has quashed a ₹425.27 crore Customs penalty after finding the adjudicating officer relied on non-existent, fake-cited and AI-hallucinated case law — the third such ruling Finoscape has covered in 2026.
Supreme Court Quashes ₹425-Crore Customs Penalty Built on AI-Hallucinated Case Law Read Post »
CBIC’s Circular Nos. 39/2026 and 40/2026-Customs, both dated 3 September 2026, cut EMI Scheme application documents from 10 to 3 and prescribe mandatory Residual Shelf Life and licensing checklists for importing cosmetics, drugs and medical devices.
CBIC’s Circular No. 41/2026-Customs launches the National Assessment Centre Portal (naccustoms.gov.in), a common digital repository of NAC decisions, CAAR rulings and classification guidance aimed at reducing inconsistent Customs assessment across ports.
CBIC Launches National Assessment Centre Portal for Uniform Customs Assessment Read Post »