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News 04 February 2026

 

What's New...

 

Trump Announces Trade Deal with India to Reduce Tariffs to 18% from 25%, Spl 25% on Russian Oil to go

US to Cut Tariffs on India to 18%, India Agrees to End Russian Oil Purchases

US and India Reach Tariff Truce

DGTR Issues Preliminary Findings in Anti-Dumping Probe on TB Drug Ethambutol Hydrochloride Imports from China & Thailand

Tariff Value for Gold Down by US$86 per 10 grams and Silver by US$682 per Kg for Customs Valuation

DoT in Policing Mode

108th NPG Meeting Reviews Road Projects to Boost Multimodal Connectivity under PM GatiShakti, No Data on Delays, Quality and Corruption

Semicon India Clears 10 Projects as IT Sector Revenue Reaches USD 283 Billion

India Joins BRICS Centre for Industrial Competencies to Support Manufacturing and MSMEs

2026 Critical Minerals Ministerial: U.S. Leads Global Push to Secure and Diversify Strategic Mineral Supply Chains

Trump Unveils $12 Billion Critical Minerals Stockpile

Which Countries Rely Most on Imports

Tariff Impacts One Year into Trump’s Trade Experiment

Move Fast, but Obey the Rules: China’s Vision to Dominate AI

US Slaps Certificate of Admissibility (COA) on Marine Imports under NOAA Fisheries Marine Mammal Protection Act (MMPA)

Wonder Drug Ostarine Builds Muscles, Enters Sports Arena

Two New Proposals on Agri at WTO but Consensus Eludes

Trade and Climate Links Explored in WTO

WTO Debates Reform to Woo US

 

04.02.2026

Explanatory Notes by D.O. Letter from JS(TRU-I)

Memorandum Explaining the Provisions in the Finance Bill, 2026

Seeks to amend five notifications, in order to extend their validity for a further period of two years till 31st March 2028 and make amendments in notification No. 25/2002-Customs, dated the 1st March, 2002 and notification No. 36/2024-Customs, dated the 23rd July, 2024.

Seeks to further amend notification No. 45/2025-Customs dated the 24th October, 2025 to notify Basic Customs Duty related changes.

Seeks to further amend notification No. 11/2018-Customs, dated the 2nd February, 2018 and notification No.11/2021-Customs, dated the 1st February, 2021 to revise Social Welfare Surcharge (SWS) and Agricultural Infrastructure Development Cess (AIDC) applicable on certain items.

Seeks to amend Notification No. 26/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026.

Seeks to rescind Notification No. 11/2004-Customs dated 08.01.2004 and Notification No. 27/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026.

Seeks to add a new class of eligible importers as ‘Eligible Manufacturer Importers’ under Section 47 of the Customs Act, 1962 for duty deferral facility.

Seeks to amend the Deferred Payment of Import Duty Regulations, 2016 to extend duty deferral facilities for trusted entities from 15 to 30 days.

Seeks to notify the Baggage Rules, 2026.

Seeks to notify the Customs Baggage (Declaration & Processing) Regulations, 2026.

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Seeks to prescribe effective rates of NCCD on chewing tobacco, jarda scented tobacco and other tobacco products.

Seeks to (i) exempt value of Biogas/ Compressed Biogas contained in blended CNG along with appropriate GST paid on it, from the value of such blended CNG for the purpose of calculation of Central Excise duty on such blended CNG and (ii) to defer implementation of levy of additional duty of Rs 2 per litre on unblended diesel till 31st March 2028

Seeks to rescind notification No. 5/2023-Central Excise dated 1.2.2023

Seeks to amend notification no. 03/2025 dated 31.12.2025, to prescribe nil rate on unmanufactured tobacco or tobacco refuse, not bearing a brand name and not packed for retail sale

Seeks to prescribe Chewing Tobacco, Jarda Scented Tobacco and Gutkha Packing Machines (Capacity Determination and Collection of Duty) Amendment Rules, 2026

Clarification on the term RPA (Remote Pilot Aircraft) for military use

Extension of time period under Deferred Payment of Import Duty Rules, 2016 and addition of eligible manufacture importer in class of eligible importers to avail the facility.

Guidelines for uniform implementation of Baggage Rules, 2026.

Onboarding of CDSCO, WCCB, Textile Committee and MeitY on SWIFT 2.0 as Single Touch Point for Trade.

Automation of Customs processes in import and export.

Introduction of system-based e-Scheduling for examination of cargo and mandatory use of Body Worn Cameras (BWC) during examination of import cargo.

 

 

 

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Last Updated on 05-02-2026