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General CorporateAll Industries+1

Widening the gate of Indian Economy: Key changes under the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026

The Ministry of Finance (Department of Economic Affairs) on 12 June 2026, notified the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 (‘Amendment Rules’), amending the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (‘NDI Rules’). The Amendment Rules constitute the third amendment in the FEMA liberalisation cycle for the year 2026, following the first and second amendments, which respectively relaxed restrictions on investments from countries sharing a land border with India and liberalised foreign investment in the insurance sector opening the sector up till 100% under automatic route. The third amendment is yet another attempt to widen the gate for the Indian economy. For years, access to India's listed securities market was reserved specially for a defined class amongst which are foreign portfolio investors (FPIs) and non-resident Indians (NRIs) and overseas citizens of India (OCIs), this time the liberalisation is into the Indian capital markets.

Aman Gupta04 Aug 2026
EU’s 2026 Steel TRQ Regulation: From temporary safeguards to permanent industrial policy?
International Trade and WTOMetals

EU’s 2026 Steel TRQ Regulation: From temporary safeguards to permanent industrial policy?

The 2026 Steel import Regulation of the European Union (EU) (‘2026 Regulation’),[1] which came into force on 1 July 2026, is not simply a continuation of earlier Steel Safeguard measures[2] applicable since 2018, but it indicates a decisive shift in the EU’s approach to regulate its steel imports in the coming years. With lowering of tariff-rate quotas (TRQs), higher out-of-quota duties and proposal for stricter origin requirements, the 2026 Regulation goes beyond the WTO’s temporary safeguard regime to a more permanent industrial policy governing steel imports into the EU. In particular, the 2026 Regulation reduces the EU's tariff-free steel quota by ~47%, doubles the out-of-quota duty from 25% to 50%, and introduces a new ‘melt and pour’ traceability requirement.

10 Jul 2026
Jurisdiction of Principal Bench of GST Appellate Tribunal: Statutory framework and early judicial signals
GST & Indirect Tax LitigationAll Industries

Jurisdiction of Principal Bench of GST Appellate Tribunal: Statutory framework and early judicial signals

Various State Benches of the Goods and Services Tax Appellate Tribunal (‘GSTAT’) have recently become operational, and questions relating to jurisdiction between the Principal Bench and the State Benches have begun to arise in practice. While Section 109 of the CGST Act specifies certain categories of cases to be dealt with exclusively by the Principal Bench, early orders of the Principal Bench indicate that jurisdictional issues are not always straightforward.

Shreyash Agrawal+101 Jul 2026

Search Articles

  • Economic OffencesAll Industries

    Laws related to economic offences – A primer

    In India, there is no legislation as such that defines an ‘economic offence’. Economic offences encompass all crimes which occur during the course of any economic or business activity.

    Dinesh Babu Eedi17 Jan 2022
  • All PracticesAll Industries

    Finance Ministry’s decision not to impose anti-dumping duty – Blurred lines

    Recently, the CESTAT (‘Tribunal’) had allowed an appeal against the Finance Ministry’s decision rejecting the Designated Authority’s recommendation to impose anti-dumping duty (‘ADD’) on imports of Choline Chloride originating in or exported from China PR. This decision of the Tribunal is significant as it is for the first time an appeal has been allowed against such a decision of the Finance Ministry.

    27 Dec 2021
  • Direct TaxAll Industries

    Taxability of interest on provident funds

    Provident funds, for the purpose of the Income Tax Act, 1961 (‘IT Act’) can broadly be classified into three classes. First are Statutory Provident Funds, which are established under the Provident Fund Act, 1925 for employees working in Government or Semi-Government organizations, etc.

    Samyak Navedia22 Dec 2021
  • Intellectual PropertyAll Industries+4

    Demystifying the scope of amendments in patent claims – Indian jurisdiction

    Amendments to a patent application form an essential element in demarcating the scope of inventions. In India, claim amendments are governed by Sections 57 to 59 of the Patents Act, 1970 (hereinafter referred to as the ‘Act’).

    Malathi Lakshmikumaran20 Dec 2021
  • GST ConsultancyTextile

    Taxing times ahead for textile sector?

    The textile sector has recently been in news for various good reasons. The Government is leaving no stone unturned in providing conducive ecosystem to explore the textile industry’s competitive and comparative advantage.

    Ravi Raghavan20 Dec 2021
  • All PracticesAll Industries

    SEBI’s new norms for related party transactions – An overview

    In this article, we will be reviewing the changes made by Securities and Exchange Board of India (‘SEBI’) in the related party transaction (‘RPT’) regime for listed entities. On 9 November 2021, SEBI issued the SEBI (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2021 (‘Amendment Regulations’),

    16 Dec 2021
  • Intellectual PropertyAll Industries+4

    What’s in domain?

    Technological globalization, on account of its international, economical, and accessible character, has forced businesses to shift their business models from physical markets to electronic commerce (e-commerce) portals. In such a scenario, domain names, i.e., the user-friendly form of websites’ IP addresses, form an integral part of businesses as their identifiers in the realm of e-commerce.

    26 Nov 2021
  • Competition & AntitrustAll Industries

    Leniency

    The wave of dawn raids by Competition Commission of India (“CCI”) has yet again shown its result in the form of the recent decision of CCI, which found three beer companies to be operating an all-India cartel. In an order dated 24.09.2021 , CCI found United Breweries Limited (“UBL”), Carlsberg India Private Limited (“Carlsberg”),

    Neelambera Sandeepan26 Nov 2021
  • GST ConsultancyAll Industries

    Margin Scheme – Few unanswered issues

    Generally, GST is payable on the transaction value which is the price paid or payable for the supply of goods and services when transaction takes place between un-related persons and price is the sole consideration for supply. However, a registered person may at his option, discharge tax on sale of used or second-hand goods on the margin amount which is the difference between selling price and purchase price of the goods.

    25 Nov 2021
  • All PracticesAll Industries

    TAX AMICUS- NOV 2021

    Import of goods originating from Sierra Leone will avail duty free tariff preference - Notification 50/2021-Customs dated 22.10.2021 has amended Notification No. 96/2008-Customs dated 13.08.2008 issued for duty free tariff preference for Least Developed Countries to include Sierra Leone as one of the Least Developed Countries.

    25 Nov 2021
  • General CorporateAll Industries

    Special Purpose Acquisition Companies (SPACs): Are we ready to launch the SPAC-ship?

    Although the inception of modern Special Purpose Acquisition Companies (‘SPACs’) started in the United States in the early 1990s, the recent spike in this phenomenon has undoubtedly taken the markets by storm. A current favourite for companies intending to go public is by way of SPACs. They are commonly referred to as ‘blank cheque entities’ or ‘shell companies’ because they raise capital from an initial public offering (‘IPO’) to acquire an unspecified operating business.

    Vidhi Madan23 Nov 2021
  • International Trade and WTOAll Industries

    Anti-absorption provisions: New tool for strengthening trade remedial measures

    In Budget 2021-22, the Finance Minister announced the introduction of statutory provisions to check absorption of anti-dumping duty (‘ADD’) and countervailing duty (‘CVD’) measures imposed by the Central Government. These provisions were inserted into Section 9 and Section 9A of the Customs Tariff Act, 1975.

    Aayush Rastogi22 Nov 2021
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