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HomeNotificationFinance Bill 2026: CBIC Issues Comprehensive Set of Customs, Excise Notifications and...

Finance Bill 2026: CBIC Issues Comprehensive Set of Customs, Excise Notifications and Circulars Effective February 2026

Notification

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By Mariya Paliwala
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The Union Government has initiated the implementation framework for the Finance Bill, 2026, with the Central Board of Indirect Taxes and Customs (CBIC) issuing a detailed communication outlining a series of tariff and non-tariff notifications, circulars, and legislative changes across Customs and Central Excise.

In a letter dated 1 February 2026, addressed to all Principal Chief Commissioners, Chief Commissioners, and senior field formations, J.S. Kandhari, Joint Secretary (TRU-I), Ministry of Finance, informed that the Finance Minister has formally introduced the Finance Bill, 2026 in the Lok Sabha, proposing significant changes in indirect tax laws.

Multiple Notifications Issued Across Customs and Central Excise

The CBIC confirmed that several statutory notifications and circulars have been issued concurrently with the presentation of the Finance Bill to operationalise proposed changes.

Under Customs Duty, the following Tariff Notifications have been notified:

  • Notification Nos. 01/2026-Customs to 05/2026-Customs, all dated 1 February 2026

Similarly, under Central Excise, the following Tariff Notifications have been issued:

  • Notification Nos. 01/2026-Central Excise to 03/2026-Central Excise, dated 1 February 2026

In addition, the Government has issued Non-Tariff Notifications (NT) under Customs, namely:

  • Notification Nos. 12/2026-Customs (NT) to 15/2026-Customs (NT)

To provide operational clarity, Customs Circulars have also been released:

  • Circular Nos. 02/2026-Customs to 04/2026-Customs

All the above instruments have been issued with effect from 1 February 2026, unless otherwise specified.

Effective Dates and Provisional Collection of Taxes

The CBIC clarified that, unless expressly stated, all changes in duty rates take effect from 2 February 2026, in accordance with the Provisional Collection of Taxes Act, 2023.

However, certain provisions of the Finance Bill, 2026 have been accorded retrospective or immediate effect, taking effect from the midnight of 1 February and 2 February 2026. Other legislative amendments will come into force upon enactment of the Finance Bill or from 1 April 2026 or 1 May 2026, as specifically provided in the Bill.

Click Here To Read Notification

Read More: Transfer of Business as a Going Concern Is Not Taxable ‘Supply’ Under GST: AP HC

Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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