{"act":{"id":"finance-act-2026","short_title":"The Finance Act, 2026","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2026-2027.","act_number":"4","act_year":2026,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":167,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2026/"},"unit":"section","section":{"number":"149","heading":"Insertion of new section 56A","text":"Insertion of new section 56A. 149. After section 56 of the Customs Act, the following section shall be inserted, namely:— \"56A. Special provision for fishing and fishing related activities.— (1) Notwithstanding anything contained in this Act or in any other law for the time being in force, fish harvested by an Indian-flagged fishing vessel beyond territorial waters of India,— (a) | may be brought into India free of duty; (b) | that has landed at foreign port may be treated as export of goods, in such manner and subject to such conditions as may be provided by rules. (2) The Board may make regulations providing for the form and manner of making an entry in respect of fish harvested including its declaration, custody, examination, assessment of duty, clearance, transit or transhipment.\".","html":"<p><b>Insertion of new section 56A.</b></p><p><b>149.</b> After section 56 of the Customs Act, the following section shall be inserted, namely:—</p><p>\"56A. <i>Special provision for fishing and fishing related activities.</i>— (1) Notwithstanding anything contained in this Act or in any other law for the time being in force, fish harvested by an Indian-flagged fishing vessel beyond territorial waters of India,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>may be brought into India free of duty;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>that has landed at foreign port may be treated as export of goods,</td></tr></table></div><p>in such manner and subject to such conditions as may be provided by rules.</p><p><span class=\"num\">(2)</span> The Board may make regulations providing for the form and manner of making an entry in respect of fish harvested including its declaration, custody, examination, assessment of duty, clearance, transit or transhipment.\".</p>","words":131,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/149/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}