How to read this timeline
The table brings together the two lists of recent changes in the source material: eight changes since November 2025 that affect how a foreign company enters India, and seven changes since July 2025 that affect its tax position. Entries are in date order.
FDI changes announced by Press Note take legal effect only when the FEMA rules are amended, so both dates are shown where they differ. Budget measures take effect only when enacted, and several depend on rules or notifications. For changes after 1 October 2026, see updates.
Timeline, July 2025 to September 2026
| Date | Change | Effect | Source |
|---|---|---|---|
| Jul 2025 | Supreme Court: Hyatt has a fixed place PE in India | Control over Indian hotels’ operations under a strategic oversight agreement created a fixed place PE under Article 5(1) of the India–UAE treaty. Groups that oversee Indian operations should test their PE exposure | Supreme Court (EY, 28 Jul 2025) |
| 22 Sep 2025 | GST moves to two main rates, 5% and 18% | Approved by the 56th GST Council on 3 September 2025, with a 40% rate for a select few goods and services. Tobacco products were initially kept on earlier rates and compensation cess | PIB, 56th GST Council (3 Sep 2025) |
| 1 Nov 2025 | GST registration in three working days for low-risk applicants | Applicants whose tax on supplies to registered persons stays within ₹2.5 lakh a month, and other low-risk applicants, can opt for automated registration within three working days | Tribune/ANI and KPMG (secondary) |
| 21 Nov 2025 | Four Labour Codes take effect, consolidating 29 labour laws | Wages, industrial relations, social security and workplace safety now sit in four codes. Draft central rules followed on 30 December 2025. Review contracts, pay structures and registrations | PIB, 21 Nov 2025 |
| 17 Dec 2025 | e-B-4 production investment visa sponsorship goes online | The e-B-4 visa replaces the e-PLI visa for foreign specialists in production work, notably installing and commissioning equipment. Indian companies now issue sponsorship letters online | India Briefing, 18 Dec 2025 (secondary) |
| Jan 2026 | Supreme Court: Tiger Global denied Mauritius treaty relief | GAAR and the treaty override, in force from 1 April 2017, applied to shares bought before that date but sold after it; the structure was treated as an impermissible avoidance arrangement | KPMG and Khaitan & Co (Jan 2026) |
| 1 Feb 2026 | Budget 2026-27 | Proposed a final 14% MAT, capital-gains treatment of buy-backs, a 15.5% IT safe harbour, a data-centre exemption to 2047 and a longer IFSC deduction, from tax year 2026-27. Enacted by the Finance Act 2026 on 30 March 2026 | Budget speech 2026-27; Finance Act 2026 |
| 9 Feb 2026 (legal effect 2 May 2026) | Press Note 1: insurance opened to 100% under the automatic route | Subject to IRDAI verification; one of the chairperson, managing director and CEO must be a resident Indian citizen. Legal effect came with the FEMA rules amendment published on 2 May 2026 | DPIIT Press Note 1 (2026 Series) |
| Feb 2026 | External commercial borrowing rules liberalised | Limit raised to the higher of USD 1 billion of outstanding ECB or total borrowings of 300% of net worth. The cost ceiling is removed for ECBs of three years or more; shorter ECBs (manufacturers, up to USD 150 million) follow the trade-credit ceiling | RBI Notification FEMA 3(R)(5)/2026-RB, 9 Feb 2026; S&R Associates (secondary) |
| 15 Mar 2026 (legal effect 2 May 2026) | Press Note 2: land-border rule clarified and partly eased | Beneficial ownership is tested under anti-money-laundering rules (for a company, more than 10%, or control). Below that, the automatic route applies with prior reporting. In legal effect from the FEMA rules amendment published on 2 May 2026 | DPIIT Press Note 2 (2026 Series) |
| 1 Apr 2026 | Income-tax Act 2025 and Finance Act 2026 take effect | The 2025 Act replaced the 1961 Act. The Finance Act 2026 (assent 30 March 2026) confined the extra promoter tax to Companies Act buy-backs and raised the start-up turnover limit | Finance Act 2026; RSM and BDO (secondary) |
| 12 Jun 2026 | Any non-resident individual may now buy listed Indian shares | The portfolio route once limited to NRIs and OCIs is open to all foreign individuals without FPI registration, below 10% each and 24% in aggregate | RBI Master Direction, Jun 2026 |
| 23 Jul 2026 (in force 3 Sep 2026) | Press Note 3: inventory e-commerce permitted for exports | Marketplace entities with FDI may hold inventory to export goods made in India; domestic inventory sales stay barred. FEMA rules amended by S.O. 4870(E) of 2 September 2026, in force from 3 September 2026 | DPIIT Press Note 3 (2026 Series); EY and India Briefing (secondary) |
| 17 Aug 2026 | Taxation and Other Laws (Amendment) Act 2026 | Replaces the June 2026 ordinance, deemed in force from 1 April 2026: an exemption for FIIs’ interest and gains on government securities (subject to prescribed reporting), wider data-centre and electronics exemptions, and an easier offshore-fund safe harbour | KSMG (Aug 2026) |
| 30 Sep 2026 | RoDTEP export remission continued to 31 December 2026 | DGFT Notification 41/2026-27 continues the scheme to 31 December 2026. Notification 74/2025-26 had kept rates and value caps unchanged for exports from 1 April to 30 September 2026 | DGFT Notifications 74/2025-26 and 41/2026-27 |
Where each change is covered
- Press Notes 1 to 3, the land-border rule and ECB: FDI routes and caps, land-border investors and the FEMA compliance calendar.
- Labour Codes and the e-B-4 visa: Labour Codes and visas and expatriates.
- GST: GST and customs.
- Budget 2026-27, the Finance Act 2026 and the amending Act: Budget 2026-27 and the 2026 Act and the Income-tax Act 2025.
- Hyatt and Tiger Global: international tax.
- RoDTEP and other scheme status: central schemes and the incentive tracker.
Check: Draft Foreign Investment Rules to replace the NDI Rules were released for consultation from 21 July to 31 August 2026. Their final form may change several of the entries above.