Tariff value fixation establishes import valuation rates for specified edible oils, metals and agricultural commodities under Customs authority.
The Central Board of Indirect Taxes & Customs, exercising authority under the Customs Act, substitutes revised TABLE-1, TABLE-2 and TABLE-3 into Notification No. 36/2001-Customs (N.T.), fixing specified tariff values for listed imports including edible oils, brass scrap, poppy seeds, areca nuts and unit values for gold and silver in designated forms, with explanatory provisos and cross-reference to earlier amendments.

Double tax agreement talks intensified to address offshore income taxation under the India-Australia treaty framework.
The Joint Ministerial Commission agreed to revive negotiations on a Comprehensive Economic Cooperation Agreement, harmonise product standards and regulatory barriers, pursue reciprocal market access and investment promotion including engagement with Australian superannuation funds, and advance mutual recognition of educational qualifications and improved air connectivity. The Commission also agreed to intensify discussions to resolve concerns about taxation of offshore income under the India Australia Double Taxation Avoidance Agreement.

Tariff valuation tables amended under Customs Act to substitute tariff value tables for specified imported goods.
The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, 1962, substitutes TABLE 1, TABLE 2 and TABLE 3 of Notification No. 36/2001 Customs (N.T.) to prescribe tariff values for specified imports. The new tables list tariff values for items such as crude palm oil, RBD palm oil, palmolein variants, crude soya bean oil, brass scrap, poppy seeds, areca nuts and specified forms of gold and silver, with the entries indicating no change to the stated tariff values.

Mandatory company registrations consolidated in a single integrated web form to streamline incorporation and related compliance.
SPICe+ centralises incorporation by combining name reservation (Part A) with a bundled set of services (Part B) including incorporation, DIN allotment, mandatory PAN and TAN issuance, and GSTIN allotment if applied for, while providing on-screen filing and real-time validation. EPFO and ESIC registration are mandatory and issued through the integrated process; Profession Tax registration is mandatory for incorporations in the specified State, and company bank account opening must be applied for via the linked AGILE-PRO form.

Groundwater management financing supports community-led Water Security Plans and channels funds to local governments for implementation.
The Government of India and the World Bank executed an IBRD loan to finance the Atal Bhujal Yojana, targeting groundwater depletion and institutional strengthening across seven states and 78 districts. The programme funds aquifer recharge, water harvesting, crop alignment, micro irrigation, and technology enabled monitoring; establishes community led Water Security Plans and water budgets; and channels a large portion of funds to local governments as performance linked incentives while retaining funds for technical assistance and institutional capacity building.

Tariff values updated for specified imported commodities, fixing benchmark customs valuation rates for listed goods under customs authority.
Substitution of TABLE-1, TABLE-2 and TABLE-3 in Notification No. 36/2001-Customs (N.T.) fixes revised tariff values in US dollars for listed imported goods - including specified palm and soyabean oils, brass scrap, poppy seeds, areca nuts, and unit values for specified forms of gold and silver - for customs valuation purposes under section 14(2) of the Customs Act, 1962, thereby updating the benchmark valuation schedule in the principal notification.

Search and seizure detected unaccounted income leading to investigations of bogus entities and layered transactions and restraints on bank lockers.
A coordinated search and seizure across multiple premises of infrastructure groups uncovered unaccounted income generated through bogus sub-contractors, over-invoicing and layered transactions. Investigators found shell entities, electronic evidence linking filings to principal company IP addresses, suspected round-tripping of foreign receipts, and seized unexplained cash, jewellery and restrained multiple bank lockers.

Principal Purpose Test strengthened in tax treaty amendments to prevent treaty abuse and curb treaty shopping.
A protocol was approved to amend the DTAA by updating the treaty preamble and inserting a Principal Purpose Test as a general anti abuse provision to meet BEPS Action 6 minimum standards. Because the counterparty is not a signatory to the MLI, the amendment will be effected bilaterally through signing and ratification to prevent treaty abuse and curb tax planning that exploits rule mismatches.

Institution renaming: National Institute of Financial Management officially redesignated to honor Arun Jaitley, reflecting institutional legacy alignment.
The Government has effected the administrative renaming of the National Institute of Financial Management (NIFM), Faridabad as the Arun Jaitley National Institute of Financial Management. NIFM, constituted as a registered society under the Department of Expenditure, Ministry of Finance, is mandated to train officers of central finance and accounts services and to provide capacity building in Public Policy, Financial Management, Public Procurement and related governance areas while also offering AICTE approved management programmes.

Search and seizure on film-industry figures uncovers alleged undisclosed cash and documents; investigations and forensic scrutiny ongoing.
Income-tax authorities conducted coordinated search and survey actions on premises of four film-industry participants, recovering seized unaccounted cash and original documents including property papers, promissory notes and post-dated cheques; evidence suggests substantial undisclosed receipts. Forensic scrutiny is focused on office accounts, actual receipts and expenses, artist remuneration and immovable property investments, with searches and detailed examination of seized material ongoing to determine the extent of alleged concealment.

Policy repo rate maintained; accommodative stance to revive growth while monitoring inflation pressures and liquidity support preserved.
The MPC kept the policy repo rate unchanged and retained an accommodative stance to revive growth while ensuring inflation remains within the target. This balance responds to a weak domestic economy and negative output gap on the one hand, and an elevated near-term inflation outlook driven primarily by a food price spike and cost-push factors on the other. The Committee noted ample liquidity, improving monetary transmission, and external risks including geopolitical tensions and the coronavirus, and will monitor data to guard against generalisation of inflationary pressures.

Industrial park scheme establishes eligibility and approval framework for developing and operating industrial parks and centralised reporting.
The Industrial Park Scheme sets eligibility for undertakings to develop, operate, or maintain industrial parks-including industrial model towns, built-up parks, and Growth Centres-and prescribes that approvals are considered under Central Board notification while park details are recorded by States/UTs in a central Industrial Information System for consolidated reporting.

Customs tariff amendments reshape exemptions and trade remedy procedures, updating anti dumping, countervailing and safeguard rules.
Amendments to customs tariff notifications modify tariff classifications, rescind specified prior notifications, and adjust exemption provisions for medical and related uses. Complementary non tariff rule changes update procedural rules for identification, assessment and collection of countervailing and anti dumping duties, and amendments to safeguard duty rules, thereby altering substantive tariff treatment and trade remedy procedures under the customs framework.