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    August 22, 2026
    CGST Zone detects clandestine pan masala, tobacco unit, detects tax evasion of Rs 160 cr
    August 22, 2026
    Korea Industry Expo (KoINDEX) 2026 Opens at Yashobhoomi on 27 August
    August 22, 2026
    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    August 22, 2026
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    August 22, 2026
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
    August 22, 2026
    CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive co...
    August 22, 2026
    India-Finland cooperation takes centre stage at circular economy forum
    August 22, 2026
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the pr...
    August 22, 2026
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
    August 21, 2026
    Rupee settles 3 paise higher at 95.71 against US dollar
    August 21, 2026
    29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
    August 21, 2026
    India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
    August 21, 2026
    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about...
    August 21, 2026
    Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Dir...
    August 21, 2026
    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    August 21, 2026
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    August 21, 2026
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
    August 21, 2026
    India's forex kitty swells USD 9.9 bn to USD 716.9 bn
    August 21, 2026
    Bengaluru airport: AERA slashes user development fee to Rs 300 for domestic passengers
    August 21, 2026
    NUMR Inc. helps deliver Axis Bank's data-driven excellence in customer experience
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    August 22, 2026
    CGST Zone detects clandestine pan masala, tobacco unit, detects tax evasion of Rs 160 cr
    Show AI Summary
    Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
    Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.
    August 22, 2026
    Korea Industry Expo (KoINDEX) 2026 Opens at Yashobhoomi on 27 August
    Show AI Summary
    Trade exhibition connects Korean exporters with Indian buyers through sector-specific consultations and certification guidance for market entry.
    KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
    August 22, 2026
    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    Show AI Summary
    Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
    Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
    August 22, 2026
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    Show AI Summary
    Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
    Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
    August 22, 2026
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a Better Financial Reporting Ecosystem” in Ahmedabad
    Show AI Summary
    Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
    Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
    August 22, 2026
    CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive conduct
    Show AI Summary
    Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
    Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
    August 22, 2026
    India-Finland cooperation takes centre stage at circular economy forum
    Show AI Summary
    Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
    India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
    August 22, 2026
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the procurement of tyres
    Show AI Summary
    Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
    Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
    August 22, 2026
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
    Show AI Summary
    Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
    Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
    August 21, 2026
    Rupee settles 3 paise higher at 95.71 against US dollar
    Show AI Summary
    Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
    Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
    August 21, 2026
    29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
    Show AI Summary
    Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
    Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
    August 21, 2026
    India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
    Show AI Summary
    Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
    Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
    August 21, 2026
    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about ₹185 crore detected
    Show AI Summary
    Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
    Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
    August 21, 2026
    Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Directors, MDs and CEOs of Urban Co-operative Banks in Telangana, Hyderabad on August 7, 2026
    Show AI Summary
    Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
    Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
    August 21, 2026
    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026] - Keynote Address delivered by Shri Rohit Jain, Deputy Governor on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026
    Show AI Summary
    Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
    Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
    August 21, 2026
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    Show AI Summary
    Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
    Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
    August 21, 2026
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
    Show AI Summary
    Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
    Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
    August 21, 2026
    India's forex kitty swells USD 9.9 bn to USD 716.9 bn
    Show AI Summary
    Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
    India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
    August 21, 2026
    Bengaluru airport: AERA slashes user development fee to Rs 300 for domestic passengers
    Show AI Summary
    Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
    User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
    August 21, 2026
    NUMR Inc. helps deliver Axis Bank's data-driven excellence in customer experience
    Show AI Summary
    Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
    Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.

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      Home› news › Customs, DGFT & SEZ › 2011 › April, 2011 › This
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      Customs, DGFT & SEZ

      Creation of seven posts of Indirect Tax Ombudsman

      April 1, 2011

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      Press Information Bureau

      Government of India

      Cabinet

       31-March-2011 18:21 IST

      Creation of seven posts of Indirect Tax Ombudsman

      The Union Cabinet today approved creation of seven posts of Indirect Tax Ombudsman to be located at Delhi, Mumbai, Chennai, Calcutta, Bangalore, Ahmedabad and Lucknow in the HAG + scale of Rs.75,500-80,000/- and the supporting staff. The Indirect Tax Ombudsman Guidelines, 2011 has also been approved.

      The Indirect Tax Ombudsman shall have powers to receive complaints from tax payers on indirect tax matters and consider such complaints and facilitate their satisfaction or settlement by agreement through conciliation and mediation between the Customs, Central Excise and Service Tax department and the aggrieved parties or by passing an 'Award’ in accordance with the Guidelines.

      It is expected that this will result in making the grievance redressal mechanism in the Customs, Central Excise and the Service Taxes offices under the CBEC more effective and transparent.

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