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August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
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Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
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Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
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August 27, 2026
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Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
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Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
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August 27, 2026
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Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
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PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
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Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.
August 27, 2026
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Cyber fraud awareness promotes safe digital banking by teaching customers to verify communications, protect credentials, and report suspicious transactions.
Cyber-fraud awareness and digital banking safety were promoted through community sessions addressing phishing, impersonation, OTP and UPI fraud, QR-code scams, digital-arrest fraud, and fraudulent customer-care calls. Participants were guided to identify authentic banking communications, avoid sharing confidential credentials, verify callers and links before acting, and promptly report suspected unauthorised transactions. Customer vigilance, financial literacy, and institutional security measures were emphasised as complementary safeguards against digital financial fraud.
August 27, 2026
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Personal insolvency repayment plans may be approved despite minimal creditor recovery when requisite voting support and comparative valuation support them.
Personal insolvency repayment plan approval was granted under the Insolvency and Bankruptcy Code, 2016, despite objections that creditor recoveries were negligible and the proposed payment uncertain. The plan received 80.81 per cent voting support, while dissenting creditors held less than 20 per cent voting share. Valuation showed that the debtor's personal estate was materially below the offered amount, and rejection could result in bankruptcy and lower recovery. Assessment of settlement adequacy was treated as a matter of creditor commercial wisdom.
August 27, 2026
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Prison escape security lapses prompt coordinated tracing measures, transport monitoring, inter-state alerts, and a detailed custodial-security inquiry.
Prison escape and custodial-security lapses arose after a detainee escaped from Aluva Sub Jail, allegedly by using an under-construction structure within the premises to cross the compound wall. Following his later appearance at a police station seeking return of his Aadhaar card, search measures included a lookout circular, information sharing with police stations, railway-security coordination, and alerting police in Assam. A detailed inquiry has been initiated into the prison-security deficiencies enabling the escape.
August 27, 2026
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Women's savings account selection depends on practical benefits, charges, eligibility, and banking needs rather than the account label.
Women's Savings Accounts may provide standard banking facilities together with additional services or benefits for eligible women. Their suitability depends on practical use of digital banking, transfers, payments, alerts, debit-card facilities, accessibility, security features, charges, and minimum-balance conditions. Since regular Savings Accounts may offer comparable facilities, the additional benefits should be assessed against associated costs and conditions. Selection should be based on comparison of eligibility, facilities, balance requirements, benefits, customer support, and authentication safeguards rather than the account's women-focused label alone.
August 27, 2026
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Retirement annuity selection prioritises payout structure, taxation, insurer strength and flexibility over brand comparison for informed retirement decisions.
Retirement planning may combine market-linked accumulation during working years, deferred annuities that lock future guaranteed income, and immediate annuities that convert retirement savings into regular payments. Annuity choice depends on whether the priority is higher income, continuation for a surviving spouse, or return of capital on death. Product comparison should consider market-linked growth versus income certainty, taxation of annuity income at applicable slab rates, insurer strength, and flexibility in deferment, payout frequency and policy loans.
August 27, 2026
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Foreign exchange inflows through deposit and borrowing measures provided near-term rupee support amid lower crude prices.
Reserve Bank special measures relating to FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings were identified as attracting foreign-exchange inflows and providing near-term support to the rupee. The Reserve Bank became a net dollar buyer in June after two months of sales to support the rupee. The FCNR(B) window remained open until August 31, while the market outlook anticipated broader rupee depreciation over subsequent weeks.
August 27, 2026
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Preferential trade agreement exploration advances bilateral market access, pharmaceutical cooperation, investment partnerships, and diversified trade.
India-Morocco economic cooperation is expanded through the seventh Joint Commission framework, targeting deeper and more diversified trade, investment, industrial collaboration and market access across goods and services. An India-Morocco Joint Working Group is to examine bilateral trade opportunities and the feasibility of a preferential trade agreement, including tariff and non-tariff barriers, improved market access and trade facilitation. Cooperation also addresses pharmaceutical market authorisation and approval timelines, food safety, sustainable agriculture, renewable energy, artificial intelligence, healthcare, and phosphates and fertilisers.

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FAQ ON KERALA FLOOD CESS

August 1, 2019

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1. Why Kerala Flood Cess is imposed?

Ans. Kerala Flood Cess is levied to raise the fund required for re-construction of State after the devastating flood occurred in the State during August 2018.

2. Which is the date of commencement of Kerala Flood Cess?

Ans. Kerala Flood Cess is applicable from the 1st August, 2019 onwards as per notification No. S.R.O. 436/2019 dated 29/06/2019 for a period of two years.

3. Kerala Flood Cess levied under which Law?

Ans. Kerala Flood Cess is levied under Section 14 of Kerala Finance Act, 2019. The Kerala Flood Cess Rules published vide Notification SRO. No.359/2019 published as G.O.(P) No.80/2019/TD dated 25-05-2019.

4. Whether levy of Kerala Flood Cess is approved by GST Council?

Ans. Yes. 32nd meeting of the GST council has accorded sanction to levy of Kerala Flood Cess.

5. How long the Kerala Flood cess will be collected and at what rate?

Ans. Kerala Flood Cess will be in force for a period of two years from the date of commencement. Kerala Flood Cess is imposed @ 1% on the value of supply of goods or services or both coming under Schedule II, III & IV of SRO.No.360/2017 Dt. 30.06.2017. But in the case of goods coming under Fifth Schedule of SRO.No.360/2017 (gold, diamond etc.), the Kerala Flood Cess is applicable at the rate of 0.25%.

6. Is any separate registration required for the payment of Kerala Flood Cess?

Ans. No. GSTIN will be treated as Registration Number for Kerala Flood Cess. The tax payer has to login the official website “www.keralataxes.gov.in” to generate user ID and password. While entering GSTIN number, one time password (OTP) will be sent to the mobile number of authorized representative for creating used ID and password. After login to the system, tax payers shall furnish the details of turnover applicable for Kerala Flood Cess and make e-Payment of Kerala Flood Cess. Detailed procedure for the filing of return will be released separately.

7. When Kerala Flood Cess is to be remitted to Government?

Ans. As per GST Law, the tax due for a month has to be remitted on or before 20th of the succeeding month in GSTR 3B return. Due date for filing GSTR 3B shall be applicable for the Kerala Flood Cess return.

8. What are the details to be furnished in the return?

Ans. After login to the system, select the return period and enter the details of turnover of outward supply leviable under Kerala Flood Cess based on GST tax rates.

9. Whether Kerala Flood Cess is applicable to goods and services?

Ans. Yes. Kerala Flood Cess is applicable to goods and services or both as per Section 14 (2) of Kerala Finance Act, 2019.

10. Kerala Flood Cess is to be calculated on which value?

Ans. Kerala Flood Cess is to be calculated on the value of supply. The CGST and SGST collection shall not be included in the value of supply. Eg:- If the value of supply is ₹ 100/- and tax rate of the commodity is 12% GST, the invoice to be raised as shown below:

            Value of supply           -  ₹ 100/-

            CGST                          -   ₹ 6/-

            SGST                          -   ₹ 6/-

            Cess                             -  ₹ 1/-

            Total sales value          - ₹ 113/-

As per SRO.No.434/2019 Dt. 28.6.2019 Rule 32A is incorporated in Kerala Goods and Services Tax Rules 2017 to clarify value of supply. As per this rule, the value of supply of goods or services or both on which Kerala Flood Cess is levied under clause 14 of the Kerala Finance Bill, 2019 shall be deemed to be the value determined in terms of Section 15 of the Act, but shall not include the said cess.

11. Whether Kerala Flood Cess is applicable for interstate supply?

Ans. No. Kerala Flood Cess is applicable only for intra-state supply.

12. Whether supply to registered taxpayer in Kerala attracts Kerala Flood Cess?

Ans. No, if the supply is made in furtherance of business. Supply of Goods or Services or both made by a taxable person in the State to another taxable person having Goods and Service Tax Registration in the State shall be leviable to Cess, if the supply is made not in furtherance of business.

13. Whether Kerala Flood Cess is applicable for supply of exempted goods or services?

Ans. No.

14. Whether tax payers opting composition scheme is liable to pay Kerala Flood Cess?

Ans. Composition tax payers are exempted from the levy of Kerala Flood Cess as per Section 14(1)(i) of Finance Act,2019.

15. What are the items exempted from the levy of Kerala Flood Cess?

Ans. The goods or services or both leviable to Kerala Flood Cess are described in Sec.14(2) of Kerala Finance Act, 2019. All goods or services or both not covered in the above Section shall be exempted from levy of Kerala Flood Cess.

16. Whether Kerala Flood Cess is collectable from customers?

Ans. Yes. It can be collected from customers by showing separately in the invoices.

17. Whether the Kerala Flood Cess is to be separately disclosed in the bill / invoice or a it can be borne and paid by the tax payer from their margin?

Ans. SGST Rule 46 (l) & (m) regarding issue of tax invoice is applicable in the case of Kerala Flood Cess also. Hence subject to conditions applicable to issue of invoice under the same Rule shall be applicable to Kerala Flood Cess also. Therefore as per Rule the Invoice shall contain details of Kerala Flood Cess like rate of tax and amount of tax charged in respect of taxable goods or services.

18. Whether purchase of motor vehicles for own use of a tax payer is eligible for exemption from levying Kerala Flood Cess?

Ans. No. Since the supply is not in furtherance of business.

19. At which point of supply cess is to be imposed?

Ans. Transaction between tax payers in furtherance of business is exempted from levy of Kerala Flood Cess. If a supply is made to an unregistered tax payer, Kerala Flood Cess is to be levied. If the supply is made to a registered person but not in furtherance of business, Kerala Flood Cess is to be levied.

20. Whether interest is applicable for delayed payment of Kerala Flood Cess?

Ans. Yes. The provision of Kerala Goods and Services Tax Act, 2017 and Central Goods and Services Tax Act, 2017 and Rules made there under including those relating to definitions, authorities, assessments, audit, non-levy, short levy, interest, appeal, recovery, offenses and penalties shall apply in relation of levy of collection of Kerala Flood Cess. Interest @ 18% will be applicable for delayed payment of Cess.

21. Whether a person situated outside Kerala having registration outside Kerala and receiving inward supply of service or goods or both where the place of supply is in Kerala will be chargeable Cess?

Ans. Yes, Exemption is eligible only for registered taxable person having GST registration in Kerala GST.

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