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    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
    Shri Piyush Goyal Invites Indian and Uzbek Businesses to Co-invest and Co-manufacture; Calls for Doubling Bilateral Trade at India-Uzbekistan Business...
    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
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    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
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August 3, 2026
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Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
August 3, 2026
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Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
August 3, 2026
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Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
August 3, 2026
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Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
August 3, 2026
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Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
August 3, 2026
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Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
August 3, 2026
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Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
August 3, 2026
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MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
August 3, 2026
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Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
August 3, 2026
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Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
August 3, 2026
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Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
August 3, 2026
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Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
August 3, 2026
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Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
August 3, 2026
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Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
August 3, 2026
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Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
August 2, 2026
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Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
August 2, 2026
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Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
August 1, 2026
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GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
August 1, 2026
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Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
August 1, 2026
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Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.

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News and Press Release

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 - FAQs

October 31, 2019

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Q. 1 I have received an intimation for audit, enquiry or investigation on or before 30.06.2019. Can I make a voluntary disclosure of my liability?

Ans. No. If an intimation for audit, enquiry or investigation has been received by you on or before 30.06.2019 then you cannot make a voluntary disclosure of your liability under the Scheme.

Q. 2 Can taxpayer opt for the benefit under the Scheme in case of periodical notices without opting for it in respect of the main notice?

Ans. Yes.

Q. 3 If the main noticee avails benefit of the Scheme whether Directors whose appeals are pending in respect of penalty only get a waiver of the penalty?

Ans. Once the main noticee discharges the duty/tax demand, the co-noticees can avail the benefits under the Scheme.

Q. 4 If a person has been issued a SCN for a refund/ erroneous refund and, at the same time, he also has other outstanding disputes which are covered under this Scheme, then, will he be eligible to file a declaration(s) for the other case(s)?

Ans. Yes. The exception from eligibility is for ‘the case’ and not ‘the person’.

Q. 5 If I file a declaration under the Scheme, will it be assumed that I have admitted to the position and agree with the allegations made in the show cause notice?

Ans. No. A declaration under the Scheme will not be a basis for assuming that the declarant has admitted the position and no fresh show cause notice will be issued merely on that basis.

Q. 6 With respect to penalty/late fee matters, whether only SCNs for late fee or penalty are covered under this Scheme or also such cases under appellate proceedings?

Ans. The Scheme is applicable to any SCN for penalty/late fee, irrespective of whether it is under adjudication or appeal.

Q. 7 I had made an application to the Settlement Commission for settlement of my case. However these proceedings abated due to rejection of the application by the Settlement Commission or other reason/s and the case went back to the adjudicating authority for further action. Can I avail the benefit of the Scheme with respect to this case?

Ans. Yes. A declaration under the Scheme can be made for a case which is no longer pending with the Settlement Commission if other conditions of the Scheme are satisfied.

Q. 8 With respect to cases under enquiry, investigation or audit what is meant by ‘written communication’ quantifying demand?

Ans. Written communication will include a letter intimating duty/tax demand or duty/tax liability admitted by the person during enquiry, investigation or audit or audit report etc.

Q. 9 I have already paid duty/tax by utilising the input credit, and the matter is under dispute. Will this duty/tax already paid through input credit be adjusted against my duty/tax liability calculated under the Scheme?

Ans. Yes. In such cases, duty/tax already paid through input credit shall be adjusted by the Designated Committee at the time of determination of final amount payable under the Scheme.

Q. 10 Which is the Form through which I can make a declaration under the Scheme?

Ans. Form SVLDRS1 is the form that has to be filled for making a declaration.The form is required to be filled and submitted electronically and shall be available at the portal https://cbic-gst.gov.in

Q. 11 I do not agree with the estimate of the Designated Committee. Will I be given a personal hearing?

Ans. Yes. A date of personal hearing is intimated alongwith the estimate issued by the Designated Committee in Form SVLDRS2. Written submissions can be made, personal hearing can be waived, and one adjournment of the personal hearing can also be sought through Form SVLD₹ 2A. These forms are available at the portal https://cbic-gst.gov.in and are submitted electronically.

Q. 12 I have received a communication of the amount payable in Form SVLDRS3. How do I make the duty/tax payment?

Ans. A challan can be generated by a link provided in the Form SVLDRS3 issued by the department. Once the challan is generated, payment against the same can be made by the taxpayer.

Q. 13 How do I intimate the department about withdrawal of appeal by me?

Ans. Form SVLDRS3 provides a document upload facility for furnishing proof of withdrawal.

Q. 14 Are disputes pertaining to Cenvat credit covered under the Scheme?

Ans. Yes, they are included unless covered by a specific exclusion.

Q. 15 What happens if I do not make the payment of the amount specified in the statement within 30 days of its issue?

Ans. The declaration shall be treated as lapsed and benefits of the Scheme will no longer be available.

Q. 16 The amount quantified under an enquiry, investigation or audit on or before 30.06.2019 gets modified subsequently due to any reason. Will I still be eligible to file a declaration under the Scheme?

Ans. Only such cases of enquiry, investigation or audit are covered under the Scheme where the duty/tax demand has been finally worked out on or before 30.06.2019. In other words, all the evidence/document gathering process is over and the tax liability has been worked out on or before 30.06.2019. For instance, a Draft Audit Report or the Final Audit Report has been issued on or before 30.06.2019. Similarly, a letter intimating duty demand has been issued by the department. These would include those cases also where the duty/tax demand undergoes a change only due to any clerical or calculation error.

Q. 17 The duty demand in an SCN issued to me was dropped by the adjudicating authority. However, the department has filed an appeal. I have not filed any appeal in the matter. Will this case by eligible under the Scheme.

Ans. Yes. You can file a declaration with regard to this appeal if you are willing to pay the tax dues as calculated under the Scheme for bringing the matter to closure. Section 124(1)(a) covers ‘one or more appeals’ arising out of an SCN. Such appeals can be either filed by the party or the department.

Q. 18 I have declared sums of duty as payable by me in multiple returns but not paid the same. Do I need to file a single declaration for all these returns or a separate declaration for each return?

Ans. For administrative convenience, a single declaration may be filed indicating separately the details of each such return in the declaration. However, it will not have not have any impact on the applicable tax relief. In other words, for the purpose of application of tax relief, each such return will be taken individually even though a single Estimate/Statement and Discharge Certificate shall be issued for a declaration.

Q. 19 I have filed a return showing ₹ 1000 as duty payable. At the date of filing the return I had not paid any sum against this. However subsequently I have paid ₹ 500 against this duty payable and as on date the outstanding duty amount is ₹ 500. For making a declaration under the scheme under the category of arrears what is the amount on which the relief is to be calculated?

Ans. For declaration under the category of arrears the amount outstanding as on the date of making the declaration is the tax dues on which the relief shall be calculated i.e. ₹ 500 in this case.

Q. 20 I have an order confirming a duty demand of ₹ 1 crore against me and I have already paid ₹ 60 lakhs against this. What are the tax dues on which relief is to be calculated and what will be the amount payable?

Ans. The amount of tax dues is ₹ 40 lakhs. After applying applicable relief @ 60%, the amount payable under the Scheme is ₹ 16 lakhs.

Q. 21 I have an order confirming a duty demand of ₹ 1 crore apart from ₹ 20 lakh penalty and interest as applicable. I have already paid ₹ 1 crore towards duty. What are the tax dues on which relief is to be calculated and what will be the amount payable?

Ans. The amount of tax dues is zero, and the amount payable under the Scheme is zero.

Q. 22 Although I have not been subjected to any search of my premises or investigation of any kind as per my knowledge I have recently received a letter from the department asking for some documents like balance sheets and Profit and loss accounts of certain years. I want to make a voluntary declaration with regard to the same period. Am I eligible?

Ans. The letter may have been sent to you by the department as a result of a specific intelligence input as part of an enquiry or investigation or it may be with the aim of making a preliminary assessment as to whether or not an enquiry or investigation is warranted. This would depend on the facts and circumstances of each case. You can make a declaration. However the eligibility will be decided on a case to case basis by the designated committee.

Q. 23 I want to file a declaration under the Scheme for an order against which I do not want to file an appeal even though the time period for filing of appeal is not over. Can I make such a declaration?

Ans. You can file a declaration under the Scheme provided you give in writing to the department that you will not file an appeal. This declaration shall be binding on you.

Q. 24 I want to file a declaration under the Scheme for a case where I have filed an appeal after 30.06.2019. Am I eligible?

Ans. Such cases are not covered under the Scheme per se. However, if a taxpayer withdraws the appeal and furnishes the undertaking to the department in terms of Para 2(viii) of Circular No. 1072/05/2019-CX dated 25.09.2019, they can file a declaration under the Scheme.

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Acts Income Tax