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September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.

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Customs, DGFT & SEZ

CBIC has a big role in India’s rise in Ease of Doing Business rankings : Shri Anurag Thakur

January 27, 2020

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Union Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur has expressed confidence that with concerted efforts of the Central Board of Indirect Taxes & Customs (CBIC), India would further improve its position in ranking for Ease of Doing Business. While addressing at Investiture Ceremony & International Customs Day 2020 here today, Shri Thakur said that India has risen in the Ease of Doing Business Rankings by being transparent, accountable and logical. This rise in rankings is due to the efforts of the officers of CBIC as Trading Across Borders is one of the key parameter of the rankings and it is credit to the efforts of CBIC that this key parameter has performed.

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While stressing on harnessing technology for faster resolution, the Minister said that technology plays an important role by ensuring efficiency, transparency and accountability. Shri Thakur appreciated the response of Custom officials to dynamics of changing ecosystem worldwide. Customs are doing well because they work as a team besides adapting and evolving, especially in a large and diverse country like India.

He said the 2020 theme of International Customs Organisation itself highlights the changing nature and role of customs today. The theme of International Customs Day, celebrated on 26th January every year, is dedicated to the contribution of Customs towards a sustainable future where social, economic, health and environmental needs are at the heart of our actions, with the slogan “Customs fostering Sustainability for People, Prosperity and the Planet”.

Shri Thakur gave away the awards to CBIC Officers & Staff for their meritorious services on the occasion of Investiture Ceremony & International Customs Day. Presidential Award of Appreciation Certificates and World Customs Organization (WCO) Certificates of Merit Award were also presented to the distinguished officers of the CBIC.

Dr. Ajay Bhushan Pandey, Revenue Secretary, also spoke about the thrust on enhancing trade facilitation and the role of other stakeholders including participating government agencies. Revenue Secretary emphasized on use of technology in ensuring Ease of Doing Business.

Dr. John Joseph, Chairman CBIC, while congratulating the awardees highlighted recent key initiatives taken by the Customs for enhancing trade facilitation in line with the Action Plan for implementing the Trade Facilitation Agreement of the WTO ratified by India.  He also complimented the officers for their dedicated work especially in the area of preventing smuggling of environmentally sensitive items, flora and fauna. Chairman CBIC said that officers of CBIC are fully committed towards hassle free trade and taking India to newer heights in Ease of Doing Business rankings.

Shri O. P. Dadhich, Principal Chief Commissioner of Customs Delhi Zone presented the vote of thanks.

The following officers received the Presidential commendation.

A.  Exceptionally Meritorious Service rendered at the Risk of Life

  1. Shri Afaq Ahmad Giri, Assistant Director, Directorate of Revenue Intelligence (DRI) Regional Unit, Jammu;
  2. Shri Lalthanliana, Senior Intelligence Officer, DRI Regional Unit, Aizawl;
  3. Shri Ranjeet Singh, Senior Intelligence Officer, DRI Regional Unit, Jammu;

B.  Specially Distinguished Record of Service

  1. Shri Bankey Behari Agrawal, Principal Chief Commissioner, Central Goods and Services Tax & Central Excise (CGST & CEX) and Customs Zone, Hyderabad;
  2. Shri Pramod Kumar Singh, Principal Commissioner, CGST & CEX Zone, Jaipur;
  3. Shri Ashish Varma, Principal Additional Director General, DRI Zonal Unit, Ahmedabad;
  4. Shri Vimal Kumar Srivastava, Additional Director General, National Academy of Customs, Indirect Taxes & Narcotics (NACIN), Faridabad;
  5. Shri Subhash Agrawal, Commissioner of Customs, Mumbai –II Customs Zone, Mumbai;
  6. Dr. Satish S. Dhavale, Additional Director, Risk Management Centre for Customs, Directorate General of Analytics and Risk Management, Mumbai;
  7. Shri Nagendra Kumar Mishra, Additional Commissioner, CGST & CEX Zone, Ranchi;
  8. Shri Hardeep Batra, Additional Commissioner, World Customs Organisation Cell, CBIC, New Delhi;
  9. Shri Sachin Jain, Additional Commissioner, CGST & CEX Zone, New Delhi;
  10. Shri Rahul Ramesh Nangare, First Secretary, High Commission of India, London;
  11. Shri Parmod Kumar, Additional Commissioner, Tax Research Unit, CBIC, New Delhi;
  12. Ms. Sucheta Sreejesh, Additional Director, DRI Headquarters, New Delhi;
  13. Shri Gauri Shankar Sinha, Director, Goods and Services Tax Council, New Delhi;
  14. Shri Satish Pandurangarao Pattapu, Deputy Director, DRI Zonal Unit, Mumbai;
  15. Shri Rajeev Kumar Arora, Assistant Commissioner, Directorate General of Taxpayer Services, New Delhi;
  16. Shri. Ashok Kumar Gautam, Assistant Director, Directorate General of Human Resource Development (DGHRD), New Delhi;
  17. Shri S. Kalyan Iyer, Assistant Commissioner, Directorate General of Systems & Data Management, Chennai;
  18. Shri. Krishnamachari Srinivasan, Assistant Commissioner, CGST & CEX Zone, Chennai;
  19. Shri Jitender Kumar Sharma, Superintendent, Directorate of Logistics, New Delhi;
  20. Shri Vijay C. Bellary, Superintendent, CGST & CEX Zone, Bengaluru;
  21. Shri Haresh G. Parecha, Superintendent, CGST & CEX Zone, Mumbai;
  22. Shri Rakesh Bhargava, Senior Intelligence Officer, Directorate General of Goods & Services Tax Intelligence (DGGI) Zonal Unit, Ludhiana;
  23. Shri Ram Niwas, Senior Intelligence Officer, DGGI Zonal Unit, Chandigarh;
  24. Shri R. Srivatsan, Superintendent, NACIN, Chennai;
  25. Shri Vinod V. Pisharody, Senior Intelligence Officer, DRI Zonal Unit, Mumbai;
  26. Shri Krishnakant Gupta, Superintendent, Directorate General of Taxpayer Services (DGTS) Zonal Unit, Ahmedabad;
  27. Shri Shasidharan, Senior Intelligence Officer, DRI Zonal Unit, Cochin.
  28. Shri Srusti Rameswara Baba, Senior Intelligence Officer, DGGI Zonal Unit, Pune;
  29. Shri Dilip Singh Bisen, Senior Intelligence Officer, DGGI Zonal Unit, Mumbai;
  30. Shri Somit Das, Senior Intelligence Officer, DRI Zonal Unit, Kolkata;
  31. Shri K. Amudhaganesh, Senior Intelligence Officer, DRI Zonal Unit, Chennai;
  32. Shri A Shanmugaraj, Senior Intelligence Officer, DRI Regional Unit, Coimbatore;
  33. Shri Vijay Prakash Verma, Senior Intelligence Officer, DGGI Zonal Unit, Jaipur;
  34. Shri Sanjeev Kumar Bhalla, Intelligence Officer, DRI Headquarters, New Delhi;
  35. Shri Rohit Issar, Intelligence Officer, DGGI, New Delhi;
  36. Ms. Hem Lata, Senior Private Secretary, DRI Headquarters, New Delhi;
  37. Ms. Neerja Sharma, Senior Private Secretary, DGGI Headquarters, New Delhi;
  38. Ms. Nita Chirag Shah, Senior Private Secretary, DRI Zonal Unit, Ahmedabad;
  39. Ms. Radha Vijaykumar, Administrative Officer, DRI Zonal Unit, Chennai;
  40. Shri Vinod Joshi, Tax Assistant, Tax Research Unit, CBIC, New Delhi;
  41. Shri S. Nageswaran, Driver Special Grade, DGGI Headquarters, New Delhi;
  42. Shri Jaspal Chauhan, Driver Grade-I, DRI Headquarters, New Delhi;
  43. Shri M. Shanthaveerappa, Head Havaldar, DGGI Zonal Unit, Bengaluru.

 C. World Customs Organisation (WCO) Certificate of Merit

OFFICERS of CBIC

    1. Sh Rajan Chaudhary, Commissioner, Chennai-I, Chennai.
    2. Sh R K Mishra, Commissioner, JNCH, Mumbai Zone-II, Mumbai
    3. Sh Manish Kumar, Joint Commissioner, Directorate of International Customs, New Delhi             
    4. Sh Aneish P. Rajan, Joint Commissioner, Customs Preventive, Kochi.
    5. Dr. Subhash Yadav, Joint Director RMCC, Mumbai
    6. Sh Praveen Kumar Bali, Deputy Commissioner, TRU, CBIC, New Delhi
    7. Sh Kshitij Jain, Deputy Director, DG Systems, New Delhi
    8. Dr. Swati Bhanwala, Deputy Director, OSD (Land Customs), CBIC, New Delhi
    9. Dr. Anees Cherkunnath, Deputy Director, Directorate of Logistics, CBIC, New Delhi
    10. Ms. Anchita Pandoh, Deputy Commissioner, ACC Export, New  Delhi
    11. Sh Babu Lal Meena, Deputy Commissioner, Single Window, CBIC, New Delhi
    12. Sh Gyanender Saxena, Chemical Examiner Gr II, Customs Laboratory, Mumbai
    13. Sh Bibekananda Panda, Superintendent, WCO Cell, CBIC, New Delhi
    14. Sh Mukesh Bihari Pathak, Superintendent, Customs (Preventive), Jodhpur
    15. Sh Arghya Bhattacharya, Senior Intelligence Officer, DRI, KZU, Kolkata
    16. Sh Devanand P. Dhawa, Suprintendent, Customs (Preventive), Jamnagar
    17. Sh Upendra Kumar Vashishtha, Inspector (Examiner) DGHRD, New Delhi

Officers from other Government Agencies:

  1. Sh S B Singh, Deputy Director General, National Informatics Centre, New Delhi
  2. Sh Navin Kumar Vidyarthi, Indian Statistical Service, Director, TRU, CBIC, New Delhi

Recipient from Private Sector:

  1. Sh. P.S. Atree, M/s P.S. Atree & Company Pvt. Ltd., Customs Broker, New Delhi.

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