Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Sitharaman asks public sector banks to focus on youth; provide cool, simple banking to suit their needs
    I-T department officials discuss roadmap for improving services for taxpayers
    India-UK trade agreement to benefit Haryana's industries and services sector: CM Saini
    FM asks banks to keep pace with youth expectation; calls for outreach campaign from Oct 2
    CCI approves acquisition of certain equity shareholding in Bharti Life Insurance Company by Prudential Corporation Holdings
    Suspicious foreign remittances under I-T department scanner
    Delhi tightens rules for ration shops, makes big stock discrepancies an FIR offence
    Regional Rural Banks (RRBs) Record Strong Growth in Credit Delivery during FY 2025–26
    METSTO Delivers Adjustable Pallet Racking System Solutions for Warehouses
    China rolls out new measures to boost consumption in counties, smaller cities
    Strengthening Collaboration to Preserve Sovereignty: Collaborative Cash Ecosystems - Global Strategies to Preserve Trust and Sovereignty - Keynote Add...
    SC asks CBI to examine all six allegations of dubious transactions involving Indiabulls
    Cyber fraudsters invent 'boss' scam to target companies; Ahmedabad cops bust international network
    Personal Loan Prepayment Charges: What RBI Rules Say in 2026
    Zeeba Revamps Packaging and Announces Chef Vikas Khanna as Its Global Brand Ambassador
    Paul Merchants Finance Launches Loan Against Silver, Becomes India’s First NBFC to Set Up Exclusive Silver Loan Branches
    CarePass Launches This Independence Day, Bringing Healthcare Savings Across India's Top and Premium Hospitals
    Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations
    Kerala: Fresh ED raids in CMRL-Exalogic Solutions case
    ED raids KPSC office, ex-chairman in veterinary officers hiring 'scam' case
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 18, 2026
Show AI Summary
Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.
August 18, 2026
Show AI Summary
Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning.
Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
August 18, 2026
Show AI Summary
Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation.
India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.
August 18, 2026
Show AI Summary
Youth banking outreach promotes campus engagement, financial awareness, responsible credit discipline and long-term access to formal banking services.
Public sector banks are urged to conduct a month-long "Banking for Youth" outreach campaign from 2 October 2026 for persons above 16 years of age. Outreach through educational and skill-development campuses should combine account opening, financial awareness and direct engagement. Banks should develop tailored youth strategies to build long-term banking relationships. Proposed measures include online learning content, lifestyle-linked benefits, dedicated youth banking support, and awareness of credit scores, credit products and government credit schemes. A dedicated youth banking-awareness portal may serve as a single access point for appropriate banking services and financial opportunities.
August 18, 2026
Show AI Summary
Competition approval for Prudential's acquisition of equity shareholding in an Indian life insurer supports the proposed insurance-sector combination.
Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.
August 18, 2026
Show AI Summary
Foreign remittance certification due diligence faces nationwide verification targeting shell entities, their controllers, and certifying professionals.
Nationwide verification of suspicious outward foreign remittances targets entities with little or no reported business activity, their controllers, and professionals issuing tax determination certificates. Scrutiny concerns remittances disproportionate to reported turnover, inconsistent with stated purposes, or linked to entities not operating from declared addresses. Form 15CB, or Form 146 under the corresponding framework, requires certifying accountants to assess taxability from books of account and relevant records, supporting tax deduction at source and treaty compliance through due care, diligence and professional judgment.
August 18, 2026
Show AI Summary
Fair Price Shop regulation introduces graded stock-shortage penalties, mandatory FIRs for major discrepancies, and restructured licensing requirements.
Fair Price Shop regulation introduces quantity-based penalties for stock discrepancies, ranging from performance-guarantee forfeiture and replenishment obligations to interim suspension, cancellation-related action and mandatory FIR registration for major shortages. Repeated or deliberate diversion or manipulation of public distribution supplies may lead to cancellation, blacklisting and FIR registration. Licensing now includes continuing regular licences and short-term temporary licences, with wider eligibility, points-based selection, card-linked performance guarantees and compulsory approved e-PoS, weighing-scale and iris-scanner use.
August 18, 2026
Show AI Summary
Priority sector lending strengthened rural credit access through agricultural, micro-enterprise and weaker-section finance, reinforcing financial inclusion and sustainable development.
Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.
August 18, 2026
Show AI Summary
Adjustable pallet racking systems support customised, scalable warehouse storage through configurable layouts, safety assessment, installation and lifecycle support.
Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.
August 18, 2026
Show AI Summary
Domestic consumption expansion targets lower-tier markets through improved retail channels, distribution networks, employment support and household income opportunities.
China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.
August 18, 2026
Show AI Summary
Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations.
Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
August 18, 2026
Show AI Summary
Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions.
Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
August 18, 2026
Show AI Summary
Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
August 18, 2026
Show AI Summary
Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
August 18, 2026
Show AI Summary
Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
August 18, 2026
Show AI Summary
Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
August 18, 2026
Show AI Summary
Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
August 18, 2026
Show AI Summary
EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
Show AI Summary
Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
Show AI Summary
Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

Assessment of Disruption of Imports from China

September 23, 2020

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Government has banned certain apps in June 2020 and September 2020 on concerns of security and to ensure safety and sovereignty of the Indian cyberspace.  Many apps are available on each of the popular playstore namely Google Play Store and Apple Store including competing apps with similar functionalities. Government of India has also launched Digital India AatmaNirbhar Bharat Innovate Challenge to give a push to Indian App ecosystem through short listing of the top Indian Apps that have the potential to become global competitors in their respective categories.

Due to the impact of COVID-19 pandemic there were several global and domestic supply side constraints and also a dip in global demand. India’s imports from China during April-July 2020 decreased to USD 16.60 billion from USD 23.45 billion in the corresponding period of the previous year i.e April-July 2019. The details of the imports of Top 50 commodities from China in April-July 2020 compared to April-July 2019 are given at Annexure. Some of the items exhibiting decline in imports include electronic components, telecom instruments, computer hardware, industrial machinery for dairy, electric machinery, residual chemical and allied products, consumer electronics, electronic instruments, fertilisers, products of iron & steel etc.

To minimise the impact of such disruptions, Government has taken steps to expand domestic capacities and has implemented policies to promote domestic manufacturing through ease of doing business and Production Linked Incentives (PLIs) in select sectors including mobile phones & electronic components and medical devices & bulk drugs. Government has also sensitized stakeholders to source critical imports from diversified sources through the active support of our missions.

The full impact of these measures on the industry will be discernible as the global economy recovers, and revives from the recessionary affects of the pandemic.

Annexure

India’s top 50 Import of Principal Commodity Groups from China, during April- July, 2019 and April- July 2020

RANK

COMMODITY GROUPS

2019-20 (APR-JUL)

2020-21 (APR-JUL)

IMPORT FROM CHINA

 IMPORT FROM CHINA

VAL (MILL US $)

VAL (MILL US $)

1

ELECTRONICS COMPONENTS

2029.44

1156.15

2

TELECOM INSTRUMENTS

1850.10

1509.13

3

COMPUTER HARDWARE, PERIPHERALS

1589.51

1395.34

4

INDL. MACHNRY FOR DAIRY ETC

1423.96

931.77

5

ORGANIC CHEMICALS

1248.71

1069.92

6

ELECTRIC MACHINERY AND EQUIPME

916.61

497.50

7

RESIDUL CHEMICL AND ALLED PROD

906.74

857.36

8

BULK DRUGS, DRUG INTERMEDIATES

860.85

859.66

9

ELECTRONICS INSTRUMENTS

801.71

706.72

10

CONSUMER ELECTRONICS

680.02

473.76

11

FERTILEZERS MANUFACTURED

581.24

361.20

12

AC, REFRIGERATION MACHNRY ETC

589.52

379.40

13

PRODUCTS OF IRON AND STEEL

600.90

385.43

14

PLASTIC RAW MATERIALS

521.71

272.91

15

AUTO COMPONENTS/PARTS

424.32

246.33

16

IRON AND STEEL

438.68

309.22

17

MANMADE YARN,FABRICS,MADEUPS

379.03

185.57

18

OTHER MISC. ENGINEERING ITEMS

373.00

214.88

19

ALUMINIUM, PRODUCTS OF ALUMINM

408.77

174.29

20

OTHER COMMODITIES

339.45

203.27

21

ACCUMULATORS AND BATTERIES

329.55

140.66

22

PLASTC SHT, FILM, PLTS ETC

287.50

145.95

23

MACHINE TOOLS

259.52

153.80

24

GLASS AND GLASSWARE

266.51

129.06

25

AGRO CHEMICALS

321.43

377.65

26

CRANES, LIFTS AND WINCHES

200.29

189.18

27

INORGANIC CHEMICALS

248.01

164.56

28

MEDICAL AND SCIENTIFIC INSTRUM

200.53

205.64

29

OTH NON FEROUS METAL AND PRODC

199.40

112.80

30

OTHER CONSTRUCTION MACHINERY

196.83

149.79

31

MOULDED AND EXTRUDED GOODS

191.43

108.82

32

OTHER PLASTIC ITEMS

204.52

66.76

33

OTHER MISCELLAENIOUS CHEMICALS

212.37

240.96

34

PAPER, PAPER BOARD AND PRODUCT

208.02

101.74

35

OTH TXTL YRN, FBRIC MDUP ARTCL

180.72

78.69

36

CERAMICS AND ALLIED PRODUCTS

165.58

97.36

37

PROJECT GOODS

153.30

107.10

38

HANDCRFS(EXCL.HANDMADE CRPTS)

156.28

168.08

39

PAINT, VARNISH AND ALLID PRODC

148.74

110.66

40

PETROLEUM PRODUCTS

60.58

68.83

41

HND TOOL, CTTNG TOOL OF METALS

113.69

79.47

42

ATM, INJCTNG MLDING MCHNRY ETC

118.77

69.71

43

PLYWOOD AND ALLIED PRODUCTS

90.05

39.03

44

IC ENGINES AND PARTS

89.57

58.78

45

COTTON FABRICS, MADEUPS ETC.

83.88

32.34

46

PUMPS OF ALL TYPES

70.75

54.97

47

RAILWY TRNSPRT EQUIPMNTS, PRTS

76.36

57.98

48

PRIME MICA AND MICA PRODUCTS

66.08

37.97

49

FOOTWEAR OF RUBBER/CANVAS ETC.

66.02

22.24

50

DYE INTERMEDIATES

77.26

47.14

Total IMPORT of 50 Commodities

22007.79

15607.52

TOTAL IMPORT

23452.75

16600.74

Note: Figures pertaining to FY:2020-21, are provisional and subject to change        

   Source: DGCIS

This information was given by the Union Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Rajya Sabha today.

Topics

Acts Income Tax