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    Advisory on the Revised Process for Approval of Registration Cancellation application under Form GST REG-16
    Advisory on Simplified Registration Scheme under Rule 14B of the CGST Rules, 2017
    Advisory on Important Changes in FORM GST REG-01 for GST Registration
    Gross and Net GST revenue collections for the month of October, 2026
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    CCI approves acquisition of certain stake in Vodafone Group PLC by Vega SAS
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment of tax devolution in view of upcomin...
    CBN Madhya Pradesh Unit conducts three major anti-drug operations; seizes 2,774.650 kg of poppy straw and five vehicles; arrests four persons
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    Monthly review of accounts of Government of India upto September 2026 (FY 2026-27)
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November 2, 2026
Show AI Summary
GST registration self-cancellation requires timely returns and links electronic approval to taxpayer category and output tax liability.
Before submitting Form GST REG-16, taxpayers must file all applicable returns due on or before the proposed effective cancellation date. Returns required up to the effective date but not yet due place the application in the "Pending for Returns Filing" stage and must be filed by their respective due dates. For regular, casual and SEZ taxpayers, electronic cancellation applies if output tax liability is no more than Rs. 2.5 lakh in each tax period. If liability exceeds that threshold in any period, Form GSTR-10, where applicable, must be filed within three days of the due date of the returns identified at the pending-returns stage, or within three days of application submission if that stage does not apply.
November 2, 2026
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Simplified GST registration allows eligible e-commerce suppliers to use operator warehouses in other jurisdictions, subject to prescribed consent.
Simplified GST registration under Rule 14B enables eligible suppliers selling goods through e-commerce operators that collect tax at source to use approved operator warehouse addresses as principal or additional places of business. The applicant must have no physical presence or active regular registration in the target State or Union territory, which cannot be an Other Territory jurisdiction. Monthly output tax liability on supplies to registered persons must not exceed Rs. 2.5 lakh, and the new registration may be used only for e-commerce supplies.
November 2, 2026
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GST registration applications require constitution-specific documents, premises disclosures, bank details and successful validation of applicable identification numbers.
GST registration applications in FORM GST REG-01 require applicants to identify their business constitution, with One Person Company available as a separate category, and provide applicable supporting evidence such as incorporation certificates, partnership deeds or registration certificates. Bank account details must be furnished with the application wherever available, with up to 10 accounts reportable. If unavailable at application, they must be furnished within 30 days after issuance of the registration certificate in FORM GST REG-06. The application reference number is generated only after successful validation of the required information.
November 2, 2026
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GST revenue collections rose alongside domestic and import receipts, with refunds and integrated tax settlements reported separately.
GST revenue collections for October 2026 comprised gross domestic revenue of Rs. 1,59,044 crore and gross import revenue of Rs. 72,246 crore. Total gross GST revenue was Rs. 2,31,290 crore, an increase of 22.9% over October 2025. Refunds for October 2026 totalled Rs. 27,934 crore, comprising domestic refunds of Rs. 14,007 crore and export IGST refunds through ICEGATE of Rs. 13,927 crore. Net GST revenue was Rs. 2,03,356 crore, up 25.6% from October 2025; this included net domestic revenue of Rs. 1,45,037 crore and net customs revenue of Rs. 58,319 crore.
November 2, 2026
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Trade facilitation and market access discussions address customs cooperation, supply-chain resilience, and diamond certification and traceability requirements.
India-EU trade facilitation and market access discussions addressed two-way trade, supply-chain resilience and opportunities for businesses. Both sides reaffirmed their commitment to a fair, balanced and mutually beneficial agreement and agreed to remain engaged on outstanding procedural and implementation issues. Preparations for implementing the India-EU free trade agreement included discussion of customs cooperation and the importance of efficient, transparent and digitally enabled customs procedures in reducing transaction costs and supporting the movement of legitimate trade. Engagement with diamond industry stakeholders addressed certification and traceability requirements, responsible sourcing and opportunities in India's diamond market and manufacturing ecosystem.
November 2, 2026
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Shareholding acquisition approval covers MIH Payments Holdings' investment in Navi Limited, the holding company of a mobile financial services group.
Competition law approval has been granted by the Competition Commission of India for the acquisition of a shareholding in Navi Limited by MIH Payments Holdings B.V. The acquirer is an indirect wholly owned subsidiary of Prosus N.V. It does not itself undertake any business activity other than holding investments in its portfolio companies, which have business activities in India. Navi Limited is the holding company of the Navi Group, which offers financial services through a single consumer-facing mobile application.
November 2, 2026
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Competition approval covers Adani Energy Solutions' acquisition of IntelliSmart, both active in advanced electricity metering infrastructure.
Competition Commission of India approval covers the acquisition by Adani Energy Solutions Limited of 100% of the equity share capital of IntelliSmart Infrastructure Private Limited. The sellers in the transaction are National Investment and Infrastructure Fund and Energy Efficiency Services Limited. Adani Energy Solutions Limited is primarily engaged in electricity transmission and distribution and in the deployment of advanced metering infrastructure for electricity in India. IntelliSmart Infrastructure Private Limited is also involved in advanced metering infrastructure for electricity in India and deploys certain smart gas meters in India.
November 2, 2026
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Competition approval covers the merger of KFC and Pizza Hut franchise operators Sapphire Foods India and Devyani International.
Competition Commission of India approval covers the proposed combination involving the merger of Sapphire Foods India Limited with and into Devyani International Limited, together with certain related transactions. Both companies operate KFC and Pizza Hut franchise outlets in India. Devyani is also the exclusive franchisee in India for Costa Coffee, New York Fries and Sanook Kitchen.
November 2, 2026
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Renewable energy acquisition receives competition approval for the transfer of Solenergi Power's entire issued share capital to Aditya Birla Renewables.
Competition Commission of India approval covers the proposed acquisition by Aditya Birla Renewables Limited (the acquirer) of 100% of the issued share capital of Solenergi Power Private Limited (the target). The acquisition is to be made from Shell Overseas Investment B.V., the seller in the proposed combination. Aditya Birla Renewables Limited, together with its subsidiaries, is engaged in power generation using renewable energy resources, specifically solar and wind, as well as captive engineering, procurement and construction (EPC) activities. Solenergi Power Private Limited is registered in Mauritius and operates exclusively as a holding company, without any other business activities.
November 2, 2026
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Competition clearance covers Vega SAS's proposed stake acquisition in Vodafone Group PLC, which provides telecommunications and digital services.
Competition clearance from the Competition Commission of India covers Vega SAS's proposed acquisition of 16.2% of Vodafone Group PLC's issued share capital. Vega SAS is a holding company and a wholly owned subsidiary of Maya SAS, a simplified joint-stock company incorporated in France. Vega SAS has no business presence or activity in India on its own; its relevant affiliates undertake business activities there. Vodafone Group PLC provides fixed and mobile services in Europe and Africa, with most revenue generated by core connectivity products and services. In India, Vodafone Group PLC is present through Vodafone Idea Limited.
November 2, 2026
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Tax devolution through an additional advance instalment aims to support capital spending and development and welfare expenditure.
Tax devolution of Rs. 1,09,019 crore was released by the Union Government to State Governments on 31 October 2026 as an additional advance instalment, in addition to regular monthly devolution. It is the second additional instalment in the financial year. The release is intended, in view of the upcoming festive season, to enable States to accelerate capital spending and finance development and welfare expenditure.
November 2, 2026
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Poppy straw trafficking enforcement includes intelligence-led vehicle searches, seizures and arrests, with a consignment concealed beneath cover cargo.
Illicit poppy straw trafficking enforcement by the Central Bureau of Narcotics' Madhya Pradesh Unit involved three intelligence-led operations under the Narcotic Drugs and Psychotropic Substances Act, 1985. Officers seized 2,774.650 kg of poppy straw and five vehicles and arrested four persons. Officers recovered 2,308 kg in 115 sacks concealed beneath 598 sacks of chana husk. During the night of 28-29 October, officers intercepted a pickup truck bearing a suspected false registration number and a Bolero car at Ishaqpur, Mandsaur. Searches recovered 416.560 kg of poppy straw in 22 bags, including 17 bags from the pickup and five from the car. On 28 October, a car and motorcycle were intercepted on the Fatehgarh-Nayakheda-Pipliya Mandi route. Intelligence indicated that the motorcycle was piloting the car, from which officers recovered 50.090 kg of poppy straw in two bags. Investigations are continuing in all three cases.
October 31, 2026
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Administrative role in Tribunal Member appointments remains distinct from the Tribunal's independent authority over staff appointment and management.
The Ministry of Corporate Affairs performs an administrative role in conducting appointments of Judicial and Technical Members of the National Company Law Tribunal. The Tribunal independently appoints and manages its officers and staff, including Deputy Registrars, Court Officers, Stenographers, Office Assistants and Multi-Tasking Staff. Delegated personnel responsibility supports the Tribunal's effective and independent functioning.
October 31, 2026
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Digital procurement infrastructure supports kirana ordering and supply-chain efficiency while preserving distributor relationships and expanding digital participation.
ONDC DigiDukaan enables kirana retailers to operate as digital buyers through a single interface for discovering and ordering products across multiple brands, distributors and wholesalers, with visibility of pricing, trade schemes and availability. It is intended to reinforce existing distributor relationships while creating a shared digital foundation for logistics, formal credit and related services. Priority areas include a common retailer identity, shared logistics and micro-warehousing, transaction-linked financing, simplified technology integration and commercial incentive alignment for sustained digital ordering.
October 31, 2026
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Trade facilitation and investment partnerships support market access and sectoral collaboration across logistics, clean energy, digital technologies, and healthcare.
Trade and investment cooperation focused on enhancing trade and investment flows, addressing market-related concerns, facilitating market access, and expanding business engagement and investment partnerships. Priority sectors included logistics, renewable energy and clean technology, financial services and FinTech, digital transformation and ICT, healthcare and life sciences, Ayurveda and traditional medicine, and agro-food processing.
October 31, 2026
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Banking-sector reform establishes a high-level committee to develop reforms for globally competitive, inclusive and resilient banking.
High Level Committee on Banking for Viksit Bharat is constituted to review India's banking sector and recommend structural, institutional, regulatory and legislative reforms supporting globally competitive, financially inclusive and resilient banking. Its remit includes prudential norms, banking regulation, capital requirements, cost of capital, AI and digital innovation, cyber-risk safeguards, workforce capacity, Priority Sector Lending and the Lead Bank Scheme. The Committee will also consider reforms affecting Regional Rural Banks, Cooperative Banks, Development Financial Institutions and Non-Banking Financial Companies.
October 31, 2026
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Cross-border UPI acceptance enables Indian travellers to make online bookings at international attractions using familiar payment applications.
Cross-border UPI acceptance enables Indian travellers to make online experience bookings at At the Top, Burj Khalifa and Resorts World Sentosa using preferred UPI applications. The UAE integration involves NPCI International Payments Limited, NEOPAY and Emaar Entertainment, while the Singapore arrangement with FOMO Pay extends acceptance to Resorts World Sentosa attractions. These e-commerce facilities build on QR-based merchant payment arrangements and support seamless cross-border digital transactions for advance travel planning.
October 31, 2026
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Monthly fiscal account reporting records consolidated receipts, expenditure, tax devolution, interest payments, and major subsidies through September.
Consolidated monthly accounts through September 2026 record total receipts of Rs.18,35,422 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.6,99,409 crore. Total expenditure stands at Rs.25,49,835 crore, with Rs.18,95,288 crore on revenue account and Rs.6,54,547 crore on capital account. Revenue expenditure includes interest payments of Rs.6,46,010 crore and major subsidies of Rs.2,22,905 crore.
October 31, 2026
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Cross-border narcotics trafficking: intelligence-led operations seized methamphetamine concealed in furniture and tea packets, with arrests and vehicle seizures.
Intelligence-based interceptions resulted in the seizure of methamphetamine tablets concealed in an office table within a vehicle and crystal methamphetamine hidden above a truck cabin in tea packets carrying foreign markings. Four persons were arrested under the Narcotic Drugs and Psychotropic Substances Act, 1985, and three vehicles were seized. Preliminary investigation linked the drugs to cross-border smuggling from Myanmar.
October 31, 2026
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Clandestine synthetic drug manufacturing: enforcement uncovered an illicit laboratory, seized drugs and precursors, and made arrests under narcotics law.
An intelligence-led operation uncovered a functional clandestine synthetic-drug manufacturing laboratory and seized semi-prepared drugs, finished methaqualone, precursor chemicals, and manufacturing equipment. Follow-up residential searches recovered additional chemicals and a manufacturing machine. Approximately 1,100 kg of drugs and precursor chemicals were seized in total, and two persons associated with the facility were arrested under the Narcotic Drugs and Psychotropic Substances Act, 1985.

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Customs, DGFT & SEZ

A Strong V-Shaped Recovery of Economic Activity Confirmed in the IIP Data

January 29, 2021

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A Strong V-Shaped Recovery of Economic Activity Confirmed in the IIP Data

IIP & Eight-Core Index Further Inching UP to Pre-Covid Levels

Broad-Based Recovery in the IIP Resulted in a Growth of (-) 1.9 Per Cent in Nov-20 as Compared to a Low of (-) 57.3 Per Cent in Apr-20

Recovery Due to Remedial and Reform Package (Atmanirbhar Bharat Abhiyan) Comprising of Stimulus of Package Amounting to 15 Per Cent of India’s GDP

India’s Rank in The Ease of Doing Business (EODB) Index for 2019 has Moved Upwards to the 63rd Position Amongst 190 Countries from a Rank of 77th in 2018

FDI show a Rising Trend Inspite of Covid. during FY20, total FDI equity inflows were US$49.98 billion as compared to US$44.37 billion during FY19. the similar number for FY21 (UP to September-2020) was US$30.0 Billion.

Strong Recovery in FDI Inflows uin India Even During the Covid-19 Times is also a Strong Indicator of International Faith in India’s Economy Growth Story

Production Linked Incentive (PLI) Scheme with an Overall Expenditure Estimated at ₹ 1.46 Lakh Crores to boost manufacturing capabilities and exports

The Economic Survey has observed that in-spite of an unprecedented COVID-19 pandemic and consequential challenges, the industrial and infrastructure sector of Indian economy are on a fast V-shaped recovery path. This strong V-shaped recovery of economic activity is further confirmed in the IIP data. The Economic Survey was tabled in the Parliament today by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman. 

The Survey notes that the IIP & eight-core index are inching up to pre-COVID levels. The broad-based recovery in the IIP has resulted in a growth of (-) 1.9 per cent in Nov-20 as compared to a growth of 2.1 per cent in Nov-19 and a nadir of (-) 57.3 per cent in Apr-20. To provide another perspective on the revival of growth, the IIP was further analyzed by the weight of items that have recorded growth. The weight of the items that recorded growth was 46.05 per cent in November-2020, which was significantly higher than 5.87 per cent in the month of April-2020.

According to Economic Survey, this recovery is expected to be just the beginning of strong era of economic growth of India. Further improvement and firming up in industrial activities, enhanced capital expenditure by the Government, the vaccination drive and the resolute push forward on long pending reform measures are expected to provide the much needed support to the ongoing recovery path. It is pertinent to point out that the reforms undertaken in the country are probably one of the most comprehensive among the major economies of the world.

The Survey notes that the Government of India had announced a remedial and reform package (Atmanirbhar Bharat Abhiyan) comprising of stimulus package of` ₹ 29.87 lakh crore or 15 per cent of India’s GDP. This was subsequently backed by initiatives to further strengthen the economy. This stimulus package has specifically given relief and credit support to MSME to fight against COVID-19.  The Economic Survey says that the impact of all the initiatives is beginning to make a positive impact on the economic recovery.

The Survey observes that the Indian economy encountered a “once in a century” crisis due to the COVID-19 pandemic that affected economic activities and consequently impacted the livelihood of billions of people. The industrial sector, was not an exception to this shock, experienced a sharp decline. The economic activity, however, has started recovering as the unlocking process began.

The Economic Survey notes that the Government of India is committed to facilitating a pro-business environment to enable the country to become the global hub of manufacturing and economic activities. Several measures have been taken resulting in the simplification and rationalization of many existing and age-old rules and regulations. The introduction of information technology and single window clearance to make governance more efficient and effective were some of the other concrete steps taken by the Government to improve the environment of doing business.  These initiatives by the Government has resulted in India improving its rank in  Ease of Doing Business (EoDB) Index .

As per the Doing Business Report (DBR), 2020, the rank of India in the Ease of Doing Business (EoDB) Index for 2019 has moved upwards to the 63rd position amongst 190 countries from a rank of 77th in 2018. India has improved its position in 7 out of 10 indicators, inching up to the international best practices. The DBR, 2020 acknowledges India as one of the top 10 improvers, third time in a row, with an improvement of 67 ranks in three years. It is also the highest jump by any large country since 2011.

The Economic Survey states that the Startups have been a big success story in India.  The Government has taken several initiatives to promote the startups.  “Startups” are an outstanding platform for entrepreneurs who have the ability to think out of the box and innovate to conceive products that can create a niche for themselves in a dynamically changing world. To facilitate the growth of startups, the Government had announced “Startup India, Stand-up India” initiative. As on December 23, 2020, the Government of India has recognized a total of 41,061 startups and 4,70,000 jobs have been reported by more than 39,000 startups.

The Economic Survey observes that FDI is a one of the major sources of investment and investment financing drives the economic growth in the country. The FDI flows are also associated with the enhancement of productivity, skills and technology development in the country. The proactive policy measures taken by the government and improvement in the ease of doing business in the country resulted in massive improvement in FDI inflows. Strong recovery in FDI inflows in India even during the COVID-19 times is also a strong indicator of international faith in India’s economy growth story and inevitable path of economic recovery that the nation would see.

The Economic survey points that during FY20, total FDI equity inflows were US$49.98 billion as compared to US$44.37 billion during FY19. The similar number for FY21 (up to September-2020) was US$30.0 billion. The bulk of FDI equity flow is in the non-manufacturing sector. There is a reduction in the share of manufacturing in the FDI flows. Within the manufacturing sector, industries like automobile, telecommunication, metallurgical, non-conventional energy, chemical (other than fertilizers), food processing, and petroleum & natural gas get the bulk of FDI equity flows.

The Government of India has undertaken numerous initiatives to empower the MSMEs to tide over the present crisis and become drivers of growth for the Indian economy. Economic Survey notes that with more than 6 crore MSMEs, the sector has been the backbone of the economy and plays a crucial role in employment generation and in contribution to GDP. The sector employs more than 11 crore people, contributes roughly 30 per cent to the GDP, and contributes half of the country’s exports helping in building a stronger and a self-reliant India.

The MSME sector was one of the worst hit sectors during the nation-wide lockdown. The Economic Survey notes that several corrective and supportive measures have been taken by the Government to bring the sector on track.

The Economic Survey says that in order to boost industrial production, incentivize manufacturing and enhancing India’s exports, the Government of India has introduced the Production-Linked Incentive (PLI) Scheme in the 10 key sectors under the aegis of Atmanirbhar Bharat. The scheme will be implemented by the concerned ministries with an overall expenditure estimated at ₹ 1.46 lakh crore and with sector specific financial limits. These schemes and policies are expected to further boost the manufacturing in export sector in the country. 

The Economic Survey has highlighted the relevance of continued need for strong fiscal support, incentives to manufacturing infrastructure sector, public private partnerships in appropriate areas and process reforms to further boost all round economic development and growth.

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