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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
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    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
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September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
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NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.

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Customs, DGFT & SEZ

Intervention by Commerce & Industry Minister Shri PiyushGoyalat the G-33 Ministerial Meeting at the 12th WTO Ministerial Conference held in Geneva

June 13, 2022

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Thank you very much Chairperson. Ministers, Excellencies, Distinguished delegates, Ladies and Gentlemen. I would like to thank Indonesia for organising the G-33 meeting at the very start of the MC-12 giving us an opportunity to renew our solidarity. It is clear that the two items primarily on the agenda this time will look upon a solution to public stockholding, and the special safeguard mechanism that many of the earlier speakers before me have spoken about.

At the outset, I would like to say that it would have been better if the Director General was also present to hear the concerns of the developing world and I feel it is unfortunate that in her brief comments she referred to a decision that has been made not once, not twice but thrice, as a mere iteration and I would urge the Chair to convey if it is agreed by all my friends here, that it was not a declaration but a decision that was made in 2013, again in 2015 and then again in 2018 that we are sitting down here to discuss.

India has had an experience to transit a food deficit nation to a largely self sufficient food nation. In our state support in the form of subsidies and other Government interventions played a very important role to achieve this sufficiency. We are fighting for all the developing countries including the LDCs collectively based on our own journey, our own experience.

Let us look at the story so far. It starts from the Uruguay round where to my mind,  after 8 years of negotiations right up till 1994 when the Marrakesh agreement was finally decided and led to the establishment of the WTO. Agriculture got a raw deal- imbalanced outcomes and those who were distorting markets by granting import subsidies secured to continue to grant export subsidies under the Agreement on Agriculture (AOA). At that time many of us, rather most of us being less developed or least developing countries were not giving out subsidies, so therefore since we were not giving subsidies in the base period, we lost our right to grant significant subsidies in the future. Further, the rules of agreement largely suited the developed countries socio-economic architecture, higher entitlement of subsidies for the developed world were institutionalised and the very formula for calculation of market price support was quite flawed and frozen at that point of time. 

Developing countries including the LDCs are always at the receiving end, we are made to compromise, sometimes debate multiple times on the same subject and also times where there's already been agreed is reopened leading to backsliding of earlier mandates, and I will explain what I mean by that. In the Ministerial Conference of 11th December 2013, it was decided and I repeatedly decided that the members agree to put in place an interim mechanism, to negotiate on an agreement for a permanent solution for adoption by the 11th Ministerial Conference. The process had been fixed and we agreed on this, in lieu of the agreement on trade facilitation which the developed world was very keen to adopt.

I am reading out from this declaration, I believe it was an important element in para 8 of work program, there is a para 8 which says and I quote “Members agree to establish a work program to be undertaken in the committee on agriculture to pursue this issue with the aim of making recommendations for a permanent solution, para 9 says “Members commit to the work program with the aim of concluding it no later than the 11th Ministerial Conference” and para 10 “The general council shall report to the 10th Ministerial Conference… the progress made on the work program.”  I am reminding you this because what is sought to be done at this conference, the Ministerial Conference 13 is to rewrite that same script.

On 28th November 2014, the General Council has reiterated the decision of 27th November 2014 on public stockholding security purposes and then it states recognising the importance of public stockholding of food security purposes for developing countries, besides that again it was a decision until a permanent solution is agreed and adopted … in pursuance of public stockholding programmes in security proposies, it was decided and what we call peace clause till the permanent solution is finalised will continue.  Again they had said if a permanent solution is not approved and adopted in the 11th Ministerial conference the mechanism referred to in para 1 shall continue to be in place until a permanent solution is agreed and adopted and for which again they say, the negotiations  for the permanent solution on the issue of public stockholding for food security purposes shall be pursued on priority, this is 2014. Also, they said the negotiation on this subject shall be held in the committee on Agriculture in a special session in dedicated session and accelerated time period, distinct from the agricultural negotiations under the Doha Development Agenda.

Again, while reporting in 2015 to the Ministerial Conference in tenth session,  they took note of progress made so far and decided that they reaffirm the General council decision of 2014 members shall engage constructively to negotiate and make all concerted efforts to agree and adopt developments made. Why I am saying all this is what is the logic of saying that there will be a fresh work program and that there will be a ministerial declaration in MC12. It is already out there, it is already an ongoing process. Is it a point to restart the negotiations from scratch and bringing it at par with all the different subjects which are at different stages of negotiations as sought to be finalised today, is it being done to try and fish us out on an agreement in fisheries by offering a work program. I still think we all need to reflect on what was decided should be pursued and included this time or whether it should once again be agreed for a work program and taking us back to square one, eight years or nine years after the initial agreement. 

Friends, India and all of us in this G33 group of members have long been calling for accessible and effective Special Safeguard Mechanism (SSM) in order to address the destabilizing and crippling effects of import surges and downward price movement largely due to huge subsidies by the developed members. They already have an aggregate measure of support entitlement which is quite large since there was already huge subsidies which were kept at a standstill many years almost 5 years ago. This is so, more particularly in the wake of volatility of the prices observed post pandemic an outcome remains for many members an important element of the agricultural package.

Similarly, you will agree with me that the Agreement on Agriculture which is already riddled with deep imbalances favour the developed countries which have created the rules against many developing countries and that is quite evident from what is happening in the world’s part.

It is important that as a first step of agricultural reform the historical asymmetries  and imbalances must be corrected in order to ensure a rule based fair and equitable order. We must level the playing field and give our farmers a chance to provide security to our people. We must continue to preserve the existing S&DT for the developing countries which will help our struggling farmers particularly those who are keeping out the subsistence living. The flexibilities provided under the development clauses under Article 6.2 of the Agreement on Agriculture should not be touched in the name of domestic support reform. 

In conclusion, let me stress that all of us must work collectively to retain the cohesion of this coalition and strengthen it further by reaching out to other like minded countries, secure their support for a fair, balanced and development centric outcome, which must include the permanent solution to public stockholding and the Special Safeguard Mechanism (SSM). 

Thank you for your attention, Ladies and Gentlemen and Chair. But, I wanted to bring back the entire historical perspective so that each one of us back to our leadership and takes a more stronger to be able to achieve the decided outcomes.

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