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September 24, 2026
Show AI Summary
Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
Show AI Summary
Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
Show AI Summary
Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
Show AI Summary
Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
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Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
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BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
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Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.

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Union Finance Minister Smt. Nirmala Sitharaman inaugurates first-ever National Conference of Enforcement Chiefs of the State and the Central GST Formations in New Delhi

March 5, 2024

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FM exhorts GST officials to engage with stakeholders to understand their concerns, enhance compliance, streamline processes, and work collaboratively towards making the tax system more transparent and efficient

GST has simplified indirect taxation and made lives of people easier: MoS Finance

Revenue Secretary outlines key priorities for an effective and efficient GST enforcement and emphasises the need for feedback to further improve policy and technology interventions

CBIC Chairman highlights importance of maintaining balance between enforcement and fairness in sync with instructions of CBIC

The one-day inaugural conference saw in-depth discussions on GST evasion typologies, preferred methods, and prevalent sectors, importance of collaborative efforts, need to utilise technology effectively, and proactively preventing fraudulent behaviour by identifying high-risk taxpayers

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the first-ever National Conference of Enforcement Chiefs of the State and the Central GST Formations, in New Delhi, today. The conference provided one more step towards facilitating understanding and streamlining operations of the tax authorities in enforcement actions undertaken by different indirect tax authorities.

 

Union Minister of State for Finance Shri Pankaj Chaudhary; Shri Sanjay Malhotra, Secretary, Department of Revenue, Ministry of Finance; Shri Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC); other senior officers of the Department of Revenue, GST Enforcement Chiefs of the States and Central GST authorities, CEO and representative of GSTN, other heads of enforcement like the Chairman Central Board of Direct Taxes (CBDT), Director, Directorate of Enforcement (ED), Director Central Narcotics Bureau (NCB); and DG, Central Economic Intelligence Bureau (CEIB) were also present at the occasion.

In her address on the occasion, the Union Finance Minister commended the untiring efforts of both the Centre and States GST formations since 2017 in making the GST a reliable, goal-oriented and capable system by leveraging technology.

The Union Finance Minister urged all the GST formations to leverage technology to plug the loopholes as well provide better taxpayer services. Highlighting the importance of innovation, the Union Finance Minister advocated for sharing of emerging best practices, emphasising the need for seamless coordination across States in the larger national interest.

Further, Smt. Sitharaman stressed on the significance of holding such meetings regularly among enforcement chiefs of Centre and States, and to leverage this platform for discussing obstacles, exchanging successful strategies, and collectively advance towards a more robust and harmonious tax infrastructure.

The Union Finance Minister also stressed that clarity on classification related issues should be looked into at the earliest through appropriate channels.

The Union Finance Minister said that the past 10 years under the leadership of Prime Minister Shri Narendra Modi have shown that systems can be cleansed and made more effective through persistent efforts.

Smt. Sitharaman exhorted the GST officials to engage with stakeholders to understand their concerns, enhance compliance, streamline processes, and work collaboratively towards making the tax system more transparent and efficient.

Appreciating the initiative of organising this conference, Shri Chaudhary said that it will help to streamline the various issues related to indirect tax enforcement and also help in developing strategies for oncoming challenges through brainstorming during the conference.

Hailing GST as a big reform in India, Shri Chaudhary said that GST has simplified indirect taxation and brought down the effective tax rate, thereby made lives of people easier. Shri Chaudhary exhorted the GST formations to work towards facilitating more and more taxpayers.

Citing the multi-fold increase in GST collections, Shri Chaudhary appreciated the contribution of the GST authorities in achieving the vision of Prime Minister towards achieving ‘Sabka Saath, Sabka Vikas’. He credited the leadership of Prime Minister and Finance Minister in propelling India's economic journey from fragile five in 2014 to top five now. Shri Chaudhary expressed optimism about achieving a monthly target of Rs. 2 lakh crore in GST revenue soon.

In his address on the occasion, Shri Sanjay Malhotra, Revenue Secretary emphasised the crucial role of enforcement in ensuring the success of the GST system. Shri Malhotra outlined key priorities - targeting high-risk areas, combating tax evaders, balancing enforcement with taxpayer rights, strengthening collaboration between central and state authorities, and gathering feedback for improvement in policy and technological interventions.

Setting the context of the one-day conference, Shri Sanjay Kumar Agarwal, CBIC Chairman said that fake entities and GST evasion not only erode our national revenue but also distort fair competition and fuel an underground economy. He highlighted the importance of strong data analytics and use of technology and the need to stay ahead of the perpetrators of GST evasion. He reminded the officers to follow the instructions issued by CBIC in respect of procedure to be followed during enforcement action.

In his welcome address, Additional Secretary, Revenue, highlighted this platform's unique potential for fostering collaboration and sharing best practices in GST enforcement, bringing together Central and State GST authorities.

During the one-day conference, various presentations were also made by the GST formations. As per data presented by GST Council Secretariat, the nationwide crackdown on fake registrations and bogus billing from May 2023 alone has resulted in detection of ITC tax evasion of Rs. 49,623 crore involving 31,512 bogus firms. CBIC presented that it has detected fake ITC evasion of Rs.1,14,755 crore from the year 2020 till date.

Maharashtra State GST showcased the real time monitoring dashboard of suspected non-genuine tax payers (NGTPs). As on 29th February 2024, State has identified 41,601 suspected NGTPs out of which 6,034 NGTPs were detected. It was further highlighted that detection was based on various intelligence gathered during registration, e-way bills and inputs from CBIC/other states and outlined the steps taken to improve detection rate at an early stage.

During the focussed thematic sessions, the delegates from Central and State GST formations discussed various issues through in-depth discussions such as GST evasion typologies, preferred methods, and prevalent sectors, importance of collaborative efforts, need to utilize technology effectively, not only to detect existing fraudulent behavior but also to proactively prevent it by identifying high-risk taxpayers.

Participants deliberated on addressing the menace of fake invoicing and its associated issues like money laundering, identity theft, and circular trading. Best practices and deterrent actions implemented by Directorate General of GST Intelligence were also shared.

The conference discussed navigating legal and operational challenges faced by enforcement authorities while ensuring minimal disruption for businesses. It was highlighted that CBIC and DGGI have issued instructions emphasising the need to have more taxpayer-friendly approach to GST enforcement, focusing on avoiding unnecessary audits on issues involving prevalent trade practices and prioritising evidence-based inquiries. It also advocates for considering location convenience and requesting information formally through letters instead of using summons.

GSTN and DG Systems, CBIC outlined the various analytical tools available to the tax officers to detect risky taxpayers and combat GST evasion. Discussion was also centred around ways of streamlining the tools and to make them available to all GST enforcement formations. DG Analytics and Risk Management showcased risk analytical tool to detect potential GST evaders early in the cycle even before filing of first return.

Gujarat highlighted the recent success of GST Seva Kendras in reducing the number of fake registrations. The recent case involving fake registration wherein 20 people have been arrested under Gujarat Control of Terrorism and Organised Crime Act, 2015 was also highlighted as a case study of best practice.

Karnataka highlighted unique case typologies such as bill trading in services sector and mild steel scrap, misclassification etc. West Bengal highlighted the benefits of establishing a cyber forensic lab aiding investigation of GST frauds. Uttarakhand, Sikkim and Andhra Pradesh also presented their best practices in GST enforcement.

The conference facilitated experience sharing and knowledge transfer between various states and the central government. Participants reviewed past enforcement actions, extracted valuable learnings, and explored future work areas for tax enforcement officers.

Based on the positive feedback, the conference established the need for regular experience sharing. It was decided to conduct the National Conference of Enforcement Chiefs of State and Central GST Formations bi-annually moving forward.

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