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

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Innovation is key to India’s future: Shri Piyush Goyal at National Intellectual Property Awards 2024

March 27, 2025

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Shri Piyush Goyal Calls for AI and Data Analytics in Trademark Searches, Strengthened Copyright Protection

Innovation is the key to India's march towards Viksit Bharat. This was stated by Union Minister of Commerce & Industry, Shri Piyush Goyal at the National Intellectual Property Awards 2024.

The National Intellectual Property (IP) Awards are conferred annually to recognize and reward individuals, institutions, organizations, and enterprises for their outstanding contributions to IP creation and commercialization. These awards play a crucial role in strengthening the IP ecosystem in India and fostering innovation and creativity. The National IP Awards encourage effective IP portfolio management, which significantly impacts innovation across various industry sectors. The award function was held at Bharat Mandapam, New Delhi, today. Judge of Delhi High Court, Justice Prathiba Maninder Singh was present on the ocassion.

Shri Goyal emphasized the government’s commitment to strengthening India’s intellectual property (IP) ecosystem through legislative changes, administrative reforms, and new initiatives aimed at fostering innovation and research. He said that, “This is the sangam of tradition and technology. Innovation has always been in our DNA. We are very proud that ‘zero’ originated from India. Chess, too, is now being recognized as a game that originated from our ancient tradition of Chaturanga. Innovation will define India’s journey towards becoming a Viksit Bharat.”

Highlighting the significance of research and development (R&D), Shri Goyal stressed that no country can claim to be developed without focusing on innovation, new ideas, and technology-driven progress. “In our Amrit Kaal, as we work towards making India a resilient economy, R&D will play a crucial role. We are moving towards becoming a powerhouse of new technologies and ideas,” he added.

Shri Goyal announced the government’s continued efforts to support scientific advancements through the Anusandhan National Research Foundation (NRF), which will facilitate collaboration between the government, private sector, and academia. “The NRF will be instrumental in fostering enthusiasm for science and technology innovation among stakeholders,” he noted.

The Minister also highlighted key achievements and reforms in India’s IP landscape. India’s ranking in the Global Innovation Index has improved significantly, from 81 in 2015 to 39 in the latest ranking. India now has the sixth-largest trademark filings globally, with patent grants reaching approximately 100,000 last year. There has been a reduction of fees by 80% for women entrepreneurs, startups, and MSMEs to encourage greater participation in the IP ecosystem. The government has implemented digital interventions to streamline trademark applications and patent processes. The recruitment of approximately 400 new patent examiners currently undergoing training will expedite patent processing and ensure speedy grant and protection of inventions. The inauguration of a state-of-the-art IP office building in Dwarka, accommodating over 750 officers, will enhance operational efficiency.

To further strengthen India’s IP framework, Shri Goyal called for more judicial support in IP-related cases. He proposed setting up specialized IP benches in High Courts and introducing an internship system for young law students to familiarize them with the IP ecosystem.

Shri Goyal emphasized the need for modern technologies such as AI and data analytics in trademark searches and IP enforcement. He also stressed the importance of stronger copyright protection measures to safeguard the interests of innovators and businesses.

Encouraging grassroots innovation, he lauded the Atal Tinkering Labs initiative, which fosters innovation among schoolchildren. He also advocated for greater public-private-academic partnerships, leveraging Anusandhan NRF funds to drive research initiatives.

Quoting Prime Minister Shri Narendra Modi, Shri Goyal concluded, “The significance of science is not only in invention and development but also in fulfilling the aspirations of the last person. Inclusive growth remains our mantra, and scientific progress must support our efforts to bring development benefits to the most marginalized.”

Award Categories and Winners

The National Intellectual Property Awards 2024 were conferred across the following 13 categories:

S. No.

Category of National IP Awards

Name of Awardee

1

Top Indian Individual -  Patents

Sidramappa Shivashankar Dharane (Male)

 

 

Dr. Swagatika Panda (Female)

2

Top Indian Individual - Designs

Dr. Anusha P. (Female)

3

Top Indian Academic Institution - Patents

Indian Institute of Technology Kanpur

4

Top R & D  Institution/Organization for Patents Filing, Grant & Commercialization

Anna University

5

 Top Public /Private Company  for Patents Filing, Grant & Commercialization in India

 

a. Manufacturing Sector

Tata Steel Limited

b. Services Sector

 Jio Platforms Limited

6

Top Indian MSME for Patent Filing, Grant & Commercialization

 West Bengal Chemical Industries Ltd.

7

Top Start-up for IP Filing, Grant/Registration and Commercialization

Numeros Motors Pvt. Ltd.

8

Top Indian Company/Organisation - Designs

Indian Institute of Technology, Bombay

9

Top Indian Company /Organization for creating Brand in India and Abroad

Biocon Biologics Ltd.

10

Best Incubator for Nurturing the IP

AIC - Nalanda Institute of Technology Foundation

Special Citations

Special citations were also awarded in the following four categories:

S. No.

Category

Name of Awardee

1

For Technology and Innovation Support Center  (TISC)

West Bengal State Council of Science & Technology, West Bengal

2

For Patent Information Centre (PIC)

West Bengal State Council of Science & Technology, West Bengal

3

For Institution's Innovation Council (IICs)

Pimpri Chinchwad College of Engineering, Pune

4

For Atal Tinkering Laboratories (ATL)

DCM Presidency School, Ludhiana.

Additionally, a Jury Certificate Award was conferred for a Rural Centric Invention to-Sagar Defence Engineering Private Limited & Coromandel International Limited.

A Letter of Appreciation, as recommended by the Award Jury, was also presented in the following categories:

S. No.

Category

Name of Awardee

1

Of Special Citation- ATL

Amity International School, Sector-6, Vasundhara, Ghaziabad

2

Of Top Public /Private Company  for Patents Filing, Grant & Commercialization in India

NTPC Energy Technology Research Alliance (NETRA)

Linking of National IP Awards with WIPO Awards

As part of the global recognition initiative, the National IP Awards are linked with the World Intellectual Property Organization (WIPO) Awards, which include:

  1. WIPO National Award for Inventors – Recognizing inventors for their contributions to national wealth and development.
  2. WIPO National Award for Enterprises – Encouraging businesses, including SMEs, to leverage the IP system in their operations.
  3. WIPO National Award for WIPO Users – Recognizing early adopters or innovative users of WIPO’s IP services.

These WIPO Awards were conferred in the following categories:

S. No.

Category

Name of Awardee

1

WIPO IP Enterprises Trophy

Jio Platforms Limited

Tata Steel Limited

2

WIPO Medal for Inventors

Sidramappa Shivashankar Dharane

3

WIPO Users Trophy

Biocon Biologics Limited

 

 

Indian Institute of Technology Kanpur

The National Intellectual Property Awards 2024 reaffirm India’s commitment to fostering innovation, strengthening its IP framework, and accelerating growth in the intellectual property landscape.

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