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    GST Council to take a view on GST on UPI MDR: Sources
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September 24, 2026
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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
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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
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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
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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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Uniqus Consultech and Sustainable Lab to Partner for Deployment of Uniqus’ Proprietary Tech Platform for ESG Reporting in Japan

June 4, 2025

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Uniqus’ ESG UniVerse platform provides infrastructure for streamlined disclosures, automates calculation of emissions and aids integration of non-financial data into management decision-making Mumbai, Maharashtra, India – Business Wire India Uniqus Consultech, a tech-enabled global platform that offers consulting solutions in the accounting & reporting, finance operations, governance, risk, ESG, and technology domains, is proud to announce a strategic partnership with Sustainable Lab, a leading Japan-based ESG data solutions provider. The partnership involves using Uniqus’ technology platform, ESG UniVerse, to enable companies in Japan meet their ESG reporting requirements.

ESG UniVerse has already been deployed successfully by companies across the globe. The platform incorporates features which that help organizations traverse efficiently through their entire ESG journey, ranging from disclosures and greenhouse gas accounting to value chain assessment. With a unique blend of strong ESG domain capabilities and innovative GenAI-based technology, ESG UniVerse streamlines data management, enhances user experience, and supports organizations in achieving their long-term ESG goals.

This partnership has led to the launch of TERRAST, that is powered by ESG UniVerse. The platform will be leveraged to assist clients in Japan on ESG reporting including some of the newer frameworks such as the Sustainability Standards Board of Japan (SSBJ) and the Corporate Sustainability Reporting Directive (CSRD).

The challenge of accurate ESG disclosure and internal data management With Japanese companies preparing to implement SSBJ standards from fiscal year 2027 and CSRD requirements from 2028, the need for a reliable, scalable ESG data management tool is rising. Many companies still rely on manual processes to gather data from domestic and international sites, making it difficult to meet increasing regulatory expectations, ensure transparency, and establish workflows robust enough to withstand third-party assurance.

The built-in features of TERRAST and ESG UniVerse address these challenges and the platform has been further customized to support compliance with SSBJ and CSRD regulations. The platform will continue to be enhanced with new features over time.

Key features of the platform include: • Multi-framework compatibility: Compliant with SSBJ, CSRD (ESRS), and other global ESG frameworks. Users can select multiple frameworks, and the system auto generates templates tailored for each requirement.

• Flexible data collection and integration: Supports API connections, OCR-based GHG calculations, and bulk Excel uploads, and companies with existing data systems can continue using them.

• Governance-ready architecture: Include input/update/approval logs, role-based access control, and hierarchical design, all supporting third-party assurance requirements.

• Advanced analytics and visualization: Flexible dashboards, supporting management insights and internal communication.

• Framework aligned output: Generates structured outputs that align with regulatory requirements.

• Non-financial data as strategic management information: Custom KPIs aligned with company-specific materiality to leverage non-financial data for strategic decision-making.

• Gen AI capabilities: Enhance data collection & analysis, enriches content for reporting & disclosures, facilitates research across ESG landscape & provide insights for meeting an organization’s short & long term ESG vision.

Jamil Khatri, Co-Founder & CEO of Uniqus Consultech, commented, “At Uniqus, we are committed to supporting our clients with innovative technology and deep expertise in ESG. The partnership reflects our philosophy of fusing deep domain expertise with scalable technology to solve real-world problems. As regulatory expectations around ESG evolve, companies need modern platforms that are both robust and agile. Our partnership with Sustainable Lab combines the best of global tech and local insight, empowering organizations to lead with transparency and purpose.” Rajesh Nair, Partner at Uniqus Consultech, added, “We are excited to partner with Sustainable Lab to bring our ESG UniVerse platform to Japanese companies preparing for SSBJ and CSRD compliance. This collaboration delivers a powerful, integrated solution that streamlines ESG data management and reporting, helping organizations meet evolving regulatory requirements and leverage non-financial data for better decision-making.” Kotaro Takahashi, COO at Sustainable Lab, stated, “At Sustainable Lab, we have provided data driven ESG solutions and hands-on support to numerous major corporations. We are delighted to partner with Uniqus, a firm with a strong global track record, to offer a disclosure solution tailored to the needs of Japanese companies. We are already in discussions with several large Japanese multinational firms regarding adoption, and we will continue to expand our outreach. Through this solution, we aim to enhance the efficiency and reliability of ESG disclosure practices and support the realization of sustainable management for our clients.” About Uniqus Consultech Uniqus Consultech is a global tech-enabled consulting company that specializes in Accounting & Reporting, Governance, Risk & Compliance, Tech, and ESG Consulting. The Company is co-founded by consulting veterans Jamil Khatri and Sandip Khetan and backed by marquee investors such as Nexus Venture Partners, Sorin Investments, UST, and other angel investors globally. Anu Chaudhary, a global ESG specialist with over 20 years of experience, serves as the Global Head of ESG. Abhijit Varma, a veteran technology specialist, leads Tech Consulting globally.

Uniqus has a global team of 550+ professionals led by 60+ Partners & Directors across eleven offices in the USA, Middle East, and India. The company serves more than 250 clients, including marquee names in each of the markets it operates in.

Uniqus is committed to leveraging technology and an integrated global delivery model to provide best-in-class consulting services to its clients.

For more information, please visit: www.uniqus.com Stay connected with us on LinkedIn | Twitter | YouTube About Sustainable Lab Inc.

Sustainable Lab is a leading ESG tech company offering a comprehensive suite of ESG data solutions including: • TERRAST, one of Japan’s largest ESG data analysis platforms for institutional investors and financial institutions • TERRAST powered by Uniqus, a disclosure and analytics solution for large, listed companies • TERRAST for Enterprise, an ESG data aggregation and visualization tool for SMEs and suppliers • TERRAST TV, a sustainable company directory Sustainable Lab also offers advanced solutions for visualizing the connectivity between financial and non-financial information, supporting a wide range of clients with data science, sustainability, and finance expertise. Sustainable Lab’s mission is to enable data driven ESG management across organizations of all sizes, seamlessly connecting social/environmental impact and economic value.

For more information, please visit: https:uslab.net (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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