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September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
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.

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News and Press Release

ONDC Revolutionizes India's E commerce: Empowering Small Businesses, Lowering Costs, and Expanding Buyer Choices

July 22, 2025

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ONDC Launches “Sahayak” WhatsApp Bot in 5 Languages to Support Small Sellers, Plans Expansion to 22 Indian Languages

50% of Beneficiaries under TEAM Scheme to be Women-Led Enterprises

SIDBI, NABARD Partner with ONDC to Support SHGs and Social Sector Sellers

eSaras Platform Goes Live on ONDC with 800+ SHG-Made Handicraft Products

Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, aimed at promoting open networks for all aspects of the exchange of goods and services over digital or electronic networks. ONDC reduces the cost of customer acquisition and transaction processing for sellers by enabling a decentralized and interoperable network. ONDC is not an e-commerce platform or a marketplace but an open protocol on which platforms/marketplace can be built.

Unlike conventional e-commerce platforms, ONDC fosters direct interactions between buyers and sellers across multiple platforms, reducing dependency on any single entity.

A seller onboarded through any ONDC-compliant seller application becomes discoverable to all ONDC-compliant buyer applications, enhancing market access and reducing the cost of customer acquisition. ONDC lowers the cost of customer acquisition through two key mechanisms:

Increasing the customer pool – ONDC brings digitally underserved and unserved consumers into the e-commerce ecosystem, expanding the reach for sellers.

Leveraging digital platforms with existing customer pools – ONDC integrates with fintech, mobility, and other digital platforms that already have established user bases, enabling sellers to tap into a broader audience.

Further, competition among seller applications ensures that transaction fees remain competitive compared to the high commission fees charged by traditional e-commerce platforms.

The exact margin varies based on the network participants and their commercial terms.

ONDC is designed as an open network where any buyer or seller can transact without being restricted to a single platform. The key features include:

i. Interoperability: Sellers onboarded on any platform within the ONDC network can be discovered by buyers on any other platform, reducing the dominance of a few large players.

ii. Unbundling: Unlike conventional e-commerce models, ONDC allows different entities to specialize and focus on their niche proposition without worrying about having to bring together the entire value chain of commerce. This ensures a competitive and diverse marketplace.

iii. Increased Competition: The decentralized nature of ONDC promotes competition among platforms, driving down commissions and making digital commerce more viable for small and medium businesses.

Several ministries at the central and state levels are driving the adoption of ONDC to empower small businesses, retailers, artisans, and suppliers. Notable measures taken by various Ministries/Departments and State Governments are as under:

Initiatives taken by Central Government:

i. The Ministry of Micro, Small and Medium Enterprises has launched Trade Enablement and Marketing (TEAM) scheme, which facilitates the onboarding of micro and small enterprises onto ONDC by providing financial assistance for onboarding, cataloguing, account management, logistics, packaging material and design. Notably, half of these beneficiary Micro, Small and Medium Enterprises (MSMEs) will be women-owned enterprises.

ii. eSaras.in, the e-commerce platform under National Rural Livelihood Mission (NRLM) of Ministry of Rural Development, is live on ONDC - with operations through a central warehouse in DELHI-NCR. e-Saras is integrated with ONDC with some 800+ handcrafted products made by Self Help Groups (SHGs) now available online.

Initiatives taken by State Governments:

i.Himachal Pradesh: The state government, through its HimIra brand under Himachal Pradesh State Rural Livelihood Mission (HP SRLM), is facilitating the onboarding of local and indigenous products onto ONDC.

ii. Andhra Pradesh: Implementing a comprehensive program to help small businesses, including SHGs and cooperatives, sell their products through ONDC.

Additionally, ONDC has taken several measures to onboard and support local businesses and small sellers, including:

i. Supporting a large network of startups and small entrepreneurs to build solutions for local businesses and small sellers to access and benefit from eCommerce.

ii. Developing, supporting and disseminating Training and Capacity building programs for small businesses and local sellers to join and benefit from digital commerce including 3000+ hours of virtual training on ONDC & 200+ hours of technical training through open digital sessions, attended by 50,000+ startups, students, business leaders etc.

iii. ONDC has developed a Handbook to help sellers (especially first time sellers) succeed in digital commerce in 14 languages and are being distributed widely

iv. ONDC is also actively working to onboard various SHGs, social sector sellers and micro-entrepreneurs to the ONDC network with the aid of ecosystem partners like SIDBI, NABARD and other philanthropic and developmental organizations.

v. Common Services Centers have gone live on ONDC to connect villages in India to the national digital market.

ONDC has made digital commerce accessible across India. Various steps taken by ONDC for making digital commerce more accessible are as under:

i. ONDC has developed a multi-lingual Seller Handbook to help sellers (especially first time sellers) succeed in digital commerce in 14 languages and are being distributed widely

ii. ONDC has partnered with Bhashini to improve app development and e-commerce in Indic languages.

iii. ONDC Sahayak - Whatsapp Bot “ONDC Sahayak” launched in 5 languages, to be extended to 22 languages, to help sellers and buyers get information about ONDC.

iv. ONDC-enabled buyer and seller applications are encouraged to provide interfaces in Indian languages to cater to diverse users.

v. By allowing various digital commerce platforms to participate, ONDC facilitates regional businesses in connecting with customers without language barriers.

ONDC increases options for buyers in the following ways:

i. Enabling a wider seller base: Any seller, irrespective of platform or location, can be discovered by buyers across multiple ONDC-compliant buyer applications.

ii. Diverse product offerings: ONDC brings first-time sellers into digital commerce, allowing small businesses, local artisans, and regional brands to gain visibility alongside large enterprises, expanding the range of available products.

iii. Competitive pricing: Increased seller participation enhances price discovery, fosters competition, and ensures cost benefits for consumers.

iv. Hyperlocal market access: ONDC enables local businesses and niche markets to reach digital buyers, increasing the availability of region-specific and specialised products.

This information was given by the Minister of State for Ministry of Commerce & Industry, Shri Jitin Prasada, in a written reply in the Lok Sabha today.

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