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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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HIGHLIGTS

August 6, 2025

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New Delhi, Aug 6 (PTI) Following are the top stories at 9.15 pm: NATION DEL107 PM-CHINA-2NDLD VISIT

As part of 2-nation trip, PM Modi expected to visit China later this month New Delhi: After a gap of over seven years, Prime Minister Narendra Modi is expected to travel to China later this month to attend the annual summit of the Shanghai Cooperation Organisation (SCO), people familiar with the matter said on Wednesday.

DEL109 2NDLD UTTARKASHI

Rescuers retrieve two bodies in Dharali amid bad weather; NDRF team reaches site Uttarakashi (Uttarakhand): As the sun set over the flood-ravaged Himalayan village of Dharali with 190 people rescued and two bodies recovered on Wednesday, fears mounted for those still trapped under the massive river of sludge that buried scores of houses, trees and cars.

DEL78 OPPN-PAR-LD LOGJAM

Oppn suggests debate on 'electoral reforms' as 'middle path' to end parliament logjam on SIR New Delhi: The Opposition has proposed allowing a discussion on "electoral reforms" as a "middle path" to end the deadlock in Parliament over the demand for a debate on the Special Intensive Revision (SIR) of electoral rolls in Bihar, according to sources within the opposition parties.

DEL104 VP POLL-LD SHINDE

Eknath Shinde meets PM Modi, Amit Shah; announces support to NDA for vice-presidential poll New Delhi: Shiv Sena leader and Maharashtra Deputy Chief Minister Eknath Shinde on Wednesday announced his party's "unconditional support" to the BJP-led alliance, of which he is a key member, for the vice-presidential election scheduled for September 9.

DEL53 PM-KARTAVYA BHAVAN-LD INAUGURATION (RPT)

PM Modi inaugurates Kartavya Bhavan New Delhi: Prime Minister Narendra Modi on Wednesday inaugurated Kartavya Bhavan, the first of the 10 upcoming Common Central Secretariat buildings which will house offices of all ministries.

PAR17 LS-2NDLD SIR-RIJIJU

Bihar SIR cannot be discussed in House as matter before Supreme Court: Rijiju in Lok Sabha New Delhi: Turning down the Opposition's demand for a discussion on electoral roll revision in Bihar, the government asserted in the Lok Sabha on Wednesday that matters pending before the judiciary cannot be discussed on the floor of the House.

DEL111 DL-TL-CM 2ND LD PROTEST

Telangana CM leads protest in Delhi for Prez nod to state backward classes quota bills New Delhi: Telangana Chief Minister A Revanth Reddy on Wednesday led a protest at the Jantar Mantar here to demand Presidential assent for the Backward Classes reservation bills and alleged that the BJP-led central government was stalling the bills passed by the state legislature as it was "anti-OBC".

DEL83 UKD-CLOUDBURST-EXPERTS

Did cloudburst cause Uttarkashi flash flood? Experts say rain data doesn't support claim Dehradun: A cloudburst in the upper catchment of the Kheer Ganga river is widely believed to have triggered the flash flood in Uttarkashi's Dharali, but experts feel the amount of rain the Uttarkashi district received on Tuesday was not enough for it to be termed a "cloudburst".

DEL70 JK-LD OMAR

Wrote to parties to push for bill on restoration of JK's statehood in Parliament: Omar Abdullah Srinagar: Chief Minister Omar Abdullah on Wednesday said he has written to several parties with a sizeable presence in Parliament, seeking their support for the introduction of a bill for the restoration of Jammu and Kashmir's statehood in the ongoing Monsoon session.

BOM31 MH-PIGEONS-3RDLD PROTESTERS

Ruffled feathers: Protesters remove tarpaulin from Mumbai pigeon feeding spot, clash with cops Mumbai: High drama unfolded in Mumbai's bustling Dadar area as angry protesters on Wednesday morning forcibly removed the tarpaulin put up by the city civic body to cover a popular pigeon feeding spot in compliance with a Bombay High Court order, leading to clashes with police.

BOM28 MH-ELEPHANT-2ND LD RELOCATION

Vantara proposes rehab centre for ‘Madhuri’ near Kolhapur Mumbai: Vantara, the Jamnagar-based animal rehabilitation centre, on Wednesday proposed to work in close coordination with Maharashtra Government and the Jain math to establish a satellite rehabilitation centre for elephant Madhuri (also called Mahadevi) at Nandani in Kolhapur district.

CAL37 OD-STUDENT-LD IMMOLATION

Odisha: College student immolates self after ex-boyfriend threatens to upload intimate pics Kendrapara (Odisha): A female college student died after she allegedly immolated herself at her house in Odisha's Kendrapara district on Wednesday following her former boyfriend's threat to upload her intimate photographs on social media, police said.

MDS9 TN-ECONOMIC GROWTH-LD CM

Stalin says Tamil Nadu's economic growth has increased to 11.19 per cent Chennai: Tamil Nadu Chief Minister M K Stalin on Wednesday said that under the Dravidian model regime, the state's economic growth has increased to 11.19 per cent, touching a new high.

BUSINESS DEL102 BIZ-2NDLD RBI

RBI keeps interest rates unchanged amid uncertainty over Trump's tariffs Mumbai: The Reserve Bank of India (RBI) kept its policy interest rate unchanged on Wednesday as it appeared to have taken a wait-and-watch approach to assess the full unveiling of US President Donald Trump's trade policies as well as transmission of past rate cuts.

PAR19 LS-LD SHIPPING-BILL

LS passes Merchant Shipping Bill; second Bill to be passed in Monsoon session amid din New Delhi: A bill to expand the eligibility criteria for ownership of merchant shipping vessels and provide for investigation and enquiries on marine casualties was passed by the Lok Sabha on Wednesday, after a brief discussion as the Opposition continued with its protests seeking discussion on poll roll revision in Bihar.

LEGAL LGD15 SC-TN-LD WELFARE SCHEMES

SC junks HC order asking TN govt not to use names, photos of CM in welfare schemes New Delhi: In a major victory for the DMK, the Supreme Court on Wednesday set aside an order directing the Tamil Nadu government not to use the name and photos of Chief Minister M K Stalin and other party stalwarts in state welfare schemes.

LGD30 SC-WOMEN ARMY OFFICERS-LD PC

Female, male Army officers can't be evaluated for permanent commission on same criteria, SC told New Delhi: The Supreme Court on Wednesday informed that female and male officers of the Indian Army, comprise two unequal and distinct classes, and can't be considered together for grant of permanent commission on the same criteria and cut-off marks.

LGD24 SC-HAND RICKSHAWS-MATHERAN

SC orders end of ‘inhuman’ hand-pulled rickshaws in Maharashtra's Matheran New Delhi: Dismayed over the use of hand-pulled rickshaws even after 78 years of country's independence, the Supreme Court on Wednesday directed the Maharashtra government to stop the “inhuman” practice within six months in Matheran and switch to e-rickshaws instead.

LGD22 SC-SEXUAL VIOLENCE

Sexual violence by parent tears through foundational fabric of familial trust: SC New Delhi: Observing incestuous sexual violence by a parent "tears through" the foundational fabric of familial trust, the Supreme Court has upheld a man's punishment for raping his minor daughter.

LGD21 DL-HC-DOGS-REHABILITATION

Dog great friend of humans, should be treated nicely: Delhi HC New Delhi: The Delhi High Court on Wednesday said dogs were "great" friends of humans and should be treated nicely as it called upon authorities to ensure dog-human conflict should be minimised in the capital.

FOREIGN FGN39 BIZ-US-INDIA-LD TARIFF

Trump doubles tariff on India to 50 pc for buying Russian oil Washington/New Delhi: US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi's continued purchase of Russian oil, a move that is likely to hit sectors such as textiles, marine and leather exports hard.

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