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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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Customs & Trade

US judge bars government from sending Guatemalan children back, for now

September 1, 2025

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Harlingen(US), Aug 31 (AP) After the US government loaded children onto planes overnight to be sent back to their native Guatemala, a federal judge temporarily blocked the flights — with the youngsters still inside — as their attorneys said authorities were violating US laws and sending vulnerable kids into potential peril.

The extraordinary drama played out over predawn hours on a US holiday weekend and vaulted from tarmacs in Texas to a courtroom in Washington. It was the latest showdown over the Trump administration's crackdown on immigration — and the latest high-stakes clash between the administration's enforcement efforts and legal safeguards that Congress created for vulnerable migrants.

For now, hundreds of Guatemalan children who arrived unaccompanied will stay while the legal fight plays out over the coming weeks.

“I do not want there to be any ambiguity,” said Judge Sparkle L Sooknanan, who said her ruling applies broadly to Guatemalan minors who arrived in the US without their parents or guardians.

Minutes after she wrapped up a hastily scheduled hearing Sunday afternoon, five charter buses pulled up to a plane parked at the border-area airport in Harlingen, Texas. Hours earlier, authorities had walked dozens of passengers — perhaps 50 — toward the plane in a part of the airport that's restricted to government planes, including deportation flights. The passengers were wearing coloured clothing that is used in government-run shelters for migrant children.

The US government insists it's reuniting the Guatemalan children with parents or guardians who sought their return. Lawyers for at least some of the minors say that's nonsense and argue that in any event, authorities still would have to follow a legal process that they did not.

While Sunday's court hearing came in a case filed in federal court in Washington, similar emergency requests were filed in other parts of the country as well. Attorneys in Arizona and Illinois asked federal judges there to block deportations of unaccompanied minors, underscoring how the fight over the government's efforts has quickly spread.

Alarm bells raised among immigrant advocates The episode has raised alarms among immigrant advocates, who say it may represent a violation of federal laws designed to protect children who arrive without their parents.

Shaina Aber of Acacia Centre for Justice, an immigrant legal defence group, said it was notified Saturday evening that an official list had been drafted with the names of Guatemalan children whom the U.S. administration would attempt to send back to their home country. Advocates learned that the flights would leave from the Texas cities of Harlingen and El Paso, Aber said.

She said she'd heard that federal Immigration and Customs Enforcement officials “were still taking the children,” having not gotten any guidance about the court order.

The Department of Homeland Security, Immigration and Customs Enforcement and the Department of Health and Human Services did not immediately respond to requests for comment on Sunday.

Trump administration plans to remove nearly 700 Guatemalan children The Trump administration is planning to remove nearly 700 Guatemalan children who came to the US unaccompanied, according to a letter sent Friday by Sen Ron Wyden of Oregon. The Guatemalan government has said it is ready to take them in.

It is another step in the Trump administration's sweeping immigration enforcement efforts, which include plans to send a surge of officers to Chicago for an immigration crackdown, ramping up deportations and ending protections for people who have had permission to live and work in the United States.

Lawyers for the Guatemalan children said the US government doesn't have the authority to remove the youngsters and is depriving them of due process by preventing them from pursuing asylum claims or immigration relief. Many have active cases in immigration courts, according to the attorneys' court filing in Washington.

Although the children are supposed to be in the care and custody of the Office of Refugee Resettlement, the government is “illegally transferring them to Immigration and Customs Enforcement custody to put them on flights to Guatemala, where they may face abuse, neglect, persecution, or torture,” argues the filing by attorneys with the Young Centre for Immigrant Children's Rights and the National Immigration Law Centre.

An attorney with another advocacy group, the National Center for Youth Law, said the organisation starting hearing a few weeks ago from legal service providers that Homeland Security Investigations agents were interviewing children — particularly from Guatemala — in Office of Refugee Resettlement facilities. HSI is ICE's investigative arm.

The agents asked the children about their relatives in Guatemala, said the attorney, Becky Wolozin.

Then, on Friday, advocates across the country began getting word that their young clients' immigration court hearings were being cancelled, Wolozin said.

Migrant children travelling without their parents or guardians are handed over to the Office of Refugee Resettlement when they are encountered by officials along the US-Mexico border. Once in the US, the children often live in government-supervised shelters or with foster care families until they can be released to a sponsor — usually a family member — living in the country.

The minors can request asylum, juvenile immigration status or visas for victims of sexual exploitation.

Due to their age and often traumatic experiences getting to the US, their treatment is one of the most sensitive issues in immigration. Advocacy groups already have sued to ask courts to halt new Trump administration vetting procedures for unaccompanied children, saying the changes are keeping families separated longer and are inhumane.

Guatemala says it is willing to receive the unaccompanied minors Guatemalan Foreign Affairs Minister Carlos Martínez said Friday that the government has told the US it is willing to receive hundreds of Guatemalan minors who arrived in the US unaccompanied and are being held in government facilities.

Guatemala is particularly concerned about minors who could pass age limits for the children's facilities and be sent to adult detention centres, he said.

President Bernardo Arévalo has said that his government has a moral and legal obligation to advocate for the children. His comments came days after US Homeland Security Secretary Kristi Noem visited Guatemala. (AP) RD RD

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