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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
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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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Ranchi's ICAR-Research Complex says farmers benefitting from its two soybean, snow pea varieties

December 7, 2025

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Ranchi, Dec 7 (PTI) Two soybean and snow pea varieties developed by the ICAR-Research Complex here are rapidly gaining acceptance among farmers and earning recognition at national and international levels for their taste and high nutritional value, a scientist said.

These improved varieties are the result of continuous research conducted over nearly three decades at the centre located in Ranchi's Plandu, Horticulture and Vegetable Science's principal scientist R S Pan said.

"Soybean variety 'Swarna Vasundhara' and snow pea variety 'Swarna Tripti' have gained nationwide recognition. Their popularity among farmers is steadily rising," he said.

The soybean variety was introduced in Jharkhand and other states to provide nutritional and livelihood security among the farmers.

"Based on the recommendation of the Central Sub-Committee on Crop Standards, Notification and Release of Varieties for Horticultural Crops, the variety is now being supplied to farmers in 14 states," Pan said.

Farmers gave a positive response to the soybean variety in Jharkhand, Andhra Pradesh, Bihar, Karnataka, West Bengal, Madhya Pradesh, Odisha, Himachal Pradesh and Chhattisgarh, he said.

'Swarna Vasundhara' has now become a widely recognised identity of Jharkhand, the scientist said, adding that its promotion aligns with Prime Minister Narendra Modi's appeal for India to achieve self-sufficiency in pulses.

The main objective behind developing this soybean variety was to address nutritional deficiencies across all age groups, he said.

"The original germplasm of the soybean was imported from the World Vegetable Centre, Taiwan, and later improved through selection and experimental cultivation in Ranchi. And it is a source of proteins, carbohydrates, lipids, essential fatty acids and minerals," Pan said.

Additionally, it also contains isoflavones, which are anti-cancer compounds, and is beneficial for people suffering from osteoporosis (knee pain) and heart-related ailments, he said.

It could also be preserved in the form of frozen soybeans for a year at -20 degrees Celsius, the scientist said.

Processing units have been set up in Pune and West Bengal to produce soya milk, curd, paneer, rasgulla and other value-added products from the soybean.

"Local farmers are directly benefiting from this. A farmer from Nagri in Ranchi district is cultivating 'Swarna Vasundhara' on a large scale and supplying the agro produce to Pune and other locations. Another cultivator, Emleen Kandulna, is also producing various value-added products from the crop," Pan said.

Dr Raushan Kumar, who is working as the agriculture advisor to cricketer M S Dhoni, said, "He has cultivated Swarna Vasundhara, a high-yielding improved soybean variety. One kg of seed was brought to the farm from ICAR, Plandu, for trial during this Kharif season. The crop matured in about 3-4 months and gave a very good yield. From next year, we will definitely cultivate it on a large scale. The taste of this soybean is better than the earlier varieties." He also added that 1 kg of Swarna Tripti seed was also cultivated on the farm.

Anil Mahto, a farmer from Nagri, also cultivated Swarna Vasundhara on 50 decimals of land.

He said, "I purchased 10 kg of seed for Rs 1,500 and my expenses were Rs 5,000 on ploughing, Rs 5,000 on bed preparation, Rs 6,500 on mulching, Rs 2,500 on manure and fertilisers, and Rs 20,000 on labour (80 people). In all, I invested around Rs 60,000. After selling the produce in the market, I earned Rs 1,50,000 and made a net profit of Rs 90,000." A farmer, Rupesh Pahan, from Ranchi district said, "This year, in May, I cultivated Swarna Vasundhara on 63 decimals (0.63 acre) of land. The seed quality is very good. I have been growing this variety for the last two years and earned a net profit of Rs 80,000. My total produce was around 15 quintals, and the current market price is approximately Rs 110 per kg." Another farmer, Bhola Oraon, of Thakurgaon in Ranchi district, said he is cultivating Swarna Vasundhara for the first time this year.

"The seed quality is excellent and the yield is much higher than previous varieties. I cultivated it on about 70 decimals of land. My total investment was around Rs 50,000, and I earned a net profit of Rs 1,50,000. Along with me, five other farmers in the village are also growing Swarna Vasundhara this year," he said.

The main objective behind developing this soybean variety was to address nutritional deficiencies across all age groups, Dr Pan said.

'Swarna Tripti' is a relatively new variety, and its tender pods can be eaten whole in salads, used in sandwiches or cooked with vegetables. It is rich in protein and minerals, he said.

"Both varieties have been tested and evaluated for their nutrient content. We are popularising them among farmers, and they are being accepted gradually as farmers realise their nutritional benefits and economic potential as cash crops," Dr Pan said.

The improved varieties are currently being supplied to Odisha's Sambalpur Krishi Vigyan Kendra and in northeastern states such as Arunachal Pradesh and Mizoram. PTI RPS BDC ACD

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