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    Attention : Update on Advisory on Interest Collection and Related Enhancements in GSTR-3B
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February 20, 2026
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Interest computation in GSTR-3B updated; portal auto-populates minimum interest and permits CGST/SGST ITC for IGST liabilities.
From January-2026 the portal revises interest computation in GSTR-3B table 5.1 to deduct the minimum cash balance in the Electronic Cash Ledger from net tax liability for interest calculation; the computed interest is auto-populated as a non-editable minimum and taxpayers must self-assess upward if necessary. The portal will auto-populate the Tax Liability Breakup from GSTR-1/GSTR-1A/IFF document dates for prior-period supplies discharged in the current period, and once IGST ITC is exhausted allows use of CGST and SGST ITC in any sequence in Table 6.1. Interest on late final returns for cancelled taxpayers will be collected via GSTR-10.
February 19, 2026
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Fraud in anticipation of winding-up: director diverted company funds after loss of control, now facing criminal and confiscation proceedings.
A director was convicted of fraud in anticipation of winding-up after transferring the company's bank funds to his personal account following appointment of a Law of Property Act receiver and the transfer of the company's assets and sole share to that Receiver. The jury rejected his claimed belief in entitlement to the funds. The Insolvency Service is pursuing confiscation under proceeds legislation, and the director remains disqualified with an indefinite suspension of bankruptcy discharge for noncooperation with the Official Receiver.
February 19, 2026
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Trade agreement obligations require tariff cuts, import and defence commitments, triggering transparency and sovereignty concerns.
The bilateral package imposes binding commercial and defence commitments requiring tariff reductions, duty-free access for specified exports, mandated imports of US agricultural and energy commodities, and increased purchases of US military hardware while limiting procurement from certain other countries. The deals were negotiated under a Non-Disclosure Agreement, and commentators question whether an unelected interim government had authority to conclude secretive, long-term obligations without parliamentary oversight, raising transparency, fiscal stability, and sovereignty concerns.
February 19, 2026
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Liquidation of cooperative bank initiated; depositors' claims to be settled under statutory priority after KYC verification and phased settlement.
Liquidation proceedings for SCARD Bank Ltd have been initiated under the Cooperative Societies Act due to accumulated losses, weak governance, poor loan recovery and liquidity pressures; the bank is not registered under the Banking Regulation Act and thus lies outside RBI purview. A comprehensive KYC verification of claims is complete and, following a winding-up order and appointment of liquidators, duly verified depositor claims will be settled in phased manner strictly pursuant to statutory provisions and the prescribed order of priority. Deposit insurance and credit guarantee mechanisms do not apply; the government has compiled depositor liability projections and may consider budgetary provisioning.
February 19, 2026
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EEZ access pass allows regulated offshore fishing with traceability and sustainability safeguards to support seafood export competitiveness.
An access pass framework regulates organised fishing in India's Exclusive Economic Zone, establishing entry conditions, monitoring, compliance, and traceability standards under the Sustainable Harnessing of Fisheries in the EEZ Rules, 2025, to enable responsible offshore harvesting, empower fishing communities and support seafood export competitiveness.
February 19, 2026
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Public debt increase signals higher state debt servicing obligations under revised estimates and disclosed budget figures.
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February 19, 2026
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Tariffs on imports reshape trade incentives and pricing, prompting import timing and affecting customs revenues and consumer prices.
Presidentially imposed tariffs function as a tax on US importers often passed to consumers, shift commercial incentives by prompting import timing to avoid higher duties, and can be used to protect domestic industry and raise Treasury revenue; these effects influence trade flows, customs liabilities, and have produced only a muted aggregate inflationary impact while contributing to observed annual changes in the goods-and-services trade gap.
February 19, 2026
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February 19, 2026
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February 19, 2026
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Sovereignty concerns over trade pact: alleged compromise of farmers, regulatory protections and energy procurement autonomy.
The proposed India-US framework is alleged to compromise sovereignty and economic self reliance by opening India's agricultural market to zero duty US farm and food products, permitting duty free imports of specified processed grains, oils and cotton that threaten domestic producers, and by requiring removal of non tariff barriers which could erode subsidies, regulatory protections and seed biodiversity; it is also said to constrain energy security by limiting procurement autonomy and imposing large bilateral purchase commitments.
February 19, 2026
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Equity investment creates a minority ownership stake and strategic partnership, with regulatory and privacy forward looking disclosures.
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February 19, 2026
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Cross-border trade facilitation: rivexa advances digital export pathways and sustainability for Indian MSME global market access.
rivexa hosted rivOlution 2026 to advance digital facilitation of cross-border trade and broaden MSME market access by offering an integrated export platform-supplier discovery, quality assurance, production monitoring, and payment/finance solutions-to enhance visibility, credibility, and execution across export supply chains while promoting sustainability and ESG-aligned compliance.
February 19, 2026
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EMI financing enables consumers to acquire branded air conditioners through flexible tenures and zero down payment options.
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February 19, 2026
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Re-enacted Boilers Act strengthens safety framework; stakeholders invited to streamline compliance and boost industry innovation.
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February 19, 2026
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Salary account package expands banking, insurance and card benefits to central government employees through PSB facilitation camps.
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February 19, 2026
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February 19, 2026
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February 19, 2026
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Cross-border trade facilitation expands as Yiwu strengthens digital trade infrastructure and foreign business integration.
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February 19, 2026
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PMLA summons prompt fresh ED questioning over alleged money trail and disputed property sale.
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February 19, 2026
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State GST eligibility and transport subsidy shaping a local tea auction centre to retain value and improve price realisation.
Establishment of a local tea auction centre at Gurkhabasti aims to internalise tea transactions, improve price realisation for Tripura producers, and reduce time and transport costs. The Tripura Tea Development Corporation will provide a transport subsidy from its own resources to enhance viability. Converting outbound auctioning into in-state auctions is expected to affect State GST eligibility and receipts, thereby altering the fiscal profile of tea transactions and retaining value within the state supply chain.

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Oppn submits notice against speaker, accuses Birla of acting in 'blatantly partisan manner'

February 10, 2026

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New Delhi, Feb 10 (PTI) Opposition parties on Tuesday submitted a notice for moving a resolution to remove Om Birla as Lok Sabha Speaker, alleging that he had acted in a "blatantly partisan" manner in conducting the business of the House and "abused" the constitutional office he occupies.

The opposition also accused the speaker of making certain false allegations against the Congress members when he spoke of some "unexpected action" in the Lok Sabha and asked Prime Minister Narendra Modi not to come to the House.

Congress' deputy leader in the Lok Sabha Gaurav Gogoi, chief whip K Suresh and whip Mohamed Jawed submitted the notice under Article 94 C of the Constitution to Lok Sabha Secretary General Utpal Kumar Singh on behalf of several opposition parties, including the Congress, Samajwadi Party and the DMK.

Sources said the notice was signed by around 120 MPs of the opposition, including those of the Congress, DMK, Samajwadi Party, Left parties and the RJD. Shiv Sena UBT and NCP-SP have also extended their support to the notice against the speaker but their MPs could not sign it.

West Bengal Chief Minister Mamata Banerjee-led Trinamool Congress (TMC) is not a signatory to the notice. Leader of Opposition in Lok Sabha Rahul Gandhi has also not signed the notice, the sources said.

The notice was submitted soon after 1 pm, after the opposition members held a last meeting with Parliamentary Affairs Minister Kiren Rijiju but their issues remained unresolved.

Later in the day, the opposition withdrew the notice submitted in the afternoon and replaced it with another one correcting the date.

"We, the undersigned, hereby give notice of a resolution for the removal of Shri Om Birla from the office of Speaker Lok Sabha, in terms of the provisions of Article 94(c) of the Constitution of India, because of the blatantly partisan manner in which he has been conducting the business of the Lok Sabha," the notice said, according to sources.

On several occasions, leaders of opposition parties have just not been allowed to speak, which is their basic democratic right in Parliament, the notice said.

The notice said on February 2, Rahul Gandhi was not allowed to complete his speech on the Motion of Thanks to the President's Address. This is not an isolated instance. The leader of the opposition in the Lok Sabha is almost invariably not allowed to speak, it claimed.

On February 3, eight opposition MPs were "arbitrarily suspended" for the entire Budget session and are being penalised merely for exercising their democratic rights, the notice said.

On February 4, a BJP MP was permitted to make "wholly objectionable and personalised attacks" on two former prime ministers without being reprimanded even once for disregarding established conventions and norms of propriety, it said, in an apparent reference to Nishikant Dubey's remarks.

"In spite of our request, no action has been taken against this particular MP, who is a habitual offender," they said.

The notice also referred to Birla's remarks that he had "concrete information" that many Congress members might move towards Prime Minister Modi's seat and carry out "some unexpected act" as a result of which he had requested him not to come to the House to reply to the discussion on the Motion of Thanks on the President's Address.

"The aforementioned remarks cast blatantly false allegations against the members of the Indian National Congress and are derogatory in nature. The speaker, who is required to be the custodian of the Rules of Procedure and the norms of parliamentary decorum, chose the floor of the House to make such statements, which is indicative of an abuse of this constitutional office," the notice said.

"While we hold the Speaker, Lok Sabha, in personal regard, we are pained and anguished at the manner in which he has consistently prevented opposition members of Parliament from raising issues of legitimate public concern," the notice also said.

"That this House... feels he has ceased to maintain an impartial attitude necessary to command the confidence of all sections of the House; that in his partisan attitude he disregards the rights of Members of the House and makes pronouncements and gives rulings calculated to affect and undermine such rights; that he openly espouses the version of the ruling party on all controversial matters, that all these acts constitute a serious danger to the proper functioning of this House and ventilating effectively the felt concerns and grievances of the people, and therefore resolves that he be removed from his Office," said the resolution that the Opposition seeks to move.

The decision to submit the notice was taken by the opposition at a meeting of floor leaders in the office of Congress president and Leader of Opposition in the Rajya Sabha Mallikarjun Kharge in the morning.

Among the main reasons cited by the Congress include disallowing Rahul Gandhi and other opposition leaders from speaking in the House on the Motion of Thanks to the President's Address and the suspension of eight MPs.

Birla directed the Lok Sabha secretary general to examine the notice served by the opposition and take appropriate action, the sources said, adding it will be examined and processed according to the rules.

Citing moral grounds, Birla will not preside over Lok Sabha proceedings till the issue regarding his removal from the office is settled.

The Lok Sabha has not been functioning properly ever since Gandhi was not allowed to speak on February 2. PTI SKC/ASK DV SKC KSS KSS

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