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    India-US tariffs after Supreme Court verdict: An explainer
    Directorate General of Commercial Intelligence and Statistics Revises Base Year of Merchandise Trade Indices to FY 2022–23 to Reflect Current Trade ...
    MoSPI to Convene National Level Consultative Workshop on "Using Administrative Data for Governance: Harmonizing Departmental Data at State Level" on 2...
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February 21, 2026
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Reciprocal tariffs transformed into temporary import surcharge, altering tariff exposure and prompting reassessment of bilateral trade concessions.
The US proclamation replaces varied reciprocal tariffs with a uniform temporary import surcharge of 10 per cent ad valorem applied in addition to MFN duties on goods previously covered under reciprocal tariffs. Indian exports will therefore bear MFN duties plus the temporary surcharge rather than the earlier country specific reciprocal or punitive levies; certain sectoral tariffs remain in force and specified categories of goods are exempted from the temporary surcharge. The change is contemporaneous with negotiations on an initial bilateral trade agreement, prompting a reevaluation of tariff concessions.
February 21, 2026
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Merchandise trade indices base year revision updates weights, classifications and methodology to reflect current trade structure and improve comparability.
DGCI&S has revised the merchandise trade indices to base FY 2022-23 to reflect current trade composition, updating commodity baskets and month-specific weights based on base-year trade values. The revised series incorporates monthly, quarterly and annual Export/Import Unit Value and Quantity Indices, Principal Commodity, SITC and BEC classifications, bilateral and region-wise indices for top partners, and Gross, Net and Income Terms of Trade. Methodological refinements cover common commodity-basket selection, imputation of missing unit values and Laspeyres-type weighted averaging; comparability is meaningful mainly for same-month comparisons across years. Detailed methods and data will be published by DGCI&S.
February 21, 2026
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Administrative data harmonization to inform a national agenda and prepare states for coordinated governance reforms.
The Ministry of Statistics and Programme Implementation is convening a national consultative workshop on using administrative data for governance to brief States/UTs, Central ministries and other stakeholders on objectives, scope and key issues, as a preparatory step for a national summit. The workshop will gather expert deliberations, showcase use cases, and collate inputs from State level workshops to identify priority reform areas for strengthening administrative data systems and enabling responsible harmonization across departments.
February 21, 2026
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Presidential tariff authority reversed, trade deal's tariff basis challenged; India-US agreement's viability questioned, prompting political backlash domestically.
Following a judicial curtailment of presidential power to impose global tariffs under emergency authority, the US administration invoked an alternative statute to impose a temporary import surcharge to preserve an existing India-US interim trade framework; this shift alters the tariff basis of the deal and raises questions about the surcharge's applicability to India and the deal's implications for market access, subsidy withdrawal, agricultural protections, energy security, and data safeguards.
February 21, 2026
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Presidential tariff authority limited by court; administration seeks alternative statutory paths to maintain import duties, prolonging business uncertainty.
The Supreme Court ruled the president lacked authority under the emergency-powers framework to impose import tariffs, voiding tariffs imposed on that basis while leaving open the administration's use of other statutory authorities to impose duties; the decision narrows one executive route for tariffs but creates complex refund and recovery issues and leaves many existing tariffs under different authorities intact.
February 21, 2026
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Separation of powers affirmed: Presidential global tariffs invalidated, reaffirming that only Congress may impose taxes.
A Supreme Court decision concluded that broad presidential global tariffs exceeded executive authority by encroaching on Congress's exclusive power over taxation; counsel for small businesses argued the levies operated as taxes imposed without congressional authorization, framing the dispute as a structural separation of powers issue and reaffirming that only Congress can impose taxes.
February 21, 2026
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Invalidation of emergency tariff authority leaves collected import duties subject to refund and protracted litigation.
The Supreme Court held the International Emergency Economic Powers Act did not authorize presidential tariffs, leaving collected import duties unlawful but not prescribing a refund mechanism. Administration of refunds will likely involve the customs agency, specialised trade tribunals and lower courts, utilising or adapting existing duty correction procedures, and is expected to produce prolonged, multi jurisdictional litigation as importers seek recovery while consumers face evidentiary obstacles to claiming pass through losses.
February 21, 2026
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KYC/KYB compliance automation expands: AI platform streamlines MSME due diligence, risk screening and faster onboarding for lenders.
An AI-powered KYC/KYB platform automates entity and individual due diligence and compliance for the BFSI sector, centralising MSME discovery and risk evaluation via a large multi-source data lake. It supports onboarding, underwriting, GTM optimisation and credit decisioning by converting fragmented business information into actionable intelligence. The system enables scaled lead generation, automated due diligence, and extensive sanction and litigation screening to bolster anti-money laundering controls, and provides a Model Context Protocol allowing configurable AI agents and custom model integration to align with institutional policies.
February 21, 2026
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Temporary import surcharge lowers reciprocal US tariff on Indian goods following legal limitation on presidential tariff powers
A presidential proclamation imposes a temporary import surcharge of ten per cent ad valorem, effective February 24, 2026, applied in addition to existing Most Favoured Nation duties; this replaces prior broader reciprocal levies on Indian goods, while higher sectoral tariffs for specified products remain and the surcharge applies only to a portion of exports due to coverage exemptions.
February 21, 2026
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Policy repo rate unchanged; MPC retains neutral stance as inflation stays benign while growth outlook strengthens.
Under Section 45ZL the MPC's minutes record a unanimous decision to keep the policy repo rate unchanged and to retain the neutral stance after reviewing staff projections, surveys and alternative risk scenarios. The committee judged growth prospects to have strengthened while headline inflation remains benign though modestly revised upward for near quarters due mainly to precious metals; risks to the outlook are broadly balanced and policy will be guided by incoming data and the progress of transmission.
February 21, 2026
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Constitutional limits on presidential tariff power overturned global tariffs, reshaping the interim India-US trade deal consequences.
The US Supreme Court invalidated the President's global tariffs imposed under emergency powers, finding tariff authority lies with Congress; the decision undercuts executive unilateral tariff measures. The India-US interim agreement saw an Executive Order lifting prior punitive tariffs in return for India's energy purchasing commitments, and a reduced reciprocal tariff rate was agreed. Indian political opposition alleges the deal's timing reflected executive haste that risked sovereign bargaining leverage and domestic agricultural interests.
February 21, 2026
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Presidential tariff authority curtailed; temporary global import duty imposed to rebalance trade while India trade framework remains intact.
The Supreme Court held that the President exceeded authority in imposing sweeping tariffs; in response the President signed a Proclamation imposing a temporary import duty to address international payments problems and rebalance trade relationships, effective on a specified date for a limited period. The President stated that an interim trade framework with India remains in place, removing certain punitive tariffs on India under an Executive Order while asserting India will assume tariff obligations under the bilateral arrangement.
February 21, 2026
Show AI Summary
Emergency powers tariffs invalidation prompts presidential denunciation of justices and raises separation of powers and institutional independence debate.
Six justices invalidated presidential global tariffs imposed under an asserted emergency powers statute, framing the central legal question as the permissible scope of executive authority to impose trade restrictions without clear congressional authorization, and the litigation tested statutory delegation, administrative action in the trade context, and judicial review of national-security framed economic measures.
February 21, 2026
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Emergency power limits prompt alternative executive tariff action, raising concerns about agriculture costs and trade uncertainty.
The Supreme Court invalidated a presidential tariff framework as an unlawful exercise of emergency power, leading the president to announce use of alternative executive authority to impose a temporary global tariff. Stakeholders warned that further tariff actions or use of other authorities would increase agricultural input costs and create trade uncertainty, while business groups said ties with trade partners remain intact despite the disruption.
February 21, 2026
Show AI Summary
Presidential emergency powers curtailed as court invalidates broad tariffs imposed under IEEPA, overturning central global levies.
The Supreme Court found the President exceeded authority under the International Emergency Economic Powers Act by using IEEPA to impose broad tariffs, invalidating core IEEPA-based measures including the Liberation Day global tariff framework and subsequent trafficking and country-specific levies on Canada, Mexico, China, Brazil and India; sectoral and non-IEEPA tariffs remain in place while the executive considers alternative measures.
February 21, 2026
Show AI Summary
Executive emergency tariff authority limited, prompting administration to pursue alternative statutory bases for imposing tariffs.
The Supreme Court concluded that the Constitution vests the taxing power in Congress and that the emergency statute invoked by the Executive does not authorize imposition of tariffs as revenue measures, constraining executive emergency tariff authority; the administration plans to rely on alternative statutory bases to replace the invalidated tariffs.
February 21, 2026
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Tariff policy remains central as the India trade arrangement continues despite judicial limits on tariff authority.
President Trump stated the bilateral trade arrangement with India remains in effect after the Supreme Court invalidated his broad tariffs, noting an Executive Order rescinded punitive tariffs on Indian oil imports from Russia and an Interim Agreement framework reduces reciprocal U.S. tariff treatment toward India while maintaining tariffs on Indian imports under the new terms; he framed tariffs as leverage for energy-sourcing commitments and de-escalation between India and Pakistan.
February 21, 2026
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IEEPA authority rejected, limiting tariff powers while administration decries the decision and cites geopolitical effects.
The Supreme Court held that the International Emergency Economic Powers Act does not authorize imposition of duties, constraining executive authority to impose tariffs under national emergencies; the President criticized the ruling and reiterated that tariffs were used as a foreign policy tool to end hostilities between India and Pakistan, a claim denied by India which attributes cessation to direct military talks.
February 21, 2026
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Global tariff authority challenged after court invalidated emergency-use tariffs; president plans executive-order, time-limited alternative.
A judicial body invalidated a broad presidential program of global tariffs as an unlawful exercise of emergency power, eliminating the administration's primary emergency-based mechanism for imposing unilateral worldwide duties. The president announced intent to use an alternative statutory authority via executive order that would impose time-limited tariffs restricted to 150 days, signaling a shift to a different administrative vehicle for trade measures.
February 21, 2026
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Emergency powers invalidation limits executive authority to impose unilateral tariffs, nullifying sweeping reciprocal import duties.
The executive's imposition of sweeping "reciprocal" import duties under a claimed emergency powers statute was found unlawful; the tariffs were invalidated because setting import duties required clear congressional authorization rather than unilateral emergency proclamations, signaling a legal limit on executive authority to alter statutory tariff schemes by emergency declaration.

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Customs & Trade

Strategic trade mission capitalises on UK-India Free Trade Agreement opportunity

March 11, 2026

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• Mayoral-led mission to India strengthens economic and cultural partnerships during the year of the Free Trade Agreement in order to deliver impact for the West Midlands. • New civic, academic and innovation partnerships secured across Ahmedabad, Mumbai and Bengaluru to boost bilateral collaboration, trade and tourism BIRMINGHAM, England, March 10, 2026 /PRNewswire/ -- A strategic trade mission to the UK's West Midlands region has strengthened economic and cultural ties with India's subregions, building on the recent signing of the landmark UK-India Free Trade Agreement. Led by West Midlands Mayor, Richard Parker between 22nd and 27th February and representing the first outbound mission from the UK in 2026, the delegation of business, political and academic leaders visited Ahmedabad, Mumbai and Bengaluru. With the aim of reinforcing the long-established, trusted partnership between the West Midlands and India, the mission set out to deliver real impact for the West Midlands, strengthening economic and cultural links and boosting collaboration for the benefit of the region's businesses, people and academic institutions. The mission was organised by the West Midlands Growth Company (WMGC), with support from the India Global Forum and Greater Birmingham Chambers of Commerce. The delegation included Dr Julie Nugent, CEO at Coventry City Council, Prof. David Mba, Vice-Chancellor at Birmingham City University and Greg Clark, Executive Chair of University of Warwick Innovation District. Official trade mission partners included Aston University, Birmingham City University (BCU), energy provider E.ON, GEDU Global Education, University of Birmingham and University of Warwick. The delegation was also made up of a number of high-potential West Midlands businesses, led by the Greater Birmingham Chambers of Commerce, interested in exploring trade opportunities in India. These included Goldilock; School of Coding Limited; World Wide Generation Limited; Agilyx EMEA Ltd; Econominds; CyberQ Group and Cybercy Group. Throughout the week, the West Midlands delegation attended a series of meetings with senior figures from leading Indian manufacturing companies, with discussion centred around their shared commitment to the future of engineering innovation. This included clean energy company Atri Energy Transition and motorcycle manufacturer and major investor into the West Midlands, TVS Motor Company. Mayor Richard Parker also met with Natarajan Chandrasekaran, Chair of Tata Group – the region's biggest source of foreign direct investment (FDI) – to discuss how to accelerate collaboration across technology, energy, steel and communications between the two markets. This momentum was reflected through the announcement of a new alliance between the University of Warwick and Tata Power, focused on energy storage and industrial decarbonisation. Marking an important step toward strengthening long-term research capability, talent development, and global academic engagement aligned with Tata Power's strategic priorities, the collaboration highlights the importance of West Midlands-borne research expertise to Indian industry partners. During the mission, Aston University also entered into new partnerships with Indian academic institutions the All India Management Association and Xavier School of Management, creating new pathways for skills and talent. In line with the mission's focus on opening pathways around digital innovation and AI collaboration, the delegation visited some of India's most significant industry hubs. These included the Confederation of Indian Industry (CII) - which hosted an interactive industry session focused on unlocking cross-border growth and scaling innovation following the UK-India FTA – the offices of multinational technology company and West Midlands investor Infosys and Tata Consultancy Services. The delegation also visited Gujarat-based GIFT City – India's globally connected financial centre – with the region is now taking forward plans for a joint taskforce with the State of Gujarat, with the ambition of establishing a formal partnership for growth across shared priority sectors. In support of the region's ambition to grow its creative industries, the delegation visited the iconic Yash Raj Films to discuss how to build partnerships between Mumbai and the West Midlands, focused on attracting productions and opening up new opportunities for the region's studios, freelancers and young creatives. Throughout the mission, the West Midlands delegation hosted activity to promote cultural exchange and building strong foundations for future partnership with India. This included an event on "The Commonwealth Legacy", to share lessons from hosting the Birmingham 2022 Commonwealth Games, ahead of Ahmedabad hosting the major sporting event in 2030. The mission also successfully profiled the West Midlands across Ahmedabad, Mumbai and Bengaluru – engaging 30 tour operators through targeted roundtables, alongside five hosted meetings to focus on educational product development, route development and forward planning. Organised in collaboration with VisitBritain, this activity also focused on commemorating the top travel agents for driving inbound tourism from India into the region, with the number of visits from Indian tourists to the region having grown by more than 20 per cent over the last decade. India and the West Midlands have strong economic links, with India representing the UK's second largest source of investment projects for six consecutive years and the West Midlands representing the UK's largest recipient of FDI projects from India outside London. These strong economic ties are supported by organisations including the CII, Federation of Indian Chambers of Commerce & Industry (FICCI) and the National Association of Software and Service Companies (NASSCOM), with plans in place to host the NASSCOM UK Forum in Birmingham in the near future, following the trade mission. Richard Parker, Mayor of the West Midlands, said: "This mission was about turning the UK-India Free Trade Agreement into real opportunities for the West Midlands. "In just one week we strengthened relationships with some of India's biggest employers and fastest growing industries. We opened the door to new partnerships in clean energy, technology, education and the creative industries - sectors that will create jobs, investment and opportunity for people across our region. "The West Midlands already has one of the strongest relationships with India anywhere in the UK outside London. My job is to build on that foundation and turn it into practical results for our businesses, universities and communities. "We've come back with a strong pipeline of partnerships and projects. The next step is simple - turn those conversations into investment, collaboration and growth here in the West Midlands." Harjinder Kang, His Majesty's Trade Commissioner to South Asia & Deputy High Commissioner to Western India, said: "We were delighted to welcome the West Midlands Mayoral-led trade delegation to India. As a result of the UK-India FTA, we have witnessed a great deal of interest amongst Indian businesses to deepen their collaboration with this key UK region. Beyond business ties, a number of exciting new partnerships spanning research, energy, skills, and talent were also announced - reflecting the strength of the region and our bilateral relationship. The success of this mission, underpinned by growth across both countries, is inspiring to see." Further commentary from the delegation: Professor Gurpreet Singh Jagpal OBE, Chief Commercial Officer at Aston University, said: "Aston University was proud to sponsor the mission to focus on strengthening economic and cultural ties between the West Midlands and India. We explored new education and business partnership opportunities to help boost investment and deepen UK–India collaboration. "While there we were delighted to sign agreements with two Indian higher education institutions. XLRI has a reputation for producing employer-ready graduates which makes it a strong platform for promoting West Midlands-India engagement in skills, talent, and business ties, and AIMA is a national management body with wide reach across corporate and institutional leaders. These agreements will help foster education, research and business engagement initiatives with the West Midlands. The mission also gave us the opportunity to contribute to several round table panels and host some of our esteemed Indian alumni at networking events." Professor David Mba, Vice-Chancellor at Birmingham City University, said: "The Mayoral Trade Mission was a powerful opportunity to deepen Birmingham's partnership with counterparts across India. "From Commonwealth Games collaboration to visits to world-leading cultural and technology hubs, I return with new relationships secured and clear ambition for how BCU can work more closely with the institutions we met. We are ready to turn dialogue into delivery and ambition into lasting impact." Vijay Tank, Chief Commercial Officer at E.ON Energy Infrastructure Solutions, said: "The free trade agreement between India and the UK opens up major opportunities for new investment and deeper partnerships between our two countries. Both nations share a commitment to an energy transition that boosts business competitiveness while driving cleaner and more secure energy – an ideal foundation for long–term collaboration. "It was a privilege to join the Mayor in meeting political and industry leaders in Ahmedabad, Mumbai and Bengaluru. Those conversations reinforced that the opportunities ahead of us are real and significant. With a shared sense of purpose we have a genuine chance to build scalable, sustainable solutions that will benefit our people, businesses and communities." Kevin McCole, Managing Director at GEDU Global Education, said: "The week in India was really enjoyable and successful for the West Midlands and the delegates. There was a positive response from the political and business leaders in all three cities, and a genuine commitment to deepening the trade, investment and cultural ties." Professor Mark Lee, Deputy Pro-Vice-Chancellor at the University of Birmingham, said: "The West Midlands mission to India has been a powerful opportunity to deepen the partnerships that connect Birmingham with one of our most important global collaborators. Through initiatives such as our joint postgraduate programmes with IIT Madras and our new Future Skills scholarships for Indian students, the University of Birmingham is committed to creating opportunities that strengthen talent pipelines, support sustainable growth, and bring our region closer to India." Greg Clark, Executive Chair of Warwick Innovation District, said: "The University of Warwick has extensive and long-standing connections with India through our students, alumni, research collaborations and industrial and innovation Partnerships. The dynamism and confidence of the Indian economy and the UK-India free trade agreement present further opportunities for the West Midlands and India to deepen our relationships. "The University of Warwick's new strategic alliance with Tata Power, announced during the visit, is a clear example of how world-class research and education can work with Indian businesses to make for a better and more prosperous world together. The West Midlands delegation advanced those connections at a time of momentum in the UK-India relationship." West Midlands Growth Company The West Midlands Growth Company focuses on the WMCA geography of Greater Birmingham and Solihull, Coventry and Warwickshire, and the Black Country.Once the powerhouse of the industrial revolution, the West Midlands has evolved into a world-class and highly sought-after international business destination, with an economy worth £117bn. Situated at the heart of the UK, the region is home to three major cities (Birmingham, Coventry, Wolverhampton) and four thriving boroughs, which come together to form one of Europe's most dynamic and diverse metropolitan clusters. Photo - https://mma.prnewswire.com/media/2930557/West_Midlands_Growth_Company.jpg' alt='Embedded Media' /> Logo - https://mma.prnewswire.com/media/2702236/5856235/WMGC_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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