Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Oil prices rise sharply after attacks in Middle East disrupt global energy supply
    Oil prices rise sharply in market trading after attacks in Middle East disrupt global energy supply
    OPEC+ boosts oil production after attacks on Iran and throughout region
    Iran crisis: No immediate oil disruption for India; price volatility, macro impact seen
    HIGHLIGHTS
    Haryana records 22 pc growth in gross SGST collection in FY 2025-26, beats all states, UTs
    Andhra records highest GST collection in February at Rs 3,061 cr
    Rice exporters cautioned against CIF contracts to Iran, Gulf countries amid West Asia conflict
    GST collection grows 8.1 pc to over Rs 1.83 lakh cr in Feb
    Iran crisis: Rice exporters stare at shipment disruptions, payment delays
    GST mop-up grows 8.1 pc to over Rs 1.83 lakh cr in Feb
    Iran Crisis: No immediate oil disruption for India; Russia pivot possible if conflict drags on
    HC grants bail to ex-CMO official in 2 cases of Chhattisgarh liquor 'scam'
    Chhattisgarh liquor 'scam': HC grants bail to former CMO official Chaurasia in ED, EOW cases
    Maharashtra AI policy for agriculture laudable but implementation weak, says NCP (SP) leader
    Oil prices set for swings next week as US-Israel strikes raise supply uncertainty
    Middle East conflict: Exporters fear rise in logistics, insurance costs, impact on shipments
    Delhi Police arrests man for Rs 1.37 crore investment fraud in meat export business
    APEDA Organises Sikkim Organic Conclave-cum-International Buyer Seller Meet in Gangtok
    Andhra to open coastline for rare earth mining, eyes China import cut
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
March 2, 2026
Show AI Summary
Energy supply disruption threatens global oil flows, driving sharp price increases and straining fuel and goods markets worldwide.
Attacks and retaliatory strikes in the Middle East disrupted flows through the Strait of Hormuz and regional export infrastructure, triggering sharp crude price rises and heightened risk of sustained supply constraints; OPEC+ announced production increases, but analysts stress that constrained export routes limit the immediate effectiveness of added output.
March 2, 2026
Show AI Summary
Maritime chokepoint security threatened, risking oil export disruptions and limiting the relief from increased production.
Attacks and military strikes in the Middle East disrupted maritime traffic through the Strait of Hormuz, risking restrictions on regional crude exports and driving upward pressure on oil and gasoline prices. Because the strait is a critical global oil chokepoint, market concerns focus on whether barrels can physically move; consequently, OPEC+ announcements of increased production may provide limited immediate relief if export routes remain constrained.
March 2, 2026
Show AI Summary
Oil supply security: production increases meet limited relief when export routes through the Strait of Hormuz are disrupted.
OPEC+ announced an April increase in crude production intended to augment available supply while regional military attacks and disruptions to tanker movements - particularly through the Strait of Hormuz - threaten export routes. The notice underscores that interruptions to transit can limit the relief additional output provides and that access to export channels will be decisive for near-term market stability and price direction.
March 1, 2026
Show AI Summary
Energy security measures cushion supply shocks but elevate price volatility and macroeconomic pressures for oil importers.
Escalating tensions around Iran and the Strait of Hormuz create near-term energy security risks for India manifested chiefly as price volatility and macroeconomic pressure rather than immediate physical shortages. Layered inventory buffers - commercial stocks, in transit cargoes and Strategic Petroleum Reserves - combined with diversified sourcing options (including Atlantic suppliers and Russian optionality) reduce the likelihood of sustained supply disruption, though longer transit times and LNG contractual rigidity limit rapid substitution and increase vulnerability to prolonged closures.
March 1, 2026
Show AI Summary
GST revenue growth signals strengthened tax receipts driven by import collections and improved domestic sales affecting fiscal enforcement.
A court ordered continued judicial custody for eight alleged Lashkar-e-Taiba operatives accused of illegal entry and procuring forged identity documents while another court directed the immediate release of 14 student protesters arrested after a campus demonstration. Separately, gross Goods and Services Tax collections rose year-on-year, led by higher import receipts and improved domestic sales, reflecting stronger enforcement and compliance dynamics within the indirect tax regime.
March 1, 2026
Show AI Summary
SGST growth reflects strengthened tax administration and compliance following GST rate rationalisation, bolstering state revenues.
Haryana reports marked year on year expansion in State Goods and Services Tax (SGST) receipts for 2025-26, attributing the improvement to strengthened tax administration, enhanced compliance stemming from departmental reforms and better tax analysis, facilitation via district GST Suvidha Kendras, and the GST Council's September 2025 rate rationalisation as complementary drivers of revenue growth.
March 1, 2026
Show AI Summary
GST revenue growth maintained despite rate reductions; enhanced compliance and AI-driven analytics strengthened state collections effectively.
Andhra Pradesh achieves record net Goods and Services Tax receipts for February, with SGST and IGST growth offsetting marginal gross GST decline. Revenue momentum is supported by higher professional tax and petroleum VAT receipts. The state credits strengthened compliance-targeted audits, stricter return filing, coordinated IGST settlements, and performance based officer deployment-and advanced data analytics and AI oversight that detect evasion and reverse ineligible input tax credit claims for measurable recoveries.
March 1, 2026
Show AI Summary
Shipping risk allocation: exporters urged to avoid CIF and prefer FOB as geopolitical risks raise freight and insurance exposure.
Advises exporters to avoid new Cost, Insurance and Freight (CIF) commitments to Iran and Gulf destinations and to conclude sales on Free-On-Board (FOB) terms where feasible so freight, insurance and related risks rest with the buyer. Notes that West Asia instability may sharply increase bunker prices, disrupt vessel availability, raise freight and insurance premiums, and produce price volatility; urges restraint, avoidance of open-ended unhedged positions, and monitoring of consignments in transit or awaiting clearance.
March 1, 2026
Show AI Summary
GST rate restructuring boosts revenues as import and domestic consumption support post cut recovery in collections.
GST collections rose year on year following a statutory GST rate restructuring that reduced rates on numerous items and consolidated slabs; import revenue and domestic consumption supported recovery after an initial post cut dip. The pattern includes higher refunds, lower cess receipts, and divergent state level growth, raising considerations for revenue forecasting, state fiscal impacts, and the operational stability of the restructured indirect tax framework.
March 1, 2026
Show AI Summary
Export disruptions to Iran risk shipment halts and payment delays for rice exporters amid regional conflict.
Shipments to Iran and consignments to Afghanistan via Bandar Abbas have been held up following military strikes, causing immediate shipment disruptions and likely payment delays until the security situation improves; exporters warn the impact depends on conflict duration and note heightened commercial risk from lack of war-risk insurance for vessels.
March 1, 2026
Show AI Summary
Goods and Services Tax collections rose driven by import revenue growth, with higher refunds and lower cess receipts.
Gross collections under the Goods and Services Tax increased year on year, driven mainly by a stronger rise in import related GST receipts; domestic GST rose more modestly. Total refunds increased, and net GST receipts were higher year on year, while cess receipts declined markedly compared with the prior year period.
March 1, 2026
Show AI Summary
Energy supply resilience mitigates immediate oil disruption risk, though prolonged Hormuz closure heightens price and supply concerns.
India's layered inventory buffers - commercial stocks, in-transit crude and strategic petroleum reserves - and full refinery tanks reduce the likelihood of immediate physical disruption from a short-term Strait of Hormuz closure, shifting the principal near-term impact to price, freight and insurance volatility; prolonged closure would more severely affect LNG and LPG due to contract rigidity and transit dependence, prompting reliance on diversified sourcing, Russian optionality, longer transit planning and strategic reserve drawdowns.
March 1, 2026
Show AI Summary
Bail parity: Former CMO official released after court found investigation substantially complete and parity with other accused.
The court evaluated bail petitions in parallel Economic Offences Wing and Enforcement Directorate inquiries alleging a syndicate diverted liquor to government shops and laundered proceeds; it found the investigation substantially complete, trial unlikely to conclude soon, and that continued detention would not serve justice. Prosecution relied on asserted digital communications and co-accused statements alleging supervisory role and receipt/handling of proceeds; defence disputed incriminating material, reliance on statements, selective arrests and urged parity and repeated prior incarcerations. The court held evidentiary weight requires trial testing and noted parity with other released accused.
February 28, 2026
Show AI Summary
Bail parity principle applied where investigational delay and statement based evidence affect custodial necessity in money laundering cases.
High Court review of bail in concurrent EOW criminal and ED money laundering investigations centred on investigational stage, evidentiary weight of digital material and co accused statements, and parity with released principal accused. The court noted protracted investigation timelines, contested allegations about supervisory involvement and receipt of alleged proceeds, and held that inferential and statement based evidence must be evaluated at trial, making the stage of probe and likelihood of prolonged proceedings relevant to custodial decisions.
February 28, 2026
Show AI Summary
AI policy implementation: ensure agricultural AI delivers to farmers via infrastructure, governance and data protection.
Maharashtra's agricultural AI policy promises institutional development, digital public infrastructure, financial support and capacity building, but implementation is lagging: allocated funds remain unspent, innovation centres and leadership appointments are pending, and summit activities have not translated into grassroots adoption. Addressing the rural digital divide, establishing data protection safeguards, auditing the crop insurance scheme, stabilising price support and export policy, and creating a concrete roadmap with oversight are identified as necessary to ensure AI tools benefit ordinary farmers.
February 28, 2026
Show AI Summary
Oil supply disruption could trigger sharp global price swings as Middle East strikes raise market uncertainty and transit risks.
Oil supply uncertainty from recent strikes threatens significant market volatility: a contained campaign may cause a short-lived price spike if shipping and infrastructure remain intact, while broader disruption of pipelines, terminals or tanker traffic through the Strait of Hormuz would force buyers-particularly China-to seek alternative supplies, amplifying sustained upward pressure on global oil prices.
February 28, 2026
Show AI Summary
Supply chain disruption threatens longer routes and higher shipping and insurance costs for exporters in western markets.
Exporters expect logistical and insurance-cost disruptions from Middle East hostilities: altered air routes and uncertainty through the Red Sea and Gulf straits may force rerouting via the Cape of Good Hope, adding substantial transit time. Heightened geopolitical risk is likely to raise marine insurance premiums and container freight rates, increasing shipping costs; prolonged instability could also push up global energy-related input costs and exert currency pressure, prompting exporters to seek calibrated government support to sustain competitiveness.
February 28, 2026
Show AI Summary
Investment fraud: man arrested for allegedly inducing funds via a false export venture and issuing dishonoured cheques.
The accused is alleged to have induced investment by falsely portraying a large meat export venture, obtained funds through bank transfers and arranged foreign payments via associates, and issued cheques despite insufficient funds; he absconded after committing the offence, was later arrested, and investigations aim to trace co accused and recover the cheated amount.
February 28, 2026
Show AI Summary
Organic export compliance reinforced to boost traceability and market access following Sikkim supply chain and export readiness roadmap.
APEDA organised an Organic Conclave in Sikkim and released a Knowledge Report proposing a roadmap of infrastructure upgrades, streamlined processes, aggregation, price discovery and strategic positioning to improve export competitiveness while ensuring sustainability and traceability. The event included international buyer engagement and a technical session on the 8th Edition of the NPOP to raise compliance awareness among exporters, FPOs and certification bodies, and featured field visits to certified production clusters to strengthen farm to market linkages and buyer confidence in export readiness.
February 28, 2026
Show AI Summary
Critical mineral security: Andhra Pradesh opens coastline to build a domestic rare earth and titanium value chain.
Andhra Pradesh seeks to open its coastline to large-scale beach sand mining to build an integrated domestic value chain for titanium minerals and rare earths. APMDC has identified and secured approvals for multiple ilmenite, rutile, zircon and monazite deposits and plans extraction, separation, refining and downstream manufacturing near ports and industrial corridors to reduce import dependence and supply-chain vulnerability.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters
Customs & Trade

No need for panic booking, enough LPG supplies to meet household needs: Govt

March 11, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

New Delhi, Mar 11 (PTI) Amid panic buying in some parts of the country, the government on Wednesday said India has enough LPG stocks to fully meet household cooking gas requirements, even as it stepped up efforts to secure alternative supplies to replace volumes disrupted by the West Asia conflict.

While India has been able to source additional crude oil - the raw material for fuels such as petrol and diesel - from alternative suppliers to offset disruptions caused by the blockage of the Strait of Hormuz, refinery adjustments have lifted domestic LPG output by about 25 per cent. The push to secure supplies has also resulted in securing at least two LNG cargoes, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said.

The widening conflict in the Middle East has largely halted shipments through the strait that was the conduit for most of India's oil, gas and LPG needs. While India scrambles to seek alternative crude sources from countries like Russia, LPG and LNG supplies remain constrained. Shortages are affecting businesses nationwide, from restaurants and crematoriums to ceramic units and even the Delhi High Court canteen. Household kitchens are getting fuel, but there are reports of long queues at dealers and the fuel being sold at higher rates in the black market.

At a media briefing - the first on record by an oil ministry official since the conflict broke out on February 28 - Sharma sought to allay concerns on availability, saying the government's efforts are primarily directed at maintaining uninterrupted supplies to households.

Sharma said India imports about 60 per cent of its LPG requirement, and 90 per cent of this is through the Strait of Hormuz.

This shortfall meant prioritising household kitchens over commercial usage. But even this has led to panic buying by common users.

"Feedback suggests that some panic booking and hoarding behaviour has been triggered by misinformation," she said. "We have enough stocks. There is no need for panic. There is no need for the customer to rush and book cylinders." The pre-war delivery cycle for a refill of two-and-a-half days remains, said Sharma, who is in charge of LPG in the ministry.

Giving a full account of the fuel supply scenario, she said India's daily crude oil consumption is about 5.5 million barrels, 55 per cent of which came from countries like Saudi Arabia, Iraq and the UAE through the Strait of Hormuz.

She said oil companies have diversified procurement and secured volumes larger than those that were displaced by the blockage of the strait after the US and Israel attacked Iran and Tehran's retaliatory action.

"As a result of this diversification, about 70 per cent of our crude imports are now coming from routes outside the Strait of Hormuz, compared with about 55 per cent earlier," she said.

All the oil refineries, which convert crude oil into fuels, are operating at full capacity.

On natural gas, which is used for power, fertilizers, CNG, and household cooking, she said that out of the total consumption of 189 million standard cubic meters per day, 97.5 mmscmd is produced within the country, and the rest is imported. Out of the imports, about 47.4 mmscmd supply has been affected due to the Strait of Hormuz disruption.

"We are making efforts to procure from alternate routes, and supplies are underway to offset this disruption," she said. "Gas companies have procured LNG cargoes from the new sources, and two LNG cargoes are on their way to the country." To manage the shortfall, the government has prioritised household cooking and transport fuels, directing refineries to maximise LPG output by cutting petrochemical feedstock streams and barring units, including Reliance Industries Ltd's export-oriented plants, from using LPG as feedstock. Industrial LNG and LPG deliveries have been curtailed to protect more than 33 crore households, which account for roughly 86 per cent of LPG consumption.

To manage demand, cooking gas prices were raised for the first time in 11 months, and the minimum interval between subsidised refills was extended from 21 to 25 days.

To deal with the shortfall arising from blockage of supplies through the Strait of Hormuz, she said the government has taken various steps, including maximising LPG production in refineries by cutting other fuel streams. "Domestic LPG production has increased by 25 per cent, and all these domestic LPG is being directed towards household consumers." For non-domestic LPG, priority is being given to essential sectors such as hospitals and educational institutions, she said, adding that a three-member committee of executive directors of oil marketing companies - IOCL, HPCL and BPCL - has been constituted to review the allocation to restaurants, hotels and other commercial users.

The committee is consulting with state authorities and industry bodies to finalise a plan to ensure that available LPG is distributed in a fair and transparent manner on LPG prices, she added.

State governments have been advised to crack down on hoarding and black marketing of LPG.

Union Home Secretary held a meeting with Chief Secretaries and Directors General of Police of all states and Union Territories.

States and Union Territories were advised to take strict measures against hoarding of essential commodities and ensure the uninterrupted availability of essential supplies. The government, the officials said, is closely monitoring the evolving situation in West Asia and maintaining continuous coordination among the concerned ministries and agencies.

They reiterated that necessary steps are being taken to ensure energy security, safeguard Indian nationals in the region, maintain the safety of maritime operations and ensure the uninterrupted availability of essential supplies. The government remains committed to keeping the public informed and taking timely measures to protect India's interests during the evolving situation.

India, the world's third-largest crude importer, sources 88 per cent of its oil needs from abroad. It consumes 5.8 million barrels per day, of which 2.5-2.7 million barrels come from Middle East countries like Saudi Arabia, Iraq, and the UAE via the Strait of Hormuz. The chokepoint also carried 55 per cent of India's cooking gas (LPG) and 30 per cent of liquefied natural gas (LNG), used for power, fertilizers, CNG, and household cooking. PTI ANZ HVA

Topics

Acts Income Tax