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    Seeking stakeholders' input on the proposed Income-tax Rules and related Forms relating to the Income Tax Act, 2025
    Income tax Department carries out nation-wide verification exercise on Restaurants suppressing turnover
    Governments of India and France sign the Amending Protocol to amend the India-France Double Taxation Avoidance Convention
    Union Minister of Commerce & Industry Shri Piyush Goyal calls for stronger collaboration to position India as global leader in agricultural and proces...
    China's exports surge in Jan-Feb despite waning trade with US
    CreditAccess Grameen Advances Inclusive Growth With USD 75 Million Syndicated Social Loan Facility
    Looking to help exporters at insurance front to deal West Asia crisis: Goyal
    AAHAR 2026 – 40th Edition: Strengthening India’s role in the global food economy through a structured B2B platform
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls for Making India’s IP Approval System Among Top Five Globally in Speed, Transparency a...
    FTAs Opening New Opportunities for Pharma, Healthcare and MedTech Sectors: Union Minister of Commerce & Industry Shri Piyush Goyal
    Design to Play Key Role in India’s Decisive Decade of Development: Union Minister of Commerce & Industry Shri Piyush Goyal
    Free Trade Agreements Create New Opportunities for MSMEs to Integrate into Global Supply Chains: Union Minister of State for Commerce and Industry Shr...
    Income tax Department carries out nation-wide verification exercise on restaurants suppressing turnover
    CGST Delhi South Commissionerate arrests director of a company for fraudulent availment of Input Tax Credit (ITC) amounting to ₹60.59 crore thro...
    Secretary, DFS chairs Review meeting to monitor the progress of Public Sector Banks to expedite pending cases at NCLT
    Crude oil prices spike as a broadening Iran war threatens both transport routes and production
    I-T dept detects hidden sales worth Rs 408 crore by restaurants in countrywide operation
    Iran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas
    Oil prices soar as Iran names new supreme leader and digs in
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March 10, 2026
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Stakeholder consultation on proposed Income tax Rules invites inputs via e filing portal, focused on simplification and compliance reduction.
Consultation is invited on the proposed Income tax Rules and related Forms implementing the Income tax Act, 2025, via a utility on the e filing portal. Stakeholders must submit inputs after OTP validation, specifying the exact rule, sub rule or Form number. Inputs are solicited under four categories: Simplification of Language; Reduction of Litigation; Reduction of Compliance Burden; and Identification of Redundant/Obsolete Rules and Forms, to be compiled and considered before final notification.
March 10, 2026
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Tax compliance verification using AI uncovers restaurant under reporting; taxpayers urged to file updated returns under Section 139(8A).
AI enabled transactional analytics compared point of sale data from restaurants with declared income and found deletion and modification of bills and exclusion of transactions leading to under reported sales. Preliminary surveys corroborated suppression and prompted targeted investigations. The Department combined targeted enforcement with a guidance campaign, SAKSHAM NUDGE, inviting identified taxpayers to file updated returns under Section 139(8A) and encouraging voluntary correction of returns.
March 10, 2026
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Dividend taxation restructured with preferential treatment for substantial holdings and altered withholding for other shareholders.
The Amending Protocol reallocates taxing rights on capital gains from sale of company shares to the jurisdiction of the company's residence, removes the Most Favoured Nation clause, introduces a split dividend withholding regime that differentiates substantial holders from other shareholders, aligns the definition of Fees for Technical Services with the India-US model, and expands Permanent Establishment to include a Service PE; it also enhances Exchange of Information, adds Assistance in Collection of Taxes, and incorporates applicable BEPS MLI provisions, subject to each Party's internal procedures for entry into effect.
March 10, 2026
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Free trade agreements expand preferential market access while protecting sensitive agricultural sectors and supporting export competitiveness.
India seeks to expand agricultural and processed food exports through recently concluded FTAs that grant preferential market access while explicitly protecting sensitive domestic sectors such as dairy and GM products and shielding key staples from import exposure. Complementary measures include promoting the Agriculture Infrastructure Fund for food processing and value addition, and providing exporter support via the Export Promotion Mission and DGFT to integrate Indian firms into global value chains.
March 10, 2026
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Trade tariff rollback boosts Chinese export resilience despite weaker US demand and geopolitical energy risks.
China's exports rose sharply in January-February driven by semiconductors, autos and electronics, with broader regional demand offsetting reduced shipments to the United States. A recent judicial ruling lowered US tariffs and, together with a potential extension of the October trade truce, has eased import barriers that supported export growth. Risks to export competitiveness include a slowing domestic economy, property-sector weakness and geopolitical energy disruptions that could curb global demand.
March 10, 2026
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External commercial borrowing qualifies under automatic route, structured as a syndicated social loan supporting eligible social projects.
A syndicated facility classified as an External Commercial Borrowing under the automatic route has been arranged to qualify as a social loan. Proceeds will be deployed under the borrower's Social Loan Framework aligned with the Social Loan Principles 2023, supported by a second-party opinion. The financing is intended to fund eligible social projects, enhance liquidity and asset-liability management, and diversify the borrower's foreign funding sources while imposing use-of-proceeds and governance conditions consistent with social loan practices.
March 10, 2026
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Insurance support for exporters to address shipping and insurance disruptions amid West Asia crisis, government seeks coordinated measures.
The government has issued Customs norms for export cargo returning to Indian ports and is developing insurance support schemes, consulting the Export Credit Guarantee Corporation and other departments to assist exporters whose goods have been shipped but face logistical and insurance problems, while an inter-ministerial group monitors developments and engages regularly with exporters.
March 10, 2026
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B2B platform expands India's food export access by linking producers, processors and MSMEs to global buyers and technology partners.
AAHAR 2026 operates as a structured B2B platform to convert India's agricultural and processing scale into global market access by enabling commercial matchmaking, export partnerships, technology transfer and investment linkages. The exhibition prioritises business outcomes-especially for MSMEs-through dedicated pavilions and buyer-seller interactions that translate government support and technological solutions into export orders, value addition and integration into international supply chains while emphasising sustainability across the food value chain.
March 10, 2026
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IP approval speed and transparency urged to position India's IP regime among global leaders with greater access for startups and women.
India aims to make its intellectual property approval system globally competitive by enhancing speed, transparency and efficiency through recruitment, technology upgrades and backlog reduction; it proposes fast track mechanisms and substantial fee concessions to improve access for startups, women entrepreneurs and micro and small enterprises while strengthening the broader innovation ecosystem via school innovation labs, incubation models and stakeholder engagement.
March 10, 2026
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Free Trade Agreements expand market access for pharmaceutical, healthcare and medtech sectors, requiring industry uptake and integrated healthcare ecosystems.
Free Trade Agreements create preferential market access for pharmaceuticals, healthcare and medtech, benefitting farmers, MSMEs and innovators but requiring active industry utilisation. Policy measures needed include building an integrated healthcare ecosystem linking manufacturing, innovation and hospitals; MSME quality upgradation and testing; skills development for caregivers and nurses to support exports; and adoption of digital health and AI for telemedicine and diagnostics.
March 10, 2026
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Design as strategic national capability: new NID and collaborative AI, industry and craft initiatives to mainstream innovation.
Design is promoted as a strategic national capability with a new National Institute of Design in eastern India to expand design education and link traditional crafts, MSMEs and industry. A five-point agenda sets out to position NIDs as regional knowledge hubs; deepen industry-academic and MSME linkages via design clinics and live cluster projects; create Service and Brand India design labs for citizen-facing services; establish joint AI and frontier-technology design labs with technical institutes; and develop the eastern NID as a model campus driven by public-private partnerships and artisan support.
March 10, 2026
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Free Trade Agreements expand market access for MSMEs, prompting quality-led growth and adoption of AI and digital tools.
Free Trade Agreements expand market access for MSMEs into developed markets but require a shift to quality-led growth because FTA coverage raises product quality expectations and duty concessions do not permit substandard goods. The statement emphasizes technology and AI adoption to improve MSME productivity and decision-making, and outlines targeted support for women entrepreneurs through digital commerce onboarding initiatives and an Assist Cell providing mentorship, funding, marketing and technology guidance to enable scaling and sustainability.
March 10, 2026
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Voluntary compliance: SAKSHAM NUDGE urges restaurants to update returns under Section 139(8A) to rectify filings.
The Income Tax Department used AI-enabled transactional analytics to detect widespread under-reporting in the Food & Beverage sector, conducted an on-site survey that revealed significant sales suppression, and has launched the SAKSHAM NUDGE campaign to encourage identified restaurants to file updated returns under Section 139(8A) while investigations continue.
March 10, 2026
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Fraudulent Input Tax Credit scheme exposed, director arrested amid allegations of bogus invoices and absence of genuine business activity.
Alleged fraudulent availment of Input Tax Credit through bogus invoices for purported supplies is based on GST return analysis and verification showing the supplier's declared premises lacked accounting records, stock or invoices and no verifiable payment trail exists; the director implicated failed to explain operations or payments and is said to have directly benefited from the non genuine paper transactions created solely to pass and utilise Input Tax Credit.
March 10, 2026
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IBC case resolution: banks urged to collaborate, reduce adjournments, and ensure time bound progression for improved recoveries.
Expediting resolution of large insolvency matters and correcting procedural inefficiencies was the focus of a high-level review. Banks were directed to adopt collaborative resolution strategies for asset value maximisation and improved recoveries, reduce adjournments and delays in filing CIRP applications, and ensure continuous monitoring of high-priority cases to achieve time-bound progression through insolvency processes.
March 10, 2026
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Force majeure declarations amid Iran conflict relieve suppliers of contractual obligations as oil shipments and production face disruption.
Intensifying hostilities involving Iran have disrupted crude oil production and tanker routes, causing widespread export constraints, storage shortages and elevated market volatility. Attacks on energy infrastructure and near-halt of tanker traffic through the Strait of Hormuz have led producers to cut output and declare force majeure, excusing contractual performance. Policymakers and market actors are considering coordinated responses-such as releasing strategic reserves or stockpiling-while alternative sourcing and technical restoration of production remain critical to stabilising supply.
March 9, 2026
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Under-reporting of sales detected - data-driven inquiry prompts compliance notices for restaurants to update tax filings.
A data-driven exercise found under-reporting of sales in the restaurant sector through AI analytics comparing transactional data with reported turnover, revealing deletion and modification of bills and omission of transactions. The tax authority has opened investigations and, under the NUDGE campaign, is directing identified outlets to update their income tax returns by a compliance deadline while probes into billing-software manipulation and sampled premises continue.
March 9, 2026
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Force majeure declarations disrupt oil and gas contractual supply chains, creating carriage, insurance and performance risks for parties.
Strikes and security-driven closures have caused shutdowns at major oil and gas terminals, pipelines and refineries, leading suppliers to invoke force majeure and creating contractual, insurance and logistical challenges. The effective closure of a maritime chokepoint and targeted attacks on alternative export terminals have increased carriage and routing risks, while storage constraints have forced producers to suspend output; once shut in, restart may take weeks or months, affecting mitigation, notice and performance obligations. State regulatory orders may create legal bases for interruption separate from force majeure.
March 9, 2026
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Force majeure invoked for oil shipments, suspending contractual delivery obligations amid Gulf supply disruptions and transit risks.
Military attacks and leadership developments in Iran have impaired Gulf oil and gas production and shipping, prompting a national oil company to invoke force majeure to suspend contractual shipment obligations due to extraordinary damage and security risks; resulting export curtailments, tanker transit disruptions through the Strait of Hormuz, and filled storage have reduced available supply, while governments consider reserve releases and impose regulatory measures against hoarding to stabilize markets and protect energy security.
March 9, 2026
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Fuel price freeze maintained as government directs companies to absorb costs and boosts LPG allocation to prevent shortages.
Government sources say retail petrol and diesel prices will not be raised immediately; oil marketing companies are expected to absorb current cost pressures. The state reports adequate crude and fuel stocks for six to eight weeks, has increased the minimum domestic LPG refill booking gap from 21 to 25 days to prevent hoarding, and has directed refineries to maximise LPG production while monitoring global energy developments and recalibrating allocations to maintain supply chain stability.

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March 27, 2026

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New Delhi, Mar 27 (PTI) Following are the top stories at 5.10 pm: TOP STORIES DEL34 BIZ-3RDLD PETROL-EXCISE CUT (3.38 PM) Govt cuts excise duty on petrol, diesel; slaps windfall tax on fuel exports New Delhi: The government has slashed excise duty on petrol and diesel by Rs 10 per litre, averting a pump price hike that had become necessary because of soaring global oil prices.

FGN34 NEPAL-BALEN-2NDLD OATH (4.56 PM) Rapper-turned-politician 'Balen' sworn in as Nepal's 47th PM Kathmandu: Rapper-turned-politician Balendra Shah 'Balen,' took oath as Nepal's democratically elected prime minister on Friday, around six months after the K P Sharma Oli-led government was ousted in a Gen-Z protest that shook the nation. By Shirish B Pradhan LGD8 UP-HC-LIVE IN RELATIONSHIP (4.45 PM) Live-in relationship between married man, consenting adult woman not a crime: Allahabad HC Prayagraj: The Allahabad High Court has said that a married man living in a consensual live-in relationship with an adult woman does not amount to a criminal offence under law.

NATION DEL28 PM-NEPAL-BALEN (1.56 PM) Modi congratulates Balendra Shah on becoming Nepal's new PM New Delhi: Prime Minister Narendra Modi on Friday congratulated Balendra Shah 'Balen' on being sworn in as Nepal's new prime minister, saying that he looks forward to working closely with him to deepen India-Nepal ties for the mutual benefit of both nations.

DEL26 ED-RELIANCE-CHARGESHEET (1.23 PM) ED to file chargesheet in Rs 40,000 crore loan 'fraud' involving ex-RCOM president New Delhi: The Enforcement Directorate may on Friday file a chargesheet as part of its money laundering probe into an alleged Rs 40,000 crore loan fraud involving Reliance Group chairman Anil Ambani's group company RCOM and its past executives, official sources said.

DEL35 CONG-EXCISE-3RDLD FUEL (3.36 PM) Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt New Delhi: The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

PAR15 LS-SULE-CRASH (4.08 PM) Supriya Sule raises Ajit Pawar plane crash in LS, seeks time-bound probe New Delhi: NCP-SP leader Supriya Sule on Friday demanded a time-bound probe into the plane crash that killed former Maharashtra Deputy Chief Minister Ajit Pawar and criticised the state government for not filing an FIR in the matter.

DEL45 DEF-CONTRACTS (4.20 PM) Govt inks twin defence deals worth Rs 858 crore New Delhi: The defence ministry on Friday signed a Rs 445 crore contract with Russia's Rosoboronexport for procurement of an air defence missile system for the Indian Army.

DEL27 DL-SONIA GANDHI-HOSPITAL (1.23 PM) Sonia Gandhi's health shows improvement, will be discharged from hospital soon: Doctors New Delhi: Senior Congress leader Sonia Gandhi's health is showing steady improvement, and she will be discharged from the hospital within one to two days, her doctors said on Friday.

CAL20 WB-POLLS-ABHISHEK (4.43 PM) Modi govt may hike fuel prices after assembly polls: Abhishek Banerjee Kolkata: Senior Trinamool Congress leader Abhishek Banerjee on Friday said there is a strong possibility that the BJP-led central government will increase the prices of cooking gas and transport fuel after the assembly elections are over on April 29.

CAL19 WB-MAMATA-LPG (4.38 PM) LPG cylinders produced in Bengal should not be sent outside: Mamata Kolkata: West Bengal Chief Minister Mamata Banerjee on Friday reiterated her demand that cooking gas produced in the state should not be diverted elsewhere in the country, citing concerns over a perceived LPG shortage amidst the ongoing West Asia conflict.

MDS16 TN-POLLS-AIADMK-LIST (4.01 PM) AIADMK announces second list of party candidates for Apr 23 TN Assembly polls Chennai: The Opposition AIADMK in Tamil Nadu on Friday announced the second list of its party candidates for the April 23 Assembly election, retaining some of its MLAs.

DEL30 PREZ-ECONOMIC-POLICY (3.21 PM) 'Behind every statistic lies human story', economic policy should improve people's lives: Murmu New Delhi: Asserting that behind every statistic lies a human story, President Droupadi Murmu on Friday said that the true measure of economic policy is not merely in numbers, but in its outcome.

BOM9 MH-ZIRWAL-FADNAVIS (2.44 PM) Will take appropriate decision on Zirwal issue after verifying facts: Fadnavis (2.44 PM) Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday said an “appropriate decision” on minister Narhari Zirwal will be taken after verification of facts in connection with a viral video showing the NCP leader with a trans-person in a bedroom.

LEGAL BOM6 MH-HC-AMBANI-PIL (1.23 PM) HC junks plea seeking CBI probe against Mukesh Ambani, RIL over ‘illegal’ gas extraction Mumbai: The Bombay High Court on Friday dismissed a petition seeking a CBI probe against Reliance Industries Limited and its chairman and managing director Mukesh Ambani for alleged unlawful extraction of natural gas from ONGC’s Krishna-Godavari basin fields.

LGD7 CJI-JUDGES VACANCY (3.56 PM) CJI writes to HCs for expeditious filling of vacant posts, prioritising elevation of women judges New Delhi: Chief Justice of India Surya Kant has written to chief justices of high courts for expeditious filling up of judicial vacancies with special focus on elevation of women judges for ensuring diversity in the benches.

BUSINESS DEL24 BIZ-LPG-ALLOCATION (1.15 PM) Govt raises commercial LPG supply to 70 pc of pre-war demand, prioritises key industries New Delhi: The central government has increased commercial LPG allocations to states by 20 per cent, raising the quota to 70 per cent of pre-war demand to meet industrial requirements, including steel and automobiles.

FOREIGN FES20 LANKA-HEALTH SCAM (3.47 PM) Former Sri Lanka health minister fined LKR 75 million for purchasing substandard medicines Colombo: The Supreme Court on Friday fined a former health minister Sri Lanka rupees 75 million for violating fundamental rights by importing medicines under an Indian credit line in 2022 through a company not registered for the purpose. PTI AMJ AMJ

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