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September 1, 2026
Gross and Net GST revenue collections for the month of August, 2026
Show AI Summary
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
A Quarter-Century of Trade. One Unbroken Connection.
Show AI Summary
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
NCLT bars Subhash Chandra from alienating assets, stays Rs 6.5-cr repayment plan
Show AI Summary
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
Rupee gains 28 paise to close at 94.94 against US dollar
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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
ED raids in Chhattisgarh PSC 'scam' case; Baghel's ex-PA raided
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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
NCLT bars Subhash Chandra from selling assets as lenders challenge Rs 6.5 cr settlement
Show AI Summary
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
HIGHLIGHTS
Show AI Summary
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
Loan waiver scheme: Special Aadhaar verification process for farmers in Latur
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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
Gross GST mop-up grows 15 pc to Rs 2 lakh cr in Aug
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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
NCLT issues notices in Subhash Chandra insolvency matter, directs not to dispose of property
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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
Markets drift lower in early trade amid higher oil prices, fresh US-Iran tensions
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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
ED raids in Chhattisgarh PSC 'scam' case; ex CM Baghel's PA raided
Show AI Summary
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
ITR filing for AY27 touches record 7.8 cr
Show AI Summary
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
DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling
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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
MoSPI signs MoU with Thapar Institute of Engineering & Technology, Punjab for undertaking a Research Study
Show AI Summary
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
NCLT forms historic 5-member bench to decide on Subhash Chandra's Rs 6.5 cr repayment plan
Show AI Summary
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
NCLT fails to arrive majority decision on Subhash Chandra's Rs 6.5 cr repayment plan
Show AI Summary
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
Rupee rises 21 paise to close at 95.22 against US dollar
Show AI Summary
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
Record 7.5 cr ITRs filed for AY'27, deadline ends midnight tonight
Show AI Summary
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
Monthly Review of Accounts of Union Government of India upto the month of July 2026 (FY 2026-27)
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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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PMLA / Black Money

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May 18, 2026

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New Delhi, May 17 (PTI) Following are the top stories at 5.25 PM: NATION DEL3 WASIA-MEA-UAE-NUCLEAR (09.21 PM)

Deeply concerned: India on drone strike near UAE's Barakah nuclear plant New Delhi: India on Monday voiced deep concern over a drone attack targeting the Barakah nuclear facility in the United Arab Emirates (UAE) as it marked a dangerous escalation in the West Asia conflict.

DEL26 CBI-LD NEET (02.47 PM)

Coaching centre founder arrested in NEET case New Delhi: The CBI arrested Renukai Career Centre founder Shivraj Raghunath Motegaonkar on Sunday over his alleged involvement in the NEET-UG paper leak, agency officials said on Monday.

DEL34 PAR-NTA-NEET (03.46 PM)

Parliamentary panel summons NTA chief; to review reforms, NEET-UG paper leak case on Thursday New Delhi: A parliamentary panel has decided to review the implementation of reforms in the National Testing Agency (NTA) as well as the NEET-UG 2026 paper leak case and has summoned NTA Chairperson Pradeep Kumar Joshi and other bureaucrats for deliberations.

BOM13 CG-SHAH-BASTAR-MARTYRS (04.08 PM)

Govt fully committed to permanent peace, last-mile development in Bastar: Amit Shah Jagdalpur: Union Home Minister Amit Shah on Monday said the government is fully committed to establishing permanent peace in Chhattisgarh's Bastar region and ensuring that development reaches the last person.

MDS23 KA-FUEL-KHARGE (01.19 PM)

PM Modi, Centre 'lack' foresight, responsible for rising inflation: Kharge Bengaluru: Hitting out at Prime Minister Narendra Modi and the Centre over the recent hike in fuel prices, AICC President Mallikarjun Kharge on Monday accused them of "lacking foresight" and driving up inflation in the country.

MDS35 KL-CABINET-LD DECISIONS (04.39 PM)

UDF govt announces welfare measures, free KSRTC travel for women from June 15 Thiruvananthapuram, May 18 (PTI) The newly sworn-in UDF government in Kerala on Monday announced a series of welfare measures, including free travel for women in KSRTC buses from June 15, enhanced honorarium for ASHA and Anganwadi workers, and the creation of a dedicated department for elderly people.

CAL28 WB-2ND LD CABINET (04.20 PM)

Bengal cabinet to discontinue stipends for religious leaders from June Kolkata: The West Bengal cabinet on Monday decided that assistance-oriented schemes currently in place based on religious categorisation for Imams, muezzins and purohits would be discontinued from June this year.

DEL25 ED-AAP-ARREST (02.39 PM)

ED arrests AAP leader Deepak Singla in money laundering case New Delhi: The Enforcement Directorate on Monday arrested AAP leader Deepak Singla in an alleged money laundering case following searches in Delhi and Goa, officials said.

DEL37 NCR-2NDLD DOWRY (04.03 PM)

Woman 'jumps to death' over dowry harassment in Gr Noida; husband held Noida: A 24-year-old woman died allegedly after jumping from the terrace of her three-storey matrimonial house in Uttar Pradesh's Gautam Buddh Nagar district following harassment by her in-laws over dowry, police said on Monday.

LEGAL LGD7 SC-BAIL-LD UAPA (12.24 PM)

Bail is rule, jail exception even in UAPA cases: SC grants bail to narco-terror case accused New Delhi: Observing that bail is the rule and jail an exception even in UAPA cases, the Supreme Court on Monday granted bail to a man allegedly involved in drug trafficking and financing terror in Jammu and Kashmir.

BUSINESS DEL36 BIZ-RUPEE-CLOSE (03.58 PM)

Rupee settles at record low of 96.35 against US dollar Mumbai: The Indian rupee weakened further and closed at a record low of 96.35 (provisional) against the US dollar on Monday, pressured by rising crude oil prices on the back of ongoing geopolitical tensions and a strong dollar.

DEL43 BIZ-FINMIN-AUSTERITY (05.17 PM)

FinMin asks PSU banks, insurers to adopt austerity measures, shift to EV New Delhi: The Finance Ministry on Monday urged public sector banks and financial institutions to adopt austerity measures and shift to electric vehicles, following Prime Minister Narendra Modi's appeal.

CAL32 OD-LD SEBI (5.23 PM)

Indian markets capable of absorbing different types of shocks: SEBI chief on West Asia crisis Bhubaneswar: Volatility has shot up in the financial markets due to the ongoing West Asia conflict, but the Indian bourses have the capacity to “absorb different types of shocks”, Sebi Chairman Tuhin Kanta Pandey said on Monday.

FOREIGN FGN28 PM-NORWAY-TALKS (04.18 PM)

PM Modi holds talks with Norwegian counterpart Oslo: Prime Minister Narendra Modi held talks with his Norwegian counterpart Jonas Gahr Støre on Monday, focusing on trade and investment, green technology, blue economy, and other key areas.

FGN24 PM-SWEDEN-LD OUTCOMES (03.46 PM)

PM Modi’s Sweden visit yields strategic partnership; both sides unveil tech roadmap, aim to double trade in 5 years Gothenburg (Sweden): Driven by a push to deepen strategic and technology ties, India and Sweden have unveiled an ambitious roadmap spanning artificial intelligence, critical minerals, innovation, trade and cultural exchanges during Prime Minister Narendra Modi’s visit to the country.

FGN1 US-CHINA-IRAN (03.13 AM)

China committed to US on not providing material support to Iran: US trade representative Washington: US Trade Representative Jamieson Greer has said that President Donald Trump secured a commitment from China not to "provide material support to Iran." By Sagar Kulkarni

FGN30 CHINA-PUTIN (04.59 PM)

After Trump, Putin to visit Beijing for talks with Xi Beijing: Russian President Vladimir Putin will visit China on Tuesday – a trip that comes shortly after his US counterpart Donald Trump’s visit to Beijing for talks with Chinese leader Xi Jinping.

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