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September 1, 2026
Govt hikes windfall gains tax on petrol, diesel exports; cuts levy on ATF
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
DGFT Enables Automated Issuance of Free Sale and Commerce Certificates to Promote Ease of Doing Business
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
Bank unions to go on nationwide strike on Sep 11 over 5-day banking, other issues
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
Stock markets close marginally lower amid higher oil prices, fresh US-Iran tensions
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
Gross and Net GST revenue collections for the month of August, 2026
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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.
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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
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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
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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
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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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
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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.

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HIGHLIGHTS

June 17, 2026

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New Delhi, Jun 17 (PTI) Following are the top stories at 1 pm: NATION DEL39 UP-AKHILESH-SPLIT (4.14 PM)

Akhilesh trashes Rajbhar's claim of split in Samajwadi Party, says it remains strong Lucknow: Dismissing Uttar Pradesh minister Om Prakash Rajbhar's claim of an impending split in the Samajwadi Party, Akhilesh Yadav on Wednesday said the party remained strong and it was the BJP which had a history of “engineering” defections through inducements and pressure.

BOM26 MH-SENA (UBT)-2NDLD RAUT (4.26 PM)

Raut alleges MPs are being offered Rs 50 crore to defect, dares Sena (UBT) dissidents to resign first Mumbai: Amid heightened speculation about an imminent split in the Shiv Sena (UBT), party leader Sanjay Raut on Wednesday alleged that some MPs from Maharashtra were being offered Rs 50 crore to switch sides, and challenged dissidents to quit.

DEL43 CONG-RAHUL-STUDENTS (4.48 PM)

Might of state being deployed to sabotage Rahul Gandhi's student convention in Kota: Cong New Delhi: The Congress on Wednesday alleged that the full might of the state is being deployed to sabotage Rahul Gandhi’s student convention in Rajasthan’s Kota because the BJP and Prime Minister Narendra Modi are anxious that their “throne is tottering”.

DEL36 SPEAKER-TMC-LD ABHISHEK (4.05 PM)

TMC split: Speaker invites Abhishek Banerjee for meeting, TMC says got no communication yet New Delhi: Lok Sabha Speaker Om Birla on Wednesday invited Trinamool Congress leader Abhishek Banerjee for a meeting on June 19 to present his case on the split in the Mamata Banerjee-led party, parliamentary sources said.

DEL33 PAR-JP-SARANGI (3.37 PM)

Stakeholders support legislation to decriminalise politics: joint committee chairperson Sarangi New Delhi: The joint committee of Parliament examining the Constitution (130th Amendment) Bill, 2025, on removal of PMs, CMs and ministers from office if they are detained for over 30 days for serious crimes has received support and suggestions on the proposed legislation and found no resistance to its intent to decriminalise politics, panel chairman and BJP MP Aparajita Sarangi said on Wednesday.

DEL45 RAHUL-TELEGRAM-LD GOVT (4.56 PM)

Drop theatrics; strike at paper leak mafia, not students: Rahul to PM Modi on Telegram curbs New Delhi: Congress leader Rahul Gandhi on Wednesday slammed the government after it temporarily restricted access to Telegram, saying the "new trick" was akin to putting a lock on the victim's house instead of catching the thief.

BOM25 GJ-INDIA EXPORTS-BHADOO (4.11 PM)

India's exports hit record USD 863 billion in FY 26 amid West Asia turmoil and US tariffs: Official Ahmedabad: Despite global trade disruptions stemming from the West Asia conflict and the imposition of US tariffs, India's exports reached a record high of USD 863 billion in Financial Year 2025-26, a senior Commerce Ministry official said on Wednesday.

DEL31 AVI-NOIDA AIRPORT-CARGO (3.21 PM)

Noida International Airport begins freight operations with arrival of first cargo flight Noida: The Noida International Airport (NIA) began freight operations with the arrival of the first cargo plane on Wednesday, two days after starting commercial passenger flights on June 15.

DEL30 DEF-LD-PRODUCTION (3.07 PM)

India's annual defence production surges to Rs 1.78 lakh cr in 2025-26 New Delhi: India's annual defence production touched an all-time high of Rs 1.78 lakh crore in the financial year 2025-26, the defence ministry said on Wednesday.

LEGAL LGD6 SC-NEET (4.06 PM)

Justice Narasimha-led bench to hear plea concerning NEET-UG in July: SC New Delhi: A bench headed by Justice P S Narasimha will hear in July a plea challenging the decision to conduct NEET-UG 2026 re-test, the Supreme Court said on Wednesday.

LGD2 DL-HC-TELEGRAM (1.39 PM)

Telegram moves Delhi HC against govt's temporary ban order New Delhi: Telegram on Wednesday moved the Delhi High Court against a government order to temporarily restrict access to the messaging app ahead of the June 21 NEET-UG 2026 re-examination.

BUSINESS DEL20 BIZ-LD-TELEGRAM-RELIANCE (1.11 PM)

Telegram's Durov alleges Reliance link to India ban push; industry source calls claim 'fake news' New Delhi: Telegram founder and CEO Pavel Durov on Wednesday alleged that Reliance may have been involved in efforts to ban the messaging platform in India and accused an affiliate of disrupting Telegram's internet access outside the country, claims that an industry source dismissed as "fake news" based on confusion between two separate Reliance group companies.

FOREIGN FGN24 PM-G7-IMPACT (4.06 PM)

PM Modi pitches for setting up global framework to boost trade and connectivity Evian-Les-Bains (France): Prime Minister Narendra Modi on Wednesday pitched for setting up a global framework to boost cooperation on connectivity and trade by combining the strengths of the G7 nations, India and the Global South countries.

FGN19 PM-TRUMP (2.17 PM)

Trade, defence likely to figure at meeting between PM Modi, President Trump Evian-les-Bains : Prime Minister Narendra Modi and US President Donald Trump will hold wide-ranging talks on Wednesday, which are expected to focus on expediting sealing of the proposed bilateral trade deal and ways to boost cooperation in defence, energy and critical minerals sectors.

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