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    STANDARD OPERATING PROCEDURE (SOP) ON TDS
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June 8, 2026
Show AI Summary
GST TDS compliance framework explains threshold, deduction rates, registration, return filing, and certificate issuance for deductors.
TDS under GST applies to specified government and government-controlled deductors when payment or credit is made to suppliers of taxable goods or services under a contract exceeding Rs. 2,50,000, excluding GST and cess. The SOP explains the taxable threshold, intra-State and inter-State rates, exclusions for exempt or non-taxable supplies, the procedure for registration, challan payment, return filing in FORM GSTR-7, and issue of FORM GSTR-7A certificate. It also outlines late fee, interest, penalty, and refund consequences for non-compliance.
June 8, 2026
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Battery energy storage systems gain a scalable liquid-cooled design for industrial power, backup, and renewable integration.
Trex Energy announced the commercial launch of a liquid-cooled Battery Energy Storage System for commercial, industrial, and utility applications, combining a lithium iron phosphate battery, integrated energy management, AC/DC architecture, and fire suppression in a single-cabinet design. The system is presented as a scalable storage solution for on-grid and off-grid use, with compatibility for renewable generation, EV charging, backup power, and grid-support functions.
June 8, 2026
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Wealth management innovation recognized through leadership, client service and family office excellence at global private banking awards.
Spark Capital Private Wealth Management was recognised at the Global Private Banking Innovation Awards 2026 for leadership, client service and brand-building in private banking and wealth management. Arpita Vinay was named Outstanding Achievement by a Wealth Management CEO - Asia, reflecting the firm's client-centric, technology-driven and institutional advisory approach for ultra-high-net-worth and family office clients. The firm also received awards for Outstanding Wealth Management Service by a Multi-Family Office and Outstanding Marketing Campaign.
June 7, 2026
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Mango export quality concerns as weather-induced spotting threatens Himsagar shipments and import acceptance.
Weather-induced mango disease has affected the export prospects of Bengal's Himsagar mangoes, as dark spots on bagged fruit may make produce unsuitable for overseas shipment and organised retail sales. The spots are attributed to continuous rain during bagging followed by high temperatures, and exporters say such blemishes can lead to rejection by importers because export fruit is expected to be free from spotting. Export promotion efforts continue through fruit bagging, good agricultural practices, scientific harvesting and post-harvest handling to meet international quality standards.
June 7, 2026
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Domestic LPG pricing linked to global benchmarks sees hike as government keeps household cooking gas below import cost.
Domestic LPG prices were raised in response to higher international benchmark costs linked to West Asia disruptions, while the government continued to modulate consumer pricing for households. The revised retail price for a 14.2-kg cylinder in Delhi was stated at Rs 942, and Ujjwala beneficiaries were to pay an effective Rs 642 on the first four annual refills through a Rs 300 direct benefit transfer. The statement distinguished domestic LPG from fully market-priced commercial cylinders and said supply was maintained through increased production, diversified imports, and subsidy support.
June 6, 2026
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Trade and investment cooperation with Latin American and Caribbean countries expands through export facilitation, infrastructure upgrades and sectoral partnerships.
Madhya Pradesh urged stronger trade and investment engagement with Latin American and Caribbean countries, highlighting rising exports and broad scope for bilateral cooperation in sectors such as pharmaceuticals, agriculture and food processing, information technology, biotechnology, energy, mining, logistics, manufacturing and tourism. The state government also proposed export infrastructure measures, including export facilitation centres, quality testing and certification facilities, upgraded export hubs, stronger buyer-seller linkages, improved export finance and risk coverage mechanisms, and skill development for exporters.
June 6, 2026
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Arctic logistics and aluminium value addition shape Andhra Pradesh's push to become a strategic trade and manufacturing hub.
Andhra Pradesh was presented as a strategic gateway for Arctic logistics and broader global trade, supported by its coastline, ports and logistics infrastructure. The discussion stressed resilient supply chains, shorter shipping routes, two-way cargo movement and stronger economic connectivity. Separate talks with RUSAL focused on expanding aluminium value addition in the state through downstream manufacturing, smelting capacity and an integrated industrial ecosystem linked to ports, logistics and renewable energy.
June 6, 2026
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GI-tagged Tezpur litchi festival highlights export growth, value addition and wider market opportunities for growers.
Tezpur Litchi Festival 2026 highlighted Assam's GI-tagged Tezpur litchi as a crop with growing export and agro-processing potential. The event brought together farmers, exporters, scientists, entrepreneurs and policymakers to discuss market expansion, branding, value addition and improved cultivation practices, while fresh export initiatives were announced for Dubai and Singapore. The festival also showcased innovative litchi-based products, exhibitions, seminars and farmer recognition to strengthen commercial visibility and market reach.
June 6, 2026
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Carbon credit trading and green hydrogen standards shaped India's WTO climate engagement and low-carbon transition agenda.
India presented its carbon credit trading framework and renewable energy standardisation initiatives at WTO Trade and Environment Week 2026, linking them to sustainable development, clean energy transition and nationally determined contributions under the Paris Agreement. The discussion highlighted India's evolving national carbon market architecture under the Carbon Credit Trading Scheme, including a national electronic carbon credit trading platform and market-based incentives for greenhouse gas emission reduction. It also referred to technical criteria for classifying hydrogen as Green Hydrogen and to transparency concerns around unilateral trade-restrictive climate measures.
June 6, 2026
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Maritime insurance self-reliance gains momentum as the Bharat Maritime Insurance Pool lowers risk-cover premiums.
A workshop on the Bharat Maritime Insurance Pool brought together maritime and insurance stakeholders to discuss current insurance covers available through the pool and the industry's requirements for protection and indemnity coverage in India. The discussions centred on the need for a reliable, sustainable and internationally acceptable domestic P&I framework, with the pool presented as a means of supporting maritime risk cover and reducing dependence on foreign P&I arrangements for Indian shipping interests. Premium reductions under the pool were highlighted for hull war and cargo war-risk covers, with the benefit of sovereign guarantee described as making maritime insurance more affordable.
June 5, 2026
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Trade and investment forum in Madhya Pradesh to showcase industrial infrastructure and export potential across key sectors.
Diplomatic representatives from more than 15 Latin American and Caribbean countries are to participate in a trade and investment forum in Indore organised to discuss trade and investment opportunities in Madhya Pradesh. The event will showcase the State's industrial infrastructure, export potential and investment prospects across sectors including pharmaceuticals, packaging materials, engineering, textiles and food processing.
June 5, 2026
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Bilateral trade agreement negotiations advance as India and the US hold positive talks on goods, customs and facilitation.
India and the US held positive and constructive negotiations to advance an interim bilateral trade deal and a broader trade agreement. The talks followed an earlier framework for reciprocal and mutually beneficial trade and were intended to firm up that arrangement through continuing engagement. Discussions covered trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment, and other areas of mutual interest, with both sides reaffirming their commitment to carry the agreement forward.
June 5, 2026
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Fisheries infrastructure modernisation drives export-oriented growth with funding for Kakinada Fishing Harbour and stronger export facilities.
Centre sanctioned funding for modernisation of Kakinada Fishing Harbour into a smart harbour under the Pradhan Mantri Matsya Sampada Yojana, to improve landing facilities and promote fish exports. The upgrade is stated to support berthing for about 423 vessels, handle annual landings of around 74,448 tonnes, and generate substantial employment. The ministry also said it was ready to establish a regional office of the National Fisheries Development Board at Kakinada if land is provided by the state government.
June 5, 2026
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Foreign capital inflows and forex liquidity measures lift the rupee as the repo rate stays unchanged.
The rupee appreciated after the Reserve Bank announced measures intended to support foreign capital inflows and strengthen forex liquidity. The Monetary Policy Committee kept the repo rate unchanged with a neutral stance while raising the inflation forecast and lowering the growth projection. Analysts said the policy package could aid near-term rupee appreciation, subject to oil prices and the actual scale of dollar mobilisation.
June 5, 2026
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Bullion prices weaken as West Asia tensions, a stronger rupee, and tighter global monetary signals pressure gold and silver.
Bullion prices weakened amid shifting geopolitical signals from West Asia, with gold and silver extending volatile moves in domestic and international markets. Domestic gold prices fell after brief recovery in the previous session, while silver recorded a sharper decline, reflecting continued uncertainty in precious metal markets. Analysts linked the weakness to international market softness, a stronger rupee, and fragile sentiment created by unresolved regional tensions alongside expectations that interest rates may stay elevated for longer. The domestic currency and policy backdrop also influenced bullion pricing, with measures to attract foreign capital and support the rupee adding pressure on gold prices.
June 5, 2026
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Regulatory oversight and crony capitalism dominate Congress criticism over alleged Rajesh Exports misrepresentation and delayed enforcement.
Congress questioned the role of probe agencies and the government's regulatory oversight in relation to allegations surrounding Rajesh Exports, relying on SEBI's interim order and saying the case reflects a wider problem of crony capitalism and weak enforcement. SEBI's interim findings were described as indicating large-scale misrepresentation of financial statements, routing and layering of funds through personal accounts and related entities, and inadequate disclosures or supporting documentation.
June 5, 2026
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GDP growth and macroeconomic stability drive India's expansion amid oil price pressure and supply-chain disruptions.
India's economy recorded 7.8 per cent GDP growth in the January-March quarter, with full-year growth rising to 7.7 per cent, supported by strong domestic demand, government expenditure, healthy consumption and robust investment activity. Gross value added also increased, indicating that expansion was backed by production momentum as well as demand. The growth performance was driven mainly by secondary and tertiary sectors, while private final consumption expenditure and gross fixed capital formation showed strong expansion.
June 5, 2026
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Inflation target remains unchanged as RBI ties future policy action to persistent price pressures and data dependence.
The Reserve Bank of India reiterated that its 4 per cent medium-term inflation target remains unchanged and has not been placed in abeyance, while monetary policy action will depend on whether price pressures become broad-based and persistent. The central bank kept the repo rate unchanged and maintained a neutral stance, saying temporary shocks may be looked through, but entrenched inflationary pressures affecting expectations would require policy response.
June 5, 2026
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Bilateral trade agreement negotiations advance as India and the United States revisit tariffs, market access and trade-facilitation terms.
India and the United States are advancing the first phase of a bilateral trade agreement, with negotiations focused on trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment and related areas of mutual interest. The interim framework contemplates preferential market access and tariff adjustments, while both sides continue work on the broader bilateral trade agreement. The article also notes the changing US tariff environment and pending Section 301 investigations linked to forced-labour concerns.
June 5, 2026
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Insolvency law amendments streamline default records, disclosure, liquidation claims and personal guarantor asset reporting.
The Insolvency and Bankruptcy Board of India has amended multiple regulations to align them with the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The information utilities framework now uses the broader term financial institution, provides for issuance of a record of default on debtor confirmation or non-response after reminders, and introduces a standardised Information of Dispute output where default is disputed. Other amendments revise disclosure for pre-packaged insolvency applications, claims handling and termination in voluntary liquidation, asset disclosure and coordination requirements in personal guarantor processes, and align grievance, inspection, and disciplinary provisions with the amended Code.

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Customs & Trade

Modi, Trump direct officials to swiftly finalise trade pact: Foreign Secretary Misri

June 18, 2026

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Paris, Jun 18 (PTI) Trade was a major subject of discussion between Prime Minister Narendra Modi and US President Donald Trump, with both leaders directing their negotiators to finalise the proposed trade pact at the earliest, Foreign Secretary Vikram Misri said on Thursday.

Misri's comments came a day after Modi and Trump held wide-ranging talks for the first time in 16 months on the margins of the G7 Summit in an attempt to rebuild the strained bilateral ties.

"There were some important and urgent issues that needed to be discussed yesterday, notably the trade agreement, which is something that has created a certain amount of uncertainty over the past year or so between the two countries," the foreign secretary said.

"And it was important that we move forward to some kind of certainty on these issues," he said at a media briefing.

Misri said significant progress has been made on the conclusion of the interim trade pact and that US Trade Representative, Jamieson Greer, will be visiting India next week to take forward the discussions.

"With the United States, we have made significant progress already on the conclusion of an interim free trade agreement. We are in the final stages of concluding that agreement," he said.

"In the bilateral meeting between the prime minister and President Donald Trump in Evian, this was a major subject of discussion. Both leaders once again gave instructions for this agreement to be concluded at the earliest possible," Misri said.

The foreign secretary said trade was a key area of focus during Modi's separate bilateral meetings with UK Prime Minister Keir Starmer, Canadian PM Mark Carney, and European Union leaders Antonio Costa and Ursula von der Leyen.

Misri said the West Asia situation also figured prominently in PM Modi's engagement at G7 outreach meetings as well as in his bilateral talks.  PM Modi expressed India's desire to see sustained peace and security in West Asia, he added.

US President Trump on Wednesday signed an initial agreement to end the war with Iran.

Misri said India has been in close touch with most of the protagonists who are involved or affected by the conflict.

"We remain in very close touch with all of those partners, and we'll be ready to do whatever it is, whatever it is possible for us to do, in so far as addressing the next steps," he said.

"India welcomed the developments that have taken place through the understanding that has been reached between the US and Iran and hopes to see a rapid return to peace and stability in the region," Misri said.

The foreign secretary said India always emphasised the importance of maintaining the freedom of navigation and unimpeded commerce through the international waterways in the region.

He said Modi specifically underlined the importance of the safety and security of seafarers.

"He noted how hundreds of thousands of Indian seafarers essentially provide a global public good by serving on maritime platforms that serve the global community and serve global maritime trade in a big way, and why therefore their safety and security should be a common concern of the global community," Misri said.

"This is something that he voiced not just in his intervention at the G7 summit outreach meetings but also in his bilateral meetings with several leaders," he added.

Misri said India expects that the peace deal between the US and Iran will lead to sustained peace and stability in West Asia.

"India has always advocated the path of dialogue and diplomacy to settle conflicts such as these. We have always also expressed our readiness to contribute in any manner that we can," he said.

"We have very strong relationships with all of the countries in the region," he said. PTI MPB ZH ZH

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