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    CGST Delhi South observes GST Pakhwada 2026 with stakeholder outreach and recognition of excellence
    DRI busts cross-border gold smuggling racket in West Bengal; 24 kg foreign-origin gold worth ₹34 crore seized, seven held
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July 1, 2026
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Taxpayer facilitation and voluntary compliance marked GST Pakhwada outreach, grievance redressal, and stakeholder engagement initiatives.
Taxpayer facilitation and participative governance were emphasised through GST Pakhwada 2026 outreach activities undertaken by the CGST Delhi South Commissionerate to engage taxpayers and tax professionals, promote awareness, address concerns and strengthen voluntary compliance. An open dialogue and grievance-redressal session provided a forum for taxpayers to raise issues and suggestions, which were addressed by officers as part of a consultative compliance model. Certificates of commendation were issued to officers in recognition of exemplary service and contribution to a transparent and citizen-centric tax administration.
July 1, 2026
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Foreign-origin gold smuggling intercepted in West Bengal, with concealed bars seized and seven persons arrested.
Cross-border smuggling of foreign-origin gold along the Indo-Bangladesh border in West Bengal was intercepted in an intelligence-led operation by the Directorate of Revenue Intelligence. Seven persons travelling on separate motorcycles were searched, resulting in recovery of foreign-marked and defaced gold bars concealed in specially tailored cloth belts worn around their waists to avoid detection. The recovered gold was seized under the Customs Act, 1962, and all seven persons involved in the smuggling operation were arrested.
July 1, 2026
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Cross-border gold smuggling and illicit currency routing exposed through coordinated DRI operations linking carriers, cargo consignments, and a melting unit.
Cross-border gold smuggling was detected through coordinated DRI operations involving multiple carriers, train routes and a Delhi-based illicit melting facility. Foreign-origin gold concealed on persons and in a customised waist belt was recovered, and the persons involved were arrested. A separate Chennai operation unearthed the illicit movement of foreign currency through domestic air cargo consignments, with the currency being used to finance organised smuggling of gold and silver into India.
July 1, 2026
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India-France strategic economic partnership deepens through bilateral dialogue, investment promotion, technology collaboration and innovation-focused engagements.
Official visit to France focuses on strengthening the India-France strategic economic partnership through bilateral engagements directed at economic cooperation, investment promotion, technology collaboration and innovation. The Finance Minister is scheduled to co-chair the India-France Economic and Financial Dialogue and discuss broader areas of bilateral cooperation across sectors. The visit also includes meetings with global CEOs and business leaders, a panel discussion on expanding the middle class, visits to the ITER fusion project and Campus Cyber, discussions on investment, clean energy and technology cooperation, and a community event with the Indian diaspora.
July 1, 2026
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Subject committee scrutiny of finance bills sparks assembly boycott over liquor tax policy changes.
Opposition members in the Kerala Assembly objected to the government moving the Finance Bill directly before the House without first referring it to the Subject Committee. The dispute concerned proposed changes to liquor-related tax policy, including amendments to the Kerala GST framework and a substantial reduction in taxes on certain liquor products. The Chief Minister said all legal and procedural requirements had been followed and that there was no legal basis for the objection, after which the Speaker rejected the point of order and the Opposition boycotted the proceedings.
July 1, 2026
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GST rationalisation for paperboard packaging sought to ease inverted duty structure and support MSMEs.
A trade chamber has sought GST rationalisation for paper and paperboard used in manufacturing corrugated cartons, boxes and cases, proposing a reduction from 18 per cent to 5 per cent. The request is based on the inverted duty structure created when raw materials attract 5 per cent GST while the finished product attracts 18 per cent GST, leading to embedded tax costs. The chamber says the measure would support competitiveness, MSME liquidity, employment generation and exports.
July 1, 2026
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Beneficiary verification under free electricity scheme draws criticism over PAN and caste certificate requirements for eligibility checks.
Door-to-door verification was begun for beneficiaries under the Gruha Jyothi scheme, with electricity staff collecting records through a mobile application and declaration form. Beneficiaries were asked to keep Aadhaar card for verification only, passport-size photograph, voter ID card, PAN card, tenancy or rental agreement where applicable, ration card, and caste certificate ready. The exercise was said to check misuse, while opposition criticism focused on the request for PAN cards and caste certificates.
July 1, 2026
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GST collections surge on strong import revenue and domestic supplies, with refunds rising alongside business liquidity support.
GST collections rose sharply in June, with gross revenue increasing 14 per cent to about Rs 1.95 lakh crore, driven by higher receipts from imports and domestic supplies. Domestic transaction collections grew 6.5 per cent to about Rs 1.35 lakh crore, while import-related revenue surged 34.6 per cent to Rs 60,038 crore. After refunds of Rs 32,436 crore, net GST collection rose 11.2 per cent to over Rs 1.62 lakh crore.
July 1, 2026
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Kisan Credit Card misuse and banking credential fraud alleged in loan manipulation case, with chargesheet filed after investigation.
Alleged manipulation of Kisan Credit Card accounts and unauthorised debit transactions was reported against a daily wage employee of J-K Bank, with investigators stating that banking credentials were misused to siphon funds and enhance credit limits without authorisation. A chargesheet was filed against the accused for allegedly obtaining an amount through unauthorised transactions, manipulation of KCC loan limits, and misuse of banking credentials.
July 1, 2026
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UPI expansion and cross-border digital payments advance as services go live in Greece alongside India-Greece business cooperation.
UPI services were launched live in Greece through the Eurobank-NIPL partnership, extending India's digital payment ecosystem to a new international market. Eligible customers may transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly compared with conventional money transfer methods. The accompanying India-Greece business engagements focused on strengthening trade, investment, and commercial cooperation across sectors including infrastructure, digital innovation, defence, food processing, and agriculture.
June 30, 2026
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Windfall tax on petroleum exports revised, with lower diesel and ATF levies and a higher petrol export duty.
Windfall gains tax on petroleum exports was revised for the fortnight beginning July 1, with the levy on diesel exports reduced and the levy on ATF exports reduced, while the duty on petrol exports was increased. The revised special additional excise duty applies to exports only, and there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption. The exemption earlier available for exports of petrol, diesel and ATF by Public Sector Oil Companies to Nepal, Bhutan, Bangladesh and Sri Lanka was extended to similar exports to Mauritius and Maldives.
June 30, 2026
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Banking system resilience remains strong as NPAs fall, while funding costs and AI cyber threats intensify.
Indian financial system remains resilient, supported by strong bank and non-bank balance sheets, with gross non-performing assets at a multi-decadal low of 1.8 per cent as of March 2026. The report flags funding challenges from a shift away from low-cost deposits to higher-cost liabilities, rising external risks from geopolitical tensions and commodity price pressures, and AI-enabled cyberattacks as the most important near-term bank cyber threat.
June 30, 2026
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Foreign contribution compliance becomes fully digital as the revamped FCRA portal streamlines verification, monitoring and online filing processes.
A revamped online FCRA portal digitises registration, renewal, annual returns and other foreign contribution compliance processes, while incorporating the new amendment rules and enabling real-time monitoring through integrated database verification. A separate e-OCI Card provides a fully digital OCI process, online document submission and passport-detail updates without requiring a new booklet for older cardholders.
June 30, 2026
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Government of India monthly accounts show receipts, tax devolution, and expenditure composition up to May 2026.
Government of India's monthly accounts up to May 2026 show consolidated receipts of Rs.7,18,669 crore, including net tax revenue, non-tax revenue, and non-debt capital receipts, with Rs.1,75,557 crore transferred to State Governments as tax devolution. Total expenditure stood at Rs.8,81,023 crore, covering revenue and capital account spending, including interest payments and major subsidies.
June 30, 2026
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Customs duty exemption on critical petrochemical imports extended to support supply chains and domestic availability.
Full Customs Duty exemption on imports of critical petrochemical products has been extended until 15 July 2026 as temporary and targeted relief in view of the conflict in West Asia and disruptions in global supply chains. The extension is intended to ensure sufficient availability of petrochemicals in the domestic market, with the list of covered products unchanged from the earlier notification. The exemption is expected to support sectors dependent on petrochemical feedstock and intermediates and provide relief to consumers of final products.
June 30, 2026
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Trans-border gold smuggling and cryptocurrency financing exposed after concealed foreign-origin gold was recovered from a courier consignment.
Trans-border gold smuggling operation involving foreign-origin gold concealed in an international courier consignment declared as "worn gear" was intercepted by the Directorate of Revenue Intelligence. Examination of the consignment led to recovery of foreign-origin smuggled gold hidden inside gear parts, and subsequent searches at the residence of the intended recipient and the alleged mastermind yielded additional concealed gold pieces. Four persons, including the alleged mastermind and a foreign national, were arrested, and preliminary investigation indicated use of cryptocurrency to finance the smuggling network.
June 30, 2026
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Economic growth resilience improves as supply chain normalisation, capital inflows and policy support offset external shocks and inflation pressures.
The interim peace deal between Iran and the US is expected to support Indian economic growth by easing global turbulence and helping normalise supply chains. High-frequency indicators suggest firm activity, while government support to MSMEs and exports may cushion external shocks. Elevated commodity prices, a weak monsoon and limited fuel price pass-through could pressure inflation, the fiscal deficit and domestic growth, although external sector resilience and stronger capital inflows may mitigate funding constraints.
June 30, 2026
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Financial system resilience strengthened by capital buffers, improving asset quality, and stress-tested banking stability amid AI cyber threats.
Domestic financial system remains resilient, supported by strong bank and non-bank balance sheets, with scheduled commercial banks described as safe and sound and stress tests showing capital ratios above regulatory thresholds even under adverse scenarios. Non-banking financial companies are also financially sound, while AI-enabled cyberattacks are identified as the most important near-term cyber threat.
June 30, 2026
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GST appeal filing deadline extended for tribunal appeals after portal pressure and stakeholder representations.
The Government has extended the due date for filing appeals before the Goods and Services Tax Appellate Tribunal under Section 112(1) read with Section 112(3) to 31.07.2026. An earlier notification had fixed 30.06.2026 as the last date for such filings. The extension was issued in response to representations from stakeholders pointing to technical difficulties caused by a surge in filings on the GSTAT portal.
June 30, 2026
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CBDT chairmanship tenure extension on contract basis under re-employment terms and relaxed recruitment rules.
The Union government extended the tenure of the CBDT Chairman, Ravi Agrawal, by six months on a contract basis from 01.07.2026 or until further orders, whichever is earlier. The extension is on the terms and conditions applicable to re-employed central government officers, in relaxation of the Recruitment Rules, for his continued service as Chairman of the Central Board of Direct Taxes.

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BCBA Hosts Landmark Second Edition of The India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai

June 20, 2026

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Over 550 delegates, government leaders and industry stalwarts unite around the vision — “One Fraternity, One Vision: Logistics Driving India Towards Viksit Bharat” Mumbai, 20 June 2026 — The Brihanmumbai Custom Brokers’ Association (BCBA), established in 1939, successfully hosted the second edition of The India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai, drawing more than 550 delegates, invitees and guests from across the customs, ports, shipping, trade and logistics ecosystem. Anchored in the theme “One Fraternity, One Vision — Logistics Driving India Towards Viksit Bharat,” the day-long Conclave brought senior government leadership and industry stalwarts onto one platform to chart the road to a developed India by 2047.

The proceedings began at 09:45 a.m. with the ceremonial inauguration of the CBIC Pavilion, followed by the Inaugural Session. In a defining moment, Shri Vivek Chaturvedi, Chairman, Central Board of Indirect Taxes & Customs (CBIC), delivered the welcome address live online, sharing the Board’s vision for a modern, trust-based and technology-led customs administration — received by the fraternity as a source of great strength and inspiration.

The inaugural dais featured an eminent gathering of dignitaries. These included Shri Yogendra Garg, Member (Customs), CBIC; Shri Anupam Prakash, Joint Secretary, Customs; Shri Sushil Mansing Khopde, IPS, Additional Director General of Shipping; Shri Sunil Jain, IRS, Director General of Valuation; Capt. BVJK Sharma, Chief Executive Officer, Navi Mumbai International Airport; Capt. Deepak Tiwari, Managing Director, MSC India and Chairman, CSLA; Shri Om Hisaria, Senior Executive Vice President, Reliance Industries Limited; and Mr Mukesh Oza, Group President & CEO, Samsara Group. They were joined on the dais by BCBA President Mr Sanjeev Harale and Senior Vice President Mr Paresh Thakkar.

“To see this fraternity stand shoulder to shoulder with the highest offices of government and industry, under one roof and one vision, has been deeply humbling,” said Mr Paresh Thakkar, Senior Vice President, BCBA. “What we have built over two editions is not merely an event, but a platform where the customs broker’s voice is heard, respected and woven into the national agenda. That is the legacy we intend to carry forward.” The intellectual heart of the Conclave lay in its four business sessions, each a moderated plenary of national stature.

Session 1, “India 2030, 2035, 2047 — A Roadmap for Viksit Bharat,” was moderated by Mr Shantanu Bhadkamkar and brought together Shri Yogendra Garg, Member (Customs), CBIC; Mr Shailesh Haribhakti, eminent voice on economy and governance; Capt. Deepak Tiwari of MSC India and CSLA; Dr Prasad Pradhan, senior strategy and resilience advisor; and Mr Rahul Ahluwalia, Director & Co-Founder, Foundation for Economic Development.

Session 2, “Building India’s Digital Spine — Customs & Trade,” was moderated by Mr Dushyant Mulani. The panel comprised Shri Anupam Prakash, Joint Secretary, Customs; Shri Gaurav Dayal, IAS, Chairman, Jawaharlal Nehru Port Authority; Shri Parvinder Singh, Managing Director, Hans Infomatic; Mr Kunal Maheshwari, Director, Softlink Global; Mr Faisal Khan, Foundation for Economic Development; and Mr Amit Kamat, Chairman, FFFAI.

“Custom Brokers are now playing a nodal role in India’s EXIM Logistics, they are quiet backbone of India’s trade, and forums like this one finally give that contribution the recognition it deserves,” said Mr Dushyant Mulani, Immediate Past President, BCBA. “Keeping National interest of being Globally Competitive it is imperative that government and trade sit at the same table as partners to conceptualise further trade facilitation measures to ensure the entire ecosystem moves faster — and that partnership is the real achievement of this Conclave.” Session 3, “Geopolitics and the New Geometry of Trade,” was moderated by Mr Tej Contractor and featured Dr Pritam Banerjee of the Indian Institute of Foreign Trade; Mr Sachin Vijan, Vanguard Logistics Services; Mr Fardeen Malbarwalla, Galaxy Freight; Mr S. Mahesh Mahalingam, Head — EXIM, Larsen & Toubro; and Dr Rumki Majumdar, Director & Economist, Deloitte India.

Session 4, “Policy and Infrastructure — Building India’s Futuristic Logistics Ecosystem,” was moderated by Mr Mihir Parekh of the Foundation for Economic Development, who served as moderator cum panellist. The session brought together Shri Unmesh Sharad Wagh, IRS, Commissioner General, JNCH; Shri Ravish Kumar Singh, IRTS, Deputy Chairman, JNPA; Shri Sagar Rameshrao Kadu, Director (Logistics Division), DPIIT; Dr Rekha Raikar Kumar, Senior Advisor, Land Port Authority of India; and Mr Rajiv Chohan, Aegis Vopak Group.

The Valedictory Session, themed “Logisticians — Building a Better India,” offered an inspiring close. It was led by Mr Dhimant Parekh, Founder & CEO of The Better India — the world’s largest positive-impact storytelling platform — and Mr S. Ramakrishna, Past Chairman of FFFAI, who reflected on conviction, reinvention and the logistician’s role in nation building.

“This Conclave reaffirmed that the customs broker and freight forwarder are not mere facilitators, but true partners in India’s growth story,” said Mr Sanjeev Harale, President, BCBA. “The participation of the highest echelons of government and industry, and the warmth of over 550 delegates, is a powerful testament to the strength of our fraternity and our shared resolve to drive India towards Viksit Bharat.” The Conclave was made possible by the generous support of its partners. The BCBA extends profound gratitude to the Jawaharlal Nehru Port Authority (Platinum Sponsor); Navi Mumbai International Airport and MPRS Shipping (Diamond Sponsors); Softlink Global Private Limited (Gold Sponsor); and Reliance Industries Limited (Silver Sponsor). The Association also acknowledges Parekh Global (Lunch Sponsor); Conex CFS, Polaris CFS and Globicon CFS (Delegate Kit Sponsors); Galaxy Freight (Seat Sponsor); Mumbai Cargo Service Center (Lanyard Sponsor); and Unifo (Hi-Tea Sponsor); and DBS Bank (Banking Partner). The BCBA further thanks our Bronze and Associate Sponsors, along with its Media Partners and supporting organisations, whose collective faith — despite a challenging global environment — was vital to the success of the event.

As the second edition closed, the BCBA expressed deep appreciation to every delegate, dignitary, speaker, moderator and partner who made the day a success. The Association reaffirmed its commitment to serving as a unifying voice for the fraternity and advancing the national conversation on India’s logistics future.

About BCBA: The BCBA, established in 1939, is one of India’s oldest and most respected representative bodies for customs brokers, serving as a unifying voice for the customs, trade and logistics fraternity.

For media enquiries, please contact the BCBA.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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