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    Himachal's first-ever export shipment of cherries and plums reaches Oman
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    CGST Delhi South observes GST Pakhwada 2026 with stakeholder outreach and recognition of excellence
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    July 2, 2026
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    Export quality standards support Himachal Pradesh's first cherry and plum shipment reaching Oman, widening horticulture market access.
    Himachal Pradesh's first export consignment of fresh cherries and plums has reached Oman, marking an initial international market entry for the state's horticulture produce. APEDA's regional office ensured compliance with international quality, grading, packaging and phytosanitary standards, while coordinating farmers, farmer producer organisations, cooperatives, exporters, HPMC, state departments and logistics partners. The development is presented as a step toward better returns for farmers and wider market access for horticulturists.
    July 2, 2026
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    Disinvestment and asset monetisation accelerate as the government boosts non-tax revenues and advances major divestment plans.
    The government has accelerated disinvestment and asset monetisation to augment non-tax revenues amid fiscal pressure, raising about 31 per cent of its full-year target in the first quarter through offer for sale transactions and Infrastructure Investment Trust-based monetisation. It plans to strengthen the divestment pipeline further, with Life Insurance Corporation and IDBI Bank identified as major prospective transactions under the miscellaneous capital receipts framework.
    July 2, 2026
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    Cross-border remittance payments gain near real-time speed as Swift's retail framework enables faster, more transparent transfers to India.
    Cross-border remittance payments to India are being processed through Swift's new retail payments framework with near real-time credit, end-to-end transparency, upfront cost certainty and no hidden foreign exchange deductions. Standard Chartered announced that it processed the first transaction under the scheme, completing the payment end-to-end in 37 seconds and demonstrating that participating banks can send money to India through Swift rails with settlement speed approaching domestic payment systems.
    July 2, 2026
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    Data sovereignty drives the launch of a sovereign cloud platform with built-in compliance, Indian jurisdiction and automated deployment.
    Swaraj Cloud is launched as an AI-autonomous sovereign cloud platform built and operated entirely in India, with servers, storage, networks and workload processing designed to remain under Indian ownership and Indian legal jurisdiction. It is presented as addressing data sovereignty and residency obligations under the DPDP Act, MeitY cloud requirements and RBI cloud guidelines by embedding sovereignty at the infrastructure level. The platform also includes a Prompt-to-Production Solution Generator, compliance mapping, Indian Rupee billing, automated deployment and a broad stack of cloud, AI, security and compliance services.
    July 2, 2026
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    Global competitiveness of the AYUSH sector gains focus through quality assurance, branding, exports and international collaboration.
    Government-industry stakeholders reviewed strategies to strengthen the global competitiveness of the AYUSH sector through innovation, quality assurance, branding, exports and international collaboration. The discussions covered export facilitation, scientific validation, WHO-GMP compliance, the Ayush Quality Mark, regulatory and market access challenges, and the need to expand global recognition for Indian AYUSH products and services. The session emphasised capacity building, international outreach, and alignment of Indian standards with international benchmarks.
    July 2, 2026
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    Seafood value addition skills gain focus as MPEDA promotes training, quality assurance and export-oriented processing excellence.
    MPEDA organised the second National Skill Olympiad on seafood value addition at Seafood Expo Bharat 2026 to promote export-oriented seafood processing skills. The initiative followed 50 training programmes across the east and west coasts, where more than 2,500 workers and professionals were trained in preparing products demanded in international markets. Finalists were assessed on technical skill, hygiene, precision, presentation and product quality, alongside live demonstrations and tasting sessions of value-added seafood products.
    July 2, 2026
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    Mandatory Ship-to GSTIN and voluntary e-Way Bill closure reshape GST compliance, API validations, and delivery recording from August 2026.
    Mandatory capture of Ship-to GSTIN is introduced for Bill-to/Ship-to and combination transactions in e-Way Bill and related e-invoice flows from 1 August 2026, with URP permitted where GSTIN is unavailable. The Ship-to GSTIN is captured only in the backend for verification and audit purposes and is not printed or shared through taxpayer-facing APIs. A voluntary e-Way Bill closure facility is also introduced, allowing closure after delivery by the supplier, recipient, transporter, driver or authorised person, through portal or API, with post-closure actions continuing during the initial stabilisation period.
    July 2, 2026
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    GST revenue collections show higher gross and net inflows, with domestic growth, import gains, and refund adjustments detailed.
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    July 2, 2026
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    Aggregate Annual Turnover amendment window revised on the GST Portal for FY 2025-26 with officer review timelines updated.
    Aggregate Annual Turnover (AATO) functionality on the GST Portal is being upgraded to enable automatic updation of AATO as subsequent returns are filed after the amendment window. For FY 2025-26, taxpayers may submit AATO amendment applications from 1 July to 31 July 2026, and jurisdictional Tax Officers will review amended details from 1 August to 15 August 2026. The revised arrangement is intended to improve consistency, accuracy, and uniformity in AATO reporting.
    July 2, 2026
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    AI-generated precedents and judicial integrity: Supreme Court warns against hallucinated citations and demands human oversight in adjudication.
    The Supreme Court stressed zero tolerance against citing, producing, or relying on fake, non-existent, or hallucinated precedents generated through artificial intelligence, and held that such material contaminates adjudication and undermines the sanctity of judicial decision-making. It said counsel commit misconduct by citing unverified AI-generated judgments, and that a judge's reliance on hallucinated material is an equally serious lapse. The Court also called for accountability measures and human oversight in the legitimate use of AI as an aid to adjudication.
    July 2, 2026
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    Money laundering probe over alleged CMRL-Exalogic transactions expands under PMLA amid payments without services and loan defaults.
    Enforcement Directorate questioned the executive director of Cochin Minerals and Rutile Ltd. in a money laundering probe concerning alleged financial transactions between the company and Exalogic Solutions Pvt Ltd. The investigation concerns allegations that CMRL made payments without receiving corresponding services, and that related loan transactions were defaulted, forming the basis for examination of possible proceeds of crime under the Prevention of Money Laundering Act. The case was registered on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    July 2, 2026
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    Aadhaar update drive for students continues as education department says benefits and admissions will not be
    Students in Maharashtra with non-updated Aadhaar records are being covered under an ongoing school-level registration and authentication drive, and the education department has stated that no student is to be deprived of government scheme benefits or educational opportunities because of pending Aadhaar updates. The minister said that around 5.5 lakh students up to 18 years of age had pending Aadhaar updates as of May 2026, but denied that this was affecting school admissions, scholarships, DBT access, examination forms or bank account linking.
    July 2, 2026
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    Competition approval for consortium acquisition of Royal Challengers Sports and its cricket franchise operations
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    July 2, 2026
    Show AI Summary
    Competition Commission approval for share acquisition in Krazybee Services and Finnovation Tech Solutions by Mars Equity Dragon Fund VCC.
    The Competition Commission of India approved the acquisition of certain shares in Krazybee Services Limited and Finnovation Tech Solutions Private Limited by Mars Equity Dragon Fund VCC. The proposed combination concerns Krazybee, a non-deposit taking non-banking financial institution and middle layer Investment and Credit Company, and Finnovation, the technology company that operates the KreditBee app and provides loan sourcing and payment-service access, including Unified Payments Interface facilities.
    July 2, 2026
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    Competition approval for infrastructure investment trust acquisition and unit issuance in highway project vehicles.
    Competition approval was granted for a proposed combination involving the acquisition of shareholding in seven special purpose vehicles by Anantam Highways Trust, an infrastructure investment trust, together with the issuance of units of the trust to Build India Infrastructure Fund, Dilip Buildcon Limited and DBL Infraventures Private Limited. The transaction covered the SPVs connected with highway and expressway projects, and the parties were described by reference to their roles in infrastructure investment, engineering and construction, and related project development activities.
    July 2, 2026
    Show AI Summary
    Competition law approval for acquisition of shareholding in an alternative asset management company by a global asset manager.
    Competition law approval was granted for a proposed combination involving the acquisition of certain shareholding in Nippon Life India AIF Management Limited by DWS Group GmbH & Co. KGaA. The target is engaged in alternative asset management and acts as an investment manager and/or sponsor to SEBI-registered alternative investment funds, and is also registered as a co-investment portfolio manager.
    July 1, 2026
    Show AI Summary
    Tax revenue growth and AI-driven enforcement strengthen revenue mobilisation, with net GST and IGST settlements rising sharply.
    State tax revenue recorded strong year-on-year growth in June 2026, with total collections rising to nearly Rs 5,000 crore and net GST increasing to Rs 3,144 crore. Commercial taxes for the first quarter of FY27 also increased substantially compared with the corresponding period of the previous year, led by growth in net GST and VAT on petroleum products. The revenue performance was attributed to improved tax compliance, stronger enforcement, enhanced revenue monitoring and broader economic activity.
    July 1, 2026
    Show AI Summary
    E-commerce customs duty and steel import quotas mark the EU's push to curb unfair competition and protect industry.
    The European Union introduced new trade measures to address the surge in low-value e-commerce imports and protect domestic industry from unfair competition. The package removes the de minimis customs duty exemption for parcels valued below 150 euros and imposes a new 3 euro customs duty on small packages, while also introducing new steel import rules with tariff-free quotas, a 50 per cent out-of-quota duty, and enhanced traceability requirements for the melt and pour stage of production.
    July 1, 2026
    Show AI Summary
    GST compliance and tax administration drive Punjab's higher revenue collections, faster refunds, and stronger anti-evasion enforcement.
    Punjab's GST revenue showed a substantial rise in the April-June quarter of FY 2026-27, with gross GST and SGST collections reflecting improved compliance, sustained economic activity and stronger tax administration. Timely GST refunds were issued to genuine businesses, while action against tax evasion included penalty recoveries, proceedings against bogus taxpayers for fake invoicing and fraudulent registrations, recovery of long-pending VAT dues through property auction proceedings, and an increase in VAT/CST collections.
    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.

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      Maharashtra govt tables Rs 97,706 cr supplementary demands; Rs 20,552 cr for farm loan waiver

      June 22, 2026

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      Mumbai, Jun 22 (PTI) The Maharashtra government on Monday tabled supplementary demands of Rs 97,706.40 crore, including Rs 20,552 crore for the farm loan waiver scheme, with a net additional burden of Rs 74,817.66 crore on the exchequer.

      Notably, the Opposition has been demanding a complete farm loan waiver with minimal technical conditions. NCP (SP) MLA Rohit Pawar protested earlier this month to press for removal of “stringent” conditions from the farm loan waiver scheme and demand a blanket loan waiver for farmers.

      Chief Minister Devendra Fadnavis tabled the demands in the assembly on the first day of the legislature's monsoon session on Monday.

      Of the total supplementary demands, Rs 13,825.71 crore has been sought for unavoidable expenditure, Rs 66,559.40 crore for programme-related spending, and Rs 17,321.29 crore against expenditure to be supported through funds available under centrally sponsored schemes.

      Despite the gross demands of Rs 97,706.40 crore, the actual financial burden will be Rs 74,817.66 crore due to adjustments and recoveries, an official note released by the government said.

      Among the largest allocations proposed is Rs 20,552 crore for the farm loan waiver scheme - Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana, 2026.

      A provision of Rs 10,007.10 crore has been made towards interest-free loans under the Centre's Special Assistance to States for Capital Investment scheme.

      Another Rs 8,000 crore has been earmarked for repayment of loans and interest liabilities of the Maharashtra State Electricity Distribution Company Ltd (MSEDCL).

      The government has proposed Rs 7,367.32 crore for the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) programme, comprising both central and state shares, and Rs 4,000 crore for payment of electricity bills of government offices through a unified billing system.

      A sum of Rs 3,076 crore has been sought for the AMRUT 2.0 mission (aimed at making cities water-secure and self-sustaining), while Rs 3,000 crore has been set aside for planning and execution of the Simhastha Kumbh Mela.

      The government has also sought Rs 2,722.42 crore towards electricity tariff subsidies for agricultural pumps, powerlooms, textile and industrial consumers and Rs 2,360.06 crore for scholarship schemes covering tuition and examination fees.

      A provision of Rs 2,000 crore has been made for beneficiaries under the Shravanbal Seva State Pension Scheme and Rs 1,874.38 crore for disabled and general category beneficiaries under the Sanjay Gandhi Niradhar Yojana.

      An allocation of Rs 1,734.92 crore has been proposed for honorarium and salaries of anganwadi workers, while Rs 1,100 crore has been earmarked for projects of the Vidarbha Irrigation Development Corporation.

      Other notable provisions include Rs 1,000 crore each for Swachh Maharashtra Abhiyan (Urban) 2.0 and equity contribution to the Maharashtra State Road Development Corporation for the Revas-Reddi coastal highway project.

      The supplementary demands also include Rs 942.50 crore for employment guarantee schemes, Rs 777 crore as equity contribution to district central cooperative banks, Rs 744.45 crore for the Mahatma Jyotirao Phule Jan Arogya Yojana and Rs 600 crore for the development and commercial complex plan around the Shri Vitthal-Rukmini temple precinct in Pandharpur.

      Department-wise, the highest supplementary allocation of Rs 22,015.42 crore has been proposed for the Cooperation, Marketing and Textiles Department, followed by the Urban Development Department with Rs 15,152.43 crore and the Industries, Energy, Labour and Mining Department with Rs 14,760.48 crore.

      The Finance Department has been allocated Rs 9,934 crore and the Planning Department Rs 9,539.03 crore.

      The Public Works Department is set to receive Rs 5,361.90 crore, while allocations of Rs 3,481.01 crore and Rs 3,061.26 crore have been proposed for the Social Justice and Special Assistance Department and Public Health Department, respectively, according to the government. PTI MR GK

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