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    Trump threatens 100 per cent tax on European imports if countries impose tax on digital services
    Two held for selling farmland using forged documents in Akola
    UP: Unnao student receives Income Tax summons for Rs 20.98 cr transactions
    CM Shivakumar warns excise officials against tarnishing govt image
    Uttarakhand exports five metric tonnes of rainbow trout to Nepal in first int'l shipment
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    DRI busts gold smuggling syndicate; seizes 15 kg foreign origin gold in operations at multiple locations; 15 persons arrested.
    DRI seizes 2 kg cocaine consignment in Surat; One held
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    BEML secures additional export order worth USD 5.35 million from West Asia
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    DPIIT Notifies Transition Facilitation (Quality Control) Order, 2026 to Strengthen Supply Chains and Facilitate Industry Compliance.
    Development meaningful only with cultural confidence, civilisational awareness: V-P
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    June 26, 2026
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    Tariff threat over digital services taxes escalates pressure on countries taxing American technology companies abroad.
    A threatened tariff response targets countries that impose digital services taxes on United States companies, with the stated aim of deterring foreign taxation of American technology businesses. The measure is described as applying broadly to imports from countries adopting such taxes and as overriding previously negotiated trade arrangements. The text also notes that digital services taxes remain a trade sticking point and that the issue has been examined through United States trade investigations.
    June 26, 2026
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    Forgery and cheating in farmland sale exposed after identity mismatch and failed fingerprint verification during registration.
    Forgery and cheating were alleged in a farmland sale where a person purportedly posed as the recorded owner using a forged Aadhaar card and false identity particulars. Fingerprint verification did not match UIDAI records during registration, but the process was completed with a thumb impression in ink and cheques were handed over. The buyer later discovered the mismatch, contacted the genuine owner, and learnt that the transaction was fraudulent.
    June 26, 2026
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    Identity document misuse linked to income tax summons raises allegations of fake business transactions and fraud.
    Income tax summons issued under Section 131(1A) concerned alleged income and business transactions linked to a Delhi-based firm said to have misused the student's Aadhaar and PAN cards. The student denied any knowledge of the firm or related transactions, stated that neither she nor her family had set up such a business, and said she had responded to the department while also filing a grievance and seeking a police investigation into the alleged fraud.
    June 26, 2026
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    Tax enforcement and departmental discipline dominate as Karnataka directs stronger anti-evasion checks, coordination, and action against fake invoicing.
    Karnataka's Chief Minister directed excise officials to maintain departmental dignity, act cautiously, and avoid conduct that could tarnish the government's image, while warning that transfers to other departments and legal changes may be considered if necessary. He also referred to the AIB system, e-auction of new licences, and instalment-based renewal payments. In the Commercial Taxes department, he stressed strict prevention of tax evasion, border-document checks, coordination with neighbouring states, and action against fake invoices, bogus companies, and false Input Tax Credit claims.
    June 26, 2026
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    Rainbow trout export drive boosts Uttarakhand's fisheries sector with cold-chain support, gap funding and new overseas market plans.
    Uttarakhand's fisheries sector has entered the international seafood market through its first commercial export of rainbow trout to Nepal, supported by state assistance to cooperative societies in Pithoragarh district. The consignment was moved through a cold-chain processing route, and the fisheries department provided gap funding for harvesting, packaging, and transport to facilitate the export. The state is now examining additional export markets in Europe, West Asia and South-East Asia.
    June 26, 2026
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    Transformational growth shapes India-UK trade partnership as CETA and social security coordination widen cross-border business opportunities.
    India-UK CETA is framed as a broader bilateral trade framework focused on transformational growth, sectoral expansion and deeper economic cooperation beyond tariffs and rules of origin. The Double Contribution Convention is described as applying to temporary workers for five years and redirecting contributions into Provident Fund savings in India. The article also stresses implementation preparedness, tourism promotion and greater SME participation in trade delegations.
    June 26, 2026
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    Foreign-origin gold smuggling syndicate exposed through airport-linked operations, concealed carriage, melting facilities and multiple arrests.
    A coordinated crackdown on a foreign-origin gold smuggling syndicate operating through airports led to the detection of a gold melting facility used to process smuggled gold. The operation exposed a layered smuggling chain involving airport staff, handlers, intermediaries, a melting facility operator and persons engaged in the melting process, with arrests made across the network and seizure of gold recovered at the facility. Separate operations at Bengaluru and other airports, railway stations and land customs stations led to further recoveries of smuggled gold and additional arrests.
    June 26, 2026
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    Anti-narcotics enforcement targets cocaine trafficking through coordinated seizures, concealment methods, and arrests under the NDPS Act.
    The Directorate of Revenue Intelligence reported a coordinated anti-narcotics operation in which 2 kg of cocaine was seized in Surat and one person was arrested under the NDPS Act, 1985 in connection with illicit trafficking. The release states that, since May 2026, DRI operations across multiple transport and logistics hubs have resulted in the cumulative seizure of approximately 26 kg of cocaine and the arrest of 22 persons, including 14 foreign nationals. The release also describes trafficking methods involving ingestion, concealment in household and edible items, fabrics, and baggage.
    June 26, 2026
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    Foreign exchange reserves composition shifts as gold holdings rise and foreign currency assets decline in weekly RBI data.
    India's foreign exchange reserves were reported to have risen during the week ended 19 June 2026, with the overall reserve position increasing despite a decline in foreign currency assets. The movement was driven by a substantial increase in gold reserves, offsetting the fall in foreign currency assets, while Special Drawing Rights and the reserve position with the IMF showed marginal declines. The reporting also noted that foreign currency asset values are influenced by changes in non-US currencies held in reserves.
    June 26, 2026
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    Digital procurement adoption among MSMEs rises as GST-compliant invoicing, supplier visibility and price comparison gain importance.
    Digital procurement is increasingly being adopted by MSMEs as a response to long-standing offline procurement frictions, including limited price discovery, supplier management difficulties, invoice non-compliance, payment and credit constraints, and price volatility. The reported drivers of adoption include wider product selection, easier supplier comparison, centralised spend visibility and GST-compliant invoicing, with B2B digital marketplaces expected to see greater use among MSMEs over the next two years.
    June 26, 2026
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    Citizenship proof rules face calls for reform as passport and Aadhaar are urged to become conclusive identity documents.
    A public debate on citizenship documentation has prompted calls for a legislative overhaul of the legal framework governing proof of Indian citizenship. The stated position is that both an Indian passport and Aadhaar should be treated as valid and conclusive proof of citizenship unless expressly cancelled or withdrawn by the State. The discussion also notes the existing legal distinction that a passport is a travel document and not conclusive proof of citizenship, while Aadhaar is issued on the basis of local residence rather than nationality.
    June 26, 2026
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    Credit score monitoring through secure online verification helps consumers track credit health and make informed borrowing decisions.
    Digital access to credit information is presented as a convenient and secure way for consumers to understand their credit profile and manage financial planning. The Credit Pulse Report allows users to check their credit score online through a verification-based process using a registered mobile number, OTP authentication, and basic personal details, after which the score and credit report insights become available. Regular credit monitoring is described as useful because it helps individuals stay aware of their credit standing, identify inaccuracies, and maintain responsible credit behaviour.
    June 26, 2026
    Show AI Summary
    Heavy earthmoving equipment export order expands BEML's West Asia presence with lifecycle support and safety-focused design.
    BEML Ltd. secured an additional export order from West Asia for supply of heavy earthmoving equipment, continuing an earlier export contract. The equipment is engineered for mining, infrastructure development and strategic construction use, with design features aimed at demanding operating conditions and compliance with stringent international quality standards. The machines include ROPS/FOPS-certified operator cabins for safety and comfort, and BEML will provide maintenance, spares, servicing and lifecycle support through its local representative.
    June 26, 2026
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    Atmanirbhar Bharat drives entrepreneurship, exports, and farmer empowerment through global market expansion and business mentoring.
    Promotion of Atmanirbhar Bharat is presented through entrepreneurship, export expansion, and social empowerment. The article describes efforts to support Indian entrepreneurs, MSMEs, startups, and farmers by promoting Indian products in overseas markets, strengthening the export ecosystem, creating employment, and improving farmer income through export-oriented initiatives. It also highlights mentoring, trade consulting, global market expansion, and capacity-building programmes linked to business growth and nation building.
    June 26, 2026
    Show AI Summary
    Indian mango export promotion highlighted Iceland market potential, quality assurance efforts and trade opportunities under India-EFTA partnership.
    Indian mango promotion events were held in Reykjavik and Akureyri by the Embassy of India in Iceland and APEDA, marking the first such events in Iceland. The programme showcased premium mango varieties, including Dasheri, Chausa, Langra and Kesar, and highlighted India's mango production strength, export potential, quality assurance measures and international promotion efforts. The events also noted opportunities for greater imports of Indian mangoes into Iceland under the India-EFTA Trade and Economic Partnership Agreement.
    June 26, 2026
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    Treasury bill auction calendar sets indicative quarterly issuance dates, amounts, and flexible adjustment terms for market conditions.
    Treasury Bill auction calendar for the quarter ending September 2026 sets out the scheduled dates of auction and issue for 91-day, 182-day and 364-day Treasury Bills, with indicative amounts notified for each weekly auction during July to September 2026. The Government of India and the Reserve Bank of India may modify the indicated amount and timing depending on requirements, market conditions and other relevant factors, after due notice to the market. The calendar is subject to change for intervening holidays and other circumstances, and auctions remain governed by the applicable general notification, as amended from time to time.
    June 26, 2026
    Show AI Summary
    Processed food exports gain momentum as APEDA facilitates the first biscuit shipment from Varanasi to Oman.
    APEDA facilitated the export of a 40 metric tonne consignment of biscuits from Varanasi to Oman, described as the first such shipment from the city following the India-Oman Comprehensive Economic Partnership Agreement. The consignment was undertaken by a Varanasi-based manufacturer-exporter and reflects the growing export potential of processed food products from eastern Uttar Pradesh, supported by APEDA's export promotion efforts and the CEPA framework for greater market access.
    June 26, 2026
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    Export promotion strategy gains momentum as councils are urged to target new markets, new products and faster trade facilitation.
    Export promotion councils and industry associations were urged to support a coordinated export expansion strategy under the Export Promotion Mission by identifying new markets, new products and practical proposals that can improve India's export performance. The interaction stressed working with the Government to leverage trade agreements, strengthen market access and translate budgetary support into measurable export growth through focused outreach, facilitation and last-mile delivery. Trade facilitation measures included a fixed schedule for statutory and facilitation committee meetings, faster disposal of cases and timely issuance of meeting minutes. The Export Promotion Mission also covered export factoring, credit guarantees for e-commerce exporters, collateral support for export credit, export warehousing and logistics, certification support, trade intelligence and market access, with refined interventions reflecting industry feedback.
    June 26, 2026
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    Quality control compliance framework enables flexible sourcing, rewards sustained adherence, and supports innovation and supply chain resilience.
    The Transition Facilitation (Quality Control) Order, 2026 introduces an alternative risk-based compliance mechanism intended to support industry transition while maintaining quality assurance and consumer protection. It permits domestic industry to procure supplies from manufacturers holding Scheme II licences under the Bureau of Indian Standards framework, instead of Scheme I, subject to technical capability, compliance history and commitment to technology advancement, design and research, innovation and domestic supply chain strengthening.
    June 25, 2026
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    Cultural preservation and civilisational awareness shape meaningful development, with heritage, music and traditions treated as national priorities.
    Cultural preservation is presented as an integral aspect of national development, with emphasis on protecting India's languages, music, customs, traditions and traditional knowledge systems as living expressions of collective memory and shared civilisational identity. The preservation of the Koch Rajbanshi community's cultural legacy and Bhawaiya folk music is highlighted as an example of documenting and bringing regional heritage into the mainstream, while younger generations are urged to use technology to safeguard cultural resources.

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      Kerala Assembly: LDF boycotts proceedings over Finance Bill’s Subject Committee bypass

      July 1, 2026

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      Thiruvananthapuram, Jul 1 (PTI) The Opposition LDF on Wednesday boycotted Kerala Assembly proceedings after the Speaker rejected its objection to the government taking up the Kerala Finance Bill—which proposes a sharp cut in taxes on certain liquor products—without referring it to the Subject Committee.

      The protest came after Chief Minister V D Satheesan moved the Bill for consideration.

      The LDF argued that the Bill should have undergone detailed scrutiny by the Subject Committee before being brought before the House.

      Former finance minister K N Balagopal raised a point of order, saying the Bill had been brought "in great haste" and dealt primarily with liquor policy.

      "Normally, a Finance Bill of this nature should be referred to the Subject Committee. That did not happen in this case," he said, adding, "almost all the major provisions in it relate to liquor. There are hardly any other significant provisions." He said members had been assured that such an important proposal would be implemented only after detailed discussions, but that commitment had not been honoured.

      Balagopal argued that bypassing the committee undermined the legislature's role.

      "Bringing this Finance Bill directly before the House without giving the Subject Committee an opportunity to examine it undermines the rights of the legislature. It reflects an approach that discourages discussion rather than encourages it," he said.

      He questioned the substance of the Bill, saying it proposed amendments to the Kerala GST Act, including a 120 per cent levy in certain categories, and dealt with a policy that had been under discussion for nearly three years.

      According to Balagopal, although the previous LDF government had examined similar proposals, it had consciously decided not to implement them, arguing that any change in excise policy should first be debated at the policy level.

      Satheesan rejected the objections, saying all legal and procedural requirements had been followed.

      He said the Bill was being taken up on the basis of a report of the Business Advisory Committee approved by the Assembly on June 24, 2026.

      "When the House considered and approved the BAC report, not a single amendment was moved. The BAC included party leaders, including the honourable member himself. The decision was taken by the BAC. There was no objection at that stage," Satheesan said.

      The CM rejected the Opposition's contention that the Bill should have been referred to the Subject Committee, asking whether the Finance Bill introduced on February 24, when the Left was in power, had been referred to the committee.

      "If he wants to make political arguments or level allegations, he is free to do so during the debate on the Bill. But there is no legal basis for the objection he has raised," the CM said.

      After the Speaker rejected the procedural objection, Leader of the Opposition Pinarayi Vijayan accused the government of pushing through a major policy change without adequate discussion.

      Vijayan said the Opposition had initially agreed to the proposal at the BAC meeting because it had been informed that there would be no major changes to the Bill.

      "None of us realised that such an important matter was being brought in this manner," he said. "It was only after we understood the implications that we registered our strong objection." Vijayan said the previous LDF government had only discussed promoting fruit wine made from locally produced agricultural products to benefit farmers and small industries, but had never taken a final decision.

      "What is being done is entirely different. Instead of supporting local producers, the government is giving large liquor companies the freedom to market their products by substantially reducing taxes," Vijayan said.

      He alleged that the proposed tax reduction exceeded 130 per cent and questioned why the government was insisting on implementing the measure despite the Opposition's objections.

      Calling the move "unacceptable", Vijayan announced that the LDF would boycott the Assembly proceedings in protest against both the decision and the manner in which the Finance Bill had been brought before the House. PTI LGK SSK

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