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.

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.

GST revenue collections show higher gross and net inflows, with domestic growth, import gains, and refund adjustments detailed.
Gross and net GST revenue collections for June 2026 were reported with a breakup of domestic revenue, import revenue, refunds, and net revenue. Gross GST revenue rose on a monthly and yearly basis, driven by higher domestic collections and stronger import-side IGST collections, while refunds were separately shown for domestic supplies and export-related refunds through ICEGATE. Net GST revenue was also presented after deducting refunds, and the figures were noted as provisional and subject to finalisation.

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.

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.

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.

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.

Competition approval for consortium acquisition of Royal Challengers Sports and its cricket franchise operations
The Competition Commission of India approved the acquisition of 100% shareholding of Royal Challengers Sports Private Limited by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II and other investors. The combination involved collective acquisition by the identified acquirers, including newly incorporated investment and sports-related vehicles, and the target's business consists of owning and operating the Royal Challengers Bengaluru franchise and related professional cricket teams.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.