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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.
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.
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
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.
July 2, 2026
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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
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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
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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
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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
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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.
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.

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ESDS Launches Swaraj Nandi and Swaraj Hansa, Two Sovereign Enterprise Security Platforms Built Entirely in India

July 16, 2026

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Two of the most exploited weaknesses in enterprise security, unwatched privileged access and unread security alerts, get closed at once, by a platform built for governance and a platform born inside a live security operations centre. Launched in the presence of economist and Swadeshi Jagaran Manch National Co-Convener Dr. Ashwani Mahajan.
Mumbai, India, 16th July 2026: - ESDS Software Solution Limited, a sovereign cloud and data centre provider in India, today announced the general availability of two enterprise-grade platforms built entirely on Indian soil: Swaraj Nandi, a Privileged Access Management (PAM) platform that governs the credentials, sessions and audit trails behind an organisation's most sensitive systems and Swaraj Hansa, an AI-powered autonomous SIEM platform designed to close the gap between threat detection and action. Together, the two launches address the two failure points that consistently sit at the centre of enterprise security incidents in India: who has access to what and who is watching what happens once they have it. The launch was held in the presence of Dr. Ashwani Mahajan, National Co-Convener of the Swadeshi Jagaran Manch and noted Indian economist, as chief guest.


Swaraj Nandi and Swaraj Hansa join Swaraj AIOPS, Swaraj Garuda and Swaraj Jatayoo as the newest members of ESDS's portfolio of indigenous enterprise technology platforms, each engineered, built and supported entirely on Indian soil. Taken together, the platforms reflect a deliberate, sustained programme to build the security and infrastructure layer Indian enterprises depend on from within India, rather than import it.


Swaraj Hansa did not begin as a product idea. It began inside ESDS's own security operations centre, where analysts were living with the exact problem the platform now solves for clients: alert volumes no team can keep pace with, detections that arrive without an explanation attached and every new data source meaning weeks of manual rule-writing before it is even usable. Swaraj Hansa was built by the people who felt that pain first, to fix it for themselves, before ESDS decided to bring it to market.


Dr. Ashwani Mahajan, National Co-Convener, Swadeshi Jagaran Manch, said:
"India has demonstrated on the global stage that we have built world-class capabilities in defence, space and digital public infrastructure. The next frontier is digital sovereignty. As we strengthen our indigenous cloud, AI, and cybersecurity ecosystems, we are not only reducing strategic dependence but also creating globally competitive technologies. As we continue to build indigenous digital infrastructure, our cloud, data, and critical technologies must remain under India's control. Only through self-reliance in digital infrastructure can we secure India's technological future and emerge as a trusted global technology leader. This is the commitment required to build a truly self-reliant Digital India”.


— Dr. Ashwani Mahajan, Economist & National Co-Convener - Swadeshi Jagaran Manch
Piyush Somani, Promoter, Managing Director and Chairman, ESDS Software Solution Limited, said:
“Every organisation we serve banks, government bodies, hospitals, large enterprises carry the same exposure, in two forms. Somewhere inside its infrastructure sits a handful of credentials that, in the wrong hands, unlock everything. And somewhere in its security operations, a signal is arriving that no one has the time to notice. Both risks have historically been managed the same way: informally, and on trust alone. That is no longer adequate for the systems India now depends on.”
“Swaraj Nandi addresses the first. Every credential is vaulted, rotated and governed under Zero Trust principles. Swaraj Hansa addresses the second and it was built with the discipline of people who have worked inside a security operations centre themselves, not designed at a distance from the problem. What both platforms share is a conviction we hold across our portfolio: that India's most sensitive infrastructure deserves security that is built, owned and accountable within India.”
Piyush Somani, Promoter, Managing Director and Chairman, ESDS Software Solution Limited
Two Gaps, One Root Cause
On privileged access, the failure is silence: no session audit trail to answer who accessed which system and when, credential sprawl across servers and databases left unmanaged, no kill-switch to terminate a session once it turns malicious and vendor access granted with no accountability once an engagement ends.


On security operations, the failure is noise: analyst teams buried under alert volumes with no reliable way to separate signal from real threat, a nationwide shortage of Tier-1 analysts to triage what comes in, weeks of manual work to onboard every new data source and a deepening distrust of AI-driven detection that cannot explain its own decisions.


Tightening RBI, SEBI, IRDAI and PCI-DSS mandates now expect auditable, real-time control over both a bar most enterprises currently have no way to clear.


"India's digital leadership will ultimately be defined by the technologies we create, own and govern ourselves. The emergence of sovereign digital platforms reflects the maturity of India's innovation ecosystem. Initiatives by our BDIA members like ESDS are enabling the nation's Digital Sovereignty vision while laying the foundation for trusted, resilient and globally competitive digital infrastructure."
— Mr. Abhishek Bhatt, Secretary General - Bharath Digital Infrastructure Association (BDIA)
Swaraj Nandi
Swaraj Nandi functions as a single control plane for privileged credential management, session governance and compliance reporting, deployable entirely on-premise or within a private cloud, with no agents required on target systems and no dependency on foreign cloud infrastructure. The platform vaults and automatically rotates every privileged credential root passwords, service accounts, API keys, SSH keys and database credentials so that no human ever sees a production password in plain text. Every privileged session runs through a Zero-Trust session manager requiring explicit approval and multi-factor authentication, with no standing privileges. Every session is recorded down to the keystroke in a tamper-resistant, searchable audit trail, and built-in behavioural analytics flag anomalous commands before damage occurs.


Swaraj Hansa
Swaraj Hansa is an AI-powered autonomous SIEM platform built on a simple premise: AI-driven detection, human-owned decisions. Where Swaraj Nandi governs access, Swaraj Hansa governs visibility collecting, correlating and triaging security signals across an organisation's infrastructure and closing the gap between detection and action rather than stopping at another dashboard of unread alerts. Every alert Hansa surfaces arrives with a plain-language explanation of why it was flagged, so an analyst can act on it rather than take a black-box score on faith. New data sources are onboarded through a guided, largely no-code setup instead of weeks of custom rule-writing and repetitive triage and reporting work runs on autopilot so analysts spend their time on the alerts that actually need a human judgment call. The platform continuously monitors its own health, runs in a high-availability configuration with no single point of failure and is built to operate standalone in an air-gapped or private-cloud environment for organisations that cannot depend on foreign infrastructure a requirement Swaraj Hansa was designed around from day one, not retrofitted for later.


Komal Somani, Whole-time Director, CMO and CHRO, ESDS Software Solution Limited, said:
“Trust inside an enterprise has always been an assumption rather than a control, and that is precisely what a privileged access breach or a missed security alert relies on. It is rarely a stranger breaking in and rarely a total absence of warning. It is someone already inside doing something no one was watching for, or a signal that fired and was lost in the volume. Swaraj Nandi and Swaraj Hansa are not built to make organisations trust less. They are built to give them something to verify.”
Komal Somani, Whole-time Director, CMO and CHRO, ESDS Software Solution Limited
Regulatory Compliance Architecture
Both platforms' compliance architecture is mapped directly to the frameworks governing India's most regulated sectors including the RBI IT Framework, SEBI's CSCRF, the DPDP Act, PCI-DSS v4.0, ISO 27001 and NIST CSF. Swaraj Nandi's access approval workflows, session recordings, credential rotation logs and risk-scoring reports, alongside Swaraj Hansa's alert triage records and audit trails, are structured to satisfy each framework's specific audit and incident-reporting requirements giving organisations a direct path to compliance on both access governance and security monitoring without building custom infrastructure for either from scratch.


Availability
Swaraj Nandi and Swaraj Hansa are available with immediate effect across On-Premise, Private Cloud and as-a-Service deployment models. Swaraj Nandi supports Linux and Windows servers, PostgreSQL, MySQL, MSSQL, Oracle, and Cisco and Juniper network devices. Swaraj Hansa is built to deploy standalone, including in air-gapped environments, for organisations that require full data sovereignty over their security operations. ESDS is offering structured POC and pilot engagements for qualified organisations across banking, government, insurance, healthcare and large enterprise sectors. Enterprises may request a technical demonstration or compliance assessment consultation through ESDS's enterprise engagement team.


About ESDS Software Solution Limited
ESDS Software Solution Limited is a sovereign cloud and managed services provider in India, offering cloud, data centre, GPU infrastructure and enterprise security solutions. The company operates Tier III certified data centres across India and serves clients across BFSI, government, healthcare, manufacturing and technology sectors. Swaraj Nandi and Swaraj Hansa are the latest releases under ESDS's ongoing product development programme and are part of the company's broader Swaraj portfolio of purpose-built enterprise security, observability and AI operations platforms.


For more information, visit www.esds.co.in
Important Disclosure
ESDS Software Solution Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the Company at www.esds.co.in, the website of SEBI at www.sebi.gov.in, as well as on the websites of the Book Running Lead Managers, DAM Capital Advisors Limited and Systematix Corporate Services Limited, the website of the National Stock Exchange of India Limited at www.nseindia.com, and the website of BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Red Herring Prospectus which may be filed with the Registrar of Companies, Maharashtra at Mumbai - II, in future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.


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

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