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    Govt fast-tracks disinvestment process to shore up revenues, garners 31 pc of budget aim in Q1 FY27
    Standard Chartered processes real time remittance payments to India within seconds
    ESDS Software Solution Launches Swaraj Cloud: India’s AI-Autonomous Architect Cloud Platform
    Department of Commerce, Ministry of AYUSH and AYUSHEXCIL Convene Government Industry Brainstorming Session
    MPEDA Concludes Second National Skill Olympiad on Seafood Value Addition at Seafood Expo Bharat 2026
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    Gross and Net GST revenue collections for the month of June, 2026
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    ‘Methyl Isocyanate of Law’: SC quashes verdict based on AI-generated precedents
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    CCI approves acquisition of 100% shareholding of Royal Challengers Sports Pvt Ltd. by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, ...
    CCI approves acquisition of certain shares in Krazybee Services and Finnovation Tech Solutions Private Ltd. by Mars Equity Dragon Fund VCC
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    Andhra clocks 16 per cent growth in tax revenue at nearly Rs 5,000 cr in June 2026
    EU issues new steel, e-commerce regulations to reduce trade imbalance with China
    Punjab's GST collection rises nearly 25 pc in April-June
    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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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.
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
Show AI Summary
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
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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.

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Customs & Trade

Haryana Cabinet approves housing, EV, MSME and governance reforms

July 28, 2026

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Chandigarh, Jul 28 (PTI) The Haryana Cabinet on Tuesday approved a series of decisions aimed at promoting affordable housing, boosting industries, improving governance, strengthening welfare measures and encouraging electric mobility.

In a major relief for beneficiaries of the Pradhan Mantri Awas Yojana-Urban 2.0, the Cabinet, chaired by Chief Minister Nayab Singh Saini, approved a sharp reduction in stamp duty and registration charges for Economically Weaker Section (EWS) beneficiaries purchasing eligible dwelling units of up to 60 square metres.

Under the decision, eligible beneficiaries will pay only Rs 500 as stamp duty and Rs 500 as registration fee per conveyance deed.

At present, stamp duty is charged at 5 per cent along with 2 per cent additional duty, while registration fees are levied on a slab basis.

The government said the move would reduce the financial burden on beneficiaries and support the "Housing for All" mission.

The Cabinet also approved a Bill to establish Kusum International University in Rewari through an amendment to the Haryana Private Universities Act, 2006.

The government said the university would help expand higher education capacity and contribute towards achieving the National Education Policy 2020 target of a 50 per cent Gross Enrolment Ratio.

To improve financial accountability, the Cabinet approved the draft Haryana Local Audit Bill, 2026, which proposes a statutory framework for independent audits of local bodies and institutions receiving public funds.

The Bill empowers the Local Audit Department to issue surcharge notices, seek records and submit audit reports to the State Legislature within fixed timelines.

The government also unveiled the Haryana Progressive MSME and Export Promotion Policy 2026, describing it as the state's most comprehensive policy for micro, small and medium enterprises.

The policy includes 60 initiatives aimed at attracting Rs 55,000 crore in manufacturing investment, creating more than five lakh jobs and doubling the state's exports over the next five years.

It offers incentives such as capital and interest subsidies, credit support, export assistance, common infrastructure, technology adoption and sustainability measures.

The Cabinet approved compensation of Rs 7.5 lakh for the legal heirs of persons who die due to unnatural causes in police custody, including torture, suicide, quarrels among detainees or negligence by police personnel.

Compensation will not be paid in cases of natural deaths, illness, escape attempts or natural disasters.

In torture cases, at least half of the compensation amount will be recovered from the salaries of the guilty police officials.

In another decision, the Cabinet extended 20 per cent horizontal reservation for Haryana domicile ex-Agniveers in recruitment to posts of Fire Operator-cum-Driver, Wildlife Guard, Constable in the Indian Reserve Battalion and State Disaster Response Force.

The government said the move would provide employment opportunities while utilising the skills acquired during military service.

The Cabinet also approved rules under the Haryana Abadi Deh (Vesting, Recording and Resolving of Ownership Rights) Act, 2025, to create legal ownership records for properties in Lal Dora areas.

The rules provide a transparent mechanism for determining ownership and resolving disputes.

To improve revenue administration, the Cabinet amended the Haryana Revenue Patwaris Service Rules.

The mandatory training period has been reduced from 18 months to one year, and trainee Patwaris will now receive a regular salary instead of a stipend.

Their pay scale after successful completion of training has also been upgraded.

The Cabinet approved amendments to the Health Department service rules by creating 22 posts of Senior Radiology Officer and redesignating Radiographers as Radiology Officers.

In a move to encourage women's ownership of vehicles, the government approved a one per cent rebate in motor vehicle tax for non-transport vehicles costing up to Rs 20 lakh and registered in the name of women.

To promote clean transport, the Cabinet approved 100 per cent exemption from motor vehicle tax on new electric two-wheelers, three-wheelers and four-wheelers priced up to Rs 30 lakh.

Electric vehicles costing above Rs 30 lakh will receive a 50 per cent tax exemption, while the existing 20 per cent rebate for CNG vehicles will continue.

The Cabinet also approved the Haryana State Commission for Minorities Bill, 2026, providing for the establishment of a statutory commission to safeguard the rights and welfare of minority communities.

In addition, it relaxed provisions of the compassionate appointment policy to allow three Haryana domicile dependents of martyred Armed Forces and CAPF personnel, who were minors at the time of their parents' death, to be considered for Group-C government jobs after attaining adulthood.

The Cabinet also gave in-principle approval to a new formula-based property tax assessment system for urban local bodies, replacing the existing 2013 mechanism.

The new framework aims to make property tax assessment more transparent and uniform while providing exemptions for religious institutions, government schools and hospitals, agricultural properties and several other categories. PTI VSD MR

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