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    Bengal seeks to leverage India-UK CETA, eyes export boost for labour-intensive sectors
    Kolkata flags off first jewellery exports to UK under CETA
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July 15, 2026
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India-UK CETA tariff elimination strengthens export prospects for labour-intensive leather, jute, jewellery and agricultural products in British markets.
India-UK CETA tariff concessions are expected to improve West Bengal's export competitiveness in the United Kingdom. Duty-free access applies to tea, mangoes and betel leaves, while import duties on jewellery have been removed. Labour-intensive leather, jute, and gems and jewellery sectors are identified as principal beneficiaries, with tariff removal also improving seafood export prospects. Further competitiveness measures are proposed to help exporters use the agreement's trade opportunities.
July 15, 2026
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Zero-duty market access under CETA enables Indian jewellery exporters to enter overseas markets without import tariffs.
Zero-duty access under the India-UK Comprehensive Economic and Trade Agreement enables eligible Indian gem and jewellery exports to enter the United Kingdom market without UK import tariffs. The agreement is expected to improve market access and support value-added manufacturing, employment, skill development, and the participation of artisans, micro, small and medium enterprises, and exporters in West Bengal's gem and jewellery sector.
July 15, 2026
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UK-India trade agreement introduces wider market access, tariff reductions and social security arrangements to support bilateral commerce.
The UK-India Comprehensive Economic and Trade Agreement has entered into force, providing expanded market access, tariff reduction and trade facilitation. India receives zero-duty access for nearly all exports to the UK, while UK products entering India receive duty-free or reduced-tariff treatment. The framework covers goods including textiles, leather, engineering products, food, cosmetics, alcoholic beverages and premium cars. A bilateral social security agreement has also been operationalised to support wider commercial engagement.
July 15, 2026
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Data governance expectations propose stronger lifecycle controls, quality standards, accountability and third-party data-sharing safeguards for regulated financial entities.
Draft regulatory guidance on data governance proposes expectations for regulated financial entities to maintain data that is accurate, consistent, secure and fit for purpose. The framework addresses data-governance arrangements, defined roles, data architecture, metadata and data lineage, data quality, and third-party data-sharing arrangements. It applies to specified banking entities, financial institutions, non-banking financial companies, asset reconstruction companies and credit information companies, and invites stakeholder feedback on the proposed framework.
July 15, 2026
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Semiconductor and mobile manufacturing incentives support domestic production, component sourcing, design investment, exports and resilient electronics supply chains.
Semicon 2.0 and the Mobile Phone Manufacturing Scheme provide manufacturing support to expand domestic electronics production, exports and local value addition. Semicon 2.0 covers chip design, equipment and materials, fabrication, advanced packaging and testing, research, and talent development, while supporting semiconductor intellectual property and critical-component manufacturing. The mobile-phone scheme provides production-linked incentives linked to eligible sales, with additional support for domestic component sourcing and Indian investment in product design and research. The measures seek to reduce import dependence and strengthen domestic critical-technology capabilities.
July 15, 2026
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India-UK trade liberalisation expands tariff preferences, services access and skilled professional mobility while preserving protections for sensitive domestic sectors.
The India-United Kingdom Comprehensive Economic and Trade Agreement establishes preferential tariff treatment for goods and expands cooperation in services, digital trade, government procurement, investment and professional mobility. India retains protections for sensitive sectors through phased tariff reductions and quota-based access, while duties on British automobiles and alcoholic beverages are reduced in stages. The accompanying social-security convention exempts eligible Indian professionals temporarily assigned to the United Kingdom from simultaneous contributions in both jurisdictions, supporting skilled-worker mobility and reducing employment-related costs.
July 15, 2026
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Railway capacity augmentation strengthens multimodal connectivity, freight movement, operational reliability and lower-emission transport across Odisha and Jharkhand.
Railway capacity augmentation is approved through doubling of the Paradeep-Haridaspur route and construction of a fourth line on the Rajkharsawan-Dangoaposi route. The projects aim to reduce congestion, improve railway operational efficiency and reliability, and strengthen integrated multimodal connectivity. Enhanced capacity is intended to support freight transport of coal, iron ore, dolomite, limestone and gypsum, improve regional and tourist connectivity, promote logistics efficiency, and reduce oil imports and carbon emissions.
July 15, 2026
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Urea investment policy promotes gas-based domestic manufacturing through transparent cost treatment, return-on-equity parameters, and foreign-exchange risk mitigation.
NIPU-2026 provides a framework for investment in new gas-based urea manufacturing units to increase indigenous production and reduce reliance on imported urea. It separates fixed and variable costs for transparency, provides a prescribed return-on-equity band, and mitigates foreign-exchange exposure through conversion of fixed costs into Indian rupees after four years at prevailing exchange rates. The policy supports self-sufficiency through additional domestic urea manufacturing capacity.
July 15, 2026
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Greenfield elevated corridor development strengthens multimodal connectivity, urban decongestion, road safety and pilgrimage access through the Hybrid Annuity Model.
Development of a six-lane greenfield elevated connector corridor between National Highway-19 and the Varanasi Ring Road has been approved under the National Highways (Original) programme through the Hybrid Annuity Model. The access-controlled corridor includes elevated road infrastructure, bridges, loops, ramps, link roads and service roads, and is intended to divert through traffic from congested urban roads. Aligned with the PM Gati Shakti National Master Plan, it integrates road, rail, air and inland-water connectivity while improving access to logistics, religious, educational and cultural destinations.
July 15, 2026
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Hybrid annuity corridor development advances urban decongestion, multimodal connectivity, safer travel and efficient passenger and freight movement.
A predominantly elevated 6/4-lane link and connector corridor along the Varuna River Bank has been approved under the Hybrid Annuity Model. Comprising carriageways, flyovers, loops, ramps and service roads, it will connect NH-31 with the Varanasi Ring Road under the Varanasi Decongestion Plan. The corridor is intended to reduce congestion and travel time, improve safety and freight movement, and strengthen access to transport, economic, social and logistics nodes through multimodal integration.
July 15, 2026
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Personal loan disbursal incentives provide eligible borrowers reward bundles, subject to eligibility conditions, verification, assessment and applicable terms.
Personal loan disbursal incentive campaign offers eligible borrowers an entertainment and lifestyle voucher bundle upon successful disbursal during the specified promotional period. Reward availability is conditional on customer eligibility and applicable terms and conditions. The collateral-free, digitally processed credit facility involves eligibility-based approval, review of loan terms, KYC and bank-account verification, and application assessment before disbursal.
July 15, 2026
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Domestic-demand weakness slows China's economic growth despite export support from artificial-intelligence technology and electric-vehicle demand.
China's economic growth slowed in the second quarter amid weak domestic demand, property-market weakness, subdued consumer confidence and higher energy costs. Export demand, especially for artificial-intelligence technology and electric vehicles, supported foreign trade and industrial production, but underscored reliance on overseas demand. Property investment and new-home prices continued to decline, while youth unemployment remained elevated. Further support measures focused on new infrastructure could be considered as investment growth weakens and systemic risks require management.
July 15, 2026
Show AI Summary
Mobile phone manufacturing incentives link eligible sales, domestic sourcing, design and research support to indigenous brands and expanded production.
The Mobile Phone Manufacturing Scheme establishes a five-year incentive-linked framework for manufacturing mobile phones in India. It provides differentiated incentive support on eligible sales, additional support for domestic sourcing of key components and sub-assemblies, and a further incentive for product design and research and development aimed at building Indian brands. The scheme seeks to expand domestic production and exports, promote technological sovereignty, create patents, support employment, and strengthen domestic value capture in mobile-phone manufacturing.
July 15, 2026
Show AI Summary
Domestic urea investment policy supports new natural gas-based capacity through subsidy-cost separation, assured returns, and foreign-exchange risk mitigation.
National Investment Policy 2026 establishes an investment framework to add domestic natural gas-based urea production capacity and reduce import reliance. Extending the New Investment Policy 2012, it provides for separation of fixed and variable costs for subsidy calculation, assured returns for urea plant companies, and foreign-exchange risk mitigation to support investment in new domestic urea manufacturing capacity.
July 15, 2026
Show AI Summary
India-UK free trade agreement expands zero-duty export access and reduces duties on specified United Kingdom goods.
The India-UK Comprehensive Economic and Trade Agreement entered into force with zero-duty market access for nearly all Indian exports to the United Kingdom. It is expected to support sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods. A bilateral social security agreement has also become operational. The arrangement reduces Indian import duties on specified United Kingdom goods, including Scotch whisky and premium UK-built cars.
July 15, 2026
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Middle East energy export disruption risks raise oil prices and unsettle global equity markets amid renewed conflict.
Middle East energy-export disruption risks increased following renewed conflict and a threatened halt to regional oil and gas exports amid a blockade of Iranian ports. Concerns over the security of shipping through the Strait of Hormuz contributed to higher oil prices and reduced Gulf traffic flows, reflecting the potential for wider interruption of energy transportation. Global equity markets showed mixed movements as investors assessed escalating conflict, oil-supply disruption, inflation data and corporate earnings.
July 15, 2026
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Apricot export facilitation enables overseas market access through exporter-managed supply chains, cold-chain transport, and proposed local processing capacity.
Apricot export facilitation for Ladakh's indigenous Raktsey Karpo and Halman varieties is being implemented through an agreement under which exporters manage harvesting, sorting, grading, packing, transportation and marketing. Administrative measures include transport monitoring, expedited transit arrangements and cold-chain support for perishable produce. A proposed apricot processing unit is intended to improve value addition, address short shelf life and support smoother exports while reducing post-harvest losses.
July 15, 2026
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India-UK trade agreement expands market access, tariff reductions, services trade and professional mobility across identified commercial sectors.
The India-UK Comprehensive Economic and Trade Agreement entered into force as a free trade arrangement intended to expand bilateral market access and promote movement of goods and services. It provides for tariff reductions and supports trade, services and professional mobility. The agreement is expected to create opportunities for businesses, entrepreneurs, farmers, manufacturers, MSMEs and skilled workers, including in textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.
July 15, 2026
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Punitive tariffs for Russian oil purchases could make trade duties a geopolitical mechanism targeting India and other countries.
Proposed United States tariff legislation would impose punitive tariffs on India and other specified countries for purchasing oil from Russia. Certain European countries purchasing Russian gas would be exempted on the stated basis that their purchases are limited and that they are reducing dependence on Russia. If enacted, the measure would expressly authorise tariffs as a geopolitical mechanism directed at countries considered to be financing another nation's war effort.
July 15, 2026
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Strait of Hormuz transit rights remain contested as blockade measures, toll disputes, and hostilities threaten regional energy exports.
Maritime access through the Strait of Hormuz is disputed following the reimposition of a naval blockade, retaliatory threats affecting regional energy exports, and attacks on shipping routes. An interim arrangement had provided for toll-free transit during a limited negotiating period but left the later regulatory position unresolved. One side asserts a right to regulate traffic and potentially levy transit charges, while the opposing position maintains that passage should remain open without tolls. Continuing hostilities and stalled negotiations threaten navigational access and energy trade flows.

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Customs & Trade

Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence

August 4, 2026

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New Delhi, Delhi, India (NewsVoir)
• India’s first commemorative 999.9+ pure recycled gold coin celebrates the nation's 80th year of Independence
• Olympic silver medallist and three-time Commonwealth Games gold medallist Mirabai Chanu becomes the first recipient of the limited-edition MMTC-PAMP Virasat gold coin
Marking the 80th year of India's Independence, MMTC-PAMP, India's only London Bullion Market Association (LBMA) Good Delivery gold and silver refiner, today officially launched MMTC-PAMP 'Virasat- Celebrating 80th Year of India's Independence,' a limited-edition 10g commemorative gold coin crafted entirely from 999.9+ pure recycled gold, at Taj Mansingh, New Delhi. The coin was unveiled by Champion Mirabai Chanu, Olympic silver medallist and three-time Commonwealth Games gold medallist, who also became the first recipient of the commemorative edition in recognition of her extraordinary contribution to Indian sport and her role in inspiring millions of Indians.
Fresh from creating history by becoming the first Indian weightlifter to win three consecutive Commonwealth Games gold medals, Mirabai Chanu embodies the spirit of resilience, perseverance and excellence that has shaped India's journey over the last eight decades. By presenting the inaugural MMTC-PAMP Virasat coin to one of India's most celebrated sporting icons, MMTC-PAMP pays tribute not only to the nation's achievements but also to the individuals whose dedication continues to elevate India's standing on the global stage.


Crafted in 10 grams of 999.9+ fine (24K) recycled gold, the coin features a premium minted finish and is presented in MMTC-PAMP's tamper-proof packaging with certified purity authentication. Limited to only 8,000 pieces, the exclusive edition coin will be available through MMTC-PAMP retail stores, authorised channel partners and the company’s website.
Product Link: www.mmtcpamp.com/shop/gold/10-gm-gold-999-minted-coin-virasat
Speaking on the occasion, Mr. Samit Guha, Managing Director & CEO, MMTC-PAMP said, "As India celebrates the 80th year of Independence, Virasat is our tribute to a nation that continues to inspire the world through its resilience, innovation and achievements. We are honoured to present the first MMTC-PAMP Virasat commemorative coin to Mirabai Chanu, whose remarkable journey embodies the determination and excellence that define modern India. Just as MMTC-PAMP is committed to building a more responsible and self-reliant precious metals ecosystem through sustainable practices such as gold recycling, Mirabai's relentless pursuit of excellence reflects the same spirit of commitment and dedication towards the nation. Through Virasat, we celebrate not only India's glorious past but also the people who continue to shape its future."
The launch reflects MMTC-PAMP's commitment to responsible sourcing while supporting the Government of India's broader efforts to reduce dependence on imported gold, conserve foreign exchange, and advance the Hon'ble Prime Minister's vision of Aatmanirbhar Bharat.


India remains one of the world's largest consumers of gold and imports over 90 per cent of its annual requirement. As demand for precious metals continues to rise, responsible recycling has emerged as a critical pillar in building a resilient and self-reliant ecosystem. By refining and reintroducing existing gold into the formal economy without compromising purity or quality, MMTC-PAMP is helping create a more sustainable supply chain while reducing dependence on imports. India's gold imports touched nearly USD 72 billion in FY2025-26, highlighting the growing importance of strengthening domestic recycling infrastructure.
The launch of Virasat further reinforces MMTC-PAMP's long-term commitment to creating an organised ecosystem for precious metals recycling in India. The company currently operates 17 gold recycling stores across the country and continues to expand responsible recycling infrastructure to make recycling more accessible and transparent.
The product was unveiled in the presence of Mr. Samit Guha, Managing Director & CEO, MMTC-PAMP, along with Mr. Gaurav Nijhawan, Head of Marketing, MMTC-PAMP and Mr Kashish Vasishtha, DGM – Marketing, MMTC-PAMP.
Earlier this year, MMTC-PAMP also introduced the industry's first organised buyback programme for silver coins, bars and jewellery across select retail stores in India. The initiative enables consumers to securely sell their silver holdings through an organised channel while encouraging recycling and supporting a more circular economy for precious metals.
As India enters its ninth decade of Independence, MMTC-PAMP Virasat- Celebrating 80th Year of India's Independence stands as a timeless tribute to the nation's remarkable past, dynamic present and sustainable future. More than a commemorative collectible, the coin celebrates the enduring values of resilience, innovation and responsibility that continue to define India's progress.
Every MMTC-PAMP product undergoes a rigorous purification process to ensure the highest standards of purity and quality. Each product carries a unique identification number and is packaged in an Assayer-certified minted card, assuring authenticity and trust. Additionally, every product purchased from MMTC-PAMP offers positive weight tolerance, ensuring customers receive more than the stated weight and maximum value with every purchase.


About MMTC-PAMP A joint venture between Switzerland-based bullion refinery, MKS PAMP SA, and MMTC Ltd., a Miniratna and Government of India Undertaking. MMTC-PAMP is the only LBMA-accredited gold & silver good delivery refiner in India. The company seamlessly marries Swiss excellence with Indian insights. MMTC-PAMP India Pvt. Ltd. is internationally recognized as an industry leader in bringing global standards of excellence to the Indian precious metals industry.
MMTC-PAMP has received several awards since its inception from local and global industry bodies for Refining, Brand and Sustainability. Notably, MMTC-PAMP is India's First Precious Metals Company to have Science-based Emissions Reduction Targets Approved by SBTI. Recognized by the Asia and India Book of Records, MMTC-PAMP is acclaimed as the country’s only brand providing the purest gold and silver coins and bars with 99.99%+ (999.9+) purity levels and positive weight tolerance to consumers. Adding to its laurels, MMTC-PAMP was honoured as India’s Most Trusted Brand of the Nation at The Brand Story- Indian Brand and Leadership Conclave & Awards, 2024.


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

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