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August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
August 10, 2026
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MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
August 10, 2026
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Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
August 10, 2026
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Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
August 10, 2026
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Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
August 10, 2026
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Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
August 10, 2026
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Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
August 10, 2026
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Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
August 10, 2026
Show AI Summary
Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
August 10, 2026
Show AI Summary
Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
August 10, 2026
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GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
August 10, 2026
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Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
August 10, 2026
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Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
August 10, 2026
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Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
August 10, 2026
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Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
August 10, 2026
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Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.

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Customs & Trade

The US and Canada could pull back from an all-out trade war. It's not clear that they will

August 26, 2026

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Washington, Aug 26 (AP) The US and Canada have ramped up their trade war, hitting each other with steep new tit-for-tat tariffs. Despite the bravado coming from both sides of the border, though, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants.

The prospects for compromise looked bleak Tuesday, with Canadian Prime Minister Mark Carney reacting to new 50% US tariffs on certain Canadian goods by responding in kind on about $20 billion worth of American imports, including steel, dairy products, appliances and farm equipment.

"You're at war when you get attacked. We got attacked,'' Carney, who came to power last year on the promise that he'd stand up to US President Donald Trump, said over the weekend.

Doug Ford, Ontario's populist premier, told The Associated Press on Monday that he was ready to escalate even further by cutting off his province's shipments of electricity and critical minerals to the United States.

Soon after, Trump declared his intention to hammer the Canadian auto industry with another set of import taxes if the Canadians don't “fall in line.'' With the breakdown threatening to harm one of the world's largest trading relationships and clouding efforts to renew the United States-Mexico-Canada Agreement that Trump negotiated during his first term, experts cautioned that there's still time to pull back from the brink of an even bigger trade war.

They've done it before. “If there is political will, there is an off ramp,'' said former US trade negotiator Wendy Cutler.

'It's not real until somebody walks away' ------------------------------------------- US-Canada trade talks typically get testy, said Christopher Sands, who heads the Center for US-Canada Studies at Johns Hopkins University.

The two neighbors have a long history of sparring over things like Canada's protected dairy market and subsidized softwood lumber exports.

“We've gone through this with Canadians before,'' Sands said. “It's almost like it's not real until somebody walks away from the table. ... I'm not panicked.'' There are reasons to think something can be salvaged from the rubble of bilateral trade talks that collapsed Friday.

First, the US tariffs that Trump imposed Saturday cover just $20 billion worth — around 5% — of Canada's exports to the United States and are unlikely to do much lasting economic damage. Oxford Economics reckons the trade conflict would reduce Canadian economic growth only slightly next year — from a previously forecast 1.6% to 1.4%. On Monday, US Trade Representative Jamieson Greer even tried to downplay the trade rift as a “tempest in a teapot.'' Moreover, Carney's retaliatory tariffs wouldn't take effect until Sept. 8. “That gives us this week. It gives us next week,'' Sands said. “Time to take a breather and talk about how to avert'' an all-out trade war.

Despite Trump's tough talk on Truth Social, his punitive auto tariffs wouldn't kick in until Jan. 1 — well after the Nov. 3 midterm elections in which the president's Republican Party is hoping to keep full control of Congress despite voter frustration with the high cost of living.

So there's at least enough time for the countries to find a stopgap solution.

Cutler, now senior vice president at the Asia Society Policy Institute, suggested that the US could tap an emissary that both countries trust to get talks back on track; she recalled that Trump's son-in-law Jared Kushner helped negotiate the USMCA eight years ago.

Canada would likely balk at a one-sided deal ------------------------------------------------ Cutler also noted that Trump suspended his global tariffs for months last year to allow US trading partners to negotiate with him. Many did, including the European Union and Japan, and ended up agreeing to lopsided trade agreements to dodge the worst of Trump's tariffs.

Canadians, though, are in no mood for a Trump-friendly trade deal.

The American president has enraged the Canadian public with inflammatory talk of making their country the 51st US state. And on Tuesday, instead of trying to lower the temperature, he declared that he was considering changing the name of Lake Ontario to Lake America. He has also repeatedly hit Canada with tariffs and threats of them, including when he suggested he might punish Canada for wildfires that were blackening US skies.

“Fighting with Washington is hugely popular in Canada right now,” said Scott Lincicome of the Cato Institute, a Washington-based free-trade think tank. “Guys like Doug Ford — like him, love him or hate him — understand this is a political winner for them.'' The latest US-Canada conflagration flared up last month when Trump said he planned to hit Canada with 50% tariffs. He complained that Canada had been unfairly restricting US exports of dairy, alcoholic beverages and autos. Trump set a deadline of Aug. 19 — last Wednesday — for the two countries to reach a deal and head off the tariffs.

Because the Supreme Court struck down his biggest tariffs in February, the president turned this time to an obscure provision of a Depression-era trade law that gives him the power to impose tariffs of up to 50% on imports from countries that have discriminated against US businesses. No investigation is required, nor is there any limit on how long the tariffs can last. But no president has ever imposed such tariffs before, so they are untested in court.

No choice' but to walk awayLast week, negotiators appeared to be close to resolving their differences. Less than two hours before levies were set to take effect, Trump announced a three-day reprieve, posting on social media that “Canada and the USA., subject to the finalization of documents, have a DEAL!” Greer, the US trade representative, later told CNBC that the United States had offered to cut in half existing 50% tariffs on Canadian steel and aluminum, and to sharply reduce levies on Canadian auto and softwood lumber imports.

But it all fell apart Friday and the Canadians walked away, with Carney saying the Americans had sought “to destroy our major industries, including autos, steel and aluminum. ... That was one of the main reasons we said no. It was a bad deal.'' Carney also said that Washington viewed protections for French and Canadian culture — considered fundamental rights in Canada — as irritants to trade.

Ford said he understood that late in the talks, Washington demanded veto power over trade deals Canada pursued with other countries, which would have violated Canadian sovereignty.

Despite the differences, Cato's Lincicome said, “both sides understand the economic consequences of some sort of a full-blown trade war.'' The two countries last year did $880 billion worth of trade, according to the U.S Commerce Department. Canada sends 72% of its exports to the United States. And US communities along the border depend on Canadian electricity. American farmers need Canadian potash fertilizer. And US refineries in the Midwest rely on imports from Alberta's oil sands deposits.

Then there's US politics. “Voters hate tariffs,” Lincicome said. “They associate them with higher cost of living, and (Trump has) got to be hearing from political folks that if he wants any chance of salvaging the midterms he can't start a trade war with Canada.

“My guess — and it's only a guess — is that cooler heads do prevail somewhere in the next few weeks.'' (AP) AMS

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