Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    J-K parties oppose hike in power tarrif
    IAS officer Gangwar not ‘missing’, away in UP over father’s health: Karnataka minister
    J-K Dy CM terms ED case against his brother 'selective targeting'
    T'gana HC CJ calls for timely, expert dispute resolution in telecom, broadcasting, airport sectors
    Latur CA booked for issuing certificates to facilitate remittance of hundreds of crores abroad
    Stock Market for Beginners: How to Start Investing Without Feeling Overwhelmed
    CGST Zone detects clandestine pan masala, tobacco unit, detects tax evasion of Rs 160 cr
    Korea Industry Expo (KoINDEX) 2026 Opens at Yashobhoomi on 27 August
    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
    CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive co...
    India-Finland cooperation takes centre stage at circular economy forum
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the pr...
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
    Rupee settles 3 paise higher at 95.71 against US dollar
    29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
    India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about...
    Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Dir...
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 22, 2026
Show AI Summary
Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
August 22, 2026
Show AI Summary
Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
Reported absence of an IAS officer was attributed to a family medical emergency and a pending leave request, rather than enforcement searches concerning an alleged recruitment-examination scam. The officer denied any connection with those searches and expressed willingness to face an inquiry. Enforcement searches at the Karnataka Public Service Commission concerned a money-laundering investigation into alleged recruitment irregularities. The State Cabinet decided to advise suspension of the commission chairperson and initiation of an inquiry after an earlier suspension was set aside for lacking the Cabinet's aid and advice.
August 22, 2026
Show AI Summary
Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.
August 22, 2026
Show AI Summary
Specialised dispute resolution requires technical expertise, timely proceedings, mediation support, and human oversight to safeguard natural justice.
Specialised, timely and effective dispute-resolution mechanisms are necessary for technically complex disputes in telecom, broadcasting, airport tariffs and cyber sectors. Technology may assist legal reasoning but cannot replace judicial reasoning, requiring verification, professional responsibility and meaningful human oversight. Effective specialised adjudication should combine domain expertise with judicial discipline, respond to technical complexity, and protect natural justice, transparency and reasoned decision-making. Mediation and other consensual mechanisms can support dispute resolution.
August 22, 2026
Show AI Summary
Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
August 22, 2026
Show AI Summary
Beginner stock market investing requires regulated accounts, risk-aware financial planning, diversification and informed company assessment before purchasing securities.
Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
August 22, 2026
Show AI Summary
Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.
August 22, 2026
Show AI Summary
Trade exhibition connects Korean exporters with Indian buyers through sector-specific consultations and certification guidance for market entry.
KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
August 22, 2026
Show AI Summary
Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
Show AI Summary
Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
Show AI Summary
Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
Show AI Summary
Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
Show AI Summary
Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
Show AI Summary
Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
Show AI Summary
Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
Show AI Summary
Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
Show AI Summary
Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
Show AI Summary
Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
Show AI Summary
Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
Show AI Summary
Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

Union Minister of Commerce & Industry Shri Piyush Goyal Calls Upon Automotive Industry to Deepen Localisation, Expand Exports and Prepare to Serve Global Markets

September 5, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Shri Goyal Highlights Export Opportunities and Calls for Global-Standard Products from India

Resilience in automotive sector to come from partnerships, technology, innovation, R&D, skill development and diversified global markets: Shri Goyal

AI will help automotive industry become more efficient, competitive and customer-friendly; job roles may change, but jobs will grow: Shri Goyal

Government ready to support industry with critical minerals, technology, plug-and-play infrastructure and industrial parks

Union Minister of Commerce and Industry Shri Piyush Goyal today addressed the 66th SIAM Annual Convention as Chief Guest and called upon the Indian automotive industry to seize the opportunities emerging from India's expanding trade partnerships, growing domestic market and global shifts in manufacturing. He urged the industry to deepen localisation, invest in technology, innovation, research and development, expand exports and prepare itself to serve global markets.

Shri Goyal said the automotive sector would be one of the most important drivers of India's growth story in the years to come. He said the industry had demonstrated strong growth and that rising incomes and aspirations offered considerable scope for this growth to continue.

The Minister said India should not be satisfied with merely serving the domestic market and urged companies to “think globally”. He said global competition would intensify as more global car companies come to India and stressed that companies must use economies of scale in India to serve markets across the world. He observed that production would increasingly shift out of developed countries because of unaffordable costs, regulatory overburden, shortage of youth and talent, and inadequate industrial capacities. Companies that anticipate these changes, plan for the future and seize emerging opportunities would benefit, while those remaining in the comfort of their existing businesses and markets risked being left behind.

Shri Goyal said India had made a “best effort” through intense negotiations with the European Union and that the support extended by international companies during the negotiations was noteworthy. He said the outcome provided opportunities for bilateral and multilateral trade, growing exports, improved technology absorption and adoption of the latest technologies, and urged companies to take full advantage of these opportunities.

He cautioned that companies should not produce products of a different quality for India compared to their international or domestic markets. Referring to instances where vehicles were reportedly not being exported because their Indian designs were considered suboptimal compared to globally sold models, he urged the industry to ensure that products manufactured in India meet global standards.

The Minister said the Government was opening pathways to tremendous opportunities for the automotive industry through trade agreements. He highlighted that nine trade agreements had been finalised in the last four and a half years under the leadership of Prime Minister Shri Narendra Modi, covering economies with a combined GDP of around $60 trillion. He said this represented a major shift in India's approach, reflecting the self-confidence of “New India”, the pace of reforms and the transformation of India's ecosystem.

Shri Goyal said the India-EU agreement, described by the European Commission President as the “mother of all deals”, would be operational by March next year, urging the automotive industry to prepare to leverage the opportunities. He also noted that the UK agreement was already operational, providing, to his understanding, 100 per cent access for most auto components at zero duty.

The Minister said India's trade agreements had been negotiated after extensive consultations with hundreds of sectoral chambers and stakeholders. He said the Government had consulted not only line ministries but also private-sector associations and groups of companies, and that every trade agreement, bilateral trade agreement and preferential trade agreement undertaken by the Government had been widely welcomed. He said that, in the US bilateral trade agreement, not a single Indian sensitivity had been compromised, including those relating to farmers, fishermen, MSMEs, workers, handloom and handicraft sectors and industry. He reiterated that the Government had protected India's sensitivities to the highest extent possible through consultations and that the agreement represented only the first tranche, with continued engagement with stakeholders to follow.

Shri Goyal said India had recorded $863 billion in exports of goods and services last year and set an ambitious target of $1 trillion for the current year. He said exports were growing at around $9 billion a month during the first five months, with merchandise exports growing faster than services after many years. With a gap of around $29 billion to the target over the remaining seven months, he urged industry to raise the monthly pace to $12 billion and said he would rather aim high and fall short than set a suboptimal target, expressing confidence that India and its 1.4 billion people had the capability to achieve the target.

Shri Goyal said AI would help the automotive sector expand capabilities, improve efficiency and competitiveness and enhance customer service, while creating new job profiles, stressing that “job roles may change, but jobs will grow”. He said technology adoption was essential for inclusive and sustainable growth and that resilience extended beyond supply chains to business plans, innovation, R&D, technology, skill development and talent, with AI playing an important role in building resilient and sustainable mobility for Viksit Bharat.

Shri Goyal said sustainable mobility should go beyond replacing petrol and diesel vehicles with electric vehicles, noting that companies often presented different comparisons on EVs, hybrids, battery imports and energy sources depending on their product portfolios. He stressed that sustainability must have both environmental and economic dimensions and questioned claims of indigenisation involving only 10-15 per cent value addition to imported goods.

Pointing to actual performance, he cited India's export of around one million cars last year, growing exports by Maruti and the emergence of world-class electric vehicles from Tata Motors and Mahindra, including Maruti's exports of electric cars.

Shri Goyal said the automotive sector had strong growth potential, with ACMA reporting around 16-17 per cent growth and several automobile companies recording over 20 per cent growth, driven by rising incomes and aspirations. He also highlighted growing demand for two-wheelers and premium vehicles, supported by expanding highways and around $130 billion in annual investment in road infrastructure, while stressing the need for better road quality. Shri Goyal urged the automotive industry to look more actively at export markets, saying that exports could potentially double every two years.

Shri Goyal said the perception that Indian automobiles were made only for India was changing, with India-designed electric vehicles being engineered in Britain and Europe demonstrating the potential of global partnerships. He said resilience would come from partnerships and urged companies to further deepen localisation.

He said the Government was monitoring company-wise import-export data to assess actual levels of indigenisation and urged companies unable to localise certain products to compensate by expanding exports. He assured the industry that the Government was willing to create the necessary enablers and extend support wherever required.

Shri Goyal said that, as the global environment became more complex, India was seeking to secure the “four M’s of mobility” through trusted global partnerships, namely molecules, modules, megawatts and markets.

On molecules, he referred to rare earths, magnets and the Critical Mineral Mission, and said India was exploring linkages in some FTAs with the availability of rare earths and critical minerals, promoting ocean exploration for special minerals and participating in Pax Silica with the United States.

He said the Government would support companies undertaking innovation, investment and R&D in this area and highlighted the ₹1 lakh crore Research and Development Innovation Fund.

On modules, he urged companies to examine components they continue to import and pursue technology collaborations and partnerships wherever required.

Shri Goyal said his recent visit to Japan witnessed strong interest from Japanese companies in partnering with India, with more than 50 one-on-one meetings and interactions with around 500 companies. He said European companies were also seeking partnerships and talent from India, while Japan had indicated a requirement for 300,000 people annually, presenting opportunities for Indian companies to train apprentices and build a skilled talent pool.

Shri Goyal said this also presented an opportunity for Indian companies to collaborate with overseas companies, bring technology to India, manufacture products here and sell them back to those markets.

On megawatts, he said India needed to become self-sufficient in energy and promote indigenous energy sources. He stressed the need to become self-sufficient in crude oil, LPG and LNG, and to develop or bring to India technologies for batteries and other technologies.

He said India needed to produce increasingly efficient vehicles because environmental sustainability required a better future.

Shri Goyal said India demonstrated resilience in addressing the challenge of permanent magnets by bringing together the automotive industry, startups, IREL, the science and technology establishment and relevant Ministries. He said the collective response from industry and startups was encouraging, with a startup demonstrating two two-wheeler motors, one using permanent magnets and the other without them.

According to the Minister, the startup claimed that the motor without permanent magnets was cheaper, lighter, had better features and delivered better output. He said he had asked one of the industry's member companies to engage with the startup and validate the claim, noting that the startup had already presented validations from different agencies.

He described the development as particularly satisfying from the perspective of India's objective of becoming more self-reliant under the vision of Atmanirbhar Bharat.

Shri Goyal said India should not set suboptimal export targets despite the global turmoil, stressing that trade agreements and India’s global partnerships were aimed at creating opportunities for Indian industry. He said countries were seeking to expand trade with India and urged companies to make the most of the opportunity.

He said India had a clear roadmap to become a developed nation by 2047 and stressed the need to reduce dependence on imported crude oil and energy by promoting domestic exploration and utilising the country’s natural resources.

Shri Goyal said the Government was willing to support large automotive and auto-component projects through land and plug-and-play infrastructure and invited industry to identify locations for such ecosystems. He also offered to facilitate country-specific industrial parks based on industry demand.

Concluding his address, Shri Goyal urged the industry to deepen localisation, expand exports and set an ambitious export target, stressing that competing with the best in the world was essential to achieving Viksit Bharat 2047. He assured the industry of the Government’s continued support and said India’s growth at an unprecedented pace would require the collective effort and confidence of its 1.4 billion people.

Topics

Acts Income Tax