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
❯❯
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
September 2, 2026
Show AI Summary
E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
Show AI Summary
Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
Show AI Summary
Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
Show AI Summary
Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
Show AI Summary
Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
Show AI Summary
Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
Show AI Summary
Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
Show AI Summary
Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
Show AI Summary
Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
Show AI Summary
Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
Show AI Summary
Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
Show AI Summary
GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
Show AI Summary
Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
Show AI Summary
Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
Show AI Summary
Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
Show AI Summary
Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
Show AI Summary
Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
Show AI Summary
Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
Show AI Summary
Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
Show AI Summary
GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

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