A retrospective statutory amendment changes the applicable law but does not, by itself, justify review of a matter conclusively decided under the pre-amendment law. The amendment is therefore not a sufficient ground to reopen a previously decided matter through review.

Anti-dumping duty on Phthalic Anhydride classified under tariff item 2917 35 00 is continued on imports originating in or exported from the People's Republic of China and the Republic of Korea. The duty applies whether the goods are directly exported from those countries or are exported through another country, at the prescribed producer-neutral rates per metric tonne. The measure replaces the earlier notification and remains effective for five years from publication unless earlier revoked, superseded or amended. Duty is payable in Indian currency, using the applicable customs exchange rate on the bill-of-entry date.

The deadline for online applications seeking Tariff Rate Quota allocation under the India-United Kingdom Comprehensive Economic and Trade Agreement for calendar year 2026 is extended to 9 August 2026. All other conditions governing the application and allocation process under the earlier public notices remain unchanged, so applicants must continue to comply with those existing requirements.

Customs facilities provided through specified circulars issued under Section 143AA of the Customs Act to address maritime-route disruptions caused by the Strait of Hormuz closure remain valid until 30 June 2026. All existing terms, conditions and other facilities under those circulars remain unchanged, preserving the relief framework during the continuing disruption.

Provisional attachment of a fixed deposit could not be sustained where the deposit comprised cash placed under a Special Court's direction and remained in the custody of the Bureau of Prevention of Corruption. The appellant lacked the ability to transfer or otherwise deal with the deposit. Consequently, the statutory basis for apprehending a transfer or dealing intended to frustrate confiscation was absent, rendering both the provisional attachment and its confirmation unsustainable.

Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.

Compulsory registration compliance for Television Sets under IS 18112:2022 under the Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2021 has been deferred. The implementation date has been extended from 26 July 2026 to 26 January 2027. Customs formations are to sensitise officers regarding the revised timeline and report any implementation difficulties to the Board.

Rule 218 prescribes deadlines and modes for depositing TDS, TCS, and tax payable under section 392(2)(a). Government offices follow separate same-day or monthly deposit requirements, while other deductors and collectors must meet March and monthly deadlines. Specified deductions may be deposited through a challan-cum-statement within 30 days with Form No. 141. Government offices depositing without challans must furnish Form No. 137, communicate the Book Identification Number, and obtain an Account Office Identification Number. Challan and challan-cum-statement payments may be subject to electronic remittance requirements.

Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.

Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.

BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.

BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.

Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.

The Government amended the earlier order constituting the Authority for Advance Ruling under the Telangana Goods and Services Tax framework. Sri Sahil Imaandar, Additional Commissioner, Ranga Reddy GST Commissionerate, Hyderabad Zone, was appointed as a Member in place of Sri B. Raghu Kiran. The Committee is to function from the office of the Commissioner of State Tax, Telangana, Hyderabad, with necessary implementation action assigned to the Commissioner of Commercial Taxes.

Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.

Deduction for credit facilities provided by a co-operative society may extend to nominal or associate members if they are valid members under the applicable State co-operative law and the society's bye-laws. The exclusion for co-operative banks applies only to licensed entities conducting banking business with the public. Interest or dividend from investments with co-operative societies may qualify for the specific deduction, subject to verification of the investment's nature and source. Where bank-interest income is assessed under income from other sources, permissible expenditure must be considered. The deduction and expense claims require factual verification under these principles.

An erratum issued under the Telangana Goods and Services Tax Act, 2017 and the corresponding Rules corrects an entry in G.O. Rt. No. 246 dated 19 July 2022. Against item No. (2), the name "Sri Sahil Imaandar" is substituted with "Sri Sahil Inamdar."

India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.

Sugarcane purchased predominantly from non-members and gate-cane suppliers is treated as a commercial transaction rather than additional cane price paid to member-growers under the statutory price regime. Deductibility of expenditure exceeding the Fair and Remunerative Price depends on whether the purchase price was commercially expedient and competitive in the local market. Comparable prices paid by nearby sugar factories may support the claim, subject to verification that the stated comparable price was accepted. If that verification confirms competitiveness, the full sugarcane purchase expenditure is allowable as business expenditure.

Higher-rate TDS for non-residents without PAN is inapplicable where prescribed information and documents are furnished to the deductor. The relaxation covers interest, royalty, fees for technical services, dividends, and payments on transfer of capital assets. Required particulars include contact and overseas address details, a Tax Residency Certificate where available under residence-jurisdiction law, and a Tax Identification Number or government-issued unique identification number. The higher-rate mechanism is also inapplicable where the non-resident is not required to obtain PAN.