Hyderabad, Aug 24 (PTI) The ICSI has inaugurated its new Chapter Office here, a five-storey building with Rs 10 crore investment. The 10,200-sq-ft new office building, inaugurated on August 23, provides enhanced infrastructure for professional education, training, examinations, meetings, capacity-building programmes and other activities of the ICSI Hyderabad Chapter, a release said here on Monday. ICSI president CS Pawan G Chandak said the new facility would provide a stronger platform for... ... ...

Ahmedabad, Gujarat, India – Business Wire India Curis Lifesciences Limited is entering a new phase of growth as it expands across domestic branded pharmaceuticals, international markets and contract manufacturing, with its 51% acquisition of Uninova Lifesciences Pvt. Ltd. adding a new dimension to the company's evolving business strategy. The company's growth roadmap is built around three complementary opportunities — strengthening its merchant export business in Kenya, establishing a long-t... ... ...

Kolkata (West Bengal) [India], August 24: A conclave on the Insolvency and Bankruptcy Code, 2016, themed “”, was successfully organised on 8 August 2026 at The Park, Kolkata, under the Views Exchange series GYAN GANGA. The Conclave brought together leading stakeholders from across the insolvency ecosystem to reflect on the decade-long journey of the Code and deliberate upon emerging challenges, evolving practices and the road ahead. The programme was organised by Views Exchange and the Insolv... ... ...

Anti-dumping duty on imports of natural mica-based pearl industrial pigments, excluding cosmetic grade, originating in or exported from China PR continues under the amended notification until 25 February 2027. The amendment substitutes the earlier expiry date of 25 November 2026, thereby extending the period for which the existing anti-dumping duty remains applicable to the specified goods.

Raw sugar under tariff heading 1701 is exempt from the whole of customs duty under the First Schedule to the Customs Tariff Act when imported within a Tariff Rate Quota of 10 lakh MT. The exemption applies immediately until 31 October 2026. Importers must receive TRQ allotment from DGFT under the applicable Handbook of Procedures, and the electronic authorisation must identify the importer, IEC, notification, tariff heading, quantity and validity. Customs clearance is permitted only through electronic debit of the authorised quota in ICES.

Raw sugar classified under Exim Code 170114 may be imported freely within a duty-free Tariff Rate Quota of 10 lakh MT up to 31 October 2026. Advance Authorisations issued under SION E52 receive a one-time option to convert to the TRQ Scheme for raw sugar actually imported before the notification date, including refined sugar produced or to be produced from that imported raw sugar. Conversion requires payment of GST exempted on import, domestic sale of the resulting refined sugar by 31 October 2026, and compliance with further prescribed conditions. DGFT will issue the administrative procedure for the TRQ and conversion process.

FTP 2023 now permits export contracts and invoices, except those involving Asian Clearing Union (ACU) member countries, to be denominated and export proceeds realised in foreign currency or Indian rupees. ACU-country contracts, excluding Nepal and Bhutan, must use an ACU-determined currency or follow RBI directions; Nepal and Bhutan contracts must be denominated and settled in Indian rupees or as directed by RBI. Exports to countries other than Nepal and Bhutan whose proceeds are received in Indian rupees through specified banking channels qualify for FTP benefits, incentives and export-obligation fulfilment on par with foreign-currency realisations. Iran exports remain subject to FTP compliance requirements.

GST clarifications treat qualifying low-tariff hostel accommodation as exempt, while litigant fees, penalties and payments involving Consumer Disputes Redressal Commissions are outside GST. Elephant and camel joy rides are taxable as recreational services, and rental of self-propelled access equipment follows the rate applicable to like goods. Healthcare services, including qualifying professional services, hospital retention amounts and medically advised in-patient food, are exempt. Cost petroleum is not consideration for services to the Government, though it may indicate the value of services supplied by an operating member to a joint venture.

Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.

Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.

Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.

India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.

Wheat export policy is amended by changing the export status of Durum Wheat-Other and Wheat from "Prohibited" to "Free". The revised policy applies immediately to the specified products under the relevant ITC (HS) export codes.

Export policy for wheat or meslin flour, including atta, maida, samolina (rava/sirgi), wholemeal atta and resultant atta, classified under ITC (HS) code 11010000, is revised from Prohibited to Free. The revised export policy takes immediate effect under the Foreign Trade (Development & Regulation) Act, 1992 and the Foreign Trade Policy, 2023.

Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.

Transitional Value Added Tax and Entry Tax credit is unavailable for utilisation where the latest operative adjudication or appellate order under the earlier regime had held that credit inadmissible. Such disputed credit, even if reflected in the electronic credit ledger, remains unavailable while the adverse order operates, and its utilisation attracts recovery, interest and penalty. Blocked credit ineligible under input tax credit restrictions cannot be transitioned or utilised; improper transition similarly attracts recovery, interest and penalty. An undertaking is required for disputed or blocked credit exceeding the prescribed threshold.

Under the second proviso to section 35B(1) of the Central Excise Act, 1944, the Tribunal may decline to admit appeals involving an amount below the prescribed threshold. A recurring issue does not by itself justify admission where no evidence establishes that show-cause notices were issued for subsequent periods. Appeals below the threshold may therefore be dismissed without examination of their merits when recurring liability remains unsubstantiated.

Educational activity remains charitable where a trust pursues its stated objects and applies funds to educational purposes. Donations to charitable institutions, together with necessary administrative and operational expenditure, do not justify refusal of donation-deduction approval merely because recipient institutions lack separate approval, absent diversion of funds for private benefit. Fee collections, donations and grants used to fund educational operations do not by themselves establish commercial activity or negate income-tax exemption. Investments in buildings and furniture may constitute charitable application of income. Unsubstantiated concerns over corpus-donation documentation, without evidence of manipulation or non-charitable use, do not warrant denial of fiscal benefits.

Export-related GST refunds permit credit refunds despite drawback limited to basic customs duty, allow return-data corrections through prescribed amendment procedures, and permit retrospective LUT acceptance or export-time extensions where actual exports are established. Only one deficiency memo may ordinarily be issued, subject to unrectified or later substantive deficiencies. Transitional credit is excluded from Net ITC, and refund where invoice and shipping-bill values differ is limited to the lower value. Goods exports do not require proof of foreign-exchange realisation, and refunds should not be withheld for minor procedural lapses.

GST treatment of transactions involving an unincorporated joint venture depends on whether members' contributions are merely transactions in money or constitute consideration for a supply. Cash calls pooled solely to acquire machinery for joint-venture use are capital contributions and not taxable where no activity is performed for another for consideration. Where an operating member uses its own machinery to undertake activities for the joint venture and recovers costs from other members, the arrangement constitutes a taxable supply of service. Taxability depends on the facts and joint-venture contractual terms.