Schedule III, carrying a 9% rate, inserts woven and non-woven bags and sacks of polyethylene or polypropylene strips or like material, whether laminated or not, when of a kind used for packing goods. It also inserts flexible intermediate bulk containers. Schedule II, carrying a 6% rate, omits serial entries 80AA and 171A and their associated descriptions.

Madhya Pradesh Goods and Services Tax Rules, 2017 are amended with retrospective effect from 27 May 2020 to permit companies to verify specified GST filings through an electronic verification code. Registered persons incorporated under the Companies Act, 2013 may furnish FORM GSTR-3B returns using EVC from 21 April 2020 to 30 September 2020, and may furnish FORM GSTR-1 outward-supply details using EVC from 27 May 2020 to 30 September 2020.

Registration is mandatory before insurance or reinsurance business may commence through an International Financial Services Centre Insurance Office. Eligibility requires appropriate domestic or home-jurisdiction authorisation, regulatory compliance, fit-and-proper governance, FATF-compliant jurisdictional status, and applicable capital, Net Owned Fund and solvency compliance. Registered IIOs may undertake permitted life, general, health or reinsurance business in freely convertible foreign currency, subject to restrictions on Domestic Tariff Area business. They must maintain resident key personnel, records, KYC and AML compliance, prudential standards and regulatory reporting. The Authority may inspect, investigate, suspend or cancel registration after giving an opportunity for submissions.

For the relevant State GST entry, bus body building includes building a body on the chassis of any vehicle falling under Chapter 87 of the First Schedule to the Customs Tariff Act, 1975. The clarification applies solely for the purposes of that entry and covers chassis of any vehicle within the stated tariff chapter. The insertion is deemed effective from 22 November 2019.

Merchandise exports increased sharply in August, led by petroleum product shipments, while imports also rose year-on-year. Reduced gold imports contributed to a narrower merchandise trade deficit. During the first five months of the fiscal year, the cumulative deficit widened as higher imports reflected domestic expansion, energy requirements and manufacturing-input demand. Energy commodities and electronic goods were principal contributors to the deficit, while export growth was supported by engineering goods, petroleum products, chemicals and textiles.

Bribery allegations concerning CGST redevelopment approvals led to registration of a case against a CGST Superintendent and unknown persons. The Superintendent allegedly sought undue advantage for issuing a no-objection certificate and handing over CGST-owned flats. Following verification, a trap was laid after the complainant was allegedly directed to deliver cash to a CGST consultant. Both the Superintendent and consultant were arrested, produced before the competent court, and placed in police custody. Further investigation remains in progress.

Foreign Trade Policy, 2023 introduces a de minimis exemption from the requirement to hold a Registration-cum-Membership Certificate (RCMC) or Certificate of Registration for export consignments whose Free-on-Board (FOB) value does not exceed Rs. 3,00,000. Export consignments exceeding the prescribed FOB-value threshold remain subject to the requirement to possess a valid RCMC or Certificate of Registration wherever that requirement otherwise applies.

Global Fintech Awards 2026 recognised financial-technology innovation across banking, fintech, artificial intelligence, digital trust and identity, payments, lending, insurance, wealth management and cybersecurity. Its theme emphasised trusted, connected and inclusive financial systems, identifying Agentic AI, tokenisation and quantum technologies as areas of transformation. AI-powered financial innovation recognition covered AI applications in payments, banking, lending, insurance, and asset or wealth management.

The special-procedure framework under the Madhya Pradesh Goods and Services Tax regime extends the deadline in the first proviso to the third paragraph of the specified GST notification. The date of 31 August 2020 is replaced by 31 October 2020, and the revised deadline is deemed effective from 31 August 2020.

Goa SGST revises service taxation for containerised rail transport, multimodal goods transportation, goods-carriage renting, delivery services, job work, tailoring and beauty services. Concessional rates for specified transport, renting and beauty supplies depend on restrictions on input tax credit, while multimodal transport credit for higher-taxed transport inputs is capped at the concessional rate. Job work receives differentiated treatment for diamonds, specified goods, alcoholic liquor and residual supplies. Definitions are added for goods transport agency, mode of transport and multimodal transporter, and recognised sporting events receive a specified clarification.

IIFL Finance completed a tokenised bond transaction under the SEBI Regulatory Sandbox framework for securities tokenisation. The transaction used the Metropolitan Stock Exchange of India bidding platform, with Trust Investment Advisors Private Limited as sole arranger and advisor, and the bonds are intended to be listed on the National Stock Exchange of India. Securities tokenisation digitally represents securities through blockchain and distributed ledger technology to support more efficient, transparent and faster debt-market processes.

BharatBenz's product transformation is directed toward safer, more productive and efficient commercial transport. The truck and bus portfolio is being prepared with Advanced Driver Assistance Systems calibrated to Indian operating conditions in advance of evolving safety requirements. Automated Manual Transmission technology is being expanded to improve driver comfort, reduce fatigue, support fleet safety and efficiency, and lower total cost of ownership. Customer support combines connected fleet technology, service assurance, parts availability and service-network expansion.

India-New Zealand Free Trade Agreement is expected to enter into force in the latter half of October 2026, subject to both parties completing operationalisation processes and procedures. The agreement grants duty-free access to New Zealand for 100 per cent of Indian exports, replacing existing peak tariffs on key Indian products. It is intended to expand bilateral trade in goods and services, promote investment, and includes New Zealand's investment commitment in India.

New rule 31D establishes retail sale price-based valuation for specified pan masala, tobacco and inhalation products. Supply value is deemed to be the declared retail sale price less applicable IGST, CGST, SGST or UTGST, determined under the prescribed formula. The highest of multiple declared package prices, any increased declared price, and relevant area-specific prices govern valuation. Registered persons other than manufacturers receive a limited rule 86B exemption only for covered goods where the supplier has paid tax on the retail sale price basis.

RBI's rejection of Tata Sons' application to surrender its NBFC registration retains the company within the regulatory framework associated with a stock-exchange listing requirement. A prospective listing would entail regular disclosure obligations, greater scrutiny of finances, capital allocation and investments, and increased public shareholder expectations. The listing issue intersects with chairman continuity and succession, while proceedings restraining the Sir Ratan Tata Trust from holding meetings may impede joint trustee nominations required to constitute the chairman selection committee.

Madhya Pradesh GST valuation framework is amended to include pan masala and specified tobacco, tobacco-substitute and nicotine-substitute products bearing a declared retail sale price. Retail sale price is the maximum packaged-goods price for the ultimate consumer, inclusive of taxes, duties, surcharge and cess. The highest of multiple declared prices applies, and any increased declared price is treated as the retail sale price. Area-specific declared prices apply to goods intended for sale in the relevant area.

India and China have commenced bilateral trade engagement to identify positions on trade-related concerns and pursue further meetings. Discussions are directed at structural trade imbalances, supply-chain issues, and trust in commercial relations. India's widening trade deficit with China is identified as a principal concern, while investment issues remain relevant because India has tightened its foreign direct investment policy for countries sharing land borders with it. Engagement is intended to explore approaches to more balanced commercial relations and supply-chain resilience.

Bank of India introduced integrated digital-banking capabilities covering UPI mandate management, transaction replay, contactless UPI payments, interoperable ticketing and bulk IMPS payments. Programmable Central Bank Digital Currency enables tokens to carry merchant, geographic, expiry and acceptance conditions, with real-time compliance checks for purpose-bound transfers. Additional measures include a self-service cash recycler proof of concept, automated compliance management, a fintech proposal portal, in-branch customer-engagement tools and voice-enabled conversational banking.

Madhya Pradesh revises State GST rate schedules by inserting biris in the 9% schedule and specified pan masala, tobacco, tobacco-substitute and inhalable tobacco or nicotine-substitute products in the 20% schedule. The separate 14% rate schedule is omitted. The revised rate-schedule treatment takes effect from 1 February 2026.

Eleven Delhi Gymkhana Club members challenge the Central Government's lease resumption and proposed eviction proceedings, alleging a colourable exercise of power and violation of constitutional property protections. They contend that no specific public-purpose project, supporting material, compensation or defence endorsement was disclosed. The dispute also concerns government-nominated management following supersession of the elected committee, delayed restoration of elected control, and an alleged conflict arising from governmental influence over both the lessor and the Club's management. Retrospective ground-rent revision is challenged separately.