Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.

The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.

Form-F requires registered persons dealing with controlled substances to file quarterly, substance-specific returns showing opening and closing balances and transaction-wise receipts, imports, sales, consumption and exports. Quantities must be stated in kilograms. Import and export entries must include the relevant No Objection Certificate number and date. The filer must certify the accuracy of the information, retain supporting records, state whether filing was timely, and submit the return to the concerned Zonal Director of the Narcotics Control Bureau.

M/s. Hind Terminals Pvt. Ltd. is appointed Custodian and approved as Customs Cargo Service Provider for the Inland Container Depot, Dhanakya, Jaipur. It must comply with customs law and cargo-handling regulations, remain accountable for receipt, handling, storage, loss and improper removal of cargo, and ensure safe transport of export goods. Conditions include prior approval for alterations or subletting, execution of bond and insurance, payment of cost-recovery charges, RFID-based tracking infrastructure, and disposal or authorised sale of uncleared goods. The appointment is valid for two years, subject to earlier review, suspension, revocation or cancellation.

Manufacturers of controlled substances in Schedule-A must submit separate quarterly returns for each substance, reporting registration particulars, opening balance, manufacture, sale transactions, and closing balance in kilograms. Sale entries must identify the purchaser, premises, consignment note number, and quantities. The return must disclose delayed filing and any fine paid, be certified as correct, and be sent to the concerned Zonal Director of the Narcotics Control Bureau. Import or export entries require No Objection Certificate particulars instead of registration details.

The Transactional Net Margin Method (TNMM) remains the appropriate method for benchmarking exports of chemical additives to associated enterprises where it has been consistently accepted, the underlying facts and law remain unchanged, and no justified basis exists to replace it with the Comparable Uncontrolled Price Method. Transfer-pricing adjustments based on CUP were therefore deleted because TNMM margins fell within the arm's-length range. Claims for credit of taxes paid, including dividend distribution tax, require verification of payment before credit and consequential interest can be determined; those claims were remitted for verification and grant in accordance with law.

The notification grants nil-rate treatment to specified railway-related services, including platform tickets, retiring or waiting rooms, cloak rooms, battery-operated cars, inter-zonal services, and defined infrastructure-use and maintenance arrangements with special purpose vehicles. It also revises the accommodation-services exemption by excluding student residences, hostels, camps, paying-guest establishments, and similar facilities. A separate nil-rate entry applies to accommodation services valued at no more than twenty thousand rupees per person per month when supplied continuously for at least ninety days.

Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.

Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.

The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.

Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.

Tax collection at source under the Madhya Pradesh Goods and Services Tax Act is amended by replacing the rate of "half per cent" with "0.25 percent" in the notification dated 29 September 2018. The amendment is made under the State Government's power under section 52(1), on the Council's recommendations, and is deemed effective from 10 July 2024.

M/s. Adani Logistics Ltd. is appointed as Custodian and approved as Customs Cargo Service Provider for the customs area of the Inland Container Depot, Kishangarh. It must comply with customs and cargo-handling requirements; safeguard, receive, handle and store goods; remain liable for pilferage, loss, improper removal and relevant duties; execute prescribed bond and insurance; provide tracking systems and required infrastructure; and bear cost-recovery charges for customs officers. The approval is valid for two years, subject to earlier review, suspension, revocation or cancellation for non-compliance.

Madhya Pradesh SGST schedules are revised to place specified paper or paperboard cartons, milk cans of iron, steel or aluminium, and solar cookers in the 6% schedule, with corresponding exclusions and adjustments in the 9% schedule. Parts of poultry-keeping machinery, including brooders, are also covered. Agricultural farm produce supplied in packages containing more than 25 kilograms or 25 litres is clarified not to be treated as pre-packaged and labelled.

MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.

Tax exemption is notified for the Odisha Joint Entrance Examination Committee in respect of examination fees, counselling and application-processing fees, and interest on bank deposits under Schedule III read with section 11 of the Income-tax Act, 2025. The exemption is conditional on the absence of commercial activity, prescribed income-tax return filing, and continuation of unchanged activities and specified income. Non-compliance results in withdrawal of the exemption and commencement of proceedings under the Act.

Disputed facts concerning the agreements, authority of company representatives, fiduciary deposit of gold bars, account confirmations, and obligation to account for sale proceeds cannot be conclusively evaluated while considering FIR quashing. Witness statements recorded during investigation had not been considered. Whether the allegations amount only to a civil dispute or also disclose criminal offences requires factual ascertainment through investigation, as a civil wrong may also constitute a criminal offence. The High Court's quashing order was set aside, and the investigation was directed to continue independently of judicial observations.

Tax exemption under section 10(46) of the repealed Income-tax Act, 1961 is notified for specified examination, counselling, application-processing and bank-deposit interest income of the Odisha Joint Entrance Examination Committee. The exemption requires absence of commercial activity, unchanged activities and income nature, and prescribed return filing. Non-compliance may lead to penal action and withdrawal of exemption.

Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.

Tax exemption is notified for the Noida Special Economic Zone Authority under Schedule III read with section 11 of the Income-tax Act, 2025, for specified receipts including lease rent, bank interest, fees, allotment and transfer charges, auction receipts, site-usage charges, and scrap-sale proceeds. Applicable for tax years 2026-27 and 2027-28, the exemption requires the Authority to avoid commercial activity, file its return in the prescribed manner, and maintain unchanged activities and specified income. Non-compliance leads to withdrawal of exemption and proceedings under the Act.