Tariff values for specified imported edible oils, brass scrap, gold, silver and areca nuts are substituted under the customs valuation framework. The revised tables prescribe tariff values for crude and refined palm oil and palmolein, crude soya bean oil, brass scrap, specified gold and silver forms, and areca nuts. The gold and silver entries distinguish goods qualifying for specified customs-notification benefits and certain other prescribed forms, while excluding particular silver articles and certain post, courier or baggage imports where stated. The revised tariff values take effect from 15 August 2026.

Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.

Outstanding trade creditors arising from material supplies and purchases, supported by bills and unrebutted reconciliations, are not unexplained cash credits merely because of discrepancies in creditors' accounts; the Section 68 addition was therefore deleted. Genuine purchases do not by themselves prevent disallowance where statutory restrictions on cash payments apply, so the cash-payment disallowance was restored. Relief from the peak-capital addition remained justified because audited books showed regular business deposits and withdrawals supported by available funds, although a limited residual addition was retained.

Arunachal Pradesh grants a time-bound concessional State GST rate on specified COVID-19 relief supplies by exempting tax beyond prescribed residual rates. Medical-grade oxygen, remdesivir, heparin, testing and diagnostic kits, sanitizers, oxygen-support equipment, ventilators, crematorium furnaces and temperature-check equipment are taxable at 2.5% State GST. Tocilizumab and amphotericin B receive full State GST exemption, while ambulances are taxable at a concessional 6% State GST rate. The concession remains effective up to and including 30 September 2021.

Documented share transactions supported by allotment records, banking-channel payments, demat records, contract notes and securities transaction tax may substantiate an exemption claim for long-term capital gains. Where such evidence is not discredited, general investigation material and third-party statements do not justify treating the gains as unexplained cash credits without independent evidence linking the taxpayer to price manipulation, accommodation entries or introduction of unaccounted money. Acceptance of the transactions as genuine also removes the factual basis for estimating unexplained commission expenditure on the sale proceeds. The stated position supports allowance of the capital-gains exemption and deletion of additions for unexplained credits and estimated commission.

Nationwide verification of suspicious outward foreign remittances targets entities with little or no reported business activity, their controllers, and professionals issuing tax determination certificates. Scrutiny concerns remittances disproportionate to reported turnover, inconsistent with stated purposes, or linked to entities not operating from declared addresses. Form 15CB, or Form 146 under the corresponding framework, requires certifying accountants to assess taxability from books of account and relevant records, supporting tax deduction at source and treaty compliance through due care, diligence and professional judgment.

Telangana GST amendments require most registered persons to furnish bank-account details or other portal information within the prescribed period, with non-compliance becoming a ground for cancellation of registration. They enable notified QR-code requirements for tax invoices and bills of supply, permit electronic cash-ledger transfers through FORM GST PMT-09, and revise refund payment procedures. Airport retail outlets making tax-free foreign-exchange sales of indigenous goods to eligible outgoing international tourists may claim refunds of tax paid on qualifying inward supplies through FORM GST RFD-10B, subject to invoice, procurement, and other conditions.

Fair Price Shop regulation introduces quantity-based penalties for stock discrepancies, ranging from performance-guarantee forfeiture and replenishment obligations to interim suspension, cancellation-related action and mandatory FIR registration for major shortages. Repeated or deliberate diversion or manipulation of public distribution supplies may lead to cancellation, blacklisting and FIR registration. Licensing now includes continuing regular licences and short-term temporary licences, with wider eligibility, points-based selection, card-linked performance guarantees and compulsory approved e-PoS, weighing-scale and iris-scanner use.

Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.

State tax on services covered by clause (f) of item (iv) against serial number 3 is temporarily levied at 2.5 per cent, irrespective of the otherwise applicable rate, from 14 June 2021 to 30 September 2021 under the Arunachal Pradesh goods and services tax rate framework.

Arunachal Pradesh appointed 1 January 2021 as the commencement date for specified provisions of the Arunachal Pradesh Goods and Services Tax (Amendment) Act, 2021. The provisions brought into force comprise sections 119 to 124, sections 126 and 127, and section 131, pursuant to the State Government's statutory commencement power.

FORM GST INV-01 is substituted to prescribe version 1.1 of the e-invoice schema. It specifies mandatory, optional and conditional fields, technical formats and reporting cardinality for invoice, credit note and debit note data. Core reporting covers document details, supplier and recipient information, item particulars, taxable values, applicable GST and cess components, and document totals. The Invoice Registration Portal generates the mandatory invoice reference number required for e-invoice validity. Optional sections cover payment, delivery, export, supporting-document and e-way bill information, with conditional requirements for transport and location details.

Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.

China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.

Addition for alleged unexplained bank deposits under Section 69A was unsustainable because the discrepancy arose from comparing full-year deposits with figures considered only up to 22 January 2018. Bank records showed that deposits exceeded the departmental insight information and represented business receipts later remitted for telecom recharges. No independent verification established that transactions in the relevant bank account fell outside regular business receipts. Deletion of the addition was therefore upheld.

Input tax credit on ducts and manholes forming part of an optical fiber cable network used to provide telecommunication services is not restricted under the blocked-credit provisions concerning works contract services or construction of immovable property. These components are integral to transmitting telecommunication signals and fall within plant and machinery because they are used for making outward supplies. They are not excluded as land, buildings, civil structures, telecommunication towers or pipelines laid outside factory premises.

Section 14A disallowance under Rule 8D is restricted where an assessee's own funds substantially exceed its investments, creating a presumption that the investments were made from own funds. No interest expenditure is therefore disallowable under Rule 8D(2)(ii), and no direct expenditure disallowance arises under Rule 8D(2)(i). Administrative expenditure under Rule 8D(2)(iii) must be computed only with reference to investments that actually yielded exempt dividend income. Investments in foreign companies whose dividends are taxable must be excluded from that computation.

GST exemption applies to loans, credit or advances where consideration is solely interest or discount, other than interest in credit card services. No separate processing, facilitation or administration service is deemed in loans between an overseas affiliate and its Indian affiliate, or between related persons, merely because no fee other than interest or discount is charged; open market value cannot be used to levy GST on such deemed service. Processing, administrative, service or loan-granting fees charged in addition to interest or discount are taxable consideration for loan-related services.

Business-use equipment installed at leased or rented premises qualifies as plant and machinery eligible for depreciation at 15%, rather than furniture and fixtures. For exempt-income expenditure, sufficient own funds support a presumption that investments were interest-free funded, and the Rule 8D computation should include only investments yielding exempt dividend income; foreign investments producing taxable dividends and non-yielding investments are excluded. Conversion costs and purchased spare parts reflected in closing stock are actual allowable costs, not contingent provisions. Residential flats substantiated as business guest houses qualify for depreciation at 10%. Repair and maintenance expenditure remains disallowable to the extent attributable to capital assets or unsupported capital components.

Import policy for clear float glass classified under ITC (HS) codes 70051090 and 70052990 is changed from Free to Restricted. Imports remain free where the CIF value is Rs. 34,000 or more per metric tonne. The minimum import price condition is inapplicable to Advance Authorisation holders, Export Oriented Units and Special Economic Zone units if imported inputs are not sold into the Domestic Tariff Area, and applies for one year from publication.